Changes in the tax code could have pricey implications for homeowners if the GOP Tax Proposal passes. Cuts elsewhere are causing Congress to find other ways to make up the money. One area they are looking to make up the money is taxes associated with real estate. Currently, homeowners are encouraged to stay in their home for two years and are...
Market playing out low inventory, high demand theme. While the median price of a Colorado home remained flat in December 2016 at $315,000, buyers and sellers experienced a 10 percent increase in the median sales price over the course of the year, according to the latest statewide housing report from the Colorado Association of REALTORS® (CAR). With a median sales price...
WASHINGTON (December 14, 2016) — Existing-home sales are forecast to muster only a small gain in 2017 because of increasing mortgage rates and shrinking consumer confidence that now is a good time to buy a home, according to new consumer survey findings and a 2017 housing forecast update from the National Association of Realtors®. In NAR's fourth quarter Housing Opportunities and Market Experience (HOME) survey 1,...
Cybercriminals are targeting home buyers and sellers nationwide. DORA offers tips on how to protect yourself. DENVER --- The Colorado Division of Real Estate at the Department of Regulatory Agencies (DORA) warns Colorado consumers to beware of a national cyber-scam currently taking place that steals money directly from home buyers and sellers. The Division continues to receive information about this cyber scam in which cybercriminals hack...
Despite typical seasonal and market factors, strong demand and record low inventory keep median sales prices for single-family homes flat while condo/townhouse prices reach a new high. While temperatures across Colorado remained more summer-like than fall throughout November, traditional seasonal real estate market slowdowns were met head-on by strong consumer demand and a continued shortage of inventory, according to the latest...
Single family and townhouse/condo listings down more than 30 percent since July peak. While the median sales price for single-family homes and townhouse/condominium units between September and October 2016 remained relatively flat, $337,000 and $252,000 respectively, a shrinking inventory of active listings across the state continues to play a significant role in the overall housing market, according to the latest statewide...
Median sales price for Colorado’s single-family homes dips for second time in three months while condominium/townhouse prices increase. The median sales price of a single-family home in Colorado has dropped for the second time in the past three months to $336,700. The one percent dip comes on the heels of a flat August and a nearly 3 percent dip reflected in...
(This is the second part of a two-part series on Colorado’s unique marijuana laws and their impact on real estate, property rights and the business of REALTORS®. In the November issue, I covered the uncertain status of Colorado’s state marijuana laws in relation to federal drug law and the implications on property ownership. In Part Two below, I will address...
A recent article by the Denver Business Journal found that Denver ranks second of the highest paying cities for real estate sales agents. At an average pay (2014 data) of $80,910 per year, Denver came in second only to Indianapolis, with an average pay (2014 data) of $99.540. The data comes from an analysis by The Business Journals of the latest...
At the most recent Colorado Real Estate Commission meeting held on June 3, 2014, the Commission adopted Commission Position CP-44 regarding advertising properties as "coming soon" to the market. CP-44 outlines a broker's obligation to exercise reasonable skill and care when advising a seller or landlord of the advantages or disadvantages of different marketing methods. Further, the manner in which the...