Buying Denver Real Estate

Get tips from the pros to make the most out of your next Denver house purchase.

Found 3 blog entries about Buying Denver Real Estate.

After showing a bunch of condos over the past few weeks, I wanted to see how HOA dues affect the price per square foot and if I could find a correlation between the two. Because a buyer that can afford a $400,000 condo would have a hard time justifying HOA dues of $800 per month, but would have no problem paying $200 per month.

I exported data for 2015 in the city of Denver. Then I created and calculated an “HOA Factor”. This factor would represent how the HOA dues relate to a sale price and therefore the price per square foot.

The HOA factor is basically the relationship of sale price to HOA dues:

Price = $400,000, Dues = $200
HOA Factor = 0.5

Price = $400,000, Dues = $400
HOA Factor = 1.0

Price = $400,000, Dues = $800
HOA Factor = 2.0

I started with

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Although the weather may tell another story, fall has finally arrived. Third quarter is behind us and spring’s volatile market conditions have given way to a healthy, but not-so-crazy, pace. Which makes this the perfect time to take a breath, look back and assess the situation in Central Denver.

Since the beginning of the up market (2012) in Denver, we have seen a very even distribution of sales between the first and second half of each year, varying by only a few percentage points:

 

So far, 2015 seems to be matching this pattern.
• The first half of 2014 saw a total of 4,080 sales in Central Denver
• The first half of 2015 saw a total of 4,061 sales, or 19 less

Now, let’s look at Central Denver price changes in the first three quarters of 2015.

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house_on_seesaw_200I will often ask buyers what ratio of their purchase is the “perfect home” and what ratio is the “perfect investment”. If I had to generalize, I'd say most buyers are looking for a home, and the investment is a secondary concern. The ratio may be be 80/20 or 70/30 in favor of the perfect home.

I tend to place more emphasis on the investment side of the equation, or more importantly, how the house appeals to the largest audience so it sells quickly later when these buyers are ready to sell. In most cases, you can find a nice home with great resale potential on the market. Pointing this out to buyers can help them have the best of both worlds.

Buyers can raise the investment potential of their purchase simply by considering a few factors when buying a

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