Many ideas await the recommendations from legislators on how to spend $400 million of COVID-relief money on how to make housing more accessible to more people. “We’re all saying it: This is a once-in-a-lifetime chance to make investments in housing that we would never as a state be able to make in our own,” said Cathy Alderman, chief communications and policy officer for the Colorado...
New Coloradoans and the state’s stay-at-home orders during the pandemic have combined to form an unprecedented amount of growth in home values and scarcity in 2021, according to CAR’s 2021 Year-End Market Trends Report. The overall median single-family home price across Colorado went up 32% between 2019 and 2021. “In 2019, we were starting to see a plateau in the real estate market with appreciation...
For homeowners affected by the Marshall fire, the time between the disaster and receiving much-needed federal and insurance dollars is uncertain. “it’s the hardest, darkest period that these victims have to walk through,” said CAR Foundation Executive Director Amy McDermott. “Our hope is that this funding can bridge that gap.” The Foundation has received over $2 million to give to homeowners during this time, and...
Recent home listings in the Marshall Fire Burn areas are still selling over the asking price in a short time. There were 17 homes under contract that sold within two days of being on the market. The language in the listings reads differently than it did two months ago. “Instead of the remarks saying, ‘Great house, open space, and views,...
The Colorado Association of REALTORS® announced their participation in the Coloradans for Energy Access, which is a coalition to support the use of affordable, cleaner-burning natural gas in homes and businesses. Colorado is considering prohibiting consumers from using natural gas use and opting for electricity, which is considered environmentally friendly. CAR CEO Tyrone Adams joins other business leaders in advocating...
Despite the historic jump in prices seen in 2021, the dizzying pace at which homes are selling for over the asking price with multiple offers in a short time frame could lessen if the interest rates go up. “An uptick is probably good for the market to quell rampant appreciation," said CAR spokesperson Chris Hardy. "But for some folks it...
More than 3,000 people have joined the Facebook page, Marshall Fire Housing Needs and Availability, created by REALTORS® Susan Schliep and Amanda DiVito Parle. Schliep got the idea while driving home and remembering what her parents experienced after losing their home in Grand County’s East Troublesome fire in Oct. 2020. “Fourteen months after the East Troublesome and only two homeowners have rebuilt. And they got after...
Colorado Springs REALTOR® Eddie Hurt remembers his home being destroyed in the 2012 Waldo Canyon: “In 2012, Colorado Springs home prices had been declining but leveled off by 2012 so that helped folks have sufficient insurance coverage,” he recalled. Fast-forward to 2022, and real estate in both the Colorado Spring and Boulder areas have seen home prices increase by about...
In addition to the historic low inventory in housing in Colorado, homeowners affected by the fire cannot rebuild quickly enough. “It’s going to take forever,” said Kelly Moye, CAR spokesperson and Boulder REALTOR®. A home in the Denver metro area that once took 5 months to build now takes 10 months. In what the Associated Press is calling “Pandemic-era challenges,” the obstacles to rebuilding include labor...
Three different Colorado REALTORS® are featured in NAR’s “First-Time Buyer” which is streamed on Hulu. The show, an NAR-produced program in its second season, showcases the obstacles first-time homebuyers face with the guidance, expertise, and confidence provided by their REALTOR®. The REALTORS® in the episodes dealt with taking their first-time homebuyers through multiple offers; newer vs. old builds; and helping a family with a pig...