DENVER -- If you're interested in the urban lifestyle, there is great selection. However, real estate experts warn prices will probably continue to drop and it could be hard to get a loan.

"There’s a huge discrepancy with the low end, and not even the luxury market, even $285,000 to $300,000 you have a lot of inventory right now, which is why you’re seeing sellers trying to sell and prices coming down in a lot of these areas," said Charles Roberts, a mortgage broker with Your Castle Real Estate.

Prospective buyer Blake Harrison agrees.

"Obviously there’s selection, but some are more than they’re worth," said Harrison.

Harrison said he's attracted to condo living because of the low maintenance, the amenities and the location.

In Denver, condo prices vary greatly. Even at "The Spire", located on 14th Avenue in downtown Denver, units range from $200,000 to $1.1 million.

"What we’ve seen in this economy is we’re selling from the bottom up," said Chris Crosby, the Executive Vice President of Nichols Partnership, the developer.

Of 493 units, Crosby said they had sold 110. The first buyers will move in next month.

"We’ve been selling about three to four per week here so sales velocity has been pretty strong," said Crosby.

However, Crosby acknowledges that buyers have a lot to choose from. In part, he credits incentives for helping to sell units.

"We’ve done a $35,000 dollar incentive on some selective floors," he said.

Crosby said that means buyers can take $35,000 dollars off the selling price, or get that much in upgrades.

"They’re making deals. They want to get these things sold," said Roberts.

So, 7NEWS asked if it's a condo is a good investment right now.

"If you’re an investor, and it makes sense for you it can be a very good time right now, the rents are fairly strong and the interest rates are low," said Roberts. "As an owner, sure, if you want to live some place and you’re going to be there for awhile and you’re qualified right now, it’s great."

However, Roberts added prices will probably continue to drop before going up.

"The prices have gone down about seven percent in the last year. They went down about nine percent the previous year. I personally don’t think we’ve hit bottom above $200,000," he said.

Getting a loan can be difficult too, according to experts.

"They’re usually treated as a more risky investment," Roberts said. "You’re not just buying your condo. The lender has to buy into the whole project. They’re going to want to know what percentage of the other units are owner-occupied. They're going to want to see 51 percent of units owner occupied. Also, with new developments, they need to see construction pre-sales."

Roberts said be prepared to have 10 percent down in order to qualify.