There is a high demand for Denver Real Estate. As you may have seen the headlines or heard the recent news the large oil and gas company BP, based out of Houston is moving its Lower 48 regional headquarters to Denver. They are bringing about 200 employees and this means they will be needing a place to live!
There are positives and negatives regarding their move here to Denver. Let us run through the negatives real quick. We will be adding to our population, which we will see increased traffic and drive times. Now, Denver real estate is already in high demand, so this is only going to continue. Which will likely cause rents to continue to rise, along with home prices. This will make for a continuation of a very competitive real estate market and all that comes with it, for example, multiple purchase offers and possibly overbidding.
Now, on the positive, this will create revenue for our state as well as an increase in our real estate market. For those of you who are homeowners, you will continue to see an increase in your property value. If you have rentals, you will have an increased demand for your properties with the possibility of increasing rents. This creates the ample opportunity in selling your property. With the increased values and the high demand for more inventory, it will continue to be a seller’s market. If you have been on the fence about selling your home, it may be a good time to visit the possibilities.
As my parents used to say “when one door closes a new one opens” and “always think of the glass half full rather than half empty”! Let’s embrace this growth and the opportunities this addition will bring to Denver!
If you would like to get pre-approved and/or discuss options, please contact us!