Home Values on the Rise

Home Values On The Rise, an article from TheDenverChannel.com, reports that there are new signs that Colorado home values are rebounding. Buyers are still finding bargains in the more expensive homes. However, homes under $400,000 are going quickly. May marked the first monthly increase in home prices since the summer of 2006, according to the S&P/Case-Shiller index. Prices rose from April in 13 of the 20 cities tracked, notably Denver, Cleveland, Dallas and Boston. John Rebchook, a long time analyst of the Denver housing market predicts that Colorado will likely lead the way out of the recession. http://www.thedenverchannel.com/news/20207080/detail.html

Fixed Rate mortagage rates rise this week

Fixed-Rate Mortgage Rates Rise This Week, an article from Realty Times, reports that the 30-year fixed-rate mortgage averaged 5.20% with an average 0.7 point for the week ending July 23, 2009, according to Freddie Mac's Primary Mortgage Market Survey. Last week, it averaged 5.14%, and a year ago it was 6.63%. "Mortgage interest rates were mixed this past week with fixed-rate loans averaging somewhat higher while initial rates on ARMs were flat-to-down slightly," said Frank Nothaft, Freddie Mac vice president and chief economist. "Federal Reserve Chairman Bernanke, during his July 22 Senate testimony, noted that mortgage rates are lower than they were last fall, in part because of the Federal Reserve's actions, and housing affordability right now is the highest its been in many years." http://realtytimes.com/rtpages/20090724_rates.htm

Which cities will and won't recover the fastest

Which cities will, and won’t, recover the fastest. Boulder is one of the cities expected to recover sooner rather than later http://www.msnbc.msn.com/id/31372693/ns/business-forbescom/

Mortgage applications rise

Mortgage Applications Rise Slightlyhttp://www.realtor.org/rmodaily.nsf/pages/News2009072202

The cheapest metro areas to live

The Cheapest Metro Areas to Live Fort Collins-Loveland ranked #2 and Greeley #3 for the Mountain region http://www.realtor.org/rmodaily.nsf/pages/News2009072205

Colorado, Denver outperform nation on home-resale prices

Colorado, Denver outperform nation on home-resale prices, an article from The Denver Business Journal, reports that both metro Denver and the state of Colorado outperformed most of the rest of the country when it comes to prices of home resales. According to the LoanPerformance Home Price Index (HPI), the Denver-Aurora-Broomfield area had one of the lowest decreases in home-selling prices at 1.86% in May year over year. Month over month, the Denver area showed a .49% decrease in home prices in May. Colorado as a whole posted one of the smallest decreases in home selling price a few months ago, at 3.34% year over year.http://www.bizjournals.com/denver/stories/2009/07/20/daily55.html

New bigger homes take hold in Wellshire

New, bigger homes take hold in Wellshire, an article from The Denver Post, examines, Wellshire, a thriving area in southeast Denver with a small-town feel. "It's a great mix of old homes and new homes like ours, longtime residents and new residents, old and young," said Jeff Shoemaker a Wellshire resident. "There is the best of both the small town and yet an in-the-city neighborhood." Wellshire has expansive lots, low crime rates and prices that are solid - and climbing. The neighborhood is a short distance from Observatory Park, Eisenhower Park and the Wellshire Municipal Golf Course. Approximately three out of every four Wellshire homeowners are in their 30s, with school-age children. Wellshire consisted mostly of ranch-style brick homes built primarily in the late 1950s and early 1960s. "The ranches are being torn down and million-dollar properties are being constructed," said Denver Realtor Bill Rittner. "It's like University Park in the last 20 years, which is now primarily million-dollar homes. That's where Wellshire is headed." http://www.denverpost.com/businessheadlines/ci_12864765

Real Estate Outlook

Buyers Getting Message, an article from Realty Times, reports that continuing declines in mortgage rates and signs of home price pick-ups dominate this week's economic outlook for real estate. Thirty-year, fixed-rate mortgages averaged slightly over 5% last week, according to the Mortgage Bankers Association. Last week, new applications to buy houses and condos jumped by 9.4%, while refinance applications were up 18%. The home price index that tracks more zipcodes and neighborhoods than any other - the Integrated Asset 360 index - found that prices nationwide moved up by 1.6% in May, based on data from more than 15,000 sub-markets. IAS said the increase in prices was the largest recorded by the index since July of 2005. Prices in Denver were up by four tenths of a point.http://realtytimes.com/rtpages/20090721_realestateoutlook.htm

Richer neighborhoods buck home sales trend

All about location: Richer neighborhoods buck home sales trend, an article from The Denver Business Journal, reports that selling prices continue to rise in some of the Denver metro area's most desirable neighborhoods. According to recent data compiled by Metrolist, some of the area's experiencing average-selling price increases were as follows: Boulder - 26.8% to $732,865; Louisville - 4.4% to $399,276; Boulder County north of Lafayette - 2.8% to $336,292; Boulder plains area - 1.4% to $606,976; Douglas County's western area - 0.57% to $410,097. http://www.bizjournals.com/denver/stories/2009/07/20/story2.html?b=1248062400^1861968&s=industry

Single Family home prices rise in May

An article from Realtor Magazine Online, http://www.realtor.org/rmodaily.nsf/pages/News2009071502

6 figure towns feature Lone Tree, Co at no 8

Population: 9,159
Median family income (per year): $137,310
Median home price: $435,000
The city's motto unabashedly proclaims, "It's a great day to be in Lone Tree," for good reason. In this picture-perfect place just south of Denver, culture meets a thriving commercial community amid a backdrop of vast open spaces and Colorado's famous mountain views.
Exclusive residential gated communities and one of the best shopping malls in Denver contribute to Lone Tree's upscale feel. Residents get their cultural fix each summer during the outdoor summer concerts series. Having fun is so important to the folks in Lone Tree that they even voted to raise the city's sales tax this year to fund new recreational and cultural amenities.

http://money.cnn.com/galleries/2009/moneymag/0907/gallery.bplive_6_figure_towns.moneymag/8.html

Coloroad mortgage rates at 5.16%

Zillow: Colorado mortgage rates at 5.16%, an article from The Denver Business Journal, reports that Colorado mortgage rates continue to slide, according to Zillow Mortgage Marketplace. Rates for 30-year fixed-rate mortgages in Colorado averaged 5.16% on Saturday, down from an average of 5.23% a week earlier. In mid-June, these rates were averaging about 5.7%. Nationwide, mortgage rates averaged 5.14% Saturday. http://www.bizjournals.com/denver/stories/2009/07/06/daily99.html?s=industry

Best place to live... Louisville, Co

Best Places to Live, an article from CNNMoney.com, reports that Louisville, CO ranked #1 on Money's list of America's best small towns. Louisville is a down-to-earth kind of town. It has a Friday-night street fair, with a beer garden, live music and games for the kids, that runs all summer long. It's weathered the economic downturn well with its focus on the high tech, energy and health-care industries. The top reason residents move to Louisville? The great outdoors. It boasts over 30 miles of trails, close proximity to Rocky Mountain National Park and eight ski resorts within a two-hour drive. Also, the town's schools are highly rates. Louisville also enjoys little crime, good health care and low taxes. http://money.cnn.com/magazines/moneymag/bplive/2009/snapshots/PL0846355.html

Morgage rates down this week

Mortgage Rates Down This Week Amid Concerns Over Labor Market, an article from Realty Times, reports that the 30-year fixed-rate mortgage averaged 5.20% with an average 0.7 point for the week ending July 9, 2009, according to Freddie Mac's Primary Mortgage Market Survey. Last week, it averaged 5.32%, and a year ago it was 6.37%. “Interest rates for 30-year fixed-rate mortgages fell for the second week in a row to the lowest level in six weeks amid market concerns over a weakening labor market,” said Frank Nothaft, Feddie Mac vice president and chief economist. http://realtytimes.com/rtpages/20090710_rates.htm

Job Growth, tourism bright spots for region's economy

Job growth, tourism bright spots for region's economy, Silverstein.http://www.9news.com/money/article.aspx?storyid=119153&catid=344

New Protections for 1031 Exchange Funds

New Protections for 1031 Exchange Funds, http://www.moyewhite.com/mediacenter/newsletters.aspx

Pending Home sales rise again

Pending Home Sales Rise Again, an article from Realtor Magazine Online, reports that pending home sales displayed a sustained upward trend, rising for four consecutive months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, increased 0.1% to 90.7. This is 6.7% higher than in May 2008. There hasn't been four consecutive months of gain since October 2004. "Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions," said Lawrence Yun, NAR chief economist. http://www.realtor.org/RMODaily.nsf/pages/News2009070101

Denver fares best in home-proce survey

Denver fares best in home-price survey, an article from The Denver Post, reports that Denver fared the best among the 20 U.S. cities in the S&P/Case-Shiller home-price index for the second consecutive month. Denver is one of eight cities that recently reported a month-over-month gain in prices - rising 1.5%. "Seeing the recent numbers from the Case-Shiller report has given some credence to what we have been feeling in the market in Denver," said Dee Chirafisi of Kentwood City Properties. "Denver has been named one of the five best cities as far as real-estate recovery and the five best places to live, etc."http://www.denverpost.com/business/ci_12727752