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Apparently, the only thing “short” about the current short sale process is the price. It takes from six to 12 months to complete a short sale, a time frame that real estate agents and brokers say hurts both homeowners and mortgage holders. David Liniger, co-founder and chairman of the board of Re/Max International, is one… Continue Reading A long and winding road: the short sale conundrum

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As if the recession hasn’t been hard enough on home sellers and their real estate agents, last month, Wall Street economists dealt another blow to the solar plexus, predicting an upsurge in default mortgages through 2011. And based on the latest projections, it takes a rare combination of broker wizardry and Zen-like calm to guide… Continue Reading Even skilled short sale wizardry not always enough

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There’s real estate, and then there’s incomparable and one-of-a-kind Colorado terra firma. In a move to preserve some of the city’s prime land for open space and parks, the El Paso County Board of Commissioners has approved a zoning change that clears the way for the City of Colorado Springs to acquire 42.5 acres of… Continue Reading City’s acquisition of White Acres gets green light

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Million dollar marketers mull milder future

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Brokers finding it more difficult to close deals on luxury homes This year’s headlines pretty well summarize the state of the national luxury home market: “Market for new million-dollar homes drying up” — Las Vegas Sun, April 2009 “Higher-end home sales are slipping” — San Diego Union-Tribune, Feb 2009 “California million-dollar home sales hit 5-year… Continue Reading Million dollar marketers mull milder future

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Where have all the Texans gone?

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Sales of high-end second homes not expected to rebound quickly Seasonal buyers looking for a second home will account for only 15 percent to 20 percent of the total luxury home market during 2009. That’s a stark contrast to four years ago, when The Broadmoor sold two-thirds of its $1 million to $2.5 million Brownstones… Continue Reading Where have all the Texans gone?

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To invest or not to invest?

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Commercial real estate has begun to spin through its own recessionary spiral.
As a result, a new category – distressed commercial real estate – has become an increasingly attractive commodity to some investors. Continue Reading To invest or not to invest?

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COPT buys R.T. Logic building

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Corporate Office Properties Trust, Colorado Springs’ largest commercial real estate investor, has purchased the 61,504-square-foot R.T. Logic building and 5 acres of adjacent land for $12.5 million. The facility at 12515 Academy Ridge View was built during 2005. R.T. Logic, a wholly owned subsidiary of Integral Systems, Inc. has occupied the building since it opened.… Continue Reading COPT buys R.T. Logic building

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Owners need not fear: Investors to the rescue

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As the distressed commercial property drumbeat escalates, companies like Griffis Blessing G.B. Value Partners and A10 Capital have entered the local market. The Front Range — including Colorado Springs — is clearly in play. Alan Welty, A10 Capital’s Denver-based executive vice president, said he’s looking for owner/users, commercial brokers or banks in need of a… Continue Reading Owners need not fear: Investors to the rescue

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Bubble-burst provides opportunity

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Nationally, the distressed commercial real estate trend began months — even years — ago as Wall Street and savvy lenders watched the real estate bubble begin to burst. The Wall Street Journal, CNNMoney.com, the Wharton School of Business’ Knowledge@Wharton.com and Bloomberg.com have trumpeted the promising opportunities emerging from recession-clobbered shopping centers, multifamily, office and industrial… Continue Reading Bubble-burst provides opportunity

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Homes: differing surveys, differing views

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The national news has a way of trickling down to local markets — and sometimes the news appears better closer to home. For example, while U.S. home sales grew by 11 percent, year over year, based on Commerce Department and Census Bureau data released this week, industry experts cited lower home prices for the improvement.… Continue Reading Homes: differing surveys, differing views

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