Can't find a house in the Highlands? Where you should look instead

Can't find a house in the Highlands? It's becoming a very common problem unfortunately. Houses under $400,000 in the general Highlands area are swarmed upon by buyers the second they hit the market and unless you are willing to go way above asking price, typically $20,000 or more, and guarantee you will make up the difference between the appraised value and the purchase price, you really don't stand a chance. I'm not trying to scare anyone off, just telling the truth so you know what to expect. If you aren't able to compete with those factors, you have a couple options.

First, you can increase your purchase price. I wrote a blog about this a few weeks ago, click here. It is much, much less competitive above $400,000 and we are even seeing price reductions in some of the higher priced homes above $500,000. You can often get a ton more house for your money by spending $50,000 more to get above the $400K mark.

Second, you will have to look in different neighborhoods. Last year, the first place we would look is Wheat Ridge and Regis/North Sunnyside. Unfortunately, Wheat Ridge and Regis/North Sunnyside have exploded as well and unless you are willing to play the same way over asking price and appraisal guarantee, you don't stand much of a chance in these neighborhoods either.

So what does that leave? I've encouraged a lot of buyers to look in Arvada and Lakewood lately. I know, those are typically considered the burbs but these burbs have a lot going for them. Olde Town Arvada is booming and if you haven't been by lately, I highly encourage a visit. The light rails station to Downtown will open next year and popular restaurants like Stueben's will be opening soon making it another hot spot in Denver.

There are bunch of neighborhoods around Olde Town Arvada that have an urban feel to them, lots of 50's ranches and even a few bungalows. Price per square foot is much lower, the yards are bigger and investors are flipping houses with a cool, modern flair as fast as they can get them. It is definitely worth a look and has huge growth potential in the near future.

Like Arvada, Lakewood has a lot of potential as well because of it's proximity to light rail and city centers like Belmar. It's a quick drive to Golden, Morrison and the mountains making it an easy commute for those who moved to Denver to live by the mountains. And with Green Mountain in the backyard, what's not to love.

If you would like to see some examples of neighborhoods in Arvada and Lakewood I recommend, definitely let me know. There is a pretty good variety of types of homes so lots to choose fromm and as of right now, not the craziness you see in the Highlands. Below are some homes I found to show what your options might be going a little further west.