Real Estate Blog

A roundup of recent multifamily property sales around the Valley.

Developer Mark Sapperstein revealed plans for his 12-acre project across from the Shops at Canton Crossing.

Home prices on Oahu declined in May by single digits, compared to a year ago, while the number of sales were mixed, with condominium sales rising 5% and single-family sales declining by 4%, according to statistics from the Honolulu Board of Realtors.

There were 520 condominium units sold on Oahu in May, an increase of 5.1% from 495 units sold in May of last year. The median condo price was $417,500, a 2.9% decrease from $430,000 last year.

The median single-family home price was $770,000, which…

James Nunemacher has learned to never judge a customer by their looks alone.

Colorado was a leader when it came to missed mortgage payments and foreclosures in the years before the 2008 financial crisis. Now, no state can compare when it comes to borrowers who are timely on their mortgage payments and hanging onto their homes.

The share of mortgage loans in the state past due 30 days or more stood at 1.78 percent in April, according to Black Knight, a mortgage technology firm. That is only slightly above the record low of 1.76 percent reached in the state last August.

Colorado has had the lowest rate of mortgage delinquencies of any state for 26 consecutive months and has ranked in the bottom five states for the past 94 months, said Mitch Cohen, a spokesman for Black Knight.

When it comes to the share of mortgage loans that are seriously delinquent, past due 90 days or more, Colorado has had the lowest rate of any state for 14 months and ranked among the bottom five for 49 months.

And it’s not because other states are slouching. The U.S. national delinquenc..

Denver’s Landmark Preservation office on Friday declared Tom’s Diner potentially historic, a decision that buys community members who are interested in preserving the 52-year-old restaurant more time to save it.

Denver residents have until June 7 to apply for landmark designation on behalf of the building. If the city doesn’t receive any applications by then, the restaurant will receive nonhistoric status, allowing it to be razed within the next five years.

Earlier this month, Alberta Development Partners, based in Greenwood Village, applied for nonhistoric status along with their proposal to redevelop the Googie-style diner, for sale at 601 E. Colfax. Tom’s is one of three original White Spot restaurants — a chain that spread across Denver in the mid-20th century — remaining. The developer wants to build an eight-story apartment building in its place.

RELATED: Tom’s Diner could soon be demolished to make way for an eight-story apartment building
But the diner has potential for hist..

When it’s time to rebuild a research installation in one of the most punishing climates on Earth, where do you turn? To the Mile High City, of course.

This week, the Denver office of international architecture firm Stantec announced that it has been chosen to serve as lead designer for a project that will significantly rebuild McMurdo Station, the primary hub of operations for U.S. research on and around Antarctica. It will be up to Stantec project principal Merlin Maley and his team to take schematic drawings of two critical new buildings planned for McMurdo — a 285-bed lodging building and a “Core” operations center — and work with builders over the next eight years to get those and other structures up and running on the ice-packed southern continent.

The effort is part of the National Science Foundation’s AIMS project. AIMS — or Antarctic Infrastructure Modernization for Science — is focused on updating McMurdo to ensure it can serve the U.S. research on Antarctica for decades to ..

Ryan Cobbins takes issue when he hears talk about a lack of black-owned businesses in Five Points.

Whatever is going on over on Larimer Street — the main drag for the River North Art District that, since being formed in 2005, has changed the face and, for some, the name of the west side of Five Points — the owner of Coffee at The Point says African-American entrepreneurship is alive and well on Welton Street.

“There is African-American ownership here right now and more is coming,” said Cobbins, a black man who moved to Denver from Virginia more than a dozen years ago. “I can count 10 black-owned businesses between 26th and 29th street right now.”

Cobbins needn’t look far for an example.

Courtney Samuel and his wife, Jennifer, moved their personal training and fitness studio, Bodies by Perseverance, into a low-slung building at the corner of 29th and Welton in August after 17 years in the Uptown and Ballpark areas. Samuel called the opportunity to operate a business in a historic cu..

First-time homebuyers have different programs to help them scrape together the down payment to get into a property, but that isn’t the case for first-time landlords, who typically need 20 percent or more down to get a loan.

A Chilean company has picked Denver to introduce a concept it says can overcome that hurdle.

Over the past five years, Capitalizarme has sold more than 5,400 condos throughout Chile and more recently Lima, Peru. It has launched a Denver-based subsidiary called BrickOp to replicate that model in the United States, where there are a lot more potential investors and capital.

“We are looking for affordable multi-family,” said Gabriel Cid, CEO of BrickOp. “We are looking for good buildings with good tenants.”

He acknowledges that has been a struggle in Denver, where real estate prices have skyrocketed since 2012. Developers have largely focused on luxury apartments and the few condos built, because of the state’s construction defects law, have also been high-end.

RE..

SALT LAKE CITY — For millennials looking to buy their first home, the hunt feels like a race against the clock.

In the seven years since the housing crash ended, home values in more than three-quarters of U.S. metro areas have climbed faster than incomes, according to an Associated Press analysis of real estate industry data provided by CoreLogic.

That gap is driving some first-timers out of the most expensive cities as well as pressuring them to buy something before they are completely priced out of the market.

The high cost of home ownership is also putting extreme pressure on 20- and 30-somethings as they try to balance mortgage payments, student loans, child care and their careers.

“They do want all the same things that previous generations want,” said Daryl Fairweather, chief economist for the brokerage Redfin. “They just have more roadblocks, and they’re going to have to come up with more creative solutions to get the homes that they want.”

A Redfin analysis found these buye..