Zillow announced it would stop buying homes directly from sellers and then selling them at an increased rate. The company could not effectively compete in Colorado‘s hot real estate market because it couldn’t find property, renovate and resell the homes fast enough. The program has been discontinued nationally as well. “When you’re not able to buy low and sell high, because our market is doing...
Since Zillow Offers, the internet giant’s direct buying service, has left the Denver real estate market, home buyers and sellers don’t have much reason to celebrate. Home inventory, no matter who the player is, is low. “Any added inventory and new listings in the market would be greatly appreciated and good to have,” Andrew Abrams from DMAR said. CAR spokesman...
Developer Jon Roberts once built market-rate homes families could afford at light-rail stops in Denver. Attainable, dense housing is one fix to the affordable housing crisis, and Roberts was happy to do his part. He’s shifted his focus to $1 million houses and duplexes — and he’s not thrilled about the reasons why: Building affordable housing is too risky, too slow and too mired in bureaucracy. “I...
A Realtor.com 2020 survey found that 13 percent of Americans believe their house is haunted, troubled by strange noises, shadows, cold spots, eerie feelings, and moving items. Roughly half of them knew or suspected as much before hauling in their boxes and have no plans to move. Most prefer to avoid the situation: 2/3rds of respondents said they were unlikely to move into a house...
A study shows that record-breaking listings prices and low inventory aren’t just happening in the Denver metro area, and in fact, the opposite is true: Resort towns and other larger Colorado cities are showing the same if not more price gains. This includes cities like Colorado Springs, Pueblo, and cities in Mesa County and the Western Slope. Headwaters Economics, a research firm from Montana, conducted...
“While quarantine-limited interaction and the return to ‘normal’ seems to be looming, the stigma of attached living appears, at least for now, to no longer be affected by worry and fear,” Denver-area REALTOR® Matthew Leprino reported in CAR’s monthly Market Trends report. CAR sends this monthly analysis to Colorado news outlets. Townhomes and condos are selling for an average sales price of...
Homeowners in Summit County can apply for money relating to wildfire mitigation expenses on their property. Summit REALTORS® and the Colorado Association of REALTORS® are offering to help homeowners cover the costs of tree and shrub removal in order to meet defensible space guidelines as defined by local fire districts. Grantees could have the work done this fall or wait until spring. The grant program’s goals...
The Telluride Association of REALTORS® (TAR) is celebrating its 20th year of providing grants to residents so they can afford to buy a home in their own town. There are 155 TAR REALTORS® who are currently giving to the First Time Homebuyers Assistance Fund. Over the past two decades, TAR has disbursed $737,467, or about $3,000 per month. Tracy Boyce, a contributing REALTOR® says, “I...
Freddie Mac released research supporting the appraisal gap and focus areas for possible solutions. After evaluating 12 million appraisals for single-family home transactions from 2015-2020, Freddie Mac found that 13 percent of properties in black and Latino census tracts received lower appraisal values, compared to 7.4 percent in white tracts. Freddie Mac will look at possible answers to this...
Boulder is one of the three most popular college towns for young adults to buy a home. Although the median sale price in the city is $1 million, Boulder ranked third. Only Champaign, Ill., ($180,000 median price) and Burlington, Vt., ($415,00 median price) are more popular. Economic stability, a low-key lifestyle, and affordability were cited as reasons why people choose...