Average Sold Price Up 5.5%. Combined MLS Residential Absorption Rate is at 5.1 months - a 9.9% reduction. (Metrolist)
Home sales rise 9.4% in September. Home resales rose nationally in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires. (USA Today)
Edie Marks sells Cherry Hills home for $6.7 million. The 16,000-square-foot, six-bedroom home on 5.25 acres is the former estate of golf pro Craig Stadler. The seller was Debra Toney, a local designer and architect, who gave the house a significant makeover. "The buyer was born in France, and he said the really lush acres reminded him of the French countryside," said Marks, who declined to name the buyer. Asking price for the property was $6,995,000. "I do believe every house has the right buyer, even in this economy," said Marks. (Denver Post)
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. read more here
Denver home prices rise for sixth straight month. August marked the sixth consecutive month that Denver-area home prices rose. Area housing prices were up 1% compared with July, but down 1.9% compared with August last year, according to the Standard & Poor's/Case-Shiller home-price index.
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. read more here
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. read more here
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. read more here
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. read more here
Momentum for a new school at Stapleton grows
Foreclosure filings drop in Denver area
Tax Credit Extension Seems Likely
