Post Presidential Election Outlook
Charles Phanumphai • November 16, 2024
How the Grand County, Colorado Real Estate Market Is Evolving Post-2024 Election
With the results of the 2024 presidential election confirming Donald Trump’s return to the White House, the nation’s political and economic outlook has entered a new chapter. For Grand County, Colorado, a region already shaped by years of housing market shifts, this political change brings speculation about what the future may hold for real estate prices, mortgage rates, rent trends, and the supply-and-demand balance in the housing market.
Here’s a look at how Grand County’s real estate market has evolved over recent years and what could be next.
Real Estate Sales Prices: Continual Growth with Regional Nuances
Real Estate Sales Prices: Continual Growth with Regional Nuances
Home prices in Grand County have been on a steady upward trajectory for years, and this trend has only intensified with ongoing demand for mountain living.
2020-2024:
Fueled by pandemic-driven relocations and sustained interest in second homes, property values surged. The median home price in Grand County increased by more than 50% compared to pre-pandemic levels.
2024 Outlook:
Following the election, economic optimism among certain demographics may bolster demand, particularly for higher-end properties. However, affordability remains a concern for local buyers and workforce housing advocates.
Mortgage Rates: A Critical Factor for Buyers
Mortgage rates remain a key determinant of real estate activity.
2020-2023:
Rates rose sharply due to Federal Reserve efforts to curb inflation, peaking at over 7% in mid-2023, which dampened buyer activity.
Post-2024 Election:
Speculation about the new administration's economic policies has created uncertainty. If policies favor deregulation and pro-business initiatives, rates could stabilize or even decrease slightly, reigniting buyer interest. However, any prolonged inflationary pressure could lead to further rate hikes.
Rental Market: High Demand, Limited Supply
Grand County’s rental market reflects broader housing challenges, with limited supply and increasing demand:
Short-Term Rentals:
The area remains a hotspot for vacationers, and short-term rentals (STRs) continue to dominate the market. However, tighter local regulations on STRs have nudged some properties back into the long-term rental pool.
Long-Term Rentals:
While more properties are becoming available for long-term tenants, rent prices remain elevated due to a shortage of workforce housing and high property values. The Winter 2024 season is expected to see another spike in rental demand from seasonal workers and skiers.
Supply and Demand: A Persistent Imbalance
The mismatch between housing supply and demand in Grand County has been a defining feature of its real estate market:
Inventory Shortages:
Limited new construction and high land costs continue to constrain housing supply.
Strong Demand: The appeal of mountain living, combined with a growing remote workforce, keeps demand for homes high. Buyers and renters alike face stiff competition for properties.
Election Influence:
If the administration focuses on policies that encourage infrastructure development or tax incentives for housing, the supply bottleneck may ease. However, such changes take time to impact the market.
What’s Next for Grand County Real Estate?
While it’s too soon to predict the full impact of the 2024 election results on Grand County, the market is likely to remain dynamic and competitive in the near term.
For Buyers:
Opportunities may arise if mortgage rates stabilize or drop, but inventory challenges will persist.
For Sellers:
The current environment remains favorable for selling, especially for high-value properties.
For Renters:
Renters will need to act quickly to secure leases, particularly during peak seasonal periods.
At Snow Capped Properties, we understand the complexities of the Grand County real estate market and are here to guide you through buying, selling, or renting. Our expertise in local trends and housing strategies ensures you stay ahead in this competitive market.
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Winter Park's aerial transit system is moving through a serious planning process, and if you're renting, buying, or owning property here, it's worth understanding where things stand. Locals have heard this before. The town's own website calls this vision three decades in the making, and most of us have watched it surface and disappear more than once. What's different now is the structure: a rezoned base area, a $2 billion master plan, Alterra on record financing the gondola, and for the first time, specific design concepts in front of Town Council.
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Charles Phanumphai, owner of Snow Capped Properties in Grand County, Colorado, recently shared insights on burnout, entrepreneurship, and long-term success in real estate. Charles explained that avoiding burnout starts with finding work you genuinely enjoy, while also intentionally creating balance through family time, travel, fitness, and experiences outside of work. As a business owner and father, he prioritizes being present with his children and setting healthy boundaries around work in the evenings. Charles’ journey into real estate began in 2000 when he purchased his first “house hack” while attending college. At the same time, he built a 20+ year career in IT and workforce management. Over the years, he combined those two backgrounds to create Snow Capped Properties — a vertically integrated company focused on long-term and seasonal rentals, property management, and real estate sales throughout Grand County. He credits much of his success to three key principles: analyzing data, taking calculated risks, and trusting the process. His IT background helped shape a data-driven mindset that allows him to make strategic decisions based on market trends, rental performance, and long-term investment fundamentals rather than emotion. He also emphasized that success did not happen overnight, but instead came through years of consistent, disciplined progress. Charles also discussed the importance of adaptability in today’s evolving real estate market and the value of building long-term relationships rooted in professionalism, transparency, and trust. For those interested in reading the full interview/article with Bold Journey, click HERE
Why This New Credit Rule Is a Game-Changer for Renters—and Landlords
At Snow Capped Properties, we believe in fair, equal access to housing for everyone. Fair Housing laws are designed to ensure that all prospective tenants are treated equally—regardless of factors like age, family status, gender, religion, national origin, or disability. What does this mean for you? Simply put, rental listings and conversations should focus on the property itself—not the person applying. For example, you won’t see language like “perfect for families” or “ideal for professionals.” Instead, you’ll see descriptions such as “close to parks and amenities” or “easy access to commuter routes.” This ensures that no one feels excluded and that everyone has an equal opportunity to consider a home. You may also notice that accessibility is described in terms of features—like stairs or layout—rather than assumptions about who can or cannot live there. This approach keeps the process transparent and inclusive. Fair Housing standards apply everywhere, including online listings and social media. By focusing on facts, features, and location benefits, we help create a fair and consistent experience for all renters. At Snow Capped Properties, this isn’t just about compliance—it’s about doing what’s right. Our goal is to provide a respectful, transparent process and help you find a home that fits your needs. If you ever have questions, we’re here to help. Source: Based on educational material from The CE Shop Fair Housing Guide.
Grand County 1st Time Buyer Checklist
Vertical Integration and Real Estate Resilience - I recently had the opportunity to sit down with Will Carr on his podcast to share more about my journey building Snow Capped Properties in Grand County, Colorado—and how adaptability has been the key to navigating a constantly changing real estate market. One of the biggest inflection points for our business came after the East Troublesome Fire. While it was a devastating event for the community, it also created an unexpected surge in demand for insurance-funded relocation housing. That moment reinforced something I’ve always believed: in real estate, challenges often create new opportunities—if you’re positioned to respond. Why We Focus on Midterm & Seasonal Rentals - At Snow Capped, we’ve intentionally leaned into 6–9 month rental strategies. This allows us to serve ski-season demand in the winter and what I call “heat refugees” in the summer—people escaping hotter climates. This niche has allowed us to remain stable while many traditional short-term rental (STR) models have struggled. The Reality of Today’s Market - We’re seeing significant shifts in Grand County. Short-term rentals are facing pressure from oversupply and changing travel behavior, with many owners experiencing notable year-over-year revenue declines. At the same time, high interest rates and elevated home prices are pushing more people into renting—what I refer to as the rise of a “renter nation.” The Power of Vertical Integration - One of the most important decisions I made was expanding beyond property management into buying and selling real estate. This vertical integration allows us to guide clients through the entire lifecycle—whether they’re renting, holding, or selling—without needing to leave our ecosystem. A Bigger Picture Approach - If there’s one perspective I always come back to, it’s this: real estate rewards those who think long-term. When you zoom out over a 10–30 year horizon, short-term market fluctuations become much less significant, especially if your properties are generating consistent income and building equity. What Really Drives Success - Success in this business isn’t just about capital—it’s about people. Having the right local knowledge and relationships makes all the difference. At the same time, I believe in staying curious. Even as you become an expert in your field, you have to be willing to challenge your own assumptions and adapt when the market shifts. The “Good Life” Philosophy - At the end of the day, real estate is just a vehicle. The goal is financial independence—not just for wealth, but for freedom. Freedom to be present with your family, your community, and the things that matter most. Living below your means and staying in “learn mode” are two principles I’ve tried to carry throughout my journey. And of course, we wrapped things up with some fun—talking about superpowers, time travel, and whether we might one day live to 250. If you’re interested in the full conversation, I’d encourage you to check it out. It’s a deeper dive into how we’re thinking about real estate today—and where we see opportunities moving forward. https://www.youtube.com/watch?v=OLEcFg8_JxY