The value of residential property in the majority of locations is up by at least 20 percent over the past year, and often considerably more. In addition, the value of property in other categories has risen by as much as 60 percent.
The houses that are selling most quickly these days are in the mid range-those priced between $250,000 and $500,000.
In recent weeks, houses that were previously valued at between $250,000 and $300,000 sold for $100,000 or more above previous amounts. But the values are zooming in every price category right now.
Commercial properties and vacant land also saw big price increases.
That’s the news from seven metro-area county assessors, who held a news conference to announce spikes in median home property valuations, ranging from 17 percent for single-family homes in Douglas County to 40 percent for all homes in Adams County.
In the counties of Arapahoe, Boulder, Denver, Elbert, and Jefferson-property tax increases vary, depending on factors such as neighborhood popularity, and the amount of new construction and affordability.
Home owners across metro Denver should brace themselves for notices of property valuation.
Property taxes are going to go up, and for many, they’re going way up.
If your state is legalizing marijuana then you may want to consider buying low and selling high.
I have been a resident of Colorado for 36 years. I’m a former owner of a Denver dispensary. The dispensary sold for retirement.
My book, titled “Colorado Marijuana Real Estate” is a how to guide for the entrepreneur and the blue-collar guy. This book provides a blueprint for starting a medical marijuana business plan.
Download the eBook for FREE: http://www.coloradomjrealestate.com