A new study shows that half of all addresses in the lower 48 states face wildfire risk. In some less-populated states, including Wyoming and Montana, more than 90% of properties are at-risk. “Frightening assessment,” said CAR’s Colorado Project Wildfire Chair Ulrich Salzgeber. A prediction model put together by the First Street Foundation, a nonprofit research and technology group, shows that...
Some
property owners are raising rents 20-50 percent in the Denver Metro Area. The
number of renters has increased, too. “It’s incredibly competitive," said CAR
Spokeswoman Kelly Moye. "It’s just like if you’re buying homes. Most
renters are dealing with competing with 50 to 60 other applicants." She said
she recently had 64 applicants in less than 48 hours for a vacant Westminster
townhouse. “The applicants...
REALTORS® across the state report the tides are turning in Colorado’s
hot housing market, however, the prices are not, according to CAR’s April
Market Trends report. In April, the statewide average home sales were $747,226
for a single-family home and $578,237 for a townhome or condo.
Summit County data showed that 81% of homes in the county were priced at
over $1 million, where...
Denver ranks second in the nation for the number of homes sold for over the asking price at 70%. The San Francisco Bay area was tops at 82%. In March 2021, the Denver statistic was 66%, and in March 2020, the number of homes that sold over the list price was 59%. “I wouldn’t speculate that every house went above...
CAR's
April Market Trends Report shows that interest rates are curbing the number of
offers on homes. However, prices are staying about the same, and now the state
and metro area median home prices are almost the same. Statewide, the median
price is $600,000, versus $660,000 in the seven-county metro area.
According to CAR Spokesperson Sunny Banka of Aurora, "We are seeing more price reductions...
Some
potential homebuyers are considering waiting to purchase a home or continue to
rent in case of a housing bubble burst. Homes that were going for 20% over list
price in February are now selling for 5-8% percent more, according to CAR’s
April Market Trends Report. “One thing that has
to be in place in order for a bubble to burst is you have to...
Fort Collins REALTOR® Chris McElroy has been announced as one of NAR’s newest Distinguished Service Award recipients, the highest honor bestowed on a NAR member outside of presidency. In 1994, McElroy served as president of CAR, and in 2000, he was named Colorado REALTOR® of the Year. His track record as a leader goes back more than 40 years.
Chris...
CAR’s March Market Trends showed
that Fort Collins has a huge number of possible homeowners who are offering
tens of thousands of dollars over the asking price. CAR spokesperson Chris
Hardy says that the multiple offers and large amounts of money that are coming from
competing buyers are "just to have a shot at catching the seller's eye and
having their offer selected from a...
Mortgage rates are over 5%, and the federal interest rate
hikes are doing what they were intended to do, according to CAR Spokesperson Kelley
Moye. “Interest rate increases are slowing everything down.” She says that
double-digit price hikes are a thing of the past: “We won’t see another 20%
price increase like we did last year. We’re seeing fewer showings on the
weekend, we’re seeing...
Home prices in Aurora have risen $100,000 since March of
last year, but due to interest rate increases, the market is cooling just a
bit. For sellers, this means “things are starting to balance out just a little
bit, so you have to be a little more realistic,” says CAR Spokesperson Sunny
Banka. She says a recent listing took two weeks to sell and...