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Council declines request to change City Plan, an article from The Colorodoan, reports that council members declined city staff's request for direction to change the City Plan to accommodate what it calls inevitable retail growth along I-25. Mayor Pro-Tem Kelly Ohlson said, "I am supportive of moving forward and discussing all of the (interchanges), but we need to have more information about that before we can move in any direction. I would like to know if (any proposed changes) conflict with other areas of the City Plan." City staff told council members that replacing the interchanges being dubbed "gateways" to Fort Collins is a key component to any retail development, adding that growth projections show there is room for another retail hub in Northern Colorado - a hub that developers will most likely want to put along the highway.
http://www.coloradoan.com/apps/pbcs.dll/article?AID=/20080213/NEWS01/802130338/1002/CUSTOMERSERVICE02
Rising foreclosures pressure housing prices, an article from MSNBC.com, reports that a growing share of home sales are from foreclosures, especially in states hardest hit by the housing bust. Real estate experts say the growing proportion of foreclosure sales is both a symptom and cause of worsening conditions in the weakest housing markets. Their reasoning is that homeowners who aren't on a deadline to sell are pulling their properties off the market, and the remaining inventory is increasingly held by banks eager to unload foreclosed properties at fire-sale prices rather than carry the costs on their books. Although foreclosure sales are bad news for homeowners in neighborhoods with high foreclosure rates, they are a boon for well-financed buyers looking for properties at bargain prices. And in broad terms, economists view them as part of getting back to more realistic prices after years of excess. Walter Molony, National Association of Realtors spokesman, said in an effort to get a handle on the scope of the problem, the National Association of Realtors is conducting an informal survey of the issue and is planning to release findings later this month.
http://www.msnbc.msn.com/id/23129556/
Additional articles that you may find of interest:
McWhinney completes Rangeview Three
http://www.greeleytrib.com/article/20080213/BUSINESS/935420572
County can take shot at land
http://www.timescall.com/News_Story.asp?id=6515
7 ways to fight property taxes
http://money.cnn.com/2008/02/12/real_estate/tax_squeeze.moneymag/index.htm?postversion=2008021306
Is a reverse mortgage right for you?
http://www.msnbc.msn.com/id/23133228/
Buying Foreclosed Homes Without Going the Auction Route
http://www.realestatejournal.com/buysell/tactics/20080213-evans.html
Condo Trends: Swollen Inventory Gives Buyers Opportunity
http://realtytimes.com/rtpages/20080213_condotrends.htm
Home Values - Can New Homeowners with Negative Equity Turn It Around?
http://rismedia.com/wp/2008-02-12/home-values-can-new-homeowners-with-negative-equity-turn-it-around/
Mortgage Insurer Tightens Standards
http://www.realtor.org/rmodaily.nsf/pages/News2008021206
The Housing Bust Shakes Up Rentals
http://www.businessweek.com/lifestyle/content/feb2008/bw20080212_247245.htm?chan=top+news_top+news+index_businessweek+exclusives
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