Mortgage Availability Hits 3-Year High

Access to mortgage credit is at its highest level in at least three years, and credit standards are expected to loosen even more this year, according to a newly-released index by the Mortgage Bankers Association.  MBA’s index, which tracks mortgage credit availability, shows that in March the gauge rose to 114 – the highest reading in the gauge’s three-year history.
Read article – Realtor Magazine

791-home neighborhood to be built at Centerra

McWhinney is partnering with four home builders to bring 791 homes to a new 300-acre neighborhood, The Lakes at Centerra.  The Lakes at Centerra will include townhomes, single-family homes and patio homes.  Boulder Creek Neighborhoods will build ranch-style patio homes and townhomes; TRI Point Homes will build ranch and two-story homes; Village Homes will build “spacious” energy-efficient, single-family homes; and Wonderland Homes will build luxury single-family homes and patio homes.
Read article – Coloradoan

Home listings up slightly from February to March

The area housing market experienced a boost in the number of single-family detached home listings from February to March but is still down significantly from the same month a year ago in most communities.  Greeley/Evans continued to be the only local area of the five communities where the number of year-to-date sales has outpaced 2013.  In Greeley, the median sale price in March was $184,000 – up significantly from $164,500 a year ago.
Read article – Northern Colorado Business Report

Apartment complex in Fort Collins sells for $39 million

Boulder County couple Jeff and Mindy Sanders this month paid $39 million to purchase the 240-unit Terra Vida apartment complex in southeast Fort Collins.  The deal came a little more than a month after the pair sold 116 apartments at the Uptown Broadway development in Boulder for $26.9 million.  The Sanders’ entity, Mountain View Terra Vida LLC, bought Terra Vida from Denver-based Milestone Development Group LLC and partner Les Kaplan, a Fort Collins developer.
Read article – Northern Colorado Business Report

Special report: Foothills Mall interrupted

From the Northern Colorado Business Report.

When the city of Fort Collins and developers of Foothills Mall reached agreement on a $53 million financing package in May, it looked as if all systems were “go.”

But in fact, within two weeks, alarm bells were sounding as developers warned that city delays in making decisions threatened their ability to launch the project, and as the city fielded complaints from major players, such as Arc Thrift Store, that developers were ignoring commitments to help the nonprofit relocate.

With each passing month, costs rose as the complicated public-private partnership encountered one snag after another. To read the Business Report’s online analysis of what has delayed this ground-breaking project, visit: www.ncbr.com/section/foothillsmall.

Refinancing? Why Your Bank May Not Be the Best Deal

Procuring a second opinion from an outside lender against and your mortgage holder’s quote is always a prudent route to explore, even more so if you have steady employment, good credit and manageable debts.  Working with an expert loan professional could mean the difference between having a quick, efficient process with reasonable rates and fees and a process with a lender that cannot be guaranteed to go easily merely because they collect your mortgage payment each month.
Read article – Yahoo! Finance

Revive housing project not dead yet

Developers hoping to revive a geothermal housing and commercial project in North Fort Collins haven’t given up hope yet.  Options for the stalled 89-unit project could include redesigning the project to make it more financially feasible or going ahead without tax increment financing, or TIF.  The city’s Urban Renewal office hopes the project can be saved.
Read article – Coloradoan