Nobody is talking about the impending storm coming for Colorado property owners. Even with fixed rate mortgages, payments are set to skyrocket next year. What will cause everyone’s payments to jump in 2024 on top of large increases already for 2023...
Colorado Hard Money Blog
Vail sues Vail, town of Vail has resounding win; what does this mean for real estate?
First, I had to share the joke above. For anyone that lives or spends time in the mountains it is unfortunately very relatable😊 It is a bit ironic (and confusing) as the company Vail resorts sues the city that its name originated from. The suit...
Denver ties Detroit in a top 10 list
It is not very frequently Denver and Detroit get lumped together for anything. But both cities unfortunately have a few things in common now. In this case Denver and Detroit take top honors as top 10 states in a Redfin study where more people are looking...
What Colorado ski town is outperforming others : Which Colorado ski town is the best investment?
As I predicted, we are starting to see some big changes in Colorado ski real estate. Even as prices in many markets throughout the country are staying flat, some Colorado ski real estate is still increasing while others are starting to correct. What is...
Colorado Foreclosure filings, where are they and what does this mean for values? What is the number one driver of foreclosures?
Many counties in Colorado are now using an online auction program for foreclosure sales which provides an interesting comparison of where distressed real estate deals are occurring. Denver, the most populous county in Colorado, is not even close to the top of...
2 new bills signed into law that will cause Colorado property insurance to skyrocket
Colorado has not learned from the debacles in Florida and California and instead created their own public property insurance plan in the recent legislative session. Furthermore, the government now dictates the amount of insurance that must be provided by carriers. ...
Aspen/Pitkin County lines up ban on short-term rentals
Aspen continues leading the way in Colorado on nightly rental regulations. Historically what happens in Aspen ultimately flows through to other mountain communities. What is in the exclusion of nightly rentals in Pitkin County? Are these new...
Appealed your Colorado property taxes, what is next, one fundamental flaw in assessor data.
Hopefully many of you on this list took the time to appeal your Colorado property taxes. I absolutely did! For my appeal, I filed the formal appeal and also spoke with the assessor to discuss. I got my letter this week and the assessor refused to...
What to expect in Colorado real estate the second half of the year; will the party continue?
Wow, the first half of 2023 has been relatively good in real estate throughout most markets. Volumes are down substantially, but there has been little movement in prices. Even with higher interest rates, most areas have stayed relatively flat, but the...
91% believe rent “stabilization” in Colorado should be implemented, what happened in the legislature?
In a recent survey done by New Era Colorado where they polled 506 Coloradans between 18 and 34, a whopping 91% supported “rent stabilization” policies. The legislature is hearing this drumbeat loud and clear. The biggest focus of this legislative session has focused...
Median income soars in CO mountains, is 150k/year income affordable housing
It is likely no mystery that the Colorado ski towns are getting considerably more expensive, but the recent data released by HUD is eye opening. HUD releases income figures every year based on census data and other factors, such as the rate of inflation. What do...
New lawsuit could void Colorado property tax relief
The ink was not even dry on the new proposal to reduce property taxes and radically alter Tabor that is supposed to go to voters in November when a lawsuit was filed. Although, many legislators are acting surprised, the lawsuit was so obvious based on how the...
3 Colorado cities top boom-towns in country; what happened to each one?
SmartAsset uncovered the fastest-growing cities in the U.S. To identify the top boomtowns in America in 2021, they looked at the most recently available data for 500 of the largest cities across the following seven metrics: population change, unemployment rate,...
Mushroom theory got kicked apart in Denver real estate, what does this mean for prices?
For the past 15 years or so, my “mushroom theory” was an amazing tool (no I’m not talking about the magic mushrooms that were approved by voters). Up until Covid the mushroom theory worked like a charm to predict price appreciation in cities like Denver, but...
Tax bills double in CO mountain towns, new legislation doesn’t help, you can reduce your taxes
Our legislative branch and Governor have touted a new proposal to drastically reduce property taxes after they have skyrocketed due to increasing values and the elimination of the Gallagher amendment. Unfortunately the new bill will not help the overwhelming...
New property tax bill is radically altered leads to huge tax increases and allows local governments to grow 20 times inflation.
Wow! You can always hand it to the politicians to take a simple property tax measure and fill it to the brim so in the end it costs more than it actually saves you. In a last-ditch effort, the Colorado legislature approved: SB23-303 Reduce taxes and voter...
Big changes in mountain real estate, volumes drop, but there is one big surprise
Although March is typically not a big sales time in the mountains with mud season and the resorts closed, there are some interesting trends emerging. As suspected single family homes sales volumes have dropped dramatically along with median and average sales...
Colorado property tax relief: Polis reveals plan to ease skyrocketing tax bills
Colorado property taxes were set to jump almost 50% in some markets which finally go the attention of the Colorado Governor. At the last minute, Governor Polis put together a proposal that supposedly will drastically save taxpayers. What is in the new...
Taxes jump, you have 30 days, how do you appeal (quick guide) and should you?
Get ready for sticker shock; as you will be receiving your new tax assessment in the next few weeks (typically the beginning of May) and time is of the essence as you have a limited window if you want to fight your tax value. How can assessed values continue to...
Denver prices set to fall 16%, will Golden handcuffs come off
I’m asked daily what happens to prices in high cost cities like Denver. Will prices stabilize due to the Golden handcuffs of low rates? Will prices go into a free fall due to higher mortgage rates? Historically there is a correlation between rents...
“Apparently we are too stupid”; Colorado Mayors Blast Polis’ statewide zoning proposal
With a supermajority, the legislature has been busy crafting bills that will radically alter the real estate landscape. The recent proposal allows the state to dictate zoning in every county throughout Colorado and eliminate single family zoning. Colorado mayors...
Big changes to traffic patterns and Colorado mountain real estate post Covid
Anyone who has ventured into any Colorado ski town recently has noticed a profound change since Covid. Everything seems to be busy all the time, prices have skyrocketed, and longtime locals are quickly priced out. What is causing the swift changes and what...
Coloradans can defer payment on a big chunk of their rising property tax bill; should you???
The legislature passed a little known bill in 2021 to allow property owners to defer their property taxes above 4% increase starting in 2023. On the surface, this sounds like a great plan. Why wouldn’t someone want to defer their property taxes. Unfortunately the...
Rent Control through the backdoor in Colorado passed the house
Every time I turn around there is yet another proposal to implement rent control. The newest house bill concerning requiring just cause for an eviction recently passed its first hearing. On the surface it sounds harmless, but the details are the most...