Colorado Association of REALTORS | REALTOR News
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REALTOR News

CAR Remembers Past President Janet Scavo

Our REALTOR® family has suffered a great loss with the passing of Janet Scavo on April 28, 2022. She was a ground-breaking leader in the real estate industry and association. She served as CAR’s first woman President in 1984 and was Colorado’s first delegate to receive NAR’s Distinguished Service Award, which is the ultimate recognition for the dedicated REALTOR® who has always set themselves apart...

Interest Rates Are Slowing Down the Market

Mortgage rates are over 5%, and the federal interest rate hikes are doing what they were intended to do, according to CAR Spokesperson Kelley Moye. “Interest rate increases are slowing everything down.” She says that double-digit price hikes are a thing of the past: “We won’t see another 20% price increase like we did last year. We’re seeing fewer showings on the weekend, we’re seeing...

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Capitol Connection – April 26, 2022

Legislative Advocacy this Week at the State Capitol Breaking news on HB-1287 Mobile Home Park Legislation (Rent Control) Late last Friday evening, the state House, during their second reading on the House Floor, an amendment was added to the bill that removed rent control from the legislation. CAR, in earlier committee testimony submitted to the legislature, advocated removing this section. The amendment improves the legislation by removing...

FORT COLLINS, CO, USA - MAY 20, 2016: Aerial view of typical residential neighborhood along Front Range of Rocky Mountains in Colorado in springtime

ADU’s In Practice & Purpose

Both property owners and renters are beginning to see the benefits of Accessory Dwelling Units (ADU’s) in Denver. The cost to build the units depends on whether they are renovated from a stand-along garage or built from the ground up and is anywhere from $110,000-$250,000. Property owners receive anywhere from $1,500-$2,000 per month in rent and appreciate the convenience of being able to make quick...

A Tale of Two Home Markets: Rural Resort and Suburbs

Resort community home prices are experiencing record highs while some suburban markets have seen the likes of huge price increases before. In Durango in La Plata County, the average sales price of a home was $1.1 million in March. Townhomes and condos sold for an average of $531,000. “The general consensus from locals is that Durango is morphing into a true resort town, and the...

REALTORS® Give Homeowners Tips for Buying in a Wild Market

Since Denver homes were only on the market for about eight days in March, which was down from 16 homes the year before, CAR Spokesperson Kelly Moye offered tips to those trying to buy a home. Finding an experienced REALTOR® was her first piece of advice; followed by making earnest money nonrefundable; spending 20% over the asking price and allowing for that amount in the...

Hikes in Colo. Springs More About Home Prices Than Exercise & Views

Prices for single-family homes in Colorado Springs rose 17.1% from 2021, and the days listed on the market decreased by 7.7% from March last year. CAR Spokesperson Patrick Muldoon said “Low inventory and high demand were going to continue to cause the same hikes we had seen. As the snowy season came to an end and spring was nearing, there was almost nothing that could...

Pueblo Still Seeing Gains in Prices & Home Building Materials

The 279 homes sold in Pueblo in March made for an extra $89 million in profits for sellers, and interest rate increases have not had a huge impact on sales. Sales prices were up 24% over last year and there’s not much change on the horizon, said Dave Anderson, a CAR Spokesperson. “Lumber prices are coming down only a hair, supply chain issues continue, and...