There are many reasons why investors find Colorado real estate a hot topic, even in today’s crazy marketplace. Fortune published a report about a new Realtor.com survey of the nation’s hottest zip codes which puts Colorado Springs top of the list for 2021. Residents living in zip code 80916 saw a favorable mix of heightened interest in house listings culminating in fast sales contributing to its No. 1 ranking. This has also driven demand for Denver rental properties, attracting those moving from out of state to live here but can’t just immediately afford to buy a home.
In our blog from May 2021, we talked about the investment opportunities in real estate in the Mile High City. “There is a bustling movement surrounding the city and you can feel the energy of the changes that are happening right now. It is a city on the verge of newness.”
Denver’s increasingly growing economy attracts many people to the area and during this time there is a lack of affordable homes. Denver housing market has officially hit ‘Turbo mode”, says this article from the Home Buying institute.
Quote from them, “According to a recent nationwide housing report, the Denver metro area is one of the fastest-moving housing markets in the country. At least among the nation’s 50 largest metros. And that’s not surprising, when you consider the supply and demand situation within the Denver real estate market. Steady declines on the supply side, combined with strong activity on the demand side, have made it one of the hottest housing markets in the country during 2021.”
Investors Provide Housing
This is a great opportunity for investors, to plan ahead and target their funds towards the hot real estate market. Many potential out of state buyers are in desperate need for semi-temporary quarters. They need access to a condo, apartment or small home rental. So where do investors even begin?
Forbes Real Estate Council published an article on how to get started in Denver’s Investors market and provides four scenarios for locating properties that would be ideal for the first-time investor.
Scope Out The Schools
Buying properties located in a super school district or near by a university, are good beginning search options. You can search on a website like GreatSchools.org, looking for schools that score at least 7 out of 10. Then base your property search within those prime neighborhoods.
Lean towards properties that have split plans or separate entrances. These options are appealing when eventually renting. Many single family homes might also have additional dwelling units that can legally serve as rentals and are in extremely high demand because of the scarcity.
GeekWire discusses investments in an article published July 8, 2021, “Diversifying your investment portfolio is essential. If you put all your eggs in one basket, you could suffer a total loss in the blink of an eye. But when you invest some funds in the stock market, other funds in bonds or ETFs, and some in real estate, you increase your chances of higher earnings and fewer losses.”
If you do your homework, and secure one of the specialized real estate brokers from Katchen Company, the outcome, most assuredly, will surpass your expectations.
