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Denver Real Estate - Get it while it's hot!

May 26, 2008
Are you considering a move to the Denver Colorado area? The Denver real estate market is suffering in addition to the rest of the nation. Depending on your current housing status, this can work for you or against you. While there are many families finding themselves in a bad position and unable to find a home or to obtain financing, others are finding rock bottom deals on beautiful properties in the Denver real estate market.

Many have wondered why the nation is experiencing such a turbulent housing crisis over the last 12 months. Many factors have helped create this situation. Thousands of homeowners in Denver alone have had their homes foreclosed due to unfortunate events in their lives or perhaps due to poor decisions they might have made when securing financing for their new homes.

Many individuals compounded the problem by taking out second mortgages on their homes in the hopes that their home values would continue to climb. When this didn't happen, they became unable to keep up with the increases in payments, even becoming "upside down" in their mortgages. This difficult situation occurs when a homeowner owes more on the home that the home is worth.

Many families have foreclosed on their homes because they agreed to adjustable interest rate mortgages but didn't understand how high their payments really could be. When the interest rates rose, so did their payments, to levels they couldn't afford. This also caused many homeowners to lose their homes.

Today, many investors have begun taking advantage of the declining prices of homes due to these foreclosures. And, instead of renting out these homes, many investors are leaving the homes empty while they wait for the market to recover. Once this recovery occurs and home prices begin to climb again, these investors will be in a good position to make a solid profit.

Many people who have not been negatively affected by the housing situation in Denver will experience a benefit from the low real estate prices currently being seen in many areas of the Denver real estate market. There are literally hundreds of fine homes from which to choose, often at prices 40% lower than what we saw just two years ago.

Areas where there are tons of homes to choose from include areas like Aurora, Littleton, Wheatridge, and more. There are areas that aren't being affected too much by the housing crisis and they are still selling. The areas that are still hot on the market include Evergreen, Conifer, Morrison, and other areas in the foothills. The prices of these homes did drop in the past year but you can see on the market the prices are beginning to rise again.

Many people in the Denver area are suffering through the housing crisis. Many others are actually experiencing great benefit from this turbulent housing market. The rentals are in such high demand that it is now a landlord's market with rents greatly increased from where they were a year ago. Perhaps now is the perfect time to work with a realtor to find that ideal investment property in Denver in order to take advantage of this downswing in the market.

If you're not already thinking about investing, you might be too late!
About the Author
A qualified realtor makes all the difference in the world! Jim Lux of the DeLUX Team of Realtors understands Denver real estate. Visit his website at to learn where and when to buy that perfect Denver property.
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