With much fanfare, CO legislators met in a special session to focus on tax relief once again after the searing defeat of HH. As suspected, the agenda was filled with allot of stuff not related to property taxes (Tabor checks, low income tax credits,...
I wrote last week about proposition HH to eliminate Tabor under the guise of property tax relief. It is a bit ironic that it was just announced that there is a new property tax initiative that qualified for the 2024 ballot, initiative 50. The new initiative would...
The good times continue to roll on. Inventory is down and prices are stabilizing and still increasing in some markets. When will there be a reset in Colorado real estate prices. What happens when this cycle ends? Are there opportunities currently? Where will new...
Regardless of all the talk of a recession, soft landing, or something in between. Many Colorado mountain towns continue to see record tax sales revenue. How is this happening while domestic tourism is pulling back? What does this mean for the upcoming ski season? ...
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 the...
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...
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...
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 bill...
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. ...
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 proposal? ...
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,...
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 are...
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 does this...
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...
There is yet another proposal in the statehouse on affordable housing. This new bill would allow governments the first right of refusal on basically any multifamily property. On the surface, the new proposal sounds innocuous, but the devil is always in the...
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...
There is a condo complex in Steamboat where units have precipitously dropped in value while owners cannot sell, refinance, or in many cases use the units. The units themselves are fine, but there is one huge problem. What happened in Steamboat? Why is this a...
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...
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...
