I know there's a lot of posters on here that live in greenie land - any input would be helpful.
I'm looking to buy a single unit investment property (either a condo or small house) in the vicinity of the UCB medical campus out there in Aurora. Is Green Valley Ranch a decent area?
I've been hearing wild stories about property values doubling (or better) in the last 5 years. Any truth to this? Do any of you Colorado Pokes foresee property values continue to skyrocket?
Colorado real estate
- LanderPoke
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I've personally seen my property roughly double in price since the end of the great recession, but I'm wondering if the boom is actually going to continue or if we're headed toward stagnation as there's suddenly so incredibly much new construction (that might just be in my area, though).
As far as Green Valley Ranch goes, east of Denver is typically not where people want to be, but a lot of people get priced out there as the other side is far more expensive (yes, there are exceptions).
Tech has been driving a lot of the boom, and a lot of that is located either downtown, down in the tech center (Greenwood Village/Centennial area), or up around Westminster as well as Boulder. I imagine the closer you get to those areas, the safer your investment is, as tech will likely survive most downturns on a longer time scale.
As far as Green Valley Ranch goes, east of Denver is typically not where people want to be, but a lot of people get priced out there as the other side is far more expensive (yes, there are exceptions).
Tech has been driving a lot of the boom, and a lot of that is located either downtown, down in the tech center (Greenwood Village/Centennial area), or up around Westminster as well as Boulder. I imagine the closer you get to those areas, the safer your investment is, as tech will likely survive most downturns on a longer time scale.
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Property value in Colorado is on the rise largely in part to legalization of Marijuana.Asmodeanreborn wrote:I've personally seen my property roughly double in price since the end of the great recession, but I'm wondering if the boom is actually going to continue or if we're headed toward stagnation as there's suddenly so incredibly much new construction (that might just be in my area, though).
As far as Green Valley Ranch goes, east of Denver is typically not where people want to be, but a lot of people get priced out there as the other side is far more expensive (yes, there are exceptions).
Tech has been driving a lot of the boom, and a lot of that is located either downtown, down in the tech center (Greenwood Village/Centennial area), or up around Westminster as well as Boulder. I imagine the closer you get to those areas, the safer your investment is, as tech will likely survive most downturns on a longer time scale.
Federal law prohibits banks and credit unions from taking marijuana money so as time passes on owners need a way to protect the income from dispensaries. Over the past 3 years as owners continued to get caught attempting to use bank accounts for dispensary income and they were seized they have now started buying up property which is why you see such a rise in Colorado recently as the property demand has become higher than the supply.
Obviously growth is part of the reason as well it's not just one thing or the other but the legalization definitely sent it all in motion.
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- A Real Cowboy
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Complete nonsense. Pot is a tiny industry in Colorado and property values have been going up long before pot was legalized. Fracking is the the big growth industry in Colorado. There are fracking wells everywhere in Northern Colorado, including boulder county. My house in Fort Collins doubled in value before recreational pot was legalized. Beer brewers like New Belgium have also seen over whelming growth. The universities and the hospital industry have been the big employers as well. People are coming here to retire and it has put a huge strain on the health system to provide care to seniors.Wyo2dal wrote: ↑Mon Feb 13, 2017 4:49 pmProperty value in Colorado is on the rise largely in part to legalization of Marijuana.Asmodeanreborn wrote:I've personally seen my property roughly double in price since the end of the great recession, but I'm wondering if the boom is actually going to continue or if we're headed toward stagnation as there's suddenly so incredibly much new construction (that might just be in my area, though).
As far as Green Valley Ranch goes, east of Denver is typically not where people want to be, but a lot of people get priced out there as the other side is far more expensive (yes, there are exceptions).
Tech has been driving a lot of the boom, and a lot of that is located either downtown, down in the tech center (Greenwood Village/Centennial area), or up around Westminster as well as Boulder. I imagine the closer you get to those areas, the safer your investment is, as tech will likely survive most downturns on a longer time scale.
Federal law prohibits banks and credit unions from taking marijuana money so as time passes on owners need a way to protect the income from dispensaries. Over the past 3 years as owners continued to get caught attempting to use bank accounts for dispensary income and they were seized they have now started buying up property which is why you see such a rise in Colorado recently as the property demand has become higher than the supply.
Obviously growth is part of the reason as well it's not just one thing or the other but the legalization definitely sent it all in motion.
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Banks and credit unions are taking pot money. Obama gave a wink and a nod that the feds would not prosecute banks that took pot money.
Having said all that, I'm guessing were nearing a top in property values. I recently sold my industrial steel building/shop for 4x what I paid for it. Buyers are willing to pay more for existing properties to avoid all the new costly red tape and fees to build.
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Tiny? How much of that are you smoking? Cannabis sales in 10 months during 2016 were over a billion dollars. In what world do you live is that considered tiny?bladerunnr wrote:Complete nonsense. Pot is a tiny industry in Colorado and property values have been going up long before pot was legalized. Fracking is the the big growth industry in Colorado. There are fracking wells everywhere in Northern Colorado, including boulder county. My house in Fort Collins doubled in value before recreational pot was legalized. Beer brewers like New Belgium have also seen over whelming growth. The universities and the hospital industry have been the big employers as well. People are coming here to retire and it has put a huge strain on the health system to provide care to seniors.Wyo2dal wrote: ↑Mon Feb 13, 2017 4:49 pmProperty value in Colorado is on the rise largely in part to legalization of Marijuana.Asmodeanreborn wrote:I've personally seen my property roughly double in price since the end of the great recession, but I'm wondering if the boom is actually going to continue or if we're headed toward stagnation as there's suddenly so incredibly much new construction (that might just be in my area, though).
As far as Green Valley Ranch goes, east of Denver is typically not where people want to be, but a lot of people get priced out there as the other side is far more expensive (yes, there are exceptions).
Tech has been driving a lot of the boom, and a lot of that is located either downtown, down in the tech center (Greenwood Village/Centennial area), or up around Westminster as well as Boulder. I imagine the closer you get to those areas, the safer your investment is, as tech will likely survive most downturns on a longer time scale.
Federal law prohibits banks and credit unions from taking marijuana money so as time passes on owners need a way to protect the income from dispensaries. Over the past 3 years as owners continued to get caught attempting to use bank accounts for dispensary income and they were seized they have now started buying up property which is why you see such a rise in Colorado recently as the property demand has become higher than the supply.
Obviously growth is part of the reason as well it's not just one thing or the other but the legalization definitely sent it all in motion.
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Banks and credit unions are taking pot money. Obama gave a wink and a nod that the feds would not prosecute banks that took pot money.
Having said all that, I'm guessing were nearing a top in property values. I recently sold my industrial steel building/shop for 4x what I paid for it. Buyers are willing to pay more for existing properties to avoid all the new costly red tape and fees to build.
Where do you think a billion dollars goes when banks won't take it.
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The Billion dollars of the pot industry is pretty tiny compared to the $20 Billion payroll of tech companies in Colorado... that's payroll, not revenue. Average pay for the 200,000 tech workers in Colorado is just north of six figures - that means they can buy decent houses.
Does legalized marijuana have an impact? Sure... but state after state keeps legalizing, so I wouldn't bank on it being a major player in the future.
Does legalized marijuana have an impact? Sure... but state after state keeps legalizing, so I wouldn't bank on it being a major player in the future.
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Any decent areas close to the Anschultz campus I should look. Or is the entire Aurora area a crap hole?
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Those industries can all use a bank or credit union. I'm talking about a billion dollar industry that can't put that money anywhere.Asmodeanreborn wrote:The Billion dollars of the pot industry is pretty tiny compared to the $20 Billion payroll of tech companies in Colorado... that's payroll, not revenue. Average pay for the 200,000 tech workers in Colorado is just north of six figures - that means they can buy decent houses.
Does legalized marijuana have an impact? Sure... but state after state keeps legalizing, so I wouldn't bank on it being a major player in the future.
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Yeah, I'm just pointing out that 10% of Colorado's work force makes very solid money and wants to live somewhere - and can afford to pay.Wyo2dal wrote: ↑Tue Feb 14, 2017 4:20 pmThose industries can all use a bank or credit union. I'm talking about a billion dollar industry that can't put that money anywhere.Asmodeanreborn wrote:The Billion dollars of the pot industry is pretty tiny compared to the $20 Billion payroll of tech companies in Colorado... that's payroll, not revenue. Average pay for the 200,000 tech workers in Colorado is just north of six figures - that means they can buy decent houses.
Does legalized marijuana have an impact? Sure... but state after state keeps legalizing, so I wouldn't bank on it being a major player in the future.
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Even if 50% of those pot sales were profits, that's not very many houses that can be bought every year when the average house even here in Longmont goes for $400,000+. 1,200 or so average homes is a lot, but on a state-wide scale it's not extreme.
![Smile :)](./images/smilies/icon_e_smile.gif)
Obviously I'm not claiming every tech worker buys a house every year either.
![Wink ;)](./images/smilies/icon_e_wink.gif)
I just don't think the pot industry has _that_ big of an impact on the housing market here.
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I would maybe check out the Stapleton area. Those are newer homes, but I don't think you will get the best ROI there as prices started high and while it is a hip neighborhood now, I dunno how long that lasts. May be worth a look.LanderPoke wrote: ↑Tue Feb 14, 2017 9:13 am Any decent areas close to the Anschultz campus I should look. Or is the entire Aurora area a crap hole?
Also I will second while pot is a contributor, that isn't what brought in all the Texans. Oil and mountains. If you worked for one of the energy companies would you rather be in their Texas/Oklahoma corporate hq or the Denver regional hq? Oil, mountains, and real estate reasonable compared to CA, that is why Denver is thriving (not necessarily in that order).
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Plus Oklahoma's education is a complete joke!!!!! Teachers here only make about the same amount per year as managers of the local 7-11s. I aint making that up!!!!!!Expat_Poke wrote: ↑Thu Feb 23, 2017 1:50 pmI would maybe check out the Stapleton area. Those are newer homes, but I don't think you will get the best ROI there as prices started high and while it is a hip neighborhood now, I dunno how long that lasts. May be worth a look.LanderPoke wrote: ↑Tue Feb 14, 2017 9:13 am Any decent areas close to the Anschultz campus I should look. Or is the entire Aurora area a crap hole?
Also I will second while pot is a contributor, that isn't what brought in all the Texans. Oil and mountains. If you worked for one of the energy companies would you rather be in their Texas/Oklahoma corporate hq or the Denver regional hq? Oil, mountains, and real estate reasonable compared to CA, that is why Denver is thriving (not necessarily in that order).
I want CHAMPIONSHIPS not chicken poop! And we're getting chicken poop!!!!!!!!!!!
I second Stapleton. Easy drive to Anschultz. But it is getting pretty expensive. I sold my house there a few years back that I bought foreclosed after college and made a pretty good profit. Lots of new restaurants opening around there. I miss the area but have way more room now a little further Northwest.Expat_Poke wrote: ↑Thu Feb 23, 2017 1:50 pmI would maybe check out the Stapleton area. Those are newer homes, but I don't think you will get the best ROI there as prices started high and while it is a hip neighborhood now, I dunno how long that lasts. May be worth a look.LanderPoke wrote: ↑Tue Feb 14, 2017 9:13 am Any decent areas close to the Anschultz campus I should look. Or is the entire Aurora area a crap hole?