People are taking notice of Denver's success
The Denver housing market has received a lot of attention lately due to numerous reports demonstrating real estate in the Mile High City is rebounding as the city's economy bounces back. People looking to invest in real estate in Denver can find that they've picked a good time to do so.
A recent article in the Huffington Post detailed that the City of Denver, Enterprise Community Partners, the Urban Land Conservancy and a number of other acting partners created the Denver TOD Fund in 2010 in an effort to connect affordable housing, transportation and employment for Denver. In the two years since its creation, more than 400 affordable homes have been created or preserved across the city, with a goal of 1,000 homes in a 10-year period.
The Huffington Post reported that the fund also acts as a driving force for community services, contributing to the construction of a new library as well as "childcare facilities, nonprofit and commercial spaces, all within walking distance of existing or planned high-frequency public transportation."
The source additionally indicated that with the preparation of the new rail lines that are set to open in succession in 2013, 2015 and 2016, other organizations are joining the cause. The aim is to expand the Denver TOD Fund model to other cities across the region.
Not only has affordable housing in Denver made considerable strides in recent years, but the overall housing market is booming as well. With marked construction surges for new homes, the economy is demonstrating positive growth.
In a recent article from local NBC affiliate KUSA, banker Bruce Alexander noted that while he is not a real estate agent, it is certainly a good time to buy in Denver. He also remarked that when the real estate market is thriving, it's "a win-win for everyone."
"What happens is you see more construction workers going back to work, you see architects and landscape architects. As the economy picks up on the real estate side, all of these jobs start to pick up which helps everyone throughout the entire economy," Alexander said.
An excellent indicator of real estate improvement and economic recovery is the amount of negative equity. A recent article in the Denver Post cited a CoreLogic report which indicated that in the second quarter of 2012, the Denver-Aurora-Broomfield market showed a negative equity rate of 19 percent, 4 percent less than in quarter one.