Wow, 2022 has been quite the year in real estate. In Denver, the average home price peaked at $913,000, a whopping 52% increase from 2019. In Summit County (home to Breckenridge, Keystone, etc..) the average home is 1.2m up 116% since the pandemic. Even with higher...
What a run it has been the last several years with most Colorado ski resorts averaging 30-40% / year increases. Many resort areas are still up double digits for the year, but just like the seasons are beginning to change there is a cold bite to the air in...
It is amazing, they just called the last races in Colorado a few weeks ago and already there is a ballot initiative to increase taxes further. In the last cycle voters passed an affordable housing initiative and hot on its heals is a new statewide transfer tax...
I recently receive a Denver Metro Association of realtor’s newsletter touting: “People have been flocking to the Mile High City from more expensive cities in search of a cheaper cost of living and to work remotely in the Rocky Mountains. “ Is this...
It is a bit ironic (and confusing) as the company Vail resorts sues the city that its name originated from. The suit highlights a not so happy marriage or relationship or breakup of the two Vails. In a nutshell Vail resorts and Vail are having a legal...
It has been a crazy election cycle in Colorado with multiple initiatives impacting everything from alcohol, nightly rentals, income taxes, school lunches, magic mushrooms, etc… Some taxes were reduced, others were increased. What were the big Colorado initiatives...
Regardless of party affiliation, this has been a big voting season for Colorado real estate and there was a resounding message relayed at the polls. Voters in Steamboat Springs, Aspen, Dillon, Glenwood Springs, Carbondale, and Summit County all decided whether...
Voters in Steamboat Springs, Aspen, Dillon, Glenwood Springs, Carbondale, and Summit County will all decide whether to impose additional taxes, with at least part of those funds in each municipality going to support affordable housing. What are the new short term...
Colorado is an odd state, prior to a few years ago, 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. A trio of ballot proposals will radically alter...
The Summit Daily recently posted an article that Fall is a great time to hike a 14er. I took the pic below of a 13k foot peak the same week the article came out. Probably not a good time to attempt a peak ascent in the snow. The article on 14ers is eerily similar...
I was recently looking at a property in Colorado and looked up its Zestimate (above)… it is a miracle that the Zestimate suddenly increased 300% with no changes to the property. I’ll bet 900 million that the Zestimate is not accurate. Why did the Zestimate jump so...
Frisco had originally planned to offer a “locals” only license classification for short term rentals. A new ruling in Louisiana put these plans on hold and could jeopardize many other communities short term rental laws. What was in the ruling and...
Steamboat’s occupancy rate “supposedly” plummets 13% from last year, yet accommodation taxes are up an astonishing 48%. Why is it important to focus on occupancy and sales taxes? How accurate are either of these numbers? What does this mean for...
Don’t be surprised by the recent numbers. I mentioned months ago that many Canadian markets changed on a dime and the same would happen in major US cities. A recent Redfin report showed that Denver ranked second behind Boise in price drops amongst 97 cities. ...
The headline in the Summit Daily sound ominous: Summit County servers stung by lack of visitors with lowest occupancy rates since 2015. From the headlines it sounds like Breckenridge is in a free fall. Is it really? What is going on in Breckenridge...
Depending on the Colorado ski town, cash transactions make up between 30-75% of all closed transactions. With this many cash transactions, what do rising interest rates mean for sales in the various ski towns. Will there be a slow down in ski real...
The Denver Metro Association predicted “extreme bidding wars” will continue in their August Newsletter. At the same time the National Association of realtor’s chief economist said: “We’re witnessing a housing recession in terms of declining home sales and home...
A new Ballot proposal, 108, will be voted on in November to “divert to” (aka give) the state of Colorado an additional 270 million dollars of taxpayer’s money for affordable housing. What is in the new proposal? How effective will a statewide fund be? What can we...
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...
