Tuesday, June 12, 2012

Housing News Digest, June 12

Foreigners Snap Up Properties in the U.S. The six-year slide in U.S. home prices and the dollar's weakness against some currencies are driving a property-buying binge by Asians, Canadians, Europeans and Latin Americans eager to own a piece of America. Plowing money into real estate may sound like a risky venture to many Americans. But to growing numbers of foreigners, U.S. housing has never seemed a smarter investment.

 Counting on an Inheritance? Count Again. But for a growing number of boomers, things aren't going according to plan. The postwar generation is living longer—and many are spending their savings along the way. And, of course, many of them also took a hit in 2008. The result is that, as a group, boomers likely won't be getting as much of an inheritance as they hoped. Even worse, far from receiving a bequest, a growing number are tapping some of their own savings to help their cash-strapped parents make ends meet.

CNCC student housing on hold College students who hoped to move into new student housing in Craig this year shouldn’t start packing just yet. Plans to build a residence hall at Colorado Northwestern Community College’s Craig campus are on hold for another year or two, Campus Vice President Gene Bilodeau said.

THE BOOM IS BACK: Windsor leading northern Colorado in new home construction New home construction in Windsor is booming, and it looks as though there is no end in sight. Drive along the east end of Colo. 392 in Windsor and it’s easy to spot from the highway many new homes under construction off Weld County Road 19 at Peakview Estates. Eleven new homes are under construction on two streets in the same part of the subdivision.

 Denver Castle Sold The Montclair neighborhood won the prize for the highest priced sold single-family home last week. Plus, it is a castle. The Richthofen Castle, on the National Register of Historic Places and a Denver Landmark, sold last Monday for $3,490,000. It initially listed for $3,750,000, was on the market for 48 days, financing was secured and closed in 73 days.