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

Forecasters see growth for Colorado

Economists and market observers forecast growth in Colorado’s economy and jobs next year, although some of that growth will hinge on lower oil prices. Colorado will gain 61,300 jobs next year, according to economist Richard Wobbekind. The growth will come from almost every business sector, and will rank the state in the top 10 states for job growth. Colorado State University economist Martin Shields expects Colorado’s gross state product to grow from 2.5 percent to 3 percent, led by economies in the Denver metro area, Boulder Valley and Northern Colorado.
Read article – BizWest

Northern Colorado adds 1K new homes in 2014

More than 1,000 new homes were added to Northern Colorado’s tight, rapidly growing housing market in 2014. Fort Collins and Timnath both saw a year-over-year increase in the number of building permits issued for single-residential units in 2014. Windsor, on the other hand, saw construction slow this year. Fort Collins is expected to have another strong year of housing development in 2015. At least 10 development projects are currently under review that call for 480 single-family units to be built.
Read article – Coloradoan

Longmont approves flood repair micro-loans and $800K land purchase

The City Council on Tuesday night approved both an $800,000 loan so the Longmont Housing Development Corp. can buy land for affordable housing, and a micro-loan program designed to assist 2013 flood victims who still need financial help. The Development Corp. would use the $800,000 to buy 2.4 acres of land for sale at 18th Avenue and Hover Street, near the existing Lodge and Hearthstone buildings that now house senior citizens in need of affordable rental housing.
Read article – Daily Camera