Where Are the Hottest Neighborhoods in Denver?

Denver Heat Map - 12 Month Estimated Value Change in Real Estate

As I have been relentlessly preaching recently, Denver's real estate market is coming back. But this normally raises the question of "where is the hottest place to buy right now?". It is one thing to be in the industry a see this on a day-to-day basis, or to have a friend at work recommend ______, but to actually be able to visualize it is another. Below is a heat map of the 12 month change in estimated value (I pulled this just now, so it is current as of 6.23.12 @ 10:45am):

Here is how the map breaks down:

Heat Map Legend

While there are clearly smaller pockets on the map, the areas that I want to highlight as the hottest in Denver are the closest suburbs to downtown. For the last decade or so, we have been seeing a lot of reurbanization (may have just made that term up). By this I mean that people are moving from the distant suburbs, trading in their 2,500sf+ home, and downsizing along with the desire from my generation to live in urban centers. The increased values in these areas can be attributed both to new commercial ventures, renovations being done on the homes and a spike in demand.

Factor in the charm of the homes and the areas, and it is easy to see why people are making the move. Boutique shops, parks, mass transit, events, bike trails and more social interaction with your neighbors are all key reasons why we are seeing Highland, Five Points, City Park, Park Hill, Baker, LoDo & Riverfront start to boom again.

If you live in one of these areas, I'd love it if you would share what you like about it below. Thanks for reading.

MG

Invest Now

Did you know that Denver is currently the #2 rental market in the country? With demand higher than it has ever been in the Mile High City for rental properties, vacancy rates are at all time lows (my dad's company, Simpson Housing Group, currently has occupancy levels around 95% for their Denver properties). Factor in some of the great deals you can find on short sales and bank-owned properties and this is the perfect time to buy an investment property (property you own and lease out, acting as the landlord or having a property management company help out). Rates are also at history lows (as everyone knows from all of the ads constantly playing) which means you can get a property below market value, with a super low interest rate, in a market that you can almost instantly lease it out. If any of this sounds intriguing to you, contact me, follow me, or comment and let's get you in an ownership position that is comfortable to you. Happy hunting.

Homestead Farm: Surprisingly Not a Farm

So I have decided that I am going to start doing some blogging on some great neighborhoods in my area, and the first is going to be of the neighborhood I was raised in and currently reside, Homestead Farm. I'm going to be discussing aspects of each neighborhood on a weekly basis, with the whole process per neighborhood taking about three weeks. Whether or not you live in the area, I hope this will provide some inside knowledge on the South Metro Denver area, so check back in weekly.