Colorado mortgage-repay trend signals fewer refis and home buys
A release of a deed of trust also happens when a homeowner makes a final payment on a mortgage.
"Even though mortgage rates have headed down this year to very low levels, we haven't seen the kinds of increases in refinance and purchase activity that one might expect," Billie Jo Downing, with Re/Max Action Brokers in Loveland, said in the state report. "Tighter lending standards are certainly affecting the overall volume."
Mortgage activity in Colorado slowing down
The number of Colorado homeowners paying off their loans and, as a result, the number of deeds of trust transferred by trustees fell in the third quarter. The data suggests mortgage activity is declining in the state, according to numbers released by the Colorado Division of Housing.
The number of deeds of trust released by public trustees fell from 58,177 in the third quarter of 2010 to 50,506 this year, according to the division's report. The third quarter's number of released deeds in Colorado is at its lowest level in three years.
Realtors: We Overcounted Home Sales for Five Years
Data on sales of previously owned U.S. homes from 2007 through October this year will be revised down next week because of double counting, indicating a much weaker housing market than previously thought.
The National Association of Realtors said a benchmarking exercise had revealed that some properties were listed more than once, and in some instances, new home sales were also captured.
New federal homelessness stats contradict experience on Denver's streets
A new federal count of the homeless released Tuesday shows numbers declined in the U.S. and in Colorado between January 2010 and January 2011 — a finding that sharply conflicts with local groups' reports of a worsening crisis.
U.S. Housing and Urban Development Secretary Shaun Donovan reported that 636,017 people were homeless in the U.S. on a night in January 2011, a 2.1 percent decline from January 2010.
Little improvement expected in Springs commercial real estate market
Commercial real estate in the Pikes Peak region has taken a few small steps forward on its way toward a recovery, yet don’t expect significant gains next year, according to a forecast released Tuesday by Sierra Commercial Real Estate, a Colorado Springs brokerage.
Businesses are leasing new office and retail space, investors are purchasing commercial properties and some retailers and industrial users have announced expansion plans, Sierra officials said.