Consumer Advisory

The Fall 2021 Real Estate News

The Division of Real Estate is excited to release the Fall 2021 Real Estate News online quarterly newsletter. This online publication provides the public access to the Division’s meetings and event calendar, program disciplinary actions, updates on important matters, and timely articles written by Division staff and outside contributors in the real estate industry.

Fall 2021 Real Estate News

Real Estate Fraud Issues

Real estate fraud and scams are on the rise and consumers need to recognize them before becoming a victim.

Recognizing Discrimination in Housing

Colorado has been at the forefront when it comes to enacting fair housing laws, in fact prohibiting discrimination in housing as far back as 1959, years before the federal Fair Housing Act became law. These laws were established to make sure that everyone has the same opportunity and access to choosing where they want to live and the type of housing that they desire.

The What, Why, and Risks of Using Lockboxes

In this second advisory of the series, we discuss the types, use, risks, and some best practices involved with using lockboxes for accessing a seller’s property. We also touch on some real life examples of lockbox violations that can bring a real estate broker before the Real Estate Commission for discipline.

What is an Appraisal Gap on a Home Purchase?

An appraisal gap is the difference that occurs when a buyer's offer is higher than the actual appraised value of the property (which is usually the amount the bank will loan for the home) that they are contracting to purchase. It is an issue that is currently being experienced in the hot and highly competitive Colorado real estate market and experienced by buyers where there are many more prospective purchasers than inventory that is available for sale, and where bidding wars and other aggressive purchase offer tactics are being used.

Colorado Wildfires: Protecting Your Home

Being aware of the possibility of wildfires in your area, taking steps to help protect your home from potential fire damage, and knowing what insurance protections exist can go a long way in protecting your home and personal safety.

Floods and Floodplains in Colorado

In Colorado, floods are one of the most widespread common and natural hazards that we encounter. While some floods develop very slowly, flash floods can occur in an instant. Real estate professionals and their clients looking to purchase a home need to be aware if that home is located in a floodplain, as well as what the risk of flooding is in the area.

Understanding the Colorado Foreclosure Protection Act

With the possibility of an increase in the number of foreclosures on the horizon and the potential easing of state and federal foreclosure moratoriums, a real estate broker will need to be aware of the Colorado Foreclosure Protection Act (“the Act”).

Consumer advisory: Protect yourself against home equity skimming scams

Many Colorado consumers may be experiencing some financial hardship during these economic times, and those living in homeowner associations (HOAs) that are not able to pay their HOA dues and assessments, together with the thought of losing their home through foreclosure, may be approached by a “savior in disguise.”