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Archive | January, 2011

FHA extends loan program for ‘flipped’ houses

31. January 2011

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The Obama administration extended for another year a program that allows buyers of flipped houses to obtain Federal Housing Administration-backed loans. Last year, the FHA lifted a ban that prevented buyers from obtaining government-backed mortgage insurance on homes bought less than 90 days after a previous sale. The ban, which was in place to prevent […]

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FHA smacks Wheat Ridge lender

27. January 2011

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The Federal Housing Administration will terminate funding to Wheat Ridge-based Moncor Inc. The Department of Housing and Urban Development monitors companies that receive federal funding, and advises the FHA to pull funding if a mortgagee’s default rate is abnormally high. Moncor can apply for reinstatement in six months. Find out what other companies lost federal backing here.

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Colorado House unanimously passes first two real estate bills

27. January 2011

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The Colorado House resoundingly passed two of the four real estate-related bills introduced so far this year. House Bills 11-1022 and 11-1023 are both going to the Senate with unanimous House support. The first bill, sponsored by Rep. Ray Scott, R-Grand Junction, and Sen. John Morse, D-Colorado Springs, was introduced to clean up collateral damage from the […]

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Does this Calif. congressman have a plan to kill the foreclosure crisis?

26. January 2011

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“This legislation is designed to acheive what all other foreclosure prevention programs have failed to do: stop the onslaught of foreclosures.” — from Congressman Dennis Cardoza’s website That’s a bold statement, so take a look at the proposed legislation yourself. Dennis Cardoza, D-Calif., has reintroduced the Housing Opportunity Mortgage Equity Act (HOME) to the US House of […]

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Academy Boulevard revitalization team to present findings

25. January 2011

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The Academy Boulevard Great Streets study team will present findings from its eight-month transportation and revitalization study Wednesday. The meeting will be open to the public from 4:30-6:30 p.m. at the Jack Swigert Aerospace Academy, 4220 E. Pikes Peak Ave. Mayor Lionel Rivera is scheduled to attend. The team, in conjunction with City of Colorado […]

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HUD awards $1.7 million to Colorado Springs for homeless programs

20. January 2011

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The US Department of Housing and Urban Development awarded $1.4 billion in funding to homeless assistance programs across the country yesterday. Colorado received $18.6 million in funding, with the bulk of that, over $14 million, directed at Denver. Colorado Springs and El Paso County will be getting nearly $1.7 million. According to HUD Secretary Shaun Donovan, the money […]

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Colorado Springs apartment vacancies at lowest level since 2001

19. January 2011

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Colorado Springs apartment vacancies fell to 7.2-percent in the fourth quarter of 2010, according to a report out today by the Colorado Division of Housing. Vacancy rates fell 1.5-percent from the fourth quarter in 2009, to the lowest level of fourth quarter vacancies since 2001. “After years of moving sideways from 2003 through 2008, apartment vacancy […]

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Banning Lewis: A conversation with HBA President Kyle Campbell

19. January 2011

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I spoke with Kyle Campbell, the newly installed President of the Colorado Springs Housing and Building Association, for the one-on-one portion of our print edition out Friday. I took advantage of my time with him yesterday to get his thoughts on the recent announcement that Banning Lewis Ranch is up for sale. Our conversation is […]

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Homebuilders ready to battle over mortgage interest deduction

18. January 2011

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In a December column, I wrote about how increased pressure to reduce the national deficit could lead to elimination of the mortgage interest deduction. As an incentive for middle class homebuyers, the deduction has long been a sacred cow for those in the real estate industry. But it’s the second most expensive tax break, costing the […]

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Construction equipment firm expanding along the front range

17. January 2011

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Witchita-based construction equipment firm Berry Companies plans to expand along the front range, the company announced today. A subsidiary of the Berry Companies, Bobcat of the Rockies, has existing dealerships in Colorado Springs, Commerce City, Fort Collins, Golden, Grand Junction, Greeley and Parker. Bobcat of the Rockies recently merged with Colorado Machinery, and the new company […]

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