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July 16, 2011
Home Market Boasts Record 22.5% Gain
Home-buying contracts in the Denver-area soared by a record 22.5 percent last month from June 2010, as the market rebounded without last year's tax credits skewing year-over-year comparisons. There were 4,751 homes placed under contract in June, compared with 3,885 in June 2010. The percentage increase is the largest June-over-June increase on record, said Gary Bauer, who released a monthly housing report based on Metrolist data.
Seinfeld's Telluride Home Hits the Market
America's favorite funny man, the stand-up comedian who starred in his hit show about "nothing" from 1989 to 1998, has placed his Telluride spread on the market – not that there's anything wrong with that. His real estate agent isn't saying why Jerry is selling. The property is listed at $18.25 million.
Koebel Sells Out Parker Project Over 4th of July Weekend
Not many home communities sell out in one weekend in this tough housing market, but that is what recently happened at the Hunter's Chase condo development in Parker.
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Colorado Gets $12 Million in HUD Funding
July 12, 2011
U.S. Department of Housing and Urban Development Secretary Shaun Donovan today awarded $12.09 million to Colorado public housing authorities. The Denver Housing Authority was the single biggest recipient, getting $5.73 million of the funding, which allows agencies to make major large-scale improvements to their public housing units.
Is a Home a Lousy Investment?
July 11, 2011
The headline on the Wall Street Journal op-ed piece left little doubt on the author's take on the investment appeal of a house: A Home is a Lousy Investment. The Opinion-page article by Robert Bridges, a professor of clinical finance and business economics at the University of Southern California's Marshall School of Business, said that investing in the stock market, hands down beats buying and owning a home based on historic returns.
TAXI Fully Leased
July 11, 2011
Zeppelin Development's TAXI development in the River North, or RiNo area at the edge of downtown Denver, is now fully leased, the developer announced today. "TAXI is now 100 percent occupied by more than 60 tenants, totaling 180,000 square feet in four buildings," said Kyle Zeppelin, principal of the namesake firm. "We are actively working on at least two significant new projects on the site to keep up with demand."
Coors Buys Country Club Home
July 11, 2011
There was an interesting item in today's Denver Post Real Estate Home Sales listings – Peter Coors and his wife, Meredith, bought a home in Country Club for $2.1 million.
WSJ: Quiznos Near Default, Seeking Options
July 9, 2011
The Wall Street Journal today reported that Denver-based Quiznos, the sandwich chain that got its start 30 years ago with its first store in Capitol Hill, has hired law firms and investment banks to determine how to restructure its finances.
Two Colorado Banks Closed Today
July 8, 2011
Two banks were closed today in Colorado by the Colorado Division of Banking, which appointed the Federal Deposit Insurance Corp. as receiver for both of them.
U.S. News Names 10 Best Cities for Public Transportation
May 31, 2011
Because it makes navigating cities easier, more affordable and more environmentally friendly for attendees, public transportation often is a major consideration when meeting planners are choosing destinations. If you're looking for a city that's as accessible as it is attractive, you might be interested in a list of the "10 Best Cities for Public Transportation," published recently by U.S. News and World Report.
Based on an analysis of data from the Federal Transit Administration (FTA) and the American Public Transportation Association (APTA) — which says the number of public transportation systems in the United States has increased more than sevenfold in the last 30 years, from 1,044 in 1980 to 7,700 in 2009 — the best cities in the country for public transportation are:
1. Denver-Aurora, Colo.
2. New York-Newark, N.Y.-N.J.-Conn.
3. Los Angeles-Long Beach-Santa Ana, Calif.
4. Boston, Mass.-N.H.-R.I.
5. Portland, Ore.
6. (tie) San Jose, Calif.
6. (tie) Salt Lake City, Utah
8. San Diego, Calif.
9. Seattle, Wash.
10. Honolulu, Hawaii
Other major cities ranked were Washington, D.C., which ranked 11th; San Francisco, which ranked 13th; and Chicago, which ranked 14th. Though all three of these systems had relatively high ridership and public investment, U.S. News said, they also experienced far more safety incidents — such as collisions, derailments and fires — per million trips than the cities in the top 10.
The rankings take into account per capita spending on public transportation, number of safety incidents per million trips and the number of trips taken per capita. Cities with higher spending, fewer incidents and greater ridership received better rankings.
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