Wednesday, June 19, 2013

News Digest, June 19

Fire will send ripples through local housing market COLORADO SPRINGS - The sudden displacement of nearly 500 families in Black Forest will send ripples through the local housing market. In the short term, the charred landscape could push down home prices in the forest. "If somebody is looking across nothing but a black forest, certainly that will affect values and the ambiance and be a complete reminder every time somebody looks out the window," said Alan Wilaby, a broker for ERA Shields who lives and sells homes in Black Forest.

  Foreclosure filings down by half in Colorado urban counties (DBJ) New foreclosure filings in Colorado's urban counties dropped in May to less than half their level of May 2012, the Colorado Division of Housing reported today. And foreclosure auction sales dropped by 25.4 percent last month from a year earlier in urban counties, officials said.

  Colorado foreclosure filings dive 50 percent in May (Denver Post)In addition, foreclosure auction sales in Colorado's metropolitan counties were down 25.4 percent in May compared to May of last year, falling from 965 to 720. Foreclosure auction sales from January through May were down 29.4 percent.

  Rental properties scarce for those displaced by Black Forest fire People displaced by the Black Forest fire may run into trouble finding rental homes. Economist Ryan McMaken with the Colorado Division of Housing says apartment and single-family home rentals are hard to come by as it is. In the last ten years there's been little new construction in the city and county, and that combined with a growing number of people looking for temporary housing already caused rental availability to go down and prices to go up.

  Colorado home loan payoffs up 31% in Q1 from year earlier The number of home loans paid off in Colorado in the first quarter was up 31.4 percent from the first quarter of 2012, according to a report today by the Colorado Division of Housing. Public trustees in Colorado released 98,321 deeds of trust during the first quarter — the highest quarterly total since the division began collecting quarterly totals in 2008, the report said.