Tuesday, June 18, 2013

Housing News Digest, June 18

Home loan payoffs rise 31.4% in Colorado More Colorado homeowners managed to pay off their home loans in the past year with the state noticing a significant uptick in the number of deeds of trusts released. A release of a deed usually occurs when a home loan has been paid off, refinanced, sold or a borrower has made a final payment.

  Aspen building activity hitting levels not seen since recessionThe city issued more building permits in the first five months of the year than anytime since 2008, while the value of construction projects underway in town continues its upward trend. As summer construction season gets underway, the city has issued 585 permits for building, mechanical, electrical, plumbing and other construction-related work as of May 28, according to city building department records. That’s a 13 percent jump from the same time fame last year, and the highest year-to-date number since 2008, when the city had issued 665 permits through late May.

  Home loan payoffs in Colorado surge in the first quarter of 2013 However, trends in release activity were not uniform across the state. although all the 21 counties surveyed reported increases in release activity from the first quarter of 2012 to the first quarter of this year. The largest increases were reported in Adams and Arapahoe counties where release activity increased 62.1 percent and 55 percent respectively.

  California, Texas companies snapping up metro Denver apartments California-based real estate investment company Kennedy-Wilson Inc. has jumped into Denver’s surging apartment asset market by purchasing the $39.7 million Sommerset Gardens apartments in Aurora. It’s the first apartment building in the state for Kennedy-Wilson, which owns many properties in California, Washington and Utah.

  SmithJones Partners Completes Colorado TODDenver—SmithJones Partners LLC of Denver announced it has completed construction on a transit-oriented community in Broomfield, Colo. The community, called Arista Uptown Apartments, includes 272 units. KTGY Group Inc. is the design firm for the community. Arista Uptown Apartments, which is a three-story walk-up, includes 18 studios, 149 one-bedrooms units and 105 two-bedroom units. The apartments feature Quartz countertops, stainless steel appliances, island kitchen with breakfast bar, built-in wine rack, walk-in closets, in-unit full-size washers and dryers and tuck-under garages.