Thursday, January 30, 2014

Housing News Digest, January 30

Colorado shifts mortgage-settlement funds to boost affordable housing A $23 million chunk of Colorado's share of the $25 billion federal mortgage banking settlement is being reallocated to help provide affordable housing — especially for residents of counties hammered by floods and wildfires. Colorado Attorney General John Suthers announced the shift Tuesday, saying rental vacancies have dwindled and too many displaced residents still are struggling to find new homes.

  Colorado housing market slows DENVER -- The Colorado Association of Realtors says housing markets across Colorado slowed in the fourth quarter. According to the Denver Post (http://tinyurl.com/mdgx2ym ), housing activity was weakest in the state's mountain-resort counties, which suffered a 15 percent drop in listings and a 14 percent drop in sales in the fourth quarter.

  Increased affordable housing funding under consideration in Colorado legislature DENVER - Colorado lawmakers are considering increasing funds for the development of more affordable housing in the aftermath of flooding and wildfires last year. A bill getting its first hearing Wednesday would pay for the construction of up to 800 affordable housing units. The proposal would also allow the state to use a portion of a grant fund for temporary housing and foreclosure prevention

  Marijuana Market Widens Colorado Housing Market DENVER (CBS4)- Real estate agents are hoping to capitalize on Colorado’s marijuana industry– selling homes to out-of-state buyers trying to move to the state for retail pot sales. Real estate agent Bob Costello sees a whole new market in marijuana.

  Colorado Springs home sales for 2013 hit highest level in seven years Colorado Springs-area home sales in 2013 jumped to their highest level in seven years, even as sales fell in December for the second straight month, according to a Pikes Peak Association of Realtors report this week. Local sales of single-family homes - excluding townhomes and condominiums - totaled 10,786 last year, a nearly 18 percent increase over 2012 and the most since 11,911 sales in 2006, the association's figures show.