Recovery Arrives for Colorado New Loan Limits in 2005 New Listing in the Overlook $955,000 2005 Economic Forecast at El Rancho

Recovery Arrives for Colorado

The 2005 Colorado Business Economic Outlook calls for our state to add 43,100 nonfarm jobs, a 2% gain. Unemployment rate is expected to fall from 5.3% to 4.8%. The largest gains, 14,800 positions, expected in professional and business services, a broad area that covers engineers to executives. Economists predict the state will outpace the rest of the country by .2%. Other statistics for 2005 include: Financial activies will add 1,200 workers, Information services will add 1,300 workers, Construction will add 900 workers with an outlook of 3% rise in spending. Trade, tansporation, and utilities expect a 1.7% job growth adding 6,900 workers with retail leading the way in this sector. Manufacturing is expected to bottom out this year with 1.2% job growth adding 1,800 workers. In regard to real estate issues, 2005 promises to be another extraordinary year, says NAR Chief Economist David Lereah. Realtors closed an estimated 6.5 million existing home sales, 1.2 million new home sales, and 950,000 condo/co-ops in 2004." Predictions for 2005 show similar results; 6.3 million existing home sales, 1.1 million new home sales, 930,000 condo/co-op sales. Watch for the updated economic report in our February e-mail newsletter www.ColoradosRealEstate.com »

New Loan Limits in 2005

Fannie Mae and Freddie Mac have expanded the non- jumbo loan limit to $359,650 for a single family home. The 2-unit (duplex) cap is a $460,400. Tri-plex at $556,500 and 4-plex at $691,600. These new rates are great for investors also. The mortgage business is very competitive. Ask your lender about the new products available in the marketplace. The mortgage business is very competitive. Ask your lender about the new products available in the marketplace. www.ColoradosRealEstate.com »

New Listing in the Overlook $955,000

This has the WOW factor at a WOW Price! Beautifully updated five bedroom, 4 1/2 bath contemporary with views of Three Sisters/Alderfer Park and Mount Evans. This home offers modern interior finishes, 4 bedrooms up with large master suite with etched glass entry doors, sitting room, cultured travertine master bath, California Closet. The first floor hosts large vaulted foyer with Murano chandelier, formal dining room, formal living room and den, chef's kitchen with nearly all new appliances, breakfast nook, wet bar in a two-story great room, plus powder room, mud room and 3-car garage. The home has been featured in architectural and design magazines. This is a rare opportunity to join the exclusive gated Overlook neighborhood at a price under $1,000,000. Call me if you or a friend have an interest in this exceptional home. www.ColoradosRealEstate.com »

2005 Economic Forecast at El Rancho

Tucker Hart Adams will be delivering her much anticipated 2005 Economic Forecast on January 27 starting at 7:30 am. The El Rancho Restaurant will host the address. As in the past, it is a good idea to make a reservation and arrive a little early. Call the Chamber of Commerce for further information. 303-674-3412.