Thursday, May 5, 2011

Housing News Digest, May 6

Fort Carson formally opens new housing area
The Army is formally opening a new residential area for soldiers at Fort Carson with 180 four-bedroom houses.

Colorado foreclosure filings, auction sales down in first quarter (Housing Wire)
First-quarter foreclosure filings in Colorado fell 27% from the year-ago period, to the lowest level since the third quarter of 2008 and possibly indicating some housing market stabilization in the state.

New foreclosure filings totaled 8,115 during the period, according to the Colorado Division of Housing. Foreclosure sales at auction also dropped, the state agency said, down 16% from a year earlier.

Foreclosure woes ease in Colorado Springs, El Paso County (CS Gazette)
Foreclosure woes have eased in Colorado Springs and El Paso County, mirroring a statewide trend that shows a sharp reduction in the pace of foreclosure activity, according to a Colorado Division of Housing report released Thursday.

Colorado foreclosures drop 27% in first quarter as filings slow(Den Post)

Read more: Colorado foreclosures drop 27% in first quarter as filings slow - The report said the decline likely reflects "some true stability in Colorado housing markets" but added that the decline in new filings cannot be attributed to market conditions since lenders and servicers continue to proceed with "an unusually high degree of caution when processing foreclosures."

So many foreclosures, so few lawyers
Twenty-three states in the US require that courts process foreclosures. Some states, like Florida, simply don't have enough lawyers to pick up all of the cases.

Mesa County’s foreclosure filings fall (GJ Sentinel)
Some indicators suggest fewer foreclosed homes may be headed for the auction block. Bray Real Estate broker associate David Durham said bankers have told him to expect a flood of new homes that have gone through foreclosure when banks and lenders start getting through their stockpiles of foreclosure-related work and are able to move homes more quickly through the process. So far, though, Durham said that hasn’t happened.