The General Assembly is considering a ban on a practice that is making at least one company millions: private transfer fees attached to real estate. Private transfer fees, usually between 1 and 3 percent of a property’s value, are added to a property and assessed every time it is sold for up to 99 years. […]
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The level of outstanding commercial and multifamily mortgage debt grew by 3.4 percent during the second quarter of this year, according to the Mortgage Bankers Association’s Federal Reserve Board Flow of Funds data. The 3.4 percent increase brings the total debt to about $3.1 trillion, an increase of $103.8 billion from the first quarter. Multifamily […]
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A local agency is bringing together contractors and community members to build new homes for low-income families in the region. No, ABC is not filming an episode of Extreme Home Makeover in Colorado. Rather, it’s another unique loan program from the US Department of Agriculture that offers home ownership to the working poor while building […]
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Following are the most expensive foreclosures in El Paso County for the week of Sept. 16.
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Colorado Springs has seen a less active year for real estate, but it was back in 2000, according to the latest figures from Public Trustee Tom Mowle. Mowle reported that there were just 2,454 deeds released in October. Deeds are released when someone sells a home, refinances or pays off a mortgage, which Mowle has […]
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The ITT Corp.’s Systems Division will lease 75,000 square feet in Corporate Office Properties Trust’s Patriot Park, at 655 Space Center Drive. The 180-acre office park is located at the intersection of Powers Boulevard and Highway 24 next to Peterson Air Force Base. Based in Colorado Springs, ITT’s Systems Division provides systems support and technical […]
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Third-party investors bought three of 21 properties that sold at the El Paso County Public Trustee’s foreclosure auction this week. Old West Land Company bought an almost 1,400-square foot 2003 townhouse at 4373 Prestige Point for $100,518.20. The property, formerly owned by Samuel Levy is valued at $138,738 by the El Paso County Assessor. Levy […]
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Ask any business executive about current economic conditions and you’ll hear a roll call of market illnesses that share the same symptom: uncertainty. There is no justification to hire when bottom-line growth is primarily a result of cost-cutting and layoffs, no reason to expand when talk of double-dip recession won’t die down, and it can […]
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Everyone likes the concept of one-stop shopping: get your gas, groceries and garbage bags at one superstore. That is the concept a group of already successful business owners put to work when they formed Office Now. Office Now combines communications, office furniture, copiers and printers, and even office space in one stop. IT Communications, Facilitek, […]
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One country’s distress may be another’s opportunity. While the U.S. real estate market has seen double-digit price decreases along some parts of the west coast, Florida or Las Vegas, European investors are keeping an eye on prime American real estate. One new Colorado luxury project, for example, recently made its way to a Danish investors’ […]
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Home prices in major U.S. cities rose in May for the second straight month, propped up by a flurry of spring buyers. But after adjusting for such seasonal factors, prices fell in a majority of markets. The Standard & Poor’s/Case-Shiller home-price index released Tuesday showed that prices rose in 16 of the 20 cities tracked. […]
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As recently as a year ago, a developer who wanted to complete a project in El Paso County had to hand-carry an application composed of dozens of documents to the county Planning and Community Development Department. Now, using the department’s Electronic Development Application Review Program, developers, builders, commercial and industrial businesses, and other landowners can […]
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