In 2025, many sellers remained anchored to 2024 property values while buyers expected prices to decline. The result was a tug-of-war: sellers didn't want to accept less, buyers wouldn't pay yesterday's prices, and transactions stalled.

In 2026, we're seeing more successful transactions when sellers accept that 2024 is behind us and price their homes in line with what today's buyers consider fair.

Now we're seeing a similar reset with short-term rental owners.

As STR revenue declines, more homeowners are exploring seasonal and long-term rentals. But many compare today's LTR rates to what their STR previously grossed. That's an apples-to-oranges comparison.

STR owners typically pay utilities—which can easily exceed $500/month in Grand County—plus cleaning, supplies, higher turnover costs and, if professionally managed, fees that can approach 30% of revenue.

With seasonal and long-term rentals, some or all utilities can often be shifted to renters, management fees are typically much lower, and occupancy is more predictable.

The right comparison isn't GROSS to GROSS. It's NET to NET.

For some owners, STR will still produce the best return. For others, seasonal or long-term rentals may be far more competitive after expenses are considered.

If winter 2026–27 produces another disappointing STR season, we believe more homeowners—particularly those who purchased investment properties between late 2022 and 2024—could face difficult decisions in 2027.

For some, the goal may no longer be generating positive cash flow. It may be using rental income to offset as much of the cost of ownership as possible while protecting equity and waiting for better conditions. For others, selling may be the better financial decision.

That's where Snow Capped Properties can help. Rather than forcing owners to immediately choose between renting or selling, we can evaluate both. Depending on the property and owner's goals, we can potentially market it for sale, seasonal rent and long-term rent simultaneously and let the market help determine the best outcome.

In today's market, optionality matters. More options. More flexibility. A stronger safety line in a changing market.