The Real Estate market can be intimidating, especially when the media scares you to death! The media loves to sensationalize, as we all know. The problem is that the general public tends to believe the first thing they hear and rarely does any background check to see if what they are hearing is substantial.

Currently the media is using the mortgage problems and lower home sales to blather on about the "doom and gloom of the market". In reality, there are many bright spots in the market, as long as you know where to look. Older, desireable neighborhoods not near new build areas are the best bet here! The problem with most of the real estate market is that people living next to new construction are competing with the new home sales, which have plummeted due to the home builders' needs to cut inventory. This is driving down the prices in the newer areas. The older neighborhoods don't have to worry about this. That coupled with the fact that a down market means that there are still 85-90% of the normal buyers and sellers are still out there!

Denver is also lucky enough to have been in a bit of a down market when all this began. Why is that a good thing? Well, because the Denver market couldn't drop far when the stuff hit the fan, unlike Vegas, Phoenix, South Florida, and other areas that were in their peak boom. Those areas got rocked. The Denver market on the other hand, just made a mild dip and is now jumping back up, much quicker than the rest of the country.

So, what does this mean? It means that areas like the older neighborhoods in Denver, are great investment areas and are still doing very well, even in a bad market. The older neighborhoods around Denver's CBD have been in a state of revitalization for years with many families looking to move closer to downtown to lessen commutes and take advantage of the unique shops and restaurants that can only be found there. Neighborhoods like Washington Park, Cherry Creek, Hilltop, Crestmoor, Highlands, Platt Park and the DU area, Observatory Park, Park Hill, Mayfair, Country Club, Congress Park, and the areas around City Park are all areas realizing this revitalization, and are all doing well in this market. Most of these areas are not only holding strong against downturns in the market, they typically still show gains. They then grow at a much faster rate during better times, making them some of the best investments a person can make. The reason these areas hold their value is because they are located in areas where there is a finite product. There are no more areas to buy land. There are no new home builders around to compete against. That coupled with the desire of people to live in the areas makes these neighborhoods some of the best investments out there.

So, in conclusion, even though the media has spawned this idea that the market is a horrible place right now, there is a great silver lining in it. For all of you looking to invest, or looking for your next home, give me a call and I will help you find that solid investment!

Best Regards,

Your friendly neighborhood Denver Realtor
Doug Haughey
303-918-1408
dhaughey1@hotmail.com
www.greatdenverhouses.com