Up and Coming Neighborhoods Under 200k? (Denver, Lakewood: real estate market, 2011, renting)

[o2bnmudxj]

Hi all,

My name is Lindsay and my Husband and I with our 7 month old child plan to move to Denver within the next few months. I have searched and know there are several post on here were people are looking to move inside the Denver area but we would like to find an area with homes for small families or starter communities with families similar to ours.

We hope to take advantage of the low housing cost and plan to buy this fall. We have seen homes we like in our price range South of E. Colfax and North of the Cherry Creek area. Is this a rehab area like it appears? Any other areas we should look into?

Thanks!!!!

[adapterdesign]

My wife and I ended up buying in Olde Town Arvada. It's in a suburb, but there's a lot of cool shops in walking distance and it's only ~10 miles from LoDo.

There is a commuter rail line that's supposed to begin construction in 2011 & get completed in 2016. That'll link the area up with downtown Denver.

I don't have kids, so I haven't looked into the schools much, but the building are very nice.

If you're a first time home buyer, don't forget that the $8k tax thing ends on 11/30 or 12/1.

[o2bnmudxj]

Thanks for the great advice!

Can’t wait to look into that area! Sound right up our alley!

It will be awhile until we need schools so that isn't too much of a concern at this point.

Originally Posted by adapterdesign

My wife and I ended up buying in Olde Town Arvada. It's in a suburb, but there's a lot of cool shops in walking distance and it's only ~10 miles from LoDo.

There is a commuter rail line that's supposed to begin construction in 2011 & get completed in 2016. That'll link the area up with downtown Denver.

I don't have kids, so I haven't looked into the schools much, but the building are very nice.

If you're a first time home buyer, don't forget that the $8k tax thing ends on 11/30 or 12/1.

[livecontent]

Originally Posted by adapterdesign

My wife and I ended up buying in Olde Town Arvada. It's in a suburb, but there's a lot of cool shops in walking distance and it's only ~10 miles from LoDo.

There is a commuter rail line that's supposed to begin construction in 2011 & get completed in 2016. That'll link the area up with downtown Denver.

I don't have kids, so I haven't looked into the schools much, but the building are very nice.

If you're a first time home buyer, don't forget that the $8k tax thing ends on 11/30 or 12/1.

This is good advice you are given. I would strongly suggest you look into areas near a proposed commuter rail station. Nothing is assured in life, but it is good bet that the homes around these stations will appreciate in value, and the area will be redeveloped or rehabilitated, if necessary.

Arvada is good place to live for families. Near the proposed new Rail Station on Kipling have good value starter homes. In addition, there are similar homes around the proposed new station on Sheridan. However, I would live west of Sheridan in Jefferson County. East of Sheridan is Adams County and the school system is much better in Jefferson.

You could look near some of the current stations but some of the value has already been added to the homes. However, I think homes, just around the Yale Station, on the Southeast Rail corridor may still have some good values.

Arvada, Wheat Ridge, Lakewood, Westminster all have starter home neighborhoods that are in older established areas with good school systems. You do not have to be near a rail station to find good homes; the bus system is extensive in these areas.

I do agree the area in and adjacent to Old Town Arvada is a great place to live. That would be any areas along West 58th (Ralston Road). A nice area is just north of the meandering parks, along Ralston Creek, north of Brooks Drive.

I would look at the areas around the West Corridor into Lakewood which is presently under construction and will be the first line opened under the Fastracks expansion.
FasTracks Home

Current information the present system is found at
http://www.rtd-denver.com/index.shtml

Livecontent

[2bindenver]

where is work?

[tfox]

Originally Posted by o2bnmudxj

We hope to take advantage of the low housing cost and plan to buy this fall. We have seen homes we like in our price range South of E. Colfax and North of the Cherry Creek area. Is this a rehab area like it appears? Any other areas we should look into?

That would be the Congress Park neighborhood. It's an excellent choice. I wouldn't say that congress park is a "rehab" neighborhood, except possibly the section just south of E Colfax. Most of the neighborhood has been pretty sought after for decades.

Another area, similar to congress park to consider would be Park Hill, which is north of E Colfax just east of Colorado Blvd.

[yodi]

We had the same search criteria when we were looking to buy. I agree with Livecontent's advice to look near the light rail or proposed light rail lines. Our search boiled down to Arvada and Englewood. Both are affordable close in older suburbs of Denver. We ended up choosing Englewood because of it's proximity to Denver and being right next to areas of Denver that we love such as Harvard Gulch, Platt Park and DU. We love the walk-ability and it has excellent public transport options.

The City is actively making improvements to the downtown and retail areas. The school district is also making positive changes. The library is very kid friendly with lots of programs for kids. We mainly chose it because we like older neighborhoods with mature trees and character. We feel that it's an area with a lot of potential but at the same time already nice enough where we could be happy even if it stays exactly the same.

Good luck with your search.

[Scott5280]

If you are considering the Congress Park area outside of a very small duplex or condo you will pay substantially more than 200k. Above poster's suggestion of Englewood, Arvada might be more in line.
There are a few homes south of DU between Yale and Darmouth where you could consider purchasing for under 200k. I looked at one for an investment recently in the area at 175k, small 800 sqft. home, but it had a large lot. I guarantee you this will be one of the best next scrape and build higher end neighborhoods. People scream about this type of intrusion on the older neighborhoods, but you can either buy their now and wait or watch someone else milk that cash cow..it's not going away reguardless on your views on the subject near DU. Another thing to consider about that area of mention..mainly Williams, High Street/Darmouth is that rents are high enough to cover most mortgages should you consider renting it out..and rents are going no where but up there.....

[steveindenver]

That price in Denver for a single family home. North of I-70.

Nearest to Denver in that range is going to be the 80010 zip code.

[Nav]

Also, dont forget that Urban Denver areas are now in a sellers market, not a buyers market for the <250k price point. Inventory is down to only several months instead of the typical 6. This is why Denver made the top on Forbes Magazine's latest list of recovering cities. The days of rock bottom prices have all but fizzled out since the real estate market is on the upswing.

That is Urban Denver...The Suburbs have not had such a swing as of yet. Deals are still to be had if you are willing to go outside of downtown 10-15 miles. Check with a realtor to find out how a particular area is doing at the time.

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