Tuesday, June 19, 2012

Housing News Digest, June 19

Colorado Supreme Court rejects bid-rigging argument
The Colorado Supreme Court  has ruled the winners of a foreclosure auction on an Aspen condominium didn't conspire to rig their bids, The Aspen Times reports.
Three individual bidders were all after the same condo when they stopped bidding an agreed to form a limited liability company to stave off competition. The LLC wound up with the winning bid of $1.86 million.

Americans Sees Biggest Home Equity Jump in 60 Years: Mortgages Home equity in the first quarter rose to $6.7 trillion, the highest level since 2008, as homeowners taking advantage of record-low borrowing costs to refinance their loans brought cash to the table to pay down principal. The 7.3 percent gain was the biggest jump in more than 60 years, according to an analysis by Bloomberg of Federal Reserve data. Denver Health wins $19.8 million to manage high-risk cases

 Denver Health wins $19.8 million to manage high-risk cases Denver Health believes it can extend the complex services to 15,000 new patients, saving $40 million over three years by reducing ER visits and expensive procedures through better primary medicine and mental health coordination. A rule of thumb in high-risk cases — such as obesity and diabetes accompanied by mental illness and addiction — is that the most expensive 1 percent of patients can use 30 percent of spending. Making inroads with a few hundred or few thousand patients can save millions.

 Affordable housing available in Stapleton KUSA - There is a big shortage of affordable housing in Colorado. Some of the latest statistics show that there are twice as many low-income families as there are rental units that they can afford to live in. According to a recent report from the state's Division of Housing, Colorado offers 50 affordable apartments and other rental units for every 100 households with combined income under $20,000 a year.

MKS Residential breaks ground on multi-family scheme in Colorado US-based MKS Residential LLC has broken ground on 3100 Pearl Development, a new multi-family residential scheme in Boulder, Colorado. Sprawling over a 5.3 acre site, 3100 Pearl Development will be a Class A, multifamily housing project that will consist of two buildings of three and four storeys, which will together offer 319 residential units.