Monday, April 18, 2011

Housing News Digest April 18

Congress Eliminates $88M in Funding for Housing Counseling

Within the package are cuts to federal agency budgets, one of which is HUD’s Housing Counseling Program. In lawmakers’ efforts to trim agency expenditures, $88 million slated to fund counseling efforts on foreclosure, reverse mortgages, refinancing, and pre-purchase services has been “zeroed out.”

High-rise apartment building on horizon for DU area

Big changes are in store for the southeast corner of South University Boulevard and East Evans Avenue with the planned development of an 11-story apartment building with street-level retail space.

Denver has low rate for CMBS delinquencies
Denver has the fifth-lowest delinquency rate for commercial-mortgage backed securities in the nation, according to Moody’s Investors Service’s Delinquency Tracker division.

CoStar: Commercial Real Estate prices increased slightly in February
The Composite Index, which is an equal-weighted analysis repeat sale pricing index incorporating both the Investment Grade and General Grade indices and a reflection of the broad overall market, posted a slight increase in property value for the month of February of 0.6%, reflecting the strong monthly increase in the General Grade repeat sale index. The Composite Index is down 7.5% year over year. [this is off 30.5 from the peak in August 2007]

U.S. homebuilder sentiment slipped a notch in April
WASHINGTON — U.S. homebuilder sentiment slipped a notch in April as home prices continued to fall in most areas of the country amid widespread foreclosures, a survey released on Monday showed.
The National Association of Home Builders/Wells Fargo Housing Market index fell to 16 from 17, leaving the index in the pessimist range for a full five years.