c o lo r a d o
JULY 2019
REALTOR
®
MAGAZINE
Official Magazine of the Colorado Association of REALTORS®
iBUYERS SHAKE UP DENVER-AREA MARKET Page 18
PLUS... Be Afraid - Your Misuse of the Transaction Brokerage Relationship Page 6 Hometown Hero Judy Pitt Page 26
c o lo r a d o
REALTOR
®
MAGAZINE
The COLORADO REALTOR® is published by the Colorado Association of REALTORS® 309 Inverness Way South Englewood, CO 80112 (303) 790-7099 or 1-800-944-6550 FAX (303) 790-7299 or 1-800-317-3689
JULY 2019
c o lo r a d o
REALTOR
MAGAZINE
IN THIS ISSUE:
EDITOR: Lisa Dryer-Hansmeier, V.P. of Member Services lhansmeier@coloradorealtors.com DESIGNER: Monica Panczer, Creative Marketing Specialist monica@coloradorealtors.com The Colorado Association of REALTORS® assumes no responsibility for return of unsolicited manu scripts, photographs or art. The acceptance of advertising by the Colorado REALTOR® does not indicate approval or endorsement of the advertiser or his product by the Colorado Association of REALTORS®. The Colorado Association of REALTORS® 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 the Colorado Association of REALTORS®.
®
4 REALTOR® Appreciation Day
6 Be Afraid - Your Misuse of the
Transaction Brokerage Relationship
8 REALTOR® Safety Tips 9 Real Estate SnapShot
10 Market Trends
16 CAR is Making the Grade HOMETOWN HERO JUDY PITT
26
18 iBuyers Shake up Denver Market 20 Nominate the Next CYPN 22 Alpine Health Benefits
24 Housing Legislation 2019
26 Hometown Hero - Judy Pitt
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.
28 2019 Fall Forum
31 Five Millennial Homebuying Trends 34 Lessons Learned from Two Forks 39 Free Tax Seminar
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.
40 C2EX - Take the Challenge 42 REfresh Expo
44 How to Mix and Match Design Style 48 RPAC Major Investors TAKE THE C2EX CHALLENGE TODAY FOR FREE!
3
40
50 Get Involved - Government Affairs 51 RPAC Newsletter
Join me for
REALTOR® APPRECIATION DAY Greetings Colorado REALTORS®!
READ MORE
FROM THE CHAIR
READ MORE Justin Knoll
2019 READ Chair of the Colorado MORE Association of REALTORS®
READ MORE
REGISTER REGISTER REGISTER REGISTER
Between real estate transactions, vacations, and Colorado Rockies baseball, summertime can be the most wonderful – and busiest – time of the year. As a fellow REALTOR®, it feels like we will head into Autumn in the LEARN MORE blink of an eye. But on July 31st, the CAR Foundation is taking time to pause, recognize, and celebrate Colorado REALTORS® at the CAR Foundation REALTOR® ApLEARN MORE preciation Day at Blue Sky Gallery – Wings Over the Rockies Air & Space Museum in Englewood from 4:00-8:00pm. Former REALTOR® and pilot Michael F. Combs will be there to share his
LEARN MORE remarkable story of perseverance. “The particular topic, ‘When Giving up in not an option,’ was what I chose to share because of my own personal battles with health and personal life,” says Combs. “Every REALTOR® has some sort of battle they are going through. The easier way is to give up LEARN MORE and the theme behind this is to never give up.” Throughout his training and complications with health, Combs had every reason to give up. If he had given up then, he wouldn’t be sharing his story today. He says, “I would have been a guy who had a dream and when adversity came, I let it go.” Combs also shares that his basic mission has never changed: providing hope for others. “I am a huge fan of the CAR Foundation and have great friends at CAR,” says Combs. “I am looking forward to coming back and inspiring REALTORS® to follow their dreams, whatever they might be.” Through sharing his story at this event, he is excited to reconnect with fellow REALTORS® and offer hope to everyone who sees his aircraft. Join us on July 31st so we can honor Colorado REALTORS® through an inspiring message, hors d'oeuvres, a silent auction, mingling, and drinks. As a bonus, you can even try your hand at the simulators!
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BE AFRAID!
YOUR MISUSE OF THE TRANSACTION BROKERAGE RELATIONSHIP LEGAL UPDATE
Scott Peterson Legal Counsel, Colorado Association of REALTORS®
Over the previous year, the Division of Real Estate has undertaken an exhaustive, line-by-line review of all existing Commission Rules and Regulations (“Commission Rules”) for Colorado licensees. The Commission Rules (Rules A-K) comprise Chapter 2 of the Real Estate Commission Manual (which each of you, I am certain, have sitting immediately available on your desk). In conjunction with Colorado license law statutes, the Commission Rules provide the framework of regulation for all Colorado licensees including, of course, every Colorado REALTOR®. In reviewing the Commission Rules, the Division of Real Estate engaged a broad, statewide cross-section of industry stakeholders for input on revisions, clarifications, eliminations and supplements to the existing rules. The final result of the rule review and all of the proposed Commission Rules (available here) will be considered by the Commissioners at their meeting on August 5, 2019. If approved, the newly-constituted rules would become effective January 1, 2020. While the bulk of the proposed changes are innocuous, I believe the significantly modified structure is substantially clearer and more legible. I would like all of you to have a look at the proposed changes via the link above. One of the important substantive changes being proposed is to the current Rule E-40. The current version of Rule E-40 reads: “A broker shall not enter into a brokerage relationship with one party as an agent and the other party as a transaction broker. A broker who works with both the buyer and seller in the same real estate transaction may do so as:
6 6
(1) a Transaction-Broker for both buyer and seller; (2) a single agent for the seller, treating the buyer as a customer; or (3) a single agent for the buyer, treating the seller as a customer.
pretation of the statute simply makes no rational sense and, more importantly, EVERY SINGLE REALTOR® IS DOING IT WRONG! In order to address the overly narrow interpretation of the current Commission Rule E-40, the industry stakeholders have proposed an interpretation that is substantially more consistent with both common practice and common sense. Proposed Rule 6.7 (which would become the new “E-40”) would read:
These options shall be disclosed and made a part of the agreement between the parties to the listing contract, right to buy contract or tenant contract, whichever is appropriate.” Based on the existing Rule, the Transaction Brokerage (“TB”) relationship is ONLY available to a licensee who is offering Uniform Duties to BOTH the buyer AND the seller in a transaction. This is regardless of the other party already having an existing brokerage relationship with another REALTOR®! In other words, if you are working with a buyer in a transaction as a TB (a very common scenario), and the seller is represented by their own agent or TB (even more common), Rule E-40 says that you, as the buyer’s TB, own identical (Uniform) duties to BOTH the buyer AND the seller. Think about the outrageous implications of the current rule!
“Brokers or Teams working with Consumers on Both Sides of the Same Transaction. Neither Brokers nor Teams may enter into a Brokerage Relationship with one Consumer as a Single Agent and the other Consumer as a Single Agent or Transaction-Broker in the same transaction. If properly disclosed, in writing (e.g. Listing Contracts), the Broker or Team that works with both Consumers in the same real estate transaction may do so as: A. A Transaction-Broker for both Consumers to the transaction; B. A Transaction-Broker for one Consumer in the transaction and treating the other Consumer as a Customer; or C. A Single Agent for one Consumer and treating the other Consumer as a Customer.”
Under the current version of Rule E-40, a REALTOR®, as the buyer’s TB, has a Commission Rule responsibility to “keep the [already represented] Seller informed as to the transaction;” and to “present all offers to the [already represented] Seller,” and to “advise the [already represented] Seller regarding the transaction,” and to “advise the [already represented] Seller to seek legal counsel.” Absolute nonsense! Moreover, imagine the reciprocal: If you are representing a seller as the listing broker and the buyer’s TB has the temerity to offer those Uniform Duties to YOUR CLIENT! I would spend my life sitting in Ethics hearings (Article 16) and the Division would be flooded with E-13 (Sign Crossing) complaints! The current inter-
Under the new proposed rule, a REALTOR® would only owe appropriate (Uniform and/or Fiduciary) Duties to a party with whom they actually have a brokerage relationship. Go figure! In other words, a REALTOR® working with a buyer as a TB would only owe Uniform Duties to the buyer (unless they also establish a TB relationship with the seller). This rule change is entirely consistent with well established practice and, importantly, avoids the issue of Article 16 violations and sign crossing. continued on next page
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Be Afraid cont...
Perhaps most importantly, the proposed rule change benefits consumers. There are many, many scenarios when a consumer explicitly DOES NOT WANT a brokerage relationship with any REALTOR®. Maybe the consumer is a home builder, a sophisticated investor, an institutional/commercial owner, or an adamant “do-ityourself-er?” Under the current rule, a TB relationship is, quite simply, FORCED on that unwilling consumer. Under the proposed rule, an unwilling consumer would not have a brokerage relationship forced on them.
consider the rule’s adoption. Hopefully, the Commissioners will adopt the proposed rule as currently drafted so that REALTORS® finally have an appropriate interpretation of their brokerage relationship obligations! Check the Fall Edition of the Colorado REALTOR® Magazine for an update on the Commission’s decision on this rule change and an article on “Why I Hate the Transaction Brokerage Relationship!” Happy Summer!
Quite simply, this proposed rule change benefits both REALTORS® and consumers. It acknowledges the current (very common) practice and prevents REALTORS® from unwittingly violating Commission Rules in typical TB relationship scenarios. Unfortunately, the change is likely to face some opposition as the Commissioners
REALTOR® SAFETY PROGRAM
Knowledge. Awareness. Empowerment. These are the core components of REALTOR® Safety. And helping our members and consumers understand the risks they face can mean the difference between life and death.
Have your excuse ready: Part of being prepared to deal with a threatening situation is having “an out.” Prepare a scenario in advance so that you can leave—or you can encourage someone who makes you uncomfortable to leave. Examples: Your cell phone or pager went off and you have to call your office, you left some important information in your car, or another agent with buyers is on his way.
Agree on an office distress code: Create a voice distress code, a secret word or phrase that is not commonly used but can be worked into any conversation for cases where you feel that you are in danger. Use this if the person you are with can overhear the conversation, but you don’t want to alarm them. Example: “Hi, this is Jennifer. I’m with Mr. Henderson at the Elm Street listing. Could you email me the RED FILE?”
Choose flight over fight: While every real estate agent should take a basic self-defense course, the primary goal in any threatening situation is to escape from immediate danger and call for help. For more Safety Tips: http://www.coloradorealtors.com/ safety/ 8
Real Estate SnapShot S TAT E O F C O L O R A D O - J U N E 2 0 1 9 PERCENT OF LIST PRICE RECEIVED
99.4
Historical Median Sales Price
%
-0.6%
AVERAGE DAYS ON MARKET
5.4%
39
YTD 2019= 48 YTD 2018= 44
$500000
$400000
$300000
$200000 Mar 2017
MONTHS SUPPLY
3.8%
2.7
June 2017
Sept 2017
Dec 2017
Mar 2018
1.8%
2019
YTD 2019= 78,393 YTD 2018= 75,929
$399,000 $386,000
3.4%
2018
2019
2018
Dec 2018
Inventory of Active Listings -1.8
%
$310,000 $305,000
-4.3%
1.6
2.4%
2018
2019
YTD 2019= 62,625 YTD 2018= 60,498
2018
Sold Listings 11,986 8,603
7.1
9,304
%
-8.4%
-7.5
%
-11.5% 2,332 2,636
5,819 5,434
JUNE 2019= 12,576 JUNE 2018= 11,075
June 2019
$302,000 $295,000
%
10,981 18,623 19,451
Mar 2019
Single Family Condo
2019
24,663 25,120
13.6%
Sep 2018
State of Colorado - JUNE
$407,000 $399,900
JUNE 2019= 15,670 JUNE 2018= 15,302
June 2018
Median Sales Price
JUNE 2018= 2.6
2.4%
Single Family Condo
State of Colorado
2019 2018
2019 2018
2019 2018
2019 2018
2019 2018
2019 2018
Total Market JUNE
Single Family JUNE
Condo JUNE
Total Market JUNE
Single Family JUNE
Condo JUNE
Percent changes calculated using year-over-year comparisons. All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing.
For more data visit ColoradoREALTORS.com 9
MARKET TRENDS
June Brings Inventory and Price Relief to Colorado’s Market Following record-setting May, opportunities expand for buyers as appreciation cools and inventory improves After reaching record highs for median pricing and new listings across the Denver metro region and state housing markets in May, a slight cooling in June - similar to what has happened in June the past two years - helped create a few more opportunities for buyers and pushed sellers to price properties competitively, according to the latest monthly market data from the Colorado Association of REALTORS®.
1.8%
$407,000 MED. SALES PRICE - JUNE 2019 SINGLE FAMILY HOME CO.
1.6%
$310,000
MED. SALES PRICE - JUNE 2019 CONDO/TOWNHOME CO.
pricing for single-family homes slipped just under 1 percent to $407,000 and were also down 1.6 percent for condos/townhomes sitting at $310,000 as well. Overall, CAR’s Housing Affordability Index - a measure of how affordable a region’s housing is to its consumers based on interest rates, median sales price, and median income by county – is slightly improved in comparison to June 2018.
New listings for homes in both the seven county Denver-metro-area and statewide fell off in June but remain higher than a year ago. Statewide, new listings dipped 6.7 percent from May to June 2019 but remain up 1.7 percent from this time last year. The number of new condo/townhome listings statewide fell 6.4 percent between May and June however, they are up 5 percent year-over-year. Looking at the metro Denver region, new listings for single-family homes fell 11.2 percent, but are up 3.8 percent over this time last year. In the condo/ townhome market, new listings dipped 8.8 percent but were up 7.6 percent year-over-year.
Taking a look at some of the state’s local market conditions, Colorado Association of REALTORS® market trends spokespersons provided the following assessments: AURORA/CENTENNIAL “Once again, the June numbers, like May 2019, tell diverse stories based on zip code. Overall, Aurora saw very little change in the number of homes available and median price from May to June 2019. The same is true with inventory and pricing numbers in Aurora from June 2018. Year-over-year the numbers look very similar. The median price is up about 1 percent. Inventory is up about 1 percent from June 2018. The median home price in Aurora remains at $385,000. In most areas the market is pretty stable. A couple of standout zip codes; In 80016 inventory is up about 11 percent and the median sales price of $606,750 is an increase of approximately 11 percent over June 2018. 80013 is seeing an inventory increase from 2018 and approximately 4.2 percent pricing increase with the median price at $375,000, still an affordable option for buyers.
While active inventory for single-family homes across the state remained relatively flat from May to June, the condo/ townhome inventory in the seven-county Denver metro-area is up 19 percent from a year ago and the statewide market is up more than 7 percent in active inventory from June 2018. Also, on the heels of May’s record-high median home pricing, June’s numbers ranged from flat in the Denver metro region’s single-family market ($450,000) to a 1.6 percent dip in the condo/townhome market ($310,000). Statewide, median
Centennial has seen a 7.6 percent increase in inventory and
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7.8 percent increase in the median price from June 2018 to June 2019. The median home price in Centennial is $504,500 for single family residential and $386,000 for a townhome/ condo.
properties in the month of June was up from a year prior. The median sales price rose to $393,000 for single-family homes. Adams County has seen its median sales price rise 3 percent compared to last June, while Weld County sits up 4.1 percent year-over-year. With growth and affordability in the Brighton area, the inventory of active listings is down 23.6 percent from this time last year, yet the number of sold listings is up 37.3 percent.
Buyers will still experience multiple offers with well-maintained properties in the $250,000 to $450,000 price range. Homes that are more mediocre will experience longer days on the market and not the multiple offer frenzy of more well-kept properties. Interest rates are lower than a year ago providing a great window of opportunity for a home purchase,” said Aurora-area REALTOR® Sunny Banka.
COLORADO SPRINGS/PIKES PEAK AREA “June was another good month for the Colorado Springs-area housing market for single-family/patio homes. Even with a 5 percent drop in monthly sales and only modest increases in the median and average sales prices, we registered the highest year-to-date sales volume and the second highest monthly sales volume compared to any month of June on record. The average days on market were 24 days, with the sales price to list price ratio at 100.1 percent. Our average sales price was $372,792, the median sales price was $331,000, and a 1.3-month supply of inventory. Since buyers generally purchase properties offering competitive values, 38 percent of El Paso and Teller counties active listings in the Pikes Peak MLS had price reductions.
BOULDER/BROOMFIELD “In Boulder County, it appears the days of the seller’s market are over. Buyers rejoice with 9.4 percent new listings on the market and with a median sales price down 1.6 percent since the beginning of the year, prices seem reasonable and the bidding war days seem like a distant memory. Homes that are priced well and staged beautifully are still enjoying just 46 days on average on the market and a 99 percent sales-price to list-price ratio. Homes that don’t fit into that category are finding the summer months to be slow and frustrating. Even with their more affordable price points, condos are feeling the heat with a decline in their median price of 3.7 percent year-to-date and an increase of days of the market to 57 days. A buyer’s market seems right around the corner.
“Last month, 85.2 percent of the single-family/patio homes sold were priced under $500,000, while 12.7 percent were between $500,000 and $800,000, and 2.1 percent were priced over $800,000. Year-over-year, there was a 22 percent drop in the sale of single-family/patio homes priced under $300,000, primarily due to the inventory shortage, while we had a 16 percent increase in homes priced between $300,000 and $400,000. Prevailing low inventory and affordability challenges due to ever-soaring prices continue to be the most constraining aspect of the Colorado Springs-area housing market,” said Colorado Springs-area REALTOR® Jay Gupta.
In Broomfield County, sales are moving briskly with 21 percent more new listings and 18 percent of them quickly selling under 32 days. In spite of the active market, median home prices still languish with just a measly 1 percent increase since the beginning of the year. It appears the days of the seller’s market are over here as well. Condos and townhomes have a tighter inventory with new listings down since the beginning of the year and with 23 average days on the market, they are enjoying a modest median price appreciation of 5.2 percent since the beginning of the year. The tide is starting to turn,” said Boulder-area REALTOR® Kelly Moye.
“The Pikes Peak region continues to push home values up month after month. Both townhomes and single-family homes experienced price increases even though average days-on-market pushed higher as well. This push has made much of the area unaffordable to many locals just trying to get into housing. Coupled with a tight rental market, you can understand the frustration in the buyer/tenant pool. And, house prices continue to outpace job income growth. This may be one reason Colorado Springs was listed as one of four Colo-
BRIGHTON “Real estate along the I-76 corridor has continued to increase just as the summer heat continues to rise. Buyers continue to shop in the affordable Brighton-area and the number of sold
continued on next page
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MARKET TRENDS CONT. rado cities most likely to be on the verge of a housing crisis in a recent MSN Money article. Sellers are jumping for joy while selling their homes yet, they are frowning if staying in the local market and trying to find housing themselves.
numbers at the unusually long winter Durango experienced this year. We are just now seeing an increase in showing activity and new listings hitting the market. While prices continue to increase (+5 percent) over last year, we are also beginning to see buyer fatigue and an emerging trend of buyers that are choosing to stay in their current homes longer and renovate rather than making a move up or down.
“Nationally, you are hearing pressure from the White House to have the Federal Reserve bring rates down which should be the canary in the coalmine. If the national economy was truly doing so well, rate drops would not be needed. So, look for more updates on that as we progress into next month. We are very likely to see rate drops by the end of August.
“Townhome inventory increased more than 11 percent in June thanks to a couple new projects completing their first phases. Pricing of this new product is responsible for the increase in the median sales price by more than 8 percent for the overall market.
“Worldwide the central banks are tackling slowing economies. Trade wars with numerous countries continue to be on everyone’s radar and you can add Duetsche Bank running into recent problems as well. Whether or not any of the bad news that is out there affects the local market remains to be seen. At this time, locally, we remain robust on the housing front,” said Colorado Springs-area REALTOR® Patrick Muldoon.
“July is off to a good start with additional properties hitting the market and buyer activity over the past week has improved as well. The general consensus among real estate brokers is the summer selling season will extend well into the fall months, provided old man winter doesn’t make an early return from his summer vacation,” said Durango-area REALTOR® Jarrod Nixon.
DENVER “In both May and June of this year, real estate activity in Denver followed a nearly identical path to those same months in 2018. The number of new listings to the market in May was up 17 percent from the previous month - then retreated 21 percent in June. Both years show a trend in Denver where peak activity and sales highs occur in May with a steady - though not alarming - descent immediately following.
ESTES PARK “Statistics are showing a market shift for 2019 from singlefamily homes to townhouse/condos in the Estes Valley and Larimer County. The housing affordability index in the Estes Valley is indicating a drop of 13.4 percent for single-family homes and are down nearly 15 percent in townhouse/condos. Pricing of townhouse/condos is filling the gap and appealing to the entry level and workforce buyers. Larimer County had a nice 2 percent bump in new listings and overall inventory is up bringing the month’s supply up alongside at 4 percent for single-family residences over June 2018.
“While Denver’s single-family home price trends 22.6 percent higher than the metro area as a whole, that number has shown a nominal decrease since last year’s 24.3 percent. The roughly 10 percent change suggests that the trends we have already seen in recent months of cooling appreciation metro-wide could now be inching closer to the city core,” said Denver-area REALTOR® Matthew Leprino.
“Townhouse/condos are being listed at a rapid pace with a healthy increase in new listings of 8.1 percent. Inventory of townhouse/condos is 7.8 percent higher compared to June of last year. Year-to-date, townhouse/condos have had exceptional growth in overall new listings at 10.5 percent and a median sales price increase of 3.4 percent to $304,900. In Estes Park, townhouse/condos are also dominating the mar-
DURANGO “Summer has finally arrived in Durango. Better late than never. New listings in June were down about 4 percent and sold listings dipped 13 percent. I would point the finger for these
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ket with impressive growth, while single-family residences are struggling to keep up. Townhouse/condos have 18.8 percent more new listings, 11.1 percent more closed sales and the average sales price has climbed 11.4 percent year-to-date. Single-family homes are falling behind with new listings down almost 20 percent, closed sales down just over 21 percent, and we even saw a drop in average sales price, down 5.9 percent to $581,346. As the peak of season gets underway in the high country, only time will tell if single-family homes will compete with the townhouse/condo sales,” said Estes Park-area REALTOR® Abbey Pontius.
“Across the board, the communities from Carbondale to Battlement Mesa are experiencing a fairly balanced market. Supply and demand in single-family homes seem to be in good balance even with a perceived lack of inventory. In comparing our half year mark to that of 2018, there was a plus .07 percent change in new listings - or 1 home. Pending sales were down 7.4 percent and sold listings were up by another 1 home or 1.1 percent. The median sale price also has balance at $409,500 compared to $410,000 last year. Average sale price is another issue, coming up 5.7 percent above 2018 to settle in at $492,936. Percent of list price received and days on market remain totally unchanged over last year.
FORT COLLINS
“The most significant changes are in the townhome/condo market where new listings, prices, and pending sales are all up, yet sold listings are steady over last year. The median sale price rose 12.5 percent to $323,000 with the average sale price at $368,553 or an 11.8 percent increase over June 2018. Days on market has held steady but our supply has decreased from 4.1 months of inventory to 3.2.
“Cool Summer? Yes, it is. Like the weather, June’s housing numbers show a shifting pattern in the market. Even with falling interest rates, total sales are off from last year’s number by more than 15 percent. Median prices have continued to climb thanks mostly to an increase in sales of houses over $500,000. The number of single-family homes sold in northern Larimer County between $300,000-$400,000 is off by 21 percent year-over-year, yet inventory numbers in that price range have increased by 15 percent. Homes in the $500,000$699,000 price range and $700,000-$999,000 price range have seen 9 percent and 14 percent gains in year-over-year total sales, respectively. The entry-level buyer is relegated to continue renting, purchase a condo/townhome, or they’re using the increased buying power of lower interest rates and improving wages to purchase a home over $400,000.
“While it is still a good time to be a seller in the Grand and Roaring Fork river valleys, buyers are becoming pickier, not jumping on the first listing they see, and are preferring to hold out for the best property in their budget,” said Glenwood Springs-area REALTOR® Erin Bassett. GOLDEN/JEFFERSON COUNTY “The Jefferson County market is changing. While still a seller’s market, it is not as hot as it has been in the past few years. We’ve seen a 2.5 percent increase in new single-family listings and a 5.8 percent increase for townhomes/condos. Despite increases in inventory, the median sales price for single-family homes still increased in June 2019 to $485,000, up 4.3 percent from this time last year. Average days on market also increased to 20 days compared to 19 days in June 2018. Seller’s will need to be aware of all of these factors when they put their home on the market.
"The good news is that with increasing inventory levels, buyers actively looking have much more variety to choose from including resale and new construction. Both single-family homes and condo and townhome inventories are climbing. For sellers, this is the time for prudent pricing as we have seen an increase in price reductions for homes that may have been overly optimistic about what a buyer is willing to pay. Homes in good shape and priced conservatively are still seeing multiple offers in certain price points,” said Fort Collinsarea REALTOR® Chris Hardy.
“For townhomes/condos, the median sales price in June 2019 increased to $303,250 from $291,500 in June 2018. There is
GLENWOOD SPRINGS
continued on next page
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MARKET TRENDS CONT. also more inventory on the market with an uptick of 16.8 percent from this time last year. And, average days on market is up by 38.5 percent for townhouses/condos.
any other month for the past year, which indicates that summer is finally upon us. Sellers are looking to take advantage of warm weather and the many people that visit this high mountain community during the warmer months of the year. While residential listings are up 23.5 percent and sales are up 20 percent for the month, year-over-year sales were down 18.5 percent. This is likely just an indicator of a slightly slow start to the summer selling season and sales will most likely catch up in the next couple of months. The median residential home price in Custer County is currently $234,500. “Looking at Fremont County, flow levels in the Arkansas River have been pushing towards all-time highs this past month and our activity has followed suit. Sold residential units have shown the highest increase month-over-month since April 2018. The median priced home value of $236,250 is the result of a steady, month-over-month increase since May 2018 and has been in the positive column year-over-year for more than 17 months. June’s new listings were down 12 percent compared to May, but sales were up almost 29 percent for the same time. We’re still in need of more inventory for prospective buyers, but we’ve been singing that song for many months now,” said Royal Gorge-area REALTOR® David Madone.
“In Golden, homes are sitting on the market that would have sold within days of hitting the market several months ago. Most homes are selling for asking price or a bit lower, with few selling for more than the asking price. There are several newly-built townhouse/condos that are holding their asking price and pushing those days on the market up because they are not selling quickly. Buyers have a lot more options these days and they are not just jumping to buy anything that hits the market,” said Golden-area REALTOR® Barb Ecker. PUEBLO “Pueblo’s June numbers show a slowdown in new listings (-12.2 percent) with solds down 14 percent compared to 2018. We look a little better year-to-date, down 3.1 percent for new listings and solds down 8.8 percent. Pending sales revealed an increase of 13.3 percent from last June and are down just 1 percent year-to-date. The median price is up 13.6 percent from June 2018 and is also up just 1 percent year-todate. The percent of list price received is still strong at 98.9 percent with an average months’ supply of inventory sitting at 1.9 months keeping us in a seller’s market with multiple offers on the continued low inventory. Looking at new home construction, we continue to show strength with most of these properties selling before the home is completed,” said Puebloarea REALTOR® David Anderson.
VAIL “Summer has finally arrived and it’s the time when inventory and activity begin to rise for the season. New listings are up 16.8 percent for single-family/duplex units and townhome/ condo inventory is a positive 5.5 percent versus June a year ago. Couple the inventory along with pending sales at plus 61 percent for single-family/duplex homes and a minimal 3 percent decline in townhome/condos, and we look optimis-
ROYAL GORGE AREA – CUSTER AND FREMONT COUNTIES “June’s new listings in Custer County came in higher than
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tic to begin the season. Closed sales year-to-date is negative 14.6 percent on single-family/duplex and positive 3.8 percent on townhome/condo. This back and forth trend has persisted since the beginning of the year. The catalyst to the fluctuation has been inventory in key price points, which may still be in question until we can see the magnitude of new inventory hitting the market.
The price paid per square foot is higher in the town of Telluride than the Mountain Village and the advantage of walkability in the Town of Telluride is very appealing to many buyers, as was noted in the recent U.S. News and World Report where we were voted the best small town in America to visit,” said Telluride-area REALTOR® George Harvey.
“The days on market and month’s supply vacillate very closely to the differing price points. We can see the fluctuations in activity when only two of the key price niches are positive in unit and dollar sales year-to-date. The overall market is negative 7 percent in units and 8.34 percent in dollars year-to-date. However, we continue with the top niche down 40 percent in units and 37 percent in dollars. The magnitude of this segment is a negative 12 transactions but a dollar value of $93 million. The overall market is down 43 transactions with the aforementioned segment representing 28 percent of the decline. The total market is negative $68 million with this segment showing a downward trend of $93 million which means the market would be positive without the continued weakness in the segment,” said Vail-area REALTOR® Mike Budd.
The Colorado Association of REALTORS® Monthly Market Statistical Reports are prepared by ShowingTime, 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 June 2019 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. The complete reports cited in this press release, as well as county reports are available online at: http://www.coloradorealtors.com/market-trends/
TELLURIDE “The Telluride market is down 14 percent in dollar volume and -5 percent in the number of sales for the first half of 2019. My prediction for this year was 5-10 percent down in both categories for all of 2019. Hence, the more expensive real estate needs to pick up and my guess is that it will. Being a ski area resort, many people don’t know that the summer sales season is actually better than winter due to the ability of buyers to have easier access to land sales and ranches in the summer.
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CAR IS MAKING THE GRADE FROM THE CEO
Tyrone Adams President/CEO, Colorado Association of REALTORS®
Virtually everyone knows that earning an A is good while earning an F is well associated with many words that are not so flattering like failed, flunk, flounder and or some other choice four-letter words. I will let your mind be creative. Fortunately, the 3,000 members who took the most recent CAR survey feel CAR has earned a B grade on the services, programs, and products we provide Colorado REALTORS®. While we are pleased that Colorado REALTORS® feel CAR is above average, we are not satisfied. I don’t want to get too caught up in a grade, because that was not the purpose of why we conducted the survey in the first place. The reason why CAR conducts these surveys is to assess the Association’s job performance and identify areas for improvement. Doing this enables the CAR Board of Directors to achieve CAR’s mission which is to “make REALTORS® more successful and protect the real estate industry.” It is about giving Colorado REALTORS® the experience they should expect when they invest in their business every year. The following are some of the key takeaways from the survey results: • Members feel the Colorado Association of REALTORS® is headed in the right direction overall. • Members have a significant level of confidence in CAR Leadership. • Younger and newer members are less familiar with the Association. • Most see CAR primarily as an advocacy organization that highlights the importance of using a REALTOR® and advocates for homeowners and private property rights. • Responses clarified that the most important benefits members want are in alignment with CAR’s core value proposition. The survey results also revealed areas where CAR can improve. One way we can improve is by telling our story better, as the results showed there are far too many members who are not familiar enough – or at all – with programs and services CAR provides especially outside of our core values.
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B
OVERALL ASSOCIATION GRADE Overall, what grade would you give the Colorado Association of REALTORS® for the work done by the organization as a whole? (These are like school grades) GRADE B, GPA 3.1 (4.0 being the best)
4.1
DIRECTION OF THE ASSOCIATION On a scale from one to five, would you say that the Colorado Association of REALTORS® is headed in the right direction overall, or have things gotten off on the wrong track? MEAN SCORE 4.1 (5 being the best)
3.9
CONFIDENCE IN THE CAR BOARD OF DIRECTORS On a scale from one to five, how much confidence do you have in the CAR Board of Directors? MEAN SCORE 3.9 (5 being the best)
Doing surveys is only one piece of the puzzle for your state association to obtain feedback on how we can help you in your business. Your state leadership and a few of us on CAR staff have been traveling to attend your events and meetings to meet you in your back yard to understand your needs better. We are also looking at conducting a few focus groups beginning this year.
While the independent survey showed a lot of positives on the surface regarding CAR, there is still quite of bit of work between our volunteers and staff to get done to hopefully ensure Colorado REALTORS® receive a better experience. The A is within reach, all we have to do is work together to go from good to great! When this happens, we will elevate the Association to an A.
Service/Program Advocacy Continuing Education Market Updates Legal Tools
GPA 3.3 3.1 3.2 3.2
Not Familiar 10% 8% 7% 19%
Very Valuable 70% 66% 63% 55-60%
Code of Ethics CAR Foundation Networking Events Member Discounts Project Wildfire
3.0 2.9 2.8 2.7 2.7
10% 30% 20% 23% 37%
70% 33% 21% 32% 31%
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Users NA 88% 88% 46% Legal Hotline 25% Mediation/Arbitration NA NA 63% 61% NA
TECHNOLOGY
iBuyers Shake Up Denver-Area Market Providing REALTORS® with Opportunities to Stand Out
THE UNKNOWN PREVALENCE OF iBUYERS
Technology has always been the great disrupter, forcing established industries to adapt and change with the times. Backed by venture capitalist investment from Silicon Valley and overseas, Instant Buyers, or iBuyers as they’re known, have developed algorithms they say can accurately assess the value of homes. And while their arrival in Denver has alarmed some in real estate, some REALTORS® think their arrival provides them with an opportunity to outshine the new competition.
Just how big the iBuying phenomenon in Denver is hard – if not impossible – to quantify because most of the transactions don’t occur on the multiple listing service (MLS). Additionally, Zillow uses various LLCs to purchase homes which makes it even harder to track and most iBuyers don’t publicize their purchases to maintain confidentiality from their competition. A June 2019 Denver Post article stated that since October 2018, Opendoor has purchased more than 200 homes in metro Denver and sold more than 80 as of June 1. 8Z, which began operating in the iBuying space in Spring of 2019, had made offers on 80 homes, but only purchased three. A representative for Zillow stated the company had made 30 acquisitions in April and has seen continued month-over-month growth.
iBuying works like this: An owner interested in selling his or her home can request an offer online by submitting photos of their house to an iBuyer such as Zillow. Using automated valuation models, the iBuyer will then send an initial offer to the owner. If the seller accepts, the iBuyer will send an inspector to evaluate the condition of the home, note any items that need to be repaired, and present it to the seller for review. The seller can repair the damage themselves or deduct the cost from the original offer. Once the iBuyer purchases the home, repairs and updates are made and the home is placed back on the market, sometimes for extensive profit.
“It’s hard for us to know if there’s a massive uptick in the popularity of iBuyers. When it comes to figuring out if this is a flash in the pan or here to stay, it’s hard to say because the data just isn’t there,” said Colorado REALTOR® and Broker/Owner Matthew Leprino.
The entire iBuying purchase is designed to take just a few days. It’s this quick turnaround that iBuyers claim is the big advantage over the traditional method of selling a house. Sellers don’t have to spend money readying their home, and there are no open houses or drawn out negotiations.
It’s been reported that iBuying accounts for six percent of Phoenix’s real estate market, and some think that’s a realistic number for Denver. COMPUTER ALGORITHMS VERSUS HUMAN KNOWLEDGE
“You should be able to sell a home within a handful of clicks,” said Eric Wu, Opendoor’s Chief Executive in an article in the New York Times.
Not everyone is convinced that iBuyers can accurately assess a home’s true value. “There’s no possible way they’re taking into consideration neighborhood value,” said Leprino. He explained that REALTORS® have an in-depth understanding of neighborhoods as well as historical knowledge, which isn’t captured in an iBuyer’s algorithm. “In the Denver metro-area, for example, there are so many pockets of neighborhoods that it’s hard to generalize any big trend anymore. You might have sections of Denver that receive multiple offers still while other sections
And what started in cities like Phoenix and Atlanta has led Zillow, as well as new players like Opendoor and Offerpad, to establish offices in the Denver area hoping to get a toehold on the local market.
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are cooling off. Only a local REALTOR® is going to be able to provide a client with that insight.”
“They might lure [homeowners] in with the promise of a desirable sale price and a quick close. For some people, that might be very desirable,” he explained. “There can be convenience fees tacked on that can be more if they had listed it in a traditional way. Look at those secondary fees and make sure you know what that bottom line is,” he added.
Leprino said a homeowner accepting an iBuyer offer could have ripple effects throughout the neighborhood. “One person could take the iBuyer offer on their home and it can drastically effect the values in their neighborhood. One has to assume that they (iBuyers) are more likely than not offering less than the home is worth for the convenience the seller is receiving,” he said.
iBuyers charge of fee of 8 to 10 percent or more for the convenience of their services, and that doesn’t include repairs that need to be made to the property.
IT’S NOT 'THEM AGAINST US'
REALTORS® SHOULD 'PIVOT AND ADJUST'
While the arrival of iBuyers in Colorado has worried some real estate agents, Leprino and fellow Colorado REALTOR® and Broker/Owner Kelly Moye view this as an opportunity to differentiate themselves from their new competitors.
Whereas some real estate agents might see a growing threat from iBuyers, Moye and Leprino see opportunities on the horizon. The challenge, according to Moye, will be for REALTORS® to pivot and adjust. “REALTORS® need to realize that there’s some value in iBuyers for the consumer. Figure out what that value is and provide more value,” said Moye.
“I don’t think we [REALTORS®] can take the approach of its ‘them against us’ and that we’re adversaries,” Moye said. “[iBuying] is just an alternative business method. We’ve always had alternative business methods, whether it’s for sale by owner, selling a home with a REALTOR® or without one.”
REALTORS® must be prepared to sell their services to a potential client. “Every broker should be able to tell within 60 seconds or less what value they bring to a transaction,” said Leprino.
CONSIDERATIONS FOR HOMEOWNERS
Leprino explained that it’s necessary for REALTORS® to know what iBuyers are offering consumers and what the associated fees are. He suggested REALTORS® take advantage of getting a free quote from several iBuyers and getting the sales pitch directly from them. He’s done just that and received offers from two iBuyers to gauge the customer experience.
Moye says she often hears clients say they want to price their home well, but don’t want to give it away. “Basically, an iBuyer is asking [a homeowner] to leave money on the table. Without exposing their home to the market, they don’t know how much money they could potentially get,” she said. Homeowners need to do their due diligence when considering an iBuyer. “It’s the same as showing up at a trial without an attorney. You’re receiving an offer from another party and because you have no representation, you have no idea if it’s a good offer or not,” Leprino added. “You have no idea if the price is fair. You have no idea if the terms being proposed are a realistic valuation of your home.”
“There’s about a $60,000 difference between OpenDoor and Zillow in the numbers they pitched to me. That alone is enough to arm me when I go to potential clients to tell them of the possible variation in offers they could receive from iBuyers,” he said. Moye said the high fees charged by iBuyers is another way for
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iBuyers from page 19 REALTORS® to differentiate themselves. She explained how a client called her after getting an offer from Zillow. “Chances are, five years ago he wouldn’t have known about Zillow. All of a sudden, I’m on the phone with him competing with them. I knew my elevator pitch and I was ready for it,” she said. Moye stressed that REALTORS® should develop a marketing plan and sharpen their sales pitch if they’ve become complacent.
ones who can provide you with guidance to know if you are or aren’t making a good decision,” said Leprino. “Our REALTOR® oath requires us to provide that. There’s a local expertise you cannot and will not get by using an iBuyer.” NO CRYSTAL BALL Moye thinks consumers may look at iBuyers as a viable alternative, but they will wane when the housing market changes and homeowners don’t have as much equity. “The iBuyer scenario works in this market because people have equity – enough equity that they’re willing to leave a little on the table because they’ve got a whole bunch more in their hands," Moye said. “When the market starts to turn, then the margins become smaller and the iBuyer scenario doesn’t look as appealing.”
There’s a big difference between what an iBuyer and a REALTOR® offers, and the REALTOR® must communicate that to potential clients. “We’re the ones with the local knowledge. We know and have access to data, and we’re happy to share that. We have our pulse on what’s going on in the neighborhood and what new developments are coming in. What the trends are in that particular neighborhood,” said Leprino. Moye also says she reads real estate news daily to keep up on industry trends and takes more continuing education credits than she needs because she wants to stay on the cutting edge of the real estate market.
While she doesn’t have a crystal ball, Moye says she’ll be ready for the future. “Don’t think this is the end. This is just another alternative way of buying and selling homes. In five or ten years there’ll be another way and then another way after that. Everything evolves. Make sure you’re ready,” she said.
What a REALTOR® brings to the table is more than just the hard skills. “We’re the ones who can be your advocates. We’re the
The Gus Williams
COLORADO YOUNG PROFESSIONAL OF THE YEAR Nominations being accepted until September 1, 2019 DO YOU KNOW SOMEONE WHO... • Exemplifies leadership • Has a strong commitment to the Young Professional Network • Embodies the REALTOR® Spirit • Goes above and beyond in their community
Siân Murphy recieved the 2018 CYPN of the Year from Taylor Wilson (L) and Justin Knoll (R).
Nomination Form
The recipient will be announced at the CAR Inaugural Dinner at the Park Hyatt in Beaver Creek on October 15, 2019. The recipient will receive a donation made on their behalf to a non-profit of their choice. 20
PROTECT YOUR BUSINESS AND HELP THE REALTOR® INDUSTRY Invest in RPAC Today and Be Entered to Win one of six $200 gift cards and a grand prize of a $1,000 Southwest Airlines Gift Card
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DRAWING SCHEDULE July 26th: $200 Amazon Gift Card
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Contact Cameron Hill, Government Affairs Coordinator, at 303.785.7116 or chill@coloradorealtors.com if you have questions.
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BENEFITS
Colorado REALTORS® Healthcare Option HOW IT WORKS
Being a small business owner has some great benefits, which can loosely be encapsulated in the word independence. This is one of the most common reasons people give for why they are attracted to the real estate agent profession. While the benefits and freedoms of Brady Mullen this independence are real, there Business Development are also accepted responsibilities Director, Alpine Associates that come with it, not the least of which is shopping, comparing, and managing your healthcare options. While some real estate agents receive health benefits through a spouse or another job, many are left to their own devices for finding a suitable healthcare solution. As of June 1, 2019, REALTORS® in Colorado now have exclusive access to an option comprised of several medical benefits, with a Medical CostSharing component at its core.
originally made available by and for religious communities (and many still function that way), but their popularity and efficiency have caught the attention of other groups, namely trade associations.
The Colorado Association of REALTORS® has teamed up with Sedera, a Medical Cost Sharing community. Sedera is a reputable non-faith-based medical cost-sharing platform that caters to associations looking to make this type of solution available to its members. Colorado REALTORS® who join the Sedera community would share medical costs with all Sedera’s members nationwide (not just other Colorado REALTORS®), so there is immediate strength in numbers upon joining.
Sedera members share medical costs on a per “Need” basis. A “Need” is one or more medical expenses caused by an injury or illness that exceed a member’s “Initial Unshareable Amount (IUA)." For example, if an accident or illness causes a trip to the emergency room, surgery, anesthesia, a hospital room, follow-up appointments, and physical therapy, all those expenses would be considered one “Need” and the community funds would be shared after the member has paid his or her IUA. What is an IUA? Great question. Read on!
Instead of paying monthly premiums to an insurance company, members voluntarily contribute a set amount to the Sedera Community on a monthly basis and then are reimbursed from community funds as medical “Needs” arise. Sedera’s Medical Cost Sharing model has saved members between 30 – 50% of the costs compared to traditional means of financing health care. Click here for more information. Additionally, Sedera Members are effectively cash pay patients from a medical provider’s perspective, so there are no network restrictions for Sedera Members. It works anywhere medical providers accept direct cash payments from patients (almost all do), including providers out of state, or even out of the country. Sedera does not depend on networks!
What is Medical Cost Sharing and How Does it Work?
Sedera Members don’t have deductibles or co-insurance. Instead, Sedera Members have what is called an “Initial Unshareable Amount” or “IUA.” REALTORS® in Colorado have three IUA options when enrolling: $500, $1,000, and $2,500. When a Sedera Member incurs a medical "Need" that exceeds their chosen IUA, any remaining balance relative to that specific “Need” would
Compared to insurance, Medical Cost Sharing is an alternative way of addressing healthcare costs that has been gaining momentum over the past 30 years. And more recently, as the cost of traditional health insurance has soared, Medical Cost Sharing has become an attractive solution for millions of Americans. These programs were 22
MORE INFORMATION Enrollment/Information Page: www.1enrollment.com/ColoradoREALTORS
be eligible for community funds. This sounds too good to be true. What’s the catch?
Sedera’s Homepage: www.sedera.com
The major factor that keeps Medical Cost Sharing so affordable is the waiting period applied to sharing community funds for pre-existing conditions. This is important – this means if you are considering joining Sedera’s community so you can finally get that shoulder surgery you’ve been needing, for example, this may not work for you.
Sedera’s “How It Works” Video: https://sedera.com/medical-cost-sharing/
Sedera applies a waiting period and sharing limitations on pre-existing conditions for the first three years (with some exceptions like high cholesterol, high blood pressure, sleep apnea, and non-insulin dependent diabetes). Pre-existing conditions are defined by symptoms or treatment in the last 36 months. Community funds are unavailable for a pre-existing condition for 12 months; for months 13-24, there is a sharing maximum of $15,000 for that year; for months 25-36, the limit is $30,000 for the year; and after 36 months, the sharing restrictions are lifted.
Teladoc: Teladoc (NYSE: TDOC) is the global leader in virtual care. Members have unlimited 24/7 access to U.S. board-certified and licensed doctors through secure video conferencing or telephone at no extra cost. These doctors can diagnose, treat, and prescribe medications if medically prudent. The primary purpose of this service is to save time and money (lots of both) on minor and/or routine medical needs.
Another contributing factor to the affordability of a Sedera membership is the simplified nature of the transactions for medical providers. Once a member has a medical “Need” and the bills are gathered, Sedera’s professionals contact the medical providers to review the bills. Sedera is highly successful in reducing costs due to timely payment and a significant reduction in insurancestyle red tape. This results in an average reduction of costs of 50%! This success translates into lower monthly contributions for members.
Summary
Monthly Rates: Click Here
WellDyneRX: This is the prescription component of the REALTOR® benefit. WellDyneRX is a full-service prescription benefit manager that provides a six-tiered prescription drug benefit with discounts, co-insurance, and copays as low as $1.
The Healthcare Option offer was the product of many hours of hard work and collaboration from your state and local REALTOR® associations. Although it is understood that there will be some members for whom the pre-existing condition waiting period makes this membership unsuitable for them and/or their families, we believe it will make a significant positive impact in the lives of many of our members.
Other Important Components in this REALTOR® Membership Sedera Health is the central component of the REALTOR® Healthcare Option Benefit, but there are additional features that also provide exceptional value:
Contact Information: Alpine Association Benefits, 720523-5524, or email info@alpineassociationbenefits.com
Apex Advantage: For preventative care and minor/ routine medical costs (costs that would not trigger cost sharing by the Sedera community because they are below the IUA amount), Apex Advantage assists by reducing member costs to co-pays as low as $20 for doctor visits, labs, imaging, and urgent care visits. Preventative care is 100% covered (see a list of what that entails here). 23
UNSUNG HERO HOUSING LEGISLATION 2019 Happy Summer! The USA Women’s team won the World Cup in France and we are post all-star break, with half the season left to go in baseball. And before you know it, we will be talking about the preparation for the 2020 legislative session. But first let’s take stock of where we are so far in 2019. (For a detailed review of the top bills our Legislative Policy Committee (“LPC”) worked on this past Spring click here.)
LEGISLATIVE
Elizabeth Peetz Vice President of Government Affairs, Colorado Association of REALTORS®
As many of you know, like in baseball where there are many games, there are also many pieces of legislation that the LPC engages in during the 120 day session. In baseball, managers use sabermetrics to apply statistical analysis to records to evaluate performance of individual players and develop the best chance to win the World Series in October. One of these stats is “on base percentage” which records how often a player gets on base. It is really one of the unsung heroes in terms of understanding why some minor stats make a big difference in the big picture of the composition of a team. Similarly, there are many pieces of legislation that CAR engages in that are minor players in the overall legislative session, but when looking at the big picture, shows you the breadth and depth of our advocacy at the state level in an effort to build the best team for the real estate industry overall. Let’s take a look at some of the 2019 "unsung hero" housing legislation in the legislature that was signed into law by the Governor: HB-1084 – Updated the current law requiring an urban renewal authority (URA) to provide notice to any owner of private property in any area being assessed for blighted conditions. This bill changes the time period for when the notice of the blight study final determination must be sent from 30 days to 7 days, and clarifies that the notice must be sent by the URA or the municipality regardless of the final determination of the study whether the property is blighted or not. This increases transparency and gives consumers more information about their property. CAR monitored this bill. HB 1047 – Allows metropolitan districts to use sales tax revenue to provide fire protection services. Metropolitan districts are special districts that provide two or more specified government services. Under current law, districts may levy a property tax to provide each of these services and may use a sales tax to provide three
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specific services. CAR testified in support of HB 1047 because it allows metro districts to provide critical fire protection services with sales taxes if the districts decide to pursue that funding with voter approval. If we are asking homeowners to mitigate their property, it also makes sense to ensure the security of funding to fight fires, especially when the Gallagher Amendment can often hurt the ability of several counties and municipalities to fund these types of critical services for our population.
only commercial properties and multifamily properties could participate in the NEID, but now Housing Authorities also have that capacity. Moreover, this program is not mandatory and preserves the ability for real estate to be transferred without complication. HB 1078 - This bill requires an applicant seeking to place a property on the national register of historic places to obtain the consent of the property owner before the state historical society can take any action to approve the request. This additional notification to a property owner helps to ameliorate some of the hostile landmark designation situations that have created problems for the real estate industry in the past.
HB 1050 - Under current law, a restrictive covenant of a common interest community (i.e., home owner or condominium owner associations) cannot prohibit an individual property owner from employing the use of xeriscape or drought-tolerant landscaping. This bill extends this same policy to common areas under the control of the covenant community’s governing board, and specifies that special districts are not exempt from the water conservation law concerning xeriscape landscaping. CAR monitored this bill and understands that just like individual homeowners, now common areas of communities cannot prohibit the increased conservation efforts to use xeriscaping in community areas increasing the ability for neighbors to protect the environment with smart water conservation.
These unsung pieces of legislation are minor bills that either improve property rights, increase transparency for consumers, or enable neighborhoods and communities to make decisions that suit their local community needs. CAR is happy to work on all legislation that advances homeownership and strengthens communities through the strengthening of property rights of all consumers. As we head into the 7th inning stretch of our summer, CAR is still working for you on statewide growth caps, doing new research into innovative ways we can preserve, protect, and expand the supply of affordable housing in 2020, and we are always on the front lines ready to play ball for you, because that’s who we “R”.
HB 1272 - This bill allows a government housing authority to voluntarily participate in the Colorado New Energy Improvement District (NEID) program. The NEID allows property owners to finance up to 100 percent of up-front energy efficiency, renewable energy, and water conservation improvements through a voluntary special assessment on their property tax bill. The special assessment allows the building improvements to be paid over time even if the property sells. Property owners voluntarily join the NEID to gain access to financing and allow the administration of the special assessment. Like property taxes, the special assessment takes priority over other mortgages on the property. Under previous law,
Stay tuned for future news on what is coming to your ballots this November. In the meantime, if you or your colleague are interested in serving on the 2020 Government Affairs policy committees, don’t forget to apply for open seats on the 2020 CAR Political Action Committee, Legislative Policy Committee and brand new Key Contacts Program before the August 30th deadline.
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IN THE NEWS
REALTOR® SPOTLIGHT: JUDY PITT
An Interview with 2011 Good Neighbor Award Winner Judy Pitt Boulderite Judy Pitt has been a Colorado REALTOR® for 40 years Amidst the demands that come with being a REALTOR® over the last 16 years, she has found the time and developed a passion for bringing rainwater harvesting systems and teaching hygiene and sanitary practices to the residents of Kenya. Pitt was a recipient of the NAR Good Neighbor Award Winner in 2011 and continues to be a good neighbor across the world. She generously shared with us how she got involved in real estate, how Kenya became an important part of her life, what she does in Kenya, and how you can help. HOW DID YOU BECOME INVOLVED WITH REAL ESTATE? Truly by mistake. I never wanted to be a salesperson. I was an elementary school teacher but when there
were not enough children, they downsized the schoolteachers. Since I didn’t have seniority, I was the first person to go and had to look for a job. A friend suggested I take the real estate exam and I didn’t think I would pass it. I did though, and the rest is history. WHAT SPARKED YOUR INTEREST IN TRAVELING TO KENYA? In 4th grade, our teacher had us write a book report. All we could use was Encyclopedia Britannica. I did my book report on Dr. Albert Schweitzer, who became famous because he went to Africa and played the organ, which I had been taking lessons for at the time. He was also a medical doctor and served people in Africa. I was 12-years-old at the time and I told my parents that as an adult I would go there, too. I have now traveled to all the places he has been in Africa.
Judy Pitt 26
WHEN DID YOUR TRAVELS TO KENYA BEGIN? I started traveling to Kenya 16 years ago. In 2001, I was supposed to go to an undisclosed country to work with friends, but since the day I was leaving was September 11th, that did not end up happening. The following year I had an opportunity to go to Botswana working with Campus Crusade for Christ and was invited to go back in 2003. When I returned from Botswana that year, I flew to Kenya with someone who I met from previous travels and I have been going back ever since. WHAT DO YOU DO IN KENYA? I either go by myself or take teams of volunteers to provide water filters, train midwives, and teach farmers how to increase their crop yields.
Sometimes we build houses of hope for widows and put in new roofs to help with rainwater harvest systems. We are always doing rainwater harvesting systems. There are currently 123 Kenyan families with nothing for safe water. Women are walking 10 to 20 km per day to get water, and the water they get is from a sand dam that is just dug out and water flows into it where cow and goats use it. It is not drinkable; however, that is what they drink since they have nothing else. I work with teachers, government health workers, and I do whatever I can to learn everything I am able to here before I go there. I always strive to teach best practices of sanitation, hygiene, and best use of water. I started Kazi Yake back in 2007, a Colorado-based NPO registered with the federal government, and we are always raising money to help keep kids in schools, buy uniforms, and buy shoes. The nonprofit is supporting 27 children in school and two of them are graduating from college. It has really expanded through the years. I can’t just go as a tourist; I must do something. When you meet people, you find out that you can’t
just put in water. They need food, sanitation, and education. When you have all the education that I have, I want to give it away as long as my brain works.
"Our world is full of needs and everybody should serve somewhere. There is always something we can do. Always, always, always." HOW CAN OTHERS HELP? We are currently raising money to help put beds in a building that houses 20 beds for 40 girls. Our goal is to put another 20 beds in this building so each girl can have her own bed, blanket, and mattress. We are doing the same thing for a group of 40 boys, too. We do eye clinics and would love an eye doctor to come along with us. There are so many needs for children with eye diseases. When someone gets cataracts there, they think they are going blind, where it is so easy to fix that here. Every time you see a box for the Lions Club, you can put your
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used glasses in there (it is headquartered in Sterling). Glasses are then given to the prison where they are fixed and then we take them to Kenya for eye exams. We take 150-200 at a time and can always use more. You can donate to Kazi Yake through Paypal, send or drop a check off at the office. If you are interested in being part of a work trip, you can express interest through email or via website here: https://judypitt.wkre.com/aboutkazi-yake/ Email: jpitt@wkre.com WHAT WOULD YOU SAY ABOUT THE IMPORTANCE OF REALTORS® SERVING/VOLUNTEERING? As a real estate agent, you meet a lot of people on a daily basis sitting right across the desk from you that need help. As agents, we are able to look beyond ourselves and we need to do that. There are billions of ways to serve and help others. Help your neighbor shovel snow, rake leaves, or take an elderly person to chemo. Maybe it’s starting with your family. If everyone just did one thing it would make a difference.
CAR FALL FORUM 2019
Take advantage of Early Bird Registration rates through Aug. 9, 2019!
OCTOBER 14-16 Park Hyatt, Beaver Creek
Don’t Miss These Events
Navigating Your Way Through the CAR Fall Forum
Leadership Training
Colorado REALTORS® will be greeted with golden aspens and other shades of autumn when they assemble in Beaver Creek, CO for the 2019 Fall Forum. The Fall Forum offers the perfect opportunity for REALTORS® to network with old and new friends alike as well as gain keen insight into hot industry topics.
We invite you to Come on Down, you may be the next contestant on the CAR Price is Right.
This year’s jam-packed agenda includes inaugurating CAR’s new leadership for 2019-2020, which includes Janene Johnson taking the helm as Chair at the CAR Price is Right Inaugural Dinner Party and Reception.
Hot items on the agenda include: Leadership Training, Strategic Think Tank, Diversity and Inclusion, Risk Management Forum, and the MLS Roundtables. Other events include an RPAC Reception on Oct. 14, Networking Lunch on Oct. 15, Division Forums and Board of Directors meeting on Wednesday, Oct. 16, and more.
An engaging education session designed to prepare CAR Leaders for their position on the BOD or on CAR Leadership Council.
Strategic Think Tank Explore industry disruptors and what’s new in the world of real estate.
Diversity & Inclusion This session will focus on establishing a framework for CAR to better represent diverse communities.
Risk Management Forum CAR General Counsel Scott Peterson and three lawyer guests will debate current real estate legal issues that REALTORS® may face.
MLS Roundtables Back by popular request and designed for REALTORS®, hear a NAR MLS update and discuss MLS hot topics with industry experts.
COLORADOREALTORS.COM/CAR-FALL-FORUM 28 28
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INDUSTRY TRENDS
Five Millennial Home Buying Trends to Watch For 2019 - Plus One Bonus Tip
By: Simon Kafati Assistant VP – Mortgage & Consumer Lending, FirstBank
It’s official! In November 2018, millennials claimed the lead in mortgage ownership, taking the largest share of new loans by dollar volume at 42 percent. That’s compared to a share of 40 percent for Generation X, and only 17 percent for baby boomers.
millennials, even beating out an updated kitchen. According to the 2018 Outdoor Features Remodeling Report from the National Association of REALTORS®, standard lawn mowing services recover 267 percent of their cost at resale. Takeaway: For houses with a yard, make sure to include in your sales materials at least one photo of the grass, which hopefully will be green, mowed, edged, and free of weeds.
Now numbering at roughly 83 million in the U.S., millennials have emerged as the largest segment of the home buyer market, according to the National Association of REALTORS®’ 2019 study of generational trends. And since millennials have already reshaped a number of industries, from restaurants to retail, real estate agents may want to pay attention to these numbers. America’s largest living generation is now coming for the housing market.
2. GOING TO THE DOGS Among millennials who have never purchased a home, 42 percent say that their dog – or the desire to have one – is a key factor in their buying a home in the future. That’s a much bigger stated reason for homebuying than the prospect of getting married (25 percent) or having a child (19 percent). It also might explain why a big yard is so important to this generation.
What do you need to know about this generation to sell them a house today, and then sell them their next home in a few years, when their incomes and budgets have risen? You might be surprised by some of the answers.
Takeaway: Even if the seller doesn’t own a dog, consider staging the house with some cute dog accessories. A leather leash hanging by the front door or a framed photo of a handsome dog can help millennials picture their own pup greeting them at the door when they come home.
1. GREEN IT A good sized lawn is the No. 1 home feature priority among continued on next page
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3. SIZE MATTERS, AND SMALLER IS BETTER Baby boomers who poured millions into large, highmaintenance houses are discovering that younger people aren’t interested in McMansions. Millennial buyers are avoiding ornate, oversized houses in favor of smaller, more modern-looking alternatives.
ing in coffee shops so you don’t need much more than a table, chair and laptop to create the effect. 5. ENERGY EFFICIENT FOOTPRINTS Especially when housing costs are high, millennials see considerable value in being able to lower their utility bills – and their carbon footprints – with energy-efficient amenities.
Takeaway: It’s always smart to de-personalize a seller’s home as much as possible, but that’s especially true when you’re selling a big, expensive and outdated house. Remove as much dark, heavy furniture, drapery and art as you can to create the open feeling preferred by millennials. Less is more for this generation.
Takeaway: Make sure to highlight in your sales materials any energy-efficient features. UV-protected windows, programmable thermostats, efficient appliances and upgraded insulation will add value to the listing for millennial buyers.
4. HOME AT WORK Another factor to consider is the increasing appeal among younger Americans of working remotely, making the home office a key attraction. According to the latest statistics, more than 13 million Americans work from home, and a study from Bentley University finds that 77 percent of millennials say flexible work hours make the workplace more productive for people their age.
BONUS TIP – DON’T CALL THEM MILLENNIALS According to research conducted by the independent research organization Greenwald & Associates for Security Benefit, there is some negativity attached to the label of “millennial” that makes many members of the generation uncomfortable. So don’t label them, and treat them like just another buyer.
Takeaway: If the seller’s house doesn’t have an office, stage a corner of the home to suggest a comfortable work space. Remember, millennials are used to work-
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WATER
LESSONS LEARNED FROM TWO FORKS APPLIED TO EXPANSION OF GROSS RESERVOIR By Jeff Martin, PE, Project Manager, Denver Water Engineering Division
COLLABORATIVE APPROACH WILL BENEFIT WATERSHEDS ON WESTERN AND EASTERN SLOPES Denver Water’s Gross Reservoir Expansion Project will raise the dam 131 feet; nearly tripling the capacity of a reservoir that plays a vital role in its ability to reliably provide water to 1.4 million people in Denver and many of its suburbs. Provided the remaining federal approvals come soon and lawsuits are resolved, the project is slated to be complete in 2025 at a cost of $464 million. Along the way, this project will also create what the Colorado Department of Public Health and Environment described as a net environmental benefit to state water quality by generating a wide range of environmental improvements to streams, river flows and aquatic habitats. A PROJECT BORN OF HARD LESSONS
In 1990, the Environmental Protection Agency vetoed the Two Forks Dam, finding it would violate the Clean Water Act. At Denver Water, the decision forced the organization to re-examine its approach to all projects. “We knew we were going to have to do business differently,” said Denver Water CEO/Manager Jim Lochhead. “Collaboration and environmental stewardship would now move to the forefront of every project we pursue.” Environmental groups and project opponents at the time of the Two Forks controversy advocated for more conservation, water reuse and raising an existing dam — Gross Dam in Boulder County — rather than building a new one. Denver Water embraced those suggestions and now has an industryleading water efficiency program, a recycled water plant and, as is the case with raising Gross Dam, responsibly sources new supply.
In the early 1970s, Denver Water proposed building a dam called Two Forks at the confluence of the north and south forks of the South Platte River, southwest of Denver.
IMPROVING BALANCE, RESILIENCY Expanding the reservoir is critical to safeguarding the reliability of Denver Water’s collection and storage system. Gross Reservoir is located on the north end of the utility’s network. Because the north end provides just 10 percent of Denver Water’s storage, expanding Gross Reservoir will bring greater balance and help ensure enough supplies should wildfire or other natural disasters disrupt or disable parts of the southern system. And that’s not just a theoretical concern. Major forest fires in 1996 and 2002 wreaked havoc on the southern end of Denver Water’s storage system, clogging reservoirs with debris and making clear that the north end, with its far more limited storage capacity, can’t bear the burden alone in future disasters. Enlarging capacity on the north end will help ensure dependable water supplies for the utility’s customers. The additional storage capacity not only offsets the imbalance in the storage system, but will help prevent future shortfalls during
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A SYSTEM OUT OF BALANCE Gross Reservoir Expansion Project provides balance to the system, protects against shortfalls and insulates against potential catastrophic events such as wildfires that could force Denver Water to shut down portions of our system.
NORTH SYSTEM
droughts, a growing concern in semi-arid Denver and across Colorado. COLLABORATION, NOT COMPETITION As part of its commitment to developing projects in a collaborative way, Denver Water will fund and/or participate in dozens of environmental projects across multiple watersheds at a cost of more than $20 million. Examples of collaboration are shown — in part — by successful stream restoration projects in Grand County that are enabled by group of stakeholders called Learning By Doing. LBD includes representatives from Denver Water, the county, Colorado Trout Unlimited and other local water users who chose cooperation and collaboration over conflict. Environmental benefits are not limited to the western side of the Continental Divide. Denver Water, in partnership with the cities of Boulder and Lafayette, will provide space for a 5,000-acre-foot environmental pool in the enlarged reservoir.
10%
Represents 10 percent of Denver Water’s storage Drawn from Colorado River Basin via Moffat Tunnel
DENVER SOUTH SYSTEM
90%
Represents 90 percent of Denver Water’s storage Drawn from South Platte and Blue River basins
WARNING FROM MOTHER NATURE
The 1996 Buffalo Creek Fire and the 2002 Hayman Fire charred thousands of acres of land, which resulted in more than 1 million cubic yards of sediment accumulating in Strontia Springs Reservoir on our South System. Increased sediment creates operational challenges, causes water quality issues and clogs treatment plants. Had the sediment been much worse, our South System water treatment facilities would have been forced offline. Given the current imbalance, our North System would be ill-equipped to fill the gap. Increasing Gross Reservoir’s storage capacity will improve system balance in anticipation of future similar events. rev: 04/18
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This provides those partners with an opportunity to use their water to help manage and improve stream health in South Boulder Creek, below Gross Dam. “Right now, South Boulder Creek below Eldorado Springs is often dried up completely during the winter,” said David Nickum, executive director of Colorado Trout Unlimited. “By working with Denver Water, Boulder, and Lafayette can deliver water through that river down to their points of diversion. That’s another place where we can see a river that has been dried up actually restored with flows.”
ECONOMIC BENEFITS AND CONTRACTING The 2014 Final Environmental Impact Statement concludes impacts to employment and business activity would be positive. A look into the details reveals direct and induced effects, the latter being “impacts created by the direct effects, such as expenditures of the direct employees circulating in a given local economy generating other
expenditures, employees and personal income. Adding direct to induced effects arrives at total effects or impacts.” At its peak, the project will create more than 150 jobs at the site in Boulder County. Approximately 120 additional jobs per year will be created as a result of the construction in different industries within the Denver Metropolitan area. Local annual income generated from construction activities — both direct and induced — would equal more than $12.5 million. Induced sales of goods and services would result from workers and induced employees spending. Over the life of the construction activities, it is estimated that $62 million a year would be spent on goods and services. Denver Water is in the final stages of negotiation to add a construction manager and general contractor to the project management team. Interested subcontractors can join our notification list by filling out our contractor interest form at grossreservoir.org/construction.
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SEEING IT THROUGH, THE RIGHT WAY If the current schedule holds, the Gross Reservoir expansion will hit the finish line more than 35 years after the veto of Two Forks. In all, decades of patience, collaboration and earnestly addressing the environmental impacts of a large project have been key. “Bottom line, the environmental commitments are significant points of pride for us,” said Lochhead. “They — along with the relationships we’ve built during the 15 years of this project’s development — are part of Denver Water’s promise to be a responsible community partner and to do the right thing. We’re proud that this project will help us achieve our goals of providing a secure water supply for our customers while providing net environmental benefit to state water quality.”
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TAX DEDUCTIONS
YOUR FAMILY IS YOUR SECRET WEAPON TO MORE TAX DEDUCTIONS Free Webinar July 31, 12:00pm You probably noticed some big changes on your tax return this year thanks to the new tax laws that went into effect for 2018… It was especially noticeable if you have dependents that you claim on your return.
to qualify to write off 100% of all your medical expenses (including your deductible AND procedures that aren’t covered by insurance like braces, acupuncture, and more!)
But did you know there are…
• The blueprint you can follow when booking your vacations to make them a 100% tax write off!
10+ UNIQUE WAYS THE WEALTHY FAMILIES IN THIS COUNTRY USE THEIR FAMILIES TO “QUALIFY” FOR DEDUCTIONS THAT OFTEN GO UNUSED BY THE MIDDLE CLASS?
• Why, switching cars with your spouse – even just a few times during the year – can trigger a powerful, but relatively unknown vehicle deduction that could save you thousands on your taxes!
They go unused, not because the middle class can’t qualify… It’s that they don’t take the time to pro-actively take steps to qualify themselves.
• Forget college savings plans – learn how the wealthy pay for college, weddings, and expensive hobbies through their company – and deducting the entire expense.
So, we thought it might be helpful to put together a quick training webinar to show you how to leverage your spouse, your kids, and even grandparents to lower your taxes come April 15th. THE THING IS… IF YOU ARE GOING TO USE THESE STRATEGIES, YOU NEED TO START NOW. IF YOU WAIT UNTIL LATER THIS YEAR, IT’LL BE TOO LATE. Here’s what you’ll learn: • Why you should hire your spouse – even just part time at minimum wage – in your business
• Why you should consider “giving” your office equipment, cars, and even furniture to your kids or your spouse! • How to deduct the cost of your equipment twice! (You read that right… deduct it two times – thanks to a strange
provision in the tax code) • How to double down on your retirement savings using a “family employee” loophole! • How to get a 40% discount on life insurance for all your family members… even if they have pre-existing conditions that prevent them from getting insurance. This is one of my favorite lessons to teach… Because if you do it right, it can save you hundreds-ofthousands of dollars in taxes over the course of 20 years. Not only that… but – if done right – these strategies can also deepen and strengthen your relationships with your kids or your parents! And as a side benefit it teaches your family to be more responsible and creative with money. • When you attend the live webinar Taxbot will send you a digital copy of “Crack the Code.” This eBook will help you to understand how the “Tax Cuts and Jobs Act” impacts your individual tax return.
ABOUT TAXBOT Taxbot is an app that helps automate mileage and expense tracking for self-employed people. And it does it according to IRS rules so you can rest easy that you could win in an audit.
LEARN MORE
• How to use your marriage certificate
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C2EX
C2EX ENDORSEMENT OFFERS REALTORS® OPPORTUNITY TO STAND OUT EARN YOUR C2EX ENDORSEMENT BY SEPT. 1 AND BE ENTERED TO WIN A $300 VISA GIFT CARD
tion of REALTORS® as a way for REALTORS® to assess their knowledge of key industry topics to see what areas they excel in and what subject areas might have some knowledge gaps. By earning their C2EX Endorsement, REALTORS® demonstrate to clients their commitment to upholding the highest professional standards.
For a consumer in need of a REALTOR®, the search can be daunting. For most consumers, chief among the qualities they desire in a REALTOR® are upholding ethical business practices and a possessing a solid knowledge of the real estate industry. It goes without saying every REALTOR® is committed to upholding the Code of Ethics. So then how does a potential consumer judge a REALTOR®’s knowledge of business practices? Perhaps a better question would be how does a REALTOR® judge their own knowledge of business practices?
Designed as a wholistic program, C2EX starts with a selfassessment that measures your proficiency in 10 competency areas (11 for brokers) related to: • Data privacy • Customer service • The Code of Ethics • Advocacy • Technology • And other important topics
That’s where the Commitment to Excellence (C2EX) endorsement comes in. Unveiled in November 2018, the C2EX program was developed by the National Associa-
Watch the R-Trek crew and get inspired to start your journey to the C2EX Galaxy today!
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But hurry. You must complete the program by September 1 to be eligible!
Based on the results of the assessments, the C2EX platform will generate customized learning paths, recommend experiences, and provide tools and resources to increase knowledge and enhance skillsets. As REALTORS® make their way through the C2EX platform, they earn digital “Excellence Badges.” Once they have earned each Excellence Badge, participants will receive NAR’s official Commitment to Excellence endorsement, along with promotional material they can use to show their clients and colleagues they are committed to the highest level of professionalism possible.
If you’re up to the C2EX Challenge, start your journey today by going to www.ColoradoRealtors.com/C2EX.
OWN YOUR PRESENT. EMPOWER YOUR FUTURE.
Additionally, the C2EX platform facilitates meaningful coaching opportunities for brokers as well. Brokers can track an individual agent’s progress and share specific pieces of content with them. With all the talk about assessments, REALTORS® may be under the impression they’ll be sitting in a classroom. The best part about the C2EX program is that it was designed for the busy lifestyles of REALTORS®. It’s self-paced, free, and the program can be accessed on a computer, tablet or smart phone.
You can lead the way. Commitment to Excellence empowers you to enhance and showcase your high level of professionalism. It gives you an advantage in an increasingly competitive market and shows consumers you’re committed to conducting business at the highest standard. Be committed to excellence.
To encourage more REALTORS® to earn their C2EX endorsement, CAR is offering a special incentive. Once you have earned your C2EX endorsement, you’ll automatically be entered to win a $300 Visa gift card.
Get started today at C2EX.realtor.
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EVENTS
Get ready for a unique opportunity to capture valuable insights and connections to help you navigate the future of the real estate industry.
Get ready to take on tomorrow. WHAT: REfresh - Colorado's Premier Real Estate Industry Expo WHEN: Thursday, September 5, 2019 WHERE: Colorado Convention Center COST: $99
The second annual REfresh Expo is a one-day event focused on engaging, educating, and networking among real estate professionals. Taking place at the Colorado Convention Center, the event will consist of keynote speakers, breakout tracks, and exhibitor area surrounding the main stage, all designed to provide an engaging, beneficial event experience.
REGISTER TODAY AT:
https://refreshexpo.com
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2019 REALTORS CONFERENCE & EXPO SAN FRANCISCO
®
CONFERENCE NOV 8-11 EXPO NOV 8-10 At the 2019 REALTORS® Conference & Expo, the endless possibilities for your career path will be totally out of sight. Let’s start with the over 100 education sessions covering the latest trends in the real estate market and a whole lot more. Then there’s all that far out industry tech from over 400 exhibitors you’ll get to experience hands-on. And if networking is your bag, you’ll be rubbing elbows with over 20,000 of the industry’s most successful real estate professionals. You definitely are going to want to make this scene in 2019!
LEARN MORE www.Conference.realtor REGISTER TODAY www.Register.realtor 43
HOW TO MIX AND MATCH DESIGN STYLES A great way to create a look for your home that is uniquely yours is by mixing design styles. This gives you more freedom and flexibility when decorating your home, and the end result is a curated, collected reflection of your personal taste. While you can’t mix Rachel Sellers, American Furniture Warehouse
different styles willy-nilly with good results, creating an eclectic look doesn’t have to be difficult if you have a little basic style knowledge and some simple design tips.
MAIN DESIGN STYLE CATEGORIES It helps to have a little background on the three general categories that styles typically fall into so that when you see a piece, you recognize the style.
MODERN/CONTEMPORARY Modern/contemporary style embraces clean lines and minimal ornamentation, creating a look that focuses on function and simple silhouettes without unnecessary details. Tables and bedroom furniture typically have either thin, tapered legs or thick, squared-off legs and may incorporate materials like metal and glass. Upholstered pieces frequently have geometric track arms and thin legs. Modern/contemporary style tends to use more bold colors, lighter wood finishes, and has a fresh, urban, or possibly retro feel.
TRADITIONAL Traditional style is based on historical designs—think fancy silhouettes and plenty of ornamentation. Wood pieces like dining tables, chairs, and bedroom furniture typically have stacked molding and carving. Upholstered pieces like sofas, loveseats, and chairs typically have rolled or set-back arms, button tufting, and are more likely to have a shaped back or wings. Traditional style typically uses more subdued colors, darker wood finishes, and has a formal, elegant feel.
®
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TRANSITIONAL Like the name suggests, transitional style is a happy medium between traditional and modern/contemporary style. It has some of the same silhouettes as traditional furniture, but pieces aren’t as ornamented for a less formal, updated look. Dining tables, chairs, and bedroom furniture may have basic molding, and upholstered pieces may have simplified versions of details found on their traditional cousins, like rolled arms. Transitional style tends to use more warm neutral colors and has an inviting, timeless feel.
HOW TO MIX AND MATCH DIFFERENT STYLES
1. 80/20 RULE One simple way to keep your room feeling cohesive is using 80% of one dominant style and sprinkling in 20% of a secondary style. In practice, use the dominant style to guide your decisions about your color palette, larger furniture, and flooring, and your secondary style to choose accessories like accent furniture and wall art. For example, in this living room we use a traditional sofa, loveseat, and chairs with set-back rolled arms and bun feet, but we’ve paired them with more a more contemporary rug, artwork, decor, and tables for contrast.
2.COLOR A solid color scheme is one of the keys to good design and goes a long way towards unifying any room, especially one with a mix of different styles. If you need a starting point, choose colors from a rug or artwork for an easy shortcut to colors that work well together. Another simple way to create a harmonious color palette is to choose furniture and accessories in the same color family, like browns or blues. Whatever your color scheme, repeat the same colors throughout the room to bring your different styles together. Here, we used the blues, oranges, and yellows from the rug in the chairs, accent pillow, vases, and other accessories.
3. SCALE AND SHAPE Another key detail to pay attention to when choosing pieces is their scale and shape. Keeping items in the same scale makes them look like they belong with each other and ensures that they will function together. If you have a sprawling, low-to-the-ground sectional and a tiny cocktail table, the difference in scale will make them look mismatched and may make them uncomfortable to use together. The overall shape of a piece can have a similar effect. If you have a contemporary sofa with a strong geometric look, a cocktail table with a shaped top and curved continued on next page
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cabriole legs may look out of place, but a similarly geometric table would work well. For this room, we took a transitional sofa, loveseat, and ottoman with a traditional brown leather application and squared-off arms and paired them with geometric modern/contemporary tables, lamps with geometric bases and shades, and an angular bookshelf.
5. COMMIT TO A MOOD Think about the overall feel you want to create for your space. If you want a living room that feels warm and inviting, mixing in a very formal sofa or a super-modern mirrored cocktail table would go against that vibe, while a simpler cocktail table with a painted or weathered finish would enhance that feeling. In this room we paired a traditional-leaning brown leather sofa, loveseat, and recliner with a neutral-toned oriental carpet, transitional tables with weathered grey tops, lamps with washed white bases, and simple artwork for a feel that has a little traditional elegance but is overall cozy and lived-in.
4. REPEATED ELEMENTS Just like color, other design elements can bring your space together. Repeating things like texture, pattern, and material throughout the room makes it feel like your different pieces were chosen intentionally instead of randomly selected. In this room we focused on texture, choosing a sofa, loveseat, and ottoman with a more textured fabric and pairing them with washed wood tables, fuzzy blankets, and woven baskets. We also incorporated hints of metal throughout the room with the tables, the basket that’s holding the blanket, and in the lamps.
When you know the hallmarks of the three basic design styles and how to effectively combine them, it’s easy to create an eclectic space that looks great. Simply follow the 80/20 rule, repeat colors and other design elements throughout the room, pay attention to scale and shape, commit to a mood for your space, then enjoy a home that reflects your unique personal taste.
Rachel Sellers is a Content Writer for American Furniture Warehouse, one of the nation’s top furniture retailers with a large selection of affordable furniture and home decor. American Furniture Warehouse has more interior design tips, how-to guides, inspiring looks, and other design and lifestyle topics on the American Furniture Warehouse blog.
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WELCOME
TO THE
NEIGHBORHOOD
Whitaker Wheat Sofa with Accent Pillows
$
498
Sofa with Accent Pillows $498 (E-420S)
Loveseat $468 | Chair and a Half $398 | Accent Chair $318 | Striped Accent Chair $278 Cocktail Ottoman $218 | End Table $168 (T697-3) | 7’ x 9’ Area Rug $259 (164-OR7IV-79) | 33” Table Lamp^ $88 Each (107-0630)
Bedroom • Children’s Furniture • Dining Room • Electronics • Living Room • Outdoor Furniture • Office/Entertainment
Newport Queen Storage Bed $599
(613-QBED)
Includes Headboard, Storage Footboard and Rails (Mattress and comforter set not included)
King Storage Bed 749 | Dresser 499 | Mirror 149 Nightstand $229 | Chest $399 $
$
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Bolanburg Dining Table with Storage $348
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Upholstered Side Chair $78 | Upholstered Parson Chair $118 Bolanburg Dining Server $398 | 7-Piece Set as Show $896
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ENGLEWOOD (303) 799-9044 | COLORADO SPRINGS (719) 633-4220 | AURORA (303) 368-8555 | FIRESTONE (303) 684-2400 WESTMINSTER (303) 425-4359 | FORT COLLINS (970) 221-1981 | THORNTON (303) 289-4100 | PUEBLO (719) 542-5169 S. UNIVERSITY (303) 795-0928 | GRAND JUNCTION (970) 208-1920 | S.W. LAKEWOOD (303) 933-3975 | GLENWOOD SPRINGS (970) 928-9422
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COLORADO ASSOCIATION OF REALTORS®
2019 RPAC MAJOR INVESTORS
2019 NAR President’s Circle ($1,000 Minimum to RPAC and $2,000 to Na onal Poli cal Par es or NAR-Selected Federal Candidates) Piper Knoll, Denver Metro Association of REALTORS® Michael Labout, Pikes Peak Assoc. of REALTORS® John Lucero, Denver Metro Association of REALTORS® Scott Matthias, South Metro Denver REALTOR® Assoc. Chris McElroy, Fort Collins Board of REALTORS® Larry McGee, South Metro Denver REALTOR® Assoc Ron Myles, Denver Metro Commercial Assoc of REALTORS® Marcel Savoie, South Metro Denver REALTOR® Assoc. Todd Schuster, South Metro Denver REALTOR® Assoc. Bonnie Smith, Summit Association of REALTORS® Linda Romer Todd, Grand Junction Area REALTOR® Assoc. Kay Watson, South Metro Denver REALTOR® Assoc.
Tyrone Adams, Colorado Association of REALTORS® David J. Barber, Aurora Association of REALTORS® Gary Bauer, Denver Metro Association of REALTORS® Michael Burkhard, Grand Junction Area REALTOR® Assoc. Dale Carroll, South Metro Denver REALTOR® Assoc. Joseph DiVito, Denver Metro Assoc. of REALTORS®
Amy Dorsey, Vail Board of REALTORS® Karen Frisone, Denver Metro Association of REALTORS® George Harvey, Telluride Association of REALTORS® Ann Hayes, Grand Junction Area REALTOR® Assoc. Jay Kalinski, Boulder Area REALTOR® Association Keith Kanemoto, Longmont Assoc. of REALTORS®
NAR Corporate Ally Program (Multiple Listing Services voluntarily investing in RPAC) IRES Pikes Peak REALTOR® Service Corp REcolorado
Platinum R - Annual Investment of $10,000+ Boulder Area REALTOR® Association Colorado Association of REALTORS®
Gary Bauer, Denver Metro Association of REALTORS® Linda Romer Todd, Grand Junction Area REALTOR® Association
Golden R - Annual Investment of $5,000+ David J. Barber, Aurora Association of REALTORS® Dale Carroll, South Metro Denver REALTOR® Assoc. Amy Dorsey, Vail Board of REALTORS® George Harvey, Telluride Association of REALTORS® Keith Kanemoto, Longmont Association of REALTORS® Michael Labout, Pikes Peak Association of REALTORS® John Lucero, Denver Metro Association of REALTORS®
Michael Marcus, South Metro Denver REALTOR® Assoc. Scott Matthias, South Metro Denver REALTOR® Assoc. Chris McElroy, Fort Collins Board of REALTORS® Ron Myles, Denver Metro Comm. Assoc. of REALTORS® Todd Schuster, South Metro Denver REALTOR® Assoc. Bonnie Smith, Summit Association of REALTORS® Kay Watson, South Metro Denver REALTOR® Association
Crystal R - Annual Investment of $2,500+ Karen Frisone, Denver Metro Association of REALTORS® John Mitchell, Aurora Association of REALTORS® Robert Walkowicz, Loveland-Berthoud Association of REALTORS® {as of July 1, 2019)
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COLORADO Assoc. OF REALTORS®
2019 RPAC MAJOR INVESTORS
Sterling R - Annual Investment of $1,000+ Tyrone Adams, Colorado Assoc. of REALTORS® David Anderson, Pueblo Assoc. of REALTORS® Brian Anzur, Denver Metro Assoc. of REALTORS® Okie Arnot, South Metro Denver REALTOR® Assoc. Barbara Asbury, Pikes Peak Assoc. of REALTORS® Richard Averill, Denver Metro Assoc. of REALTORS® Ann Bagwell, Aurora Assoc. of REALTORS® Sunny Banka, Aurora Assoc. of REALTORS® Karen Becker, Aurora Assoc. of REALTORS® Edward Behr, Pikes Peak Assoc. of REALTORS® Nick Bokone, South Metro Denver REALTOR® Assoc. Calen Brennan, Denver Metro Assoc. of REALTORS® Brandon Brennick, Denver Metro Assoc. of REALTORS® Michael Burkhard, Grand Junction Area REALTOR® Assoc. Vicki Burns, Craig Assoc. of REALTORS® Janna Burton, Montrose Assoc. of REALTORS® Amy Cesario, Denver Metro Assoc. of REALTORS® Kathy Christina, Summit Assoc. of REALTORS® Carol Click, Four Corners Board of REALTORS® Jacob Curbow, Pikes Peak Assoc. of REALTORS® Mercie Curbow, Pikes Peak Assoc. of REALTORS® Shane Dawson, Durango Area Assoc. of REALTORS® Natalie Davis, Fort Collins Board of REALTORS® David DeElena, Aurora Assoc. of REALTORS® Amanda DiVito Parle, Denver Metro Assoc. of REALTORS® Joseph DiVito, Denver Metro Assoc. of REALTORS® Chris Doyle, Fort Collins Board of REALTORS® Barbara Ecker, Denver Metro Assoc. of REALTORS® Molly Eldridge, Gunnison Country Assoc. of REALTORS® Dan Fitchett, Vail Board of REALTORS® Bob Fullerton, Glenwood Springs Assoc. of REALTORS® Marjorie Genova, Grand Junction Area REALTOR® Assoc. Micah George, Grand Junction Area REALTOR® Assoc. Scott Grossman, Denver Metro Assoc. of REALTORS® Heather Hankins, South Metro Denver REALTOR® Assoc. Lauren Hansen, Colorado Assoc. of REALTORS® Steve Harder, South Metro Denver REALTOR® Assoc. Ed Hardey, Aurora Assoc. of REALTORS® Chris Hardy, Fort Collins Board of REALTORS® Debra Harmon, Montrose Assoc. of REALTORS® Ann Hayes, Grand Junction Area REALTOR® Assoc. Toni Heiden, Grand Junction Area REALTOR® Assoc.
Susan Hendricks, Grand Junction Area REALTOR® Assoc. Mary Ann Hinrichsen, South Metro Denver REALTOR® Assoc. Ken Hotard, Boulder Area REALTOR® Assoc. Deborah Howes, Pikes Peak Assoc. of REALTORS® Terry Hutchison, Durango Area Assoc. of REALTORS® Janene Johnson, Grand County Board of REALTORS® Dennis Johnson, Summit Assoc. of REALTORS® Jay Kalinski, Boulder Area REALTOR® Assoc. Krista Klees, Aspen Board of REALTORS® Justin Knoll, Denver Metro Assoc. of REALTORS® Piper Knoll, Denver Metro Assoc. of REALTORS® Pie Konchar, South Metro Denver REALTOR® Assoc. Cynthia Kruse, Vail Board of REALTORS® Dave Kupernik, Denver Metro Assoc. of REALTORS® Betsy Laughlin, VVail Board of REALTORS® Bob LeGare, Aurora Assoc. of REALTORS® Matthew Leprino, Denver Metro Assoc. of REALTORS® Karen Levine, Denver Metro Assoc. of REALTORS® Libby Levinson, Denver Metro Assoc. of REALTORS® Cheri Long, Aurora Assoc. of REALTORS® Alan Lovitt, Pikes Peak Assoc. of REALTORS® Russ Loya, Fort Collins Board of REALTORS® Kevan Lyons, REALTORS® of Central Colorado Mike MacGuire, Pikes Peak Assoc. of REALTORS® Melissa Maldonado, South Metro Denver REALTOR® Assoc. Janet Marlow, South Metro Denver REALTOR® Assoc. Michelle Martinez, Montrose Assoc. of REALTORS® John McComas, South Metro Denver REALTOR® Assoc. Stew Meagher, South Metro Denver REALTOR® Assoc. Toni Milyard, Grand Junction Area REALTOR® Assoc. Kelly Moye, Boulder Area REALTOR® Assoc. George Nehme, Pikes Peak Assoc. of REALTORS® Karen Nichols, Denver Metro Assoc. of REALTORS® Jarrod Nixon, Durango Area Assoc. of REALTORS® Chad Oschner, Denver Metro Assoc. of REALTORS® Wynne Palermo, Pikes Peak Assoc. of REALTORS® Mike Papantonakis, Denver Metro Assoc. of REALTORS® Jason Peck, Denver Metro Assoc. of REALTORS® Al Parker, Denver Metro Assoc. of REALTORS® Liz Peetz, Colorado Assoc. of REALTORS® Scott Peterson, Colorado Assoc. of REALTORS® Linda Philpott, Aurora Assoc. of REALTORS® Hank Poburka, Pikes Peak Assoc. of REALTORS® Danae Policky, South Metro Denver REALTOR® Assoc.
Amanda Potter, Grand Junction Area REALTOR® Assoc. Amy Reid, Pikes Peak Assoc. of REALTORS® Anna Rickenbach, Grand Junction Area REALTOR® Assoc. Gretchen Rosenberg, Denver Metro Assoc. of REALTORS® Laura Ruch, Denver Metro Assoc. of REALTORS® Crissy Rumford, Vail Board of REALTORS® Ulrich Salzgeber, Steamboat Springs Board of REALTORS® Marcel Savoie, South Metro Denver REALTOR® Assoc. Christine Serwe, Durango Area Assoc. of REALTORS® Richard Sly, South Metro Denver REALTOR® Assoc. Lynn Snyder Goetz, South Metro Denver REALTOR® Assoc. Tami Spaulding, Fort Collins Board of REALTORS® LaDawn Sperling, Denver Metro Assoc. of REALTORS® Ron Thorne, Mountain Metro Assoc. of REALTORS® Mark Trenka, Denver Metro Assoc. of REALTORS® Joseph Tripoli, Grand Junction Area REALTOR® Assoc. Ann Turner, Denver Metro Assoc. of REALTORS® Peter Wall, Denver Metro Assoc. of REALTORS® Andrea Warner, Pikes Peak Assoc. of REALTORS® Bret Weinstein, Denver Metro Assoc. of REALTORS® Dean Weissman, Pikes Peak Assoc. of REALTORS® Robert Werthman, Pikes Peak Assoc. of REALTORS® Anne Whipple, South Metro Denver REALTOR® Assoc. Brenda Wild, Aspen Board of REALTORS® Jim Wotkyns, Durango Area Assoc. of REALTORS® Greg Zadel, Denver Metro Assoc. of REALTORS® Sandi Zimmerman, Denver Metro Assoc. of REALTORS® Sabrina Zunker, Denver Metro Assoc. of REALTORS® Aspen Board of REALTORS® Durango Area Assoc. of REALTORS® Durango Land and Homes
{as of July 1, 2019)
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GET INVOLVED WITH GOVERNMENT AFFAIRS APPLICATIONS DUE FRIDAY, AUGUST 30, 2019
NEW** Key Contacts Program: Description: To assist CAR’s legislative advocacy efforts, CAR has created a grasstops lobbyist network to establish one REALTOR® as a Key Contact for each Colorado State Legislator. Key Contacts will be activated and called upon at strategic moments to help influence state legislators on issues impacting the Colorado Association of REALTORS®. Application: coloradorealtors.com/key-contacts CAR Point of Contact: Nick Bokone, CAR Public Policy Consultant, nickbok22@gmail.com
Applications for CAR’s Legislative Policy Committee (LPC), Political Action Committee (CARPAC) and Key Contacts Program (descriptions below) are now available to members. Applications for all three opportunities are due by no later than Friday, August 30, 2019. Legislative Policy Committee (LPC): Description: LPC members are to review, prepare, and make decisions based upon legislation that will be or has been introduced in the 2020 Colorado Legislative Session (meet primarily January through May). Term Length: 1-year Term Begins: December 2019 CLICK HERE TO APPLY
Applications for all three opportunities are due by no later than Friday, August 30, 2019.
CAR Political Action Committee (CARPAC): Description: CARPAC members are charged with managing and distributing RPAC funds for local and state candidates and issues, supporting grassroots and lobbying efforts, and educating REALTOR® members on matters of public policy. Term Length: 4-year Term Begins: December 2019 Vacancies: (1) Western District, (1) Mountain District, (2) At-Large CLICK HERE TO APPLY
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COLORADO RPAC
JULY 2019
NEWSLETTER
YOUR BEST INVESTMENT IN REAL ESTATE!
THERE ARE MANY REASONS TO SUPPORT RPAC AND EACH MEMBER HAS THEIR OWN STORY
The REALTORS® Political Action Committee (RPAC) is one of the strongest bipartisan advocacy organizations in the nation thanks to the support of our members. Your voluntary RPAC investment ensures the voice of real estate is present on important issues at the local, state, and national levels by supporting REALTOR® champions. RPAC -- the best investment in your business.
Major Investor Spotlight: Calen Brennan RE/MAX Unlimited Denver Major Investors invest at least $1,000 in RPAC annually. For more information click here.
• Advocacy Matters to Colorado REALTORS®: According to a recent survey of Colorado REALTORS®, 95% view CAR’s advocacy efforts as valuable. RPAC is an integral part of REALTOR® advocacy. The more our members support RPAC, the stronger our advocacy efforts become!
Calen Brennan is a broker associate for RE/MAX Unlimited in Denver. He has been a full time REALTOR® with RE/ MAX for 15 years. Calen is also involved in recruiting and business development for his brokerage. He serves on CAR’s Legislative Policy Committee and DMAR’s Government Affairs Committee. As a native of Denver, Calen enjoys spending a lot of time outdoors fishing, hiking, snowboarding, or any other activity that gets him outside. We spoke to Calen about why RPAC is important to him:
• RPAC Summer Participation Drive: Throughout the summer we will be giving away six $200 gift cards and a grand prize of a $1,000 Southwest Airlines gift card on September 30th. Invest $25 to enter all drawings. Every $25 is one entry! Enter today and win! • September is RPAC Month! Next month, we will be celebrating RPAC throughout the month of September. As part of our RPAC Summer Participation, we will be giving away a $200 Gift Card every week in September. On September 30th we will find out the winner of our Grand Prize $1,000 Southwest Airlines Gift Card!
What’s something that not many people know about you or would be surprised to find out about you? Calen: I make it a point to take off a month or so each year and travel to faraway places to explore our wonderful world. I’ve ridden motor bikes across Vietnam and Burma, taken a 4X4 across South Africa & Mozambique, visited Cuba, Israel, Jordan, Egypt and Tokyo to name a few. To me, life has a sense of urgency to it, we all should take advantage of things that come our way. My next stop is South America, unusual that I speak Spanish and have never been to that continent.
2019 RPAC RECOGNITION DEADLINES:
What does RPAC mean to you? Calen: After getting involved a bit more and volunteering at DMAR and CAR, I saw firsthand the way RPAC contributions protect not only our business, but also the communities
In order to be recognized as a Major Investor at each of the following events, CAR must receive funds by: CAR Fall Forum: September 6, 2019 NAR Annual: October 11, 2019 CAR Year-End Deadline: December 13, 2019
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Calen from page 48 What message would you like to give to other REALTORS® about why they should contribute to RPAC? Calen: Here’s how I’d communicate the need to contribute to RPAC to my peers: The one commodity that I don’t have enough of is time. RPAC is a way for me to stay involved/get involved in the political process in a nonpartisan way. I realize there’s so much legislation at the local, state, and national levels and I simply don’t have time to read all of it and go down to the Capitol and make an impact. RPAC is the easiest way to empower our association and our industry to do that on our behalf. We all should be contributors to the REALTORS® Political Action Committee, it’s a great way to do our part and protect our industry.
we live in and the homeowners we serve. RPAC to me means support for all of us, the REALTOR® community, our neighborhoods, and the American Dream of home ownership. How long have you been contributing to RPAC? Calen: Honestly, I’ve only contributed to RPAC the last four years, and the first three were at a minimal level. Then I got involved. Last year I got on the LPC and served on Government Affairs at DMAR and my eyes were very quickly opened. When I started learning all of the things that happen behind the scenes, I saw firsthand how RPAC supports our advocacy efforts at all levels of government and I witnessed how RPAC is the backbone of dealing with bad ideas even before they get rolling. I proudly became a Major Investor almost immediately after that.
WHAT HAS RPAC DONE FOR ME LATELY?
hardworking firefighters, and emergency personnel. BROADBAND INFRASTRUCTURE INSTALLATION – SENATE BILL 19-107 SB-107 allows an electric utility or commercial broadband provider to install, maintain, or lease broadband infrastructure within the electric easement. Only after providing advanced notice to the landowner or interest holders can an electric cooperative now enter the premises and install broadband infrastructure.
RENT CONTROL – SENATE BILL 19-225 This was a prime example of public policy harmful to the creation of affordable housing that CAR worked to defeat during the 2019 Legislative Session. SB19-225 would have repealed current statute and allowed local jurisdictions to pursue rent control and stabilization policies within their communities. Rent control or stabilization does not help us solve the affordable housing problem we are facing in Colorado, but instead it deters investments in our communities and decreases home building, adding further stress to the insufficient supply of housing inventory across the state. If we take the right steps to improve affordability, we can give Coloradans a better future.
CAR strongly supports the state’s efforts to expand broadband access to all of Colorado. It is particularly important to our rural and underserved areas because all Colorado communities should be able to enjoy the opportunity for economic development, business recruitment, and job creation. After receiving legal analysis on SB19-107 through NAR’s Land Use Initiative, CAR discovered that the bill as initially drafted negatively impacted private property owners by taking away their legal remedies if damages occurred or the installation infringed on property owners’ ability to receive communication about changes to their property prior to initiation of broadband deployment. CAR worked with several stakeholders and the bill sponsors to amend the bill to add adequate notice protections before entering onto property in connection with construction of commercial broadband.
Thank you to Colorado REALTORS® who answered the call for action loud and clear to ensure our Colorado senators understood the unintended consequences of this bad public policy and stopped the legislation dead in its tracks. WILDFIRE MITIGATION WILDLAND-URBAN INTERFACE AREAS – HOUSE BILL 19-1006 HB-1006 creates a state grant program to fund proactive forest management and fuel reduction projects to reduce the impacts of wildfires to life, property, and critical infrastructure. The increased funding in this legislation enables homeowners and communities together to tackle forest management and fuels reduction projects that reduce the life-threatening and destructive impacts of fire on Colorado citizens and local governments each year. This important aid equips our communities with the tools and resources necessary to give residents more adequate risk mitigation funding to protect private property and the lives of our Colorado families,
RPAC DATE TO REMEMBER • October 14th RPAC Golden Anniversary Reception: Please join us in Beaver Creek at CAR’s Fall Forum as we celebrate RPAC’s Golden Anniversary and Colorado’s RPAC Investors! This will be a complimentary event for anyone who has invested at least $99 in RPAC this year. Guests will enjoy a drink ticket and appetizers. We hope to see you there!
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MKT-011879
CAR FOUNDATION
REALTOR® APPRECIATION DAY! July 31, 2019; 4 – 8 p.m. Blue Sky Gallery – Wings Over the Rockies 13005 Wings Way, Englewood, CO 80112
Let your spirits soar as we celebrate our REALTORS® and introduce world record setting Hope One to the Wings Museum! Join us for hors d’oeuvres, drinks, silent auction and try your hand at the simulators! Also featuring special guest speaker Michael Combs. Please visit www.forthehumanspirit.com.
Featuring Record Breaking Pilot & Former REALTOR® Michael F. Combs! Speaking on: “When Giving Up Is Not An Option”
TICKET OPTIONS
$1000 VIP Experience • 2 Entrance • VIP Lounge with Flight Simulator • 2 Heart Pins • 4 Drink Tickets
$100 HEART PIN
$25 Basic Ticket
• 1 Entrance • 1 Heart Pin • Simulators •1 Drink Ticket
• 1 Entrance • Simulators
REGISTER or DONATE NOW at CARFOUNDATION.ORG For questions contact Stacey Brown at sbrown@coloradorealtors.com or 303-785-7126.