DIYbanter - View Single Post - Putting and Offer on Townhome in Booming Area

Chris Hill

On 5 Jan 2007 11:42:45 -0800, wrote:

Hello,

I have been looking around to buy a place in the Highlands area
(Denver, CO) for the past few months. I plan to put an offer down on a
place in the next day or two but had a question for the experts. There
is so much new residential construction going on in the area. I'm not
sure what to make of it. I've been looking in the townhome market and
there are quite a few planned townhomes going in and hundreds of condo
units going up. On one hand, I see the surrounding property value
increasing but on the other, I'm concerned about resale 2-5 years from

Ding ding ding!! If two years is even a concern, you need to rent,
not buy. The rapid increases in property value appear to be over for
a while, and if you aren't planning to be there at least five years,
you're likely to get your lunch eaten.