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 adjust the value...
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 winds are...
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 majority...
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 approved...
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 price. ...
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 and prices,...
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...
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 troublesome of...
A local HVAC contractor said of the new code “This is like a really obese person drinking a 12-pack of Diet Coke and feeling good about themselves.” What is in Aspen’s new building code proposal? What impact will this have on new construction, property values, and...
State lawmakers are preparing to introduce a bill in the legislature that would create a state sponsored governmental program offering basic home insurance to the growing number of Colorado homeowners who say they can’t get coverage from private companies because the...
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 Colorado...
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 leading to higher...
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 tango over the...
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...
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 why is it so...
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 and other...
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...
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...
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...
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...
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...
