2 Colo. projects lauded
Two Colorado residential projects have received Builder’s Choice Awards from Builder, the magazine of the National Association of Home Builders.
Garden Crossing, right, developed by Peak Properties on the north side of Boulder, was honored for its focus on affordability for townhouses under 2,000 square feet. DTJ Design of Boulder designed energy-efficient town-homes and carriage units. A 1920s home at 100 Dexter received a merit award for a whole-house makeover. Semple Brown Design of Denver was the architect, Spectrum General Contractors of Denver was the contractor, and Phase One Landscape of Denver was landscape architect.
Adult community’s phase 1 finished
Models and landscaping for the first phase of the Longmont EastGate community for active adults has been completed. When completed, it will have nearly 400 homes ranging from 1,257 square feet to nearly 2,000 square feet. Prices will be from about $295,000 to $395,000. Boulder County-based Ithaca Builders opened the mixed-use neighborhood for adults 55 and older 2 miles east of downtown Longmont, donating 13 acres of its 104-acre parcel to Longmont for the expansion of Hamm Pond Nature Area and improvements to East 17th Avenue.
Real estate focus of Hungarian visit
A group of Hungarian real estate agents will visit Denver this week on a trade mission sponsored by the National Association of Realtors. The objective is to introduce the Hungarian Real Estate Association to procedures and practices of Colorado real estate agents and developers and to exchange information on opportunities for investments and joint ventures. Formal meetings will be held Monday at the World Trade Center. The agenda includes presentations on opportunities by the Hungarian delegates and the Denver real estate, business and tourism communities and on real estate property closing procedures practiced by title companies.
Mortgages climb; analysts predict market drop
Rates on 30-year mortgages rose last week to the highest level in 15 months, while one-year adjustable-rate mortgages climbed to the highest level in 4 1/2 years. Analysts expect rising mortgage rates to cool the booming housing market in coming months. Freddie Mac reported Thursday that the nationwide average for 30-year, fixed-rate mortgages rose to 6.10 percent, the highest level since 30-year mortgages were at 6.21 percent in late July 2004. 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 4.14 percent.
