Ex-Rockie to auction mansion
Former Colorado Rockies pitcher Mike Hampton is auctioning his Evergreen mansion – complete with 40-foot waterfall, equestrian center and a gymnasium that features a half-court basketball court and a juice bar. The 30-acre property was previously listed for $4.95 million, but at 11 a.m. Monday it will be auctioned to the highest bidder regardless of price. No minimum bid or reserve is required. Hampton, who now pitches for the Atlanta Braves, said in a statement that he chose to sell by auction because “a home this size can take years to sell the conventional way.” J.P. King Auction Co. in Gadsden, Ala., will manage the sale. For more information about the property, visit www.jpking.com.
KB Home development
KB Home plans to build 252 homes near Interstate 25 and E-470. The development will be called the Village at Centennial and will feature two- to four-bedroom duplexes and townhomes ranging from 1,364 to 1,739 square feet. Prices will start around $210,000. The development’s first residents are expected in April.
Hospital secures loan
Brighton’s Platte Valley Medical Center expects to save about $32 million in interest payments over the life of a $111.8 million loan it has secured to build a new 70-bed facility. The mortgage is insured by the U.S. Department of Housing and Urban Development under the backing of a Federal Housing Administration mortgage insurance program. The facility will open late next year and will replace the 58-bed hospital.
Mortgage rates resume their decline
National rates on 30-year mortgages resumed their decline last week, falling for the 10th time in the past 12 weeks. Mortgage giant Freddie Mac said Thursday its weekly survey showed that rates on 30-year, fixed-rate mortgages averaged 5.57 percent, down from 5.63 percent the week ended June 16. It was the second-lowest level recorded this year. 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 3.39 percent. The Cost of Funds Index for April from the Federal Home Loan Bank (11th District) was 2.515 percent.
