Daily Market Update: Denver’s low-cost neighborhood is heating up say agents

by MPA26 May 2015
Denver’s low-cost neighborhood is heating up say agents
The southwest corner of Denver is starting to heat up having long been an affordable option for those looking for a home in the city. It’s bad news for first-time buyers who have historically been able to find affordable property but are now finding higher prices, lower supply and bidding wars. Real estate agent Heather Heuer of Porchlight Real Estate Group told the Denver Post that the southwest neighborhoods are now “getting their place in the sun”. There is concern that residents will be priced out of their own neighborhood, something which has been a factor in other parts of Denver, especially as investors have been buying homes when prices were low and are now putting them back on the market without having improved the properties but getting far higher prices. Heuer says that people are “paying more for a lesser product”. However a local councilman Paul Lopez, who grew up in the area is pleased that it is rebounding from depressed prices following a period of high foreclosures; although he would like current residents to be able to refinance more easily.
McCartney buys $15.5 million NYC penthouse
Sir Paul McCartney has bought a penthouse in New York City for $15.5 million according to the New York Post. The luxurious home at 1045 Fifth Avenue is a duplex with great views of Central Park from its wraparound balconies.
Is it a fire station? Is it an opera house? No it’s a home
It’s not uncommon for a home to have been used for a previous purpose but a house on the market in West Virginia has been through many incarnations before settling as a residential property. The Shepherdstown building, built a century ago, was originally an opera house. It then became a fire station. Later it was used for town council meetings, movie theater and even a jail. The Washington Post reports that the 4,000 square foot property was converted a residence in 1995 and is listed for sale at $650,000. The listing agent for the historic home is Susan Reichel with Keller Williams Premier Realty in Hagerstown, Md.
Katharine Hepburn’s Connecticut estate listed for $14.8 million
The estate where Hollywood legend Katharine Hepburn spent many happy times as well as her final days is up for sale. The Connecticut home was bought by Hepburn’s parents when she was a child and, as Zillow reports, it was destroyed by a hurricane in 1938 but the actress rebuilt it. The home has 6 bedrooms, 2.5 bathrooms, 7 fireplaces and sits on 1.47 acre. The listing price is $14.8 million.  



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