New office park for Littleton
Stanisz Development is behind the design and construction of a new industrial office park within Littleton’s Hilltop/Southpark neighborhood. Called Hilltop Mesa, the office park will be built on one of the few vacant parcels remaining along the South Santa Fe Drive business corridor. The 5.5-acre project is expected to feature four buildings ranging from 8,200 square feet to 18,200 square feet. The park is slated for occupancy next year.
Young homebuyers raise the bar
Generation X-ers and echo boomers are wielding significant home-buying power and pressing for more space and more sophisticated amenities than did their forebears. Gen X-ers those between 27 and 40 headed 28 percent of households across the nation in 2003 but made 49 percent of the new-home purchases that year, according to the U.S. Commerce Department. Echo boomers, those born after 1979, snapped up another 6 percent of new homes in 2003. In their next house, younger buyers want at least four bedrooms; ceilings at least 9 feet high; and wiring that accommodates a home theater, automated lighting and a built-in security system, according to a survey of consumer preferences conducted by the National Association of Home Builders.
Top real estate brokers
Twenty Colorado residential real estate brokerages are ranked among the nation’s 500 largest brokers, according to real estate analysis firm Real Trends Inc.
Brokerages were ranked by the number of transactions they completed last year. Among those landing on the list: Re/Max Alliance, Arvada, No. 33 with 12,032 sales; Prestige Real Estate Group, Englewood, No. 191 with 3,454 sales; Home Real Estate, Centennial, No. 216 with 3,109 sales; The Kentwood Co., Greenwood Village, No. 223 with 2,973 sales; Re/Max Horizons Group, Broomfield, No. 250 with 2,694 sales; Re/Max of Pueblo, No. 254 with 2,646 sales; Re/Max Southeast, Denver, No. 291 with 2,347 sales; Prudential Professional Realtors, Colorado Springs, No. 342 with 2,058 sales; Re/Max Masters, Englewood, No. 345 with 2,045 sales; Re/Max of Boulder, No. 380 with 1,862 sales; ERA Shields Real Estate, Colorado Springs, No. 406 with 1,698 sales; and Re/Max 4000, Grand Junction, No. 427 with 1,670 sales.
Mortgage rates continue downward trend
National rates on 30-year mortgages fell last week for the eighth time in the past nine weeks, hitting the lowest level in four months, mortgage giant Freddie Mac said Thursday. Rates on 30-year, fixed-rate mortgages averaged 5.62 percent, down from 5.65 percent for the week ended May 26. Below are average mortgage rates in Denver, Adams and Arapahoe counties as of Thursday and the previous 52 weeks. The one-year Treasury-bill average reported by the Federal Reserve Bank is 3.32 percent. The Cost of Funds Index for April from the Federal Home Loan Bank (11th District) was 2.515 percent.
