While other mountain towns implemented taxes and regulations on short term rentals, Steamboat was a bit late to the party. Locals were not happy and elected a new council. The new ballot question will raise the short term rental tax to 20.4%. Will this pass in...
A record 32.6% of Redfin.com users nationwide looked to move from one metro to another in the second quarter, up slightly from 32.3% in the first quarter and roughly 26% before the pandemic. Denver was recently named by Redfin a top “outflow” destination with...
Well’s Fargo just released its midyear housing update and from the surface it looks rosy for Denver and Colorado. How accurate are their assumptions? Will Colorado real estate continue to increase in light of an impending recession? Hint, don’t get too...
In Portland, the homeless population has increased 50% since Covid due to rapidly increasing house prices. The same has happened in Denver, with the homeless population doubling from 20 to 21 while at the same time spending has increased to half a billion a year...
Aspen home prices jumped from 10 million to 16 million from 21 to 22. At the same time the city council has recently increased restrictions on new construction. How many demolitions/new builds do you think the city will now allow? Hint, the number is much lower than...
Summer has come in with a roar in the Denver metropolitan area as inventory in June jumped 76% year over year. What has caused the huge jump in inventory? What does the change in inventory mean for prices? How will Denver real estate perform compared to the...
The top job-related search between January 2021 and January 2022 was “how to become a real estate agent.” More than 60% more people became realtors during the pandemic. What is this statistic telling us about future real estate prices in Colorado? What was in the...
Colorado is an odd state, prior to last year, you were unable to buy full strength beer in grocery stores. In almost every other state, you can walk into a grocery store and buy wine/beer, but not in Colorado. In many states you can even buy liquor in grocery and...
The amount spent on real estate in six of Colorado’s resort-anchored counties doubled from 2019 to 2021. Average prices in Eagle, Grand, Pitkin, Routt, Summit, and San Miguel in 2021 were up 57% from 2019. Where does Colorado ski real estate go from...
Denver just passed an “affordable housing program” with new requirements for low-income housing. Multifamily will have large requirements for low-income housing that will drastically alter the type and number of units constructed. Furthermore, all property...
Allot has changed in the last six months. Interest rates have skyrocketed, appreciation has continued, and inflation continues to roar. How does this impact my prior Colorado real estate predictions? Where does Colorado real estate go in 2022? Will the staggering...
It is not surprising that Colorado ski towns like Breckenridge and Steamboat are finally slowing down. After years of double-digit price gains, are the mountains finally turning a corner? Is the big slowdown due to the nightly rental regulations restricting the...
Aspen is following Breckenridge’s lead with substantial changes to Aspen nightly rental regulations. Aspen is proposing a cap on the number of units along with a cap on the number of rental days allowed. How will this impact real estate prices in...
With initiative 74, which I wrote about last week, looking to likely pass, legislatures agreed to a last-minute compromise to try to avert a showdown over initiative 74. The solution, Senate Bill 238 to reduce property taxes. Unfortunately, the math doesn’t add...
In an effort to slow the double digit increase in taxes, there is a new initiative, 74, that could be on the ballot in November. The proposed constitutional amendment would drastically alter how property taxes are calculated in Colorado. How will this initiative...
In rapidly increasing markets, everyone is an expert! Unfortunately, the real estate investments market is transitioning and there will be winners and losers. Everyone always touts location, location, location to pick winning properties/areas? Is...
Currently in mountain towns throughout Colorado lodging taxes must be used for tourism marketing. This week Governor Polis just signed a monumental bill into law that allows towns to use only a small portion for lodging and the rest for other items. What does this...
Spring has come in with a roar in the Denver metropolitan area as inventory from February to March jumped 81%. What has caused the huge jump in inventory? What does the change in inventory mean for prices? How will Denver real estate perform compared...
About two out of every three homes in America are underinsured. The average underinsurance amount is about 22%, though some homes are underinsured by 60% or more. We saw this firsthand with the Marshall fire and pretty much every natural disaster in Colorado. ...
Facing a tough midterm election and divisions in Congress, the Biden administration is sidestepping the politically sensitive issue of loosening marijuana laws even as the idea has gained support of most Americans. With no movement at the Federal level, what does...
Thanks to one of our readers, Randy, for bringing the recent homestead exemption legislation to my attention as the changes are profound and yet there has been zero media coverage. The Colorado legislature has just passed a new bill radically changing the meaning of...
With rent prices skyrocketing not just in the Denver metropolitan area but throughout Colorado, rent control is back in the legislature with big changes for property owners, prospective purchasers, and tenants. The current focus is on mobile home parks with sweeping...
Housing affordability top priority for Colorado legislature, will they tax nightly rentals as commercial properties? “My No. 1 priority this session is to bring down the cost of living in Colorado,” House Speaker Alec Garnett, a Denver Democrat, said in his opening...
What a few weeks it has been. The stock markets have been up, then down. Interest rates have also spiked only to fall shortly thereafter. I’ve been asked by several realtors in various ski towns, what is the impact of Ukraine and real estate prices in Colorado. ...
