Gunnison county, home to Crested Butte ski resort, issued an order banning non resident visitors and homeowners from remaining in the county during the pandemic. This is the first city in Colorado and possibly the country to ban property owners. Furthermore, Clear...
Colorado Hard Money Blog
Colorado bans real estate showings, 1k fine
I hope everyone is doing well and staying safe and healthy. Fortunately, our new “employee” Luna continues her hard work unfazed by the Coronavirus 😊 The Colorado Attorney General’s office issued a letter that effectively prohibits real estate property...
Ski industry loses 2 billion, Vail resorts stock drops 45%
We are still Lending! Do you know where I took this picture? It is amazing how quickly fortunes have changed, less than a month ago Vail resorts stock peaked, yet over the course of a few weeks Vail lost over $200 million and its stock dropped 42% while the industry...
2020 updated Colorado Real Estate Market predictions: Coronavirus update
We are still lending. First, I want to give a hats of to these folks for their creativity, they took their bikes down a black run. This pic is the only time I saw them upright from top to bottom! I hate to update predictions only three months into the year, but...
All Colorado resorts close, Breckenridge & Telluride turn off the lights; Real Estate?
First, I hope each of you and your family are doing well in these challenging times. Above is a pic of my new office, I’m doing my part to be socially distant 😊 (do you know which mountain this is at?) The coronavirus is rapidly impacting the...
Colorado’s secret tool to predict a recession
I was recently at a major grocery store in Steamboat and toilet paper and water were both sold out; this is a bit perplexing as if there is no water, how are you going to flush the toilet? Did you know that Colorado has a metric to predict the next recession that is...
Marijuana legalization reason 27% of realtors cite decrease in values
The National Association of Realtors released their “marijuana and real estate- a budding issue” research paper that found that 27% of realtors had seen a decrease in property values near dispensaries, while 12% has seen an increase in values. What does this mean...
Denver airport sues Aurora to stop development, do you know if you are buying a “loud house”?
Officials from DIA recently lobbied the city of Aurora to plead with them not to allow homes so close to the airport. Aurora promptly ignored their request! What happened with this development? Why is this new development a game changer? What is the impact on...
Colorado house prices and building costs increase, Thank Breckenridge
Summit County (Breckenridge, Silverthorne, Frisco) is set to adopt a sustainable building code that would require new residential construction in the county to be among the most energy efficient in the nation (Zero Energy Ready). This new building code will increase...
Colorado population growth inbound 1st time since 2009
According to one of the nation’s leading movers, the 2019 Atlas Van Lines Migration Patterns study found that 26 states registered as balanced—meaning that moves in and out of the states were roughly equal—13 as outbound, and 11 as inbound. Colorado became “inbound”...
Can a city “condemn” open space to develop it? Breckenridge will answer this question
In Colorado, residents love open space and the quality of life it brings. On the flip side there is a brewing affordability crisis throughout the Denver metro and in every resort community in Colorado. This leads us to the question; can Breckenridge use eminent...
Property tax increase of 300% on rentals
Republican Bob Gardner from Colorado Springs has proposed a property tax increase in bill 20-109 that will tax nightly rentals as commercial property. This bill is gaining support from local residents and city councils and will have substantial impacts on mountain...
Vail resorts skier visits plummet
Vail resorts recently announced that skier visits through January 5th are down 7.8% across all its resort properties while lift ticket revenue was flat. With prices not increasing, how are visits down yet revenue still flat? What does this have to do with one ski...
Real Estate Inventory down almost 30% in Denver
According to the Colorado Association of Realtors, Denver real estate inventory fell 29% in December, number of sales increased 17% and sold price increased 5%. Breckenridge and Steamboat also saw listings decline by almost 30% with prices increasing modestly....
Metro Denver counties win supreme court approval to limit growth
After being tied up in litigation, the Colorado Supreme Court just authorized a new anti growth initiative to substantially limit growth within the 11-county metro area (from CO springs to Ft. Collins) and all the cities/towns within. The new initiative limits new...
Airbnb rental owners beware: Felony charges filed on nightly rentals
I always hate in the news where you hear about a story and are left wondering how it was actually resolved. A few months ago, Denver began filing felony charges against homeowners for illegally renting properties via airbnb and Homeaway and lying on the affidavit. ...
Colorado Real Estate Market in 2020
Happy New Year! It is time for my annual Colorado real estate market predictions. Is it dawn or dusk for real estate in Colorado? The main economic drivers in 2020 will be the pace mortgage rate increases, the election, and end of cycle volatility. Each of these...
Ikon beats Epic for top spots CO has 5 of 10 top ski resorts impact on real estate
Do you know where I took the picture above? (e-mail me if you know, the mountains should provide a hint :). Ski magazine came out with their annual list of top ski destinations. Colorado took the crown with 5 of the top 10 ski destinations which accounted for almost...
Ghost kitchens on the rise, ski towns lead the way, 3 impacts on real estate?
“Ghost Kitchens” are on the rise? What are they anyway (no they are not haunted kitchens)? What is causing this new phenomenon? How will this impact real estate? My first experience with a “ghost kitchen” was in Breckenridge Colorado about three years ago where I...
Best towns to visit in US, Colorado has 3, one thing in common other than snow
In US news and World Report’s annual listing of the 25 best small towns in America, Colorado’s ski towns take the crown landing 3 in the top 15. Although it is no surprise that Colorado has become a coveted destination, I was surprised at what all 6 ski towns on the...
Walmart helps small business owners; Sues Summit (Breck) and Eagle (Vail) counties
Walmart is suing Summit and Eagle Counties and 31 other county governments in Colorado in an effort to reduce its property tax bills across the state. This case is radically different than your run of the mill property tax dispute. Walmart Stores Inc., is...
Homes for sale in colorado decline.
According to the Denver Metro Association of Realtors, Denver metro new real estate listings fell 12% in October, number of sales dropped 6.4%, and sold prices stayed basically flat. In addition, homes for sale in colorado dropped. Don't worry, the sky is not falling...
Will next Denver housing market recession be severe?
Although nobody knows how or when the next denver housing market recession will occur, we saw in the last cycle certain cities performed substantially better than others. Redfin recently ranked the top metro areas that will perform best (and worst) in the next real...
Happy Halloween, I feel your pain 😊
First I wanted to wish each of you a Happy Halloween. The picture above is from my pumpkin adventure with my kids. On the left is what the pumpkin carving package shows, on the right is the actual end product. What happened to the days of cutting out two eyes and a...