Moving to Denver? Consider Aurora's Cheap House Prices

Despite the troubles caused by the real estate market meltdown, there is an upside – cheap housing prices. From Miami to Las Vegas to New York City, prices are reaching rock bottom. Another such example is Aurora, Colo., which is located just outside of Denver.

Aurora is the third largest city in Colorado and boasts many of Denver’s most famous qualities including ample green spaces and a left leaning hippie-grown-up kind of vibe. It is often considered a part of Denver’s growing suburbs.

What makes Aurora’s real estate market so attractive is the cheap housing prices. Aurora has benefited greatly from Obama’s tax break initiatives for first-time home buyers. The credit spurred a frenzy of home buying in the third and forth quarters of last year. When Obama expanded the credit, even more home buyers came forth.

The city comprises largely of older homes built in the 1940’s and 1950’s. As a result of increased home sales, Aurora’s economy is recovering quickly. Its current unemployment rate is still high at 7.5 percent due to Aurora’s large population of construction and retail workers. However, the proximity of Buckley Air Force Base has been helpful.

Foreclosures are also slowing down in Aurora. Obama’s newest initiatives to help out homeowners who are facing foreclosure, including HAMP and other bailout schemes, have proved an enormous help in keeping homeowners afloat. The cheap housing trend can be seen in the hardest hit areas of the states like California and Florida where local associations are trying hard to attract more investors.

Written by Lani Shadduck
HULIQ.com