Job growth, tourism bright spots for region's economy,

an article from The Denver Post, reports that solid job gains and encouraging tourism indicators are good news for Denver's economy. In May, metro Denver's labor market numbers fared better than state and national trends as 12,000 jobs were added. The increase was basically consistent with seasonal norms. If forecasts for the just completed Independence Day travel hold true, Colorado and the West may be one of the only U.S. regions to report an increase in July 4th tourism this year. "Colorado consumers are definitely feeling better about their situations overall. We're seeing a trend that many citizens are exploring Colorado and spending their vacation money locally, which is very positive for our businesses," explained Metro Denver EDC Chief economist Patty Silverstein.

http://www.9news.com/money/article.aspx?storyid=119153&catid=344

The city of Denver will offer free building permits through the first half of June

The city of Denver will offer free building permits through the first half of June for home-improvement projects as a way to encourage economy-boosting renovation work.
The free permits are for common improvement projects involving single-family homes and duplexes.
They will be available June 1-15 and are valid for 180 days, the city announced Friday. Permits will be issued on the spot to homeowners or their contractors.
Building-permit fees normally range from $20 to several thousand dollars, depending on the value of the project.
"Now is a great time for Denver property owners to take advantage of construction deals to complete home improvement projects they may be putting off," Denver Mayor John Hickenlooper said. "Issuing free permits is one way the city can help make these types of projects easier to complete."

Denver Poised for a Rebound

Denver tops on 'Today' show list of cities poised for real-estate rebound, an article from The Denver Business Journal, reports that Denver was named America's No. 1 city on the verge of recovery from the housing slump in a segment on NBC's "Today" show yesterday. Denver more than any other U.S. city is "clearly on a rebound," said real estate expert Barbara Corcoran, a regular guest on the show. "Everything about Denver is pointing up, up, up," said Corcoran. Denver, Corcoran noted, has "a vibrant downtown, it has a high employment base, it has educated people, it has youth, [and] it has one of the biggest park systems in the country."
http://denver.bizjournals.com/denver/stories/2009/05/18/daily31.html

Banks hold back seized homes

an article from The Denver Post, reports that slower pacing is helping to drive up REO bidding. Bidding wars occur frequently for REO properties, especially those priced under $200,000. Some even attract as many as 20 or more offers. Lenders are slowing releasing their repossessed foreclosures back onto the market rather than flooding the market. According to Michael Clarkson of Mile High Home Hunter Realty, part of the strategy is to "price them low and dirty to get people to come in and bid." Ed Cluff, an investor who has purchased several hundred REO properties since 1979, believes the holdback strategy is working for lenders. "I've seen a lot of price escalation, particularly in north Aurora, Thornton and Montbello."
http://www.denverpost.com/businessheadlines/ci_12331999

Locals dispute Zillow stats for "underwater" homes

http://www.denverpost.com/businessheadlines/ci_12332001

Denver is still a safe bet

Denver's home sales rose again last month. We also appear to have reached equilibrium. That means we have only a 3-month supply of inventory, of about 20,000 homes, down 10,000. Could a seller's market be far off???

Pending Home Sales Rise Again

Pending home sales rose in March for the second consecutive month and are up year over year. The Pending Home Sales Index from the National Association of Realtors showed a 3.2% gain to 84.6 from February, when it was 82. The index stands 1.6% higher than a year ago.