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850,000 Properties Bounce Back to Positive Equity!
June 16, 2013

Residential property analytic provider

CoreLogic® recently released new analysis

showing the market is making big moves, with

850,000 additional residential properties turning

to positive equity during the first quarter of 2013.

In addition, the analysis shows good news for

mortgages: the total number of mortgaged

residential properties standing in negative equity

is down by nearly 1 million from the previous

quarter, moving from 10.5 million (21.7 percent)

at the end of the fourth quarter of 2012, to 9.7

million (19.8 percent) in the first quarter of 2013.

The national aggregate value of negative equity decreased more than $50 billion to $580

billion at the end of the first quarter from $631 billion at the end of the fourth quarter of 2012.

This decrease was driven in large part by an improvement in home prices.

“We are seeing an increase in homeowner equity as home prices continue to rise,” said Rei

Mesa, President & CEO of Prudential Florida Realty in January’s issue of RISMedia’s Real

Estate magazine. “This translates to a larger number of homeowners who are no longer

underwater and can move up, or make a lateral move or downsize because they are now in a

position to sell their home. With this lift in homeowner equity, we should experience a rise in

traditional home sales.” Of [more...]

Posted by Sigrid Cottrell

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Commercial resurgence? Gunnison real estate market springs to life in
June 8, 2013

 
 
Commercial resurgence? 
Gunnison real estate market springs to life in recent months
Times Editor
Originally published 2013-05-30

Over the last six months, a glut of commercial properties on the market in the City of Gunnison has been whittled away by a growing number of ventures new to town.

So far this year, a total of three noteworthy, non-lodging commercial or industrial properties have sold, accounting for nearly $1.2 million in sales within the city, according to Multiple Listing Service (MLS) data. And those only include parcels that were listed at the time of sale.

By way of comparison, four commercial properties (totaling $670,000) changed hands in Gunnison in all of 2012 — a year during which commercial sales activity was significantly higher than the three years prior.

Yet, common among many of the commercial sales in recent months is an influx of dollars from outside the community. Large national chains such as Tractor Supply Co. and Family Dollar have staked claims along Gunnison’s busiest thoroughfares. And a few smaller businesses born in Crested Butte have expanded southward, scooping up properties that in some cases had remained on the market for years.

Longtime Gunnison Valley realtors report being encouraged by the recent activity — including that it may be a signal of bigger things to come. One need only look to the concrete walls going vertical in Van Tuyl Village or demolition taking place at the former John [more...]
Posted by Sigrid A. Cottrell
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