RSS

Archive | January, 2011

National round-up: Controversy over disputed foreclosures intensifies

17. January 2011

Comments Off

Last week I spoke to a number of Colorado congressional representatives about the likelihood of legislation to address questionable bank foreclosure practices. Nothing has been proposed yet, and it seems unlikely that any of our elected representatives will address such a sticky subject matter in the current session. But while legislators may be content to allow the matter […]

Continue reading...

Banning Lewis Ranch up for sale

14. January 2011

1 Comment

Banning Lewis Ranch went up for sale today. New York-based Eastdil Secured was hired to sell the 20,500-acre property on the east side of Colorado Springs. The land has been the source of a contentious legal battle since the property’s owner, Calif.-based Banning Lewis Ranch LLC, filed for bankruptcy in October. Click here to read […]

Continue reading...

Rising materials costs pinch contractors

14. January 2011

Comments Off

According to the latest figures from the Associated General Contractors of America, “nearly every material used by contractors rose in price” last month. The AGC said the increased materials costs have intensified pressure on the industry as bid prices have remained flat. And there is little optimism that a recovery is in the works. “Bad […]

Continue reading...

Freddie Mac: Short-term and long-term rates falling

14. January 2011

Comments Off

Mortgage rates fell across the board this week, according to Freddie Mac’s latest Primary Mortgage Market Survey. Rates on a 30-year fixed mortgage fell six basis points to a four-week low of 4.71-percent, while 15-year fixed rate mortgages fell five basis points to 4.08-percent. There was easing in the short-term markets as well, as rates on 1-year […]

Continue reading...

Real estate bills hit the floor

13. January 2011

Comments Off

The General Assembly opened yesterday, and of the 95 bills introduced, four of them pertain to the real estate market. Here’s the rundown: House Bill 11-1022, sponsored by Rep. Ray Scott, R-Grand Junction and Sen. John Morse, D-Colorado Springs. This bill would allow a mortgage loan originator to engage in three seller-financed transactions a year without going through the […]

Continue reading...

Construction unemployment tops 20-percent

12. January 2011

1 Comment

Construction employment dropped by 16,000 in December, bringing the industry unemployment rate to 20.7-percent, according to a report by the Associated General Contractors of America. The AGC said weak private sector demand coupled with the winding-down of stimulus programs continues to weigh on the industry. “At this point, it doesn’t look like there’s anything to replace […]

Continue reading...

The Street: Bad times ahead for the housing market

12. January 2011

Comments Off

Get your fill of housing market gloom from The Street’s Doug Kass today. Make it to the end and you’ll see this bit of particularly depressing commentary on the recent high court ruling from Massachusetts. Mark Hanson predicts: “The litigation phase of the foreclosure crisis is going to get out of control. Homeowners, originators, underwriters, trustees, servicers, […]

Continue reading...

Gov. Ritter names GE Johnson CEO to state education board

11. January 2011

Comments Off

Governor Bill Ritter on Monday appointed Jim Johnson, president and CEO of Springs-based GE Johnson Construction Co., to the State Board for Community Colleges and Occupational Education. Johnson will serve on the board through 2014. It was the final round of appointments for the outgoing governor. The full list of appointments can be found here.

Continue reading...

2011 off to a strong start for job growth and retention

10. January 2011

Comments Off

Job creation and retention efforts in Colorado Springs appear to be off to a strong start in 2011. Last week the Space Foundation announced it will move into a 45,000-square-foot building that will keep the organization in the city for at least another 15 years, and Minn.-based computer storage device manufacturer Xiotech Corp. announced plans […]

Continue reading...

Calif.-based church services firm moving to the Springs

10. January 2011

Comments Off

Outreach Inc., a church products and services firm, is relocating its headquarters from north San Diego County to Colorado Springs. The company will announce the move at a press conference with the Economic Development Corporation at the Antler’s Hilton today. About 50 employees will move with the company to Colorado Springs, and the firm expects to hire […]

Continue reading...