Thursday, February 20, 2014

Housing News Digest, February 20

Colorado mortgage refi frenzy hit brakes in fourth quarter Colorado saw the number of home loans paid off during the fourth quarter plunge, but the state still managed to end 2013 with loan turnover up 13.2 percent. "There was so much refi and sales activity during the first half of the year though, that 2013 ended up being a bigger year than 2012 overall," said Ryan McMaken, an economist with the Colorado Division of Housing, in a statement.

  Paid off home loans declines over last quarter (CSBJ) In El Paso County, the change went from 11,619 releases in the fourth quarter of 2012 to 7,299 in the fourth quarter of 2013, a decrease of 37.2 percent, according to figures released by the state. Releases of deeds in the third quarter of 2013 was 10,659. Compared with the 7,299 of the fourth quarter, it is a decrease of 31.5 percent.

  Real estate developers partner with Colorado oil and gas producers Real estate developers are learning to swim with, rather than against, the growing tide of oil and gas activity in the Denver-Julesburg basin. "Until four or five years ago, we were acquiring mineral rights to play defense. We didn't want anyone to come and screw up our land," said Jay Hardy, general manager at Loveland-based McWhinney, which is developing 3,000 acres along U.S. 34 and Interstate 25. Hardy said the developer is now on the offensive, working closely with Anadarko Petroleum Corp. to extract petroleum as it builds out its massive Centerra project and the newer and smaller North Park development in Broomfield.

  University of Colorado to sell Denver medical campus to developer DENVER - The abandoned University of Colorado medical center at Ninth Avenue and Colorado Boulevard will be sold to developers in a $30-million deal approved by the CU board of regents Thursday. The university system says the nearly 26-acre property that used to be its health sciences center is to be purchased by a local developer called Continuum Partners.

Fewer homes seized in Mesa County Foreclosure activity in Mesa County dropped in 2013 to its lowest level in several years, but a weakening of the labor force and a slow-to-recover housing market means the county continues to lag behind most other areas of Colorado. New foreclosure auction sales — homes that have proceeded through the full foreclosure process to final sale at public auction — fell 33 percent from 2012 to 2013, according to a report released Thursday by the Colorado Division of Housing. The 564 sales last year were the fewest since 2009. New foreclosure filings — the beginning of the foreclosure process, in which the borrower has roughly four months to work with the lender to avoid a sale at auction — tumbled 37 percent in 2013, the fewest since 2008.