Sovereign Homes gets Ariz. project
A Broomfield company has been selected as a preferred builder in a 1,600-acre master-planned community in Arizona’s Mohave Valley. Cardinal Communications Inc.’s Sovereign Homes division will start construction this month on the first of four model homes at El Rio Country Club, a 640-acre gated community anchored by an 18-hole championship golf course. Homes will be priced between $200,000 and $350,000. Sovereign Homes is a specialized developer of residential real estate. Cardinal is a provider of voice, video and high-speed broadband telecom services.
Kitchen, bath remodels pay off
Investing in kitchen and bathroom remodeling projects pays off. Many homeowners who complete midrange bathroom remodels can expect to make money; the cost on a national average for this project is $10,499, and the return is $10,727, or 102.2 percent, compared with 87.5 percent in 2002, according to the 2005 Cost Value Report published by the National Association of Realtors in Realtor Magazine and by Hanley Wood LLC in Remodeling magazine. On average, major midrange kitchen remodels cost $43,862 and return $39,920, or 91 percent of the remodeling costs, up from 66 percent in 2002.
Photog auctions home
Emmy Award-winning photojournalist Joe “Klimo” Klimovitz is auctioning off his Steamboat Springs home. Klimovitz, who regularly shoots for “NBC Nightly News,” “Dateline,” “48 House,” “ABC’s 20/20,” A&E and the History Channel, built the 6,900-square-foot home on 20 acres in 2002 as an escape for his family. But his busy career prevented him from visiting the estate, about 20 miles north of Steamboat Springs, as often as he thought he would. The five-bedroom, five-bath home includes a kitchen equipped with Sub-Zero and Viking appliances, a 1,300-square-foot family room with 21-foot ceilings, three floor-to- ceiling moss rock fireplaces and a six-person cedar-walled dry sauna.
The auction will take place at 4 p.m. Saturday on the property at the intersection of Routt County Roads 129 and 209. Registration begins at noon.
30-year fixed-rate mortgages tip downward
National mortgage rates edged down last week, good news for people looking to buy a slice of the American dream – their own home. The mortgage company Freddie Mac, in its weekly survey, reported that rates on 30-year, fixed-rate mortgages dipped to 6.22 percent for the week ending Thursday. That was down from an average rate of 6.26 percent for the week ended Dec. 22. 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 4.37 percent. The Cost of Funds Index for October from the Federal Home Loan Bank (11th District) was 3.074 percent.
