Tuesday, April 19, 2011

Housing News Digest, April 19

Americans Shun Cheapest Homes in 40 Years as Ownership Fades
April 19 (Bloomberg) -- Victoria Pauli signed a one-year lease last week to stay in her rental home in Fair Oaks, California. She had considered buying in the area, where property prices have slumped 57 percent since a 2005 peak.

Luxury home market flat
Luxury home sales and the median sale price in the Denver Metro Area were flat last month compared to year-ago levels, although sales were up from February, according to Coldwell Banker Residential Brokerage.

Waters Introduces Bill Calling for Mandatory Loss Mitigation
Mortgage servicing practices have taken center stage on Capitol Hill, with a flurry of bills being penned to make servicing reforms the law of the land.

Rep. Maxine Waters (D-California) has revised a bill she’s brought to the table several times before that would compel lenders to engage in what she says are “reasonable loss mitigation activities” for all delinquent homeowners.

Verdigris Group Advances Carbon Neutral Operational Policy to Include Watershed Restoration and Reforestation to Their Suite of Initiatives
Verdigris Group’s three primary operating divisions include their development division, Verdigris Properties, which concentrates on developing green / LEED Certified commercial and residential properties. They are currently in the due diligence phase of land acquisition for a planned multi-family project in Breckenridge, Colorado that is slated to achieve LEED Gold Certification under the U.S Building Council's Leadership in Energy & Environmental Design green building rating system. “This project will be the first of its kind in this market-place, setting a new bar in residential real estate development in Summit County and across the high-country, and serving as a beacon of what sustainable development can achieve,”

Breckenridge Colorado Resort Real Estate Market Analysis – Q1 2011
The Breckenridge real estate market is continuing to make a comeback from the market lows of 2009 and this comeback is being lead by Breckenridge investment property sales. The number of first quarter single family home sales are also up for the second year in a row. Vacant land continues to be the weakest segment of the Breckenridge real estate market. But even vacant lot sales have seen an increase during the first quarter of 2011 over those of Q1 2009.