CBS4 did a follow up report in late November 2012 on Denver’s Green Valley Ranch neighborhood. Their findings were in marked contrast to the dismal news from the neighborhood in 2008, at the height of the recession. At that time, the Green Valley Ranch neighborhood was frequently cited as having one of the highest foreclosure rates in the country. One homeowner identified no less than six properties in his immediate area that were in foreclosure at the time.
Since then, significant improvements in area infrastructure have helped, including new schools and parks. Home sales have literally tripled in the four years hence.
One couple was notified by their bank at one point that they were $50,000 underwater. They had purchased their Green Valley Ranch area home only two years prior. They decided to stick it out, in part for the sake of their children. Now, with home values rebounding, they are watching their position steadily improve. Multiply this couple’s experience many times over in Green Valley Ranch and across metro Denver real estate, and the experience of a stabilizing market is now more widespread than ever. The CBS4 report specifically mentioned Highlands Ranch, Arvada, Broomfield, and Commerce City as areas where similar rebounds are underway.
In fact, the Denver Business Journal cites nine straight months of upwardly trending residential real estate values. Buyers wanting to move to Denver are strengthening the market relative to those in many other metropolitan areas. They are attracted to the strengths that Denver has historically offered, buttressed further by expanding employment opportunities and record-setting low mortgage interest rates.
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