Happy Canyon Shopping Center Update

According to the latest court filings surrounding the Happy Canyon Shopping Center, an auction was held for the Happy Canyon Shoppes (the existing stores) on February 22, 2019.  Two bidders submitted bids.  BPI, Inc. and Gart Properties, LLC.  BPI won the auction and is undergoing due diligence on the property. This auction DID NOT include …

MARKET STABILIZES IN FEBRUARY – Despite Boost in Inventory

Statistics from February are in from REColorado and it looks like things were relatively stable across most categories despite a decent bump in the amount of inventory.  Even with a 9% increase in inventory, pricing was relatively stable, showing that buyers - particularly in the lower price points are still eager to purchase. Here's a …

Happy Canyon – Legal Wrangling Ensues Regarding Sale

Following up on a previous post on the Denver Post Article about the Happy Canyon Shopping Center,attached (link here:gdadoc)is a filing in Denver District Court, from January 15th, where the receiver, Harvey Sender is seeking an order to authorize the sale of the Happy Canyon Shoppes - AKA the retail strip center, NOT the old …

Happy Canyon Shopping Center Update??

Today's Denver Post has an article on the status of the Happy Canyon Shopping Center project titled: "Happy Canyon shopping center: Indictments, delays and light at the end of the tunnel" Here is a photo I took in August 2018 - nothing has changed since (except 4 months of exposure to weather). The article paints …

When Will Denver Home Prices Eclipse 2006 Peak?

The rebound we re seeing is amazing considering where we were just 12 months ago.  Roughly 13% increase in average price year over year!!! We are quickly approaching 2006 peak pricing. All indicators are up again and there is no indication of the typical slowing we see in the winter months.  Since inventory is still …

Federal Reserves QE3 Action Impact

From Calculated Risk Blog: • And on effectiveness, one of the key transmission channels for monetary policy is through residential investment and mortgages. The previous rounds of QE (and "twist") have lowered mortgage rates and allowed homeowners with excellent credit and income to refinance. However this channel has been limited as Bernanke noted in his Jackson Hole speech: …

Home Prices Continue Upward

Report from Denver Business Journal on CoreLogic price survey results - bottom line - Denver is doing well - 8.4% increase over July 2011! The Denver real estate market continues to ride a wave of recovery as evidenced by gains in home sale prices, according to the CoreLogic Inc. home price index (HPI) report released …

County looks at taking over underwater loans using Eminent Domain

A novel approach has arisen to dealing with a neighborhood crisis in especially hard hit areas - Eminent Domain.  This is the power granted to the state in the 5th Amendment to the US Constitution and extended to the state and local level by the 14th Amendment .  Fortunately, the Denver housing remained strong enough that a …

Denver Foreclosure Filings Down 40% – Filings Up and Sales Down Statewide

From John Rebchook: "Foreclosure filings were up in Colorado during July, but foreclosure auction sales fell to a six-year low." Note that these totals are Statewide figures.  The Statewide figures showing filings up is influenced in large part by activity outside the Denver Metro Area - for instance, in Mesa County (Grand Junction) filings increased by 22.5%. …

Recovery in Housing or Just Smoke and Mirrors?

Came across this interesting blog post: Housing Recovery Narrative Surges Forward, But Reasons for Price Rise More Sinister I think this  author's main point is that we should be skeptical of the "everything is getting better" messaging that is filtering through the press - to which I whole-heartily agree.  True real estate professionals should always be …

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