Monday, October 31, 2011

Housing News Digest, October 31

CNL making plans for three Colorado mountain properties
Florida real estate investment trust CNL has three mountain properties in Colorado, with plans evolving at each.

CNL's plans for 1,553 acres along the Colorado River​ near Granby are uncertain beyond one thing: it's not going to look like what was once proposed.

The real estate investment trust foreclosed on the land's previous developer, Shorefox LLC in 2006 after the developer was unable to make payments on a $40 million loan, ending lofty plans for a gated golfing and fishing community along four miles of rehabilitated Colorado River headwaters.

Home prices heading for triple-dip
NEW YORK (CNNMoney) -- The besieged housing market has even further to fall before home prices really hit rock bottom.

CMBS special servicers challenged by rising troubled loans

With some 13% of commercial mortgage-backed securities in special servicing, the largest players in the market say they are bracing for bigger loans and more volume in their pipelines.

In addition, at least one panelist predicted more delinquent CMBS would move to REO status.

According to Fiserv (FISV), a financial analytics company, home values are expected to fall another 3.6% by next June, pushing them to a new low of 35% below the peak reached in early 2006 and marking a triple dip in prices.

How far home buyers' $300,000 goes

Each week, TODAY real estate expert Barbara Corcoran looks around the U.S. to see what homebuyers can get for their money.

This week’s search is for truly unique properties you can get the keys to for $300,000 or less.