Wednesday, July 6, 2011

Housing News Digest, July 6

High-end Aspen homes are selling
Sales of high-end homes in Aspen are booming, with 14 homes priced at more than $10 million changing hands so far this year, The Aspen Times reports. Three more homes at that price level are under contract.

Job cuts in Colorado doubled in June
Colorado employers announced plans to eliminate 311 jobs in June, double the job cuts for May

Probuild closing regional offices
ProBuild, the Denver-based building materials supplier, intends to close its six regional headquarters, Twin Cities Business reports.

EAGLE COUNTY, Colorado — The local real estate market remains a jumble. Transactions are up, dollar volume is down and the hottest part of the market home sales of $500,000 or less.

Vail Valley real estate sales top 2008 level in May
The latest monthly report from Land Title Guarantee Company is a statistical jumble, with a relative handful of sales making up most of the dollar volume for the month. For instance, sales of $1 million or less accounted for 81 percent of the 97 completed sales, but just 33 percent of the dollar volume.

Gov't Takes A Baby Step Back From Housing Market
Starting this fall, the massive government effort to prop up the housing market will become slightly less massive.

The cap on mortgages backed by Fannie and Freddie — loans where taxpayers are on the hook if borrowers don't pay — will fall in some parts of the country.