Standard Pacific Homes has begun work on clearing land for Compass, a 487-unit residential development at the northwest corner of Arapahoe Road and County Line Road in Erie. The community will consist of about 350 single-family homes and 130 attached units that could be duplexes or condos. The project is one of several residential projects under way in Erie, including Colliers Hill (formerly called Daybreak), 2,800 units; Erie Highlands, 922 residential units; and Flatirons Meadows, 875 single-family homes.
Read article – Northern Colorado Business Report
Real Estate
Pent Up Demand Overshadowed by Fear and Mortgage Misperceptions
Fear they will not qualify for a mortgage has stopped nearly half (46%) of today’s potential home buyers from pursuing the financing they need to buy a home, according to a new national consumer survey from loanDepot, the nation’s third largest private, independent retail home loan lender. While strong pent up demand to buy a home exists among a broad national cross section of the population, very few prospective buyers have actually taken any steps to see if they’ll qualify for a home loan.
Read article – Sys-Con Media
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
Central Air Conditioning Maintenance
Why should a homeowner schedule regular maintenance on the air conditioning unit? The number one reason is: to save money! Having an HVAC contractor service the unit can save thousands of dollars down the road if they discover something minor that could potentially lead to big trouble later on. And, really, these things never break down at a convenient time, we all know that!
First item to check is the weather. In order to safely test a central air conditioning unit, the ambient temperature should be 65 degrees or better. In Colorado, this time frame can be April, but definitely can be done in May. But, best to get it done earlier than later. Once it heats up outside, the HVAC companies will be busy and their schedules will be much tighter.
How often: Annually
Cost: The cost varies, but usually runs from $75-$100 (provided no major repairs need to be done)
During the service call, the HVAC technician should perform the following:
1. Check for proper refrigerant (freon) levels. A low level indicates a leak, to be found and repaired before adding more freon.
2. Check all electrical components and controls.
3. Clean evaporator and condenser coils, as needed.
4. Oil motors as needed.
5. Calibrate thermostat.
6. Check Condenser.
7. Check filters.
For those DIY’ers……here are some items to keep in mind:
The first thing to do is to check the condensing unit outside to make sure it’s not covered up. Some homeowners intentionally cover the unit even though it is not necessary because it is designed to withstand the natural elements. Also, leaves from the fall, lawn furniture, toys, newspapers etc, can end up on or around the condensing unit so be sure that it is clear of all debris.
- Run the air conditioner before you need it. If you wait until its hot out, you’ll be stuck in a long line of homeowners waiting for an HVAC technician.
- Change the filters regularly. Dirty filters reduce efficiency, restrict air flow, and can help with mechanical failure.
- Be sure the thermostat is set in the cooling mode. Setting the temperature lower will not activate the air conditioning.
- Never use water to clean the the air conditioning unit. A clean unit will operate at top efficiency, but homeowners using a hose and water run the risk of electrical shock and possibly shorting electrical components.
Article courtesy of Blue Ribbon Home Warranty
Around The House 