When it comes to real estate, things actually aren't so bad here in Denver. Our guide to the myths and realities of the local market will show you why. Plus: How to refinance your mortgage, remodel on a budget, and rehab your IRA with real estate investments.
By Luc Hatlestad
May 2009Page 1 of 7
Enough Already.
Yes, these are the worst economic conditions since your grandfather's primary vehicle was a tricycle, with no end and little clarity in sight.
So let's gather ourselves and sort out which numbers really matter and which ones merely perpetuate the fear that's gripped the financial and real estate markets for months. First: Denver actually scores remarkably well on the index of overall housing-related distress. In 2008, area foreclosures declined almost 12 percent from 2007, the first year-over-year decrease in more than a decade. Second: Our home prices "only" declined by 5.1 percent from January 2008 to early 2009—compared to the national average of 19 percent—a relatively slight dip that made Denver one of the nation's top housing markets in 2008.
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Labels: Denver, Denver mls, Denver real estate, Denver Real Estate News
