Relocating to the Denver area? Here's what you need to know

This blog was contributed by Scott Rodgers with eXp Realty in Denver, CO. Want to become a contributor? Email support@setschedule.com. If you are considering relocating to Denver, congratulations - you are in good company. The Denver area has experienced quite a bit of growth the past several years. During the recession of 2008-2009, Millennials were moving to Denver because it was one of the few places in the country where they could find a job and enjoy where they lived. That growth has since expanded across all types of people. The long-term (let's say 20 years) outlook for growth in the Denver area is quite positive. Since the early 1990's Denver has been steadily growing. The oil and interest rate shocks of the late 1970's and early 1980's stunted Denver's growth for about a decade, but it has been making up for lost time ever since with growth spurts in the 1990's and since the last recession. This is all good news for anyone who buys a home and hopes for it to appreciate. Denver's real estate market is very much a supply and demand market. Basically, there is not enough supply of homes to meet the demand, which has caused prices to adjust upward. Low mortgage rates (low cost of money) and relatively low taxes have also allowed home prices to increase quite a bit in recent years. When relocating to a new area it helps to have a sense for what type of a place you are looking for. Maybe you want something similar to where you are now, or maybe you are looking for something new. If you are into the hip areas with more density and activity, look into the central Denver area (including LoDo, LoHi, RiNo, the Highlands, Cherry Creek, and DU/Platt Park neighborhoods). If you want something a bit more low key in the city that is not right around the corner from these more active areas, look into the Washington (we say "Wash") Park, Hilltop, Virginia Village areas. Stapleton and Lowry are newer developed areas within the city of Denver and offer varying experiences (more dense to light suburban neighborhood). Outside of Denver, checkout Olde Town Arvada, Belmar in Lakewood, Historic Downtown Littleton, and even downtown Parker for areas with charm and a town center feel. If you want a bit of suburban feel while still being in the city of Denver and close to many things, checkout the Hampden South area. Or, go further south to Centennial and Littleton to find many well established suburban neighborhoods with lots of open space and good schools. If you like character and have a big budget, look into the Bonnie Brae and Country Club areas. If you have a big budget and want something not too far away that feels like it is more in the country, like a horse ranch, look into Greenwood Village. Highlands Ranch is one of the largest planned communities in the country and is now very well established. If you like convenience and the suburbs, check it out. In the northeast, a couple areas experiencing a fair amount of change are the old Fitzsimons Army complex (now UC Health, CU Med School, VA, Children's Hospital complex) and Green Valley Ranch areas. Fitzsimons is undergoing redevelopment along major roads with a huge heath complex. And Green Valley Ranch is mostly newly developed homes on the doorstep to the Denver International Airport. These areas offer a bit more affordability with anchors that will support values into the future. Golden to the west has more of an Old West vibe and is on the doorstep to the mountains via I-70. Our real estate growth is coming in two forms -- infill in the city, and expansion mainly to the east, north and south. Infill is basically where a property is torn down and a new building is built up. This may be a multi-unit complex or a large single family custom home. Cherry Creek, Wash Park, Cory-Merrill, University Park, and the Highlands have experienced quite a bit of infill to a point where it has transformed the neighborhoods. Downtown Denver went about 20 years without a new skyscraper, from 1985-2005, as development moved south of Denver to DTC and up highway 36 toward Boulder. That has changed big time the past 10 years as a new wave of downtown development has transformed the urban experience with new office skyscrapers and apartment/condo towers. The Denver area has a lot to offer new residents. It's up to you to decide what fits you best. If you are considering moving here, I would be happy to help you think through your options and with the purchase of a new home. I am a Denver native and have lived and worked in various parts of the metro area for the past 40 years. You can connect with me here - https://www.denverhomeagent.com/relocation/