Jurey, Sheryl L to Andrew Ross Real Estate LLC, 7218 Morton St., $75,000. Leduc, E Leveta Estate to Rosburg Enterprises Inc, 2231 S 37th St., $113,000.

Is Colorado a good state to invest in real estate?

Mashvisor recently had an interview with Joe Mivshek, a real estate agent at Keller Williams Realty who’s been living in Colorado for 30 years. In this interview, Mivshek states that Colorado is still a very hot seller’s market. Over the past 3 years appreciation has been 7-11% per year, depending on the areas. Many records have been shattered like the average home price is now over 400k.

Colorado has the lowest unemployment rate in the country at 3% compared to a national average of 4.1%, which is a main driver of the housing market and an important factor in real estate investing. The Colorado real estate market is still booming in terms of both residential and commercial real estate properties. Population is increasing, as Colorado gained 70k people in 2017!

According to Mivshek, if interest rates climb slowly, we’ll switch to an even market (neither a buyer’s market nor a seller’s market) in 18-24 months, but no one sees downturn since the unemployment rate is so low. Real estate investors are advised to look for both short term and long term rental options. If an investment is priced high, look at the short term/vacation rental market. If you find a home that can be rented long term with a 6% or better cap rate, that’s the way to go. You’ll get great rental income and long term appreciation on both options.

If you’re interested in reading the full interview, read: The Colorado Real Estate Market 2018: Interview with Expert Joe Mivshek