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Archive | March, 2011

National Association of Realtors: Pending home sales rise, a little

29. March 2011

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Last week I reported here and again here on the dismal sales of new single family homes. The market for new homes continues to struggle as the bulk of residential real estate transactions are sales of distressed, previously owned homes. So we should be seeing a considerable uptick in the sales of previously owned homes, right? Kind of, I guess. Today […]

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Developer moves ahead on luxury apartment complex in the Springs

28. March 2011

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Last month I reported on how the Colorado Springs apartment market was at a tipping point, with the balance of power moving from renters to landlords. The demand for apartments is up as the housing crisis has turned former homeowners into renters, and supply is down as builders have held off on constructing new units. […]

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Gloomy census and FHFA data weighs on housing market

24. March 2011

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Seperate reports released yesterday by the US Census Bureau and the Federal Housing Finance Agency do not bode well for the local housing market. According to this FHFA report, housing prices continued on a downward trend, falling 0.3 percent from December to January. For the 12 months ending in January, prices fell 3.9 percent to […]

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Bestway Disposal buys 19-acres in Colorado Springs for recycling ops

23. March 2011

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Colorado Spings-based Bestway Disposal purchased six buildings totaling 90,000-square-feet on nearly 19-acres of land at 4005 Interpark Drive. Aaron Horn of Sierra Commercial Real Estate represented the buyer in the $2.9 million deal. Randy Churchill Dowis of NAI Highland Commercial Group represented the seller, Magnolia LLC. Bestway will use a 50,000-square-foot building for recycling operations. […]

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Springs moves ahead despite House vote to kill Neighborhood Stabilization Program

23. March 2011

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The U.S. House might have voted to kill the third round of funding for the Neighborhood Stabilization Program last week, but the Colorado Division of Housing is moving ahead on the program in case the bill doesn’t pass the Senate or is vetoed by the President. The Neighborhood Stabilization Program provides funding to cities for purchases of […]

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Foreclosure filings in freefall due to “robo-signing” scale-back

17. March 2011

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The Colorado Division of Housing reported a 26 percent drop from January to February in new foreclosure filings for the state’s metropolitan counties – but it’s not time to call the end of the foreclosure crisis just yet. The reduction is likely the result of mortgage servicers processing foreclosures at a slower pace due to the ongoing fallout from the “robo-signing” controversy. “There […]

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USOC mulls renovation options for training center

16. March 2011

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Last week I wrote about the emerging trend of homeowners opting to remodel their current homes rather than buy new ones. The latest to hop that trend? The US Olympic Committee. The USOC held its quarterly Board of Directors meeting yesterday at Turner Field in Atlanta, Ga. Among the items discussed was adding an additional […]

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Colorado Springs one of the Top 100 hottest remodeling markets

15. March 2011

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Earlier this month I highlighted the growing trend of homeowners opting to remodel their existing homes rather than buy new ones. The full article can be found here. Today, Hanley Wood Market Intelligence released a list of the 100 hottest remodeling markets in the US, and Colorado Springs checked in at number 47. The rankings are based […]

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CoreLogic: 20 percent of Colo. residential mortgages are under water

14. March 2011

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Nearly 20 percent of all Colo. residential mortgages had negative equity in the fourth quarter of 2010, according to a report from Corelogic. Of the 1.1 million residential mortgages in the state, CoreLogic siad over 224,000 are underwater and another 90,000 are considered “near” negative equity (less than 5 percent equity). The bulk of negative equity […]

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Colorado Springs T-Mobile call center building sells for $11.2

10. March 2011

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Prices for industrial real estate in Colorado Springs have rolled back to decade lows, and some investors are looking to take advantage before that trend reverses. In the largest industrial building transaction for the Pikes Peak region so far this year, Midnight Sun Capital LLC purchased a T-Mobile call center building for $11.175 million. The […]

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