In my blog last week Is affordable housing causing the surge in ski town home prices? I asked the question what was the impact on affordable housing in relation to ski prices . I was pretty surprised at the resounding answer regarding affordable housing What...
Over the last 30 years I continue to hear about the “affordable housing crisis”. Do we really have an affordable housing crisis or a leadership crisis within the ski towns. A recent proposal in Steamboat pegs the build cost of one affordable housing unit over 1.7m....
Crested Butte, CO it the latest to propose a vacancy tax with one major shift, nightly rentals would be covered by the new tax along with second homeowners. Who knew that Colorado ski towns would be taking economic lessons from Portland Oregon,one of the worst...
Reading the headline, it sounds absolutely crazy to propose taxing businesses for creating jobs, but is this really a crazy idea? Is every job worth the same in Colorado? For example if someone builds a large hotel in Steamboat creating 15 jobs, should the developer...
As I predicted, we are starting to see some big changes in Colorado ski real estate. Even as prices in many markets throughout the country are staying flat, some Colorado ski real estate is still increasing while others are starting to correct. What is causing the...
I learned the hard way about investing in mountain towns. I successfully lost over 100k on my first ski investment property! Hindsight 20/20 I violated 1 of the 4 golden rules of investing in mountain property. I developed these 4 rules after evaluating thousands...
Having lived and worked in the Colorado mountains for almost 25 years I have witnessed first hand the radical transformation that has occurred in every single ski town. How have ski town demographics changed? Is the moose a harbinger for big changes in each mountain...
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...
10 years ago, nightly rentals were a novel concept, fast forward to 2024 and the number of nightly rentals has surged over 40% in the last 5 years. What does this huge increase in nightly rentals mean for real estate values? Has the real estate market gotten...
It has been quite the session with a ton of bills that have huge ramifications for property owners throughout Colorado. The proposals ranged from increasing taxes on nightly rentals, evictions protections, habitability, right of first refusal and various others. The...
Every time I open the news, I’m amazed at what is happening in the Colorado legislature. As a rental property owner, I cringe as it is becoming next to impossible to cost effectively operate a rental property. The new bill is titled “safe housing”. Who...
The original Colorado short term rental bill is still moving through the legislature but now there is a competing bill to also classify short term rentals as commercial properties but with a big twist from the first bill. The new bill proposes to try to tax...
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...
Although HH, the Colorado tax reduction initiative was ultimately defeated, there was one profound item in the legislation that will have far reaching impacts. One of the biggest changes in the proposal is that second homeowners (non-primary residents) are now paying...
Big changes in store for Colorado real estate in the upcoming legislature Colorado Governor Polis, in a recent interview, called short term rentals paying residential rates a “loophole” that he supports closing. “Residential properties that work like hotels...
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...
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...
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...
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...
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...
