Denver real estate – as much a mystery as any market. Our real estate market has always seemed to be counter-cyclical to the rest of the U.S. and when we’re booming, California is busting. When we’re on a downward slide, Florida and Nevada are hotter than hot. The conventional wisdom around here used to be that we were a one-industry town, and our dependence on one industry meant that we rode it up and down regardless of where the balance of the U.S. economy was.
Oil No More
Our economy has diversified since the early 1990’s. We parrot Martha Stewart, “that’s a good thing.” But, we saw the bulk of the U.S. experiencing huge appreciation rates through 2006, while we were in the early doldrums beginning in 2002. Many sellers here were frustrated, but still some city-close neighborhoods saw significant appreciation.
Now the headlines are covering the mortgage meltdown; it’s a scientifically proven fact that bad news sells papers. With the reduction of qualified buyers able to purchase a home, the high level of inventory could take awhile for us to sell off. Certainly, true for some neighborhoods, but our market in Denver is in good shape for 2008. We were only off by 1% in 2007 from 2006. I’ve been selling homes in Denver for 12 years, and this time of year always feels optimistic. I know that the recent bump-up in showings is a great sign for our buyers and sellers.
Location, Location, Location
Real estate is local – heard that one before? Lawrence Yun, The National Association of Realtors economist visited Denver in January and said, “Denver is one of the markets to watch. Austin already has seen a boom. Denver will be among the next markets to see a boom.” Our location can’t be beat. Well… maybe by Tahiti. We don’t have the blue sparkling waters, but we do have 300 sunny days a year – a scientifically proven fact, a great outdoor lifestyle, access to a world-class international airport, and the mountains out our back door. We also have terrific schools and first-rate shopping (Nordstrom and Neimans, yea!).
Cottages to Castles
“What are your houses like?” I hear that one a lot. Hard to answer. What are you looking for? We have beautiful stately neighborhoods like Country Club and Cherry Hills Village. We have older Tudor and Bungalow styles in Washington Park and Bonnie Brae. We also have so much new construction in the suburbs that you can find any style of house you like. There are some fabulous examples of modern and contemporary construction throughout the city, in a variety of price ranges. Ever heard of Krisana Park? As beautiful an example of Usonian architecture as you’ll find anywhere.
Come visit Denver and see for yourself. We have a growing economy, an unbeatable location and any style of house your heart desires. Ignore the press, read the blogs.
Gretchen Rosenberg is a Denver area Real Estate Broker, find her listings at GretchenRosenberg.com