I hope that you have all been able to enjoy the amazing snow that Ullr has recently blessed us with, keeping you inspired, healthy and invigorated! Here’s wishing for more upcoming big storms for us to continue to perfect our figure 8’s and figure 11’s!

As we continue to navigate our dynamic and challenging real estate environment, I wanted to take this opportunity to highlight a few important matters that are currently shaping our industry and real estate community.

First and foremost, wildfire awareness remains a critical concern for our region and growing by the day. As real estate professionals, it's vital that we remain proactive in educating ourselves, our clients, and our communities about the potential risks associated with wildfires, and how to mitigate those risks when buying or selling properties. Who will ever forget the Lake Christine fire or the Storm King fire? Now we have the recent California fires that makes us ask the question, “what is it going to take for people to take wildfires seriously”? WE have a direct voice to the consumer and are a key cog in the communication machine. WE all should be having the conversation with our clients about home hardening and creating defensible spaces on the property and around the structures.  Additionally, as a valued and important service to our clients, we should be educating them about the challenges with the current homeowners insurance industry. Getting a homeowners property insurance policy for a home used to be a slam dunk. However, things have changed and if you are not having the discussion with your clients to instigate their conversation with insurance carriers early on during their contract due diligence period, your clients and/or the transaction could be at risk.  New in 2025 is the Colorado FAIR Plan which was designed for when standard homeowner insurance is not available and provides only limited coverage options. Even the CO FAIR Plan is an insurer of last resort as it is very expensive. Please visit the website to learn more: www.Coloradofairplan.com. California already has the California Fair Plan in place. However, as a result of their recent wildfires and the number of claims that they are faced with (made worse by some insurers pulling out of that market at the end of 2024), rumor has it that the Plan will run out of funds and not be able to satisfy all claims. We need to do this research now so that we can provide it to our clients in the next couple/few weeks so that they can start to make remedial action plans for this spring / early summer.

Additionally, the Colorado Association of Realtors (CAR) is closely monitoring 26+ bills at the state legislature that could significantly impact real estate and homeownership rights. These bills cover a range of issues from property tax reforms to regulations affecting residential transactions. It’s crucial that we stay informed about these developments and advocate for policies that best support the rights and interests of homeownership and real estate professionals alike.

I encourage all members to take advantage and plan to attend the upcoming educational offerings and events being planned for 2025. These events are designed to provide essential insights and valuable opportunities for growth and are provided as a benefit to ABOR members. Here are some key dates to mark on your calendars:

• March 13, 2025: Market Update Lunch – Economic and Real Estate Forecast for 2025 featuring the Chief Economist of the National Association of Realtors, Lawrence Yun and Local Expert, Randy Gold REGISTER HERE
• April 8, 2025: Broker Forum, 9:00am – 12:30 pm (by invitation) and "10 Legal Things" 1:00pm – 3:00pm featuring CAR’s legal counsel, Scott Peterson (2CE Credits) REGISTER HERE

These events will provide current crucial information for navigating both the local and statewide real estate landscape, ensuring that you stay informed, connected, and ahead of the curve.

I look forward to seeing you at the events and working together to continue advancing the professionalism and success of the Real Estate community that are the members of the Aspen Board of Realtors.

Respectfully,

Mark Lewis,

2025 President, Aspen Board of Realtors