Some home prices are actually rising in Denver (Aurora, Englewood: rental, condo)

[multitrak]

Some Home Prices Are Actually Rising in Denver - US News and World Report

per request

[tfox]

According to their map, rising values are found in the following areas:

* 5 Points / Curtis Park
* Parts of North Denver (Jefferson Park, Sloan's Lake)
* North Capitol Hill
* La Alma / Lincoln Park
* Some areas around City Park
* Baker
* Stapleton
* Parts of Lowry
* East Wash Park
* Country Club / Belcaro / Cherry Creek
* Hilltop
* Virginia Village
* Platt Park
* University / University Park / University Hills
* Much of the Leetsdale / Parker Rd Corridor
* Barnum West
* Much of Southwest Denver

As expected, the very wealthy areas like Cherry Creek and Hilltop continue to rise (buyers there aren't affected by recessions). The popular areas du jour like Baker, Platt Park, DU, Sloan Lake), continue to rise, no real surprise there. Stapleton and Lowry continue to be popular (they're offering the new construction a lot of people like). 5 points appears to be continuing to gentrify, which doesn't come as too much of surprise given the investment made there.

I was a little surprised at the popularity of parts of southeast (Leetsdale/Parker) and Southwest Denver, but I think this makes sense as well. These close in, diverse areas that were formerly neglected are coming to be appreciated on their own terms (they're also fairly affordable, which helps).

[dj32]

Thank you! Thank you multitrak. I thought people, especially newcomers asking for recommendations and receiving many of these would appreciate this article. Wish this stuff was front page news more often!

[Dorthy]

Maybe I'm misreading the map but it actually looks like prices went down in Hilltop. I wish it wasn't true because we own a condo over there but when I look at that map Hilltop is in red.

[tfox]

Originally Posted by yodi

Maybe I'm misreading the map but it actually looks like prices went down in Hilltop. I wish it wasn't true because we own a condo over there but when I look at that map Hilltop is in red.

You're correct; I was mistaken. Hilltop is red.

[Katarina Witt]

It's interesting how the red and green areas are often adjacent to each other.

[steveindenver]

So far as I can see .. none of Lowry and none of 5 points are increasing contrary to your post. I would also note that very little of southwest Denver is appreciating as well.

The reality is most places will continue to decline. A few pockets might trend behind the rest.

In the interestes of not ****ting on the parade, here is an intersting graph that compares price inflation Denver vs L.A.

CSDenverLA.jpg (image)

The fact that Denver home prices generally reflected the price of overall inflation is in fact a good thing. Now if we could just get more people to understand that owning a home is a liabilty and not an investment we would be making progress. [mod cut]

[tfox]

Originally Posted by steveindenver

So far as I can see .. none of Lowry and none of 5 points are increasing contrary to your post. I would also note that very little of southwest Denver is appreciating as well.

The map is very fuzzy, and the legend is hard to read, so I understand why it's confusing. Blue and Green indicate appreciation, yellow and red indicate depreciation. 5 points is blue, parts of Lowry are blue, and southwest Denver has some of all four colors.

[denverian]

I live in Stapleton and while I don't think prices are falling, they don't seem to be rising either. I'd say they've been flat for more than a year.

[mtbmike]

Interesting data on a zip code by zip code basis that compares Q4 07 to Q4 06. Lots of negatives, but positive as well, so don't expect the entire market to be down.
Zip Code Price and Volumne Data for Denver

I just spent the last couple of weeks looking at homes in South Metro, from Ken Caryl to South Aurora (Smokey Hill) and all points in between. We are relocating to the Denver area and I think our realtor did a great job of educating us on what your $ buys at various price points in south metro. While there are some deals to be had in terms of price the real deal is the availability of inventory and the motivation of the sellers.

I think it's a different buyer that buys to flip or as a rental vs a family. So it’s kind of 2 different price discussions. I did not look in neighborhoods that were down 40%. We had some specific criteria based on our family and I think you could be a little pickier as a buyer. Some houses that should have gone immediately seemed to be on the market longer. Some people may be willing to accept a lower offer if the house has lingered for several weeks, however you always have to question why it hasn’t sold. Will you have trouble selling it too?

The other deals I think that are out there is that there is slightly more availability than normal of homes in Greenwood Village, Englewood, Centennial (Cherry Creek schools). In terms of price you still have to look at comps in the neighborhoods and they may be up or flat depending on where you buy.

I read these forums a lot prior to going, but there is no substitute for spending several days touring homes, schools and neighborhoods. As well, with all the trolls, speculation and bias you can’t always belief everything you read.