Monday, June 27, 2011

Housing News Digest, June 27

Renters in Greeley face tightest market in a decade
But she and several other potential renters these days are caught in the middle of the tightest rental market the area has seen since 2002.

Real estate officials believe it’s a product of not only the high foreclosure rate in Greeley in the past few years that has kicked former owners back into the rental market, but the lack of people qualifying for home loans, and new employees to all of northern Colorado who are finding Greeley the least expensive place to rent.

Teens fighting adults for traditionally youth-held jobs
Getting a summer job used to be a given for teenagers. Now, it has become a competitive task requiring much more than a desire to work.
Ambition, attitude and being trained in a set of skills can help, but employment experts said there is no guarantee of landing a gig.
Patrick Holwell, workforce economist with county career service Arapahoe/Douglas Works, said the job outlook for youth employment locally and elsewhere is dire.

ULI chair named
Chris Achenbach, principal and director of construction at Zocalo Community Development, on July 1 becomes the chair of the executive committee for the Colorado District Council of the Urban Land Institute.

He succeeds Bill Mosher, senior managing director of Trammell Crow Co. Upon completing his two-year term on June 30, Mosher will remain involved with preparations for the international ULI Fall Meeting to be held in Denver in October 2012.

Niobrara boom heats up industrial real estate market
(Source: Greeley Tribune, Colorado)By Sharon Dunn, Greeley Tribune, Colo.
June 26--The impact of the Niobrara boom in northern Weld County is being felt throughout northern Colorado from the jobs it's creating to the tax treasuries it's fueling.

Its presence also is being felt increasingly in the northern Colorado real estate market, where many companies have been looking to relocate.

Landlords see income gains on rental properties
Americans who rented out properties gained $3.3 billion in total income from that endeavor during the month of May, up from $2.9 billion in April, according to the U.S. Bureau of Economic Analysis.

The BEA's latest report suggests predictions of a more rental-focused housing market are coming true.