Advice on buying house in Southmoor (Denver, Center: real estate, 2009, houses)

[Saul Menowitz]

We're a family with 5 young children relocating from Chicago. We really like Southmoor, but have been told by our realtor that it will be difficult to sell and get any price appreciation there. This opinion is surprising to me since Southmoor is (1) convenient to downtown; (2) has large yards; (3) is close to lightrail; (4) has great parks; (5) and boasts a pool/tennis club. I don't look at a primary residence as an investment, but we'd like the house to hold value. We looked at a similar house in Cherry Point (less than 5 miles away) and it was $200K more expensive.

We're looking for a traditional neighborhood in which to raise our kids. We don't care about the public schools since our kids are going to Catholic schools.

Any advice on Southmoor? Is there some hidden danger or something negative that I'm missing?

Thanks.

[livecontent]

Originally Posted by Saul Menowitz

We're a family with 5 young children relocating from Chicago. We really like Southmoor, but have been told by our realtor that it will be difficult to sell and get any price appreciation there. This opinion is surprising to me since Southmoor is (1) convenient to downtown; (2) has large yards; (3) is close to lightrail; (4) has great parks; (5) and boasts a pool/tennis club. I don't look at a primary residence as an investment, but we'd like the house to hold value. We looked at a similar house in Cherry Point (less than 5 miles away) and it was $200K more expensive.

We're looking for a traditional neighborhood in which to raise our kids. We don't care about the public schools since our kids are going to Catholic schools.

Any advice on Southmoor? Is there some hidden danger or something negative that I'm missing?

Thanks.

You are not missing anything. Southmoor is a great area. The homes were built well in the 1960s and 1970s with large yards and certainly will hold their value if remodeling and maintenance was done--I think that is the case. It is certainly and beautiful area with well kept properties.

It has always been perceived as a valuable area because it was right near a very good park n ride. Now, that has been converted to a light rail station--it makes the area even more valuable.

It is very close to shopping along Hampden. Now with the commuter rail it is very accessible to the Denver Tech Center and all great areas to the south and in the future to the Skyline Medical Center with the expansion of the Light Rail. Downtown is just a quick commuter rail trip. It is surrounded by even more upscale housing in a established area in South Denver--it is great area to raise a family and it is an opportunity to live more "car-free" and that is increasingly being considered important today. That is why I think the area will increase in value.

Real estate agents do not impress me with their knowledge and advantages of Public Transit and Transit Oriented Developments. I have talked to many who have not a clue about a new rail station, or public transit, yet they are marketing a home in the area.

There are just too many part-time real estate agents, that is bored woman who do not need to work; investor pretenders; real estate agents who get a license so they can pretend that they have a job. It is in the same category of resume fillers--"I was a consultant" You can see it here on this forum--the real estate agents who are posting all through the day on a Saturdays and Sundays with great weather--yea, they are real busy showing and selling.

I would find another real estate person.

Livecontent

[tfox]

Southmoor is a great neighborhood with historically solid appreciation, even in the recent down market. I'm too lazy to look up the links, but I believe several sources including the Rocky Mountain News publish maps of appreciation and the last few years Southmoor has done very well. (I believe the city actually calls the neighborhood "Hampden" or "Hampden South.")

As for the schools, private schools are an option, but don't just assume Southmoor Elementary is poor just because it's in DPS, because the opposite is true. In fact, it's a highly regarded school whose test scores consistently outperform its counterparts even in "name" school districts.

I would certainly look at light rail accessibility as a plus for the area -- unfortunately the light rail is on the west side of I-25 and 90% of the neighborhood on the east side, but but still, being able to use light rail is a strong plus for the area and one reason why it's so popular.

[Saul Menowitz]

Wow, thanks for both of these comments. We're going to make our decision in the next few days. I very much appreciate the input.

[dj32]

Southmoor is a great area, I would be highly skeptical of your realtor's advice in this case. Do they know that area? Southmoor is one of the hottest areas to buy right now and there is very little on the market. The elem is highly regarded (in fact I have some friends now who live close trying to choice in there and it is virtually impossible because of the growth there). There is light rail, new Whole Foods, lots going on all around there. You will no go wrong in that area. Good luck and welcome to Denver.

Also, Cherry Point is great too but you are correct, it is more expensive and also, there is only 1 home on the market to my knowledge (I am looking there myself!!)

[livecontent]

Originally Posted by tfox

...I would certainly look at light rail accessibility as a plus for the area -- unfortunately the light rail is on the west side of I-25 and 90% of the neighborhood on the east side, but but still, being able to use light rail is a strong plus for the area and one reason why it's so popular.

The Light Rail platform is on the west side of I-25--that is correct, but the Park n' Ride is on the east side of the Highway and has a tunnel under the highway for access to the train platform. The connecting buses would connect at the east side. So it serves both sides of the highway with the east side, near Southmoor, as preferable because it is easier to get on the connecting buses.

Livecontent

[esya]

I would ignore your realtor's advice. This is a great area for a family and so long as your neighbors keep up the houses....I know people with families who bought there.