Monday, April 20, 2015

Housing Demand is at a 50 Year Peak in Denver

Housing demand is important, otherwise there are no reasons to build low and zero energy homes.

Here's some advice for house hunting new Denver immigrants:
Your best option is Capitol Hill, where the older, more affordable apartments are.

Older neighborhoods close to light rail have 2-3 bdrm homes for $1700 and up.  Some have basements which will add 1-2 more bdrms.  All these close in neighborhoods have started getting their own brewpubs too.

I have some rental homes, and it looks to me that the market will stay incredibly tight this year.  That means a feeding frenzy for every advertised house or apartment.  So using Craigslist to find a rental can be a frustrating waste of time, with a lot of disappointment and wasted application fees.

My advice is to find some solid management companies that seem to have a lot of inventory of apartments and homes.  You can pay an application fee and if approved, get on their waiting list.  Make sure they explain to you how their waiting list works.

You simply can't wait for a showing to see if the place will be acceptable.  Find companies you trust and jump on what they offer you.

I like and have dealt with Cornerstone, Wheelhouse, Boutique Apartments, Fourstar, Distinctive Dwelling, Realm.  I'm sure there are more out there I don't know about, but the newer ones could be scammers.  Read the Yelp reviews, but take the occasional bad reviews with a grain of salt, otherwise none will make the cut.

I haven't heard of anyone testing this method yet, so please report back if you try it.

BTW, more than half the renters I talk to these days are new to town and moved here because of legalization.  I think most folks have really underestimated the economic impact it is making.

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