Prospective homebuyers who keep losing out on homes because of a lack of a cash offer could have a new option. The concept is called shared appreciation, where some companies are offering to put a cash offer in for a homebuyer if they cannot, and then get paid back later. The company will typically place the cash offer for the buyer after signing the...
While more than 65% of Americans owned a home in 2021—the highest amount ever—the black community’s rate of homeownership was only 43% nationally, down 1% from last year. This and other data were covered in NAR’s latest Snapshot of Race and Home Buying in America Report. “As the gap in homeownership rates for Black and White Americans has widened, it is important to understand the...
Although the cost of a single-family home in El Paso County has almost doubled since 2016, according to the January CAR Market Trends report, the state demographer Elizabeth Garner says we lost some of Colorado’s population in 2020. Garner says to look at building more homes. “How do we bring in more housing at that affordable level? And it is not just affordable, it's like...
Legislative Advocacy this Week at the State Capitol CAR is Working to Improve State Legislation HB22-1007: Assistance Landowner Mitigation. The Colorado Association of REALTORS (CAR) is now in SUPPORT position after we received specific amendments to make the bill better by continuing the wildfire tax credit for individual landowners as an important part of the multi-pronged solution to address wildfire mitigation...
The Wildfire Matters Review Committee brought three House Bills to the house. HB 1007 ends a tax deduction for property owners that offsets wildfire mitigation expenses. The deduction is replaced with an income tax credit beginning in 2023, which would be available to landowners with a taxable annual income of less than $120,000. Elizabeth Peetz, Vice President of CAR’s Government Affairs, stated the cap “removes the...
Getting involved as a CAR Officer or as a member of a Committee or Chair Advisory Group has great privileges and benefits. 1) more exposure for yourself and your firm; 2) connections with people outside of your market; 3) leadership skills that will improve your business; 4) local board representation at the state level; 5) contributions to the decision-making process;...
Several Denver Metro-area real estate experts in reporting that $1 million is no longer the price point for a luxury home. To live in luxury in Denver, buyers should plan to pay between $1.5 to $2 million or more, and likely on the higher end of that range. “It’s less and less likely that buyers can get the luxury home they pictured by paying...
NAR recently announced the following MLS policy change implementation deadlines have been extended to September 2022: 1) one data source and 2) enhancements to listing broker attribution with an email or phone number. All other MLS policy changes will need to be implemented by March 1, 2022. For more details, go to https://www.nar.realtor/about-nar/policies/summary-of-2022-mls-changes ...
Legislative Advocacy this Week at the State Capitol CAR's GA Division and LPC Work on Housing and Wildfire Mitigation Bills This week, CAR, at the direction of the Legislative Policy Committee (LPC), worked to clarify and improve bills at the Capitol and worked with executive agencies to mitigate current process issues in court practices under previous legislation passed in 2021. Senate Bill 22-019 is a bill...
“There are plenty of thought-provoking choices to make in life--more so when you take a glance at predictions and numbers that can relate back to your or your client’s livelihoods,” said Estes Park REALTOR® and CAR Spokesperson Abbey Pontius. In Estes Park, the average sales price of a single-family home is $583,367, and townhomes and condos are at $393,000. “This amount of money will have...