We Need Your Construction Defects Stories
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 build affordable condos.
The Colorado Association of REALTORS® Legislative Policy Committee (LPC) is looking for your construction defect stories. We may use these scenarios to help explain the need for this construction defect reform legislation and the impacts that it would have on affordable housing in Colorado.
Specifically, if you have buying clients that have either had transactions disrupted because they could not obtain financing due to construction defects litigation, or clients unable to refinance due to the same, the legislature needs to hear about these scenarios. Alternatively, we would also like to know if your selling clients have had buyers that could not obtain financing due to the same. Stories that illustrate the our condo supply problem and the related difficulty for buyers to find affordable for-sale condos, especially in their desired locations – possibly near transit or their place of work – are also important to share with the legislature.
Please email your stories to GovAffairs@coloradorealtors.com by the end of business on Wednesday, March 4, 2015.
If you haven’t yet responded to the Call for Action to tell your state legislators to support construction defects reform, Click Here