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Good News About Colorado Real Estate

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GOOD NEWS ABOUT THE COLORADO REAL ESTATE MARKET and POSITIVE REASONS FOR GETTING YOUR REAL ESTATE LICENSE NOW

"HOT OFF THE PRESSES" - DECEMBER 2009

Homebuyer Tax Credit Extended, Expanded
The House of Representatives passed legislation November 5th that would extend and expand the tax credit for first-time home buyers.
(See the full article here: Homebuyer Tax Credit Extended, Expanded )

Denver Home Resales Rebound in October
Metro Denver home resales increased in October from September, but were down from October of last year, according to a Metrolist Inc. housing report released Friday.
(See the full article here: Denver Home Resales Rebound in October )

Existing-Home Sales Jump 13% in West, 9.4% Nationwide
First-time homebuyers helped drive up existing home sales nationwide -- and especially in the western states, including Colorado -- according to the latest figures from the National Association of Realtors. In the West, including Colorado, existing-home sales jumped 13 percent to an annual level of 1.3 million in September -- 5.7 percent higher than a year ago.
(See the full article here: Existing-Home Sales Jump 13% in West, 9.4% Nationwide )

Colorado Springs Makes Business Weeks ’40 Strongest’ List
Once again, Colorado Springs is in the spotlight for being a great place to live–but this time it’s not for the mountains, the view or the many places to hike, mountain bike or road bike. The Springs is on BusinessWeek’s 40 Strongest U.S. Metro Economies list. The Pikes Peak region ranked 24th on the list, which was compiled using data and analysis from Brookings Institution’s new MetroMonitor study.
(See the full article here: Colorado Springs Makes Business Weeks ’40 Strongest’ List )

SMA Solar Plant to Bring Hundreds of Jobs to Denver
Solar Technology AG, the world’s largest manufacturer of a critical component in solar power generation, said Monday it will invest about $20 million in its first North American manufacturing plant — in Denver — expected to open in the first half of 2010.
(See the full article here: SMA Solar Plant to Bring Hundreds of Jobs to Denver )

Cabela's Plans Grand Junction Store
Cabela's Inc. announced today that it will build a 75,000-square-foot store in Grand Junction, the Nebraska-based outfitter's first retail outlet in Colorado. Work on the store, which will anchor the south end of Mesa Mall at U.S. highways 6 and 50, is expected to begin in early November with the opening in early summer 2010.
(See the full article here: Cabela's Plans Grand Junction Store )

Vail Resorts' Sales of Season Passes Increase 13 Percent
Vail Resorts Inc.'s season-pass sales rose 13 percent in September as skiers eager for powder prepared to make tracks a year after the financial crisis.
(See the full article here: Vail Resorts' Sales of Season Passes Increase 13 Percent )

LAST MONTH - NOVEMBER 2009

Colorado Mortgage Rates Sink to 4.54%
Colorado home mortgage rates continue to sink this week, reaching 4.54 percent on a 30-year fixed loan Wednesday, according to Zillow Mortgage Marketplace.
(See the full article here: Colorado Mortgage Rates Sink to 4.54% )

Kiewit Named Contractor for Denver Zoo’s $50M Asian Tropics Exhibit
The Denver Zoo said Monday it has selected Kiewit Building Group from among five bidders as general contractor for the zoo’s 10-acre Asian Tropics exhibit, the largest exhibit in its 113-year history.
(See the full article here: Kiewit Named Contractor for Denver Zoo’s $50M Asian Tropics Exhibit )

Colorado Unemployment: 3rd Straight Decline in October 2009
Colorado's unemployment rate fell slightly to 6.9 percent in October, the third consecutive monthly decline in joblessness and the lowest rate since January, the Colorado Department of Labor and Employment said November 20th.
(See the full article here: Colorado Unemployment: 3rd Straight Decline in October 2009 )

Realtors: Existing-Home Sales Rise in West, but Less than National Rate
Home resales in Colorado and other western states rose 1.6 percent in October from the previous month and are up 12 percent from a year earlier, the National Association of Realtors reported November 23rd.
(See the full article here: Realtors: Existing-Home Sales Rise in West, but Less than National Rate )

Region's Cities Among Nation's Best Performing
Northern Colorado ranked high in the nation and at the top for Colorado in the 2009 Best-Performing Cities index.
(See the full article here: Region's Cities Among Nation's Best Performing )

Company Announcements Help Establish Base for Job Growth in Metro Denver
In Metro Denver, numerous company announcements over the past several months reflect the region’s strong business climate – even during recession – and will help establish a base for job growth as conditions improve, according to data compiled by the Metro Denver Economic Development Corporation (Metro Denver EDC) in its Monthly Economic Summary for November 2009.
(See the full article here: Company Announcements Help Establish Base for Job Growth in Metro Denver )

New Home Sales Rise in October
New home sales rose 6.2 percent in October compared to September, according to a report released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This increase was 5.1 percent above the October 2008 level.
(See the full article here: New Home Sales Rise in October )

OCTOBER 2009

Forbes Ranked Colorado Fourth Best State for Business
Forbes.com's latest ranking of the best states for business ranks Colorado at No. 4, up from No. 6 last year. The ranking measures six categories for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Colorado finished in the top 15 in four of the six main categories, including quality of its workforce (1st), prospects for growth (2nd), and economic climate.
(See the full article here: Forbes Ranked Colorado Fourth Best State for Business )

Denver Home Prices Rise Again, Getting Closer to 2008 Levels
Home prices in the Denver area rose in July for the fifth straight month, and prices are creeping closer to where they were a year ago, according to Standard & Poor's closely watched S&P/Case-Shiller Home Prices Index.
(See the full article here: Denver Home Prices Rise Again, Getting Closer to 2008 Levels )

Vestas Hiring Workers for Brighton Plant, Plans Job Fair
Vestas Nacelles America Inc. is recruiting workers for its planned Brighton wind-power factory and will hold a career fair Thursday. Vestas announced last year it will build a $290 million plant in Brighton for assembling wind-turbine nacelles and making blades. The facility is expected to be in operation by next year. The blade factory will employ about 650 people and the nacelle plant will have about 700 employees, Vestas has said.
(See the full article here: Vestas Hiring Workers for Brighton Plant, Plans Job Fair )

Record Streak Continues for Pending Home Sales:
Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said.
(See the full article here: Record Streak Continues for Pending Home Sales: )

Colorado Mortgage Rates Hit 4.9%, Lowest in Months
Mortgage rates in Colorado dipped to 4.9 percent Tuesday September 29th, their lowest level in several months, and were headed lower Wednesday, Zillow Mortgage Marketplace reported. Local rates for 30-year-fixed mortgages topped 5.3 percent in early August and have been heading more or less downward ever since, according to Zillow data.
(See the full article here: Colorado Mortgage Rates Hit 4.9%, Lowest in Months )

Is the Vail Valley Economy Starting to Rebound?
The Vail Valley's giddy boom days of 2007 are long past, but there may be some signs the local economy is starting to show some signs of life.
(See the full article here: Is the Vail Valley Economy Starting to Rebound? )

Denver No. 7 as Youth Magnet
The Wall Street Journal enlisted the help of six experts to determine the 10 most attractive cities that for attracting young professionals, and profiled the top 5. Denver ranked No. 7.
(See the full article here: Denver No. 7 as Youth Magnet )

SEPTEMBER 2009

CNBC Rates Colorado #3 in America’s Top States for Doing Business
(See the full article here: CNBC Rates Colorado #3 in America’s Top States for Doing Business )

ABC News Rates Boulder as a Top 10 Place to Sell a Home in the Nation
Median Home Value: $ 318,900, up 2 percent from a year ago. Property values are up 2 percent compared with five years ago. 61 percent of homes are increasing in value 85 percent of homes were sold for a gain.
(See the full article here: ABC News Rates Boulder as a Top 10 Place to Sell a Home in the Nation )

America’s Strongest Housing Markets – Boulder #1
Working with data from Zillow.com, BusinessWeek came up with the strongest housing markets by ranking metro areas based on the share of single-family homes for which values rose in the second quarter, compared with the second quarter of 2008. In the top-ranked metro, Boulder, an affluent Denver city that is home to the University of Colorado at Boulder, 59.39% of homes appreciated during the past year, and the median home value rose 2.12% on a year-over-year basis.
(See the full article here: America’s Strongest Housing Markets – Boulder #1 )

Denver makes list of '10 Best Places to Grow Up
Good news if you're looking to raise a family in Denver. The Mile High City is number 6 on the list of "America's 10 Best Places to Grow Up."
(See the full article here: Denver makes list of '10 Best Places to Grow Up )

Study: Colorado 11th in State ‘Economic Performance’
Colorado ranks 11th best among the states in an evaluation of economic performance by the Pacific Research Institute, a free-market think tank. The report, issued August 18th, rates the states using a variety of yardsticks, including gross domestic product, disposable income, private-sector job growth, the poverty and unemployment rates, and in- or out-migration.
(See the full article here: Study: Colorado 11th in State ‘Economic Performance’ )

Vestas Backs its $1 Billion Worth of Wind Projects in Colorado
When Vestas Wind Systems A/S — the world's largest maker of wind turbines — decided to build a factory in Colorado, one of the first things it did was send some local hires to Europe.
(See the full article here: Vestas Backs its $1 Billion Worth of Wind Projects in Colorado )

Consumer Sentiment Improves More than Expected in August
Consumer sentiment rose more than expected in August and expectations hit the highest level since the recession began, indications that Americans' pessimism about the economy may be lifting.
(See the full article here: Consumer Sentiment Improves More than Expected in August )

AUGUST 2009
Denver Scores Best Month of 2009 for Home Resales
July home resales in metro Denver were the best of any month yet in 2009, but still down from the same month of 2008, according to Metrolist Inc. data released Friday by member brokers. read more here
(See the full article here: Denver Scores Best Month of 2009 for Home Resales )

Pending Home Sales Up for 5th Straight Month
WASHINGTON (Reuters) — Pending sales of previously owned homes rose at a faster-than-expected pace in June, a real estate trade group said August 4, more evidence the housing market was starting to claw out of a three-year slump. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in June, rose 3.6% to 94.6. It was the fifth straight month of advance and the first such streak in six years, the industry group said. read more here
(See the full article here: Pending Home Sales Up for 5th Straight Month )

Fed's Beige Book: Region’s Economy Shows “further signs of stabilization”
The economy in Colorado and six neighboring states “showed further signs of stabilization in June,” the U.S. Federal Reserve reported Wednesday in its latest “Beige Book” survey of the region’s business executives. read more here
(See the full article here: Fed's Beige Book: Region’s Economy Shows “further signs of stabilization” )

Louisville, Colorado Named "Best Place to Live"
A big honor for one of metro Denver's smaller suburbs. CNNMoney.com has named Louisville the #1 "Best Place to Live" in America. Just a few miles east of the Rockies, CNNMoney says Louisville has the perfect location, charm and energy, and is "weathering the economic downturn well." It cited the city's high-tech, energy and health care industries which make Boulder County's unemployment rate among the lowest in the state. read more here
(See the full article here: Louisville, Colorado Named "Best Place to Live" )

Grand Junction Home Prices, Sales on the Rise
The real estate roller coaster is beginning to chug uphill again after months of free falling. The median price of Grand Junction-area single-family homes that sold in the second quarter this year increased to $212,019 from $206,667 in the first quarter. The number of homes sold also increased from one quarter to the other, going from 306 to 504. read more here
(See the full article here: Grand Junction Home Prices, Sales on the Rise )

ServiceMagic.com Plans to Hire up to 200
Online contractor listing service ServiceMagic.com said Monday it expects to hire up to 200 new employees at its Golden headquarters by year’s end. read more here
(See the full article here: ServiceMagic.com Plans to Hire up to 200 )

Greeley Recommended for Retirement Move
Greeley is among eight affordable cities for relocating retirees profiled in the September/October 2009 issue of Where to Retire magazine.
(See the full article here: Greeley Recommended for Retirement Move )

Westminster Seeks Development Proposals for Mall Area
The city of Westminster on Monday started seeking proposals from developers on creating a new, urban-type development on 108 acres anchored by Westminster Mall, one of metro Denver’s largest shopping centers. read more here
(See the full article here: Westminster Seeks Development Proposals for Mall Area )

JULY 2009
Forbes: Denver is America’s Best City to Buy a Home
Denver is America’s best city to buy a home, Forbes magazine says in a new ranking of U.S. metro areas.” While the majority of the nation’s housing markets are still working toward a bottom, some cities are boasting fundamentals that make them good places to buy a home now,” Forbes reported last week.
(See the full article here: Forbes: Denver is America’s Best City to Buy a Home )

Metrolist: Denver's Resale Housing Market Showing Hopeful Signs
Metro Denver's resale housing market appeared to start returning to normalcy in June, according to sales data Tuesday from Metrolist Inc. Single-family home sales in June, for example, were equally split between the lower price ranges that appeal to first-time homebuyers and pricier houses that attract homebuyers moving up to larger and/or more expensive homes.
(See the full article here: Metrolist: Denver's Resale Housing Market Showing Hopeful Signs )

Colorado Wind Farm to Supply Tri-State Power Customers
A new wind-power project by Duke Energy Corp. on Colorado's Eastern Plains will supply electricity to customers of Tri-State Generation and Transmission, the state's second-largest power supplier. The wind farm is to be build by Charlotte, N.C.-based Duke Energy (NYSE: DUK), with power supplied to Westminster-based Tri-State under a 20-year power-purchase agreement, Duke said.
(See the full article here: Colorado Wind Farm to Supply Tri-State Power Customers )

Denver Unemployment Numbers Drop
After a steady climb in the unemployment rate for Denver County earlier this year, the percentage of people without jobs has fallen for two consecutive months. The federal Bureau of Labor Statistics said Tuesday the county’s jobless rate for May fell to 8 percent. That’s the lowest percentage so far in 2009.
(See the full article here: Denver Unemployment Numbers Drop )

Study: Colorado Clean-energy Jobs Growing Twice as Fast as Other Industries
Colorado gained jobs in “clean energy” industries twice as fast as the state’s job-growth rate as a whole in the 10 years ending in 2007, a study released Wednesday by the Pew Charitable Trusts reports.
(See the full article here: Study: Colorado Clean-energy Jobs Growing Twice as Fast as Other Industries )

Colorado Cities Rank as Best Places for Young Professionals
Ft. Collins named #1: Colorado cities rank high in "Next Cities” rankings - the best places to live and work for young professionals - in three population categories. Denver, Colorado Springs, Ft. Collins and Pueblo all made the lists with Ft. Collins named the #1 city in the category for population of 100,000 – 200,000.
(See the full article here: Colorado Cities Rank as Best Places for Young Professionals )

JUNE 2009
Video: Denver Tops Rebounding Housing Markets
Barbara Corcoran highlights Denver as the number one recovering housing market on NBC's Today Show saying, "Everything about Denver is pointing Up, Up, Up!"
(Watch the full video here: Denver Tops Rebounding Housing Markets)

Jobs May Recover First in Colorado
If you want to be in the right place when the recovery starts, that place may be in Colorado, Idaho, Oregon, Texas or Washington. The recession didn't start at the same time in every state, and it won't end at the same time either. A new forecast from Moody's Economy.com predicts that jobs growth will return first in those five states, starting in the last quarter of this year.
(See the full article here: Jobs May Recover First in Colorado)

Colorado Business Conditions Improve, Goss Index Shows
A monthly indicator of expected business activity in Colorado improved in May to its highest level in several months, Creighton University economist Ernie Goss said Monday in his monthly regional Business Conditions Index survey.
(See the full article here: Colorado Business Conditions Improve, Goss Index Shows)

City of Grand Junction Selected as Large Community of Year
GJEP nominates City based on economic development accomplishments. Each year EDIE awards are given by the Economic Developers Council of Colorado (EDCC) to acknowledge individual, corporate and community contributions to the economic development of Colorado.
(See the full article here: City of Grand Junction Selected as Large Community of Year)

Boulder Named “#1 Town to Live Well” by Forbes
Data came from ZoomProspector.com, a San Francisco-based consulting firm specializing in corporate relocation. It evaluated areas of the country with less than 100,000 people and named Boulder as number one town.
(See the full article here: Boulder Named “#1 Town to Live Well” by Forbes)

Pending Home Sales Increase Nearly 7 Percent
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5.Lawrence Yun, NAR chief economist, says buyers are responding to very favorable market conditions. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market,” he says. “Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.”
(See the full article here: Pending Home Sales Increase Nearly 7 Percent)

MAY 2009
HUD chief sees early signs of housing turnaround
WASHINGTON (Reuters) -- The U.S. housing market is showing some early signs of a turnaround, but its too early to say if a full recovery is underway, Housing and Urban Development Secretary Shaun Donovan said on Wednesday.
(See the full article here: HUD chief sees early signs of housing turnaround)

March sees highest total dollar volume sales in Eagle County
Vail Valley saw the highest total dollar volume of real estate sales of any month so far this year in March, with more than $59.3 million in sales. read more here
(See the full article here: March sees highest total dollar volume sales in Eagle County)

Pending Home Sales Rise, Housing Affordability Near Record
Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82.0 in February, and is 1.1 percent higher than March 2008 when it was 83.7. read more here
(See the full article here: Pending Home Sales Rise, Housing Affordability Near Record)

Colorado's economic future: Positive Change on the Horizon
There are some bright spots for Colorado, beginning to poke through the economic clouds for the year ahead: New job opportunities, green industries, and believe it or not – expansion in banks and investment firms. read more here
(See the full article here: Colorado's economic future: Positive Change on the Horizon)

A Look at Case-Shiller Numbers, by Metro Area
The S&P/Case-Shiller home-price index, a closely watched gauge of U.S. home prices, continued to post declines in February but the pace stopped setting records after 16 consecutive months. Dallas, Denver, Cleveland, Boston and Charlotte managed to avoid double-digit year-over-year declines. read more here
(See the full article here: A Look at Case-Shiller Numbers, by Metro Area)

APRIL 2009
Drop in mortgage rates trigger race to buy, refinance:
Tumbling interest rates are setting off a mortgage-refinancing scramble among homeowners and pulling undecided buyers into the market.
(See the full article here: Drop in mortgage rates trigger race to buy, refinance)

Denver on list of 10 cities where Americans are relocating:
Denver is one of 10 U.S. cities on a new Forbes magazine list of cities where Americans are relocating.
(See the full article here: Denver on list of 10 cities where Americans are relocating)

New home sales in surprise rebound:
Census Report: Sales of newly constructed homes rose unexpectedly in February, rebounding nearly 5% after sinking to the lowest level on record in January, according to a government report released March 25th.
(See the full article here: New home sales in surprise rebound)

Xcel selects SunPower to build solar plant in Alamosa:
Xcel Energy today announced it has selected SunPower Corp. to build North America's second-largest photovoltaic solar-power plant in Alamosa. The 17-megawatt plant would come online by the end of 2010. The project is expected to create about 200 jobs during construction.
(See the full article here: Xcel selects SunPower to build solar plant in Alamosa)

Pueblo approves Southern (Water) Delivery System build:
Pueblo County Commissioners voted unanimously to approve Colorado Springs' proposed Southern Delivery System, which will deliver water from Pueblo reservoir to Colorado Springs.
(See the full article here: Pueblo approves Southern Delivery System build)

Grand Junction Makes Forbes Top 25:
Grand Junction makes the cut! For the first time, Grand Junction has made the Forbes Business Top 25 as one the best small places for business and careers.
(See the full article here: Grand Junction Makes Forbes Top 25)

Mortgage Refinancing May Hit $2 Trillion in 2009:
The Mortgage Bankers Association on Tuesday jacked up its 2009 forecast for mortgage originations to reflect the Fed's recent moves to engineer lower mortgage rates. The group now expects mortgage originations to total $2.78 trillion this year--an increase of more than $800 billion from its previous estimate.
(See the full article here: Mortgage Refinancing May Hit $2 Trillion in 2009)

MARCH 2009
Again, Denver One of Most Desirable Cities to Live:
Researchers at Pew asked Americans what metro areas they would like to live in. Seven of the top 10 were in the West, [such as] Denver… [This is] where you can imagine yourself with a stuffed garage - filled with skis, kayaks, soccer equipment, hiking boots and boating equipment. These are places you can imagine yourself leading an active outdoor lifestyle. read more here
(See the full article here: Again, Denver One of Most Desirable Cities to Live)

Homebuilders a bit more upbeat:
Index shows that builders were slightly more optimistic in February compared to January.
(See the full article here: Homebuilders a bit more upbeat)

Colorado foreclosures fall in 2008 for 1st time in years:
Colorado foreclosure activity fell last year for the first time since the state began collecting data in 2003, according to a report released Monday by the Colorado Division of Housing. read more here
(See the full article here: Colorado foreclosures fall in 2008 for 1st time in years)

S&P: Denver had smallest 2008 home-price decline of 20 U.S. cities:
The monthly S&P/Case-Shiller Home Price Indices said average prices of existing homes in Denver fell 4 percent between December 2007 and December 2008, less than any of the other 19 cities in the report. read more here
(See the full article here: S&P: Denver had smallest 2008 home-price decline)

Weld stands tall among nation's agriculture counties:
LA SALLE - Despite encroaching suburbia, Weld County this year remains among the top 10 places in the nation in agricultural production. A federal census report conducted every five years ranks Weld as the No. 8 agricultural county nationally, with a market value for its products at $1.54 billion. read more here
(See the full article here: Weld stands tall among nation's agriculture counties)

FEBRUARY 2009
Denver Most Desirable City:
The Pew Research Center's new survey says, "Denver is the most desirable city in America!" Forty-three percent of those in the survey say Denver was the city they would most like to live in if they had a choice of living in the nation's top 30 cities. In the top five Denver was followed by Seattle, San Diego, Tampa and Orlando. The bottom five, all east of the Mississippi were Cleveland, Cincinnati, Kansas City, Minneapolis and Detroit.
(See the full article here: Denver Most Desirable City)

Schwab to add 500 jobs in Douglas County:
Charles Schwab Corp. will bring 500 new jobs to Colorado by 2011, Gov. Bill Ritter announced Thursday January 15th at the state Capitol.
(See the full article here: Schwab to add 500 jobs in Douglas County)

Existing-Home Sales Show Strong Gain In December:
Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors® report released January 26th.
(See the full article here: Existing-Home Sales Show Strong Gain In December)

CSU, CU economists - Colorado’s recovery could start as early as summer:
Colorado went through a bad economic year in 2008 and can expect more of the same this year, but there are signs that a recovery could start as soon as summer, a pair of Colorado’s top university business economists agreed Wednesday.
(See the full article here: Colorado’s recovery could start as early as summer)

Creative Foam moving into Longmont:
Creative Foam, a designer and manufacturer of foams and plastics for the automotive, medical, and composite markets, announced in January 2009 that it is leasing 70,000 square feet in Longmont. The Michigan-based company is expanding in Colorado to service Danish wind turbine manufacturer Vestas Wind Systems.
(See the full article here: Creative Foam moving into Longmont)

Fannie Mae to Loosen Refinancing Rules:
Fannie Mae will loosen rules for homeowners seeking to lower their mortgage payments by refinancing. The District company, which accounts for more than 40 percent of the $12 trillion in U.S. residential mortgage debt, is seeking to break a "logjam" in refinancing and allow more homeowners to take advantage of near-record low interest rates, according to Brian Faith, a spokesman for Fannie Mae, which like its rival, Freddie Mac, is under government control. Fannie Mae to Loosen Refinancing Rules )
(See the full article here: Fannie Mae to Loosen Refinancing Rules)

Forbes Rates CO 1st for Labor and Growth, 5th Best for Business:
Forbes Magazine rated Colorado the fifth best state for business in 2008 and ranked Colorado No. 1 for both labor and growth prospects. )
(See the full article here: Forbes Rates CO 1st for Labor and Growth Denver One of Lowest Risk Areas For Price Devaluation:
Denver is one of Only 12 of the nation's 50 Metropolitan areas have a low risk of price declines, according to the PMI Mortgage Insurance companys Winter 2008 Market Risk index.
(See the full article here: Denver Low Risk For Price Devaluation)

JANUARY 2009
Predicting an '09 recovery:
In December, Jim Glassman, a senior economist with JP Morgan Chase in New York, told a select crowd of business leaders gathered in Denver at the Executive Leadership Forum that the economy will recover in 2009. "There’s nothing wrong with the U.S. economy that hasn’t already been fixed," Glassman said.
(See the full article here: Predicting an '09 recovery)

Census: Colorado among fastest growing states:
Colorado was among the five fastest-growing states the year between July 1, 2007, and this July. Estimates release on December 22nd by the U.S. Census Bureau show Colorado, Texas and North Carolina each grew at 2 percent. Colorado's population increased by 96,686, giving it the eighth-largest gain in the country.
(See the full article here: Census: Colorado among fastest growing states)

Denver Aims to Ride Out the Recession:
Mr. Nichols, the president of the Nichols Partnership, a commercial real estate developer, spoke at the Rocky Mountain Commercial Real Estate Expo about why he would be stupid enough to build 500 housing units during a national economic downturn. It isn’t that Denver expects to avoid rough economic seas, but there is a sense that leaders here have constructed an ark on which to weather just such a storm. A number of elements are cited as keeping this region afloat as other areas founder: investments in public transportation, aggressive economic development and, most significant, a two-decade campaign to diversify the region’s economic base from oil and gas to alternative energy, aerospace, technology and telecommunications. (New York Times)
(See the full article here: Denver Aims to Ride Out the Recession)

Lower rates spark refinancing mortgage boom:
Anderson, a retired engineer with a little more than $120,000 left on his mortgage for his Lakewood home that has been appraised for $350,000, got his wish late last week and exchanged his old rate of 6.375 percent for the new 30-year fixed loan of 4.75 percent.
(See the full article here: Lower rates spark refinancing mortgage boom)

Xcel, Vestas put state on wind power map:
It’s one thing to be among the top wind-power-producing states. It’s another thing to be a top manufacturer of wind turbines that are used by all wind power states. Xcel Energy, Colorado’s biggest utility, and Danish company Vestas have put Colorado on the wind power map. The utility in 2007 retained its No. 1 status in wind-generated electricity for the third year in a row. By 2010, Vestas plan to spend $680 million at its Colorado plants and employ 2,450.
(See the full article here: Xcel, Vestas put state on wind power map)

Telluride Makes Top 10 List for Clean Air:
Telluride came in 6th in the latest “State of the Air” report by the American Lung Association.
(See the full article here: Telluride Makes Top 10 List for Clean Air>

Home sales increase in West:
The western U.S. region, including Colorado, was the only area of the country to have an increase in sales of existing homes — nearly 18 percent — from November 2007 to the same month this year, according to data released by the National Association of Realtors on December 23rd.
(See the full article here: Home sales increase in West)
DECEMBER 2008
Home-price index 'positive' for Denver area
Home values in the Denver area dipped 5.4 percent in the year ending in September, far better than the 17.4 percent drop for the 20 cities tracked in the closely monitored S&P/Case-Shiller Home Price Indices released on Tuesday. "I think Denver is going to lead (the nation) out of the doldrums," said Jack O'Connor, principal of the Prestige Real Estate Group in Denver.
(See the full article here: Home-price index 'positive' for Denver area)

MarketWatch ranks Denver No. 3
The ranking, released Tuesday by MarketWatch, puts the Denver area at No. 3 this year, behind No. 1 Minneapolis-St. Paul and No. 2 Boston. MarketWatch considered such criteria as the number of companies in metro areas on four lists: the Fortune 1000, Forbes private companies, the S&P 500 and the Russell 2000. The companies are counted and averaged against an area’s population. Population and job growth also were considered, as were unemployment figures.
(See the full article here: MarketWatch ranks Denver No. 3)

Lockheed wins $1.1B NASA contract
Lockheed Martin Space Systems Co. won a NASA contract worth up to $1.1 billion to build a pair of sophisticated weather satellites for the National Oceanic and Atmospheric Administration, the company reported Tuesday. The Littleton-based company is a division of defense and aerospace giant Lockheed Martin Corp.
(See the full article here: Lockheed wins $1.1B NASA contract)

Grand Junction Prospect Activity Heats Up
The Grand Junction Economic Partnership (“GJEP”) announces that prospect activity for the year remains strong. The prospect activity, or companies expressing interest in doing business in the Grand Junction area, has spiked since the conclusion of a long election season. GJEP reports a 50% increase in prospect activity post election.
(See the full article here: Grand Junction Prospect Activity Heats Up)

Snowmass $1B base village now showing signs of activity
The first phase of the $1 billion new base village at the foot of the Snowmass ski mountain in Aspen started opening this fall. The 60,000-square-foot village will include more than two dozen stores and restaurants as well as hotels and housing.
(See the full article here: Snowmass $1B base village now showing signs of activity)

Denver's Inventory hit 2 year low and prices trended up 20%.
If you were going to bet on a real estate market to come back, sooner and not later...The Denver Real Estate Market has the statistics to lead the way out.

According to HousingTracker.net, the below charts show the continued improving housing market in the Metro Denver area. Single Family and Condo inventory is down 22% and prices are up 20%. This works in conjunction with reports from The Urban Land Institute as having Denver in it's top ten markets nationwide as well as in it's emerging Trends Real Estate 2009, dated October 21, 2008:

"Denver: The state capital has a major federal government presence, which should buffer job losses. Steady population growth and broadening diversification of the industry keeps the housing market stable. Mass transit should pay future dividends."
(See the full article here: Denver's inventory hits 2 year low and prices trend up 20%)

Upscale buyers are flocking to Cherry Creek
...the tony neighborhood that’s home to Neiman Marcus and the Cherry Creek Arts Festival, one of the country’s top urban arts fairs. Here, prices leaped 16 percent in the past year, according to Integrated Asset Services, an firm specializing in mortgage investments. The area’s popularity illustrates a common theme in U.S. housing markets: established, close-in neighborhoods are often holding up better than suburbs, because they didn’t endure overbuilding and because higher-income owners were less likely to need subprime or adjustable-rate mortgages.

Cherry Creek’s success also highlights the strength of the envy factor. In a recent Coldwell Banker survey of luxury homeowners, 17 percent said they’ve considered moving to get into a certain address or zip code—a reminder that the lure of prestige or good schools moves homes even in a shaky economy. Cherry Creek’s 80206 zip code may be Denver’s ritziest—as seen in the new development North Creek, which features a mix of million-dollar tower condos and brownstones along with a private garden courtyard, à la New York’s Gramercy Park.
(See the full article here: Home Prices: Now for the Good News)
Denver Among Top 10 Real Estate Markets
(Nov. 3, 2008) The Urban Land Institute named metro Denver one of its top 10 real estate markets to watch next year, in its Emerging Trends in Real Estate 2009 report released Oct. 21.

The report, which is based on the insights and predictions of real estate experts nationwide, cited this market’s pluses as a major federal government presence that “should buffer job losses,” as well as steady population growth. Greater diversification of industries in the metro area and a mass transit system that “should pay future dividends” also are positives for Denver-area real estate, the report said.

Metro Denver also made last year’s Emerging Trends top six markets to watch for 2008.
(See the full article here: ULI ranks Denver among top 10 real estate markets)

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