“Boulder County’s home prices are stuck in the snow and the wheels are spinning,” Boulder-area Realtor Kelly Moye stated in a Colorado Association of Realtors news release. “It’s like someone just held it in time and nothing changed. I think it’s a trend we are going to see continue, too.” “Wages aren’t keeping up with home prices in Boulder, so...
Contact: Marty Schechter for CAR 303-882-4585 cell marty@schechterpr.com ENGLEWOOD, CO. – Dec. 11, 2019 – With a 30 percent dip in new listings statewide between October and November, the low inventory story continues to drive nearly every market across the state, according to the latest monthly market data from the Colorado Association of REALTORS® (CAR). The months’ supply of inventory for both single-family...
Colorado REALTOR Matthew Leprino recently spoke with the Colorado Sun regarding the state's continued growth and its effects on housing costs. He said there's still not enough housing for everyone moving to Colorado, which continues to cause prices to rise. “Boulder just got so expensive, especially due to the limit-growth initiatives that they have there. But now Broomfield is seeing...
Wide range of local ingredients are flavoring housing markets across the metro area and state Contact: Marty Schechter for CAR 303-882-4585 cell marty@schechterpr.com ENGLEWOOD, CO. – Nov. 12, 2019 – The anticipated seasonal slowdown in the housing market’s new listings has been met with strong pending/under contract numbers creating 13-20 percent declines in the inventory of active listings across the Denver-metro area and statewide,...
You could say that iBuyers and their effect on the real estate industry is this year's hot topic. A panel comprised of industry experts discussed the iBuyer phenomenon at this month’s Fall Forum in Beaver Creek, CO, and offered insight into ways REALTORS® can survive in an ever increasingly competitive industry. Brandon Wells, President of The Group, Inc., explained that REAL-TORS®...
by Scott Peterson, CAR General Counsel In the July issue of the Colorado REALTOR® magazine, I wrote “Be Afraid! Your Misuse of the Transaction Brokerage Relationship” describing some of the changes that were being proposed to the Colorado Real Estate Commission rules regarding brokerage relationships. At its August 5, 2019 meeting, the Real Estate Commission did, in fact, adopt the...
CAR Vice President of Government Affairs Elizabeth Peetz and Government Affairs Manager Bridget Garcia authored an article for the November 2019 issue of Colorado Lawyer in which they discuss how states, including Colorado, are addressing the challenges of affordable housing. As Peetz and Garcia note, states have used a variety of innovative funding sources for affordable housing, which include: Marijuana revenue: the...
“September 2019 was another strong month for the Colorado Springs-area housing market for single-family/patio homes,” Colorado Springs REALTOR Jay Gupta said. " “Our average sales price was $368,430, with the median sales price of $325,500, and a 1.5-month supply of inventory,” Gupta said. “Since buyers generally purchase properties offering competitive values, 42 percent of El Paso and 31 percent...
Kelly Moye, a Broomfield-based RE/MAX Alliance Realtor and former president of the Boulder Area Realtor Association, told the Boulder Daily Camera, “It’s staying really steady. There are no huge dips or increases in home prices.” Only when prices go down more than 3% do people begin to take notice, Moye said. Sellers received almost 99% of the listed price for...
On Oct. 15, new rules will go into effect that will reduce regulatory barriers, making purchasing a condo in more expensive markets a bit easier. For example, the new rule will allow certain individual condominium units to be eligible for FHA mortgage insurance even if the condominium project is not FHA approved. (The condo unit needs to be in a...