Tuesday, October 24, 2017 / by Jester Rafols
$350 million in new commercial projects broke ground along I-25 in Thornton this year
At the groundbreaking event for its forthcoming outlet mall in the city, officials with Simon Properties — which claims to be the largest owner of retail real estate in the world — endeavored to answer the question “Why Thornton?”
“Frankly, it’s not really a difficult answer,” said Danielle De Vita, Simon’s executive vice president of real estate. “Aside from this amazing site, … Thornton and the Denver metro area are truly noteworthy on a national scale in regards to economic growth.”
De Vita listed a population that has boomed since 2000, strong job growth and the availability of a blockbuster site right at the Interstate 25-136th Avenue interchange as nuggets that convinced Simon that the north metro city was the place for its 330,000-square-foot Denver Premium Outlets, set to open late next year and bring 800 j ...
Monday, October 02, 2017 / by Jester Rafols
Lenders reportedly are loosening their standards to qualify for a mortgage. Fannie Mae’s third-quarter 2017 Mortgage Lender Sentiment Survey shows the main reason behind the easing of credit has been the increased competition that lenders are feeling.
Across all loan types—GSE-eligible, non-GSE-eligible, and government—lenders reported easing credit standards over the last three months. Further, the net share of lenders who say they expect to ease credit over the next three months reached a survey high of 18 percent.
"Lenders further eased home mortgage credit standards during the third quarter, continuing a trend that started in late 2016,” says Doug Duncan, senior vice president and chief economist. “In particular, both the net share of lenders reporting easing on GSE-eligible loans for the prior three months and the share expecting to ease standards on those loans over the next three months increased to survey highs. Lenders' comments suggest that com ...
Saturday, September 02, 2017 / by Jester Rafols
For the fifth straight month, year-over-year average gains in home-resale prices across metro Denver eased in June from the previous month's pace.
That's according to the latest S&P/Case-Shiller Home Prices Indices report, released today.
Home prices are still rising in metro Denver at a pace faster than most cities, the closely-followed monthly report series indicates. But the pace of that increase has been slowing gradually since January.
Metro Denver's average home resale prices were up 7.6 percent in June from a year earlier, today's report says.
That follows year-over-year gains of 7.9 percent in May, 8.2 percent in April, 8.4 percent in March, 8.5 percent in February and 9.2 percent in January, as relayed in previous reports.
Still, June's gains from a year earlier outpaced the average price increase for 20 major cities tracked by Case-Shiller of 5.7 percent. The national gain was 5.8 percent.
The only major metros to see greater year-over-year gains in June were Se ...
Thursday, August 31, 2017 / by Jester Rafols
After a slight slowdown during the peak of summer, several important new projects broke ground in August.
The largest new building to get underway this month was Lockheed Martin Corp.'s $350 million satellite facility, located on its campus in Jefferson County.
The 266,000-square-foot Gateway Center is expected to be complete in 2020 and employ 1,500 people over the course of three years.
And in RiNo, the future headquarters of Lakewood-based HomeAdvisor got started at 3601 Walnut St. Beacon Capital Partners' HUB project will add 250,000 square feet of class A office space to RiNo, 70,000 square feet of which will be occupied by HomeAdvisor. Another 25,000 square feet in the HUB will be retail space.
Also new to Crane Watch is the 2.4 million-square-foot Amazon facility at I-25 and 144th Avenue in Thornton. The project is being developed by the Denver operations of Houston-based Trammell Crow Co.
And in residential projects, Nava Real Es ...
Friday, August 11, 2017 / by Jester Rafols
Mortgage financing giant Freddie Mac will begin this fall to tighten restrictions on low down payment mortgages that allow borrowers to only contribute 1 percent of the home’s purchase price. Borrowers will now be required to come up with at least 3 percent in order to then receive any contribution from a lender.
Freddie Mac and Fannie Mae started the low down payment offerings in 2014 by rolling out 3 percent down mortgages. Some lenders—like Quicken Loans and Guaranteed Rate—then rolled out mortgages with down payments as low as 1 percent. With those programs, the lender “granted” 2 percent of the down payment to the borrower and added that to the borrower’s 1 percent contribution. They then arrived at the 3 percent needed to qualify for a Fannie or Freddie low down payment mortgage. Under the new guidelines, however, such ways to arrive at 3 percent down payment will no longer be permitted.
“Gifts or grants from the seller as the origi ...