NoCo Newsletter | August 22, 2024
Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings recent real estate news plus economic updates, including jobless claims that keep the economy on the cooling path, changes to real estate commissions that are now in effect, home sales edged up in July, and more.
REAL ESTATE & BUSINESS NEWS
NAI Affinity’s Managing Broker, Lauren Larsen, and Project Manager & Real Estate Analyst, Brecken Schaefer, wrote a feature article for CREJ that updates readers regarding multifamily in Northern Colorado. You can read the article here.
- Lind Buys ‘More Pieces of the Puzzle” for Proposed Greeley Project
- “Windsor developer Martin Lind has acquired approximately 220 more acres of land in west Greeley as he works to assemble properties for his massive proposed new arena, hotel and water-park development.” (Biz West)
- Chick-Fil-A’s First Elevated Drive-Thru Restaurant Opens
- “The test restaurant has a ‘sophisticated conveyor belt system’ for bringing the food down from the kitchen.” (Fox Business)
- Walmart Family Lists Caribou Ranch in Boulder County for Nearly $50M
- “The Walton family, the billionaire clan that owns Walmart Inc. (NYSE: WMT), is attempting to sell Caribou Ranch, a 1,700-acre property in the Rocky Mountain foothills near Nederland that for decades served as a recording retreat for mega-star musicians such as the Beach Boys, Michael Jackson, Elton John, Stevie Wonder, Chicago and Earth, Wind & Fire. The asking price: a cool $48.5 million.” (BizWest)
- Fat Albert’s Restaurant in Greeley to Close August 31st after 42 Year of Service
- “Fat Albert’s, a beloved, family-owned restaurant serving the Greeley community since 1982, will close its doors Aug. 31, according to a Facebook announcement from the Fat Albert’s family on Monday. Kitchen manager John Albert, the son of restaurant owner Sue Albert, shared that the decision’s “been a long time coming” because the business never fully bounced back from challenges caused by the COVID-19 pandemic.” (Denver Post)
- Sweeping Changes Have Arrived for Residential Real Estate in Colorado
- “A landmark settlement in a lawsuit against the National Association of Realtors could transform how homes are bought and sold starting on Saturday, potentially lowering commission costs and providing greater transparency.” (Denver Post)
- After Years of Seller’s Calling Shots, Homebuyers Getting Upper Hand in Some Metro Denver Neighborhoods
- “After spending more than a decade on defense, homebuyers in metro Denver are seeing conditions swing in their favor in a half-dozen neighborhoods with a couple dozen more shifting to neutral territory. While the region’s housing market may never flip fully in favor of buyers, a more balanced market appears to be on the horizon, and it has been a long time coming.” (The Denver Post)
ECONOMIC & EMPLOYMENT NEWS
- Us Manufacturing Activity Contracts at Fastest Pace This Yearr
- “US manufacturing activity shrank early this month at the fastest pace this year on further weakness in production, orders and factory employment.” (Bloomberg)
- US Jobless Claims, Business Activity Keep Economy on Gradual Cooling Path
- “The number of Americans filing new applications for unemployment benefits ticked up in the latest week, but appeared to be steadying near a level consistent with a gradual cooling of the labor market that should set the stage for the Federal Reserve to kick off interest rate cuts next month.” (Reuters)
- U.S. Home Sales Edged up in July, Prices Still near Record Highs
- “U.S. home sales rose slightly in July, ending a four-month streak of declines, and prices remained near record highs at a time when the cost of housing has become a hot-button election issue. ” (Wall Street Journal)
- Metro Denver Inflation Rate Drops below 2% for the First Time in Three Years
- “Consumer inflation in metro Denver dropped below 2% in July, entering the Federal Reserve’s comfort zone for the first time since March 2021. Prices for a basket of consumer goods and services in the Denver-Aurora-Lakewood area rose 1.9% between July 2023 and July 2024, compared to a 2.6% annual gain in May and a 2.8% gain in March, according to an update Wednesday from the U.S. Bureau of Labor Statistics..” (The Denver Post)
COMMUNITY & OTHER INDUSTRY NEWS
- Client Testimonials
- Old Town Square No. 4 in USA TODAY 10 Best Readers’ Choice Awards Best Public Squares List
- Most Peaceful Place to Live? Fort Collins Tops the List With Outdoor Recreation, Low Noise
- Here Are 15 Road Projects at the Top of Fort Collins’ List for the Next 10 Years.
- Fort Collins Area Chamber of Commerce: Northern Colorado Economic Overview
- Northern Colorado Boasts Nine of Top 20 Fastest-Growing Communities in State
- 2 Colorado Cities in Top 4 ‘Best Places to Live Rankings
- Denver International Airport Ranked No. 6 in Passenger Traffic Worldwide
- Support Your Local Bold Voice of Business by Contributing to the 13th Annual Moving Fort Collins Forward! Campaign
FEATURED LISTING
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See previous newsletters here.
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