Housing News Digest, August 11

Foreclosures fall in Colorado but problems still exist

New foreclosure filings fell to 15,348 in Colorado during 2011's first half, falling 28.2 percent from 2010's first-half total of 21,369, according to a report released today by the Colorado Division of Housing.

The report also noted that foreclosure sales at auction - the event that completes the foreclosure process - also dropped during the first half of 2011, falling 13 percent from 12,573 to 10,938, year-over-year.

Colorado foreclosure filings decline
Public trustees reported 7,233 foreclosure filings in the second quarter with 5,333 sales at auction being completed. Both numbers are down from the same period in 2010, when there were 10,233 filings and 5,887 homes sold, according to the Colorado Division of Housing 2Q Foreclosure Report.

That's the second-lowest quarterly total since 2007, according to the report.


Low-income apartments in Littleton get facelift
The Regal Apartments now live up to their name.

The 12-unit complex was completely decrepit as of December 2010, when local nonprofit organization Community Housing Development Association Inc. acquired it for $650,000. After a total renovation, the buildings re-opened for business this month. They’ll cater to low-income and special-needs individuals who need a little help making ends meet or getting back on their feet.

New CU students begin moving in and Williams Village North opens Aug. 16
New CU-Boulder students will move in Aug. 16 through Aug. 18 with the majority of freshmen moving in on Aug. 18, according to Kambiz Khalili, executive director for Housing and Dining Services.

Larimer County foreclosure sales, filings drop year-over-year

Year-over-year, foreclosure filings and sales have declined in Larimer County for the second quarter, according to a report released today by the Colorado Division of Housing.

Filings for Larimer dropped from 403 in the second quarter of 2010 to 332 this year, a 17.6 percent drop. At the same time foreclosure sales declined from 315 in 2010 to 194, a decline of 9.8 percent, according to the report.

NAR: Home sales, median price fall in second quarter

The median sales price of an existing home fell modestly in the second quarter as 27% of metropolitan areas experienced price gains from a year ago, the National Association of Realtors said Wednesday.

The national median, existing single-family home price hit $171,900, during the second quarter, down 2.8% from $176,800 a year earlier. Distressed home sales accounted for one-third of sales in the second quarter, a decline from 39% last year.