Real Estate Blog

The massive hail storm that pummeled the northern Front Range a year ago generated nearly $900 million more in damage than first estimated, as claims from homeowners doubled in the months that followed.

Insurers initially estimated they would receive claims for $1.4 billion in home and auto damages, surpassing the previous record holder, a storm that hit metro Denver on July 11, 1990, and generated an inflation-adjusted $1.1 billion in claims.

But a year on, the claims made on auto and home insurance policies are running closer to $2.3 billion, or 64.3 percent above the first estimate, according to the Rocky Mountain Insurance Information Association.

So many homes and autos were damaged that repairs in some cases took months to complete, and the final costs exceeded the initial estimates, said Carole Walker, executive director of the Rocky Mountain Insurance Information Association.

Auto body shops were so backed up that some cars weren’t repaired until this spring, while some roo..

BOULDER — The average price of a single-family home in Boulder has risen to $1.2 million thanks to a spate of sales of $2 million-plus homes.

The Daily Camera reports that activity in the $2 million-and-over market ticked up precipitously, with 18 such first-quarter sales in the city. That’s up from five during last year’s first quarter, and more than triple the five-year high. Two-million dollar home sales have not exceeded single digits in any of the previous five years.

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North Texas developer Sam Ware plans to withdraw a request to build apartments near J.C. Penney’s Plano headquarters.

Ware, the owner of Dreien Opportunity Partners, said in an email to Community Impact Newspaper that he plans to withdraw his request for a special use permit that would allow him to build the apartments near Plano’s $3.2 billion Legacy West development.

“I made a decision to withdraw our [permit] modification, that is all I will disclose at this time,” Ware told Community…

Home sales ticked up in April, as the spring and summer home-buying season kicked into gear.

There were 3,419 closings reported in the Nashville area last month, up 2.8 percent compared to a year ago, according to data released Monday by the Greater Nashville Realtors.

“Home sales for the second quarter started with the types of positive gains expected for this time of the year,” Sher Powers, president of the Greater Nashville Realtors, said in a news release.

Single-family homes sold in…

The city of Phoenix could build a parking garage right next to a Metro light rail stop in midtown, reports KJZZ-FM.

As part of a proposed renovation to Park Central Mall — Phoenix's oldest shopping mall — city officials and the mall's owners are proposing a garage in place of the center's sprawling parking lot. Park Central's parking lot spans 2,400 spaces across a sprawling black top.

KJZZ reports city officials and mall owners Plaza Cos. and Holualoa Cos. say a garage would consolidate all…

North Carolina Gov. Roy Cooper announced today that Amada North America Inc., a manufacturer of sheet metal fabricating equipment, has picked High Point for an $87 million expansion that will create 201 new jobs over the next five years.

Initial estimates indicate the project will cost $82 million, not including another $5 million for land purchases at 2545 and 2565 Penny Road in the Premier Center Business Park.

Loren Hill, president of the High Point Economic Development Corp., said Amada's…

The firm partnered up to acquire the building from an LLC tied to Seattle's Urban Renaissance Group.

Massachusetts Gaming Commission officials have ruled that Steve Wynn, the disgraced former Wynn Resorts Ltd. CEO, has been effectively separated from his eponymous gambling empire, allowing for the removal of Steve Wynn's name from the company’s gaming license in Massachusetts.

As part of the commission’s regulatory review of gaming licenses in the state, a background check to determine the suitability of a casino developer is required of so-called “qualifiers.”

The determination of Steve…

A city hearing examiner asked the Seattle Department of Construction and Inspections to consider whether the new tower would block daylight from neighboring condos.

Colliers International has brought a native Floridian millennial on board to lead its offices in Central and Southwest Florida, as well as Tampa.

Danny Rice, 34, is the managing director in charge of those markets for Colliers, the real estate firm said Monday. Ryan Kratz, who was overseeing those regions as well as serving as Colliers statewide president, will focus exclusively on that role.

Lee Arnold, who founded the firm that became Colliers International Central Florida, remains executive…