Jude's Real Estate Rumblings

More homeowners get help outside of federal program

Tue, 27 Jul 2010 17:33:54 -0400

More homeowners get help outside of federal program

More homeowners get help outside of federal program, as reported by USA Today, despite the attention given to the federal government’s $50 billion Home Affordable Modification Program (HAMP), a program to lower monthly mortgage payments for five years, the majority of financially distressed homeowners are getting alternative modifications through their lenders without any government involvement. Since its start in spring 2009, HAMP has produced only 389,198 permanent modifications through June. Recent reports by the government and private analysts show the modifications that servicers make on their own are growing compared with a year ago, and according to Hope Now, a consortium of counseling agencies, servicers and investors, more than 800,000 alternative modifications have been made so far in 2010 with borrowers.
http://www.usatoday.com/money/economy/housing/2010-07-23-mortgages23_CV_N.htm

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Real Estate Outlook: Federal Reserve Weighs In

Tue, 27 Jul 2010 17:29:17 -0400

Real Estate Outlook: Federal Reserve Weighs In

Real Estate Outlook: Federal Reserve Weighs In, as reported by Realty Times, the U.S. Congress asked Federal Reserve Board chairman Ben Bernanke a key question last week: Where do you and your colleagues believe we’re headed in terms of the national economy? Bernanke’s reply: There are bumps and potholes on the road to recovery, but the Fed “expects continued moderate (economic) growth, a gradual decline in the unemployment rate (to about 7 percent) and subdued inflation” over the next couple of years.
http://realtytimes.com/rtpages/20100726_realestateoutlook.htm

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Denver CO - Million-dollar home market shows some spark

Fri, 09 Jul 2010 14:58:08 -0400

Million-dollar home market shows some spark - The million-dollar home market is not on fire, but the vast majority of seven-figure homes selling from Boulder to Douglas counties, are not being unloaded at fire-sale prices. Sellers appeared to have made a profit on the vast majority of the homes closed in May. Million-dollar homes across the metro area sold for an average of 92.3% of the asking price. The analysis found that the average sales price per square foot for all of the homes was $334.58. See the full article for more stats:
http://insiderealestatenews.com/2010/07/million-dollar-home-market-shows-some-spar/

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30-Year Fixed Rate Mortgage Drops Slightly to Create Another New Low

Fri, 09 Jul 2010 14:43:23 -0400

30-Year Fixed Rate Mortgage Drops Slightly to Create Another New Low - The 30-year fixed-rate mortgage averaged 4.57% with an average 0.7 point for the week ending July 8, 2010, according to Freddie Mac's Primary Mortgage Market Survey. Last week, it averaged 4.58%, and a year ago it averaged 5.20%. "With mortgage rates falling to historic lows, refinance activity has been strong over the past three months," said Frank Nothaft, Freddie Mac vice president and chief economist. "The Bureau of Economic Analysis reported that the effective mortgage rate of all loans outstanding was just below six percent in the first quarter of 2010, the lowest since the series began in 1977." Read full article:
http://realtytimes.com/rtpages/20100709_rates.htm

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Unbelievable Deal! 10 rounds at Racoon Creek Golf Course in Littleton CO and 10 lessons for $159!

Fri, 09 Jul 2010 14:39:57 -0400

Raccoon Creek Golf Course Golf Package: Ten 18-Hole Green Fees and Ten One-Hour Group Clinics with a PGA Pro $ 159 buy now

Today's deal is our equivalent of a hole-in-one on a par-5 with a 3-iron during a tornado. That is to say, it's practically impossible. But that term "impossible" didn't stop us, just as it didn't stop Tiger Woods... on the golf course in the past decade, that is. Conquer the dream and your swing in Littleton at the Raccoon Creek Golf Course, which is offering ten one-hour group clinics with a PGA pro, plus ten green fees for the 18-hole course, all for $159 -- down from its regular rate of $1,000. That saves you $841, which could be considered your first endorsement, leading to a career in golf, putting you in the Masters -- which you'll win, becoming athlete of the year! We can dream, right?

Find out more »

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City of Aurora, CO urges residents to host block parties

Thu, 08 Jul 2010 23:30:53 -0400

City of Aurora, CO urges residents to host block parties

by: YourHub.com

Article Contributed on: 6/30/2010 2:28:54 PM

Neighborhood liaisons with the city are hoping to see more applications for block parties as summer kicks into gear.

About 25 block parties have been scheduled so far this year, many of which will be held over the Fourth of July weekend, said Margee Cannon, neighborhood liaison coordinator for the City of Aurora. Typically, about 50 of the community get-togethers are held each year at neighborhoods across the city, she said.

The parties, which require city approval, offer a "feeling of community and a quality of life," Cannon said.

"It provides a way for people to learn who their neighbors are," she said.

The city has streamlined the application process recently, allowing residents to apply online on the city's website at www.auroragov.org/e-services. City officials ask residents to apply about two weeks in advance of the party, Cannon said.

Neighborhood liaisons also provide informational kits for those who may be new to the process. A checklist is included in the packet, in addition to police and fire contacts.

"We've got tools to help them," she said. "Usually the first time is the most cumbersome, but as it becomes an annual event, people really start to look forward to them."

A local nonprofit organization, Neighborhood Resource Center of Colorado, provides $15 certificates to Safeway that help pay for the essentials of a block party, everything from plastic utensils and napkins to ice cream. The city also provides for blockades, though a $75 deposit is required, Cannon said.

Those interested in hosting a party are urged to go the city's website or call 303-739-7280.

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Aurora, CO KidSpree promises to be "A Mighty Kid Time" July 17 and 18

Thu, 08 Jul 2010 22:43:40 -0400

KidSpree promises to be "A Mighty Kid Time" July 17 and 18

by: Julie Patterson
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Article Contributed on: 7/2/2010 12:07:02 PM

It's sure to be "A Mighty Kid Time!" at this year's KidSpree festival from 10 a.m. to 5 p.m. July 17 and 18 at Bicentennial Park, 13655 E. Alameda Ave., in Aurora, CO. Admission is free.

The 15th annual festival's 2010 theme means plenty of activities related to superheroes. Visit with Batman, Robin and other favorite superheroes. Watch and learn how to do parkour with demonstrations and workshops by some pretty "super" humans. Make your own superhero cape, mask and wristbands. Get a souvenir picture of yourself as a superhero at KidSpree.

Other KidSpree activities include life-size board games like Kandy Lane, Hi Ho! Cherry-O and Aurora Fox Human Chess; a giant maze; MomsLikeMe.com's Toes in the Sand giant sandbox; and tons of art activities.

Entertainment will be provided by the award-winning national children's entertainer Dana and her giant "dog" Rowdy, the FunKinetic, Aurora Dance Arts and the Colorado Disc Dogs. On the Radio Disney KidStage, see dance ensembles, magic shows, karate demonstrations, the Aurora Symphony brass quartet, animal demonstrations and more.

Food and beverages are sold on site.

Parking is free at the Town Center at Aurora's southwest parking lot, with a free shuttle to the park.

For more information, visit www.auroragov.org/kidspree or call 303-326-8FUN (8386).

KidSpree is presented by the city of Aurora's Cultural Services Division, and sponsored by the Scientific & Cultural Facilities District, The Children's Hospital, State Farm, Your Neighborhood Toyota, Old Chicago, Rural/Metro Ambulance, K12 Colorado Virtual Academy, Radio Disney AM 1690, Mix 100, 92.5 The Wolf, the Aurora Sentinel, ColoradoKids.com and MomsLikeMe.com.

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South Suburban - Centennial, CO recognized for excellence

Wed, 30 Jun 2010 19:01:39 -0400

South Suburban recognized for excellence

by: Jean Ray
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Soccer practice at David A. Lorenz Park

Provided by: File photo

Article Contributed on: 6/30/2010 12:24:44 PM

South Suburban Park and Recreation District has been recognized by the American Academy for Park and Recreation Administration (AAPRA) and the National Recreation and Parks Association (NRPA) as being one of the top four recreation agencies in the United States.

Annually, AAPRA and NRPA host a Gold Medal Award competition to honor communities that demonstrate excellence in long-range planning, resource management, volunteerism, environmental stewardship, program development, professional development and agency recognition.Each agency is judged on its ability to address the needs of those it serves through the collective energies of citizens, staff and elected officials.

As one of four national finalists for agencies serving 100,001 to 250,000 residents, South Suburban is competing for the highest honor, the prestigious Grand Gold Medal Award. South Suburban is a prior three-time Grand Gold Medal Award winner and has earned recognition as a Gold Medal finalist eight other times.

This year's finalists are competing for Grand Gold Medal Award honors this summer, and all recipients will be announced live during NRPA's Annual Congress & Exposition in Minneapolis, Minn., Oct. 25 - 29, 2010.

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Register now for City of Aurora, CO preschool

Wed, 30 Jun 2010 18:49:15 -0400

Register now for City of Aurora preschool

by: Sherri-Jo Stowell
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Provided by: City of Aurora

Article Contributed on: 6/28/2010 8:38:51 AM

City of Aurora Preschools are currently taking registrations for Fall programs. Summer classes will beginAugust 23. Class information is available online and through theLeisure Living brochure. Fall classes are for children 2-5 years old. Preschool classes provide a nurturing, safe and fun environment with the opportunity to explore, play and learn.

The goalof the City of Aurora Preschool Programis to enrich and touch the lives of the future. We focus on the whole child to offer positive hands-on experiences that build each child's learning skills according to their age and ability. We provide quality classes lead by qualified staff at a competitive cost, develop life skills and kindergarten readiness.

Please call individual preschool sites to learn more or to register.

City of Aurora Preschool Sites:

Beck 303-739-6878

Lowry 303-326-8328

Meadowood 303-326-8304

Summer Valley 303-693-8321

Village Green 303-326-8640

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Spire retail space committed; 175 units sold so far at Denver, CO condo tower

Wed, 30 Jun 2010 16:10:05 -0400

Spire retail space committed; 175 units sold so far at Denver condo tower - Downtown Denver's new 493-unit Spire condo tower has commitments for all its retail space and is seeing strong unit sales, according to the developers. The high rise's 9,000 square feet of ground-level retail space already includes Spire's sales office. Last week, rental car giant Hertz Corp. started its "Connect by Hertz" service at the property. The building already has a cleaners and will soon have an Organic Pizza Co. restaurant and a Snarf's sub sandwich shop. Buyers who put a Spire unit under contract by June 30 may qualify for $8,000 in "Spire Credit," on a sale closing by Aug. 31. Read full article:
http://www.bizjournals.com/denver/stories/2010/06/21/daily73.html?s=industry&i=commercial_real_estate

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U.S. home prices rise 0.8% in April: S&P

Wed, 30 Jun 2010 16:08:05 -0400

U.S. home prices rise 0.8% in April: S&P - Prices have moved up 3.8% in the past year, marking the third consecutive year-over-year gain. Prices rose in 18 of the 20 metropolitan areas tracked by Case-Shiller in April compared with March. Over the past year, prices rose 4.4% in Denver. Read full article:
http://www.marketwatch.com/story/us-home-prices-rise-08-in-april-sp-2010-06-29?reflink=MW_news_stmp

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House votes to extend home buyer credit 3 months

Wed, 30 Jun 2010 16:05:40 -0400

House votes to extend home buyer credit 3 months - Yesterday, the House overwhelmingly passed a bill, which would give homebuyers an extra three months to complete their purchases and qualify for a generous tax credit. The extended deadline only applies to people who signed purchase agreements by April 30. The bill now goes to the Senate, where Senate Majority Leader Harry Reid, D-Nev., has sponsored a similar measure. More than 2.6 million taxpayers claimed the tax credit through April, according to the Internal Revenue Service. Read full article:
http://www.usatoday.com/money/economy/housing/2010-06-29-homebuyer-tax-credit_N.htm

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Case-Shiller: Denver, CO home values rise 6th consecutive month

Wed, 30 Jun 2010 16:04:17 -0400

Case-Shiller: Denver home values rise 6th consecutive month - Denver-area home prices rose an average of 4.4% in April from a year ago - marking the sixth consecutive month of year-over-year gains, shows the latest S&P Case-Shiller Home Price Index. The 4.4% gain was the largest since the trend began in November 2009. Each month, the percentage gain has grown. “I think the increases are sustainable,” said Gary Bauer, an independent broker who completes his own monthly report using Metrolist data. “I think we are going to see much lower increases going forward. I do think the Denver market should get a lot of credit for six continuous months of year-over-year increases." Read full article:
http://insiderealestatenews.com/2010/06/case-shiller-denver-home-values-rise-6th-consecutive-month/

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Fannie Mae gets tough on homeowners who walk away

Sat, 26 Jun 2010 09:14:30 -0400

Fannie Mae gets tough on homeowners who walk away - Fannie Mae is trying to encourage distressed homeowners to find alternatives to foreclosure by banning those who walk away from getting new loans for 7 years. Troubled borrowers who do not try in good faith to work out a deal, but have the capacity to pay, are targeted by the policy. "Walking away from a mortgage is bad for borrowers and bad for communities and our approach is meant to deter the disturbing trend toward strategic defaulting," said Terence Edwards, executive vice president for credit portfolio management. Read full article:
http://www.usatoday.com/money/economy/housing/2010-06-23-fannie-mae-walk-aways_N.htm

Banks: We're hiring so we can make more home loans

Sat, 26 Jun 2010 09:13:36 -0400

Banks: We're hiring so we can make more home loans - Several banks are gearing up to do a whole lot more mortgage lending in the future. These banks are hiring hundreds of loan originators, getting ready for what they believe will be a significant pick-up in lending. JPMorgan Chase is in the midst of hiring 1,200 mortgage officers. "We may not be inundated with applications tomorrow, but we are confident the the need will be there," said Christine Holevas, a spokeswoman for JPMorgan Chase. Read full article:
http://money.cnn.com/2010/06/24/news/economy/mortgage_lending/index.htm