Denver real estate boom can benefit first-time homebuyers

Problem Solvers

DENVER (KDVR) — Even with soaring home prices, Denver’s real estate boom is providing opportunities for first time homeowners and families looking to plan for the future.

After working hard and saving enough money to move out of subsidized housing, the Saenz-Perez family purchased the home of their dreams.

“Just to have a tiny little piece on this big old earth to call yours,” said Bonnie Saenz-Perez.

The loving family of seven gathered around their new dining room table, laughing, sharing, doing homework and most of all, appreciating a home that has room for everyone to enjoy.

Josephine Saenz-Perez tearfully tells the FOX31 Problem Solvers, “I feel very blessed and thankful because I just never thought I’d live in a house this big.”

Thanks to Denver’s real estate boom, the family’s home is now valued at  nearly $200,000 more than they paid for it three years ago, something father Cesar says will help secure the children’s future. 

“It provides something you couldn’t provide before, you’re actually paying for their future, with the equity that we have in this house, if I was renting I couldn’t use that to pay for somebody’s college,” he said.

Realtor Kathy Casey of Coldwell Banker Realty sold the Saenz-Perez family their dream home. She tells the Problem Solvers, she can relate to the family’s joy and excitement, for a very good reason.

“I grew up in the projects,” she said. 

Casey is one of the metro area’s most successful realtors, selling million dollar properties in the Cherry Creek area. She also supports organizations that help families work to transition from subsidized housing to homeownership.

“That just means a lot to me because this is the first step for you to change the trajectory to change your family’s financial future,” she said.

Casey emphasizes that even with Denver’s soaring home values and prices, low interest rates and first-time home buyer programs allow affordable mortgage payments and there are properties on the market listed for under $200,000.

“Whenever I can open the door to somebody, especially somebody who didn’t think they could qualify or they could own a home it just makes everything worthwhile,” Casey said.

Bonnie Saenz-Perez tells FOX31 she and her husband were fortunate to find the right home at the right price.

“I believe it was God sent and saved for us,” she said.

The family had one dream home must-have – to finally have enough space for a dining room table.

“Somewhere where we could sit and have dinner together as a family, as one,” Bonnie said.

Cesar adds that at the end of the day, it is important for families to gather in one place.

“You want to know as a father what they’re doing at school, when it comes to dinner we all sit together at the table. We put the phones away, sometimes,” he said with a chuckle.

Daughter Josephine reflects on living in a small home when the family rented while her parents saved money and planned to buy a residence.

“Seeing my dad work so hard for all of us, to provide for us and trying so hard I know they wish they had a home for us, to finally be there, it’s just amazing,” she said.

If you need housing or are interested in homeownership Denver Housing Authority and first-time homebuyer organizations can help.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Most Read

Top Stories