Construction Defects Legislation Introduced
SB14-220, Concerning prerequisites to the authority of a unit owners’ association to pursue resolution of disputes involving construction defects, was introduced on Wednesday night. The bill has been assigned to the Senate State, Veterans, and Military Affairs Committee, as well as the Senate Judiciary Committee. We are thankful to those of you who have submitted testimonials so far,...
As of May 1, 2014, all buyers of older properties (“pre-FIRM”) will see a premium rate reduction under the Homeowner Flood Insurance Affordability Act of 2014.
Instead of jumping to “full cost” for flood insurance, buyers will assume the seller’s Oct-2013 rate for a pre-FIRM property.
NAR prevailed upon FEMA to implement this provision seven months early. FEMA also extended the rate relief...
HB 1373 Senior and Disabled Veteran Property Tax Exemption
LPC voted to SUPPORT HB 14-1373, Concerning individuals who may claim the property tax exemption for qualifying seniors and disabled veterans. This bill modifies the state's Homestead Exemption to extend its benefits to certain individuals who are not eligible under current law. Specifically, the bill permits the following owners of residential property...
Five Colorado REALTORS® will be inducted into the NAR RPAC Hall of Fame in May during the 2014 REALTOR® Party Convention and Trade Expo. They will be honored for their commitment to RPAC and their investment of over $25,000 during their career as REALTORS®.
Kit Cowperthwaite
A former lawyer, Kit left a long-time practice in 1993 to begin a full-time career as a REALTOR®. He quickly became involved, serving...
Efforts to simplify the nation’s tax code sounds like a simple enough idea. It sounds like good news until you read through Michigan Congressman Dave Camp’s Tax Plan and see that the proposed ideas will hit homeowners the hardest.
The proposals behind the Tax Reform Act of 2014 promises to provide a big financial blow to first-time home buyers, homeowners who have seen large gains in...
Most areas of Colorado saw an increase in housing inventory (properties available for purchase) during the first quarter of 2014 compared to the previous quarter (Q4 2013). New listings increased 35 percent statewide from Q4 2013 to Q1 2014 and 5 percent compared to Q1 2013. At the same time, overall sales slowed down 19 percent in Q1 2014 compared...
HB 1136 Signed by the Governor
CAR initiated HB 14-1136, which effectively provides a state licensing agency, such as the Real Estate Commission, the authority to approve education programs from providers of CE toward its licensees without an additional layer of approval from the Department of Higher Education. The legislation also removes the restriction of membership among trade associations offering education...
Seller Financing
The Colorado Board of Mortgage Loan Originators (the “Board”) and the Colorado Real Estate Commission (the “Commission”) are issuing this bulletin to clarify some of the issues that have been circulating about seller-financed residential real estate transactions. The Commission has heard concerns from the real estate broker community that there is a lack of clarity as to whether seller-financed...
The Colorado Association REALTORS® 2014 Spring Business meetings took place earlier this month. There were lively discussions about data syndication and third party aggregators and member volunteers discussing how to best advance your state REALTOR® association. Your Board of Directors voted on many issues this meeting ranging from governance structure to policies and procedures to a 2015 dues increase.
Third Party Aggregators and Data Syndication
Members had the opportunity to share their feelings...
Just announced! All attendees who register for the 2014 CAR Convention will receive 3 additional tickets for the keynote event to be given to friends and family.
When registering for the 2014 CAR Convention (registration opened for attendees on April 8th), you will have the opportunity to enter 3 names as RSVP'd guests to hear Marcus Luttrell speak. This RSVP process...
