• Archive of "Colorado" Category

    Colorado real estate market

    May 25, 2010 // No Comments »

    City and County of Denver
    Image via Wikipedia

    The Colorado real estate market seems to be rallying strongly, especially when considering the metropolitan areas of Denver and Colorado Springs. Although foreclosures continue to increase slightly, the inventory of foreclosures is being cleared more rapidly than in previous months. This is according to a May 13, 2010 article in the Denver Business Journal, which found that “Foreclosure sales in Colorado shot up 53.6 percent in the first quarter of 2010 from the same period a year earlier, and new foreclosure filings rose 6 percent, the Colorado Department of Local Affairs’ Division of Housing reported Thursday.” The piece by Mark Harden continued to say that “But officials said the year-ago foreclosure-sales total was pushed down by a national moratorium on processing foreclosures. They said that between first-quarter 2008 and first-quarter 2010, a comparison that straddles the moratorium, foreclosure sales rose a more modest 13.3 percent, or an average of 6.7 percent per year.”

    Colorado homes for sale in Denver sold for slightly more compared to last year, according to a May 11, 2010 article in the Denver Business Journal. This article found that “Single-family home prices in metro Denver slipped in March from the previous months but rose 4.1 percent from 12 months earlier, according to a report Tuesday from Integrated Asset Services LLC.” The piece, written by Mark Harden, continued to say that “The monthly ‘IAS360 House Price Index’ report from IAS, a Denver-based default-mortgage services company, said the median single-family home price in the Denver-Aurora metro area declined 0.7 percent in March, following a 0.2 percent rise in February. But year over year, the index showed a 4.1 percent increase in the area’s median price between March 2009 and March 2010.”

    Colorado real estate in the Colorado Springs area also rallied strongly in recent months, according to a May 5, 2010 article in the Colorado Springs Gazette. The piece, written by Rich Laden, continued to say that “Colorado Springs-area home prices and sales rose again last month, the latest in a string of improved showings the local resale market. Home sales totaled 792 in April, an 11.9 percent increase over the same month last year, according to a Pikes Peak Association of Realtors report.”

    Reblog this post [with Zemanta]

    Posted in Colorado

    Boulder Colorado Real Estate

    December 15, 2009 // No Comments »

    Pearl Street Mall in Boulder, Colorado.
    Image via Wikipedia

    The Boulder real estate market is in slightly better shape than the rest of Colorado, although there are still serious problems with the region, and the city seems to be facing a rather tepid recovery. According to a November 25, 2009 article in the Boulder County Business Report, “It’s a cliché phrase in the real estate world, but experts at the Boulder Valley Real Estate Conference & Forecast told audience members that ‘now is the time to buy.’ Giving their views for 2010, local and national real estate experts said they expect the economy to slowly recover, and along with it interest rates likely will rise. About 500 people attended the conference presented by the Boulder County Business Report on Nov. 19 at the Millennium Harvest House Boulder. Lead sponsors were Re/Max of Boulder and The Colorado Group. Brad Blackwell, retail national sales manager of Wells Fargo Home Mortgage, said the U.S. Federal Reserve plans to slowly withdraw its emergency support from the mortgage markets, which likely will raise rates starting in January.”

    Boulder home sales are at least partially dictated by price levels in the city, at least according to a November 24, 2009 article also in the Boulder County Business Report. The piece noted that “Home prices in Boulder County depreciated annually for the first time in 21 years, according to the latest figures from the Federal Housing Finance Agency. The agency, which tracks conforming loans and refinances across the nation’s metropolitan statistical areas, said home prices decreased 0.56 percent year-over-year in Boulder County during the third quarter.”

    One potential problem area for real estate in Boulder was the level of foreclosures, which, although lower than the rest of the state, are still considerably higher than before the recession. According to a November 19, 2009 article in the Denver Post, “New foreclosure filings in Colorado reached a record high of 12,468 during the third quarter, according to a report released Thursday by the Colorado Division of Housing…The rates in Boulder and Broomfield counties, by contrast, were 329 and 230 households per completed foreclosure, respectively. Industry observers say completed foreclosures are down because borrowers are seeking help with loan modifications from Colorado’s foreclosure hotline.”

    Reblog this post [with Zemanta]

    Posted in Colorado