The legislature passed a little known bill to allow property owners to defer their property taxes above 4% increase starting in 2023. To get the message out, they sent out the flier above that I received this week. On the surface, this sounds like an amazing plan. ...
A federal judge has effectively frozen a legal battle over Summit County’s short-term rental regulations — at least temporarily — after county officials filed a motion to dismiss a lawsuit brought by area homeowners. One of the claims of homeowners is that the new...
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...
Nobody is talking about the impending storm coming for Colorado property owners. Even with fixed rate mortgages, payments are set to skyrocket next year. What will cause everyone’s payments to jump in 2024 on top of large increases already for 2023 (hint, look at...
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...
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...
For the past 15 years or so, my “mushroom theory” was an amazing tool (no I’m not talking about the magic mushrooms that were approved by voters). Up until Covid the mushroom theory worked like a charm to predict price appreciation in cities like Denver, but recently...
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...
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? ...
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...
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...
Last year Denver passed an “affordable housing program” that requires multifamily developments to pay linkage fees and/or reserve a percentage of units for low income housing. What has happened to apartment construction since passage? Were my original predictions...
There is a condo complex in Steamboat Springs, CO where units have precipitously dropped in value overnight while owners cannot sell, refinance, rent, or in many cases use the units. The units themselves are fine, but there is one huge problem. What happened in...
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...
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...
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...
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...
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...
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 real estate? What...
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...
