The housing market breathed a sigh of relief this week as interest rates dropped to the lowest amount since September, causing an incredible 28% increase in mortgage applications across the country but also here in Crested Butte. The rates are averaging right around 6% down from 6.3%, which can save buyers $300/mo on their mortgage. I have seen a lot of folks locking in rates below 6% so make sure you’re talking to the right lenders.
Did you know that 2023 is a reassessment year for property taxes? The Gunnison County Assessor must use a minimum of comparable sales from January 1st 2021-June 30th 2022 but they can also analyze date as far back as 5 years preceding June 30, 2022. Typically, they use the data from 24 months prior to June 30th. Why am I bringing this up? Well, I think the property taxes are going to rise a bit this year based on the rapid increase in values during this period so I want to make sure you are all paying attention. Property owners will be notified by May 1st and you only have until June 1st to make your appeal if you disagree with the value. I highly recommend appealing! Watch my video at the top to learn more!
You know I can’t send this email without talking about the snowfall, right? I thought you would like to see this chart of our annual snowfall totals. Anyone remember the 2016-2017 season when we had 335″? That was an epic year. We could get there this year if the current patterns continue. We have 163″ so far and counting!
Have a fabulous weekend!