“It would be very challenging to be a buyer right now,” says Home Smart agent Mary Anschutz about how the Denver market looks to prospects this Christmas week — but she has a possibility to show you today in Arvada, a single-family ranch arriving on the market this weekend at $549,999.
Anschutz, who works all over town, says that sparse outlook is true whether you’re a young buyer reaching for your first house, or an older one, thinking of downsizing, trying to stay close to your old neighbors and community—possibly having to pay more money for less space.
This house, at 5112 Jellison Street in Arvada’s Sandra Terri neighborhood near Kipling and Ridge Road, might work for either one of those situations. Itap a ranch plan thatap been newly remodeled to open up its main-floor living area (three beds and a full bath) to a wide-open living-dining-kitchen area; while updating the finished basement with two guest bedrooms and a second bath, plus its own kitchenette.
“This might be the perfect situation for grandparents moving to be close to their Colorado kids,” says Anschutz—one that agents and builders are seeing all over town. Grandma and Grandpa get a main-floor master and over 1,000 sq. feet on the main level; and have plenty of room in the basement for when the family comes to visit.
Meanwhile, this Space-Age neighborhood built in 1958 is three blocks from Arvada’s Jack B. Tomlinson Park, a half-mile from the Harold D. Lutz ballfield complex and the Stanger Soccer Complex off Kipling at W. 58th; and just a few blocks from a new Gold Line Light Rail station—a nice setup for grabbing the train into Arvada’s Olde Town, one-stop east, enjoying the dining and bars there (when everybody can begin doing that again), and then heading home without pulling out your car keys or hailing an Uber.
Anschutz notes that Arvada, famously popular for having homebuyers who grew up here and want to stay in town when it comes their own time to buy, is coming under increasing pressure from out-of-town buyers wanting those same attractions.
“People are jumping on the chance to come to Denver now that work-from-home is allowed,” she adds. That puts additional pressure on housing. Low interest rates, Anschutz notes, allow some buyers to arrive, pay cash for a house, and then quickly refinance it to pull those dollars back out.
As a sign of just how little inventory is competing with her Arvada listing, you can look at the Zillow map for the area and not see a single red dot within a half-mile of here. The home is three blocks east of Kipling at W. 51st Place, where you’ll see a wide-open kitchen-living area divided by a granite-top bar with sink and all new stainless appliances; original hardwood floors; a large backyard with firepit; and a new furnace, hot water heater, and air conditioning.
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