Wednesday, November 21, 2012

Housing News Digest, November 21

House Prices Are Nowhere Near A Bottom Says Analyst In recent months, most economists have come to believe that U.S. house prices have finally bottomed after a horrible five years of declines. Most of the major house-price indices, including the monthly Case-Shiller report, have turned higher. And yesterday's Existing Home Sales report showed an increase in the median house price of a startling and encouraging 11% year over year.

  Premier Resort in Snowmass, Colorado Re-Opens as a Westin Following Multi-Million Dollar RenovationStarwood Hotels & Resorts Worldwide, Inc. (NYS: HOT) today announced the opening of The Westin Snowmass Resort following an extensive, multi-million dollar renovation to reposition the prestigious, slope-side property as a Westin. Formerly known as the Silvertree Hotel & Conference Center, the resort fully refurbished all guest rooms and public areas in order to implement the full suite of Westin signature amenities, designed to rejuvenate and inspire wellbeing. Owned by a joint venture between Starwood Capital Group and Wasserman Real Estate, The Westin Snowmass Resort is ideally situated in the heart of Snowmass Village, adjacent to the slopes of Snowmass - one of Colorado's most sought-after ski mountains.

  Morgan County Realtors closely watching federal, state legislation The National Association of Realtors is keeping an eye on federal legislation, particularly on mortgage interest deductions. Some good news is that the Colorado real estate market is improving better than the rest of the nation. At a recent Colorado Association of Realtors conference, Fort Morgan Realtor Brian Urdiales heard that in the recent past home buyers have not had to pay certain taxes, but that might change. Further, people might have to pay taxes on a short sale.

  Real Capital Solutions acquires Tanager Meadows apartments in Springs Real Capital Solutions, a Colorado-based investment and property management company, has acquired the Tanager Meadows apartment complex in Colorado Springs from national real estate investment adviser Lowe Enterprises Investors.

  IBC Holdings purchases large building that houses Avaya “Additionally, we are considering adding a multifamily component and additional industrial buildings with frontage on Huron and Pecos streets at some point in the future.” Basking Ridge, N.J.-based Avaya employs several hundred people in the metro area at facilities in Westminster and Highlands Ranch.