Thursday, April 21, 2011

Housing News Digest, April 21

Report: Apartment Vacancy Rates Lowest In A Decade
Colorado Springs boasts its lowest apartment vacancy rate in a decade, according to new statistics released by the Colorado Division of Housing.

The vacancy rate fell to 5.8 percent for the first quarter of 2011, the lowest first-quarter vacancy report since 2011 and 15.7 percent lower than the reported first-quarter rate in 2010. The DOH says that this is also the eighth quarter in a row for the vacancy rate to be lower than the same quarter a year earlier.

Springs apartment vacancy rate at 10-year low
The apartment vacancy rate in the Colorado Springs metro area fell to 5.8 percent during the first quarter of 2011, falling to the lowest first-quarter vacancy rate reported since 2001, shows a report released today.

HOAs compared to Mafia
Alex Walter and Jim Burneson have a lot in common. They’re about the same age, they have long histories in real estate, they lived in the same Aurora community – Dam East – for years, and they have been friends for decades.

And they both despise homeowner associations.

Colorado job market is looking better
KUSA - Colorado's unemployment rate is at 9.3 percent, which is higher than the national rate of 8.8 percent. Despite these disappointing figures, things may be looking up in the Colorado job market.

HOA registration law
In case you didn’t think HOAs are a big deal, think again. Some 7,652 HOAs in Colorado have registered with the state of Colorado, a requirement of a law passed by legislators last year that went into effect in 2011

The HOAs registered with the Department of Regulatory Agencies, or DORA, as required by House Bill 1278, represent 817,675 units. Observers believe that means well over one million people live in HOA communities.