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 comfortable...
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...
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 rapidly increasing markets, everyone is an expert! Unfortunately, the real estate investments market is transitioning and there will be winners and losers. Everyone always touts location, location, location to pick winning properties/areas? Is...
Spring has come in with a roar in the Denver metropolitan area as inventory from February to March jumped 81%. What has caused the huge jump in inventory? What does the change in inventory mean for prices? How will Denver real estate perform compared...
About two out of every three homes in America are underinsured. The average underinsurance amount is about 22%, though some homes are underinsured by 60% or more. We saw this firsthand with the Marshall fire and pretty much every natural disaster in Colorado. ...
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...
Housing affordability top priority for Colorado legislature, will they tax nightly rentals as commercial properties? “My No. 1 priority this session is to bring down the cost of living in Colorado,” House Speaker Alec Garnett, a Denver Democrat, said in his opening...
Colorado has always been a bit unique on who can access rivers and where. There is a recent case ruling that drastically upends the status quo and could radically alter private property rights. If you own a property or have a lease on a property that has live...
ATTOM, curator of the nation’s premier property database, today released its fourth-quarter 2021 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to damage from the ongoing Coronavirus...
Welcome to tax time in Colorado. Property tax bills are being mailed out and you are sure to be in for a shock. I just looked at my bill and my tax bill went up 20% from last year! I’ve seen throughout the front range and various mountain...
Vail, the largest owner of ski resorts not only throughout the world but also in Colorado, has dropped 22% while other hospitality stocks have been rising at double digit rates. Why is Vail stock dropping so much? What impact will this have on ski real...
I’m constantly asked: “what is the best place to buy ski real estate in Colorado”. What are the key drivers of “value” for ski real estate? I think most people would agree that we are somewhere near a peak in real estate for this cycle, so it is important to answer...
There are two big laws coming into effect 1/1/2021 that will drastically alter Colorado’s Landlord tenant laws. HB21.1121 and SB21.173. Each have large changes in what a landlord can or cannot do and defenses a tenant can easily make to not pay rent. Are you ready...
Wow, 2021 has been quite the year in real estate. Statewide, the median home price is now $532,000, up 18.5% from last year. In Summit County (home to Breckenridge, Keystone, etc..) the median home is now 1.6m up almost 30% from last year. Where does Colorado real...
In an emergency ordinance, Aspen city council unanimously implemented radical changes to any new construction, remodeling, and expansion of a property. Furthermore, the ordinance halted all new nightly rental permits. Why did the city implement this emergency...
If you looked at almost any mainstream media, each predicted a surge in eviction filings and pleaded with Governor Polis to halt any evictions. There were “studies” saying that 450k evictions would take place. Fortunately the “studies” missed the mark by a factor of...
According to a recent Redfin study, investors purchased almost 17% of all houses in metro Denver, up from 9% a year ago. “Investors are expecting rents to increase in the coming years,” said Redfin Chief Economist Daryl Fairweather. What does this mean for real...
I’m constantly amazed at Colorado ski real estate. Many markets are up almost 40% in the last two years alone with sales continuing to exceed. On the other hand, Denver and the front range real estate markets are starting to feel a pronounced slow down. What...
First, happy belated Halloween. For all the parents out there that think they have the best costume, try topping this one that I saw while trick or treating. A real horse in costume cruising the streets 🙂 This will be tough to beat! On to the blog. What does...
