Friday, February 17, 2012

Housing News Digest, February 17

Co. Foreclosures Slide to Five-year Low (KUNC)
“I’m now hearing that a lot of these servicers had been holding back a little bit in terms of foreclosure processing as they waited for the outcome of the Attorney General’s agreement, the settlement that came down last week. And so now some people are expecting those numbers to come up a little bit.”

Colo. foreclosure filings, sales drop in January (Summit Daily News and Aspen Times)
All counties except for Broomfield County had fewer foreclosure sales last month compared with January 2011. Mesa County had the highest rate of foreclosure sales, with one sale for every 752 households. Boulder County had the lowest with one sale for every 3,621 households.

Foreclosure filings declined for 14 straight months, according to the report. Nationally, however, the number of homes repossessed by banks rose 8 percent between December and January, although the figure was still down compared to January 2011.

Amended RTA bill passes Colorado Senate committee
The applicants for the incentives include Aurora, for a proposed 1,500-room Gaylord hotel and conference center; Douglas County, for a prehistoric-archaeology museum and sports complex; Glendale, for an outdoor riverwalk entertainment complex; Pueblo, for a downtown riverwalk area that would include a bull-riding training center and an expanded convention center; Estes Park, to redevelop and renovate Elkhorn Lodge and build a 50-acre, year-round adventure park; and Montrose County, which is proposing 141 tourism and commercial projects.

Spain Ghost Towns Develop From Real Estate Crash
SESENA, Spain (AP) — Towering apartment blocks, complete with swimming pools and playgrounds, loom over empty streets, weed-filled lots and gaping excavation pits. The lone bank in this mega-development nicknamed "Manhattan" closed two years ago and most storefronts are bricked up.

Apartments galore are for sale here and prices are plunging.

Housing faces problems, despite gains
First, economists expected a bigger advance. After all, the mild weather should have allowed builders to break ground on many more projects than in a typical January. Economists at IHS Global Insight warn the building activity pulled forward into the tepid winter months could mean a payback in starts come the spring. Read more about housing starts.