I recently came across a quote often attributed to Warren Buffett that feels especially relevant in today’s real estate market:

“The best buying and selling decisions are made with analysis, not attachment. Emotions belong in your life—not in your negotiations.”

Whether you’re buying or selling, that’s wise advice. Sellers can become emotionally attached to what they believe their property is worth. Buyers can fall in love with a home before objectively evaluating whether it aligns with their goals and finances. As Buffett suggests, good decisions require perspective and discipline—not emotion.

Lately, I’ve had several Summit County homeowners tell me they regret not selling during the peak market of 2022 and 2023.

If you’ve had that thought, I’d encourage you to let it go.

The reason you didn’t sell back then is simple: it wasn’t the right time for you. Maybe you weren’t ready to move. Maybe you hadn’t found your next property. Maybe your family situation wasn’t aligned. Whatever the reason, you made the best decision you could with the information and circumstances you had at the time.

Looking backward rarely helps us make better decisions moving forward.

The question isn’t whether you should have sold three years ago. The question is whether selling makes sense today.

According to Land Title, Summit County’s dollar volume is currently tracking approximately 9% below the same period last year. That’s an important statistic, but numbers alone don’t tell the whole story.

For many owners, a Summit County property represents much more than an investment.

During buyer consultations, I often discuss which neighborhoods and property types have historically produced the strongest appreciation and resale value. Every so often, a buyer will stop me mid-sentence and say:

“Kelly, this isn’t really about the investment. That’s secondary. We’re buying a place where our family can spend time together.”

And honestly, I understand exactly what they mean.

For many families, their mountain property isn’t simply an asset on a balance sheet. It’s where grandchildren learn to ski. It’s where holidays are celebrated, traditions are created, and lifelong memories are made. It’s where family and friends gather for powder days, summer hikes, mountain bike rides, and evenings around the campfire.

If that’s what your property represents, don’t underestimate its value.

Ten years from now, you may not remember exactly what interest rates were or what the market was doing. But you’ll remember the experiences, relationships, and memories that took place there.

That’s why it’s important not to let regret drive your decision-making. Selling simply because you’re frustrated that you missed a previous market peak can be just as emotional as buying because you’re afraid of missing the next one.

Instead, focus on what matters most: your goals, your family, your finances, and your timeline.

It’s also worth recognizing why today’s market looks different than it did a few years ago.

Has Summit County fallen out of favor? Absolutely not.

Have second homes suddenly become undesirable? Not from what I’m seeing.

The fundamentals that have made Summit County special for decades remain firmly in place. We still enjoy world-class skiing, endless outdoor recreation, a vibrant mountain community, and a limited supply of developable land.

What’s changed are the economics.

Higher interest rates have reduced affordability for many buyers, while short-term rental regulations have altered the equation for some investors. More than anything else, those two factors have slowed transaction activity compared to the extraordinary market conditions we experienced during and immediately following the pandemic.

That doesn’t mean demand has disappeared. It simply means the buyer pool has changed.

As our community continues to evolve, conversations about short-term rentals, growth, and housing policy will undoubtedly continue. Some people welcome those changes, while others view them differently. Regardless of where you stand, understanding the factors influencing today’s market is far more productive than dwelling on opportunities that have already passed.

So if you’re contemplating a sale—or considering a purchase—don’t let hindsight dictate your next move.

Don’t sell because you’re frustrated you missed yesterday’s market.

Don’t buy because you’re afraid of missing tomorrow’s.

Make decisions based on where you are today and where you want to be tomorrow.

The market will do what the market does. Your job is to make the decision that’s right for your family and your future.

As Buffett reminds us, analysis should guide our decisions—not attachment. But when it comes to owning a piece of Summit County, it’s also worth remembering that some of life’s greatest returns aren’t measured in dollars at all.

Many Colorado homeowners are opening their assessment notices and asking the same question: How can my property taxes be going up when my home value hasn’t changed much at all?

For 2026, the answer has far less to do with market appreciation and far more to do with state-level tax policy changes that are now fully taking effect.

According to a 2024 report from the Common Sense Institute of Colorado, most homeowners across the state should expect property tax bills to rise by roughly 20–25% in 2026, even if home prices have remained relatively flat. Here’s why.

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1. Pandemic-Era Tax Relief Is Expiring

During the years immediately following the pandemic, Colorado lawmakers enacted temporary property tax relief measures to cushion homeowners from rapid increases in assessed values.

For the 2024 tax year, homeowners benefited from:

• A temporarily reduced residential assessment rate of approximately 5.7%, and
• A $55,000 subtraction from the taxable value of primary residences.

These measures helped suppress tax bills at a time when property values were rising quickly. However, they were never intended to be permanent.

As of the 2025 tax year (payable in 2026), those temporary discounts have expired.

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2. A New, Higher Permanent Assessment Rate Structure

Following the repeal of the Gallagher Amendment in 2020, Colorado lost the mechanism that historically kept residential assessment rates artificially low. Since then, lawmakers have been working to rebalance the system.

A bipartisan agreement negotiated during a 2023 special legislative session — and finalized through Senate Bill 24‑233 and House Bill 24‑1001 — created a new split-rate assessment structure:

2025 Assessment Rates (Payable in 2026)

• 7.05% for school district taxes
• 6.25% for local government taxes

This structure replaces the lower, temporary 2024 rate and represents a meaningful increase in the portion of your home’s value that is subject to taxation.

Even if your home’s market value has not increased, the taxable percentage of that value has.

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3. Why a 25% Increase Is Common — Even With Flat Prices

Property taxes are calculated using three primary components:

1. Market value of the property
2. Assessment rate (set by the state)
3. Mill levies (set by local taxing authorities)

While home price growth has slowed significantly across much of Colorado — especially in mountain and resort communities — the assessment rate jump alone is enough to drive substantial increases.

For many homeowners, moving from a ~5.7% temporary rate in 2024 to a blended effective rate closer to 6.25–7.05% translates to a 20–25% higher tax bill, before any mill levy changes are factored in.

This is why homeowners are seeing higher taxes despite relatively stagnant home values.

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4. Local Factors Can Push Bills Even Higher

In addition to state-level changes, local dynamics can amplify the increase:

• School district mill levies often account for the largest portion of property tax bills, and many districts have approved bonds or overrides.
• Overlapping taxing districts (county, town, fire, recreation, special districts) mean tax bills can vary significantly from one neighborhood to the next.
• In mountain communities like Summit County, assessed values remain high even when price growth cools, compounding the effect of higher rates.

As a result, two homes with similar values can see very different tax outcomes depending on location.

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5. What About 2026 Assessment Rates?

Looking ahead to the 2026 tax year, the residential assessment rate for the local government portion is expected to rise to 6.8%.

However, House Bill 24‑1001 introduces a new mitigation tool:

• Homeowners will subtract approximately 10% of their home’s value, up to $70,000, before applying the assessment rate.

With this subtraction, the effective assessment rate for many average-priced homes is projected to be closer to 6.4%, slightly reducing the impact — but still well above the temporary pandemic-era rate.

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6. Historical Context Matters

Even with these increases, Colorado’s property taxes remain low compared to much of the country:

• Colorado average effective rate: ~0.49%
• National average: ~0.90%

That said, homeowners who became accustomed to years of declining or flat assessment rates under Gallagher are now experiencing a structural reset — and that adjustment feels abrupt.

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Bottom Line

If you are facing a 25% increase in property taxes in 2026, it is not because your home suddenly became more valuable.

It is primarily the result of:

• The expiration of temporary pandemic-era tax relief
• The implementation of higher permanent assessment rates
• School district and local mill levy impacts
• Long-term policy shifts following the repeal of the Gallagher Amendment

Understanding these changes is essential — especially for homeowners budgeting long-term or considering a future move.

If you have questions about how property taxes affect your home’s overall cost of ownership, or how these changes may influence future market dynamics, I’m always happy to be a resource.

How the Housing Market Could Shift in 2026

As we move further into 2026, the housing market is beginning to feel more balanced and familiar than it has in recent years. Inventory is improving, mortgage rates have stabilized, and price growth is moderating—creating a more predictable environment for both buyers and sellers.

Below is a breakdown of what the data currently suggests for 2026—and what it could mean for your real estate plans.

Mortgage Rates

Mortgage rates have largely held in the low 6% range for several months, providing buyers with a level of consistency they have not had in quite some time. That stability has helped restore confidence and supported renewed buyer activity.

Recent data shows the Pending Home Sales Index posting its strongest performance in nearly three years after seasonal adjustment, indicating that buyers are reengaging as rate volatility eases.

Looking ahead, the National Association of Realtors (NAR) projects that existing home sales could increase by approximately 14% nationwide in 2026, driven by improved alignment between rates, inventory levels, and buyer expectations.

Home Price Growth

Home prices continue to rise on a national level, but at a much slower and healthier pace than in recent years.

According to national data, price trends are increasingly market-specific. Roughly half of major U.S. markets are experiencing modest price declines, while others—particularly in parts of the Midwest and Northeast—are still seeing appreciation.

NAR forecasts national price growth of approximately 2–3% in 2026, suggesting a market that is normalizing and moving more in line with income growth rather than rapid acceleration.

Inventory

Inventory has improved meaningfully compared to the past few years, giving buyers more options and easing some of the urgency that previously defined the market.

Active housing inventory has returned to near-normal levels for the first time since early 2022, and overall inventory is estimated to be roughly 20% higher than this time last year.

While many markets—including mountain and resort areas—remain below pre-pandemic inventory norms, this increase has helped create a more functional and balanced environment for both buyers and sellers.

Bottom Line

The housing market in 2026 is moving in a healthier, more balanced direction, with steadier mortgage rates, moderating price growth, and improving inventory both nationally and here in Summit County. This shift is creating real opportunities—but also requires thoughtful timing and local insight.

For buyers, today’s conditions may offer a chance to act before lower rates bring increased competition back into the market.

For sellers, strong values combined with a more informed buyer pool mean that strategy, pricing, and preparation matter more than ever.

Markets are no longer driven by urgency alone; they are driven by knowledge. Staying informed about both national trends and local Summit County data can make a meaningful difference in your outcome.

If you’re considering a move in 2026 or simply want clarity on your options, I’m always happy to connect and help you plan with confidence. Contact me today!

When selling a property—especially in a unique market like Summit County—not all lending scenarios are created equal. Even a well-qualified buyer with a strong down payment can run into unexpected roadblocks if the property doesn’t fit neatly into traditional lending guidelines.

A perfect example is what recently happened with a condo listing here in Keystone at Hidden River Lodge. The buyer had a 25% down payment and received a quick conditional approval from a national lender using Fannie Mae guidelines. Everything appeared to be ahead of schedule—until the lender discovered that the complex was flagged in the national database as a “condotel.”

Locals know this particular building is not a hotel-style operation. However, once a property is flagged, large institutional lenders often won’t take the time to dig deeper. Their systems are automated, and decisions are made based on broad classifications—not local knowledge. The result? Financing stalls, deadlines shift, and stress levels rise for everyone involved.

Fortunately, a backup option through Freddie Mac became available, but it required a full condo review, a hybrid appraisal, and immediate coordination with the HOA for financial documentation. This is where having a local lender with local relationships makes a world of difference. Local lenders understand the nuances of Summit County’s resort-style properties, know which buildings carry flags, and often have direct contacts with HOA management companies, appraisers, and title reps to keep things moving.

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The Value of Working with a Local Lending Expert

Here’s what a strong local lender brings to the table:

• Anticipation of Red Flags – They know which condo complexes are marked as condotels or limited review properties and can structure financing correctly from the beginning.
• Established Relationships – Local lenders can quickly get HOA budgets, reviews, and approvals without waiting in line behind nationwide processing queues.
• Resource Coordination – Need a rush appraisal or a mobile notary due to timing constraints? Local lenders have trusted vendors who can step in quickly.
• Smoother, Less Stressful Transactions – When timelines tighten, travel schedules, or seasonal rental turnovers come into play, having a lender who can pivot fast is invaluable.

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A Smooth Sale Starts With the Right Team

As your real estate professional, my goal is to anticipate these challenges early, connect you with trusted local resources, and keep your sale moving forward even when secondary market guidelines shift. Working with lenders who understand Summit County—not just on paper but in practice—can be the difference between a delayed deal and a smooth closing.

Thinking of selling or buying in a complex with short-term rentals or resort-style amenities? Let’s talk about strategy and make sure your lender is just as local and proactive as your agent.

It’s common to hear buyers say they’re waiting because of today’s political and economic uncertainty. But here in Summit County, waiting often costs more than it saves.

There has never been a “perfect” time to buy. Elections, shifting policies, and economic cycles are always in motion—but over the long term, Summit County real estate continues to appreciate. Buyers who pause until things feel more stable often discover that prices have risen, inventory has tightened, or the home they loved is no longer available.

Those who act during uncertain times, however, tend to win. They lock in today’s opportunities, start building equity immediately, and shield themselves from rising rents. If interest rates go down in the future, refinancing is always an option—but if prices climb, waiting only means paying more later.

In Summit County especially, where inventory is limited and demand stays strong thanks to second-home buyers and year-round recreation, timing the market is nearly impossible. The best move is focusing on what you can control: your lifestyle, your monthly payment, and your long-term goals.

When others sit on the sidelines, the buyers who step forward secure the advantage. In uncertain times, opportunity often belongs to those willing to take action.