3 Colorado Real Estate Trends to watch in 2015
Looking back, 2014 has been a big growth year in Colorado real estate trends with Denver being named by many publications, including Forbes as one of the top 20 fastest growing cities and CNN Money as a top 10 . With the dawn of the new year, there could be some storm clouds on the horizon, I wanted to highlight 3 trends to watch for in Colorado in 2015.
- Oil/Gas prices: Colorado is still heavily dependent on natural resources; primarily oil and gas. The current price of gas is half what it was last year, What does this mean for Colorado?
- Marijuana: Seems like many folks buying commercial warehouses are smoking way too much with valuations sky rocketing. Is Colorado High on Marijuana? (see Colorado Real Estate Journal article)
- Colorado and many other cities are increasing prices faster than wages (mainly across the front range), how accurate are valuations with this huge increase? Anyone have dreams of the last crash in 07? I wrote an article after looking at an appraisal in Northern Colorado that was way off: What do Dominos and appraisers have in common? (see Colorado Biz Magazine article)