Tuesday, May 10, 2011

Housing News Digest, May 10

Colo. legislators pass bill banning private transfer fees on home sales

Colorado is close to joining 27 other states that have banned private transfer fees on home sales.
A bill to ban covenants that impose the fees on residential properties zoomed through the legislature with strong support last week. The governor is expected to sign the bill in early June.

Denver's Oakwood Homes offers energy-bill guarantee
A Denver-based homebuilder has launched a program that guarantees its buyers' energy bills for the first two years they own one of the company's homes.

Zillow says 41% of metro Denver homeowners underwater, but experts doubt that
It isn't the first time Zillow data has come under fire.
Last spring, a Forbes report relying on Zillow data ranked Denver as the second-worst selling housing market in the country. The report claimed there were twice as many homes for sale in the region as were actually listed. Citing the discrepancy, Forbes said a few days later it would limit its use of Zillow data.

March foreclosures down 50%
Foreclosure filings in a dozen major counties in Colorado in March fell by almost 50 percent from March 2010, dropping to a 31-month low, according to a state report released today. The report by the Colorado Division of Housing shows that foreclosure filings fell 6.4 percent from February to March as lenders and servicers continued to process foreclosure slowly and as stability continued to slowly return to local real estate markets.

Home prices decline 3.9% in Denver area in Q1
Read more: Home prices decline 3.9% in Denver area in Q1 | Denver Business Journal
The median single-family home price in metro Denver declined 3.9 percent in the first quarter of 2011 from the same period a year earlier, according to a report Tuesday from Denver-based Integrated Asset Services LLC.