Courtyard community
David A. Clinger & Associates Ltd. received unanimous zoning approval from the Jefferson County Commission for a development that features 53 homes clustered around courtyards. The development, called Silver Leaf, will be on a sloping hillside at the intersection of South Kipling Street and West Coal Mine Avenue. Clusters of four detached homes will be situated so entrances and garage doors don’t face one another. Each home also will have two private outdoor areas.
Large lots set in Antelope Estates
Denver real-estate veteran Steward Mosko is developing 633 acres of land he recently purchased for residential use. The property – at Manila Road, 4 miles south of Interstate 70 in Arapahoe County – will have 17 lots of up to 40 acres each. The lots will sell for $175,000 to $195,000. Mosko, a senior vice president at Fuller Real Estate, paid Jeff Carraway and Barry McCallan $900,000 for the property. He estimates he’ll spend about $500,000 installing roads and utilities for the community, to be called Antelope Estates.
Renters can earn closing-cost credits
Denver’s Red Peak Properties, an apartment developer, has partnered with Re/Max International to offer a program that enables renters to earn credits toward home-purchase closing costs. By enrolling in the program, Re/Max Heading Home, Red Peak residents earn credits equivalent to as much as 15 percent of the rent payment. They also receive an education in the homebuying process. A Re/Max Heading Home lender will help residents understand the borrowing process and attend to credit issues. When residents are ready to buy, they are matched with a Re/Max sales associate. The Re/Max program is available nationwide.
Mortgage rates highest in more than 2 years
Rates on 30-year mortgages jumped to their highest level in more than two years last week as financial markets grew more concerned about inflation. Mortgage giant Freddie Mac reported Thursday that the nationwide average for 30-year, fixed-rate mortgages rose to 6.36 percent, up from 6.31 percent for the week ended Nov. 3. 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 4.32 percent. The Cost of Funds Index for September from the Federal Home Loan Bank (11th District) was 2.972 percent.
