![]() ![]() Some are worried prices might begin to fall too quickly, especially in western cities where home values ramped up during COVID, which would be bad for people who bought in when the market was sizzling. Sly said rising home prices and residential investment will likely slow down in Denver, in part due to higher interest rates his organization has pushed to stem inflation. Redfin, Zillow, Opendoor and Orchard – four iBuyer companies that facilitate online sales – earned a combined $2.7 million through 98 properties. United Colorado, a local branch of the “sell your house for cash” company HomeGo, brought in $8.8 million over 170 properties they bought and sold quickly in the last year and a half. “I’m just worried for people who are really out there trying to buy something and can’t afford it.” These upgrades have put cash in a lot of of speculators’ pockets.īuyers who profited off quick sales were mostly companies and equity firms, none of whom spoke to us when we called them. “I’ve been here before all of them, so no,” she said. Likewise, Roxanne Solano, who lives next to a recently flipped home a half mile south, said she’s not worried she’ll somehow become an outsider in a neighborhood where she’s lived for thirty years. They’ve talked about how depressed the block became after the 2008 financial crash. The guy who lives next door, she told us, has owned his house for a long time, has no plans to move and doesn’t mind seeing some investment. But Morasso said her neighbors aren’t so unsettled. Rising home costs and displacement in places like Highland and Berkeley have been major issues for a long while in Denver, and neighborhood advocates in Westwood have concerns it might happen there. It's neighbor, on the left, looks like it has for years. The home on the right got some recent upgrades to its exterior. ![]()
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