Tuesday, October 9, 2012

Housing News Digest, October 9

Time to review housing, energy policies? The county's economy is very different these days, of course, which is the basis of this week's question to the five people running for two spots on the Eagle County Board of Commissioners:

During the last decade's boom years, the county passed measures including affordable housing regulations and a package of building codes to encourage construction of more energy-efficient structures. Given the times, do those regulations need to be re-visited? If so, which ones? 

  Light rail not always a draw Since light rail expanded into the south suburbs of Denver more than a decade ago, construction around the rail stops has been hit-and-miss. For some — such as Littleton — the successes of so-called "transit-oriented developments" have started to kick in over the past year or two. For others — such as Aurora — which has only one light-rail stop that opened about six years ago, change hasn't really come at all.

  Colorado signs up for 'green' home appraisals The Appraisal Institute has signed a memorandum of understanding with Colorado to better promote the appraisal of home energy-saving features and help develop valuation studies with state officials. While the appraisal industry has been working to develop standards, valuation of energy efficient features on single-family homes varies wildly.

  U.S. Bank ranks third in Colorado deposits, passing JPMorgan Chase In the back-and-forth battle for depositors in Colorado, U.S. Bank overtook JPMorgan Chase for third-best on a list perennially topped by Wells Fargo Bank, according to a federal survey. Though Wells' market share slipped to just under 25 percent, it still held the lion's share of deposits in the state — $24.7 billion as of June 30 — more than double the amounts held by FirstBank branches, the Federal Deposit Insurance Corp. analysis released last week shows.

  Hitachi Data Systems To Open Englewood, Colorado Facility Creating Hundreds Of Jobs Hitachi Data Systems will open a new office in the Meridian Corporate Center in Douglas County, Englewood, Colorado, with plans to create hundreds of new jobs over the next five years. HDS provides mid-range and high-end enterprise storage systems, software and services, selling through direct and indirect channels in more than 170 countries and regions. It is a wholly owned subsidiary of Hitachi, Ltd. and has its corporate headquarters in Santa Clara, California.

  Is Housing Recovering as Much as Everyone Thinks? And that's the problem. In states where a judge is required in the foreclosure process, like New York, Florida and New Jersey, foreclosure timelines are still marked in years, not months. That will keep home prices from recovering as quickly there. Prices could in fact deteriorate. (Read More: Housing Alert: Short Sales may Be in Big Trouble.) "Market participants have become too accustomed to speaking about a national housing market and national home price appreciation. Going forward, we expect price behavior to vary by price range and location. To over-generalize — we anticipate that the judicial states, those in which a court order is necessary to proceeds with the foreclosure process, will take much longer to clear the distressed inventory than the non-judicial states, and higher-priced homes will take longer to clear than lower priced," noted Goodman.