Are Denver housing prices plateau-ing?
We have gotten used to home values going up and up over the last several years in Denver. Well, things may be changing. In January, prices started going up faster than anticipated; but lately, I’m seeing a lot listings dropping their price. According to this study, a significant percentage of Denverites are looking to move out of the city. Top in-state destination is Colorado Springs. The top out-of-state destination is Phoenix. This could mean more deals will become available, but also be careful not to over-price when you sell.
The short-term vacation rental business may be lucrative, but it’s not for lack of opposition. The city of Golden is the latest to impose a regulation on vacation rentals. Much like Denver, the new regulation requires the owner to live at the property in order to offer a short-term rental on the premises. If you want to get into this business, just make sure you know the local laws and keep a back up plan handy in case your city council gets spooked. The NIMBY (not in my backyard) crowd can be VERY loud, and in politics, that means persuasive.
QUOTE OF THE WEEK
“The Bible tells us to love our neighbors, and also to love our enemies; probably because generally they are the same people.”
~Gilbert K. Chesterton
See you soon,