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FHA borrowers to save under Obama proposal

FHA borrowers to save under Obama proposal

President Obama last week proposed lowering insurance premiums on FHA-insured loans by 50 basis points, claiming this would save 250,000 borrowers an average of $900 annually in house payments. “The annual premiums on FHA loans, an especially popular source of financing for first-time home buyers, have increased five times since 2010,” according to an article in… Continue Reading FHA borrowers to save under Obama proposal

Oasis apartments sold for $40 million

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Oasis apartments sold for $40 million

Steadfast Apartment REIT bought the The Oasis, a 252-unit apartment community in Colorado Springs for $40 million. The transaction represents the REIT’s entry into Colorado. “We believe this property is well-positioned in a market experiencing mid-wage job growth that is much stronger than the U.S. average and has limited new apartment construction,” said Ella Shaw… Continue Reading Oasis apartments sold for $40 million

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Griffis/Blessing buys $45.5 million apartments

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Griffis/Blessing buys $45.5 million apartments

Griffis/Blessing, Inc., purchased the Bear Valley Park Apartments in Lakewood Tuesday, Dec. 30. The sales price was $45.5 million. The Class A-/B+ community was built in 2003 and is comprised of 260 apartment units with an average unit size of 996 square feet. The community amenities include a newly renovated clubhouse, a swimming pool, a state-of-the-art… Continue Reading Griffis/Blessing buys $45.5 million apartments

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Debt higher in Colorado than national average

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Debt higher in Colorado than national average

Average consumer debt in Colorado, excluding first mortgages, declined for the third consecutive quarter to $18,816, according to the Federal Reserve Bank of Kansas City’s latest Consumer Credit Reports. In Colorado Springs, 5.2 percent of mortgages are past due, or 30 days or more delinquent, including those in foreclosure, according to the Fed. Also, 2.5… Continue Reading Debt higher in Colorado than national average

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Real estate deals here total $4.8 million

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Real estate deals here total $4.8 million

The Kameron Family Partnership sold its 34,182-square-foot shopping center at 750 Garden of the Gods Road for $2.9 million. Michael Helwege of Colorado Springs Commercial was the sales broker. The new owner is Vieux Carre Holding Company, a firm founded in May this year with an address in Castle Pines and a registered agent named… Continue Reading Real estate deals here total $4.8 million

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Redfin real estate expands to the Springs

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Redfin real estate expands to the Springs

Redfin, a “customer-first” real estate brokerage firm will branch its home-buying and selling services to Colorado Springs. People can now work with Redfin agents to buy and sell homes in El Paso County as well as Monument, Palmer Lake, Woodmoor, Black Forest, Falcon, Fountain, Security-Widefield and Woodland Park. “We’ve been eager to extend our services to… Continue Reading Redfin real estate expands to the Springs

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Springs’ leases among lowest cost in U.S.

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Springs’ leases among lowest cost in U.S.

The growing reliance on cloud computing is reshaping traditional network computing and boosting demand for leased data center space in the U.S. For occupiers leasing a data center, Colorado Springs ranks among the markets with the lowest total project cost for leasing a data center, according to CBRE Group Inc. The CBRE Group, a commercial… Continue Reading Springs’ leases among lowest cost in U.S.

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Real estate transactions completed

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Real estate transactions completed

Marty Chase, Realtor with Weichert Realtors, was the buyer’s agent in the sale last month of three vacant land parcels in El Paso County, including 38 acres at the Forest Meadows subdivision. Colorado Morley Returns sold the 38 acres to Dillondon, and Craig Anderson of NAI Highland represented the seller. The sales price was $731,220. Terra… Continue Reading Real estate transactions completed

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Nor’wood buys Banning Lewis

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Colorado Springs-based Nor’wood Development Group announced Thursday it finalized its purchase of Banning Lewis Ranch, a transaction months in the making. Nor’wood had been under contract since June to purchase around 18,000 acres of the property from Texas-based Ultra Petroleum. Ultra, which paid $20 million for the property, sold Banning Lewis to Nor’wood for a reported $28… Continue Reading Nor’wood buys Banning Lewis

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Feffer’s seen decades of change here

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Feffer’s seen decades of change here

After graduating from the University of Arizona with a marketing degree, Gary Feffer began working at Goldwater’s Department Store, pursuing his dream of being a haberdasher. After comparing his life with that of his friends, he moved north to pursue commercial real estate. He is married and has four children: Sophie, Army, Davis and River.… Continue Reading Feffer’s seen decades of change here

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