City Launches Aspen Community Survey

The city of Aspen has announced that it will conduct a comprehensive quality-of-life survey. The survey will initially be available to randomly selected residents, who will receive a mailed invitation to participate. Starting July 1, all residents can complete the survey by visiting the city’s website at www.aspen.gov . The survey will close on July 15. The last community survey was conducted in 2022.

“We’re committed to being a customer-focused government and excited to hear feedback from our community,” says Patrick Quick, director of the Strategy and Innovation Office. “This survey will help city staff and City Council gauge the current quality of life in Aspen, identify priorities, and plan our work for the community accordingly. After the project concludes, we will present the data findings to Council and post a dashboard of the survey results on our website.”

For the past few weeks, Quick has been working with Polco, an independent consultant and civic engagement company, to develop the survey. The instrument, known as The National Community Survey, allows the city to compare results and benchmark residents’ opinions against other communities nationwide. The survey will include questions about quality of life, important characteristics of the community, services provided by the city of Aspen, and priorities for the future.

Mayor Torre said he hopes all residents will participate in the survey. “The city, every couple of years, checks in with the residents of Aspen to gauge how life is here and how the city is doing in providing a safe, resilient, and vibrant community,” he said. “The survey results will help us make better, informed decisions and prioritize services.”

For more information, visit https://aspen.gov/1661/Aspen-Community-Survey

Basalt Looks to the Future with New Mayor, Big Election on the Horizon

Mayor David Knight begins his term as the town faces a major election about the direction of the town in late May.  A citizens’ initiative aims to pare down the scope of the Midland Avenue Streetscape Project, one of the biggest public works endeavors in Basalt’s history. The election’s implications are somewhat foggy because the project started last summer and resumed on March 4^th. It is expected to continue into the fall.

Former Mayor Bill Kane feels the town has done a good job delivering on its promises, but a citizens’ group headed by town resident Ted Guy begs to differ. Guy and his team collected enough signatures on a citizens’ initiative to force an election on the Midland project on May 21. Guy contends the town is over budget and over the scope of what was planned. Kane disputed those contentions and said the project is within budget and follows the plan laid out for the town.

Guy has a lawsuit pending against the town over the council’s approval of the Basalt Center Circle project — which allows for redevelopment of the old Clark’s Market building downtown. Guy contends the town didn’t adhere to its master plan in approving the application. The project includes 65 apartments, including 17 that are deed restricted, and a 9,000-square-foot grocery store. It hasn’t advanced since getting approved by a 4-2 vote in August 2022. “I’m not sure where that’s going to land,” Kane said, noting that interest rates and construction costs have increased since the approval.

Knight will take the mayor’s seat after serving four years as a councilman. “Being around the last four years with Bill and being with a lot of experienced folks, it’s been a great learning experience,” he said.

Knight said he is eager to continue the momentum of the Basalt Forward 2030 plan, including completion of the Midland project, making some headway on affordable housing and continuing the green initiatives. The town used funds designated for green projects to team with the Roaring Fork School District to erect five solar arrays on school grounds and the town’s public works campus. The town received nearly $600,000 in state grants to cover a significant portion of the project, so it has funds remaining for further green initiatives.

As for housing, the town acquired four lots in the Stott’s Mill subdivision and will figure out how to use them. The town also holds land donated by the Willits developers to use for housing. Town officials will be assessing the potential for deed-restricted, affordable housing near the rugby field in Willits.

Like Kane, Knight said he viewed the last four years as a very positive experience and he is proud of what the council accomplished. The opposition that arose to the Midland project and the development proposals is part of the process, he said.

“Everyone is coming from a good place,” he said. “They care and they’re trying. Whatever their underlying motivations are, I don’t think anybody’s doing it to be ugly or mean. It’s just that they have a different viewpoint. You have to hear them out and figure where to land.”

He feels confident the Midland project has the community’s support. The challenge will be getting people to cast ballots because it seems like there is confusion over another election after the council election was on April 2, he said.

Many of the development reviews in the midvalley recently seem to come down to supporters of projects who are in desperate need of affordable housing and established residents who have housing and are desperate to maintain their quality of life. Knight acknowledged that “tension” and outlined his plan to address it.

Short-Term Rental (STR) Bills Die in Committee 

Good news on both STR bills SB 33 Lodging Property Tax Treatment and HB 1299 Short-Term Rental Unit Property Tax Classification – Both bills died in the now adjourned Colorado Legislative Session in late April.

SB 33, which would have assessed properties used as Short Term Rentals (STRs) for more than 90 nights at the commercial lodging rate, was defeated in the Senate Finance Committee on a bipartisan 6-1 vote. The only supporter of the bill was the bill sponsor Sen. Hansen.

As we worked with Rep. Shannon Bird, a 2023 REALTOR® Champion, to sponsor HB 1299 to counter SB 33 and protect property owners who may have one or two properties used as an STR, the Colorado Association of REALTORS® requested her to kill (technically “postpone indefinitely”) HB 1299 on Monday, which is what transpired. Both STR bills are gone in 2024.

National News: Bipartisan Real Estate Caucus Forms in Congress

A group of lawmakers on Capitol Hill have announced the new Bipartisan Congressional Real Estate Caucus, which will address the lack of housing affordability and inventory nationwide.

The National Association of REALTORS®, along with the National Association of Home Builders, Mortgage Bankers Association, American Land Title Association and other groups, lauded the move as a step toward creating more policies that could help to resolve some of the housing market’s most pressing issues.

Housing supply tops the new caucus’s agenda. Researchers have placed the  at anywhere from  1.5 million- to 5.5. million-unit deficit, pointing to population growth and housing underproduction across the country. Economists blame the inventory shortage for rising home prices.

“Lawmakers from across the political spectrum are in overwhelming agreement that this nation is facing a housing affordability crisis," NAR said in a statement. "Homeownership is a bipartisan issue, and we applaud these members of Congress for forming a caucus to work across the aisle to make housing more accessible. We look forward to working closely with this group to further advance our advocacy efforts to increase the housing supply and help individuals from all backgrounds find a path to homeownership.”

The caucus will help develop policies aimed at increasing the nation’s housing supply and providing more homeownership and rental housing opportunities to more Americans.

“This caucus will help advance housing policy—for both renters and prospective homeowners—and develop opportunities for Congress to take action to ensure healthy real estate markets and identify solutions to alleviate the housing affordability crisis our country is facing,” the Mortgage Bankers Association said in a statement.

The National Multifamily Housing Council echoed that sentiment, adding that “housing is now a kitchen table issue for Americans in every community across the country. This is the time for lawmakers from both sides of the aisle to roll up their sleeves and enact policies that will expand the supply of needed housing for all.”

NAR Applauds VA Announcement of Home Loan Benefit Changes

National Association of Realtors® President Kevin Sears issued the following statement in response to the Department of Veterans Affairs (VA) announcement of a "Buyer-Broker Agent Temporary Local Variance Circular":

"The VA's home loan guaranty is the only program that explicitly bans buyers from directly paying for professional real estate representation. We applaud the VA for revising this policy and allowing veterans and active-duty service members the same advantages as other buyers in a competitive real estate market.

"NAR launched an all-hands advocacy effort on this issue, including working with Congress and the relevant VA Committees, meeting with the VA, collaborating with industry partners, and holding hundreds of meetings on Capitol Hill during the Realtors® Legislative Meetings in May.

"We look forward to continuing this conversation, and our 1.5 million members stand ready to support the VA in whatever way possible to protect the brave men and women who serve this country and ensure they are given the equal opportunity to achieve the American Dream of homeownership."

Background

The VA announced a temporary policy allowing VA buyers to compensate their buyer broker directly while determining when a formal rulemaking process is necessary. NAR will continue to monitor and provide updates as they occur. The VA home loan guaranty program is a vital homeownership tool that provides veterans with a centralized, affordable, and accessible method of purchasing homes as a benefit they earned for their service to our nation. Under previous VA policies, veterans using the home loan benefit were prohibited from compensating their professional representative directly. This policy put VA buyers at a disadvantage in situations where offers of compensation are not offered from a seller, potentially forcing them to forego professional representation, choose a different loan product, or exit the market entirely.

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