Colorado
What’s Working: Colorado builders stick with rate incentives to attract new-home buyers
Traffic picked up this year at the Oakwood Homes sales office for Banning Lewis Ranch, where new homes in the northern Colorado Springs neighborhood start in the mid-$300,000s.
But business is nowhere near pre-pandemic levels or even during the pandemic, when home buying was in a frenzy, Lauren Hanshaw, a new-home counselor at the office, said on a quiet weekend morning last month. She’s comparing it with 2023, which she called “my worst year in 10 years.”
“Traffic is a little bit more pointed. You don’t have as many lookie-loos versus people who are in need of a home,” Hanshaw said. “This year, we’re seeing a little bit more of a calmness because people understand that there’s still a demand, a need for homes and that rates are cyclical. They’ll be able to change that status in a couple years if they refinance their home.”
Since mortgage rates have barely budged even with two interest rate cuts by the Federal Reserve since September, Hanshaw’s belief is that shoppers are more educated. They know they won’t walk out the door with a monthly payment of under $1,800 or $2,000 — a very doable feat when rates were below 4% and even 5% at the Banning Lewis Ranch price point. On Thursday, the average mortgage rate for a traditional, fixed-rate 30-year loan was 6.98%, according to Mortgage News Daily, up from 6.62% a month ago and down from 7.41% a year ago.
But builders like Oakwood are doing what they can to get potential buyers in the door with rate-reduction incentives. Nearby Richmond American Homes is touting 3.999% rates (which increases to 5.999% in year three). Baessler Homes, which builds in northern Colorado, has a deal to get payments to “as low as $1,977” in the first year, and is essentially offering up to $20,000 in concessions (housing payments increase after year one to $2,578 in year four, or a 5.99% rate).
Meanwhile Oakwood, which started the year with some 4.99% offers, now has a 2.99% offer on select houses in Colorado Springs and a 3.99% promo in Denver. The builder is also working with the Colorado Housing and Finance Authority to provide down-payment assistance of up to $25,000, plus below-market rate loans. Most of the incentives, though, are only available to certain buyers and for certain houses.

It’s been working, especially after the pullback in 2023, said Michael Fraley, Oakwood Homes’ chief growth officer.
“When we rolled into 2024, we really started to do what we call builder forwards that were allowing us to get the rates down,” Fraley said. “As we started to introduce these rates, the 4.99%, and in some instances we got down to 4.25%, that’s when we saw many customers. In fact, our number one selling collection is the Ascent Collection in Colorado Springs. We sell about eight of those a month and that’s been consistent.”
The lowest priced two-bedroom, two-bath homes in the Ascent Collection are duplexes — 1,264 square feet and starting at $334,990. That’s less than El Paso County’s median sales price of $370,000 for a townhouse or condo in September.
Oakwood could probably sell more but is only building eight a month in that community, Fraley said. However, he added, “Had we not been able to find a way to get those below-market rates, I don’t think they would be selling as well.”
Concessions aren’t limited to new-home builders. Sellers and buyers often negotiate on the list price. According to the Colorado Association of Realtors data, sellers were getting very close to what their asking price in September — or 98.6% of what they asked for. That compares to June 2021, when bidding wars were common and sellers received 104.4% of their list price.

Of course, now, it’s a different market. According to the Denver Metro Association of Realtors, seller concessions were up in June to 48% of sales, compared to 29.2 percent a year earlier. The average concession was $7,295.
It’s all cyclical, said Hanshaw, who began working in the real estate industry in 2014 as the economy was recovering from the Great Recession.
“When I started in the industry, it was like you could ask for the world — a free basement, free backyard landscaping, free fencing and builders would entertain it to obtain a sale. Then it became a market of, I’m not giving you a refrigerator because the next person that walks in the door will take the deal without a refrigerator,” she said. “Now, I’d say, we’re back into negotiating a little bit heavier to obtain the sale.”
➔ 58% of Denver metro rentals offering an incentives. Free parking, free rent and other concessions for renters are on the rise, according to data from real estate site Zillow. In the Denver metro area, 58% of rental listings in October offered some sort of concession, up from 43.4% last year.
Nationwide, concessions were at a record high with 37.7% of all listings offering some sort of perk, compared with 30% a year earlier. That means landlords are competing for renters, especially after September saw a 50-year high in completed construction projects aimed at renters. Denver metro saw the third-highest jump in share of listings with a concession. >> Details
Sun economy stories you may have missed

➔ How to reduce trash — in outer space? A Colorado company is working on its own WALL-E-like trash compactor for future space habitats. >> Read story
➔ Clean-car sales jump 10% as Coloradans lean on state, federal and utility rebates. EVs, plug-in hybrids, and hybrids made up 38% of vehicle registrations in third quarter of 2024 >> Read story
➔ Denver Health was losing almost 90% of its nitrous oxide to leaks. So it cut the gas. The hospital is switching from centrally piped nitrous oxide — also known as laughing gas — to portable tanks to reduce greenhouse gas emissions >> Read story
➔ Health care prices for Colorado public sector retirees see huge increase for 2025. Two Medicare Advantage plans offered by Colorado PERA are seeing big jumps — 130% for one and more than 200% for the other >> Read story
Election 2024 stories:
➔ View all of our Election 2024 coverage
Take the poll: Insurance woes

If you missed the reader poll last week, there’s still time! The spike in homeowners insurance costs may have wiped out any savings of a low-interest mortgage. Feeling it? Take the reader poll to help us better understand what’s going on in Colorado ➔ cosun.co/WWinsurance
Other working bits

➔ 185 applications for Colorado’s broadband program. And they’re asking for $1.78 billion, which is more than double what the state received in funding for the Broadband Equity, Access and Deployment program. U.S. lawmakers approved the federal program after realizing in the pandemic that some places in America have mediocre or nonexistent internet service.
Colorado received $826.5 million in BEAD funding and opened its program to applicants earlier this year. If all projects were approved, that would help 111,896 homes, schools, businesses and community organizations, according to the Colorado Broadband Office, which is overseeing the grants. More than half of those locations — approximately 67,559 — are considered unserved with no broadband internet service. The Broadband Office plans to review every application in the coming weeks, which will take up to 160 days. >> Details
➔ Send a question to the EEOC. Any question is allowed, according to the U.S. Equal Employment Opportunity Commission, which is hosting the annual end-of-the year webinar Nov. 12 at noon. Will the questions be answered? That’s unknown. But questions need to be asked during pre-registration for the 90-minute session. >> Register
Got some economic news or business bits Coloradans should know? Tell us: cosun.co/heyww
Thanks for sticking with me for this week’s report. Remember to check out The Sun’s daily coverage online. As always, share your 2 cents on how the economy is keeping you down or helping you up at cosun.co/heyww. ~ tamara
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Colorado
Congress looks to help fund new control tower at growing Northern Colorado airport
As Weld County and Northern Colorado continue to grow, leaders at the Greeley-Weld County Airport are preparing for an expansion they say will position the facility as a major transportation and economic hub for the region.
Airport director Cooper Anderson said the airport has reached a point where additional growth on its current footprint is no longer possible.
“We have reached our capacity, here, as far as growth on the south side of the airport,” Anderson said.
The airport is now developing land northeast of its existing facilities to accommodate larger aircraft and future aviation services.
“We needed to find a new area to expand and allow larger corporate jets, and eventual charters and commercial service down the road,” Anderson said.
Construction is already underway or completed on several infrastructure projects, including expanded taxiways and sites for future hangars. Anderson said the area being developed was farmland just a few years ago.
“It used to be corn fields, but since then we have ran water, sewage and gas is coming next week,” Anderson said.
The expansion effort has been supported by a combination of local and federal funding. Anderson noted that approximately $850,000 in federal funding was previously secured to develop a master design and long-term vision for the airport, with local money helping execute the plan. Additional federal tax dollars in recent years also helped fund taxiway expansion projects that have prepared the airport for future growth.
Now, Colorado leaders in congress are seeking millions more in federal funding to continue that momentum.
Rep. Gabe Evans, who represents Colorado’s 8th Congressional District, said the airport plays an important role in one of the nation’s busiest aviation corridors.
“The northern Front Range of Colorado is one of the densest airspace systems in the nation,” Evans said.
Before entering Congress, Evans served as a Black Hawk helicopter pilot out of Buckley Air Force Base and frequently flew throughout Northern Colorado. He said improvements at the Greeley airport would have benefits extending well beyond Weld County, noting other airports are overcrowded to the point of causing some nearby residents to complain of sound.
“It really does impact the entire Front Range,” Evans said.
Evans is working to secure additional federal funding that would help construct and staff an air traffic control tower in Greeley while supporting continued infrastructure improvements.
“When those bills are passed and sent to the president’s desk, writtten into those bills as a line item is several more million dollars to continue to expand the infrastructure at the Greeley airport,” Evans said. “So you can actually start to bring business flights into the Greeley airport and pull a lot of that traffic off of some of the overburdened airports in the metro area.”
Anderson said federal support demonstrates broad confidence in the airport’s future as a hub for business and travel.
“Having the addition of Congressman Evans’ office, and their congressional funding, I think shows how much everybody believes in this,” Anderson said.
That confidence is already attracting attention from the private sector, Anderson said, with major companies expressing interest in locating operations at the airport.
“Greeley’s population is booming. Weld County’s population in general is growing,” Anderson said.
Airport leaders view the expansion as a way to support economic development across the region.
“By us growing, and expanding our services, we are also helping the city of Greeley, Weld County and surrounding Northern Colorado communities and being able to grow economic opportunities for them,” Anderson said.
As the airport prepares for future growth, officials have also upgraded emergency response capabilities. The airport recently acquired two fire trucks that will improve its ability to respond to incidents involving larger aircraft. The vehicles also allow firefighters to use newer, non-toxic firefighting foam, replacing older products that posed environmental concerns.
Airport officials say those improvements will help ensure the facility can safely accommodate larger aircraft and increased traffic in the years ahead.
Colorado
‘We couldn’t do this in another place’: Horror film looks to make Southern Colorado the next Hollywood
COLORADO SPRINGS, Colo. (KKTV) – It’s commonly understood that many of the best blockbusters are made in Southern California but a group of local filmmakers wants to prove Southern Colorado can be a destination for both aspiring and established auteurs.
Shooting began in Fountain this spring on ‘Devil In The Trunk’, a new horror film set in Colorado’s eastern plains.
“Devil In The Trunk is about a small-town woman who encounters a mysterious traveler driving this car right here who claims to have the actual devil trapped in the trunk of her car,” executive producer Leon Kelly said. “As you can imagine, when the devil comes to your small town, terrible and dangerous things can happen.”
Director, writer, and producer Evan Alderson said they wanted to make the film as Colorado as possible.
“We ended up finding a local Colorado writer, and we ended up collaborating to come up with this idea that could act as a love letter to Colorado,” he said.
While Colorado may be most famous for its soaring mountain peaks, Kelly said the plains were a much more fitting setting.
“It’s both beautiful and dangerous at the same time,” he said. “One of the underlying themes is the desolation and the loneliness and how vulnerable some folks can be in small towns and out in rural areas.”
Kelly said not only is the film meant to showcase Colorado’s natural beauty, but also to showcase the talent of the people who live there.
“It’s a proof of concept, to show that we have not only the talented people but the infrastructure that can support really high-quality, independent films,” he said. “We know we’ve got great filmmakers here, we know we have really talented craftspeople here, but they don’t necessarily have the opportunities to work on something like this on this scale that’s a narrative film.”
With the Sundance Film Festival set to make its debut in Boulder in 2027, Kelly said people are asking new questions about what Colorado can do for those looking to tell stories on the big screen.
“Can Colorado become a hub? Can that be a place, a destination where others come? Can that be a place where our own filmmakers can come into their own?” he said.
Alderson said once the film is finished they will put it out on the film festival circuit, and even look for distribution.
“That will look like a theatrical release, potentially, in an ideal world, or it will be straight to streaming services like Amazon, Hulu, that type of stuff,” he said.
Copyright 2026 KKTV. All rights reserved.
Colorado
Victim shot in the face takes the stand in second day of Colorado trial for Brent Metz
The now 19-year-old victim, who Brent Metz is accused of shooting in the face, took the stand in Metz’s trial Thursday. Metz, a former town of Mountain View councilman, was in the second day of his trial hearings.
The teenager, who has recovered well physically from the shooting back in September of 2024, told the story of what led up to the shooting, then said he blacked out for a period after he was shot.
The young man, Jack (CBS Colorado is not sharing the victim’s last name) said he and his younger friend went to ask for permission to take pictures at a scenic home near Conifer. At first, they parked outside the gated driveway and tried to figure out how to contact someone there. They then hopped a low fence and went up to the house.
Jack said he had difficulty locating a front door on the home, but the large property also had a garage and barn. They heard music coming from the barn, which is a common practice for people with animals to leave music playing to calm animals while away.
“We decided to knock on the barn door and then after a couple a minutes we decided to go back down the driveway,” Jack said in court.
The two friends went back over the fence and moved the car to a spot not blocking the driveway along the right-of-way at the road. Minutes later, Brent Metz drove up in his black GMC pickup truck, blocking their car in. Metz got out. Jack testified that he raised his hands at some point, a claim the defense questioned in cross examination. He related that he was getting out to try to greet the person getting out of the truck.
“I just (got) the door open I kind of turned to open my door and then turned to get out, and I saw someone get out, and then it was black,” Jack said.
The victim soon awoke bleeding and injured. “I looked down and I thought I was going to die. So I said that a couple times,” Jack testified.
“My mouth was on fire and it felt like my upper lip was gone, and I could taste little fragments,” Jack told the court. Jack’s friend and Metz tried to help him out of the car.
“The one who shot me was trying to help me get out of the car.”
Soon after, Metz left his side.
“He helped me sit down, and then he walked away,” Jack said.
“I started to realize I needed to stay as calm as I could, and when I got out of the car, I sat down, but I was very anxious,” Jack recalled.
Later, the victim had to have surgery in order to have the bullet fragments removed from his face. One of the fragments was more than an inch in size. He had trouble breathing through his right nostril due to the injuries to his nose. His eye was blackened for a long time, and a tooth was shattered.
Jack did not remember Metz saying much.
The testimony followed hours of testimony from a gun testing expert who looked at the weapon at the request of the prosecution. Derek Watkins is an engineer who said he has seen many claims of weapons not working properly.
“My experience is that, if you manufacture a firearm, at some point in time, it’s going, you’re going to run across the claim that it behaves in a defective manner,” Watkins said.
Metz’s defense is centered on a claim that the Sig Sauer P320 he had fired on its own without Metz pulling the trigger.
“There was nothing about the gun through the testing or through the examination of the components indicating it would function any other way than it was designed and left the factory,” Watkins said.
The defense had little luck getting Watkins to agree the gun could fire on its own, but did try to point out to the jury in questions that Watkins has previously testified in civil litigation about the gun’s integrity on behalf of the manufacturer.
The case continues Friday when it could wrap up. Metz faces four charges, the most serious of which is second-degree assault, but also two menacing charges and one of illegal discharge of a firearm.
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