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Archive | January, 2011

Mass. court voids two bank foreclosure seizures in key ruling

7. January 2011

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A Mass. court ruled today that Wells Fargo and U.S. Bancorp could not prove they held the mortgages in two properties seized due to foreclosure. This is one of the first and highest profile rulings on the validity of foreclosures without proper documentation, although we’re likely to see many more in the months ahead. Here […]

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RCD: Census Bureau overstates size of construction materials market

7. January 2011

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Census Bureau data indicates that construction materials suppliers have expanded production by 6 percent in the last year, but Reed Construction Data said this trend is misleading. According to RCD Chief Economist Jim Haughey, production and shipments are increasing slower than the rise in the materials price index, resulting in a market that remains “stalled.” […]

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Mortgage rates drop in first week of 2011

7. January 2011

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Both long and short-term rates eased in the first week of 2011, according to the most recent Freddie Mac survey. Rates on 30-year fixed-rate mortgages averaged 4.77-percent, down from 4.86-percent in the final week of 2010. “Mortgage rates began the new year a little lower this week and remained below those at the start of 2010,” said […]

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Colorado Association of Realtors to introduce licensing legislation

6. January 2011

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The Colorado Association of Realtors, with the help of Rep.-elect Ray Scott, Grand Junction, and Sen. John Morse, Colorado Springs, will introduce legislation to remove restrictions from the SAFE Act of 2010. CAR said that the timing of the passage of House Bill 1141, which was designed to ensure the licensing of all mortgage loan […]

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Realtor Tim Leigh on bid for council: “I’m in it to change the paradigm”

6. January 2011

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I spoke with Tim Leigh, owner of local real estate company Hoff & Leigh, about his bid as an at-large candidate for city council. Leigh is not shy, and he talks fast about his candidacy with the wide-eyed optimism of someone who actually believes they can make a difference. If he is elected, one can only hope […]

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Pikes Peak Association of Realtors: We’ve got charts

5. January 2011

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The Pikes Peak Association of Realtors produced its annual sales summary this week, and the pictures say it best. A wealth of colorful charts can be found here. The trends are sometimes pretty, sometimes ugly, and always confounding. The highlights: >> The average number of days on market steadily and substantially increased since July, when it bottomed-out at […]

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Grubb & Ellis 2011 forecast: What’s in store for Colorado Springs?

5. January 2011

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I sat down with Grubb & Ellis Office and Investment Professional Andy Oyler at the Starbucks on the corner of Tejon and Bijou this week to discuss what’s on tap for the Colorado Springs real estate market in 2011. Here’s a summary of what the firm expects from each market segment in the year ahead, with […]

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