Monday, May 7, 2012

Housing News Digest, May 7

Todays Homes lays off all employees, fate of oversize townhomes unknown The local homebuilding company Todays Homes laid off all of its local employees Friday, leaving the fate of three oversized townhomes the company had pledged to move up in the air, along with dozens of other properties.

Scott Vaughan, who had been the sales manager for Todays Homes, said he didn't know what would happen to the company's properties and that it would be up to Todays Homes' parent company, Unity Builders Group of Calgary, Canada, to work with the city and homeowners on unfinished projects.

Eviction Follows Attempt To Occupy Home By Non-Owner 
DENVER (CBS4) – A family that had been living inside a million dollar home with lavish furnishings has been evicted by the Douglas County Sheriff’s department following a court order.
Their action appears to be a part of a scheme involving the occupation of many homes under foreclosure in Colorado, uncovered by CBS4 Investigator Rick Sallinger.

Lower vacancy, higher rents good for apartment owners
The lower apartment vacancy rates and higher rents reported in last week’s survey from the Colorado Division of Housing are good for apartment property owners, industry insiders say. The report found an average city-wide vacancy rate of 6.4 percent. While that was a higher than the first quarter of 2011 when vacancies reached a 10-year low ...

Sharp rise in metro Denver rents in Q1 Rents at metro Denver apartments jumped 4.5 percent in the first quarter from a year earlier, the biggest year-over-year increase in a decade, according to a report Tuesday from the Apartment Association of Metro Denver . Average rent for seven counties portion of metro Denver area stood at $952 in the first quarter, up from $911 in the first quarter of 2011, the report stated.

Rent rising in metro Denver as vacancies fall Rent rising in metro Denver as vacancies fall DENVER — Thousands of apartment renters across the Denver area are getting the news that their next rent check will cost a little more. According to the Apartment Association of Metro Denver and the Colorado Division of Housing, the average rent in the metro area rose to $952 in first quarter of this year from last year’s first quarter average of $911. It’s really just a matter of supply and demand. There are far fewer vacancies available and far more people looking to rent. And that means landlords can charge a lot more for their properties.