See what the contract clause features that you know and love will look like in the updated platform.
a sneak peek
CTM’s integration, live contracts, signatures, clause library and one point access makes offers a breeze! Jessica, Transaction Coordinator & Broker Your Castle Realty, LLC, Denver
The COLORADO REALTOR® is published by the Colorado Association of REALTORS®, 309 Inverness Way South, Englewood, CO 80112 (303) 790-7099
EDITOR: Lisa Dryer-Hansmeier, VP of Member Engagement & Public Relations: lhansmeier@coloradorealtors.com
The Colorado Association of REALTORS® (CAR) assumes no responsibility for return of unsolicited manuscripts, photographs or art. The acceptance of advertising by the Colorado REALTOR® does not indicate approval or endorsement of the advertiser or their product by CAR. CAR makes no warranties and assumes no responsibility for the accuracy or completeness of the information contained herein. The opinions expressed in articles are not necessarily the opinions of CAR.
This is a copyrighted issue. Permission to reprint or quote any material from this issue is hereby granted provided the Colorado REALTOR ® is given proper credit in all articles or commentaries, and the Colorado Association of REALTORS® is given proper credit with two copies of any reprints.
The term “REALTOR ® ” is a national registered trademark for members of the National Association of REALTORS® The term denotes both business competence and a pledge to observe and abide by a strict Code of Ethics. To reach a CAR director who represents you, call your local association/board.
CAR Update: Navigating Challenges and Elevating Opportunities Together
Hello Colorado REALTORS®!
As we roll into the second quarter of 2025, it’s time to take a step back and reflect on where we stand so far, the hurdles in our path, and the solid groundwork we’re building on here at the Colorado Association of REALTORS® (CAR). This update is all about keeping you in the loop regarding our progress, advocacy efforts, and the strategies we’re implementing to support each of you as we move forward.
First off, let me say: before we can roll out any benefits, programs, or services, we need to be solid from the inside out. The good news? CAR is in fantastic shape! Our recent 2024 audit has reaffirmed that we’re in good financial health and have robust processes in place to make is sustainable. We continue to be responsible stewards of your dues, and that’s something we can all be proud of.
ADVOCACY: OUR STRONGEST ASSET
While we boast many valuable member benefits and features with the opportunity for you to use, our advocacy is one of the most valuable benefits we offer as REALTORS®. Sure, others might benefit too, but when it comes to advocating for private property rights, homeownership, and vibrant communities, nobody does it better than us. As the 2025 legislative session starts to wind down, our Legislative Policy Committee (LPC) is on
Tyrone Adams CEO of the Colorado Association of REALTORS®
top of over 70 bills that have been introduced which directly and indirectly impact you, your consumers and your local and state REALTOR® Associations . While our positions can shift as the situation changes, here are a few key stances to keep in mind:
•Opposed: No Pricing Coordination Between Landlords, Deceptive Trade Practice Significant Impact Standard, Tenant Security Deposit Protections
•Amended: Jury Trials for Tenant Proceedings
•Supported: Construction Defects and Middle Housing Market, Wildfire Information & Resource Center Website
Also on the agenda is the ongoing Sunset Review process for the Colorado Real Estate Commission, with a potential termination date set for September 1, 2026. We’re actively engaging in providing feedback to ensure that the voices of REALTORS® and consumers are well represented.
FACING CHALLENGES HEAD-ON
Looking ahead, we’re not shying away from the realities we’re facing. We’re witnessing a drop in membership, largely because some members may not fully grasp the value of being a REALTOR®. We’re also seeing a rise in regulations that may be impacting your bottom line and an uptick in ethics complaints—many of which are coming from consumers. If there's ever a doubt during your transactions, don’t hesitate to reach out to the CAR Legal Hotline for clarification.
To help everyone rebound and succeed, we’re rolling out some proactive strategies:
•Enhanced Advocacy and Professional Development: Last month we wrapped up our Colorado Connections conference, which offered up to 13 hours of continuing education credits and invaluable information for all members. It’s about making sure you have what you need to thrive in your business.
•Stronger Engagement: We’re committed to getting out there and visiting brokerages in person. If you’d like someone from our CAR leadership to come by and share updates, reach out to Shanaya Joslin at sjoslin@ ColoradoREALTORS.com, and we’ll set it up.
•Adding Virtual Town Hall: We’re working on organizing a virtual town hall for all members, giving you the space to share feedback and engage with us directly.
•Education Efforts: We’re focused on educating both members and consumers about how legislative actions impact homeownership and private property rights.
THE POWER OF COLLECTIVE ACTION
As members of CAR, your involvement is crucial. I urge you to take part in calls to action, invest in the REALTORS® Political Action Committee (RPAC), and share your stories to amplify our advocacy. You can also share our advocacy efforts that impact your clients directly. We’d also love to see you at CAR events and encourage you to consider donating to our philanthropic arm, the Colorado Association of REALTORS® Foundation. In addition, we would love to have you share your expertise on one of our committees and/or workgroups.
FINAL THOUGHTS
As we tackle these evolving challenges together, your commitment and engagement are key. Together, we can elevate our profession, advocate vigorously for our industry, and ensure we offer exceptional service to our communities.
Thank you for being a member and for your ongoing dedication and support!
Testimonial at HB 25-1272
RPAC Investors at Colorado Connections
FROM THE PRESIDENT
Your Association at Work – And Yes, We’ve Been Busy!
If there’s one lens I’ve looked through during my time as President of CAR, it’s this: How can we better connect with our members? From conversations over coffee to full-blown conferences, everything we do is driven by the goal of communication, collaboration, and making your REALTOR® life just a little bit easier.
So, what have we been up to? Buckle up, here comes the highlight reel.
April kicked off with Colorado Connections, our first big in-person CAR meeting of the year. We swapped business cards, swapped stories, maybe even swapped a few war wounds from tricky deals—oh, and we earned CE credits and got fired up by powerful speakers. Huge thanks to everyone who showed up—whether for the networking, the nuggets of wisdom, or the laughs from commiserating.
Despite Zoom’s global meltdown, we still powered through our NAR Forum. We shared some juicy behind-the-scenes insight into NAR committee applications—what to apply for, how to get in, and how to not accidentally mute yourself mid-sentence. Progress!
CAR Committees have been humming along like a well-oiled machine:
•Audit gave us the green light on our financials—always good to know the books balance and we don’t need to sell a kidney.
• The CAR Business Services Committee added some shiny new tools to your REALTOR® toolbox: check them out here.
•Grievance and Professional Standards are helping keep our profession classy by managing member complaints with integrity and fairness.
•Strategic Thinking has us looking toward the future (not with a crystal ball, but close) and keeps bringing in knock-your-socks-off speakers to our events.
• LPC (Legislative Policy Committee) is practically living at the Capitol right now, tirelessly sorting through bills to protect your business and your clients.
• CYPN is keeping things fresh and social, with events and info that are anything but boring.
• The Legal Hotline continues to be a REALTOR®'s best friend—and possibly the most appreciated perk in your membership toolkit.
Dana Cottrell
2025 President of the Colorado Association of REALTORS®
Protecting Property Rights = Priority #1
•September 25 – All-Member Zoom Meeting – Your chance to hear from leadership and share what’s on your mind. Mark your calendars!
Some of the ideas floating around out there (bless their hearts) are… well, let’s just say misguided. That’s why our LPC, FPC, CARPAC, and RPAC volunteers are absolute rockstars. They’re advocating for all of us, making sure homeownership stays accessible and that our industry remains strong. If you can’t give your time, we’ll gladly take your dime—$38 to RPAC in honor of Colorado being the 38th state!
Invest here and help us keep doing the work that protects your business.
A huge shoutout to the 2025 Leadership Academy grads! You are the future of this industry. (Go ahead, update those LinkedIn profiles—you’ve earned it.)
WHAT’S ON THE HORIZON?
•May 22 – Property Management Forum (virtual) –No pants required (well… maybe just don’t stand up unexpectedly).
•October 28-30 – Leadership Symposium in Denver –Open to all members, and a great way to connect, learn, and level up.
Don’t forget, your CAR member benefits include top-notch market data and analysis. Head over to ColoradoRealtors.com/markettrends/ and click around—you’ll find stats, news, tools, and all the info you didn’t know you needed.
Finally—my inbox is always open. Whether you’ve got an idea, a concern, or a good REALTOR® joke (bonus points if it's new), I’d love to hear from you: Dana@DanaCottrell. com.
Here’s to more connection, more communication, and more reasons to be proud of the work we do. Thanks for being part of CAR. You’re what makes this association great.
2025 Legislative Review
CAR Fought for YOU Throughout the 2025 Legislative Session
Vice President of Public Policy for the Colorado Association of REALTORS®
The 2025 Legislative Session is Over. The 120-day legislative session wrapped on Wednesday, May 7th. Legislators won’t reconvene until January 14, 2026, for the start of the 2026 legislative session unless a Special Session is called later this year, which is likely with federal funding cuts on the horizon. Likely federal cuts would force the state to explore a mix of using state funds and cutting services. For 2025, the Colorado Association of REALTORS® tracked 84 bills and resolutions of the 732 that were introduced. Nearly 90 bills were read, reviewed and discussed by more than 50 Legislative Policy Committee (LPC) members from 20 different associations. See all the 2025 bills here. Applications for all CAR Committees including LPC and CAR Political Action Committee (CARPAC) under Government Affairs are open until June 13th Apply now by clicking this link.
REALTOR® Safety and Use of Identity Apps Like Forewarn. Last year, the legislature passed a bill with the intent to prevent algorithmic discrimination including related to housing (SB24-205 “Consumer Protections for Artificial Intelligence”) However, the bill could punish any REALTOR® who uses an identity verification system, such as Forewarn, and expose them to significant harm. It is a priority for us to ensure REALTORS® can work in safe environments and use identity verification systems when potentially showing a property to a stranger. We were able to secure the language we requested and needed in “Artificial Intelligence Consumer Protections” (SB 318) to better define decisions related to “housing.” Unfortunately, SB 318 was killed on one of the last days of the legislative session at the request of the bill sponsor Senate Majority Leader Robert Rodriguez. (Colorado Sun article, Colorado Politics article). Our press release and blog post covers how this endangers real estate professionals’ safety and calls on legislators to fix the law before it takes effect next year.
To be clear, every REALTOR® can still use identity/fraud applications such as Forewarn. Key sections of statute from Senate Bill 24-205 last year don’t take effect until February 1, 2026. There will be a concerted and more forceful effort on our part next January to secure and pass the language we need for real estate professionals to operate safely.
Paving the Way for New Condo Construction. One of our top priorities for 2025, the “Colorado American Dream Act” (HB 1272) passed—marking a huge step forward in addressing
Brian Tanner
Government Affairs
Colorado’s housing crisis and increasing housing supply. This legislation establishes the Multi-Family Construction Incentive Program, beginning January 1, 2026: a proactive solution that prioritizes consumer protection and incentivizes responsible development of condominiums, making it a win-win for homeowners and builders alike. By passing this legislation that we are proud to have supported, Colorado can create more attainable housing opportunities for first-time homeowners, or seniors looking to downsize, and ensure that future generations can achieve the dream of homeownership.
CAR’s CEO, Tyrone Adams, testified on the bill highlighting the urgency of the housing crisis the bill seeks to address, sharing: “Skyrocketing prices and fierce competition among prospective buyers have made homeownership increasingly unattainable for many Coloradans. This crisis affects not only first-time homebuyers but permeates throughout our communities, impacting economic mobility, community stability, and the overall quality of life in our state.” He added, “The median net worth for renters stands at a mere $10,400, contrasting sharply with $400,000 for homeowners according to multiple reports.”
A big thank you to the hard work and incredible stakeholding from its champions: Representative Shannon Bird (HD-29) and Speaker Pro Tem Andy Boesenecker (SD-53), Senate President James Coleman (SD-33) and Senator Dylan Roberts (SD-
Connecting Wildfire Mitigation to Insurance Discounts.
“Risk Model Use in Property Insurance Policies” (HB 1182): Starting in July of 2026, the bill incentivizes homeowners to engage in wildfire risk mitigation on their properties by ensuring insurance discounts and clearer explanations behind the risks insurance companies have assessed against homes. While the bill applies to insurance through the FAIR Plan (and excludes commercial properties) it is a great step towards greater transparency from insurers and consumer understanding around wildfire risk and insurance pricing.
Speaking of Insurance, FAIR Plan Is Now Live in Colorado.
The 2023 session included the passage of legislation creating Colorado’s FAIR Plan, a last-resort insurance option for property owners. If you own a property in Colorado that standard insurers have deemed too high-risk to cover, the Colorado FAIR Plan may provide the coverage you need. To qualify, you must have proof of rejection from three standard insurance companies. For consumers, this means up to $750,000 in coverage for residential properties and $5 million for commercial properties. The FAIR Plan website has some invaluable information and is now accepting dwelling applications for residential properties. It is important to note that FAIR Plan policies only provide coverage for the actual cash value (ACV)
of the property. They are NOT replacement cost coverage.
Bill Exposing REALTORS® to Severe Penalties Defeated
by CAR. Senate Bill 157 “Deceptive Trade Practice Significant Impact Standard” would have reduced the public impact test threshold to “having the capacity to injure” the public, which effectively brings down the evidence requirement to one single person’s claim. CAR opposed this bill from its inception because it exposes REALTORS® to deceptive trade practice penalties of $20,000 per violation including treble damages and attorney costs that are not covered by E&O insurance. The bill died on the Senate floor with 7 Democrats joining all 12 Republicans to defeat the bill 19-16.
Preempting Local Government Anti-Growth
Policies. CAR actively supported “Limitations on Local Anti-Growth Land Use Policies” (House Bill 1093) which passed and preempts local governments from adopting any land use policies that explicitly limit the growth of the population, the number of development permits, or the number residential building permit applications. Amendments in the Senate ensure that residential densities and uses cannot decrease in urban areas identified by the U.S. Census Bureau and exempted land adjacent to or containing wildlife crossing structures as defined by the Colorado Division of Parks and Wildlife. Municipalities can seek judicial determinations of any proposed land use ordinance.
REALTOR® Party Mobile Alerts offers REALTOR® Associations and REALTORS® a way to stay connected directly from their cell phone or tablet. When a national or state legislative call for action is launched, subscribers get a short text message containing information to take action. Stay in the “know” as housing legislation heats up at the state capitol and nationally this year.
*If you sign up for RPMA and receive a Call For Action, taking action does NOT subscribe your information to a listserv.* RPMA and CFA are strictly to inform members of legislation that the National Association of REALTORS® or Colorado Association of REALTORS® needs grassroots engagement.
CAR's 2025 Leadership Academy Graduates
Desiree Banka Rothenberger South Metro Denver
Lauren Fredrickson Pagosa Springs Area
Laura Ostrom REALTORS® of Central Colorado
Hans Rosielle Pikes Peak
Katie Davis Grand Junction Area
Glen Greenlee Royal Gorge
Lisa Nelson Loveland/Berthoud
Sarah Windholz Glenwood Springs
Karen Esquibel South Metro Denver
Mark Hubert Pikes Peak
Jonathan Post Pueblo
Brandi Wright South Metro Denver
Ann Foster Vail
Larissa Kunz Pikes Peak
Alysha Ranson Pagosa Springs Area
COLORADO PROJECT WILDFIRE DELIVERS RESOURCES AND RESULTS
REALTOR® Members Encouraged to Join Monthly Forum Conversations
CAR’s Colorado Project Wildfire (CPW) program continues to evolve and grow in an environment of changing conditions, laws, and access to resources that impact our members, their clients/homeowners statewide, as well as private and public sector wildfire professionals and the insurance industry as a whole.
Over the course of the past two years, we’ve seen a dramatic increase in the number of proposed legislative solutions and fixes to numerous aspects of the wildfire and insurance industry realities playing out across our state. As a result, our Project Wildfire efforts have naturally been aligned and strengthened around many of these key issues and legislative priorities while maintaining the foundation of our program goals and objectives around member and consumer education and mitigation efforts.
“More than any governmental organization or trade industry,
REALTORS® have the opportunity to engage in face-to-face discussions with homebuyers and sellers about these important issues and resources,” said Evergreen-area REALTOR® David Hanna who, together with his Mountain Metro Association of REALTORS® colleague Cathie Nicholson, is helping spearhead Colorado Project Wildfire efforts for CAR. “It’s crucial that every REALTOR® and every community pitches in to educate consumers and help save property, homes and lives.”
Although wildfires have been and continue to be the predominant issue driving our program efforts, the challenges and need for viable solutions has morphed into an insurance dominated conversation over the past year
and that focus continues to grow. On the legislative front, there are numerous bills covering a diverse range of wildfire and insurance topics that our GA and LPC teams have been actively working.
One bill (SB 11) would allow cameras to detect wildfires from around the state. CAR successfully changed, or amended, this bill to require any vendor to pixelate or blur out images of properties so that the cameras couldn’t peek into windows of homes within its view. CAR also secured a public notice of cameras from any vendor and that any violation by camera operators would be subject to Colorado’s “peeping tom” laws for criminal invasion of privacy.
Another bill (HB 1009) enables a local fire district, or metropolitan district that provides fire services, to create a local program that could fine property owners for failing to remove or mitigate vegetative fuel from their prop -
erty. CAR successfully amended the bill to require a public hearing before a local district could enact a program; tolling of mitigation work depending upon the cost to the property owners; lowering and capping fines for owners; preventing foreclosure of a property due to nonpayment of fines; and requiring written permission by a property owner or occupant for access to the property.
One last bill (HB 1182) to highlight that CAR actively supported incentivizes homeowners to engage in wildfire risk mitigation on their properties by ensuring insurance discounts and clearer explanations behind the risks insurance companies have assessed against homes. While the bill applies to insurance through the FAIR Plan (and excludes commercial properties) it is a great step towards greater transparency from insurers and consumer understanding around wildfire risk and insurance pricing.
“There is a need and a way for every REALTOR® who joins CPW to have a seat at the table and make an impact in their community and their business,” said Cathie Nicholson. “It’s critical that we make the commitment to these issues and help create and implement solutions for ourselves, our clients and our communities.”
As a key part of our internal, memberdriven focus on education and wildfire program development, we have expanded our volunteer group of active CPW members and leadership team to include several new faces who have joined our long-standing and dedicated volunteers from across the state. Based on guidance from that membership group and our government affairs staff, we’ve
established a more robust schedule of monthly Forum meetings designed to share the latest information, program initiatives, access to resources and brainstorming that now encompasses a growing number of our members representing front range, mountain and western slope communities. While the early (Q1 2025) efforts have been heavily focused on our legislative efforts and key wildfire and insurance related bills, we continue to share resources, program ideas, industry contacts and more through a more defined process. That growth will continue in the year ahead.
Our statewide initiatives and local program implementation remain focused on the issues surrounding insurance, particularly availability of insurance, as concerns grow about the large and growing number of properties deemed uninsurable or
policies being canceled by a growing number of insurers writing policies in our state. On behalf of our members and their clients, we have strengthened our relationships and access to the most current information from a wider spectrum of insurers – from the largest players to the smaller independent providers offering policies in Colorado. In addition, we’ve worked with the creators of the Colorado FAIR Plan as they begin accepting applications for this last resort coverage option.
Externally, our working group and members continue to implement diverse, proactive program initiatives with key stakeholders and association members working in their local communities.
continued on next page
Our Colorado Project Wildfire working group is currently updating and providing program materials, access to resources and distribution channels for those materials and information. Those efforts include:
•Access to non-traditional resources for insurance policies;
•Updates, providing a REALTOR® lens and collaboration in the launch of the FAIR Plan and its resource toolkit;
•Remain active members of the Colorado State Forest Service Wildfire Mitigation team and its Wildfire Mitigation Education Outreach program, “Live Wildfire Ready” and the campaigns most recent materials produced to highlight Wildfire Awareness in the month of May and throughout the year;Participation in the work of the Wildfire Resiliency Code Board (WRCB) via the Division of Fire Prevention and Control;
• Working with the Rocky Mountain Insurance Association, as well as the Professional Independent Insurance Agents of Colorado (PIIAC) and others to address these issues with our
members and the consumers they serve;
•Collaborating with United Policyholders on the delivery of information and resources for homeowners who have been canceled/nonrenewed or can’t afford insurance policies on their properties;
•Continue distribution of the Colorado Property & Insurance Wildfire Guide -the most requested information pieces from the State Forest Service and Rocky Mountain Insurance Association over the past four years.
Our early 2025 program initiatives and goals continue to focus on growing our CPW impact for members, as well as a heightened awareness and focus on the growing conversations and concerns surrounding insurability and costs in the expanding footprint of wildfire prone communities.
Any CAR member is welcome and invited to become a member of the ongoing CPW Forum conversations and program initiatives. Forum calls are hosted on the third Friday of each month via Zoom where members have the opportunity to hear and talk through the latest wildfire and insurance related issues; brainstorm, share resources and information related to local program opportunities and develop new initiatives that can be applied in partnership with our wildfire stakeholder partners.
REALTORS® interested in joining the CPW Forum group can email CAR Vice President of Public Policy, Brian Tanner at: btanner@coloradorealtors.com or, Marty Schechter at: marty@schechterpr.com
Learn more at www.ColoradoREALTORS.com/projectwidlfire
COLORADO’S HEART AWARD
2025 Colorado’s Heart Award Winner - REALTOR® Scott Matthias:
Creating Comfort, Delivering Hope
Scott Matthias, Broker Associate with Madison & Company Properties and one of Colorado’s most respected REALTORS®, has been named the 2025 Statewide Winner of the Colorado’s Heart Award. This prestigious honor recognizes REALTORS® who give back to their communities, and Scott’s work through Knock Knock Angels Colorado (KKACO) is a shining example of service, dignity, and heart.
Founded in July 2021 in memory of Scott’s father, a Navy veteran, KKACO has helped over 150 veterans, young mothers, and individuals emerging from homelessness turn empty apartments into livable, welcoming homes. Each makeover includes full furnishings—beds, couches, tables, silverware, dishes, wall art, and décor— thoughtfully curated to reflect the needs and dreams of each recipient.
“After losing my dad during COVID, I knew I wanted to give back to the people who’ve given so much to this country,” Scott said. “Our veterans are the epitome of selfless service. They deserve more than just a roof—they deserve dignity, stability, and a home that says ‘you matter.’“
In just under four years, KKACO has completed 58 full home makeovers and delivered 78 additional “random acts of kindness” by allowing veterans to visit the organization’s five storage containers—each one 40 feet deep—and select what they need. While storage is limited, the impact is not.
“The hardest part is saying no to good furniture donations because we’re out of space,” Scott shared. “We’re hoping someone will step forward with a warehouse where we can grow our reach.” Despite that challenge, KKACO continues to thrive, thanks to Scott’s vision and the support of an expanding network of volunteers, REALTORS®, and community partners.
One of the most moving moments came when a Marine veteran, a single mother of three, sold her plasma just to rent a U-Haul. “She arrived with nothing,” Scott recalled, “and we filled that U-Haul with beds, furniture, cookware, and rugs—everything she needed to make her apartment a home.”
Scott’s leadership isn’t confined to donations and logistics. In the past year alone, he has personally volunteered more than 1,000 hours, recruited another 1,500 hours from
Scott Matthias
2025 Colorado's Heart Award Winner
Scott at Various Knock Knock Angel Makeovers
others, and raised $40,000 in funds. Additionally, KKACO has distributed over $170,000 in donated furnishings and spent $144,000 on purchased items to complete home setups—all without a single dollar going toward administrative overhead.
His real estate network has played a critical role in expanding KKACO’s mission. REALTORS® from the Colorado Association of REALTORS® and the South Metro Denver REALTOR® Association have joined him for makeovers, proving that even in a competitive industry, service brings people together.
“For nearly 40 years I’ve watched REALTORS® step up across the country,” Scott said. “We build communities in more ways than one. Volunteering alongside my peers to serve veterans is one of the greatest honors of my life.”
Beyond furnishing homes, KKACO is beginning to build mentorship and follow-up programs to ensure their recipients stay connected and supported long after move-in day. “It’s about creating comfort, yes,” Scott added, “but it’s also about delivering hope—and sustaining that hope.”
Scott’s commitment was clear from the start. As Region XI Vice President of the National Association of REALTORS®,
he publicly announced the formation of KKACO during the Region XI Conference in Denver. From there, he built a volunteer board, secured nonprofit status, and established relationships with HUD-VASH, Hope House, St. Francis Center, Colorado Coalition for the Homeless, and the Denver Rescue Mission. These partnerships now fuel his growing list of successful placements.
His work has touched the lives of veterans who spent years on the street—some of whom served in World War II, Korea, Vietnam, Iraq, and Afghanistan. Many of them now sleep in warm beds surrounded by the comforts of home, thanks to Scott and his team. Teen moms from shelters like Hope House now raise their children in safe, furnished apartments that restore their sense of control and possibility.
As he continues to lead KKACO into its next chapter, Scott reflects on what motivates him most. “I truly believe you get by giving,” he said. “Every time we finish a makeover and see that smile, that tear, that moment of relief… that’s when you know you’ve done something that matters.”
Contact Scott Matthias at scott@coloradorealestate.com and learn more about Knock Knock Angels Colorado at www.kkaco.org.
COLORADO’S HEART AWARD
Mountain District Finalist -REALTOR® Rebecca Wydra:
Building Bright Futures from the Ground Up
In Eagle, Colorado, community is more than a concept—it’s a way of life. And no one embodies that spirit more than Rebecca Wydra, REALTOR® with Your Castle Real Estate and the 2025 Mountain District Finalist for the Colorado’s Heart Award. Her work with Mountain Tots Preschool has not only helped preserve a local legacy—it’s set the stage for brighter futures for the valley’s youngest residents.
As President of the Mountain Tots Board of Directors, Rebecca has poured time, heart, and expertise into transforming the nonprofit preschool, overseeing everything from leadership transitions and operational upgrades to securing land and raising funds for an entirely new facility. Her leadership has helped usher the school into its 50th year stronger, more stable, and poised for expansion.
“High-quality early childhood education significantly impacts a child’s development and future success,” Rebecca said. “It leads to better academic outcomes, better health, and increased opportunity over a lifetime. I want my kids—and every child in our community—to have that foundation.”
Over the past year, Rebecca has volunteered more than 250 hours to Mountain Tots, recruited 50 hours from others, and personally raised over $620,000 toward the new building. Her real estate experience was instrumental in identifying land, navigating zoning and permitting, and engaging contractors. “I’ve learned a lot this year,” she said. “I took a piece of land all the way through the commercial development process— something I had never done before.”
Mountain Tots Preschool, one of Eagle County’s oldest nonprofits, serves 40 children each year and operates in a region considered a ‘childcare desert.’ There are far more children than licensed care spots, and the need continues to grow. Rebecca’s work ensures that Mountain Tots can not only survive—but expand to meet that need.
“Helping Mountain Tots transition between directors and find a new home is just my part in continuing their legacy,” she said. “The most rewarding part is seeing the kids grow up in this community. It’s a small town, so the kids who start at Mountain Tots often grow up together. It fosters a strong sense of connection.”
One of the most powerful aspects of the school’s model is its use of mixed-age
Rebecca Wydra, 2025 Colorado's Heart Award Finalist
classrooms. “When a kindergartener walks into their new school and sees an older Mountain Tots alum there, it eases the transition,” Rebecca said. “They already have someone to look up to.”
Rebecca’s work with Mountain Tots is just one piece of her community leadership. She also serves as a leader with MomCo (formerly Mothers of Preschoolers), where she has raised funds to double their budget, secured grants to send moms to national training conferences, and provided support, meals, clothing, and friendship to women navigating motherhood. “I believe giving back to your community is one of the most powerful ways to create lasting change,” she said. “I hope my kids see that and carry it forward.”
Being a REALTOR® has enabled Rebecca to bring a unique blend of skills to her volunteer roles. “It gives me the flexibility to attend meetings during the day, and it helps me connect families not just with homes—but with the community,” she said. “I get to match people not just with a house, but with a neighborhood, a preschool, a rhythm of life. That’s deeply meaningful to me.”
She also loves introducing her clients to the nonprofits she works with—matching their philanthropic interests with local causes. “It’s incredibly rewarding to help
someone find a home, and then connect them with something that matters to them here,” she said. “That’s how we strengthen our community.”
Like many working parents, Rebecca’s biggest challenge is time. “Balancing my real estate business, volunteering, and raising three kids under seven is a juggling act,” she said. “But when I see how it all connects—how my kids are part of the preschool, how my clients become part of the community—it’s all worth it.”
With the new Mountain Tots facility slated to open later in 2025, Rebecca is helping write the next chapter for a school that’s shaped generations. Through steady leadership, tireless fundraising, and deeply personal commitment, she is ensuring the next 50 years are even stronger than the last.
“We’re creating stability, connection, and a foundation for the future,” she said. “And if my small part in that makes even one child’s life a little better—then that’s more than enough.”
Contact Rebecca Wydra at becky@mynewera.com and learn more about Mountain Tots Preschool at www. mountaintotspreschool.com.
Rebecca at Various Mountain Tot Events
COLORADO’S HEART AWARD
Western District FinalistREALTOR® Micah Adams:
Laying
Foundations for Futures
For Micah Adams, a Broker Associate with S.U.R.E. LLC in Fruita, Colorado, building homes has always been about more than real estate. It’s about building hope, stability, and lasting community. As the Western District Finalist for the 2025 Colorado’s Heart Award, Micah is being honored for his six years of dedicated volunteer service with Habitat for Humanity of Mesa County.
Micah has served on the board of directors, the executive and construction committees, and can often be found on-site, swinging a hammer alongside future homeowners. “As someone who grew up in a family that struggled to make ends meet, I know the peace and stability that an affordable home can offer,” he said. “But what I love most about Habitat is that it’s about more than just four walls and a roof—we get to build community and teach valuable life skills along the way.”
His service is both broad and deep. In just the past year, Micah has volunteered over 100 hours, recruited 42 additional volunteer hours, and raised $3,425 personally for Habitat. He has helped construct more than 20 homes over his tenure, housing over 60 individuals. He also represents Habitat at out-of-area and state conferences, bringing back new ideas, resources, and best practices.
“The biggest challenge this past year was funding,” Micah said. “We were coming off our biggest build year ever, thanks to some incredible grant support, but that funding didn’t return this year. So, we had to scale back. But I once heard it said that the challenge is the opportunity—and this year pushed us to find new ways to fundraise and connect with our community.”
One of the ways Micah makes a difference is by serving as a connector. He frequently bridges the gap between local leaders, business owners, and the mission of Habitat. “I’ve always believed that I’ve been blessed so that I can help bless others,” he shared. “As REALTORS®, we’re held to a higher standard. And with that, I think we all have the opportunity—and the responsibility—to use our success to lift others up.”
This philosophy of paying it forward is evident in every project he touches. Whether he’s framing a wall, staffing a fundraiser, or advocating for affordable housing at a city meeting, Micah brings humility and dedication to everything he does. “It’s easy to write a check or show up for a day,” he said. “But it’s when you keep showing up,
Micah Adams, 2025 Colorado's Heart Award Finalist
over and over again, that people start to believe in the mission—and in themselves.”
Micah’s involvement has helped Habitat for Humanity of Mesa County scale and stabilize its operations. Executive Director Laurel Cole called Micah a “model board member” who brings both strategic vision and hands-on heart. “He’s always the first to raise his hand, whether it’s for a local fundraiser or a national training,” she said. “He shows up physically and mentally, month after month and year after year.”
Micah’s work also represents a ripple effect in the community. Families who’ve moved into Habitat homes often return to volunteer and mentor other homeowners. Children raised in those homes have access to more stability and opportunity. “When a family puts down roots in a home they helped build,” Micah explained, “it changes everything. It builds pride, investment, and belonging that ripples through generations.”
That ripple extends beyond housing. Through Habitat, Micah has helped teach financial literacy, construction basics, and home maintenance skills—lessons that empower new homeowners to sustain the homes they helped build. He’s also played a key role in identifying land for development and helping navigate real estate
and permitting challenges.
“Being a REALTOR® has helped me understand the big picture,” Micah said. “I can look at the housing landscape with both professional and personal perspective, and I use that to help Habitat make strategic decisions.”
Micah’s story is one of consistent, quiet leadership—the kind that builds trust, changes lives, and strengthens communities from the inside out. As the Western District Finalist for the 2025 Colorado’s Heart Award, he represents the kind of REALTOR® who makes a difference not just in transactions, but in transformation.
“The most rewarding part,” he reflected, “is seeing community come together to build something that has the potential to change the trajectory of a family for generations. That’s when you know you’re doing something that really matters.”
Contact Micah Adams at micah@suregj.com and learn more about Habitat for Humanity of Mesa County at www.habitatmesa.org.
Micah at Various Habitat Events
COLORADO’S HEART AWARD
Northeast District Finalist- REALTOR®
Duan Rockette:
Building a Legacy of Honor and Gratitude
For Duan Rockette, a Broker Associate and Partner at The Group Real Estate in Loveland, Colorado, service doesn’t stop at the closing table. It extends to breakfast tables across the region, where each week nearly 200 veterans gather to share stories, find connection, and receive heartfelt thanks.
Named the Northeast District Finalist for the 2025 Colorado’s Heart Award, Duan is being honored for his powerful and enduring commitment to veterans through the Veterans Community Network and the annual Veterans Breakfast—an event that has become one of the most meaningful in Northern Colorado.
“Born from a personal struggle,” Duan explained, “the past eight years of hosting Veterans Breakfast—where challenge coins are presented as lasting symbols of honor—have inspired me to continue serving veterans across Missouri, Nebraska, and Colorado. It reminds me that as REALTORS®, we don’t just live in our communities—we lead them.”
The Veterans Breakfast began as a small gathering, but it has grown into a major community tradition. In 2024, the event welcomed 675 attendees and honored 350 veterans, a 45% increase from the previous year. It has become a place where generations gather to remember, reflect, and uplift each other.
Managing that growth hasn’t been easy. “The biggest challenge was navigating the rapid growth of our Veterans Breakfast—from a church to Embassy Suites—while preserving its heart,” said Duan. “We had to coordinate new sponsors, manage logistics, and ensure that every detail stayed true to our mission. That’s what made it all worth it.”
That mission became even more visible when Duan and his team were honored by the Colorado House of Representatives for their statewide impact. At the heart of it all is a powerful message: every veteran deserves to be seen, honored, and remembered.
But Duan’s work goes beyond one event. Through the Veterans Community Network—a nonprofit he founded—he provides year-round support to those who’ve served. Whether it’s connecting veterans with local services, offering mentoring and
Duan Rockette, 2025 Colorado's Heart Award Finalist
peer support, or simply creating a space to belong, Duan has built a culture of care that extends far beyond Loveland.
“The most rewarding part has been hearing heartfelt stories from families—some of whom have since lost their veteran loved ones—who say those breakfasts gave them lasting memories,” Duan shared. “That’s why we do what we do. We’re creating a legacy of gratitude.”
In the past year alone, Duan has volunteered more than 250 hours, raised over $40,000 in direct contributions, and coordinated more than $30,000 in in-kind sponsorships. His leadership has helped the Veterans Community Network formalize its programs and expand to serve veterans in new ways across the region.
Weekly breakfasts with local veterans remain a cornerstone of his efforts. “These weekly gatherings are about more than food,” Duan said. “They’re about camaraderie, healing, and finding purpose after service.”
Being a REALTOR® has also shaped Duan’s ability to serve. “Living in such an engaging community has been a blessing,” he said. “Being a REALTOR® has given me the platform to serve families not only through real estate, but to also launch initiatives like the Veterans Community
Network. It’s an extension of how I show up for people every day.”
Duan’s story resonates far beyond real estate or even veteran advocacy—it’s about what happens when one person commits to leading with compassion, showing up consistently, and never losing sight of the people behind the mission. His work inspires others to look around and ask, “Who can I lift up today?”
As the 2025 Northeast District Finalist for the Colorado’s Heart Award, Duan Rockette exemplifies what it means to lead from the heart. Through remembrance, relationships, and relentless commitment, he has helped unite a community around its veterans—and shown that true service never ends.
Contact Duan Rockette at duan@thegroupinc.com and learn more about the Veterans Community Network at www.veteranscommunitynetwork.org.
YOUR CAR DUES DOLLARS AT WORK
WIDE RANGE OF PROGRAMS AND SERVICES THAT STRENGTHEN OUR MEMBERS AND OUR INDUSTRY
As a member of the Colorado Association of REALTORS® (CAR), it is important to understand how your dues dollars are spent. CAR staff and volunteer leadership work hard yearround to ensure that your dues are used thoughtfully and appropriately toward supporting programs and services designed to help you be successful, protect your right to run your business, and to move our industry
forward. Exactly what does that look like? In this article, we will take a detailed look at how your CAR dues dollars worked for you in 2024.
In 2024, CAR dues were $195.00. Based on the direction of the CAR Board of Directors, each year $20 of that amount is designated to CAR’s Issues Mobilization Committee, and $5 to CAR’s REALTOR® Political Action Committee. These Board designated contributions, in addition to investments made by members like you, help to ensure that CAR can support candidates and shape legislation that benefits our members and industry, as well as private property owners.
The remaining $170 was distributed towards the following CAR programs and services which benefit members and the real estate industry.
Political Advocacy –21.23%
The most significant portion of your CAR dues, 21.23%, was directed toward political advocacy efforts. This includes lobbying and engaging policymakers to shape legislation impacting the real estate industry and homeownership. In 2024, 43 passionate CAR Legislative Policy Committee volunteers from 19 local REALTOR® Associations, along with the talented CAR Government Affairs Staff, reviewed over 115 of the 735 bills
introduced during the session, and took positions on 98 with potential impact on CAR members. Among many other efforts throughout the year, the Government Affairs team also utilized a ‘Call for Action’ to encourage thousands of CAR’s members to reach out to their state legislators to support Senate Bill 24-206 “Right To Remedy Construction Defects” and help spur more condo development for first-time homeowners or seniors looking to downsize.
While SB24-206 did not pass, it set a foundation that led to the passage of HB25-1272 “Construction Defects & Middle Market Housing” in 2025. By investing in advocacy, CAR ensured that members’ voices were heard on many critical issues, and helped our staff identify and support elected officials and candidates that are REALTOR® Champions. The benefits of these efforts help to build and sustain a strong industry where our members can thrive.
Legal & Risk – 17.72%
In 2024, 17.72% of your dues supported CAR’s Legal & Risk division. By providing access to professional arbitration and mediation, this impactful department enforced Professional Standards and helped members resolve conflicts efficiently, saving time, reducing stress, and avoiding costly legal battles.
CAR’s expert staff, along with many dedicated volunteer members, processed 46 Ethics complaints resulting
in 12 hearings, and 8 Arbitrations resulting in 5 hearings. The Legal & Risk staff also supported the efforts of 26 Local Associations in meeting NAR’s Professional Standards criteria. CAR’s Legal & Risk department also supported the Legal Hotline, ensuring that CAR members received direct access to a qualified real estate attorney for information on real estate law. In recent years, Legal Hotline calls have increased 20%, and CAR’s real estate attorneys receive approximately 36 calls per day.
While the Hotline does not provide legal representation, the information and support available can help members avoid the need for an expensive call to another attorney. In addition to these crucial and cost saving programs, this department also worked hard to support and collaborate with your Local Association Executives in their efforts to provide services to members like you all over the state.
Meetings, Events, and Leadership Travel –16.7%
Meetings, events, and volunteer leadership travel accounted for 16.7% of the budget in 2024. These expenditures accounted for the costs of hosting conferences like the CAR Spring Summit, Fall Leadership Symposium, and other offerings. These events fostered leadership networking, housed important business meetings, allowed for the exchange of important industry information, and offered profes-
sional development opportunities.
Additionally, leadership travel ensured that CAR representatives, both volunteer and staff, visited local brokerage offices and associations and attended important industry events both locally and nationally. Allocating funds for meetings, events, and leadership travel made certain that CAR had a seat at crucial tables and stayed updated on industry trends, as well as local, state, and national issues. It also allowed CAR volunteer leadership and staff to meet, conduct business, and share valuable information with other leaders, members, and stakeholders.
Administration – 15.21%
Administrative costs made up 15.21% of dues spending in 2024. This included the essential day-to-day operations of CAR, including certain staff salaries, upkeep of CAR’s office space, and other overhead costs. These funds also supported things like staff professional development, financial operations, and the yearly audit of CAR’s finances by an outside CPA firm. These fundamental costs keep the organization running smoothly and ensure that CAR Members continue to have access to the various programs, services, and benefits for years to come.
Research and Communication –10.38%
Utilizing 10.38% of your 2024 dues, CAR’s adept Member Services staff, together with partners like Schechter PR, invested in gathering data on industry trends including inventory, affordability, interest rates, and other important metrics. This data was used to produce monthly Market Trends reports – local, by county, and statewide –and helped CAR’s members stay on the forefront. Our Member Services staff also facilitated training for CAR Spokespersons. These knowledgeable volunteers handled multiple media requests on CAR’s behalf and ensure the REALTOR® message was communicated clearly, consistently, and accurately. This budget also supported communication pipelines like the monthly Colorado REALTOR® Magazine and various social media channels. These and other touchpoints keep CAR’s members engaged, informed, and successful.
Professional Development – 8.27%
Investing in members' skills and success, 8.27% of the 2024 budget
supported professional development. This small but mighty program provided and facilitated access to diverse education opportunities for CAR’s members. By partnering our engaging and knowledgeable staff with NAR, Kaplan, and the Colorado Real Estate School, CAR provided access to content like the Colorado Annual Commission Update, 10 Things, and an array of speakers and instructors at CAR events.
In 2024, CAR’s professional development program hosted more than 20 in person and virtual classes accessible to general membership, reaching more than 4,000 members through education. CAR staff traveled to all 26 Local Associations to bring important education directly to their backyards.
Additionally, 15 REALTORS® completed CAR’s 2024 Leadership Academy. This exclusive four-month training and development program is designed to nurture future association leaders. Past and current CAR volunteer leaders work with our expert staff and serve as mentors to help participants become educated about CAR, gain media training, and develop leadership skills to apply in their association and career. The 2024 graduates are prepared to participate in CAR committees and other leadership roles both within and outside of CAR.
By offering these resources, CAR endeavors to ensure that its members remain competitive and successful in an ever-evolving industry, and that your association has a strong pipeline of smart, competent, and dedicated leaders.
Technology – 5.35%
Technology is an essential aspect of the sustainability of any organization, and CAR dedicated 5.35% of your 2024 dollars to these expenditures. This included the maintenance of CAR’s website and association management software, as well as keeping our equipment, software, and virus protection up to date. This important allocation also allowed CAR staff to investigate how Artificial Intelligence (AI) could be used to improve efficiency and outcomes for our State and Local Associations. All year long, CAR staff worked to keep association data safe while ensuring easy access to information and providing technical support for both virtual and in-person events.
Charitable Engagement and Member Benefits –
5.14%
The final 5.14% of your 2024 dues funded three important initiatives at CAR: Charitable engagement, member benefits, and efforts to seek out non-dues revenue.
CAR’s biggest investments in charitable engagement were the CAR Foundation and NAR’s REALTOR®
Relief Foundation. The CAR Foundation is a 501(c)(3) that began in 1960 as the CAR Education Foundation and has gone through several changes over the years. Today, the Foundation is the philanthropic and community engagement arm of CAR and works to promote safe and affordable housing, education on homeownership, and provide disaster relief when the need arises.
In 2024 The Foundation’s dynamic Executive Director, along with passionate volunteer board members executed this charitable mission and impacted thousands of lives. The Foundation is a separate entity, with its own budget, but the funds provided by your dues dollars allowed CAR to provide additional support to the Foundation in the form office space, marketing, and event sponsorships. Contributions to REALTOR® Relief and other charitable organizations in 2024 demonstrated the commitment of REALTORS® and CAR staff alike to support their communities and important causes.
The CAR Business Services (CARBS) has a mission to seek out benefits that serve our diverse membership, as well as strategic partnerships that enhance CAR’s value and bring non-dues revenue to sustain member programs. Since its inception in 2010, CARBS has introduced benefits and discounts on such things as marketing tools like
Summing Up
These relationships help support your success as a CAR Member while bringing non-dues revenue into the CAR budget. With nearly 95% of CAR’s 2024 budget being funded by member dues, non-dues revenue is crucial to help bolster programs and services while mitigating changes in membership. While CARBS has been a separate entity with its own budget since 2010, in late 2024, CARBS became an internal CAR Committee. This change has enabled a more effective partnership between CAR’s insightful volunteers and our results-oriented staff.
As you can see, the Colorado Association of REALTORS® is dedicated to utilizing your dues to support a wide range of programs and services that strengthen our members and our industry. From advocating for your rights at the Capitol, to providing professional development opportunities and vital industry information, every dollar is spent with CAR’s Value Proposition in mind.
By carefully managing funds and fostering programs that support legislative influence, industry leadership, and community engagement, CAR staff and volunteer leadership act as good stewards of member dues and demonstrate our commitment to the success and advancement of both individual REALTORS® like you, and the real estate industry as a whole. Your dues truly make a difference, driving CAR’s ongoing efforts to empower its members and advocate for a robust real estate industry across Colorado.
Have additional questions about how your dues are used? Use this form to reach out: Dues Inquiries
IXACT Contact, insurance like Williams Underwriting, and transaction tools like CTME.
E&O Basics –Knowing When a Claim Is Made and
How to Report It
Understanding your real estate errors and omissions (E&O) insurance policy is extremely important. Williams Underwriting Group (WUG), a division of Accretive Specialty Insurance Solutions, LLC, is the exclusive real estate E&O provider for the Colorado Association of REALTORS® (CAR) with additional benefits for CAR members. Continental Casualty Company, a CNA insurance company, is the insurance carrier.
E&O insurance benefits real estate professionals by providing assistance to respond to covered claims. Like most E&O policies, WUG’s independent group policy is a claims-made-andreported policy. As the name suggests, claims-made-andreported policies apply to claims that are both first made against the insured and reported to the company during the policy period.
Even the most careful professional can face a claim, so it’s important to recognize a claim as soon as it’s made and report it to your E&O provider in writing. Failure to do so can jeopardize any coverage that may otherwise have been available.
The specific definition of a claim varies from policy to policy, so be sure to review your policy’s definition of claim. Very broadly, a claim is generally service of a lawsuit, institution of an alternative dispute resolution (arbitration or mediation proceedings), or a written demand for money or services that alleges a negligent act, error, or omission in your professional services and seeks damages. Some brokers seem to think only a lawsuit is a claim, but that is not true. Some emails, letters, and faxes meet the definition of a claim.
A few reasons insureds have given for not immediately providing written notice of a claim to their E&O provider include “It wasn’t a lawsuit, so I didn’t know it was a claim.”; “I didn’t do anything wrong.”; “I didn’t want a claim on my E&O policy”; and “I thought it would go away.” The example below shows why it is critical to immediately notify your E&O provider of any claim.
Example – Bill Broker has maintained E&O insurance for years that renews annually on January 1. Bill listed Sam Seller’s property in early 2024. Bill’s MLS listing indicated the home was 3,500 sq. ft., which was taken from tax records. After buying the property, Paula Purchaser hired an interior designer who prepared a floorplan that showed the home was only 2,750 sq. ft. Paula sent Bill the following email on May 1, 2024: “I can’t believe you hold yourself out to be a professional when your listing misrepresented the square footage in the new home I purchased. I expect you to pay me $75,000, which is the amount I overpaid based on the incorrect information you provided.”
Bill considers Paula’s request to be so ridiculous that he’s insulted. He vents his frustration to many friends, including an attorney. In their opinion, the interior designer’s measurements are more likely to be incorrect than the tax records. Even if the tax records were wrong, Bill feels justified in relying on them. Additionally, the purchase agreement specifically provided the buyer should independently investigate square footage if that was important to her. Bill and his friends think Paula will go away if he ignores her.
Should Bill (A) immediately provide his E&O provider with written notice of Paula’s email or (B) ignore Paula’s email, because he thinks it is frivolous and will go away? The correct answer is (A) immediately provide his E&O provider with written notice of Paula’s email. Even though Bill believes he did everything right and does not think Paula will file a lawsuit, he should immediately notify his E&O provider of the email to preserve any coverage that may be available.
What are the potential consequences if Bill does not immediately notify his E&O provider but rather ignores the claim? Much to Bill’s surprise, he is served with a lawsuit in April 2025, at which time he notifies his E&O provider. The claim was initially made when he received the email in 2024, during his January 1, 2024 to January 1, 2025 individual policy period but not reported until after that policy’s end date. The carrier may not cover the claim, because it was reported after the end of the policy period in which it was first made, so the claim was not both made and reported during the individual policy period in which it arose.
To preserve any coverage that may be available, you should immediately report any claim to your E&O provider in writing, even if you think it is frivolous or will go away. Claims
under the group policy should be immediately reported in writing to the claims administrator at claims@risceo.com (Rice Insurance Services Center, a division of Accretive Specialty Insurance Solutions, handles claims made under WUG’s program). Feel free to contact WUG at 1-800- 222-4035 if you have any questions or concerns. They are always happy to help.
To preserve any coverage that may be available, you should immediately report any claim to your E&O provider in writing, even if you think it is frivolous or will go away.
MARKET TRENDS
Interest rates, affordability, economic uncertainty may have driven early end to spring housing season
Despite what the calendar says and a housing inventory that continues to build across the Denver metro area and state, the typical spring housing season may have come and gone a little early this year. Higher interest rates, economic uncertainty, and pricing that remains stubbornly high is keeping a more selective pool of buyers waiting out what has become a challenging market to define according to the latest Market Trends Housing Report from the Colorado Association of REALTORS® (CAR) and analysis from the Association’s spokespersons across Colorado.
In the seven-county Denver-metro area, 8,713 new listings (6,666 single family/2,047 condo-townhome) hit the market, up nearly 20% from the same time last year. The nearly 15,500 active listings (single family and condo/townhome) across the Denver-metro area in April reflect a nearly 37% increase over April 2024. Statewide, the more than 14,000 new listings (10,981 single family/3,131 condo-townhome) were up more than 17% from a year prior and the more than 27,000 active listings signal a 33% increase over April 2024.
Challenging an already selective buyer pool, median pricing for single-family homes in the seven-county Denver area rose 1.2% from March to April to $632,500 and 1.3% for condo/ townhomes to $395,000.
Statewide, the median price of a single-family home rose 2.8% from March to April at $599,000. For the condo-townhome market, pricing slid 0.5% between March and April to $407,000, down 5.1% from a year ago.
“Despite the influx of listings, buyers remain cautious. Concerns about interest rates and the broader economy are causing many to pause. This feels like a typical spring market in terms of inventory, but consumer hesitation is putting a damper on activity. If mortgage rates decline and the economic outlook improves, we may see a delayed spring market unfold this fall,”
said Boulder/Broomfield-area REALTOR® Kelly Moye.
“Is the housing market stagnant? It feels that way to many clients and REALTORS® alike. With listings up 30% across all properties and the median price remaining unchanged, many sellers are finding a lack of buyer demand. And this is a trend in other areas across the state and the country. Total housing inventory was up 8.1% month over month in April nationwide and 20% year over year, yet house prices remain elevated,” said Colorado Springs-area REALTOR® Patrick Muldoon.
“The fear factor is real. Buyers are worrying about prices and what’s next, while sellers are lowering their prices and wondering how many showings before they receive an offer. It’s obvious that, unless the home is well priced, very clean, and in good repair, it may experience a longer shelf life on the market,” said Aurora REALTOR® Sunny Banka.
“With more homes for sale this spring than we’ve seen in over 12 years, one might expect buyers to be eager to jump into a market filled with plentiful options. However, finding motivated buyers in April wasn’t exactly an easy task… unrelenting interest rates, economic uncertainty, and overall inflationary pressures have kept buyer motivation low across the country this spring,” said Denver County-area REALTOR® Cooper Thayer.
“That’s the thing about a balanced market. They’re kind of boring. Compared to the heyday of post pandemic purchase pandemonium, buyers now have the luxury to look at multiple houses for sale in just about any price range; they also have more time to make a decision since more homes are available and only buyers with the stoutest of hearts (and pocketbooks) are actively buying. Negotiations for things like seller concessions for interest rate buy-downs and inspection items to have repairs completed before closing have once again become commonplace,” said Fort Collins-area REALTOR® Chris Hardy.
Taking a more in-depth look at some of the state’s local market data and conditions, the Colorado Association of REALTORS® Market Trends spokespersons provided the following assessments:
AURORA
“Without a doubt, 2025 is proving to be one of the more disappointing housing markets for a great number of sellers. The fear factor is real. Buyers are worrying about prices and what’s next, while sellers are lowering their prices and wondering how many showings before they receive an offer. It’s obvious that, unless the home is well priced, very clean, and in good repair, it may experience a longer shelf life on the market. The inventory is up more than 35% in the Aurora, Adams County, and Arapahoe County areas. Sellers are getting creative with the incentives they are offering so they may move on to their next place in life. I am seeing landlords who cannot get out of the rental business soon enough with all the new landlord/tenant regulations.
“It seems that many of my sellers are looking at states that are pushing through fewer regulations or states that might be more affordable and less eager to put a tax or fee on many goods and services. Wyoming, Tennessee, Florida, Utah, and Idaho are states that all appear more inviting than Colorado right now, and are locations many of my sellers are movingor are 1031 exchanging their rental properties - to. I have to wonder if that is where the buyers are going as well.
“Inventory is up 38%. Closed sales are up about 4%. Clearly
the inventory is not being absorbed. This is a fantastic opportunity for buyers. They have more choices, and a longer time to make the decision. Days on the market is approximately 35 days, which is also an increase over this time last year. The median home price varies depending on the location. The median price in zip code 80011, (near CU Health Science Center and Children's Hospital) is $451,000. Moving south to the 80013-zip code, which is more central Aurora the median price is $498,000. The south section of Aurora, zip code 80015 the median price is at $538,000 and the southeast area, zip code 80016 is at a median price of $799,000, which is down considerably from one year ago. To the west, zip code 80111 has a median price of $1,249,500. There is truly something for everyone,” said Aurora REALTOR® Sunny Banka.
BOULDER/BROOMFIELD COUNTIES
“Spring has arrived in Boulder and Broomfield counties, bringing with it the long-anticipated boost in housing inventory. New listings are up 17% compared to earlier in the year, giving buyers more options to explore. However, increased selection hasn't translated into increased sales— closings in both counties are down approximately 4%.
“The Boulder market is seeing only modest appreciation, with the median sales price ticking up 1.5% since the beginning of the year. Meanwhile, Broomfield is showing stronger momentum with a 7.2% increase in median prices, outperforming its neighbor to the west.
“Historically, much of our annual home appreciation occurs between January and July. Unless the market picks up pace, Boulder could be facing a relatively flat year in terms of price growth. Homes that are properly priced continue to sell close to asking, but market timing varies by location. In Boulder, homes are averaging 68 days on the market, while Broomfield properties are selling faster, at an average of 48 days.
“Despite the influx of listings, buyers remain cautious. Concerns about interest rates and the broader economy are causing many to pause. This feels like a typical spring market in terms of inventory, but consumer hesitation is putting a damper on activity. If mortgage rates decline and the economic outlook improves, we may see a delayed spring market unfold this fall,” said Boulder/Broomfield-area REALTOR® Kelly Moye.
COLORADO SPRINGS
“Is the housing market stagnant? It feels that way to many clients and REALTORS® alike. With listings up 30% across all properties and the median price remaining unchanged, many sellers are finding a lack of buyer demand. And this is a trend in other areas across the state and the country. Total housing inventory was up 8.1% month over month in April nationwide and 20% year over year, and yet house prices remain elevated.
“U.S. home prices are slowing down. There was an increase of just 4.5% year over year in the first quarter of 2025, which was the smallest increase since Q3 2023. Are we beginning to see that flip now? We are in April, what would typically be the start of the spring selling season, and homes are sitting. Sellers in certain price ranges go weeks without a single showing. Key indicators may now be at play. Q1 2025 showed negative GDP growth, and the New York Empire State Manufacturing index fell 8.1 points in April, recording the third negative reading in 2025. Are the trade wars being felt by consumers, or is this a carryover from last year when economic weakness started to creep into the economy and tariffs are beginning to now show that weakness?
“As a veteran agent of 30 years, I can honestly say I have never seen a housing market like this. We continue to be able to sell the upper-end homes and yet, the entry level homes are sitting and often withdrawing from the market. The NED (Notice of Election and Demand) list locally is beginning to increase dramatically. Showing that economic pressures are beginning to be felt by consumers. And as of the writing of this report, we have over 100 short sales on the MLS. Something that was just a myth 18 months ago. Sellers will have to be serious about price and condition to stick out among this added competition, and even then, may find that buyers opt to rent than buy until everyone is more secure about what
the economy is doing,” said Colorado Springs-area REALTOR® Patrick Muldoon.
CRESTED BUTTE/GUNNISON
“This time of year in Crested Butte and Gunnison is when we focus on moving out of the winter and preparing for the summer. The snow is melting, hiking and biking trails are starting to open, things are turning green, and we know that a busy summer will be here before we know it. Many sellers took properties off the market for the off-season, and we are starting to see new or renewed inventory come up for sale. Summer is our busiest time for showings, contracts and closings and we are hopeful that this summer will bring some exciting new properties to the market for buyers to consider.
“The Crested Butte area continues to see sales slightly ahead of 2024 with 74 sales through April vs. 67 last year and dollar volume is up slightly from $89 million last year to $94 million this year. Inventory numbers are almost identical, but it has shifted with about 10% less single-family homes for sale than this time in 2024 and there are 7% more condos and townhomes for sale.
“The Gunnison market has seen more sales than last year (48 vs. 43), but with the dollar volume down about 28%, it is clear that lower priced properties are driving those sales ($33.8 million in 2024 vs. $24.1 million in 2025). If you have been waiting to buy something in the Gunnison area, you should be looking at the market because the inventory is up 50% from this time last year and this is especially true for singlefamily homes. We will see if the inventory is going to continue to increase as we head into the summer or if people just put their homes on the market earlier this year than last year.
“We continue to see very different attitudes from buyers and sellers. Buyers are cautious and patient, but also thinking that a 2008 style correction is coming. Sellers are bullish and seeing dollar signs thinking that the post-Covid market frenzy is still possible. Neither of these views are correct. The reality is that sellers should be paying close attention to recent sales and active listings that may be sitting on the market. Properties that are well located, move-in ready, and priced correctly are selling quickly and sometimes with multiple
offers. So, if you are looking at listings that are sitting on the market, that is a sign that buyers are not thinking the price is justified and you should price yours accordingly. ‘You never get a second chance to make a first impression’ is a phrase that sellers should keep in mind so they don’t miss out on a sale by pushing the envelope.
“With the uncertainty in our economy, buyers have reason to be cautious, but there is no sign that a huge correction is coming, and they could find themselves waiting for years for a change that may never happen. Real estate in our area has appreciated over time so, if you are looking to buy a place to enjoy in the valley, there is no time like the present. ‘The best time to plant a tree was 20 years ago, the second-best time in now’ also applies to buying your Crested Butte or Gunnison home,” said Crested Butte-area REALTOR® Molly Eldridge.
DENVER METRO (11-County)
“With more homes for sale this spring than we’ve seen in over 12 years, one might expect buyers to be eager to jump into a market filled with plentiful options. However, finding motivated buyers in April wasn’t exactly an easy task in the Denver-metro area. Year-to-date through last month, nearly 30,000 new listings hit the market, a 22.5% jump compared to the same time period last year. That inventory has been much slower to leave the market than usual, as the number of sold listings increased by just 1.2% year-to-date versus last year. The resulting spike in inventory has forced intense competition between listings, pushing median sales prices down a slight 0.5% last month, as 3.6 months of supply of listings remain on the market awaiting buyers.
“Unrelenting interest rates, economic uncertainty, and overall inflationary pressures have kept buyer motivation low across the country this spring. Home sellers today are faced with the difficult reality of a slowing market, but Denver-metro area real estate is far from being in trouble. More than $3.2 billion worth of homes exchanged hands last month, continuing a three-year trend of increasing sales volume in the Mile High City. Naturally, for the listings that find a buyer, average time on market has plummeted since the beginning of the year –down to 37 days in April from January’s peak of 60 days.
“Patience is not only a virtue in today’s real estate market, but a necessity for sellers seeking to find success. While buyers have more time, more options, and less motivation than in recent years, there is certainly not a lack of demand in the Denver Metro Area. Creativity and ingenuity thrive in tougher markets, and we’re seeing home sellers and REALTORS® take unique approaches to differentiate their listings and incentivize buyers to continue pursuing homeownership in inclement conditions. Stay patient, stay positive, and stay realistic, and you can still thrive as we enter the summer,” said Denver County-area REALTOR® Cooper Thayer.
DURANGO/LA PLATA COUNTY
“La Plata County had a phenomenal April for residential sales, with an 18.9% increase in sales and a 15% increase in inventory over April 2024-both spurred on by an extremely light winter as buyers got a jump on spring. This said, the median price is more than 11% lower than in April 2024.
“Breaking it down, the single-family market has had a 21.6% increase year to date in new listings and 16% in sold listings, with the median up year to date 2%. With this many more single-family homes on the market, it will have a significant impact on how the year is going to play out.
“The condo and townhome market is struggling somewhat in La Plata County. Year to date, we’re up 6% in the number of new listings, but sales are down 13.6% and the median has fallen 1.6%. It feels strongly like a buyer’s market on the ground, with more motivated sellers and prices to reflect, yet 2024 year to date may have just felt like a glitch or bump in the market, as the number of sales in 2025 is about the same as year-to-date 2023 experienced.
“Breaking down the areas: Bayfield is absolutely chugging with new inventory available. They’ve had six condos/townhomes sell already in 2025 which may not sound like much but, this is just the start of a lot of new, affordable inventory.
“Bayfield rural properties (as well as our resort) are usually a bellwether of a changing market. Inventory of homes for sale is 80% higher than April 2024, the median price is down 4% in 2025, and the month’s supply jumped 87% over last year. continued on
“The Purgatory and greater resort area single-family market has jumped from just over a two-month inventory of homes for sale last April to an eight-month supply this year. Condos and townhomes are up to a nine-month supply. Having a terrible winter has not helped this market.
“As usual, Durango in town homes buck any negative trends and the market is still doing well. Our in-town market is insulated from many changes, as it remains the core center of where people from other areas want to move. Because of this, you can usually count on it being the strongest (or least soft) of all our county markets.
“For single-family homes, our inventory is greatest in the $1-2 million range, and our $200,000-400,000 homes make up 51% of all inventory for townhomes and condos combined. As far as sales are concerned, $500,000-700,000 single-family homes make up 52% of last year’s sales. For townhomes and condos combined, the $500-700,000 range is the greatest portion of our sales at 23%.
“Just north of us, in San Juan County, it’s of interest to note that the single-family inventory has jumped to a 10-month supply of homes. The median price of a home in Silverton, Colorado in 2025 stands at $510,000,” said La Plata Countyarea REALTOR® Heather Erb.
EVERGREEN/MOUNTAIN METRO
“The Colorado foothills real estate market continues to experience significant changes as we move into April 2025. Inventory levels surged, with active listings increasing 60.2% for single-family homes and 74.8% for townhouse-condo properties compared to the same period last year. This rise in inventory is accompanied by a notable increase in new listings, up 29.6% for single-family homes and 17.4% for townhouse-condo properties.
“Sales activity remains somewhat robust, with sold listings up 4.5% for single-family homes and 2.2% for townhouse-condo properties. However, since new listings are outpacing sales and inventory is growing, the market is seeing mixed trends in pricing. The median sales price for single-family homes has increased 1.1% to $700,000 in the general foothills market. However, when looking at Evergreen-Conifer specifically, the median sales price decreased 19.4% to $904,500, and the average sales price dropped 13.7% to just over $1 million. This
is a significant shift for this local market.
“Days on market increased significantly, with single-family homes taking 18.5% longer to sell and townhouse-condo properties taking 35.5% longer. This trend is likely heavily affected by the difficulty in finding homeowner’s insurance for these properties, as many condo HOAs are not able to renew building insurance, which now must be covered individually by each owner. The overall trend indicates a slowing pace in the market, possibly due to the increased inventory and more cautious buyer behavior,” said Evergreen-area REALTOR® Julia Purrington Paluck.
FORT COLLINS
“The numbers for April look good. Compared to last year at this time, new listings are up, total sales are up, and median sales price is flat. Consumers appear to be making adjustments to the ‘new normal’ of mortgage interest rates in the high six-percent range. With these kinds of numbers, you’d think there’d be more to crow about. But when the question comes up from both clients and colleagues about ‘How’s the market?’ the answer is a notably muted ‘Meh.’
“Perhaps that’s the biggest indicator that we have entered a more balanced market. Buyer enthusiasm is muted but steady interest remains for properties that are well-priced and in good condition. Seller’s enthusiasm is muted as they come to terms with the need to provide concessions to compete for buyer attention, realistic pricing, and patience for buyers to make a decision on making an offer.
“There are still pockets of competitive offers, homes under contract in days rather than weeks, and all cash deals closing quickly – but those have become the exception rather than the norm. Value sensitivity is being felt across the continuum of price brackets. Sellers choosing to push the limits on list prices for their homes will often be met with crickets when it comes to showings.
“That’s the thing about a balanced market. They’re kind of boring. Compared to the heyday of post pandemic purchase pandemonium, buyers now have the luxury to look at multiple houses for sale in just about any price range; they also have more time to make a decision since more homes are available and only buyers with the stoutest of hearts (and pocketbooks) are actively buying. Negotiations for things like
seller concessions for interest rate buy-downs and inspection items to have repairs completed before closing have once again become commonplace,” said Fort Collins-area REALTOR® Chris Hardy.
GRAND COUNTY
“Heading into the warmer months, the Grand County real estate market is seeing some transitional activity and showing us that we are going through a shifting dynamic between buyers and sellers. Many buyers are looking but they’re being more cautious and waiting for the right deal or waiting for more summer inventory that is expected to come, as always, during the summer months at many Colorado resort areas.
“Sellers in Winter Park and Granby Ranch are getting their nightly rentals in good shape after being rented out all winter, while we see the closing of the ski areas in May and now work on getting the popular mountain biking courses set up for summer. Sellers in these sought-after locations, including Grand Lake, are positioning themselves to go to market and take advantage of their equity and sell while prices are still holding, and the market is not stagnant.
“Like most mountain ski and lake resort areas of Colorado, the Inventory levels are trending upward. We always see more inventory in the summer months and, with supply increasing, that means more days on market and more leverage for buyers to find the right property and even get it at a lower price including some seller concessions. So, we are definitely seeing more of a balanced market between buyers and sellers approaching us,” said Grand County REALTOR® Monica Graves.
Here are some single-family home stats to support this narrative:
PUEBLO
“The Pueblo real estate market is showing some positive signs with new listings up 7.4%, pending sales up 25.7% in April and 2.1% year to date. Sold listings were down in April however, that will change in the next few months with such strong numbers in current pending sales.
“Median pricing increased to $329,900 and is up 7.9% over April 2024. Year-to-date median price is up to $315000. Our percent-of-list-price received was up to 98.8% in April. Average days on market is still at 101 and up to 105 year-to-date. We have 813 active listings, an increase of 8.5% over April 2024.
“Buyers have a much better selection of homes to see with a 4.9-month supply of homes for sale. Open houses haven't seemed to help get buyers out just yet. Showings are up a little, but buyers are cautious about writing an offer as those higher interest rates continue to be a problem for prospective buyers.
“New building permits in April hit 33 but are down 17% year to date. Pueblo West had the most new permits with 21 of the total 33,” said Pueblo-area REALTOR® David Anderson.
SAN LUIS VALLEY
“As of April 2025, the six counties of Colorado's San Luis ValleyAlamosa, Saguache, Rio Grande, Mineral, Costilla, and Conejos - present a dynamic and varied housing market. Overall, inventory is on the rise giving buyers more options, while median prices are seeing sharp increases in several counties, particularly Saguache (+105%), Conejos (+85.9%), and Mineral (+67.5%). At the same time, home sales are slowing in counties like Alamosa (–33.3%) and Conejos (–80%), and average days on market has expanded dramatically in some areas, including Conejos (281 days, +585.4%) and Costilla (161 days, +222.0%).
“Counties like Mineral and Saguache are experiencing hot demand with fast-moving properties (5 and 107 days on market, respectively) and elevated prices, suggesting buyer competition despite limited sales volume. In contrast, Rio Grande and Alamosa show more balanced with steady or declining sales, moderate pricing, and stable market time. Conejos and Costilla are emerging as potential buyer’s markets with growing inventories, declining list-to-sale price
continued on next page
ratios, and longer time to close, despite notable median price gains.
“Year-to-date trends underscore the broader picture: while price appreciation is driving value and growth in Rio Grande, Mineral, and Conejos, sales and listings are down significantly in Conejos and Costilla, suggesting softening demand. Meanwhile, Alamosa remains relatively affordable and stable with improved list-to-sale ratios (97.5%) and faster turnaround (96 DOM), despite a dip in prices. Overall, the San Luis Valley remains a diverse real estate environment where strategic timing and localized market knowledge are essential for both buyers and sellers,” said San Luis Valley, REALTOR® Megan Bello.
STEAMBOAT SPRINGS
“April in Steamboat means the closing of the ski season, spring break for the locals and preparation for new listings to hit the market. If a seller wants to get a jump on the selling season, they will list in April however, the bulk of the spring listings will come on the market in May/June. New listings for all of Routt County (single & multi-family) totaled 14. There are a total of 52 homes on the market in Steamboat Springs, up from 32 last year. The lowest priced home is $889,000 and the highest is $15 million. Fifteen homes have incurred a price reduction. Pending home sales for Steamboat are 24 with median days on market of six and average of 47. Multifamily inventory in Steamboat Springs has 153 units for sale compared to 60 last year; 25 of these listings are new construction that are at various stages of development from dirt to nearing completion. Even with the additional days that new construction adds to the overall stats, days on market until sale for multi-family is 48 days, which is less than 55 last year.
“In the neighboring communities of Hayden and Oak Creek, more affordable options can be found, although inventory is more limited. Hayden currently has two multi-family homes for sale where the average sales price year-to-date is $404,750; the Oak Creek (Stagecoach) area has three units for sale and their average sales price year-to-date is $431,000. Singlefamily homes in Stagecoach where there is a state park, with more, newer construction that generates higher sales prices that impact the overall Oak Creek numbers producing an average sales price year-to-date of $946,750. Hayden rises to the top for affordability with homes at $641,222 for average sales price for the year. The Clark (Elk River valley) realized
three new listings for a total inventory of six for sale. With four sales so far this year, the average sales price is $1,358,500 with the median price just over $100,000 less.
“Inventory is limited within price ranges, and the result of that is sellers on average in Steamboat and Oak Creek are getting approximately 97% of their list price for homes and 98% for condos/townhomes. Hayden and Clark are getting approximately 95% of their list price for single-family. Clark does not have multi-family for primary occupancy and sellers of Hayden’s multi-family are receiving over 100% which is similar to last year. While the volume of multiple offers in Routt County is fewer, it is important for buyers to understand that they still happen,” said Steamboat Springs-area REALTOR® Marci Valicenti.
SUMMIT, PARK, AND LAKE COUNTIES
“Like an early flower nudging through thawing ground, the April real estate market in Colorado’s mountain counties signaled the start of a shift. After months where prices climbed, even as buyers pulled back, the natural cycle of supply and demand is beginning to rebalance.
“In Summit and Park counties, inventory blossomed—listings grew 47% over last April – while buyers remained cautious, leading to a 15% drop in sales. Just as overcrowding in a garden can weaken the bloom, this excess supply pushed median residential prices down 17.7%, a realignment long anticipated by those watching the growing disparity.
“Much like spring in the Rockies, the market remains fickle. Inventory continues to grow – now at 729 residential listings, up 129 from March – but sales have yet to catch up. It’s a shifting season, and with the winds of buyer sentiment still swirling, prices may continue to sway before finding firmer ground,” said Summit-area REALTOR® Dana Cottrell.
Average Single-Family Home
Sale Prices
(April 2025):
Summit County: $2,294,391, (25 sales, down 7 from April ‘24)
Park County: $509,944, (18 sales, up 1 from April ‘24)
Lake County : $ - (0 sales, down 4 from April ‘24)
Average Multi-Family Home Sale Prices (April 2025):
Summit County: $814,348, (64 sales, down 7 from April ‘24)
Of the active listings, the most affordable property is a mobile home in Park County priced at $125,000. On the other end of the spectrum, a high-end, eight bed, nine bath, single-family home in Breckenridge is listed for $21 million. Notably, there are currently 45 properties on the market priced above $5 million.
April saw 103 residential sales spanning a broad price range:
·Lowest Sale: $230,000 for a single-family home in Park County
·Highest Sale: $6,000,000 for a home in Breckenridge
·47% of homes sold for more than $1 million
·49% of closings were all-cash deals—a jump of 13% from March, signaling continued strength among wellcapitalized buyers.
TELLURIDE
“Colorado’s local real estate markets are all in turmoil, just not all in the same way. The Telluride market is slowing down significantly in the top third price range. That group of buyers would seem to be the most able to ride out the chaos in our economy, but maybe they are the most sophisticated financially and therefore the most concerned. The parts of the market that are reasonably holding up are the middle and lower price ranges. April sales numbers were $56.6 million with 42 sales. That’s a drop of 33% as compared to April 2024 sales of just over $85 million. However, there were only two less sales this April than April 2024.
“The first four months of 2025 have produced $237.1 million across 147 transactions, representing a 28% drop in the dollar amount of sales as compared to the first four months of 2024, with only a 1% drop in the number of sales for the same period. Inventory is up about 10% across all price points with price reductions happening weekly since the first of the year. Even with this significant slowing of the market, there are one or two transactions every month that sale at full price or more. If a buyer truly sees the perfect property at least in their eyes, they’ll pay what they need to get it,” said Telluride-area REALTOR® George Harvey.
month were positive 3.1% which brings the year to date positive 14.4%, giving buyers more options to purchase and increasing the overall new listings 25.3% for the year.
“Months’ supply closed out at 5.9 months which would indicate a stable market supply versus demand.
Pending sales have declined 17.3% which is somewhat misleading as in 2024 there was a significant inventory of new construction that was hitting the market and bumped the pending and closed sales performance. April finished with a minus 19.5% in unit sales however, the dollar volume was only off 6.8% which is the continuing.
Trends for the past couple of years:
•April 2025 < $1 million 21% of units and 5% of dollars, $1-2 million 26% of units and 10% of dollars, $5 million-plus 22% of units and 57% of dollars.
• Year to date- <1 million 30% units and 7.9% of dollars, $1-2 million 26.8% of units and 13.7% of dollars, $5 million + 12% of units and 44.5% of dollars
“The trend in sales is coordinating with the inventory of listings and creating a new market dynamic in sales by price niche. The turbulence in macro-economic conditions will continue to be a catalyst in our market dynamics as the upper price niches are predominately cash buyers and not as effected by volatility in mortgage rates. The cash buyers may also be looking at a more stable investment environment in real estate versus other forms of investments. We are entering our summer sales season, and the increased inventory bodes well for market activity,” said Vail-area REALTOR® Mike Budd.
The Colorado Association of REALTORS® Monthly Market Statistical Reports are prepared by Showing Time, a leading showing software and market stats service provider to the residential real estate industry and are based upon data provided by Multiple Listing Services (MLS) in Colorado. The October 2024 reports represent all MLS-listed residential real estate transactions in the state. The metrics do not include “For Sale by Owner” transactions or all new construction. CAR’s Housing Affordability Index, a measure of how affordable a region’s housing is to its consumers, is based on interest rates, median sales prices and median income by county.
“April continued the trend of the year to date with a market that showed positives and negatives. New listings for the
The complete reports cited in this press release, as well as county reports are available online at: http://www.coloradorealtors.com/markettrends/
Welcome back to this quarter’s edition of Words from a Loan Officer. I must apologize for missing last quarter, you know the story: the dog ate my article, I was sick, or my favorite excuse, “I was in a closing”. I’d advise you to be careful using that last excuse, because if the agents or loan officers I tend to hear that excuse from were actually in a closing every time I received it, they would’ve retired decades ago.
Let’s talk a little bit about contingent offers. We all know that four years ago, if you had a buyer submit an offer that was contingent on the sale of their present home, it wasn’t only going to the bottom of the stack, the paper it was written on would be used in the water closet. Today, we are in a much different market, yet people are still shying away from contingent offers. There are many reasons for this. Yes, sellers are still worried that the contingency may fall through. But I would also contend that buyers have become spoiled in not having to rush – they’re used to being able to take their time in a move; have the walls painted, the flooring replaced, new appliances delivered and not feel so rushed to do everything in a very stressful 72 hour weekend.
Much Ado About Bridge Loans
From a loan officer’s standpoint, for a borrower to qualify for a non-contingent offer, I am concerned with two things -can the borrower qualify for two mortgage payments at once, and if, the borrower is not using funds from the sale of their existing home for their down payment, then where will the funds come from? A lot of real estate agents, especially more senior agents, would immediately think “bridge loan”.
Candidly speaking, bridge loans have become very few and far between these days. It’s not that you can’t find them, but very few banks offer them. Consider that a bank is offering to front a consumer money for that next purchase and possibly give them a break on qualifying for two mortgage payments with the hopes that the consumer will come to them for the final loan on the new property. The bridge loan was a money loser provided with hopes that the bank would get the final, end loan. The problem was, the banks offering this money loser of a loan often were not offering the best rate on the final loan, and the consumer would go elsewhere for that final loan, leaving the bridge loan bank high and dry. This is one of the biggest reasons true bridge loans are very hard to find.
My Kingdom for a Down Payment
For me, the lazy loan officer, my first and easiest solution is that I have a borrower that can qualify for both housing payments and has a source to pull the minimum 5.0% down payment from. I fully respect that not many people have $25,00050,000 sitting in a savings account – Americans are still saving at a shameful level. My fastest and easiest solution is a 401k loan. As a disclaimer, I must first state that I am not a licensed financial planner, so please confirm everything that I am about to say with a licensed professional. Most 401k administrators will allow a consumer to borrow up to 50% of what is in a 401k, up to $50,000, tax and penalty free for the purchase of a primary residence, regardless of age. This is a loan and does have to be re-paid with interest, but even the interest that is paid is going back to the consumer. It also has to be repaid, typically over a shorter, 3–5-year period, making the payments
continued on next page
somewhat steep – something we don’t typically care too much about as it is our intention to be paying off this loan in 30-90 days. But Mathew, won’t the borrower be paying mortgage insurance and be forced to refinance the mortgage once they sell their existing home to get the lower payment they desire? For conventional (Fannie Mae and Freddie Mac) borrowers, the simple answer is no. Conventional loans are required to have a feature called “recasting”. Typically, if a consumer comes to their mortgage company with a large principal reduction payment, as they would do after selling their existing home, that payment would pay down the principal balance heavily, but the loan payment would remain the same, they will just pay off the loan in a much shorter period. What a recast allows a consumer to do is to make that sizeable principal reduction payment and request from the bank to adjust their monthly payment down to where they would still pay off the loan in the original amortization period, NOT just pay off the loan in a shorter timeframe. This reduces their monthly payment to where it would’ve been had they put all those funds down in the first place. The beauty of recasting is that it avoids the costs of a refinance along with the risk of a possible rate increase in that timeframe, and if the consumer is paying down the balance below 78-80% loan to value, based on the original value of the home, the mortgage insurance may be removed as well. This is an excellent option that not all loan officers love to sell, as they may be trying to squeeze two transactions out of one.
What Home Light Through Yonder Window Breaks?
Now here is where capitalism will always find a way. There are companies that have come up with product lines that will also help with this issue. On one end of the spectrum, there are companies such as Open Door that will come in and buy a property with cash and close very quickly, allowing an owner to get rid of a property, it’s payment, and access the equity in the property. However, to do so, from this loan officer’s understanding, the owner will be taking a 4-6% haircut on the property’s value. Many consumers will still accept this cost for the convenience of a quick, cash sale What the readers of this article will not like is that, if a consumer chooses to use an institution such as Open Door, they, the real estate agent practitioner, is removed from the transaction.
However, there are other institutions coming up with options that meet in the middle. Home Light is a company that offers a product that will allow a consumer to access 70% of the equity out of their property, combined loan to value, on a zero interest loan for 90 days for the purchase of another primary residence, all while guaranteeing the sale of the existing
property. Based on that guarantee, the consumer is able to obtain a new home loan without having to include their existing housing payment in their debt to income ratio. The beautiful part to this readership is that in this scenario, the existing real estate agent is preserved as the listing agent on the property. That agent has 90 days to sell the property after the closing of the new property at their highest and best price. If the property hasn’t sold in that first 90 days, Home Light will begin to charge interest on the cash advance (the funds that went to 70% combined loan to value for the down payment on the new property) and re-evaluate the price at which the property is listed at. They may instruct a reduction in price, but the real estate agent remains the listing agent until the home is sold. Now, Home Light is not doing all this for free, they will charge a 2.4% fee on the sale price for this offering, however, I would contend that it is still less expensive than other options. Home Light also offers a product for consumers that have their own funds for the new down payment and are only looking for a guarantee of sale that only charges a 1.5% fee. This allows the consumer to purchase the next home without the existing housing payment being counted in their debt-to-income ratios.
We Know What We Are, but Know Not What We May Be
Lastly, they say a sucker is born every minute, for the rest of this article, I will be that sucker. Why do we have to do every transaction non-contingent? I remember a day when McDonalds sold more than one flavor of ice cream, a day when I didn’t spend a quarter of my paycheck on television subscriptions, and a day when people sold their old home Friday morning and bought their new home on Friday afternoon. Anyone working in this industry knows that home affordability is one of the top issues on citizens’ minds these days. Why add another hurdle to homeowners wanting to upgrade homes by only accepting non-contingent offers? I am asking the reader to help me in a mindset shift, just as we are asking consumers to understand that rates in the six percent range are normal and economically healthy. Let’s help the consumer get back to a time when you didn’t feel pressure to have to buy before you sell, it can happen simultaneously, and for decades, it did. Now, where do I get in line for that gorgeous new Pinto?
Mathew Schulz, CML, is the President of Firelight Mortgage Consultants in Greenwood Village, Colo., a mortgage company that he has owned for 15 years. You can reach him at mschulz@FirelightMortgage.com
LEADER SPOTLIGHT SEAN DOUGHERTY
CAR Northeast District Vice President
RE/MAX Alliance-FTC South
How long have you been a REALTOR®? 25th year for me.
How/why did you decide to get involved with association work? I started off by getting involved at the state level to meet folks from around the state, both for referrals and learning from them. I enjoy being able to participate at all levels.
What is your favorite thing about being a REALTOR®?
I wake up unemployed every day and it’s something new every day. I love helping people and being creative with solutions.
What career advice would you give your younger self?
Listen before responding. Truly hear what folks are telling you.
How do you motivate yourself in your career?
Loving what I do motivates me and my clients motivate me.
What do you do in your free time?
What is free time? Haha. I do get to putter in my shop, get to enjoy my vehicles, love to travel with my wife, and enjoy trying new restaurants.
What’s the best place you’ve traveled to?
Caye Caulker, Belize probably tops the list. Although Playa Escondida in Sayulita, Mexico, is a close second.
SEAN DOUGHERTY AND HIS WIFE MARY
SEAN ENJOYING HIS VEHICLES.
AE SPOTLIGHT ANNE MARIE SMITH
Anne Marie Smith CEO for the Pikes Peak Association of REALTORS® (PPAR)
How long have you been an AE and how did you get your start? I have served two months as an AE, but my journey with PPAR began 46 years ago when I started by loading data onto our Association’s first computer.
What do you love most about the job? I absolutely love my members and my team—they make every day rewarding and meaningful.
What is one of the challenges that your association is currently facing or that you expect to face in the next few years? One of the challenges our association is currently facing is continuing to engage and support our members in a rapidly changing real estate landscape. We are also focused on helping our members fully understand and appreciate the value of their PPAR membership, ensuring they take advantage of the resources, advocacy, and support we provide.
Is there something your association does regularly to give back to the community? PPAR is deeply committed to giving back to the community through various initiatives throughout the year. One of our key efforts is supporting Springs Rescue Mission, where we organize coat and undergarment drives and collect food donations to help provide meals for the homeless. Our association actively participates in multiple community projects, reinforcing our dedication to making a positive impact beyond real estate.
What would your members be most surprised by about your job? Members might be surprised by how much goes on behind the scenes to ensure smooth operations— from advocacy efforts to managing complex systems that support their business.
Which talent would you most like to have? I would love to have the ability to speak confidently and comfortably in front of large groups, making presentations, and discussions feel as natural as one-on-one conversations.
What is your favorite TV (or streaming) show to watch? My favorite show to watch is Paradise, the American political thriller starring Sterling K. Brown and James Marsden. It’s so good!
Motto or piece of advice you try to live by? Let them. I focus on what I can control and trust that everything else will fall into place.
ANNE MARIE SMITH
ANNE MARIE HELPING AT VARIOUS PPAR EVENTS.
Maximize Your CAR Membership With These Benefit Partners
CTMECONTRACTS, AN MRI
SOFTWARE COMPANY
29% off in first year for electronic contract software.
LIVEPAD
CAR Agents provide homebuyers with a paperless, mobile-friendly experience while touring properties with LivePad.
EXODUS MOVING AND STORAGE
Moving your office or office equipment? Exodus can help. Call 800-549-1488.
DOMII
Get felony checks on clients for Free using code SCCAR1. Additional tools can be purchased at a discount with code BC4345.
REALTORS® PROPERTY RESOURCE
RPR is the largest property database in the nation, FREE to all REALTORS®. Go to narrpr.com or download the app store for tools.
UPS
Members enjoy savings like 50% off Domestic Next Day, 30% off Ground, 50% off International Exports & and more.
AVIS
Save up to 35% off base rates with PAY NOW on your next car rental* when you use offer code A715042, plus enjoy additional offers.
VAULT HEALTH INSURANCE
Vault offers customized health insurance benefit packages that offer measurable value for CAR members.
KAYDOH VIDEO MESSAGING
Personalize Your Video Message in Just a Few Clicks. CAR members save on set-up fee.
WILLIAMS UNDERWRITING GROUP
Real Estate E&O Insurance - Additional
Coverage Endorsement at no additional premium for members.
1QR
Elevate and customize your real estate marketing efforts with 1QR. $40 off for CAR members with code CAR-member.
IXACT CRM
Organize your contact data and get more referrals. Get IXACT Contact CRM FREE for 5 Weeks!
ODP BUSINESS SOLUTIONS
CAR Members can Save up to 75% off on ODP Business Solutions Best Value List of preferred products!
CONSTANT CONTACT
Receive 20% off six months, or 25% off the full year (which is an additional 10% off the standard discounts!)
LENOVO
Save up to 50% off the everyday public web price of the entire line of Lenovo products.
