Monday, November 28, 2011

Housing News Digest, November 28

Empty Stocking Fund to help neighbors

According to the Colorado Division of Housing, the average rent cost in Greeley rose 5.1 percent from August 2010 to August 2011 and in Loveland by 11.7 percent.

Vacancy rates remain tight, at less than 6.7 percent, throughout Northern Colorado.

The average rent in Fort Collins/Loveland is $882 a month, according to state statistics released in August.

“Even the smallest of emergencies or unexpected expense can put a person with disabilities and their families at risk of homelessness,” said Beth Danielson, executive director of Connections for Independent Living in Greeley. “The funds Connections receives from NCESF help to stabilize families so that they can continue to work toward their goals of independence and self-sufficiency.”

Denver engages in a street struggle as number of homeless sleeping downtown continues to rise

Some lawmakers and business owners are pushing for tougher laws; others are seeking increased shelter space and more funding for services. The concern is that the current solution won't stop the number of homeless from growing and that next summer on the mall will be worse than this year.

Some worry that what is meant to be a safety net for Denver's most at-risk residents has also become a magnet for a steady stream of outsiders looking for help or a handout.

Mortgage bankers: Colorado rates well on delinquent loans

Colorado had the eighth-lowest percentage of mortgage loans in foreclosure or 90 days delinquent in the third quarter, according to a survey by the Mortgage Bankers Association .

A total of 4.22 percent of mortgage loans in Colorado were either in foreclosure or 90 days delinquent in the third quarter, the Colorado Division of Housing reported Wednesday, citing the survey.

Union Station deal update
The Evaluation Panel for the Denver Union Station Historic Building competitive process on Tuesday night made a presentation to the Regional Transportation District Board of Directors that recommends the proposal offered by Union Station Alliance.

USA’s proposal features utilizing a portion of the inside of Denver Union Station as a hotel, supplemented with restaurants and retail establishments. The USA group’s plan is headed by Walter Isenberg, the chairman, president and co-founder of Denver-based Sage Hospitality and long-time historic preservationist Dana Crawford.

Money & the Law: Real estate brokerage rules are a little tricky

Although for most people the legal profession doesn’t leap to mind as a place to find inspiration in ethical matters, lawyers function under strict ethical rules, in particular when it comes to conflicts of interest. Lawyers don’t represent plaintiffs and defendants in the same lawsuit; husbands and wives in the same divorce; or buyers and sellers in the same transaction.

Other professions seem more casual about conflicts of interest. Historically, the profession that has struggled most with conflicts of interest has been real estate brokerage. In part, that’s because, a few years ago, a broker representing a buyer was considered to be a “subagent” of the broker representing the seller — the buyer’s agent was, legally, working for the seller.