Monday, June 4, 2012

Housing News Digest, June 4

Affordable Windsor housing being built Back in April, the Windsor Town Board gave the official go-ahead for the eight-year effort to offer additional affordable housing in Windsor, and the application has just been approved. More than $7 million in tax credits, reserved over the next 10 years, has been approved from the Colorado Housing Finance Authority Tax Credit Allocation Committee. This is the green light that the Windshire Apartments needed in what town board members see as a vital project for the community. John C. Moore, chairman of the Windsor Housing Authority, agrees that this project is a must in the area.

 Housing Mismatch: Boomers Sell, Millennials Rent Christopher Habig, 25, and Anne Weingarten, 58, don’t know each other, but they represent two sides of a perplexing new problem that could roil the housing market in years to come. Back in the fall of 2009, Habig, a marketing consultant in Indianapolis, was on the verge of buying a home with savings and mortgage financing after graduating from Butler University. But the deal fell through at the last minute, and Habig says now, “Honestly, I have zero regrets about it.” Though he once viewed home ownership as part of the American dream, the 20-something has had a change of heart. “I view houses and being a homeowner as more of a liability than rental expenses at this point, because I understand now that buying means sinking a lot of money into upkeep and mortgage payments without a guarantee the investment will pay off.”

 Eagle River Station now on the hunt for tenants EAGLE, Colorado — One week after voters approved the Eagle River Station proposal, Jeff McMahon, of Trinity/RED Development, said the company's priorities are to finalize plans for a new east Eagle interchange and find tenants interested in setting up shop. “The process of development is a sometimes long and arduous one,” McMahon said. “Last week's vote gives us the chance to try to make this project happen. Now we are going to go out and do what we do best.”

  About Town: Windsor seeing activity in economic development Economic activity remains high in the town of Windsor. The town has received 92 attraction prospect requests in the last year. These are companies that are potentially interested in coming to Windsor. There were 25 leads that were classified as non-qualified, meaning we didn’t have the type or size of space they were looking for. We have had 28 attraction prospect leads so far this year, with seven companies actually coming to town to visit, compared to just three all of 2011. There are also two local companies looking to expand currently. Out of the 58 active leads in seven different categories, 53 percent of them are in the manufacturing sector. The town of Windsor has a very diverse breakdown on the industries in the attraction prospect pipeline. Out of 14 different industries, the largest percentage of active prospects is in two sectors, energy at 22 percent and retail at 16 percent.

 HARP nearly doubles refinanced mortgages in first quarter The number of refinanced Fannie Mae and Freddie Mac mortgages nearly doubled in the first quarter as the largest banks launched the expanded Home Affordable Refinance Program. Servicers refinanced roughly 180,000 GSE loans in the first three months of 2012, nearly double the 93,000 completed in the fourth quarter, according to Federal Housing Finance Agency data. In March alone, servicers refinanced 80,000 borrowers under the program.