Wednesday, June 13, 2012
Clippings, April-May 2012
Denver Post, May 24:
Vacancies in Denver-area rental houses at historic lows
Vacancies in for-rent condos, single-family homes and other small properties across metro Denver rose slightly during the first quarter although the market remained tight with a vacancy rate of 1.6 percent.
"The vacancies we do see are due to little more than turnover, so this tells us that most of the metro area rental homes are filling up, and are doing so rather quickly," said Ryan McMaken, spokesman for the Colorado Division of Housing.
Denver Post, April 27:
Colorado foreclosure auction sales down 25% in first quarter
"Foreclosure activity continues to trend down in Colorado, even when compared to early 2011 which itself saw a big drop from the 2010 totals," said Ryan McMaken, spokesman for the Colorado Division of Housing.
"Toward the end of 2011, we saw employment and home prices stabilize while home buying appeared to increase, so these foreclosure numbers likely reflect those factors," said McMaken.
Sharp drop in Colorado foreclosures in Q1
“Foreclosure activity continues to trend downward in Colorado, even when compared to early 2011, which itself saw a big drop from 2010 totals,” Ryan McMaken, spokesman for the Colorado Division of Housing, said in the report. “Toward the end of 2011, we saw employment and home prices stabilize, while home buying appeared to increase, so these foreclosure numbers likely reflect those factors.”
Denver Business Journal, May 10:
Home/condo vacancy rate is at 1.6 percent
“With a vacancy rate below 2 percent, you’re essentially dealing with 100 percent occupancy,” Ryan McMaken, division spokesman, said in a news release. “The vacancies we do see are due to little more than turnover, so this tells us that in most of the metro area, rental homes are filling up and are doing so rather quickly.”
Colorado Springs Gazette, April 26:
Foreclosure activity slows in Pikes Peak region during 1st quarter
“Several mountain counties are still dealing with growth in foreclosure activity, and may not have peaked yet,” Housing Division spokesman Ryan McMaken said in a statement accompanying the report. “The Front Range, however, which drives the overall statewide totals, looks like it peaked back in 2010.”
Denver Post, March 15:
Vacancies scarce in rental houses in metro area, rents rise
Ryan McMaken, spokesman for the the Division of Housing, said that although the vacancy rate went up slightly year-over-year, "that doesn't mean much because when you're looking at vacancy rates below three percent, the bottom line is that the market is tight. "For many people, it's not easy to buy a house right now, so they're renting," he said.
Denver Business Journal, March 14:
Foreclosure sales at 5-year low in Colorado urban counties
“Foreclosure auction sales have now been down 13 of the last 14 months, comparing year over year, and this continues a trend of diminished foreclosure filings that we’ve been seeing since the fall of 2010,” Ryan McMaken, a spokesman with the Colorado Division of Housing, said in a press release.
“On the other hand, filings were up a bit in February compared to last year, and this may reflect a renewed effort by lenders to process foreclosures in the wake of the recent legal settlement with the states and the feds,” he said. Fort Collinsn Coloradoan, February 24: Fort Collins/Loveland vacancy rates down; rents up The Coloradoan Few cities were prepared for the shift because they were so focused on single-family home construction, McMaken said. But's that no longer the case.