Investment properties are few and far between in the Denver Metro area, and with available housing inventory so low, homebuyers and developers alike are scrambling to find homes to purchase, whether they are looking to live in them or renovate and sell. It's almost impossible to find fix-up properties in super popular neighborhoods like West Highlands, LoHi, and even Wheatridge, Edgewater and Arvada.
Which is actually great news for areas that have been a bit slower to cover from the recession, including South Westminster. There was a great article in the Denver Post this past weekend that highlighted the progress of the city's recovery and emerging property boom....here is an excerpt:
WESTMINSTER It's been a slow process and is far from done, but results are emerging 18 years after city leaders embarked on a mission to revive South Westminster.
More than $275 million in private and public funding spent the past 15 yearsis drawing a new wave of developers and interest to the area.
The decline began decades ago. While other parts of Westminster saw robust population and economic growth, the city's southside languished.
Money has been bleeding out of the area for years, and wide swaths of neighborhoods suffer from blight, poverty cycles and a dearth of quality restaurants and other cultural attractions.
That's quickly changing, said Tony Chacon, the revitalization projects coordinator for south Westminster.
"What you're seeing here today has taken 18 years to get to, and I'd say we're not even 50 percent of the way there," Chacon said. "I'd say in five or six years you're going to see a huge burst of activity in this particular neighborhood."
A burgeoning arts district has formed in Westminster's historic downtown area, attracting a host of small businesses and energy in the neighborhood.
Read the rest of the article here.
One of the really great things that Westminster has going for it is the wide variety of architecture. South Westminster is home to hundreds of solid brick ranch-style homes, which offer a timeless layout and usability for families of all sizes.
With the popularity of mid-century architecture seeing a huge return in the Denver Metro area, those that can't afford to buy a completely remodeled mid-mod in areas like Krisana Park or Applewood are realizing the potential to create similar styling and vibe in the more traditional brick ranch homes, by opening up layouts, removing walls, and adding large windows, as well as altering the facades.
LIVE Urban agent Sandi Klatt listed a nicely-priced home in South Westminster this morning...it needs updating and other work, but it's certainly priced to sell! Let Sandi know if you would like more information or a private showing for this fixer-upper, located at 8174 Vallejo Street.
It has 3 bedrooms, 2 bathrooms and is 2000 Square feet. Priced at $149, 950.
Interested in searching for a home in Westminster? Start here, or contact a LIVE Urban agent who can help you find the perfect place to LIVE or invest.
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