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Forest City unveils a 770-home Stapleton neighborhood
July 30, 2014 — Forest City Enterprises, Inc., the developer of Stapleton, announced its newest neighborhood, Willow Park East, a 770-home community that's north of I-70, according to Inside Real Estate News.
Homes are expected to range between $100,000 and $800,000 in the 200-acre community, which bordered by East 51 and East 56 avenues, Spruce Street and Central Park Boulevard. It's also expected that this neighborhood will sell out within just two years.
The developer said that Willow Park East will maintain the same 'DNA' as the rest of Stapleton, with a twist. "Willow Park East strikes a perfect balance between nature and urban inspired living," observed John Lehigh, Forest City Stapleton president. "And like the rest of Stapleton, it embraces an urban, community-oriented design that is accessible to a diverse array of people."
Stapleton is ranked the sixth-best master-planned community in the U.S. Nine homebuilders will construct homes in Willow Park East, including Lennar Homes, KB Home, David Weekley Homes, Boulder Creek Builders, Infinity Home Collection, New Town Builders, Parkwood Homes, Standard Pacific Homes and Wonderland Homes. Read more...
Case-Shiller housing price index: Denver again reaches new peak
July 29, 2014 — While home prices continue to moderate across the country, Denver set another new peak, of 152.58 in May — a nearly 53 percent appreciation of single family home value from January 2000, when the S&P/Case-Shiller Home Price Indices began tracking home prices. This represents a 1.3 percent increase from April and an in 8.2 percent increase over May 2013.
The 10- and 20-city composites 1.1 percent year over year, where all 20 cities posted increases — the second month in a row where all 20 cities posted gains.
"Home prices are at their slowest pace since February of last year," said David M. Blitzer, chair of the Index Committee at S&P Dow Jones Indices." With an average just above 9 percent increase across the board, Blitzer said the increase was well below expectations. "Housing has been turning in mixed economic numbers in the last month. Prices and sales of existing homes have shown improvement, while construction and sales of new homes continue to lag. At the same time, the broader economy — and especially employment — are showing larger improvements and substantial gains." Read more...
Remodeler confidence regains momentum
July 25, 2014 — NAHB's Remodeling Index rose three points, to 56, in the second quarter — which regains the momentum started in 2013. This is the fifth consecutive quarter for an RMI reading above 50.
That reading reflects remodelers' reports that market activity is higher than the previous quarter. NAHB's Remodelers Chair, Paul Sullivan, said, "The completion of postponed work has helped remodelers in all regions regain confidence in the remodeling market."
NAHB reported that the future markets index rose to 56, from 52 in the previous quarter, under the strength of an increase in all four of its subcomponents: Calls for bids, amount of work committed for the next three months, backlog of jobs and appointments for proposals.
Remodeling jobs valued at $25,000 or more returned to 54, the same level as at the end of 2013. Smaller remodeling jobs and maintenance and repair components performed well this quarter, with readings of 56 and 58, respectively.
"The recent improvement in the job market has helped restore remodelers' confidence, after a dip in the first quarter that was probably in part weather related," observed David Crowe, NAHB's chief economist. "As homeowners feel more secure about their economic situation, they become even more willing to undertake remodeling projects — especially larger, discretionary ones."
Crowe added, "In addition, fewer new homebuilders are looking to remodeling as a way to supplement their revenue; this has somewhat reduced competition for remodeling projects."
Summer Job Fair
July 25, 2014 - The 2014 Summer Job Fair sponsored by the AMC and the Labor Task Force, along with JWilliams Staffing of Colorado offered amazing opportunities within our industry!
The HBA of Metro Denver and JWilliams Staffing held another successful Job Fair on July 17th. Over 21 hiring employers endorsed job opportunities, with nearly 150 positions posted from administrative to managerial, sales to construction management, as well as skilled craftsmen, tradesmen, and laborers.
Additionally, there were over 200 candidates who registered for this event. The attendees were fired up and ready to find employment; all were very appreciative. Jeff Whiton, HBA of Metro Denver and Philip Eidenschink, JWilliams Staffing, say, "Thank you to everyone who helped make this a success."
Builder confidence up, industry strengthens
July 18, 2014 — Homebuilder confidence for newly built single family homes reached an important milestone this month, rising to 53, according to the National Association of Home Builders/Wells Fargo Housing Marketing Index. The West region registered a five point gain, to 52.
"This is the first time that builder confidence has been above 50 since January," said NAHB Chair Kevin Kelly. "It's an important sign that the industry is strengthening as pent up demand brings more buyers into the marketplace."
NAHB's Chief Economist David Crowe observed that an improving market "goes hand in hand with a rise in builder confidence. As employment increases and those with jobs feel more secure about their own economic situation, they are more likely to feel comfortable about buying a home."
NAHB has been conducting a monthly survey for 30 years, which gauges homebuilder perceptions of current single family home sales and sales expectations for the next six months. Ranging from good, to fair to poor, the survey also asks builders to rate traffic of prospective buyers (high, average, low). Scores are then tabulated from each component, then used to calculate a seasonally adjusted index. Any number over 50 reflects more builders view conditions as good.
Nationally, the sales conditions piece rose four points, to 57; expectations for future sales rose six points, to 67; and gauging traffic of prospective homebuyers rose three points, to 39.
Taylor Morrison's Sheryl Palmer named an Entrepreneur of the Year finalist
July 17, 2014 — In the Denver Business Journal's 28th Mountain Desert Region's Entrepreneur of the Year awards, Sheryl Palmer was named a finalist in the Real Estate industry category. The CEO and President of Taylor Morrison Home Corp., stood out among many entrepreneurs as one who "demonstrates excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities," reported the Denver Business Journal.
Palmer fits the bill, and she learned from one of the best: Her mom. Palmer's mother was a successful clothing designer, and due to the nature of her mother's business, Palmer moved eight times before high school. And while she was in high school, Palmer traveled with her mother to China to visit manufacturers. As she told the DBJ, "I paid close attention and watched everything she did." She added that while her mother had hopes for her children taking over the business, Palmer wanted to make her own money and make her own mark in the world. Read more...
Brookfield Homes wins Grand Award at PCBC
July 10, 2014 — Brookfield Residential won the Grand Award at the Pacific Coast Builders Conference in San Francisco for its Signature 2 model in the north Denver community of Midtown at Clear Creek. Formerly named the Residential 2 model, the home was the Grand Award winner for best single family detached home under 2,000 sq ft.
To give you an idea of the competition at PCBC, Brookfield Residential's home stood out among 600 entries. One judge said, "All too often, the outdoor space gets crafted out of what square footage remains after the house has been designed. This home takes the opposite approach; the courtyard gets top priority."
The Grand Award is Brookfield's tenth, since the homebuilder began building in Colorado at Midtown. What's more, the Signature 2 model has now made a clean sweep with awards, including the most prestigious industry awards from MAME, BALA and the Gold Nugget in the home's appropriate category.
Perry Cadman, VP of Housing Operations for Brookfield, said, "We knew at the beginning of the design process, when we committed to integrating the outdoor space with the indoor space, that homebuyers would appreciate the end result. Now we know the judges appreciate it, too. And the Gold Nugget Grand Award gives us great satisfaction."