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...
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...
