Has Anything GOOD Happened in the Colorado Market this September?

By
Real Estate Agent with Cherry Creek Properties

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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