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Effects of slowing office real estate market

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The commercial office real estate market seems to have leveled off after a busy 2007, which means an increase in rental rates. Steve Bach of Bach Real Estate Partners reports that metro office leasing and absorption are both down as of 2007 year end, compared to 2006. The real vacancy rate, in contrast, is closer… Continue Reading Effects of slowing office real estate market

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It’s taking 10.5 months, on average, to sell a home in the Pikes Peak region. That’s the latest reading from ERA Shields Real Estate, based on the latest Multiple Listing Service data. While homes in the $150,000 to $325,000 range are selling in 7.3 months, single family houses priced from $325,000 to $700,000 are averaging… Continue Reading 10 ½ months to sell a home

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Hotel construction hot in 2008

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Hotel construction may be one of the few national bright areas for new construction in 2008, and a few local projects could make that the case locally, too. Lodging Econometrics, said that the further quarter “pipeline” rose 36 percent from the same quarter in 2006. Specifically, data through Jan. 25 showed projects already under construction,… Continue Reading Hotel construction hot in 2008

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More than 2.2 million foreclosure filings were reported nationally during 2007, an increase of 75 percent compared to 2006. RealtyTrac’s 2007 U.S. Foreclosure Market report also shows that more than 1 percent of all U.S. households were in some stage of foreclosure during the year, up from 0.58 percent during 2006. Nearly 216,000 foreclosure filings… Continue Reading Nearly 2 percent of all Colorado homes in foreclosure

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Researchers have different opinions about economic trends in the construction industry, based on 2007 data. For the year, McGraw Hill reported total construction was down by 11 percent last year, compared to a 3-percent drop during 2006. Modest declines were reported for nonresidential building and non-building construction (public works and utilities), which were offset by… Continue Reading McGraw Hill, Federal Reserve differ on construction industry

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Year end sees slowdown for contractors

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The value of nonresidential construction starts during 2007 was up 11.2 percent from 2006, according to Reed Construction Data, a national construction industry research firm. On a month-to-month basis, job starts increased 5.2 percent during December after weak showings during October and November. However, starts weakened at the end of 2007, with the final three… Continue Reading Year end sees slowdown for contractors

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In remarks to the Jefferson County Association of Realtors this week, Lawrence Yun, chief economist and senior vice president of real estate for the National Association of Realtors said Denver may have escaped the worst of the housing slump. Factors that led to that conclusion included Denver’s lower-than-national-average unemployment rate and stronger job creations statistics,… Continue Reading Denver’s housing market in enviable position

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Banning Lewis gets first resident today

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In a precursor of things to come, Banning Lewis Ranch’s first residents will move into their Northtree home today. Recently married, former Fort Collins residents Lucas and Veronica Fenske greeted development and city representatives at a press conference today before moving into their new home. The move-in follows six years of planning and preparation for… Continue Reading Banning Lewis gets first resident today

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Commissioners approve developer park fees

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The El Paso County Board of Commissioners has approved the 2008 Regional and Urban Park Fees that are paid by developers per housing unit to in turn fund regional and urban parks. The fees for neighborhood parks are $105, for community parks $161 and for Regional parks $422. The Board approves these fees each year… Continue Reading Commissioners approve developer park fees

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Construction, operation and maintenance of commercial real estate properties accounted for more than 10 percent of Colorado’s total economic output during 2007. Independent researchers commissioned by the Colorado chapter of the National Association of Industrial and Office Properties or NAIOP-Colorado, found that the state’s commercial real estate sector generated $24.3 billion in direct and indirect… Continue Reading Commercial real estate investment tops $24 billion

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