Thursday, June 23, 2011

Housing New Digest, June 23

Laws Protecting Broker Commissions Gain Traction In States
The Tarheel state follows Colorado and Michigan which adopted similar laws in August and October of 2010, respectively. Legislation has been introduced in a number of other states over the last year, including Oregon, North Dakota and Delaware.

Real-Estate Attorney Steven G. Wright Joining Polsinelli
Real–estate attorney Steven G. Wright, one of the longest-serving attorneys at Isaacson Rosenbaum, later this month will join the Denver office of Polsinelli Shughart.
Wright praised Ryley Carlock & Applewhite, the firm that’s taking 12 of his current colleagues. But he described his move to Polsinelli as a “unique opportunity.”

Residential vacation rentals targeted for taxes
Aspen homeowners who offer their properties as vacation rentals and aren’t on the city’s radar likely will be soon — in the form of paying sales and lodging taxes, as well as obtaining an annual business license and a related permit.

Aspen City Council on Tuesday OK’d moving forward with tracking down hundreds of vacation rentals that are off the government’s tax rolls and making them comply with the rules, which are currently being revised.

Bankrate: Long-term mortgage interest rates at 'ultra-low levels'
Mortgage rates remained mostly unchanged this past week, with the 30-year, fixed-rate mortgage remaining 4.5% for a second week.

Even still, disappointing economic news kept rates well below 5% and significantly lower than the 6% mark that defined more stable economic times. The U.S. has not seen mortgage rates higher than 6% since late 2008.

Hickenlooper appoints new OEDIT director
DENVER - Gov. John Hickenlooper has appointed Ken Lund, chief legal counsel in the Governor's office, as the new executive director of the Colorado Office of Economic Development and International Trade.

Lund, previously with Holme Roberts & Owens in Denver, will take the position officially on Aug. 1, replacing Dwayne Romero, who is returning to the private sector as president of Related Colorado, a real estate firm.