Friday, September 27, 2013

Housing News digest, September 27

Floods impact Colorado real-estate market Long story short, this natural disaster is not unlike others (wildfires, etc). Many believe the property values in the affected area will be negatively affected for at least a year. The lending on properties (even unaffected properties just in the county) has become more difficult. As with other tragedies, it will force homeowners to rebuild and remodel, which could, in the future, improve neighborhoods and home values in those areas.

  Fort Collins rent drops, Loveland, Greeley increase In Loveland and Greeley, though, average rents increased in the second quarter of 2013, according to the Colorado Division of Housing. Loveland's rent increased from $1,030 to $1,042 from first-quarter to second-quarter, and Greeley's average rent edged up from $704 to $715 per month in the same period. Average rent in Fort Collins dropped from $1,037 to $947 over the quarter.

  Home loan payoffs up 45% in second quarter Releases of deeds of trust increased by 45.9 percent from the second quarter of 2012 to the same period in 2013 in Colorado, according to new data from the Colorado Division of Housing. In Larimer County, the number of deeds released was 6,985, an increase of 35.8 percent over the same quarter of the previous year. In Weld County, 4,714 deeds were released, an increase of 60.1 percent from the second quarter of 2012.

  Freddie Mac Immediately Extends Mortgage Relief to Colorado Borrowers Affected by Floods MCLEAN, VA--(Marketwired - Sep 17, 2013) - Freddie Mac's (OTCQB: FMCC) full menu of mortgage relief policies for borrowers affected by disaster is being extended to homeowners whose homes were damaged or destroyed by the devastating floods in Colorado. Freddie Mac's disaster relief policies enable servicers to help borrowers with homes in presidentially declared Major Disaster Areas where federal Individual Assistance programs are being made available. Freddie Mac is one of the nation's largest investors in residential mortgages.

  Office buildings' sale shows 'how much the Colorado Springs market has improved,' seller says A Tulsa, Okla., real estate investment company has acquired the remaining five buildings in the Prime Center office complex in the Briargate Business Campus for $18.7 million. It's a deal that one of the sellers says reflects how much the local commercial real estate market has improved in recent years. GBR Properties Inc. bought buildings totaling 218,000 square feet at 2315-2355 Briargate Parkway on Wednesday from a joint venture of Boston-based The Davis Cos. and Colorado Springs-based Griffis/Blessing Inc.