Tell Our Legislators Not to Kill Gaylord Rockies The Colorado Association of REALTORS® is asking you to OPPOSE Senate Bill 284. The late bill purports to address a so-called "loophole" in the use of urban renewal and tax increment financing on agricultural land for economic development projects but it is drafted solely to insulate a small group of hoteliers from perceived...
Unfortunately, after a long hearing, SB177 was defeated in the House State Affairs Committee, aka the kill committee, on a party line vote with the Democrats voting no and the Republicans voting yes. We would like to thank our House sponsors – Rep. Singer and Rep. DelGrosso and our Senate sponsors – Sen. Scheffel and Sen. Ulibarri. Thanks to each of...
Senate Bill 177- Construction Defects Reform PASSED the Senate SB15-177, HOA Construction Defect Lawsuit Approval Timelines, passed the Senate on 3rd reading this week with bipartisan support on a vote of 24-11. We are expecting it to be introduced in the House in the coming days. Please click here to urge your State Representatives to allow SB 177 a Fair Hearing in...
Tell your legislators to Support SB177! Urge your State Legislators to SUPPORT SENATE BILL 177—Fix the Defect in Colorado’s Construction Law A big hurdle to building more entry-level housing is a defect in state law that exposes homebuilders and homeowners to a high risk of expensive, time-consuming litigation. It is referred to as the construction defects law. It has created a climate...
REALTOR® Day was a success! Thank you so much to everyone who attended REALTOR® Day at the Capitol this past Tuesday. We had over 200 attendees from across the state, and had a very successful day speaking with our legislators. We'd like to thank special guest US Senator Cory Gardner for being our speaker. We would also like to extend...
Construction is once again revving up across Colorado. This should be a welcomed sight for Colorado’s economy, for REALTORS® and part of the answer to our states low affordable housing inventory. Unfortunately this is not the case. The condo market continues to lag due to construction defects, subsequent litigation and extraordinarily high insurance premiums that make it less appealing to...
Colorado’s housing market is booming. Affordably priced homes are receiving multiple offers over asking price within hours of being listed. Why, then, are there no new builds of affordably priced condominiums and townhomes? CONSTRUCTION DEFECTS. Builders and developers have been scared away from developing in Colorado due to the current construction defects laws. Homebuilders and homeowners have a high risk of expensive,...
Tell Congress: Don’t Tax “Phantom Income” on Short Sales. Congress has begun its “Lame Duck” session with a big list of unfinished business items. Number one on that list for REALTORS® is an extension of “The Mortgage Forgiveness Tax Relief Act.” This bipartisan legislation would extend an expired provision that has helped millions of distressed American families by allowing tax relief for homeowners...
As a Commercial Real Estate Practitioner you understand how the market can be adversely affected by uncertainty. That is why NAR is asking for your help to extend the Terrorism Risk Insurance Program created following the September 11, 2001 terrorist attacks. When private insurers withdrew from the terrorism insurance market, construction projects ground to a halt and commercial property values...
In September 2013, the Wildfire Insurance and Forest Health Task Force issued an 80 page report to Governor Hickenlooper outlining concerns and recommendations regarding how to best protect citizens who live in the Wildland-Urban Interface (WUI), and protect Colorado’s landscape, which is a critical element of the State’s economic health. Their findings also brought to light related issues of water...