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...
As we all know, the public’s increased time at home led people to buy homes or more square footage, according to a study by economists at the Federal Reserve Bank of Kansas City. Even after the pandemic, people are spending 5% more time at home, “which correlates with a nearly 4% increase in home prices found in most of the...
The Aspen Board of REALTORS® (ABOR) has filed suit against the City of Aspen and each member of the Aspen City Council in response to an Aspen City Council emergency ordinance adopted on December 8 that put a hold on residential development and short-term rental licenses. ABOR’s complaint argues that the City Council did not follow due process and deprived public involvement, violating Aspen’s home-rule charter...
CAR Family – Although the Marshall and Middle Fork fires continue to burn across Boulder County and the surrounding communities, our leadership team has been working with local association leaders and your CAR Foundation to take some initial steps in support of the thousands of wildfire victims. Beginning immediately, you can make financial contributions to the CAR Foundation using the link below. This is...
Urban areas of Denver and Aurora are getting creative in funding and finding affordable housing. Denver’s City Council approved a rezoning effort along East Colfax to allow for Accessory Dwelling Units “ADU”, sometimes called, “Granny Flats.” This rezoning change allows property owners to use their garages, attics, or even new builds to rent, without having to seek the city’s permission first. East Colfax now has...