...
Ryan McMaken, spokesman for the Colorado Division of Housing, said that apartment rents in the Fort Collins-Loveland area rose to an average of $996 in the second quarter of this year, the most recent period for which data is available.
That's higher than the $979 for the Denver metro area, which traditionally has the state's highest rents.
McMaken noted that the figures are for metro areas only. "Fort Collins-Loveland is probably not higher than Aspen," he said.
...
"It looks like the two are converging again, so they could reverse themselves," McMaken said. "They have similar rents now because they're the two markets with the most growth and the lowest vacancies."
McMaken said the vacancy rate in Fort Collins-Loveland was 3.5 percent in the second quarter, close to the 3 percent figure that is considered "very low." Denver's vacancy rate in the second quarter was 4.8 percent.
"There's been a ton of new construction in Loveland, and that area has a lower unemployment rate than Denver — substantially lower, in fact," McMaken said.
Friday, October 19, 2012
Fort Collins-Loveland metro area has highest apartment rents in state
Fort Collins-Loveland metro area has highest apartment rents in state (Denver Post, 10/19/2012)
Monday, October 1, 2012
Coloradoan article on homeownership
Home ownership: An American dream in decline (9/1/12)
While home ownership rates have fluctuated, they are retreating to more reasonable levels before a spike in the early 2000s — levels Weiler called “an aberration.” Ryan McMaken, spokesman for the Division of Housing in the Colorado Department of Local Affairs, agreed home ownership is not going away, just stabilizing. Rates “were at unsustainable numbers for awhile,” he said. Back in the ’60s when the country experienced real wealth growth, home ownership topped out at 65 percent, he said.
In the ’90s, numbers jumped again when “more people were able to get into more homes by adopting more debt,” he said. “It wasn’t part of a larger issue where income was growing so everyone was running around buying houses.” And it’s likely the rate will go up again as rental units shrink and rents rise, McMaken said. “Eventually rents will get so high due to low vacancies people will become very interested in buying,” he said. “That will drive up sales prices then we will see owners of single-family rentals begin to sell them rather than rent them out.”
Denver Post, September 2012
Foreclosures up 4 percent in Colorado metro counties (9/21/12)
"With all of the slowdowns and administrative delays that pushed foreclosure filings down so far last year, I expected a larger increase in filings this year," said Ryan McMaken, a spokesman for the Colorado Division of Housing. "Instead, new foreclosures are only up slightly this year, while completed foreclosures really dropped off, reflecting last year's big drop in new filings."
Thursday, August 30, 2012
The DBJ on rents, August 2012
The DBJ on rents:
Meanwhile, vacancy rates statewide fell to an average of 4.9 percent in the six metro areas tracked by the report. That rate is the lowest statewide average since 2001, when a 4.3 percent rate was logged in the first quarter. Vacancy rates below 5 percent are considered a tight market.
“We’re now seeing signs of the kind of general rent growth across all metros that we haven’t seen since 2008,” Ryan McMaken, spokesman with the Colorado Division of Housing, said in a statement. “Limited supply is an issue. New units are on the way, but there’s a lag on that, and some metros aren’t seeing much new construction at all.”
DP reports on the market effects of fires
The DP reports on the market effects of fires:
According to Ryan McMaken, Community relations director for the Colorado Division of Housing, many people displaced by the High Park and Waldo Canyon fires might soon be looking to snap up single-family rentals.
Although that expected surge probably won't affect the official vacancy rates for next quarter — the survey's sample size is so large, and single-family homes aren't taken into account when calculating rental-vacancy rates — McMaken said rental prices in areas close to where the homes burned will probably be driven up.
"I would assume, since most of them are losing their homes in a certain area, they're going to want to be near that in the process of rebuilding," McMaken said. "However, they might have a hard time locating a specific kind of property they need. If they have animals, that means there can be a small amount of properties in demand for the next year or 18 months.
"It's going to have an effect, but it's going to be limited and show up in a limited way in our larger metrowide numbers," McMaken added.
Colorado Daily, August 7
The Colorado Daily did a nice piece on rental in Boulder recently:
Ryan McMaken, of the Colorado Division of Housing, said a survey taken on June 10 revealed a zero vacancy rate for properties in Boulder's campus area -- including rentals between Pearl Street and Baseline running north and south; and Pleasant View Road and Fourth Street going east and west.
"It's pretty rare to see something this low," McMaken said, noting that Boulder has not had a vacancy rate of zero since at least 1994.
My 4:40 AM interview with 9News
I did an interview around 5:30 this year with 9News, but this one was the earliest yet: 4:40 AM. When it's that early, they let you do it by phone.
Fortunately, they re-use the footage later because, well, who is up watching the news at this hour?
Fortunately, they re-use the footage later because, well, who is up watching the news at this hour?
Thursday, August 2, 2012
9News interview on foreclosures: August 2, 2012
Today's 9News interview. Gregg Moss was very kind to have me on again this morning.
http://www.9news.com/video/default.aspx?bctid=1767637374001
http://www.9news.com/video/default.aspx?bctid=1767637374001
AP picks up my foreclosure story today
Some great coverage today of my foreclosure report:
Boulder County has low foreclosure rate
Boulder County Business Report - 2 hours ago
DENVER - Boulder County had the lowest home foreclosure rate of any metro county in Colorado in the first quarter of 2012, according to a report released Thursday from the Colorado Division of Housing. Boulder County reported a foreclosure rate of one ...
Q2 foreclosure auction sales drop from one year ago
Bizjournals.com - 3 hours ago
Foreclosure auction sales in Colorado
in the second quarter hit their lowest level since 2007, with 3784
completed auctions, down from 5333 in the second quarter last year,
according to a report released Thursday by the Colorado Division of Housing.
Colorado Foreclosure Auction Sales Down
CBS Local - 4 hours ago
According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...
Colorado Foreclosure Auction Sales Down
KKTV 11 News - 4 hours ago
DENVER (AP) -- New foreclosure auction sales were down 26 percent in Colorado during the first half of 2012 compared to the first half of 2011. According to a report released Thursday by the Colorado Division of Housing, auction sales during the second ...
Foreclosure-auction sales down 26 percent in Colorado
9NEWS.com - 4 hours ago
DENVER - The Colorado
Division of Housing says auction sales during the second quarter hit
the lowest level reported since the Division began compiling foreclosure data five years ago. There were 3784 foreclosure auction sales, or completed foreclosures, ...
Foreclosure auction sales down 26 percent in CO
9NEWS.com - 4 hours ago
DENVER - The Colorado
Division of Housing says auction sales during the second quarter hit
the lowest level reported since the Division began compiling foreclosure data five years ago. There were 3784 foreclosure auction sales, or completed foreclosures, ...
Colorado foreclosure auction sales down
KKCO-TV - 4 hours ago
According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...
Colorado foreclosure auction sales down
CBS News - 5 hours ago
According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...
Colorado foreclosure auction sales down
MSN Money - 5 hours ago
According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...
Colorado Foreclosure Auction Sales Down
KMGH Denver - 5 hours ago
According to a report released by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...
Colorado foreclosure auction sales down
Ventura County Star - 6 hours ago
According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...
Colorado foreclosure auction sales down
Northern Colorado 5 - 6 hours ago
According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...
Colorado foreclosure auction sales down
KGWN - 6 hours ago
According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter hit the lowest level reported since the division began compiling foreclosure data in 2007. There were nearly 3800 foreclosure auction sales, ...
Colorado foreclosure auction sales drop during second quarter
The Republic - 6 hours ago
DENVER — New foreclosure auction sales were down 26 percent in Colorado during the first half of 2012 compared to the first half of 2011. According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter ...
Foreclosure auction sales down in Colorado
Denver Post - 6 hours ago
New foreclosure auction sales were down 26 percent in Colorado during the first half of 2012 compared to the first half of 2011. According to a report released Thursday by the Colorado Division of Housing, auction sales during the second quarter of 2012 hit ...
Foreclosure sales fall sharply in area, state
Colorado Springs Gazette - 7 hours ago
The number of troubled properties in the Pikes Peak region that were auctioned off after falling into foreclosure dropped sharply in the first half of this year, which follows a statewide trend, according to a Colorado Division of Housing report released Thursday.
Tuesday, July 3, 2012
Clippings, June 2012
Denver Post, June 15: "
"Colorado's completed foreclosures hit five-year low in May"
"Foreclosure auction sales have now been down 19 of the last 20 months, comparing year over year, and for now, we can say fewer people have been losing their homes to foreclosure this year when compared to other years since 2007," said Ryan McMaken, spokesman for the Division of Housing.
"On the other hand, filings continue to rise, and since some of those filings will turn into re-possessed homes in the future, we can see that foreclosures haven't gone away yet."
Denver Business Journal, June 15: "
"Colorado urban foreclosure sales down, but filings up, in May"
“Foreclosure auction sales have now been down 19 of the last 20 months, comparing year over year, and for now, we can say that fewer people have been losing their homes to foreclosure this year when compared to other years since 2007,” Ryan McMaken, spokesman with the Colorado Division of Housing, said in a news release. “On the other hand, filings continue to rise, and since some of those filings will turn into repossessed homes in the future, we can see that foreclosures haven’t gone away yet.”
"Colorado's completed foreclosures hit five-year low in May"
"Foreclosure auction sales have now been down 19 of the last 20 months, comparing year over year, and for now, we can say fewer people have been losing their homes to foreclosure this year when compared to other years since 2007," said Ryan McMaken, spokesman for the Division of Housing.
"On the other hand, filings continue to rise, and since some of those filings will turn into re-possessed homes in the future, we can see that foreclosures haven't gone away yet."
Denver Business Journal, June 15: "
"Colorado urban foreclosure sales down, but filings up, in May"
“Foreclosure auction sales have now been down 19 of the last 20 months, comparing year over year, and for now, we can say that fewer people have been losing their homes to foreclosure this year when compared to other years since 2007,” Ryan McMaken, spokesman with the Colorado Division of Housing, said in a news release. “On the other hand, filings continue to rise, and since some of those filings will turn into repossessed homes in the future, we can see that foreclosures haven’t gone away yet.”
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.
Tuesday, June 5, 2012
9News on single-family rents
KUSA - Our recovering Colorado economy means it's very much a landlord's market on the rental front. That's what a new report from the Colorado Division of Housing is showing.
We spoke with Ryan McMaken of the Colorado Division of Housing. He said 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 very tight with a rate of 1.6 percent.
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