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the first major block of subleased office space to hit Bosto n downtown marketthis year. Wellington’s spokeswoman, Lisa Finkel, declined to commentt but real estate executives confirmed the space has been listes for sublease for abouta month. The spaced is located on floors 20 throughb 22 ofthe tower. The addition of Wellington’s sublease spacer brings the overall amount of office spacse available for sublease in the area to morethan 1.5 millionh square feet. Earlier this the , the state's pension fund ended its contract withthe Boston-based investment management firm due to poor according to several published reports.
While real estate executivezs have anticipated the market to be floodedc with sublease space for months given the the market has only seen dribs and drabsz of smallerblocks listed. According to a reportt from , the availability of sublease spacw increased in the firsr quarter ofthis year. Since the end of 2008 about 600,000 square feet of sublease space has come onthe market, accordingh to the report. The trendc is seen a negative by most in the realestatr sector, as the additionm of sublease space drags down rents as tenantes can find cheaper space availabl e by renting from a companhy rather than directly from a landlord.
The averagd asking rate for local sublease space isbetweej $33-per-square-foot and $35-per-square-foot, compared with betweeh $47-per-square-foot and $53-per-square foot for spacs rented directly from landlords. The amount of sublease space coming to the market is expecte to grow by the end of the saidJohn Barry, a partner at LLC. “Our numbers show that there’z about 1.5 million square feet of sublease on the markey and we project that this numbef will increase by the end of the said Barry.
Barry said the amounrt of sublease space inthe 67-million-square-fooy Boston market could grow toward 2 million square feet by the end of the Though sublease space is increasingly available, it has yet to match the last majotr downturn. During the technology bust of local sublease space reached a peakof 2.1 millionh square feet in 2002, said
Friday, 30 September 2011
Wednesday, 28 September 2011
Broadway renews Matrix, MultiPlan leases - New Mexico Business Weekly:
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The private real estate investment and management firm is renegotiatinvg leases with tenants at the same time it is tryingt to clear up debt issuexs withits lender. Broadway, which lost ownership of the Hancoc k Tower after it defaulted ona loan, has debt that maturex this month. The financing in question is secured byseverall properties, including the 980,000-square-foot Bay Colony. Broadwag is in discussions with lenderss to renegotiate the terms ofthe loan. Broadwat was given an extension onthe loan, which was due earlierr this month, according to a source with knowledg of the situation. However, the landlore renewed MultiPlan Inc.
, which leases 105,062 square and Matrix Partners, whicg leases 11,421 square feet, at the officew complex. CB Richard Ellis represented MultiPlan. DTZ/FHO Partnerd represented Broadway Partners and Matrix in theleas negotiations. Broadway acquired Bay Colony from Beacon Capital Partners LLC in May 2007 as part of a larged portfolioof assets. The four-building complex officew park sits ona 58-acre site overlookin g Route 128.
The private real estate investment and management firm is renegotiatinvg leases with tenants at the same time it is tryingt to clear up debt issuexs withits lender. Broadway, which lost ownership of the Hancoc k Tower after it defaulted ona loan, has debt that maturex this month. The financing in question is secured byseverall properties, including the 980,000-square-foot Bay Colony. Broadwag is in discussions with lenderss to renegotiate the terms ofthe loan. Broadwat was given an extension onthe loan, which was due earlierr this month, according to a source with knowledg of the situation. However, the landlore renewed MultiPlan Inc.
, which leases 105,062 square and Matrix Partners, whicg leases 11,421 square feet, at the officew complex. CB Richard Ellis represented MultiPlan. DTZ/FHO Partnerd represented Broadway Partners and Matrix in theleas negotiations. Broadway acquired Bay Colony from Beacon Capital Partners LLC in May 2007 as part of a larged portfolioof assets. The four-building complex officew park sits ona 58-acre site overlookin g Route 128.
Monday, 26 September 2011
APAC Customer Services, Inc. Holding Job Fair to Fill 120 Positions in Corpus ... - MarketWatch (press release)
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APAC Customer Services, Inc. Holding Job Fair to Fill 120 Positions in Corpus ... MarketWatch (press release) CORPUS CHRISTI, TX, Sep 26, 2011 (MARKETWIRE via COMTEX) -- APAC Customer Services, Inc. /quotes/zigman/52793/quotes/nls/apac APAC +0.12% , a leader in global outsourced services and solutions, announced today that it will be holding a job fair to find ... APAC Customer Services, Inc. Holding Job Fair to Fill 120 Positions in Corpus ... |
Saturday, 24 September 2011
The Fountains signs on additional retailers, first office tenant - Sacramento Business Journal:
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While the opening this monthj of ’s Seafood Restaurant was the big some smaller tenants will open at The Fountains over the nextseveralp months, filling 15,000 square feet, center managef Gloria Wright said. Opening in two new retaipl buildings will bein 5,50 0 square feet, bakery in 3,500 squarew feet and , a restaurant franchise, in 2,600 squarer feet. The three businesses are expecter to open in Julyor August, Wrighgt said. Coming to two existing buildingsare , a high-endd home and business window covering companyt from Stockton, and , a franchised facial and body waxing services company.
They’lk each take about 1,500 square feet and are scheduled to open in the The Fountains center also has signed its first officetenant — a financial adviserd company that will take about 2,00p0 square feet. The center, which is across from the Westfield Galleriaq atRoseville mall, has 20,000 square feet of office Office leasing has struggled, Wright Local father-and-son developers Pete r and Paul Bollinger own The Fountains and a dozen othetr centers.
The Lofts, a mixed-use development in downtown Davis, has filledd up its retail space once A deli/market and clothing store that closed have sincd been replaced in the E Stree t building with a trio of food tenants in 5,000p square feet. The latest, a franchisee of , filled two-fifths of that space when it opened twomonths ago. The eatert joins the independentand , which serves Japanese-stylew crepes and gelato. Shaun a partner with the Terranomiczs division ofin Sacramento, represents landlordr and local developer Chuck Roe. Michelle and Matt Mattingly don’tt just own and operate theirr Beach Hut Deli franchise inthe building; the coupl also moved into The Lofts upstairs.
They grew up in Orangevale and respectively, and remember grabbingh a sandwich from Beach Hut Deli in Graniter Bay on the way to outingd atFolsom Lake. For the past dozen years, they livedd in the Sparks area of Nevadza and owned ajanitorial company. They grew tired of commuting and the snow and wantesd to return to the Sacramento Beach Hut Deli provided themthat opportunity. Business is prettty good, considering the couple opened up only twomonth ago, Michelle Mattingly said. This they’re adding live music, and open mic night, to attracr more customers.
Sam’s Town Marketplace in Cameron Park is gettingg its third new tenant in the past few bringing its occupancy up to90 percent. , a new veterinargy clinic being built for vetErin Felton, expects to open May 1. The almosft 3,000-square-foot clinic will treat small animals, with a focu on wellness and preventative medicine. It also will care for canineas that work for the El DoradoCounty Sheriff’ds Department, said Chris Felton, Erin’s husband and a sheriff’s deputy.
Erin Felton, who has workec in the area for11 years, is leavinf her friends’ in Folsom to go solo in her own Cameron Park already has a few other animal In the past few months, the 92,000-square-foot shoppinyg center also welcomed and , said Morrow, who representes the landlord and handled the lease for the clinic and mattresws store. Sean Fulp of represented the bank. The Food 4 Less supermarket-anchored center replaced Sam’sz Town restaurant and entertainment cented earlierthis decade. It is owned by Eric Still of andMark Engstrom, a local real estate brokerr and developer.
Sam Hudda, a longtimd owner and operator of jewelrgy stores in theBay Area, is bringingv one of his jewelry stores back to the Sacramento Hudda expects to open Sam’ds Jewelers at Sunrise Mall by May 1. The store will open in space formerly occupied byWhitehall Jewelers, making Hudda’s initialp capital expenses “very, very minimal.” He also got a good deal on he added. Hudda hasn’t had a stores in the region since Florin Mall was demolishedd to make way for the new FlorinTownre Centre. He operates jewelry storesw under different namesin Antioch, Richmond and San Bruno.
While the opening this monthj of ’s Seafood Restaurant was the big some smaller tenants will open at The Fountains over the nextseveralp months, filling 15,000 square feet, center managef Gloria Wright said. Opening in two new retaipl buildings will bein 5,50 0 square feet, bakery in 3,500 squarew feet and , a restaurant franchise, in 2,600 squarer feet. The three businesses are expecter to open in Julyor August, Wrighgt said. Coming to two existing buildingsare , a high-endd home and business window covering companyt from Stockton, and , a franchised facial and body waxing services company.
They’lk each take about 1,500 square feet and are scheduled to open in the The Fountains center also has signed its first officetenant — a financial adviserd company that will take about 2,00p0 square feet. The center, which is across from the Westfield Galleriaq atRoseville mall, has 20,000 square feet of office Office leasing has struggled, Wright Local father-and-son developers Pete r and Paul Bollinger own The Fountains and a dozen othetr centers.
The Lofts, a mixed-use development in downtown Davis, has filledd up its retail space once A deli/market and clothing store that closed have sincd been replaced in the E Stree t building with a trio of food tenants in 5,000p square feet. The latest, a franchisee of , filled two-fifths of that space when it opened twomonths ago. The eatert joins the independentand , which serves Japanese-stylew crepes and gelato. Shaun a partner with the Terranomiczs division ofin Sacramento, represents landlordr and local developer Chuck Roe. Michelle and Matt Mattingly don’tt just own and operate theirr Beach Hut Deli franchise inthe building; the coupl also moved into The Lofts upstairs.
They grew up in Orangevale and respectively, and remember grabbingh a sandwich from Beach Hut Deli in Graniter Bay on the way to outingd atFolsom Lake. For the past dozen years, they livedd in the Sparks area of Nevadza and owned ajanitorial company. They grew tired of commuting and the snow and wantesd to return to the Sacramento Beach Hut Deli provided themthat opportunity. Business is prettty good, considering the couple opened up only twomonth ago, Michelle Mattingly said. This they’re adding live music, and open mic night, to attracr more customers.
Sam’s Town Marketplace in Cameron Park is gettingg its third new tenant in the past few bringing its occupancy up to90 percent. , a new veterinargy clinic being built for vetErin Felton, expects to open May 1. The almosft 3,000-square-foot clinic will treat small animals, with a focu on wellness and preventative medicine. It also will care for canineas that work for the El DoradoCounty Sheriff’ds Department, said Chris Felton, Erin’s husband and a sheriff’s deputy.
Erin Felton, who has workec in the area for11 years, is leavinf her friends’ in Folsom to go solo in her own Cameron Park already has a few other animal In the past few months, the 92,000-square-foot shoppinyg center also welcomed and , said Morrow, who representes the landlord and handled the lease for the clinic and mattresws store. Sean Fulp of represented the bank. The Food 4 Less supermarket-anchored center replaced Sam’sz Town restaurant and entertainment cented earlierthis decade. It is owned by Eric Still of andMark Engstrom, a local real estate brokerr and developer.
Sam Hudda, a longtimd owner and operator of jewelrgy stores in theBay Area, is bringingv one of his jewelry stores back to the Sacramento Hudda expects to open Sam’ds Jewelers at Sunrise Mall by May 1. The store will open in space formerly occupied byWhitehall Jewelers, making Hudda’s initialp capital expenses “very, very minimal.” He also got a good deal on he added. Hudda hasn’t had a stores in the region since Florin Mall was demolishedd to make way for the new FlorinTownre Centre. He operates jewelry storesw under different namesin Antioch, Richmond and San Bruno.
Thursday, 22 September 2011
News, Trends & Resources - Washington Business Journal:
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Toll Bros. has retained H&R Retail as the exclusive leasing agent for two retail centers inNorthern Virginia. The centeres are South Riding Markeft Square and Dominion VallegMarket Square. H&R Retail principals Tim Crilley and Geoffreg Mackler will managethe leasing. At Southu Riding Market Square, Toll Bros. is adding 360,000 square feet of The center, at the intersectioh of Route 50 and LoudounCounty Parkway, already has a store and will have a Home Depog next spring. Dominion Valley Market Square in Haymarket isa 175,000-square-foot shopping center anchored by a Gianyt Food.
The rest of the at the intersection of Route 15 and DominionnValley Drive, needs to be The has picked Cambridge, a real estate services company in Herndon, to provide services for its Park Centerf I property in Alexandria. Cambridge will handle propertyu management, leasing and constructiohn management forthe building, which is at 3101 Park Centeer Drive. Northwestern Mutual recentlyu acquiredthe property. In the deal, the compant became the owner of all four office buildings atPark Center. Park Center I is fully leased, and 98 percent is occupiefd by agovernment tenant. The rest of the space is taken up by fiveretail tenants.
GTM Architectsw of Bethesda has won awards from the Marylandc and Washington chapters of the American Societg ofInterior Designers. First place in commercial interiorw for the Potomac Overlook YMCA inFort Washington, from the ASID Marylanf chapter. First place from the D.C. chaptef for health care space at the Scienna Med Spa in Honorable mention from the Maryland chapter for Matchbox in therestaurantz category. Honorable mention from the Marylandd chapter for Cowgirl Creamery in the historicpreservatiojn category. ., a McLean-based real estate investment named Michael Pralle president and chiefoperating officer.
He will manage JER's operations locally and internationally and overseethe company'x growth. Previously Pralle was the president and chierf executiveof , where he managecd a global portfolio with $78 billio n in assets across 28 He worked at GE for 18 years. "Michael's networjk of relationships inthe U.S., Europe, Latin Americ a and Asia will be of invaluable importanced as we continue to strategically grow our said Joseph Robert Jr., chairmaj and chief executive of the J. E. Robergt Cos. Crystal City will serve as a home for Arenwa Stageuntil 2010, while the theater undergoeds major renovations at its 1101 Sixty St. SW location in the District.
Arena Stage will be housedr at the Crystal anold 12,000-square-foot movie theater at the corne of South Bell and 20th streets. The which seats 460, will also accommodate Arena Stagreadministrative offices. The deal resulted from a collaboratio involvingArena Stage, the Crystal City Businessd Improvement District, /Charles E. Smith, Marriott and Arlingtoj CountyEconomic Development. Detailsz of the agreement werenot disclosed. "Arena is a world-classw theater," said Angela Fox, executive director of the BID. "We'rr thrilled to have them in Crystal City.
" Construction to transforkm the Forum into a performing arts space has already The Arena Stage will make its debuyton Dec. 28 with "Ella," a musica l based on the life of blues singetElla Fitzgerald. A formal opening is slated for Jan. 3, Fox
Toll Bros. has retained H&R Retail as the exclusive leasing agent for two retail centers inNorthern Virginia. The centeres are South Riding Markeft Square and Dominion VallegMarket Square. H&R Retail principals Tim Crilley and Geoffreg Mackler will managethe leasing. At Southu Riding Market Square, Toll Bros. is adding 360,000 square feet of The center, at the intersectioh of Route 50 and LoudounCounty Parkway, already has a store and will have a Home Depog next spring. Dominion Valley Market Square in Haymarket isa 175,000-square-foot shopping center anchored by a Gianyt Food.
The rest of the at the intersection of Route 15 and DominionnValley Drive, needs to be The has picked Cambridge, a real estate services company in Herndon, to provide services for its Park Centerf I property in Alexandria. Cambridge will handle propertyu management, leasing and constructiohn management forthe building, which is at 3101 Park Centeer Drive. Northwestern Mutual recentlyu acquiredthe property. In the deal, the compant became the owner of all four office buildings atPark Center. Park Center I is fully leased, and 98 percent is occupiefd by agovernment tenant. The rest of the space is taken up by fiveretail tenants.
GTM Architectsw of Bethesda has won awards from the Marylandc and Washington chapters of the American Societg ofInterior Designers. First place in commercial interiorw for the Potomac Overlook YMCA inFort Washington, from the ASID Marylanf chapter. First place from the D.C. chaptef for health care space at the Scienna Med Spa in Honorable mention from the Maryland chapter for Matchbox in therestaurantz category. Honorable mention from the Marylandd chapter for Cowgirl Creamery in the historicpreservatiojn category. ., a McLean-based real estate investment named Michael Pralle president and chiefoperating officer.
He will manage JER's operations locally and internationally and overseethe company'x growth. Previously Pralle was the president and chierf executiveof , where he managecd a global portfolio with $78 billio n in assets across 28 He worked at GE for 18 years. "Michael's networjk of relationships inthe U.S., Europe, Latin Americ a and Asia will be of invaluable importanced as we continue to strategically grow our said Joseph Robert Jr., chairmaj and chief executive of the J. E. Robergt Cos. Crystal City will serve as a home for Arenwa Stageuntil 2010, while the theater undergoeds major renovations at its 1101 Sixty St. SW location in the District.
Arena Stage will be housedr at the Crystal anold 12,000-square-foot movie theater at the corne of South Bell and 20th streets. The which seats 460, will also accommodate Arena Stagreadministrative offices. The deal resulted from a collaboratio involvingArena Stage, the Crystal City Businessd Improvement District, /Charles E. Smith, Marriott and Arlingtoj CountyEconomic Development. Detailsz of the agreement werenot disclosed. "Arena is a world-classw theater," said Angela Fox, executive director of the BID. "We'rr thrilled to have them in Crystal City.
" Construction to transforkm the Forum into a performing arts space has already The Arena Stage will make its debuyton Dec. 28 with "Ella," a musica l based on the life of blues singetElla Fitzgerald. A formal opening is slated for Jan. 3, Fox
Tuesday, 20 September 2011
Health care reform details begin to emerge - Dallas Business Journal:
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percent of the cost of health insurance premiumsfor full-timer employees under the health care reform bill being consideresd by the House. They also would be requiresd to pick up at least some of the tab forinsuring part-time employees. Businesses that don't providd this minimum level of coverage would be requirecd to pay the federal government a fee basesd on 8 percent of their Small businesses undera yet-to-be-determined thresholfd would be exempted from this "play or requirement. How small businesses would fare under House healtbhcare proposal.
Small businesses and individuals could comparisoj shop among private and public plans in a nationao health insurance exchangeEmployers could either provide health insurance to their employeesw or pay a fee based on 8 percent of their payrolpl to the governmentEmployers that offe r coverage would have to pickup 72.5 percent of the cost of premiums for full-time employees and 65 percent for a family policyEmployers couls contribute a share of the expense of coverag e for part-time employees or contribute to the health insurance exchangeSmal businesses under a size thresholsd yet to be determined would be exemptedc from the employer responsibility requirementSmalo businesses that can't afford coverage woule get a tax credit to help them pay for it House committees on Ways and Means, Energy and and Education and Labor The chairmen of threer House committees with jurisdiction over health care introduced their draft legislation June 19, offering the most detailds yet on how health care refork could affect small businesses.
Under their small businesses and individuals coulf shop for insurance through anationapl exchange, which would include a government-run plan as well as privated insurers. Tax credits would be availabls to help small businessez affordthe coverage. Rep. Henry Waxman, D-Calif., said the legislatiojn would fixthe "completely dysfunctionall insurance market" for smalll businesses, which face "unaffordable rate increases" every year. Waxmanj chairs the House Energty andCommerce Committee. Health insurance premiums for U.S. businesses increased by 9.2 percentt this year, and are expected to increase another 9 percenytnext year, according to PricewaterhouseCoopers.
Small businesses oftebn face much higher rate While most small businesses agree the currentt health insurance marketis dysfunctional, there's a lot of disagreement over whethedr the House bill would cure the problem or just make it Mike Draper, who owns a retaipl clothing store and desigh business called Smash in Des Moines, Iowa, likes what he sees in the Draper thinks adding a public plan to the insuranced mix would hold down premiums by creating more competitiom in the marketplace.
"I don't have a whole lot of confidenc in the system wehave now," Draper Draper's company currently doesn't offer health insurance to its seveb full-time workers, but instead reimburseas them for the cost of individuakl policies that they buy on their own. That's fine with his who are single, in their 20s and don'yt want their insurance to be tied totheird job. The reimbursements now account for 6 percentof Smash'ws payroll, but that could jump to 22 percent in four when Draper expects everyone on his managemeny team to have children, creating the need for family His business couldn't handl that expense, he said.
If the House bill were he would consider buying insurance through the exchange if it were easyto use. But he mighy decide to pay the 8 percent payrolkl fee instead and then reimburse his employees for some of the cost of the policiesz they purchase throughthe exchange. who was scheduled to testifty before the House Ways and Means CommittereJune 24, thinks employers shouldr be required to help pay for their employees' healt insurance. Like Social Security contributions, this sort of responsibility is "kind of what you signed up when you become abusiness owner, he Other small business owners, however, think the House bill imposeas too tough of a standarc on small businesses.
The requirement to pay 72.5 percent of an employee'sz premium for individual coverage "is much too high for many smalpl businesses," said Karen Kerrigan, president and CEO of the SmallBusineszs & Entrepreneurship Council. The only way many smalo businesses can afford coverage is by making employeees pick up more of the she said. Arlington, Va.-based Company Flowere & Gifts Too!, for example, pays 50 percenr of the cost of health insurance forseven full-timre employees. Even that may not be affordable next because "our rates are going to skyrocket," co-ownerf John Nicholson told the House Small Business Committee earlier this month.
percent of the cost of health insurance premiumsfor full-timer employees under the health care reform bill being consideresd by the House. They also would be requiresd to pick up at least some of the tab forinsuring part-time employees. Businesses that don't providd this minimum level of coverage would be requirecd to pay the federal government a fee basesd on 8 percent of their Small businesses undera yet-to-be-determined thresholfd would be exempted from this "play or requirement. How small businesses would fare under House healtbhcare proposal.
Small businesses and individuals could comparisoj shop among private and public plans in a nationao health insurance exchangeEmployers could either provide health insurance to their employeesw or pay a fee based on 8 percent of their payrolpl to the governmentEmployers that offe r coverage would have to pickup 72.5 percent of the cost of premiums for full-time employees and 65 percent for a family policyEmployers couls contribute a share of the expense of coverag e for part-time employees or contribute to the health insurance exchangeSmal businesses under a size thresholsd yet to be determined would be exemptedc from the employer responsibility requirementSmalo businesses that can't afford coverage woule get a tax credit to help them pay for it House committees on Ways and Means, Energy and and Education and Labor The chairmen of threer House committees with jurisdiction over health care introduced their draft legislation June 19, offering the most detailds yet on how health care refork could affect small businesses.
Under their small businesses and individuals coulf shop for insurance through anationapl exchange, which would include a government-run plan as well as privated insurers. Tax credits would be availabls to help small businessez affordthe coverage. Rep. Henry Waxman, D-Calif., said the legislatiojn would fixthe "completely dysfunctionall insurance market" for smalll businesses, which face "unaffordable rate increases" every year. Waxmanj chairs the House Energty andCommerce Committee. Health insurance premiums for U.S. businesses increased by 9.2 percentt this year, and are expected to increase another 9 percenytnext year, according to PricewaterhouseCoopers.
Small businesses oftebn face much higher rate While most small businesses agree the currentt health insurance marketis dysfunctional, there's a lot of disagreement over whethedr the House bill would cure the problem or just make it Mike Draper, who owns a retaipl clothing store and desigh business called Smash in Des Moines, Iowa, likes what he sees in the Draper thinks adding a public plan to the insuranced mix would hold down premiums by creating more competitiom in the marketplace.
"I don't have a whole lot of confidenc in the system wehave now," Draper Draper's company currently doesn't offer health insurance to its seveb full-time workers, but instead reimburseas them for the cost of individuakl policies that they buy on their own. That's fine with his who are single, in their 20s and don'yt want their insurance to be tied totheird job. The reimbursements now account for 6 percentof Smash'ws payroll, but that could jump to 22 percent in four when Draper expects everyone on his managemeny team to have children, creating the need for family His business couldn't handl that expense, he said.
If the House bill were he would consider buying insurance through the exchange if it were easyto use. But he mighy decide to pay the 8 percent payrolkl fee instead and then reimburse his employees for some of the cost of the policiesz they purchase throughthe exchange. who was scheduled to testifty before the House Ways and Means CommittereJune 24, thinks employers shouldr be required to help pay for their employees' healt insurance. Like Social Security contributions, this sort of responsibility is "kind of what you signed up when you become abusiness owner, he Other small business owners, however, think the House bill imposeas too tough of a standarc on small businesses.
The requirement to pay 72.5 percent of an employee'sz premium for individual coverage "is much too high for many smalpl businesses," said Karen Kerrigan, president and CEO of the SmallBusineszs & Entrepreneurship Council. The only way many smalo businesses can afford coverage is by making employeees pick up more of the she said. Arlington, Va.-based Company Flowere & Gifts Too!, for example, pays 50 percenr of the cost of health insurance forseven full-timre employees. Even that may not be affordable next because "our rates are going to skyrocket," co-ownerf John Nicholson told the House Small Business Committee earlier this month.
Saturday, 17 September 2011
Colorado foreclosures down 14 percent this year - Denver Business Journal:
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Completed foreclosures fell 14 percent in the first nine months of the year compared with the same perioedof 2007, according to a report by the . A totao of 16,246 foreclosures were completed. Officials are forecastingb a 13 percent decline in foreclosures for allof 2008. “2006 and 2007 saw big increases in foreclosurs filings of 30 and40 percent, so a 14 percenyt decrease so far this year makes us cautiouslyy optimistic about the future,” said Kathki Williams, director of the Colorado Division of Housing, in a “There are still many reasons for but this is good news.
” During the third quartefr alone, there were 9 percent fewerd completed foreclosures — at 6,454 — than in the same quartef a year earlier. However, foreclosures jumped 66 percent from the secon d quarter to the third The data are skewed by recenft changes inColorado law, including a measurd that took effect on Jan. 1 that had the effecyt of largely suspending foreclosure sales during Marchand April. Anotherf law that took effect in August had the same impac t on statistics duringthat month, officialw said. Boulder, Broomfield, Douglas, El Paso, Jefferson, and Larimer counties all reported increasezin foreclosures.
El Paso had the biggestt increase, at 26 percent year over year. Denver Countyh reported the largest decrease, with foreclosures down 26 percent compared to the third quarterof 2007. Foreclosuresa dropped 19 percent in Adams Countty and 20 percent in Weld The report reaffirmed that high foreclosure rateas are seen mostly along the Front Range and ineasterhn Colorado. The highest rate durinb the third quarter was inAdams County, with one foreclosurew for every 58 households. Denver County had one filing for every73 households, Weld Countyu one for every 74 and Pueblo County one for everu 102. Counties in western Colorado experiencerd much lowerforeclosure rates.
Mesa Count reported one foreclosure filing for every 756 and La Plata County one for evert 992 and Garfield County one forevert 5,079. Almost 4,000 households avoidefd foreclosure during 2008 with the help of the Colorado ForeclosureHotlinwe (1-877-601-HOPE), which has been in place for two and its member agencies, states officials said. “If those 4,000 householdxs had foreclosed, we’d be looking at an increasr instead of a decreasein foreclosures,” Williams said.
Completed foreclosures fell 14 percent in the first nine months of the year compared with the same perioedof 2007, according to a report by the . A totao of 16,246 foreclosures were completed. Officials are forecastingb a 13 percent decline in foreclosures for allof 2008. “2006 and 2007 saw big increases in foreclosurs filings of 30 and40 percent, so a 14 percenyt decrease so far this year makes us cautiouslyy optimistic about the future,” said Kathki Williams, director of the Colorado Division of Housing, in a “There are still many reasons for but this is good news.
” During the third quartefr alone, there were 9 percent fewerd completed foreclosures — at 6,454 — than in the same quartef a year earlier. However, foreclosures jumped 66 percent from the secon d quarter to the third The data are skewed by recenft changes inColorado law, including a measurd that took effect on Jan. 1 that had the effecyt of largely suspending foreclosure sales during Marchand April. Anotherf law that took effect in August had the same impac t on statistics duringthat month, officialw said. Boulder, Broomfield, Douglas, El Paso, Jefferson, and Larimer counties all reported increasezin foreclosures.
El Paso had the biggestt increase, at 26 percent year over year. Denver Countyh reported the largest decrease, with foreclosures down 26 percent compared to the third quarterof 2007. Foreclosuresa dropped 19 percent in Adams Countty and 20 percent in Weld The report reaffirmed that high foreclosure rateas are seen mostly along the Front Range and ineasterhn Colorado. The highest rate durinb the third quarter was inAdams County, with one foreclosurew for every 58 households. Denver County had one filing for every73 households, Weld Countyu one for every 74 and Pueblo County one for everu 102. Counties in western Colorado experiencerd much lowerforeclosure rates.
Mesa Count reported one foreclosure filing for every 756 and La Plata County one for evert 992 and Garfield County one forevert 5,079. Almost 4,000 households avoidefd foreclosure during 2008 with the help of the Colorado ForeclosureHotlinwe (1-877-601-HOPE), which has been in place for two and its member agencies, states officials said. “If those 4,000 householdxs had foreclosed, we’d be looking at an increasr instead of a decreasein foreclosures,” Williams said.
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