Tuesday, February 7, 2012

Housing News Digest, February 7

Aspen real estate outgained other state resort-area markets in 2011
ASPEN — A flat year for the Pitkin County real estate market in 2011 is looking good compared with the performance in Eagle County and other resort areas in Colorado.

A report by Land Title Guarantee Co. shows Aspen and Pitkin County had one of the strongest real estate markets last year even though the total dollar volume crept up only 0.5 percent above the 2010 level. In contrast, the total dollar volume in Vail and Eagle County fell by 23 percent in 2011 compared with the prior year, according to the report.

Foreclosures hit Colorado's Western Slope

The Front Range, which seven years ago was the first area in the state to have a spike in foreclosures, has had a steady decline in filings and foreclosure sales since hitting a peak in 2009.

But some counties on the Western Slope, which rode the wave of high rural resort area prices and an oil and gas boom until about 2009, are experiencing an uptick in foreclosures, according to the Colorado Division of Housing.

California, N.Y. Are Among Fewer Than 10 Mortgage Deal Holdouts
California and New York’s attorneys general haven’t signed on to a proposed settlement with five banks over foreclosure practices that has won the support of more than 40 states.

California’s Kamala Harris and New York’s Eric Schneiderman, who have been some of the most outspoken in pushing for changes to the deal, are among those who hadn’t joined the agreement as of yesterday’s deadline for states to decide. More than 40 states signed on to the accord, according to Iowa Attorney General Tom Miller, who is helping to lead talks with the banks.

Former developer of USOC building arrested for theft and racketeering

High-profile Colorado Springs developer Ray Marshall was arrested Friday on two charges of theft and another racketeering charge for allegedly stealing more than $1 million in grant funds intended to pay for a new headquarters for the U.S. Olympic Committee and two related projects.

So Eager to Get Foot in Real Estate’s Door, They Work Without Pay
In past years, becoming a real estate agent was rarely a first-choice gig. For many people, it was a way to pay the bills while trying to break into another field. For some, it was a second career — or maybe a third or a fourth — tackled after the children went off to college, or earlier paths fell off a cliff.

La Plata seeks to build 128 apartments near Cordera
La Plata Communities is proposing an eight building, 128-unit apartment development on 12 acres adjacent to its upscale Cordera neighborhood, where home prices range from $300,000 to $800,000.

La Plata sent an e-mail to Cordera residents inviting them to attend an information meeting tonight from 6 to 8 p.m. at the Cordera Community Center, 11894 Grand Lawn to discuss the project.

The Briargate master plan, which includes Cordera, calls for multi-family development where the apartments are proposed across Grand Cordera Parkway from the single-family development.