gretchen

Defending Fannie Mae and Freddie Mac Hits $160 Million

So what does it cost the government to defend against civil lawsuits for fraud filed by taxpayers against Fannie Mae and Freddie Mac since Uncle Sam took them over?  So far, more than $160 million!  That’s right everyone…$160 million.

According to the Denver Post, the government’s lawsuit defense was a closely guarded secret until just a couple of weeks ago when the companies and their regulator More...

Dee

Metro Denver Home Prices on the Rise

Denver real estate appears to be making a comeback.  According to published reports, the median sale price for single-family homes in metro Denver rose 7.3 percent last year to $235,000.  Condominium sale prices rose slightly from $135,000 to $136,000. 

The 2010 price rise in single-family homes occurred even as the number of sales declined from 2009.  For the month of December 2010, homes listed for sale totaled 18,867, More...

Lance

Metro Denver Housing Market Poised for Rebound in 2011

What goes around comes around.  Projections for metro Denver’s housing market in 2011 are reminiscent of the market in 1989.  Twenty-two years ago, the Denver housing market was still reeling from the collapse of the energy markets and overbuilding as a result of oil prices hitting $65 a barrel.  When oil prices collapsed to around $12, the housing market collapsed as well. 

The Denver area was More...

Lance

Denver Area Commercial Real Estate Investing on the Rise

The Denver Post reported on December 26th that investment in commercial real estate in metro Denver more than doubled in 2010 over last year.  In a report by Margaret Jackson, investors have spent $1.01 billion on 54 office, retail and industrial properties versus $448 million on 30 transactions in 2009. 

Denver has consistently been in the top 10 markets for preferred investment, according to one More...

Larry

Most Common Denver Relocation Question

It just happened to me again this morning. I was asked a bunch of the Top 10 Denver Relocation Questions out-of-town buyers want answered.

When folks first consider moving to Denver it can seem to be a daunting task. There’s so many questions. Imagine a job requires you to move to a new city. Imagine More...

Peter

Home Resales Increase in November

The Associated Press reported on December 23rd that more people bought previously owned homes in November, the third increase in four months after one of the worst summers in more than a decade.

Buyers bought homes at a seasonally adjusted annual rate of 4.68 million, according to the National Association of Realtors.  However, economists say it could take at least two years or longer to return to a more normal level for sales More...

Dee

Pending Home Sales Increase in October

A recent analysis of pending sales of homes rose 10.4 percent in October due to attractive housing affordability conditions, according to an article in the Denver Post.  However, activity needs further improvement to reach a healthy level, according to the National Association of Realtors (NAR).

The NAR’s pending home sales index rose to 89.3 in October from 80.9 in September.  The 10.4 percent gain is the largest on More...

Lance

Delinquent loans decline at Fannie Mae

A recent report from the New York Times cited a glimmer of light at Fannie Mae.  While more than four percent of loans held by Fannie Mae are still delinquent, the rate declined recently as banks and the government refined their foreclosure prevention programs. 

The rate of single-family mortgages that are more than three months past due…loans that Fannie calls “seriously delinquent”…has fallen every month More...

Lance

Industry Newsletter Reports Trends in Foreclosures, Distressed Properties

Campbell/Inside Mortgage Finance’s “Housing Trends Update” October 2010 newsletter stated that the proportion of foreclosure and other distressed property sales found in the housing market continued to climb in September.  The data suggests, according to the article, that any significant delay in foreclosures resulting from recent legal controversy could have major repercussions for the More...

Lance

Mortgage Bailout Tab May Hit $259 Billion

The Denver Post reported on October 22nd that the government projects that the expensive bailout of Fannie Mae and Freddie Mac will cost the taxpayers as much as $259 billion.  That figure would be nearly twice the amount Fannie and Freddie have received so far.  To date, the rescue of the two companies has cost taxpayers $135 billion to the Treasury Department as dividends. 

By contrast, according to the Post article More...