Is there anything good going on in our corner of the market? Why, yes...
September 2008 Land Title
Job Gains:
The Colorado economy added roughly 35,000 net new jobs during the most recent 12 month period, a 1.5% gain. Such growth currently ranks fifth in the nation behind Wyoming, Texas, New Hampshire, and Utah. (Vectra Bank)
Good News for Denver-area Housing Market: The Denver area housing market showed the most appreciation of 20 metropolitan areas tracked by the closely watched S&P/Case-Shiller Home Price Indices from May to June. (Rocky Mountain News) Mortgage Volume Up 7.5%, Rates Down: The Mortgage Bankers Association reports a 7.5-percent increase in home loan demand during the week ended Aug. 29. The index indicates a 10.5-percent jump in purchase applications and a more modest 2.1-percent rise in refinancing requests. (Daily Real Estate News)
Cherry Creek Rolling Along: After a successful round of high-end redevelopments, the district will see several upscale new hotels, shops and office buildings in the next few years. (Denver Post) New, energy efficient apartment tower coming to Cherry Creek: At a time when many major real estate construction projects are being delayed or killed, RedPeak Properties has broken ground on a 14-story, $58 million luxury apartment high-rise in Cherry Creek. (Rocky Mountain News)
U.S. Treasury Department Announces Takeover of Fannie Mae; Freddie Mac:
Much to the relief of those in the real estate industry, on September 7, 2008, the U.S. Treasury Department announced its takeover of mortgage-finance companies Fannie Mae and Freddie Mac. From it should come a much-needed boost to the nation's housing market. (REAL Trends)
"Your present circumstances don't determine where you can go; they merely determine where you start." Nido Qubein
Jonathan Ghaly - www.JGhaly.YourCastle.org or JGhaly@YourCastle.org
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