April 27, 2020

Clarifying Real Estate Rules in CO

With today's launch of Colorado's 'Safer at Home', many of you have asked what these new rules mean for real estate transactions. It is a bit confusing because the initial announcement brought a clear message that applied state wide, and then counties added their own modifications.
First and foremost, we hope you and your loved one's are well and safe, and we understand how difficult this time has been for everyone.

On Monday, April 20, Governor Jared Polis announced a transition from our state’s current Stay-at-Home order to a new Safer-at-Home order which includes the loosening of some business and social activity restrictions. Under the new order, one-on-one real estate showings — though not open houses — could resume beginning April 27th.

Following the state’s announcement, Adams, Arapahoe, Boulder, Broomfield, Denver and Jefferson counties announced individual county extensions of the state’s previous Stay-at-Home order that is set to expire on April 26th. Those county orders have been extended to May 8th while Douglas County will be following the state’s new Safer-at-Home order which will begin on April 27th.


In short, with the exception of business in Douglas County, brokers are encouraged to remain at home until May 8th and showings are encouraged via video until then. As of now, on May 8th in all counties we can resume in person showings with the proper precautions of social distancing, with brokers and clients wearing a mask, not touching anything in the home and, of course, washing hands when the showing is completed.

Here's a glimpse of current market conditions:
 
  • A record number of sellers have removed their homes from the market and there is a pent up energy on the part of sellers and buyers to resume normal activity up as soon as safely possible.
  • We know there are many in our community who have lost their jobs and will need to sell their homes.
  • Many buyers no longer qualify for a loan they previously had lined up.
  • The jumbo loan market funding has been reduced as many investors are declining to make this commitment.
  • We are seeing an increase in transactions terminating and price reductions.
  • The Denver Metro and Foothills markets are positioned to be less volatile than other areas of the country
  • Stay tuned for updates....
Contact Info
Joan Rogliano 
Broker Owner
Luxury Home Specialist

CO License Number: EA879655
Phone:
Address:
1153 Bergen Parkway
Evergreen, CO 80439
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