Episode Overview

A $1 condo listing in Lakewood just had an open house – and ZERO people showed up. This isn’t just a quirky real estate story; it’s revealing what July 2025 Denver market trends are showing us about a massive shift happening right now. While detached homes stay relatively stable, condos are crashing with prices down 7% year-over-year and financing options disappearing.

Chris Lopez, CEO of Envision Advisors and host of the BiggerPockets House Hacker Show, breaks down July’s Denver market trends with Key Renter’s Brandon Scholten and Nova Home Loans’ Troy Howell. These aren’t just numbers – they’re revealing opportunities for savvy investors who know where to look.

Denver’s active inventory just hit 13,995 listings – the same level we saw in 2011 during the post-recession recovery. Transaction volumes have dropped to Great Financial Crisis levels despite massive population growth. Meanwhile, most condo complexes can’t qualify for agency financing, creating a perfect storm that’s pushing desperate sellers to list at $1 just to get attention.

Here’s what makes this episode different: We’re not just talking theory. Brandon shares real data from his property management portfolio showing which areas are struggling (hint: it’s not just condos), while Troy reveals why financing has become nearly impossible for many condo buyers – and what that means for cash investors.

In This Episode We Cover:

• Why a 2-bedroom Lakewood condo dropped from $260K to $1 and still got zero interest
• How Denver’s inventory levels mirror 2011 despite Colorado’s population boom
• The financing crisis killing condo sales (and creating opportunities for cash buyers)
• Why room-by-room rentals are delivering the highest cash flow returns right now
• $100 million in downtown development funding – and why office conversions cost $146K per door
• How the Broncos’ land acquisitions are doubling property values in target areas
• Interest rate updates and the “magic number” that could unleash buyer demand

Bottom line: While mainstream media talks about market stability, the data reveals we’re in a unique moment where informed investors can find deals that won’t exist once rates drop below 6%. Whether you’re looking at new construction discounts, distressed condos, or multi-family opportunities, this episode gives you the local intel you need to act.

Don’t miss this deep dive into Denver’s current market dynamics – subscribe now for weekly insights you won’t find anywhere else.

https://youtu.be/1R2kWR_B7rM?si=E_Pw8Aav8-hRie5i Timestamps

00:00 – Welcome & Introductions 
01:21 – July Market Trends Deep Dive – Active inventory flat at 13,995 listings (down just 12 from June)
03:16 – $1 Condo Listing Breakdown – Lakewood 2bed/1bath, 100 days on market, ZERO open house attendance
07:24– Condo Financing Crisis Revealed – Most complexes can’t get agency financing, FHA eligibility issues
14:23 – Inventory Levels Match 2011 Crisis – 14K active listings same as post-recession era
16:32 – Transaction Volume at Great Financial Crisis Levels – Despite population growth since 2008
25:58 – Vacancy rises to 6.4% from 5.6% last year, new apartment supply pressures market
30:15 – Construction Pipeline Update – 2,400 new units added Q2, 4,500 absorbed
32:34 – Denver Eliminates Parking Minimums – “Housing crisis, not parking crisis” policy shift
34:35– $100M Downtown Development Projects – Office conversions at $146K per door subsidy
38:37 – Broncos Land Acquisition Continue – $10M warehouse purchase doubles 5-year value
40:47 – Zeppelin Station Receivership Crisis – Former food hall hotspot now nearly empty
43:22 – Interest Rate Update – Mid-6% range, FHA at 5.5% with points
47:43– Investment Opportunities Wrap-Up – Room rentals, new builds at 20% discounts, multi-family deals

Links in Podcast

10 Denver projects picked to get $100M in Downtown Development Authority dollars
Warehouse sells for $11M near possible Broncos stadium site
Denver no longer will require parking minimums for new developments
New food hall operator says he’s out as Zeppelin Station lists for sale

Connect with our Guests:

Brandon Scholten: brandon@keyrenterdenver.com

• LinkedIn: Brandon Scholten
• Website: https://keyrenterdenver.com/

Troy Howell: troy.howell@novahomeloans.com

• LinkedIn: Troy Howell
• Website: https://www.novahomeloans.com/loan-officer/troy-howell/

Who is Keyrenter?

Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them.

Who is Nova Home Loans?

For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today!

NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO