Thursday, April 28, 2011

Housing News Digest, April 28

New housing plan addresses concerns
The North Carolina-based developer Campus Crest, which is proposing a 27-acre 612-bed student-housing project known as The Grove at Fort Collins, held an open house Wednesday evening to showcase and garner public input on its new sustainable design.

Pinnacle Real Estate Advisors LLC announced the sale of Boulevard Park, a 103-unit apartment community at 2443 S. Colorado Blvd., for $6.6 million.

Former Fort Collins real estate broker indicted in land scheme
Matthew Sysum, 41, was arrested following a two-year investigation by the Weld County District Attorney's Office. He is accused of conspiring with an appraiser to overvalue the price of properties he was offering for sale, and also selling land that he did not yet own, with the help of a title company.

Building activity drops
Developers and builders pulled 1,116 building permits for homes, condos/town homes and apartment units in the first quarter, compared with 1,375 permits during the first quarter of 2010, according to the report by the Home Builders Association of Metro Denver. The report includes the counties of Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Elbert, and Jefferson, as well as 22 municipalities. Permits signal future construction, as builders pull them before they start construction.

Case-Shiller: Denver No. 5
The Denver-area housing market showed a 2.6 percent decline in value in February from February 2010, but that was still good enough for fifth place out of the 20 metropolitan statistical areas tracked by the closely watched S&P/Case-Shiller Home Price Indices released today.
See CDOH analysis here - http://www.divisionofhousing.com/2011/04/case-shiller-denver-home-prices-down.html