Monday, September 24, 2012

Housing News Digest, September 24

TRI Pointe Homes Appoints Matt Osborn to Head Its New Colorado Division DENVER, CO -- TRI Pointe Homes continues its expansion throughout the western states, appointing industry veteran Matt Osborn to spearhead its entry into the Colorado housing market as president of its newly established Colorado division. "With his extensive local background, Matt is the ideal candidate to enable us to take advantage of the extremely favorable conditions in the Colorado market," stated Doug Bauer, CEO of TRI Pointe Homes. "We are always evaluating expansion opportunities, and Colorado presents one of the most promising. Job growth continues to be very positive, the state has a well-educated workforce, the home price index for Denver continues to rise, and it is just a great place to live."

Upping occupancy at Village Court Apartments With the recent renovation of the Village Court Apartments in Mountain Village, the town utilized a grant from the Colorado Division of Housing and is ready to honor some of its requirements. The renovation was completed last winter at cost of $1.38 million, and part of the money came from a $135,000 housing development grant from the state division of housing. The grant came with some stipulations to ensure the apartments meet rental and occupancy limitations, which come in the form of a beneficiary and rent use covenant.

 Rise in Colorado resort real estate sales in 2012 fueling hope of rebound The real estate market in Colorado's High Country is finally stabilizing as it emerges from the darkness of the past three years — although sales at the highest end remain soft. Sales in six of Colorado's seven resort-anchored regions are up year-to-date over last year, rising a combined 2.8 percent through July. But sales remain a fraction of the peak boom times seen in 2007, when Routt, Eagle and Pitkin counties each surged past $1 billion in sales by the end of July.

Good August sales boost Aspen real estate ASPEN — Strong sales in August salvaged the summer for the real estate industry in the upper Roaring Fork Valley, but numbers for the year to date still aren't keeping pace with last year's. The total dollar volume of all real estate transactions in Pitkin County in August was $105.21 million, according to deeds filed with the Clerk and Recorder's Office. That was a 16 percent increase from the $90.40 million in August 2011

 Affordable housing for women veterans unveiled It will be called the “Odyssey,” in reference to the classic Greek journey of soldiers returning from the Trojan War. This modern-version of the Odyssey will be a new 36-unit apartment unit project to serve women military veterans and other at-risk females participating in service programs. The Empowerment Program, a non-profit group, recently received a $5.6 million tax credit award to fund the development of the Odyssey, which will be built on the site of the historic Elyria Elementary School at East 47th Avenue and High Street near the National Western Stock Show facility. The school also will be renovated as part of the project. The Odyssey and the renovation will cost a total of $6.8 million.