Buy low, sell high, it happens
Denver’s market may not be on the “hot market” list anymore (at least until Spring), but the new ranking is a good one. Denver metro real estate is considered to be the 6th best return on investment. According to the article, home owners who sold within the last year, that purchased sometime after 2008, capitalized on an average of 11% appreciation. That means a lot of people took advantage of the down market by buying low. Of course, we don’t know what the future holds, but the general consensus is that the market will continue to rise, and therefore continue to be a good investment.
The weather and real estate
The only constant is change, especially when talking about the weather. It is interesting to observe how long-term weather patterns affect human behavior and migration. For instance, in Florida the houses inland from the coast are appreciating faster than at the beach. Some theorize that the Florida coastline will eventually be underwater. Even so, that doesn’t seem to worry developers (who will probably find a way to market Venice-style living!) They bank on the belief that people will always want to live by the water… Kind of like having a mountain home.
Ongoing: Attention Denver Citizens and Landlords!
Denver City Council has proposed to require landlords to accept Section 8 tenants by adding “source of income” to the list of things a landlord cannot ask about or consider when selecting a tenant. Some landlords love Section 8 and some hate it. If this bill passes, you no longer get the choice. Read the proposed bill here. If you live in Denver, call your representative and offer your perspective.
QUOTE OF THE WEEK
“Whenever you see a successful business, someone once made a courageous decision.“
See you soon,