THE AMY NAKOS GROUP blog
Summit County Real Estate News & Market Insights
What You Need to Know About House Swapping
STR restrictions have put a damper on the nightly rental of many properties in Summit County. However, owners can consider using their property in an exchange pool where they can allow people to use their home and in exchange vacation in other people’s homes. Here is...
Battle over short-term rentals heats-up at Colorado’s capitol
Senate Bill 33 is currently in the legislature with a committee hearing tentatively scheduled for February 20. A number of groups are rallying against this bill with a STR advocacy day scheduled in Denver at the Capitol on February 6, 2024. Senate Bill 33, as written,...
February 2024 Market Update
I am still surprised at the resiliency of the pricing in our market. Resort markets like ours are holding strong because of the desirability of the location and amenities, which keep demand very high. With high demand, the competition keeps the pricing competitive,...
Webinar on High Altitude Home Buying:
I recently recorded a webinar with my colleague Jackie White where we discussed all considerations, good and bad, on buying and owning property in the high country. Jackie is an expert in the Evergreen/Foothills market and shared her unique expertise for that area. I...
Recentric Realty Capital’s Successful Closing of Union Terrace in Lakewood
The Recentric team is pleased to announce that we have officially closed on the acquisition of Union Terrace, an 84,000+ square foot office with medical building in Lakewood, CO. The closing occurred on December 29th, 2023, the last business day of the year allowing...
Real Estate Market Update: January 2024
Here is how the market is faring for all Summit County residential real estate. Sold Listings December 2023 saw a total of 94 closings which is the least it has been since 2015, which is as far back as the software data goes. Historical number of sales in December:...
Dear Short-Term Rental Advocate
I'm passing along this important advocacy information relating to the proposed lodging tax on short term rentals. This proposal would increase taxes for STR's renting over 90 days by around 400%! If this is an important matter to you, then please read this information...
House Hunters Summit County
I recently spoke with some new buyers looking for a second home in Summit County and they had a flexible budget up to $1.2m. They were open to different types of properties. Usually, buyer’s budgets and their property requirements automatically define the properties...
Are You Still Waiting a LONG Time for a Summit County STR license?
Teaser: Yes. Yes you are. In my previous articles discussing the topic of wait times for STR licenses in Unincorporated Summit County Neighborhood Zones (NOZ), I discussed how depending on where your property is located in Summit County NOZs, you could be waiting from...
Commercial Tax Treatment
If you thought Halloween was scary, let me add one of the scariest things that is happening in our state government. Here is a quick summary: On October 31st, the Legislative Oversight Committee Concerning Tax Policy voted 4-2 to advance a bill to the upcoming...
STR Lawsuits and Potential Commercial Tax Treatment:
The STR industry is under a full attack. Lawmakers, policy groups, resort town locals, etc., are blaming the STR industry for a host of housing issues that have plagued resort towns since they were, well, resort towns. In an effort to find “balance” STR's are facing...
Summit County Market Update: November 2023
Last month I reported that the market was steady. And it still is, relative to the last 18 months or so. With 11 interest rate hikes since March 2022, along with substantial short-term rental restrictions in Summit County, our market is seeing signs of a new normal...