Wednesday, June 20, 2012

Housing News digest, June 20

Colorado Supreme Court lets foreclosure initiative advance The Colorado Supreme Court has ruled that the proponents of Initiative 84, a proposed state constitutional amendment regarding foreclosure documentation, can move ahead with the amendment. In a June 14 ruling, the Supreme Court affirmed the state title board’s decision that the initiative could move forward, despite challenges from two of the state’s largest banking groups.

Colorado could be facing a new wave of foreclosures Despite reports of a thawing housing market, yet another wave of foreclosures appears to be looming, real estate records filed in multiple metro-Denver counties indicate. The recording of deed-of-trust assignments in Colorado — the ownership rights of mortgages and the ability to foreclose on them — has more than doubled in the first five months of the year compared with the same period last year, The Denver Post has found.

 Boulder's boom: More than 30 building projects on tap for next 2 years Big changes are brewing in Boulder. The city is on the brink of a building boom that -- in relatively short time -- could alter the look and feel of large parts of the city. The developments that are expected to come online within the next two years are on track to add 1,500 apartments, a few hundred new hotel rooms and a large volume of new office and retail space.

 Bluff Lake Apartments dedication: Michael Hancock hails affordable housing project In April, the Colorado Division of Housing reported the state features twice as many low-income families as there is affordable rental housing for those families. This morning, at the dedication ceremony for Bluff Lake Apartments, the area's newest affordable housing community, Mayor Michael Hancock confirmed plans to change that: "My administration is more committed than ever to the expansion of affordable transitional housing," he told a crowd.

 WSJ article ranks Denver No. 2 The Denver housing market received some good news today in a front page Wall Street Journal article. An analysis of real estate data based on ZIP Codes, showed that Denver home values increases in April from the three previous months, were second only to those in Phoenix. In Denver, 90 percent of the home values rose during the three-month period ending in April, up from 6 percent a year earlier, the newspaper reported. In Zillow, almost 94 percent of the homes rose in value during that time period.