Wednesday, October 19, 2011

Housing News digest, October 19

Town, county win prestigious housing award for Gold Run
Gold Run, the cluster of houses and duplexes on the banks of the San Miguel River east of town, has all the trappings of a lived-in neighborhood: bikes parked outside homes, dogs nosing around in yards and children playing on the sidewalks.

Seeing the affordable housing project inhabited with workers and families is reason enough to celebrate, say representatives of the Town of Telluride and San Miguel County, who worked collaboratively on the project.

Commercial real estate improves slightly in 3rd quarter

The Pikes Peak region’s commercial real estate market made slight gains in the third quarter, yet the overall market remains weak, according to a report released Tuesday by Turner Commercial Research of Colorado Springs.

Office and industrial building vacancy rates — two key sectors of the commercial market — dropped in the third quarter when compared with the second quarter of this year, Turner’s report shows. The combined vacancy rate for offices, industrial building and shopping centers also showed a slight decrease.

2 get prison for $30M Colorado real estate scheme

DENVER (AP) — Two people have been sentenced to federal prison for their roles in a Colorado real estate investment scheme that prosecutors say defrauded more than 400 people of at least $30 million.

Philip R. Lochmiller Jr. was sentenced to eight years in prison for money laundering and conspiracy to commit securities and mail fraud, the U.S. attorney's office said Tuesday.

Shawnee Carver was sentenced to serve two years for conspiracy to commit securities fraud and mail fraud.

Housing starts, consumer prices both jump in September

Most of the gain was driven by a surge in volatile apartment construction. That should help create jobs and boost economic growth, but it doesn't signal a comeback for the depressed housing market.

Single-family home construction, which represents nearly 70% of homes built, rose only slightly. And building permits, a gauge of future construction, fell to a five-month low.