Aspen hard money loans and the Aspen market: snow years, building codes, short-term rental taxes and mountain-town tax revenue.
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...
Colorado is having a tough year. Snowfall was down nearly 60% over the holidays, resulting in only about 11% of skiable terrain being opened in December and skier visits are down 20%. Vail resorts, the largest ski operator, is getting hit hard as seen in the stock...
Colorado is having a tough year. Snowfall was down nearly 60% over the holidays, resulting in only about 11% of skiable terrain being opened in December and skier visits are down 20%. Vail resorts, the largest ski operator, is getting hit hard as seen in the stock...
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? ...
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...
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...
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...
Depending on the Colorado ski town, cash transactions make up between 30-75% of all closed transactions. With this many cash transactions, what do rising interest rates mean for sales in the various ski towns. Will there be a slow down in ski real...
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...
If you’ve been reading the news, it seems to be everywhere, complaints against vail resorts are plastered all over the media. With Vail the largest owner of resorts in Colorado and the United States will this derail the real estate party in ski towns or is there...
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...
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...
In times of economic uncertainty, high net worth individuals focus on safety. From Government securities like 10 year treasuries, to municipal bonds, and gold. There is another trend emerging that Colorado real estate is being placed in the “safe haven” category. ...
Travel Crested Butte put up a social media post last weekend that messaged Crested Butte was not all sunshine and rainbows. “As beautiful and breathtaking as Crested Butte is, the community you love to visit is hurting,” This is not your typical warm and fuzzy...
Do residential rental properties with one to four units and second-home mortgages carry more risk? Apparently so says the U.S. Treasury Department. Such loans underwritten by Fannie Mae and Freddie Mac will end up costing you more under restrictions quietly announced...
With interest rates hitting historic lows, why will property owners in Colorado ski towns from Steamboat to Telluride get much higher interest rates than Denver? (Do you know where I took this pic?) Why will locals in the resort communities get hit hardest? What...
Do you know where I took this picture in Colorado? I wrote back in June about big changes coming to Colorado's resort communities. What has happened since June? Were the predictions accurate? Where does ski real estate go from here? The great urban exodus is...
Happy summer to everyone, it sure doesn't feel that way in the mountains with a dusting of fresh snow on the peaks this week. Do you know what pass this is? There are some big changes coming down the pipe not just for the weather but in Colorado ski real estate. From...
2020 is shaping up to be an interesting year in the ski industry. The ski industry was abruptly cut short in April with Vail resorts losing 200m and Alterra getting sued for closing early. What does this mean for ski real estate? Where should you invest now based on...
As we all know, the ski season was abruptly cut short on one of the busiest days of the year due to the Colorado Governors orders to prevent the spread of the Coronavirus. It was bound to happen, a California skier filed suit against Alterra alleging breach of...
We are still Lending! Do you know where I took this picture? It is amazing how quickly fortunes have changed, less than a month ago Vail resorts stock peaked, yet over the course of a few weeks
Do you know where I took the picture above? (e-mail me if you know, the mountains should provide a hint :). Ski magazine came out with their annual list of top ski destinations. Colorado took the crown with 5 of the top 10 ski destinations which accounted for almost...
Lending Tree ranked the 50 most expensive towns in the US by looking at home values and median income to determine affordability. My top three choices in Colorado for least affordable markets would be: Aspen, Telluride, and Vail; not one was on the list! Who made...
The Hamptons have increased inventory by 82% to the highest level in 12 years. At the same time sales fell 35% last quarter to their lowest since 2009 (Bloomberg). In Aspen, another ultra-high-end market, sales are down 27% on single family homes from 1.2B...
