$255 million apartment sale in Superior said to be Colorado’s largest ever

A 1,206-unit apartment complex in Superior has sold for $255 million, making it the largest apartment-complex sale in Colorado’s history. The Horizons at Rock Creek at the intersection of U.S. 36 and 88th Street has been sold to Bell Partners of Greensboro, North Carolina. “There were 20 competitive offers on the property given the market’s strong fundamentals,” said Shane Ozment of ARA Newmark.
Read article – Denver Business Journal

Price Jumps Are Leading to More Flips

More investors are flipping properties again, a trend that started last year and is building momentum across the country. Investors lately are showing more interest in purchasing a home to flip than renting it out. In fact there was a 6.5% quarter-over-quarter increase in favor of flipping in the first quarter of 2015, according to Auction.com’s First Quarter 2015 Real Estate Investor Activity Report.
Read article – Realtor Magazine

Hot housing market: Boulder County home buyers are lining up for less inventory

Wintertime used to bring a chill to home-buying activity in Boulder County. That’s not the case right now: Even snowy day open houses are crammed with a couple of dozen prospective buyers. The number of available houses for sale in the county is at a 10-plus-year low, jolting appreciation, creating bidding wars and pricing some people out in the process. Some are calling the market reminiscent of what the region saw during the tech boom days in the early ’90s.
Read article – Longmont Times Call

FHA loan versus ‘conventional’ mortgage: Which is better?

Start with your FICO credit score. If you’ve got a score of 620 to 719 and you have a down payment of 5% or less, the FHA is likely to become your first choice in terms of monthly payments. It will cost you less in principal, interest rate and mortgage insurance charges compared with what you’d pay for a “conventional” loan eligible for purchase by Fannie Mae or Freddie Mac with private mortgage insurance.
Read article – LA Times

Loveland-area real estate: Rising expectations – and prices

Because of competition among buyers for homes under $400,000 – where 82% of local sales took place, homes in the market sold for 99.2% of the asking price. But only 45% of the new homes being built are priced below $400,000, because of rising costs for materials, labor and land. With a high demand and low supply of affordable lots in Fort Collins, buyers are “driving until they qualify” – to Wellington and to Greeley, according to Eric Thompson, president of the Windermere Real Estate office in Fort Collins.
Read article – Loveland Reporter Herald