Tuesday, January 8, 2013

Housing News Digest, January 8

Housing, software fuel western jobs rebound
A jobs rebound in the West doesn’t seem to be touching Colorado Springs, where local payrolls have been contracting and the unemployment rate in October — the most recent data available — was 9.2 percent. By contrast, the unemployment rate statewide in November was 7.7 percent, matching the national rate.

  Slowdown expected in Denver housing market Metro Denver’s housing market should slow down in 2013 after a year of double-digit price gains, according to a home price index report released by Clear Capital Tuesday. The Truckee, Calif.-based real estate data company predicted the Denver/Aurora metropolitan statistical area (MSA) should see prices remain essentially flat with a 0.2 percent price drop.

  Denver-area apartment market sets records in 2012 The Denver-area apartment sales market was one of the nation’s hottest in 2012, with a record $2.4 billion worth of apartment buildings sold. Low interest rates on construction, purchase and development loans, as well as higher demand from renters, helped fuel the push.

  'Lawmaker has plans to tighten grip on HOAs' Carroll, an Aurora Democrat, said bills will be introduced in the Democrat-controlled House designed to give homeowners a powerful new ally in their battles with dictatorial HOAs by creating what I’m calling a state HOA czar. Carroll said she wants to energize the HOA Information Office and Resource Center beyond its current role collecting data and informing people of their rights. She hopes to transform the office and its leader, HOA Information Officer Gary Kujawski, into a robust investigative and enforcement agency.

  Downtown looks for apartments, new Partnership CEO in 2013 Bob and Karen Elliott, who built the Two Eight West luxury condominium project on the edge of Monument Valley Park, purchased land near the intersection of Nevada Avenue and Costilla Street at a foreclosure auction in October. Bob Elliott said he plans to build a mixed-use retail and apartment project there. Nor’wood Development Group and Griffis/Blessing both own multiple parcels of land downtown and have said recently that they were hoping to be able to announce apartment projects. But neither has made any announcements yet.