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Buying A Home in Denver and Cherry Creek Colorado
Living in Denver comes with many perks. With nearly 300 days of sunshine each year and a host of different activities available for all, Denver is the perfect place for a new family to settle into or young professionals who are just getting started in their careers.
Denver is known for its stunning architecture, popping food scene, majestic views, and much more. The city is also home to a diverse number of neighborhoods that have their own feel and vary in price. One of the most exciting neighborhoods to live in Denver is Cherry Creek, and this neighborhood is an exclusive area to live in Denver.
Cherry Creek is known for its public schools, diverse set of amenities for residents, and easy access to other parts of the Denver metro area, which makes it one of the most desirable neighborhoods in Denver.
Residents enjoy two major commercial centers and several parks with bike paths in Cherry Creek. In this neighborhood, there is no shortage of activities for people of all ages to participate in. You can take a stroll through town and check out one of the several different art galleries or let the kids loose at the park inside the Cherry Creek Shopping Center.
We mentioned the Denver food scene before, and we’ll mention it again. Cherry Creek is the best place to enjoy a gourmet meal with many different dining options including burger joints, traditional American fare, and barbeque.
Living in Cherry Creek has plenty of upsides, however, the sky-high real estate prices may cause some to balk. Of the 6,550 residents in Cherry Creek, the average home value sits at right around $663,500 and the rent prices are not much better, as Cherry Creek is also one of the most expensive zip codes for renters in Denver.
Best Neighborhoods in Denver Colorado
Denver is a city that has seen a rapid increase in population over the last decade for many good reasons. Denver is in the top twenty most populated cities in the United States, and citizens are relocating to Denver for its culture, food scene, and outdoor activities.
The real estate market is heating up in Denver this summer, and among the best neighborhoods you can buy is Washington Park. Those in Washington Park enjoy a break from the downtown scene and find that the lush landscaping creates a feeling of calmness and tranquility that many other Denver neighborhoods don’t provide.
Known by locals simply as “Wash Park,” the neighborhood has a median home value of $724,900 and an average rent of $2,757, making it one of the most expensive neighborhoods in Denver.
Residents of Wash Park have no shortage of things to do. The food scene is primarily contained on South Gaylord Street, where there are notable bakeries and Mexican food restaurants that locals flock to.
Outside of the eclectic eateries of Wash Park, you can also spend time breaking a sweat in the green space where you can run on the 2.6-mile path or play a friendly game of tennis or basketball in the nice weather.
The real estate in Wash Park is pricey. In 2021, the average sale price of homes in this neighborhood exceeded $1.2 million, and there were 335 new listings on the market throughout the calendar year.
More recently in 2022, home prices have climbed up over 34% since last year, indicating that the housing market is showing no signs of slowing down anytime soon.
Whether you’re looking to buy or rent in Washington Park, you should expect to pay top-dollar to be a resident of this affluent neighborhood. With excellent public schools and plenty of activities to keep you and your family occupied, Wash Park is a great place to reside for people of all ages.
How Colorado Homefront Can Help with a Short Sale or Foreclosure Situation
Going through the short sale or foreclosure process can be very difficult for many people who have never experienced it before. It can also be challenging to navigate if you try to handle the entire process yourself.
Colorado Home Front has helped with over 300 foreclosure and short sale transactions in the Denver Metro area for the last 20 years, and we work directly with homeowners to help them navigate the foreclosure and short sale process from start to finish.
Working with Colorado Home Front is essential to make sure the process is handled correctly and efficiently if you find yourself in this situation.
How the Short Sale Process Works
The first step in the short sale process is for the borrower to let the lender know why they cannot pay the mortgage, along with several supporting documents like pay stubs and tax returns. Then the home is listed as a short sale in the sales listings, and all offers are sent to the lender and the seller to decide.
A broker price option (BPO) is then generated to determine a fair price to sell the home, but it’s essential to know that short sales are almost always listed for under market value. Once approved, the bank will issue a short sale letter informing all parties that the short sale will move forward.
As with any home sale, you’ll still need to find a buyer for your short sale listing. Luckily, short sales are listed under market value, so finding a buyer should be relatively easy.
The Bottom Line
The short sale process can be lengthy, and you should expect to spend up to 30 days for the bank to receive the initial short sale letter, then you may wait for another 2 to 8 weeks for final approval from the bank. Add this on top of the time it takes to find a buyer, and the short sale process may take several months from start to finish.
Contact Colorado Homefront to assist you with this process. We specialize in the Short Sale Process and helping Homeowners during this stressful process. Contact us to receive information about the process and how to get started.
Why Castle Rock Colorado is a Great Place to Live and Buy a Home
Castle Rock, Colorado is known for the prominent castle-shaped rock near the center of town, but did you know that the neighborhoods of Castle Rock are some of the most desirable areas to buy real estate in the United States? Being part of the Denver Metro Area, Castle Rock and its neighborhoods are a prime location for great public schools, outdoor activities, and real estate opportunities.
In particular, the Castle Pines neighborhood draws in new residents and visitors for many reasons. The Village Square area off Happy Canyon Road is perfect for finding eclectic eateries ranging from pizza shops, Mexican food, casual brunch spots, and more.
Castle Pines is also a great place to settle for those that enjoy the outdoors and beautiful weather. Outdoor enthusiasts can bike, walk, run, or enjoy many recreational activities, like tennis courts, baseball fields, and skateboard parks.
Residents living in Castle Pines and their children belong to the Douglas County School District. High school students attend Rock Canyon High School, while middle school students attend Rocky Heights Middle School. These schools are highly rated and regularly score above average in test scores among other Colorado schools.
Castle Pines is one of the most desirable neighborhoods of Castle Rock and therefore commands high price points in the real estate market. However, now is a great time to buy real estate in Castle Pines since the neighborhood is growing in population and provides many opportunities for careers in education, health care, and sciences.
Why Buy In Castle Pines?
In recent years, Castle Pines has seen tremendous growth in its real estate market. Its prime location between Denver and Colorado Springs makes Castle Pines ideal for commuters or young and growing families.
The natural beauty of Colorado is what draws people in and makes them stay. Be sure to visit our website to find out why Colorado HomeFront is the best option to buy and sell your home and save money in the process.