Denver's real estate
It's been a busy summer. I realized yesterday after returning from a few days in Florida that July is almost over. I barely got used to thinking of it being July and now it will be August...
The Denver real estate market has so many anomalies, it's sometimes difficult to put it all together.
The foreclosure rate is reaching an all time high. However, in parts south of the Metro area, Highlands Ranch and Lone Tree for example, homes are selling within 98% of their list price.
It appears the foreclosures are located to the northeast of the metro area in the newly developed areas of Adams County. The unfortunate situation is due to a variety of factors. My guess is the "easy money" lending practices of late, mixed with builder's wonderful back breaking "incentives". Homeowners must realize when purchasing a new home, they need to "stay put" until they accumulate equity.
The commercial real estate market is doing well. Retail space is leasing and much more is wanted.
Downtown Denver hotels are being built at a furious pace to host visitors to the lovely Convention Center.
Unemployment is down.
Denver is still a great place to live. Come see for yourself!
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