Thursday, April 21, 2011

Housing News Digest, April 22

Springs apartments getting tough to find
Local apartments are getting tougher to find and rents are on the rise as a result, two reports show.

The local apartment vacancy rate dropped to 5.8 percent during January, February and March, down from 7.2 percent in the fourth quarter of last year, according to a Colorado Division of Housing and the Apartment Association of Southern Colorado survey of the market released this week.
(Colo Springs Gazette)

Apartment vacancies drop to lowest levels in a decade
It’s getting harder to find an apartment in Colorado Springs.
Vacancy rates for the metro area fell to 5.8 percent during the first quarter, the lowest since 2001, and a 15.7 percent drop from the same time period in 2010.
(Colo Springs Business Journal)

2 Colorado lenders join HUD home energy-upgrade program
The U.S. Department of Housing and Urban Development has approved two Colorado lenders in a new pilot program that grants low-cost loans to homeowners wanting to make energy-saving improvements, HUD announced Thursday.

Colorado Brightwater Club Golf Development Files Bankruptcy
April 20 (Bloomberg) -- Clearwater Development Inc., operator of the Brightwater Club, a gated community in Colorado, filed for bankruptcy protection from creditors with debt exceeding $100 million.

The company said its debt included secured claims of $69.5 million and unsecured claims of $32.8 million. Assets, mostly real estate, were $8.29 million, according to an April 18 filing in U.S. Bankruptcy Court in Denver.

$1 million judgment against broker

A Denver District Court judge has barred a Centennial mortgage broker from issuing loans in Colorado and fined him and his companies almost $1 million in civil penalties.