Denver still white hot

[Scott Lepore]

Well I just listed a flip on Saturday afternoon and have had 37 showings in 2 days.  No, that's not a typo.  The new carpet is probably worn out already and will need replacing.  4 offers so far with more coming.  best one is 20k above asking.  When will the madness end.  I'm way nervous.  

[Matt M.]

Originally posted by @Erin Shine:

This is speculation but how much higher do you think Denver can realistically go? It's been on a tear for years and seems that many (at least close to the center) homes are well above general affordability for working households. The economy is generally very strong and people are still moving into the state by the thousands. And much should we worry about potential recreational marijuana crackdowns and how that affects CO?

http://www.huffingtonpost.com/entry/jeff-sessions-...

 Did people move here for cannabis. Sure. But our growth is built on more than just pot. IF the feds cause problems for the rec industry(which I don't think they will), it won't be an issue for small time guys or individuals to get their fix. The State and local authorities can't really go after the individuals. You're talking about a $1BLN!!+ industry here in Colorado with 20k+ jobs. The tax money is already pouring in, and those who benefit will fight to stay on that teat. 

I'm still very bullish for the next 3-5 years. If you have a chance, check out some of Lon Welsh's classes on trends here in town. I think he's even more bullish. 

Unfortunately, people have figured out that Denver isn't a frozen wasteland in the winter. They come to visit, see how nice it is, and move out. East and West coast dollars still go a long way in purchasing RE out here comparatively. 

PS - Don't move to Denver