Tuesday, August 23, 2011

Housing News Digest, August 23

Loveland might look closer to home for ACE developer
LOVELAND - Now that United Properties has backed out of Loveland's Aerospace and Clean Energy park, the city and the Colorado Association for Manufac- turing and Technology are scrambling to find a new developer.

United Properties on Monday, the final day of a 60-day exclusive negotiation period, cited the current credit and financing environment in announcing it would not continue with the project.

Apartment residents remain homeless while officials try to contact absentee owner

An 86-year-old apartment house condemned for faulty electrical wiring remained shuttered for a second day Monday and residents of its 21 apartments may remain homeless indefinitely as officials try to contact the building owner.

Signs on the Beverly Apartments at 23 N. Wahsatch Ave. declared it to be “unsafe or dangerous” and illegal to “work in, occupy or use” by order of the Colorado Springs Fire Department.

At Denver apartment complex, a transition for the criminally insane
When Floyde Pineda needs money, he recycles cans from the neighborhood around his apartment in southwest Denver.

When he needs to attend counseling to avoid hearing the voices he says made him stab a man to death, he can walk to the nearby Mental Health Institute at Fort Logan.

And when he needs help with a clogged toilet or stuck door in his apartment, he calls the resident manager — another killer.

Housing bust derails path to assisted living for some

In the fourth year of a depressed real estate market, experts say thousands of people remain unable to move into senior housing because they can't sell their homes quickly or for the prices they need. The upshot: greater pressure on families to pay for parents' and grandparents' placements, or to take over the care themselves.

Home-Loan Delinquencies Rise Again

The number of American households that are delinquent on mortgage payments is rising again after falling for more than one year, an unwelcome trend for the U.S. economy.

Deborah Goldring of Baltimore, shown earlier this summer, faces the prospect of foreclosure. Ms. Goldring, who lost her job as an executive assistant, is among millions of Americans who are behind on mortgage payments.

The Mortgage Bankers Association said 12.87% of mortgage loans on one-to-four-unit homes were 30 days or longer past due or in the foreclosure process at the end of the second quarter, representing more than 6.3 million households. The second-quarter figure was down from 14.4% one year earlier but up from 12.84% at the end of March.