Fixed-rate mortgages sank down near their record lows last week ,
according to Freddie Mac’s weekly mortgage market survey. 30-year fixed-rate
mortgages: averaged 3.32%, with an average 0.7 point, dropping from last week’s
3.34% average. 15-year fixed-rate mortgages: averaged 2.66%, with an
average 0.6 point, dropping from last week’s 2.67% average.
Read article – Realtor Magazine
Years after city planners sat down at their drafting tables, South Fort
Collins is beginning to see some big changes – with even more coming
soon. The biggest change could break ground in late 2013: A $200 million
residential development to be called Kechter Farms. More immediately,
developer Les Kaplan is now pushing forward with his plans to lure retail and
build apartments south of Harmony Road after selling off a chunk of his land
near the intersection of Lady Moon Drive to Banner Health System, which is
planning a hospital at the location.
Read article – Northern Colorado Business Report
Foreclosure filings were down 36.8% in Colorado metro counties during November, falling to the lowest level recorded in any month since the Colorado Division of Housing began collecting totals in 2007. According to the report, foreclosure filings dropped from 2,296 in November 2011 to 1,450 in November 2012. For the first eleven months of the year, January through November, foreclosure filings were down 6.5% in 2012 when compared to the same period last year.
Read article – Denver Post
The Federal Housing Administration is extending its 90-day “anti-flipping” waiver through 2014 – which could bode well for single-family investors, rehabbers and buyers seeking low down payment financing. The waiver allows buyers to purchase homes that have already been sold in less than 90 days. The latest two-year extension to the waiver includes several requirements, such as the property can’t have a pattern of previous flips during the 12 months before the transaction. Also, if the property being resold is more than 20% higher than what the seller paid for it, the seller must produce documentation showing renovations and repairs made to justify the sales price. Inspections are required when price jumps are higher than 20% too.
Read article- Realtor Magazine
The promising news about the housing market is that it is moving ahead in the right direction, even after the busy summer period has ended. Considering that summer is the height of the home purchasing season, the numbers being reported are still reason to be optimistic. The latest pending home sales data shows that consumers are still signing home purchase contracts while mortgage rates remain low, according to the National Association of Realtors. The pending home sales index rose 5.2% in October to 104.8 and is at the highest level since March, 2007 (except for the months when the home buyers tax credit was available).
Read article – Realty Times
The maximum conforming loan limits will remain the same for mortgages
acquired by Fannie Mae and Freddie Mac, the firms’ conservator said
Thursday. The Federal Housing Finance Agency said the maximum loan limit
for one-unit properties will remain at $417,000, but can still run as high as
$625,500 when the property resides in one of the designated high-cost areas.
Read article – Housing Wire
The $40 million project known as The Summit On College, will bring hundreds of new customers to area businesses. It’s the first major student-oriented housing project on the east side of campus. But perhaps more significantly, it’s the first of what city officials hope are many similar projects along Mason from Old Town south to Harmony Road. The 5-mile-long corridor has been zoned to encourage taller, busier buildings. For instance, if a developer agrees to build an underground parking garage, the building above it can be a story taller.
Read article – Coloradoan