Wednesday, October 26, 2011

Housing News Digest, October 26

Homeownership too risky for many living on the edge in Durango
But local affordable-housing advocates increasingly are seeing clients who are homeless despite working several jobs or were once middle class until a job loss or medical problem threw them behind.

“If you lose your home in Durango, you are not in paradise,” said Sarada Leavenworth, division director for Volunteers of America, which operates the Durango Community Shelter.

The continuing recession combined with Durango’s low wages and limited job opportunities has prompted the city’s affordable-housing organizations to re-evaluate how they prioritize and regard homeownership. Currently, the Regional Housing Alliance of La Plata County advises prospective clients earning less than $30,000 annually that they would be better off renting.

Rocky Mountain Communities' First Annual Awards Breakfast

The 1st Annual Awards Breakfast, our first, honors an individual who deserves recognition for their service to the housing community while raising funds to support the work of Rocky Mountain Communities (RMC). Rocky Mountain Communities is pleased to recognize Dr. Gordon Von Stroh as the recipient of the Service to Community Award. Dr. Von Stroh has generously given his skill, wisdom and passion to Rocky Mountain Communities, Daniels College of Business, University of Denver, Apartment Association of Metro Denver, Department of Local Affairs, Central City Opera, and Cherokee Ranch and Castle Foundation, and many other organizations, associations, and individuals have been positively impacted by his work and commitment to Colorado.

Texas counties consider suing MERS over mortgage assignments, filing fees
Two Texas counties are contemplating a lawsuit against Mortgage Electronic Registration Systems for an alleged failure to pay mortgage assignment recording fees to local clerks' offices.

If Bexar County, which includes San Antonio, and Hidalgo County, which borders Mexico in South Texas, decide to sue, three Texas counties will have brought lawsuits against Reston, Va.-based MERS.

New Home Sales increase in September to 313,000
The Census Bureau reports New Home Sales in September were at a seasonally adjusted annual rate (SAAR) of 313 thousand. This was up from a revised 296 thousand in August (revised up from 295 thousand).

The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate.

Sales of new single-family houses in September 2011 were at a seasonally adjusted annual rate of 313,000 ... This is 5.7 percent (±18.4%)* above the revised August rate of 296,000, but is 0.9 percent (±16.3%)* below the September 2010 estimate of 316,000.