Developers often secure FHA approval for their condominium projects, enabling buyers to obtain FHA loans. Whether or not those approvals remain in place is left to the owners’ association for the project. As investors continue to snap-up condominium units one at a time or in bulk, it is important to review the status of the
Multi-Unit Housing
Generation Y Wants Urban Lifestyle
By Jay Philp on
As discussed here by The Wall Street Journal, the vast majority of Generation Y, a larger demographic than baby boomers, wants an urban lifestyle. Of those born between 1980 and the early 2000’s, 88% want to live in an urban setting rather than in traditional, suburban communities. They want a pedestrian-friendly environment. They also prefer…
Developing Green in Berthoud
By Otten Johnson on
Last month the Town of Berthoud, Colorado approved a mixed use development known as PrairieStar. The development is anticipated to contain residential housing, a school, a research and development facility, an equestrian center, retail and business components, and, most notably, a 25 acre solar farm. Developers of the project, Scott Sarbaugh and partner Richard…
Residential Disclosures Required for Colorado Multifamily Sales
By Mark Copertino on
Posted in Commercial Real Estate, Multi-Unit Housing
C.R.S. 38-35.7-101, et. seq., mandates certain disclosures in connection with the sale of “residential real property.” However, a close reading of that statute reveals that certain of those disclosures apply not only to traditional residential properties (e.g. single family homes), but to commercial, multi-family projects, as well. While it’s common practice in Colorado to include…
Rescission Rights for Residential Buyers under Interstate Land Sales Full Disclosure Act
By Otten Johnson on
A recent Wall Street Journal blog post reports that New York courts are allowing more residential real estate buyers to rescind contracts pursuant to the Interstate Land Sales Full Disclosure Act (ILSFDA). As noted in the post, and as we are also seeing here, many buyers are trying to get out of their contracts. Those…