OT: Seeking MGoHelp with Possible Relocation to Denver
A few years ago the board was extremely helpful when I was moving to CA (several members suggested my wife and I move to Claremont; we did and loved our time there). So I thought reaching out again might pay dividends.
Now we're considering moving to Denver. I'd most likely be working South of the city near the DTC. So I have some specific questions for the board:
-I'm nervous about the potential housing bubble that's forming in the Denver area. I would prefer to buy soon, but obviously don't want to do that if a market crash is on the horizon. I know there are a lot of board members that are much smarter than me about real estate, so any advice in this area would be appreciated.
-Second question is simply where to look into living if I were to work in that area. After my interview I checked out Parker, Highlands Ranch, Englewood and a few other areas...Parker seemed promising, Englewood not so much. I'm possibly starting a family soon so I wouldn't mind being a bit further outside of the city if I can get more for my money.
-Any other things I should know before moving? Is Denver the "next Amazon city" like half the other cities in the US?
Thanks in advance.
Denver housing is expensive --- but it's still notably cheaper than California.
I think the market remains hot until we get closer to "price parity" with California. SO many California-folk are moving to Denver. You won't be alone in that regard.
Part of it might depend on when you are thinking of starting a family. For a couple with no kids, I'd say live closer to downtown. Wash Park (Washington Park), South Broadway (South of downtown) are a couple of really nice areas in Denver where your commute to DTC wouldn't be too bad.
If you're moving from CA housing prices shouldn't shock you. Denver housing has exploded in the last decade or so. Not sure what you mean by 'Amazon City' but we've lived here for 17 years and Denver has changed a ton over that time.
I was only half-serious but Amazon is looking for a new city to house their second headquarters. I think the housing market is going to change significantly in whichever city is chosen. I’m just looking for any “insider info” that anyone might have.
Don't think Amazon is coming to Denver. Other cities offering bigger incentives to them. Amazon does have a couple of huge fulfillment centers here, but don't believe their 2nd HQ is coming.
WW, it's like I told you on the day of your wedding. Just take good care of your wife.
It's better than Boston, so you got that going for you over the other guy.
If you like Parker, you might consider the Castle Rock area south of the DTC area down I-25.
I agree - would rather do Castle Rock than Parker / Highlands For quality of life - especially golf and hiking opportunities. Schools are good too.
*Highlands Ranch*
I'm assuming you have a decent budget coming from CA, I'd go Castle Pines over Castle Rock. South Parker has a little more space and a few golf courses. Highlands ranch is ok but very crowded now. Parker is on that same path. I feel better that a bubble is far away due to the economy and a steady influx of people. I don't see people suddenly deciding Colorado isn't a great place to live.
It really depends on what you want. Parker and Castle Pines are very family oriented and may be too boring. Personally, id trade the bar scene for an acre of natural pines and mountain views.
I have friends who live in Was Park. Great walking neighborhood. Real community feel, neighbors know each other.
However, I would live in Boulder and commute. Love it there and my daughter and best man live there.
OP, I assume you know this but this idea is certifiable. Not only can you not find a house in Boulder for less than $1M, but the commute to Denver is not great, and the commute to the DTC would ruin your life.
Assuming he has to commute, living in Boulder and working in DTC sounds like a nightmare. I would guess that that's around 2 hrs during rush hour
A daily commute from Boulder to DTC and back would get old very quickly. I cannot co-sign.
Long time Denver Wolverine here that lives on Southside of Denver. If you are going to be in the DTC, do not hesitate to look at Centennial and Littleton if you are planning a family. Good schools and other family friendly features in a more established community than Parker. Happy to connect separately via email. House prices will likely slow down in growth but not likely to pull back. Issue is that people do not leave so inventory is low. Good luck.
Supposedly there's a private DM contact form available on the new site, though I don't remember all the details.
Out of the areas your looking to purchase I would recommend Parker and probably the north side of the town. The Denver area definitely has high home prices now and you can still get a reasonable deal in the Parker area. I suggest the north side as you would be closer to 470 and more activities to enjoy. Parker is also a great place to raise a family.
Don't underestimate commute time. Colorado has under invested in infrastructure and has doubled in population in the last 20 years, so traffic is bad and getting worse.
If you are outdoorsy, consider looking into places in the foothills, Evergreen, Genesse, etc. Not sure what is south of Denver, but just look west.
Boulder is great, that is where we live. Much like Ann Arbor-Boulder has much better fine dining and weather, much worse football and delis. It is very expensive compared to the rest of Colorado (prices went up 20% this year!) and the commute would be terrible to DTC.
Others have suggested Wash Park and that can be a great place. There are many gentrifying older neighborhoods that are "on the upswing". These can be good for new families too.
The Stapleton area is new and there are *a ton* of new families there. Some people love it, some people think it is the worst thing in the world.
In general, this is a great place to live. Great weather (even when it snows, it is pretty and melts fast, 300 days of sun per year), people are generally very friendly, there are a ton of outdoor opportunities, low taxes (you won't believe how your fixed costs will go down here compared to California, that alone will finance good real estate).
I wouldn't worry too much about a bubble here, we came through 2008 very well-people didn't seem to do as much crazy stuff with mortgages as did Florida, Nevada, California so there wasn't the huge pop at the end of the bubble either. You might have been underwater for a year, but now you are way ahead again. People from the midwest and California are still moving here so long term demand is pretty good.
Great sports state, have all the Big 4, Broncos are a quality pro organization. People are fans and are generally supportive-I have <gasp> Notre Dame friends, Nebraska friends (No $uckeyes still).
Good luck, if you do move here, I think you will be very happy.
Regarding the bubble... Colorado, especially the Front Range (CO Springs to Ft. Collins) has seen double-digit appreciation for the past six years. The fundamental driver is demand - people move to Colorado more quickly than new housing is created. As long as there are good jobs and quality of life, people will keep moving to CO and housing values will hold. I don't know anyone who can say with authority whether that is a good assumption or not...
In contrast, the market in the mountains (specifically Steamboat) is red hot right now for different reasons. There are some remote workers buying homes, but most of the demand is driven by investors and second home buyers who plan to vacation here and Airbnb / VRBO the rest of the time. I would be much more cautious buying a home in the mountains for that reason. We've already seen downward price pressure on Airbnb nightly prices compared to 2 years ago as more and more properties hit the platform...
All that said... we've just decided to sell a property west of downtown Denver because the prices this spring are ridiculous. We might not hit the top, but I'm ok with that. I read as much as I can about the markets but my hunch is no better than anyone else's.
My family and I have lived here since late-2004. Much has changed, both for better and worse. We have always lived on the north-side of Denver (Westminster, Thornton and Broomfield), which fortunately has had more reasonably-priced real estate than the south-side. The south is more established and built up, but the north is catching up. Metro Denver is a brilliant place to live and start a family. The weather is almost perfect. The access to the outdoors is unlimited -- with both luxury and budget options. It's a nice mix of urban, suburban and rural.
It's common knowledge that the DTC area is a massive cluster for commuting. The population boom of the past 15 years has made most commutes at least a little rough. The DTC is one of the worst, though. If you have other employment options outside of the DTC, I'd explore them. I know ... this isn't helpful advice. Other posters probably have better advice for where to live than me, considering I have never lived south of Colfax. If you can live north, respond to this post, and I'll happily give a full breakdown of Broomfield, Westminster, Lafayette, Louisville, Superior, Erie, Thornton, etc. Boulder the County is a much a better option than the actual city of Boulder, where prices are silly and the university dominates.
I don't think a housing bubble is imminent. Too much demand, too little inventory. Unless a home is falling apart, prepare yourself for a bidding war.
If I was starting from scratch, and I didn't have kids, I'd bite the bullet and buy a 2-3 bedroom condo somewhere (trendy) in Denver. Once the kids were getting ready for Pre-K, I'd turn the condo into an investment/rental property, and move to some of the more suburban places people are suggesting.
Good luck!
Absolutely live real close to where you work... or the commute will be insane.
I live in Highlands Ranch, and it's a very convenient place to live if you have a family. But if I didn't have kids, I would probably want to be somewhere closer to downtown. It's hard to recommend areas if we don't know what you're looking for. You mentioned that Parker was promising, which makes me assume that you favor space and value over someplace like Wash Park. Can you provide a bit more info on your wants or needs and maybe a ballpark budget?
I moved to Denver about a year ago and just bought a home. The suburbs you mentioned could be good options, but I don't know anything about them. Generally if you're not getting on a highway, there is minimal traffic, and if you are, there is lots. There are a bunch of neighborhoods in southern Denver that could avoid getting on I-25 to DTC. Washington Park was mentioned and is real nice but also really expensive. As you go south from there and closer to the DTC, there are many other nice neighborhoods that would be significantly less expensive. Some to consider are Platt Park, Harvard Gulch, and around the University of Denver. You may have a job now at the DTC, but if you aren't certain about how long you'll stay there, you may want to be more accessible to downtown, and being in those neighborhoods would be a good in between. Regardless I'd recommend finding a good realtor and take a day to have them drive you around to all the neighborhoods so you can get a sense of your options.
Logged in just to offer my .02. Not one bit of bad advice given in the responses (Well, maybe the poster that suggested commuting from Boulder LOL).
One poster mentioned Centennial/Littleton. I leave on the far east end of Centennial and really like the area. Highlands Ranch, Castle Rock and Parker are nice as well. I will say, when Denver metro went through the last housing “crisis” Highlands Ranch was one of the areas south that wasn’t hit as hard and recovered really fast.
Good luck.
Wow, my old house in what is now Centennial is worth around 420k. Sold it for 188 in 96. East Arapahoe Rd to 80015 was and probably still is a nice area. Would move back in a minute!
My brother moved there over 15 years ago. I forget the name of the subdivision but it's close to a nice public golf course and it's only about 15 minutes from downtown. Denver is a growing city. I live in NorCal and I love Denver. It is definitely more affordable than Cali. The weather is pretty mild. There's a lot of great restaurants and a Red Wings bar downtown.
Good luck. I don't think you can go wrong.
I live in Centennial on the east side Cherry Creek State Park. Cherry Creek school district is great which is why we choose our location. Parker, Highlands Ranch and Castle Rock are all nice areas as well. I lived in Castle Rock in the 1980's when it was a tiny town. Property taxes are higher in Douglas County so if that is a concern be mindful of that.
Good luck in your endeavor.