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New home sales plunge to 12-year low

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Sales of new homes dove last month to their lowest level in more than 12 years. The Commerce Department reported Friday that new-home sales dropped 9 percent from October to November to a seasonally adjusted annual rate of 647,000 – the worst showing since April 1995, when the rate was 621,000. The median sales price… Continue Reading New home sales plunge to 12-year low

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In an effort to cut costs, the Greater Colorado Springs Chamber of Commerce is moving from its offices at 2 N. Cascade Ave. into the Exchange National Bank building at 6 S. Tejon St., suite 700. The new location, where U.S. Bank is located, has lower rent, said Joan Saunders, chamber chief operating officer. “Our… Continue Reading Chamber moving to Exchange National Bank building

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November foreclosures up 68 percent

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The number of November foreclosure filings nationwide surged 68 percent compared with the same month a year ago. Analysts from RealtyTrac say that in all, 201,950 foreclosure filings were reported last month, compared with 120,334 during November 2006. Still, last month’s filings are down 10 percent from October’s 224,451. The decline in filings from October… Continue Reading November foreclosures up 68 percent

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Patriot Park campus adds ITT Corp.

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The ITT Corp.’s Systems Division will lease 75,000 square feet in Corporate Office Properties Trust’s Patriot Park, at 655 Space Center Drive. The 180-acre office park is located at the intersection of Powers Boulevard and Highway 24 next to Peterson Air Force Base. Based in Colorado Springs, ITT’s Systems Division provides systems support and technical… Continue Reading Patriot Park campus adds ITT Corp.

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Representatives from the El Paso County Environmental Services Department attended a public meeting in Denver last night to recommend removing the Preble’s Meadow Jumping Mouse from the Federal List of Threatened and Endangered Species in El Paso County. The move comes after the U.S. Fish and Wildlife Service announced on Nov. 1 that the Preble’s… Continue Reading El Paso County wants Preble’s mouse taken off endangered list

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The National Association of Realtors’ prognosis for 2007 and 2008 home sales is a little more optimistic. The NAR revised monthly forecast calls for existing home sales to fall 12.5 percent this year to 5.67 million. Last month, the association predicted 5.66 million existing homes would be sold this year. Still, the revised figure would… Continue Reading Realtors’ housing market outlook a little rosier

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U.S. homeowners have less than one month to utilize a federal tax credit aimed at encouraging home energy efficiency. The measure, created by the Energy Policy Act of 2005, allows for a credit of up to 10 percent – or $500 – of the cost of materials for certain home improvements completed before Jan. 1,… Continue Reading Time running out for energy efficiency tax credit

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For the first time in 13 years, house prices fell in 21 states during the third quarter, according to a government index. Average home prices fell by 0.4 percent nationwide from the previous quarter, according to the latest Office of Federal Housing Enterprise Oversight House Price Index [730 Kb PDF]. The index tracks homes with… Continue Reading Pikes Peak region continues to see home price stability

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National women’s sportswear retailer Title Nine will move into the longtime vacant downtown retail space next to Terra Verde this spring. The storefront, at 210 N. Tejon St., has sat empty for more than three years. The space, along with Terra Verde’s, was once home to the Chinook Book Shop, but when Chinook went out… Continue Reading Title Nine to fill longtime empty space next to Terra Verde

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Commercial sales affected by credit crunch

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Office building sales across the U.S. fell 70 percent during October from a year earlier, according to a report this week from Reuters. The story said a Nov. 20 report issued by Real Capital Analytics shows that sales of office properties that typically sell for more than $5 million fell to $4.4 billion during October.… Continue Reading Commercial sales affected by credit crunch

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