Tuesday, August 20, 2013

Housing News Digest, August 20

Colorado Crossing sits as litigation abounds Half-finished buildings sit with gaping holes, windows without glass, parking lots without cars. Classy signs announce the now-derailed development: Colorado Crossing, on the weeded byway leading to its skeletal remains off Voyager and Interquest parkways. A nearly completed multiplex movie theater, flanked by a half-done office building and a parking garage, all sit vacant and unused, casualties of an economic downturn unparalleled since the Great Depression.

  For default servicing, all eyes rest on Colorado It’s been poorly reported by much of the trade press (perhaps because at least one trade media outlet owns their own attorney guild), but you may have noticed recently at HousingWire that we’ve been highlighting coverage of an ongoing legal fracas involving the Colorado state Attorney General and nearly all of the major creditor’s rights firms in that state. The case centers on expenses charged in connection with foreclosure actions.

  Moody's corrects the rating history of Colorado Housing & Finance Authority New York, August 01, 2013 -- Moody's has corrected the rating history of Colorado Housing & Finance Authority Single Family Mortgage Bonds, Class I Adjustable Rate Bonds, 2006 Series B-1 (Taxable) (the "Bonds") to include CUSIP 196483DS7. Due to an internal administrative error, this CUSIP was not appended to the deal after the interest rate mode change.

  Colorado Springs apartment rents hit record high in second quarter Colorado Springs-area apartment rents jumped to a record high in the second quarter, as a somewhat better jobs picture, more people moving to town and limited numbers of newly constructed units coming on line combined to drive up demand and send rents soaring. The average rent for local apartments rose to $807.21 a month during the period from April through June, according to a report released Monday by the Colorado Division of Housing and the Apartment Association of Southern Colorado.

  Home Depot reaps benefits from U.S. housing rebound A recovery in the U.S. housing market helped Home Depot Inc. beat analysts’ quarterly profit and sales estimates, prompting the world’s largest home improvement chain to raise its outlook for the fiscal year. The results, which came just weeks after data showed that U.S. home prices rose in May, gave more evidence that the housing market was healing after years of weakness.