Forbes names two Colorado cities in their list of top 10 Best Housing Markets for Investors. Forbes suggests that following the investors’ interest in Denver and Colorado Springs be a good idea for home buyers. These cities pique interest because their home prices have bottomed out and are expected to see a dramatic increase.
Our exclusive buyers agents have a similar analysis. They show that this is the best time to buy since the mid 90′s because of the low home prices and the pressure placed on sellers. Home sellers that are serious about selling their homes in the current market need to be competitive. That means they are making large price reductions, and will not ignore offers made by serious buyers. As the “Real Estate Season” ends, time is of the essence for home sellers that don’t want to wait until spring.
Exclusive buyers agents also show that because of low mortgage rates, buying a home is more affordable than ever.
Investors are looking for cities where home prices have dropped, but that have signs of improvement over the next few years. Signs like an increase in population before the recession began, job growth and the mix of jobs in the area.
Colorado has seen an increase in population since the 1930′s.
Denver Metro has seen its population rise at an average pace of 1.9% for the last ten years. An interesting fact is that a significant portion of this in-migration is made of highly educated workers. This is one factor contributing to Denver’s desirable and qualified workforce. The population of Colorado as a whole has seen growth since the 1930′s, which is not true for many states.
If one industry makes up the majority of jobs, it can make for an unstable economy. On the other hand, a good mix of jobs means that changes in any industry will not destroy the overall economy.
Forbes List of America’s Best Housing Markets for Investors
1. Raleigh-Cary, North Carolina 2. McAllen-Edinburg-Mission, Texas 3. Austin-Round Rock, Texas 4. Nashville-Davidson-Murfreesboro-Franklin, Tennessee 5. San Antonia, Texas 6. Colorado Springs, Colorado 7. Albuquerque, New Mexico 8. Denver-Aurora-Broomfield, Colorado 9. Springfield, Missouri 10. Indianapolis-Carmel, Indiana
Local Market Monitor, a real estate research firm, compiled the list, which is based on predictions of job growth, population changes and where home prices have reached the bottom.
Denver Metro has a healthy mix of industries.
The 2010 Economic Profile for Metro Denver shows a healthy job mix of Fortune 500 companies representing the telecommunications, internet services, packaging and aerospace, real estate, engineering, healthcare and beverage production.
Colorado was already named a “Top 3 State for Business” by CNBC, and both business leaders and government representatives work to rank even higher.
Another important reason that Colorado is a great place to invest that is not considered in this ranking is quality of life. Colorado frequently tops the quality of life lists for reasons like our world class outdoor recreation, pleasant climate and air quality. While “outdoor recreation” may not have a dollar value in financial analysis, but it can definitely contribute to a healthier and happier life.
Interested in the Colorado housing market? Stay informed by reading our blog filled with market information, reasons to relocate to Colorado and valuable resources for home buyers. Or, get in touch with an exclusive buyers agent to discuss the specifics of your move.
categories: housing market,exclusive buyers agent
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