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Archive | October, 2011

Colorado Springs foreclosure rates drop

27. October 2011

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Colorado Springs foreclosure rates fell in August and are lower than the state or national average, according to CoreLogic data. CoreLogic is a real estate analysis firm that regularly releases market reports. Just 1.49 percent of all outstanding mortgages in Colorado Springs were in some stage of foreclosure in August. That’s a decrease from 1.72 […]

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Housing snapshot: Unemployment higher, housing prices dip lower in Springs

26. October 2011

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Unemployment is higher in Colorado Springs than it is in the rest of the state and housing prices have slipped farther, according to data compiled in the Colorado Division of Housing Market Snapshot released earlier this week. While the unemployment rate fell in Colorado Springs to 8.6 percent in September, it has been and remains […]

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Condo prices down 19% from peak

21. October 2011

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Condo and townhome prices in the Pikes Peak region have fallen about 19 percent from their peak and are close to prices of late 2005 and early 2006, according to the Colorado Division of Housing. Division spokesman Ryan McMaken analyzed CoreLogic and Multiple Listing Service data to determine that condo prices have been consistently falling […]

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Arizona company named receiver for Market Center

17. October 2011

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A Phoenix-based real estate company was named as the court appointed receiver for Market Center shopping center on the northeast side of town. The 244,000-square-foot shopping center near Austin Bluffs Parkway and Barnes Road went into foreclosure on a $19.5 million loan a few months ago. Hannay Realty Advisors, an Arizona commercial real estate services […]

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Lakewood investor buys Rustic Hills-area apartments cheap

17. October 2011

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A Lakewood real estate investment firm purchased the Rustic Hills Park Apartments for $4.2 million last week. The 243-unit complex was one of the last distressed properties on the market in Colorado Springs and sold for just $17,279 per unit or $17.37 per square foot, according to a release from Apartment Realty Advisors, which brokered […]

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Mountain Real Estate buys Promontory Pointe development

10. October 2011

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Mountain Real Estate Capital closed on an investment with Classic Homes of Colorado Springs to develop Promontory Pointe, a 267-lot community located in Monument, Colo. Promontory Pointe was originally developed as a John Laing Homes community and had been tied up in bankruptcy since 2009, according to a release from Mountain Real Estate. Classic Homes […]

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Rustic Hills doesn’t sell to investor at foreclosure auction

5. October 2011

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The Rustic Hills Shopping Center sold back to the original lender at the El Paso County Public Trustee’s foreclosure auction today. Lender GCCFC 2005-GG5 Palmer Park LLC bought the strip mall property near Academy Boulevard and Palmer Park Drive for a little more than $19.6 million. The lender declared a loan deficiency of $976,752. No […]

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Grubb & Ellis to manage Parker commercial development

5. October 2011

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Grubb & Ellis announced this week that it will market 148 acres of land within Compark Business Campus, a 480-acre mixed-use development located at the intersection of the East 470 Tollway and Chambers Road in the Town of Parker for MPV Compark Management. The business park is home to four parcels zoned for office or […]

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Trustee report: Foreclosure ‘cures’, private party sales down

4. October 2011

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Fewer homeowners struggling with foreclosure have been able to “cure” their defaults in recent months than during the same time last year or even earlier this year. El Paso County Public Trustee, Thomas Mowle, issued his end-of-month report for September, which revealed that new foreclosure starts were up in August and September to the second […]

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