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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.

ÀÖ¾ºÌåÓýÈ«Õ¾ HOA Information and Resource Center frequently hears from homeowners who express surprise and disappointment to learn that in Colorado, there is no regulatory oversight of homeowner associations or community association managers. Many express further surprise when they learn that the Division of Real Estate lacks the ability to create or even recommend regulations for HOAs. That is left to the legislators in Colorado’s General Assembly.

Here in Colorado, the state legislative session is in full swing. ÀÖ¾ºÌåÓýÈ«Õ¾ First Regular Session of the Seventy-third General Assembly convened on January 13, 2021. ÀÖ¾ºÌåÓýÈ«Õ¾ House and Senate generally convene at 10:00 a.m. on Mondays and 9:00 a.m. on Tuesdays through Fridays. Committees may meet upon adjournment of their respective chambers, at a time set in the chamber calendar, or as scheduled by the committee chair.

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�).

At their meeting on April 6, 2021, the Colorado Real Estate Commission (“the Commission�) adopted revisions to Commission Position Statement 20. This important position statement provides the real estate broker with guidance regarding the broker’s supervision responsibilities regarding unlicensed and licensed Real Estate Administrative Professionals (“REAPs�) as employees or independent contractors, and the tasks that they are allowed to perform on behalf of brokers.

ÀÖ¾ºÌåÓýÈ«Õ¾ Division of Real Estate is releasing the final installment of its series of appraiser licensee advisories designed to achieve better compliance. This final installment gives licensees the opportunity to better understand how to complete a successful appraisal by supporting adjustments properly.

ÀÖ¾ºÌåÓýÈ«Õ¾ “Directly from the Directorâ€� webcast on March 30th had Director Waters discuss Employing Broker Responsibilities and Supervision. For those who were not able to attend the presentation, please find below the recording and slide deck of the webcast.

In Colorado, aspiring appraisers can earn 100% of the experience requirements for both the AL and CR credentials with PAREA.

Starting in April, licensees will receive a bimonthly update, replacing the current process of sending emails as needed throughout the month.

A mortgage loan originator (MLO), is a licensed professional that assists a consumer seeking a loan to purchase a home or to refinance their existing home loan, and works with them throughout the loan approval process.