How will the new and future light rails affect Metro Denver’s home prices?



With Denver’s FasTracks moving north of Denver, and its estimated completion for 2019, what does this means for home prices?
                Well, first we will see what lines are already built and what are in the process of being built. The G line was completed this year and runs from Union Station in Downtown Denver to Arvada/Wheat Ridge.
                The line they are currently working on is the B line. This line will start at Union Station and travel all the way to Longmont. At this time they only have tracks built to Westminster and trains are not in service for passengers. They are hoping to finish this line by the end of 2016.
                The last line that is going to be in our Metro Area is the N line. This line will again start at Union Station   and go all the way to Highway 7. So far they have completed up to the Eastlake Station, off of 124th Ave. The N line will not be completed for quite some time.
                So now that we know what lines are going in and/or available to us, what does this mean for home prices in our neck of the woods? In order to see what could happen, let’s take a look at what how FasTracks affected the neighborhoods south of Denver, where the light rail is in full service.  
                According to a Denver Post article “The closer a home is to the station, the more its value increases. Homes less than a half-mile from a station increased an average of 17.6 percent, while those 1 1/2 to 2 miles away increased just 0.1 percent on average. The data varied widely among stations, however.”  This was back in 2008, only 2 years after the South light rail lines were completed. Now in 2016, 7 years later, and Denver being a white hot market, this means being close to the Light Rail line could increase the value of your home!
                Also, with Gas prices on the rise again and people not wanting to sit in traffic, the light rail will be a breath of fresh air to most who have to commute downtown or to the Tech Center.
With or without the light rail, Denver and its surrounding communities are part of a white hot market, and buying what fits your family needs is more important than making sure you’re close to a light rail, or future light rail station.  So when considering to sell or buy your next home, our marketing will procure and get you top dollar for your home.  Make sure to think The Harmes Team! We will find the home You want in the neighborhood You want. The Harmes Team promise to help make your Dreams become Real Estate!! 
All photos can be found at http://www.rtd-fastracks.com     





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