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Aurora’s Motto: “Gateway to the Rockies”.
 Aurora is the third largest city in the Metropolitan Denver Colorado area; Aurora is divided between Adams County (to its north) and Douglas County (to its south). Aurora was founded in 1891 by a local real estate tycoon by the name of Donald Fletcher, Fletcher named his new town after himself, Fletcher. Fletcher abandoned it just two years later leaving Fletcher’s citizens high and dry with huge bond payments and water that never existed. Fletcher was renamed Aurora in 1907.
Aurora interstate highways: I-70, I-225, and E-470. The Regional Transportation District’s “light rail” system serves parts of the southwestern area of Aurora. An extension along I-225 through the city is planned to connect with the “Light Rail” line between downtown Denver and the Denver International Airport between 2006-2008.  Sections of Aurora are more convenient to Denver International Airport (DIA) than Denver. Many airline employees reside in Aurora. If you are looking for a convenient commute to “DIA” as an employee or frequent traveler than Aurora Colorado Real Estate may be for you, Dearch our special IDX feature and find Aurora Colorado Real Estate and homes currently for sale and in the MLS Search for Aurora Colorado Real Estate listings. The “LIGHT Rail” project is currently scheduled for completion in 2015. This proximity is a factor in the expected growth of the E-470 corridor directly south of “DIA”, projected to eventually accommodate 250,000 additional Aurora residents.
Aurora is bordered by Denver & Centennial to its west, Watkins to its east, Denver to its north, and Greenwood Village, Centennial, Foxfield and Parker to its south.
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About Appraisals >Three Caballeros
When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are very similar to the one you are buying -- and will make adjustments to reflect the differences between the properties.
Housing patterns tend to be homogenous, meaning that homes worth $300,000 are usually located in $300,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price.
This is not the only factor considered in determining the worth of a property, but it is an important one. The buyer or seller may view the property as a home or an investment, but lenders view it in a completely different way. To a lender, property means security in the event a borrower fails to repay a mortgage. Therefore, lenders must know real estate values in order to limit their risks.
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What economic factor can make the purchase of a home an excellent long-term investment?
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Home price appreciation can result in a substantial return on the buyer's investment as a house increases in value over time. |
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