Colorado Real Estate Investing

For the second month in a row, the median price for a single-family home in metro Denver rose nearly 15 percent in February compared with the same month a year ago, but the number of homes sold declined.

Denver was among six metropolitan areas in a 20-city survey released Tuesday that saw home prices increase in December compared with the same period a year ago.

This article in the Denver Post sums it all up on the issue of rent control:

http://www.denverpost.com/opinionheadlines/ci_8104624

Median home prices in metro Denver soared in January compared with the same month a year ago, even as sales during the same period declined, according to data released Tuesday.

The median price for a single-family home was $210,000, up nearly 16 percent from $181,500 in January last year, according to an analysis of Metrolist data. The median price for a condo was $130,500, an increase of 15 percent over last year’s January price of $113,000.

I never thought I’d see it in the free market state of Colorado, but these crazy legislators actually have a RENT CONTROL bill on the table:

http://www.leg.state.co.us/CLICS/CLICS2010A/csl.nsf/fsbillcont3/9BBA6B3653BC17CB872576A800289E82?Open&file=1017_01.pdf

I practiced law in NYC under rent control and it was a NIGHTMARE!  This will KILL the free market and impose unreasonable registration and filing requirements for landlords.

Contact your state representative right away and ask them to KILL THIS BILL

According to the Post, a new bill introduced in Colorado would allow lenders to take control of abandoned properties faster by presumably (not clear) speeding up the foreclosure process for abandoned properties.

—>>> http://www.denverpost.com/economy/ci_14052416

According to the Denver Post, foreclosure filings are up 11% over last year, but the number of properties that actually hit the auction block are down, mostly because of housing counselors and short sales.

>>> Read more