Denver’s last neighborhood ‘up for grabs’

DENVER -- You could probably sum up Denver's real estate market in just a couple of words.

"It's absolutely busy," said Zac Nelson, a Coldwell Banker residential broker.

Cranes tower over the city like prehistoric skeletons in what seems to be a constant state of construction.

Denver is growing like a weed.

"When you look at the net migration into Colorado, it's been about 100,000 we've added to the population each year for the last three years. Most of those people are coming to Denver," Nelson said.

Lower downtown, for example, used to be, well, dumpy.  Now, it's LoDo.  Good luck buying there.

Some say there is only one neighborhood left in Denver that has yet to be transformed and could be ripe for the picking: Globeville.

"There are a lot of developers that want to come in here because the land has been cheaper, is cheaper, than most every neighborhood in Denver," Nelson said.

But home appreciation waits for no one.

"The average sales price was in the beginning of 2014 about $125,000. Today, it's $269,000," he said.

But a word of caution. In real estate, there is no such thing as a sure bet.

"I think it's a high-risk, high-reward proposition investing here," Nelson said.

Just toss in a yoga studio and a few golden retrievers and watch out, LoHi, there's a new kid in town.