Area of the metro where town homes and condos are in demand by buyers? (Denver: low income, HOA)

[murof]

I could see home buyers doing a search for town houses in boulder, even those who are out of state. I could not see many people being excited about doing a search fortown houses in aurora. If I do buy a town house instead of a regular house, I wantreasonable assurance that it's a place other people want to live. Like I was saying,I don't want to be saddled with a condo that won't sell, or doesn't garner much interest.

[Katarina Witt]

I love Louisville, and there are several condo complexes there, but I will warn you: it's very family oriented. It is however, close to Boulder where you could go for nightlife.

[2bindenver]

Unless you are in downtown or LoDo, Denver is pretty suburban in feel. If there is such a place with high demand, it would be more than $150,000 like LoDo.

There are some nice multi family units east of Colorado and north of Cherry Creek Drive, or in the DTC.

You won't be saddled with any place, anywhere unless you overprice it. There is always someone willing to buy if the place is priced well.

Most people look for proximity to transportation/jobs/recreation/shopping. Those place become more desirable over time. Like LoDo, Highlands, Wash Park, Stapleton, DTC, Old South Pearl, South Gaylord, North Englewood, Belmar....

[murof]

Originally Posted by 2bindenver

Unless you are in downtown or LoDo, Denver is pretty suburban in feel. If there is such a place with high demand, it would be more than $150,000 like LoDo.

There are some nice multi family units east of Colorado and north of Cherry Creek Drive, or in the DTC.

You won't be saddled with any place, anywhere unless you overprice it. There is always someone willing to buy if the place is priced well.

Most people look for proximity to transportation/jobs/recreation/shopping. Those place become more desirable over time. Like LoDo, Highlands, Wash Park, Stapleton, DTC, Old South Pearl, South Gaylord, North Englewood, Belmar....

Good ideas, thanks! Kat, I'm not concerned about proximity to nightlife. I want to be situatedin a specific area where other's want to live. I don't think it matters whatthe price, not too many people get excited about buying a condo atBuckley and Iliff, for example.

[2bindenver]

I am not Kat, but I do take that as a compliment.

The main point is high demand locations are also higher priced.
For example, a Oakwood home in GVR would sell for $175,000 on the golf course. The same sized house built by KB would be $375,000 in Stapleton, not on the golf course.

People buy townhomes near Illif & Buckley because they are a good value for their money. People buy everywhere, all over town. Focus on what you need, and where you need it.

Buy with selling it in mind. But first buy what you need. Chances are that when it comes time to sell, someone will be looking for what you did, and buy your place.

[Count David]

I'm going to go with the DTC area as well, specifically zip 80237. Either side of I-25 would be fine, but I'm really thinking of some west of I-25 just south of Hampden off of Ivanhoe. (I think they're called Southmoor West, but I'm not sure.) Seems like your (the OP) demographic there.

That's it, that's the place.

[Katarina Witt]

Originally Posted by 2bindenver

I am not Kat, but I do take that as a compliment.

<snip>
Buy with selling it in mind. But first buy what you need. Chances are that when it comes time to sell, someone will be looking for what you did, and buy your place.

LOL, thanks, 2be. I think the OP was referring to my statement about not much nightlife in Louisville. Most of the "nightlife" here is in your own home, in front of the TV or curled up with a good book, or, if you are crazy like me, in front of your computer on CD!

[2bindenver]

Originally Posted by Katiana

LOL, thanks, 2be. I think the OP was referring to my statement about not much nightlife in Louisville. Most of the "nightlife" here is in your own home, in front of the TV or curled up with a good book, or, if you are crazy like me, in front of your computer on CD!

You are right Kat. I read the whole sentence wrong. Oh well.

Nightlife? I bowl on Wednesday evenings, sometimes go to dinner with friends (read Realtors, Appraisers & Lenders) or family. Otherwise, I am home supervising homework, dinner and watching TV.

[murof]

Yes, I know Kat isn't 2Be, my words run together, and it made it seem like I wasimplying Kat was the recipient of my gratitude. The reason I suspect my wordsrun together is because I am operating through a proxy server. My account was bannedfor something stupid a couple of years ago and getting it unbanned is seeminglybeyond anyone's ability. I have tried, and it's too complicated. Yes, I know you are right, 2be, about buying a condo at the crossroads example of Buckleyand Iliff, but for reasons I don't quite understand, I cannot allow myself to do it.My gut steers me away from going there. Yeah, I like the DTC idea, a lot. I have only seen that area from the Interstate,but that could be the ticket. Of course I am far from my work at Havana and I-70but I am sick of limiting myself to the depressing areas of North Aurora, CommerceCity, and GVR. ugh! Really it's not about nightlife, it's about being around working professionalssolid real estate, and the overall demand of the neighborhood/town. Well, I guessI have bored you all enough with my real estate problems. I'll probably be bannedagain, once my proxy status is revealed.

[movementarian]

Originally Posted by murof

I am thinking a house would not be a good purchase for me. Being a singleguy in my 40s, whenever I look at a house in the suburbs, I get strangelydepressed. I think it's because I am single and alone and do not feelthe typical SFH environment would suit me. I am looking for areas in whichtown homes (or condos) will have a strong demand....

I have three areas in mind, please commentif you can: Stapleton, Louisville, and Boulder....

I only have 150K to spend on a home. Thanks for your help.

Interesting post and questions. I'd say don't focus exclusively on demand - SUPPLY is the other side that determines prices. Areas like Downtown/LoDo can put up condo towers if demand grows to a profitable point. Stapleton will probably be building out for the next decade or two. So supply will continue to grow in these areas with demand, keeping prices relatively in line.

From a strictly financial perspective, ideally, you'd want a place with some of these things:
- desirable/beautiful/well-located area
- a place where housing was entirely built out
- a place where new housing can't expand outward because of geographically limitations
- a place that had such tight restrictions that existing buildings couldn't be demolished to build condo towers

That's part of the reason why beachfront homes in places like Palm Beach or Malibu are so expensive - the supply of beachfront homes is limited by nature and policy.

So of the three areas you mention, I'd say Boulder is the best choice. They have such strict growth and teardown/rebuild policies. Demand also always seems high because so many out-of-staters view it as some sort of Shangri La.

Then you just have to find a well-located condo that meets your needs, is $150k, and is not already overpriced for $150k.