Are you hunting for the right house to fix and flip, or perhaps a commercial property that you can invest in and rent out?
Knowing what to expect in the Denver housing market this fall can help you look in the right places for the investment property that will get you the highest return on your money.
This Fall Might Be the Right Time to Buy
Denver has remained one of the most desirable places in the country for both homebuyers and real estate investors. The city and its suburbs are attractive destinations for families and workers seeking employment opportunities. And the real estate market has benefitted from the area’s popularity.
Like many other parts of the country, the Denver area has experienced some declining real estate prices recently. This could be good news if you’re looking for a bargain that can help increase your profit margin on a fix-and-flip, or if you’re hoping to get a rental property at a lower price.
Other good news: the real estate market in Denver, overall, appears to be more stable when compared to other cities around the country that have seen declines in prices and sales. In Denver, real estate prices are expected to increase, so if you buy now, you might be able to reap the benefits of a boost in value in the future. Plus, with low-interest rates on loans, this might be the right time to make the investment that you’ve been dreaming of.
A Few Recent Stats to Consider
Despite positive predictions, there’s also some information from the Denver Metro Association of Realtors that’s worth considering. Here’s some of their data from August 2019:
- Denver area properties were on the market for an average of 30 days
- The average sold price dropped by around 1.3% to nearly $489,000
- The number of homes sold dropped by nearly 11%
- Active inventory was down by .10%
If these trends continue in the near future, you might notice that there aren’t a lot of properties to choose from, and if inventory remains low into the fall season and beyond, you might experience extra competition when you’re ready to bid on a property.
However, if properties become a bit more affordable and interest rates remain low, it might be an ideal time to invest, especially if you’re on a tighter budget.
Anticipating More Renters and Buyers
Another great reason to invest in Denver housing now: experts predict that both baby boomers and millennials will be ready to buy or rent.
Millennials will be prepared to settle down and buy their first home or find that perfect rental. And they’ll be looking to Denver because it’s a location where they can find the work-life balance that they seek. They’ll search for homes that give them easy access to employment and entertainment.
Baby boomers will also be looking to rent or make real estate purchases as they retire and downsize. But, because they still lead active lifestyles, the Denver area, with all of its activities, is attractive to this older demographic as well.
As more and more homebuyers and renters search for their space in the Denver market, the odds of selling your investment property, or finding tenants for your rental property, could greatly increase.
Your Next Investment Opportunity Might Be Around the Corner!
It appears that the Denver housing market will offer many opportunities for buyers in the fall of 2019. If you’re ready to make your move, contact us today to learn about the loan options that are available to make your investment aspirations a reality.