Snowmass Base Village — Deposits made on 16 of the 27 Little Nell Residences at Snowmass have been returned and the contracts terminated — the latest development in a week full of bad news regarding residential properties in Base Village.A lack of construction financing, missed deadlines… Read More

Mortgage applications in the U.S. fell 16 % last week to the lowest level since November as a jump in borrowing costs discouraged refinancing and threatened to deepen the housing slump.Rates began rising in May on concern increases in government borrowing to finance the record budget gap will prompt investors… Read More

More than 9% of 45 million U.S. mortgages, or about four million loans, were delinquent in the first quarter of 2009, according to the Mortgage Bankers Association. That is the highest level since the group started tracking such data in 1972. As of the end of April, though, just 518,155… Read More

Dozens of his victims have homes in Aspen. And more than 100 victims of failed financier Bernard Madoff’s multibillion-dollar fraud urged a New York judge Monday to sentence him harshly, saying he ruined their lives, leaving many of them depressed, bitter and hopeless.In 113 statements, the victims from across the… Read More

Aspen’s Residences at Little Nell approach critical point – Developer aims to settle large share of contested sales contracts: One of the few bright spots in the Aspen real estate market — The Residences at The Little Nell — is seeing its sales activity slow and its prices drop as… Read More

In one of the signature, fin de siècle moments of our passing Gilded Age, the Yellowstone Club filed for Chapter 11 protection last November; four months later, the wife of its founder, Edra Denise Blixseth, age 55, followed suit — a club and its doyenne, sucked into a financial downdraft… Read More

Closed (3): 109427, 108530, 107091 (This link is valid until 7/14/2009.) MLS # 109427 -720 Pines Drive, Pine at Owl Creek Subdivision, Snowmass Village. Ask Price: $10,950,000.; Sold Price: $7,925,000/$1,394 sq ft (-23% off Ask/Original Price). Beautiful Robert Trown designed 1999 ski-in/ski-out single family home, 5 Bdrm/5… Read More

Home-mortgage rates took another leap this week, bringing the average rate on a 30-year fixed-rate mortgage to its highest in seven months, Freddie Mac reported Thursday.The 30-year fixed-rate mortgage averaged 5.59% for the week ended June 11, according to Freddie Mac’s weekly survey of conforming mortgage rates. That is up… Read More

With a 34% rebound in three months, the Dow Jones Industrial Average has pushed into positive territory for 2009 to 8799.26 on Friday, and one of the main reasons is disarmingly simple: Financial markets once again are awash in government cash.The Dow rose 28.34 points as money managers continued shifting… Read More

Since President Obama unveiled a mortgage modification program in March to help people who are at risk of losing their homes, housing counselors in the New York area have fielded hundreds of calls along the lines of: “How do I get one of those 2 percent mortgages?” The answer has… Read More

On Wednesday, rates on 30-year fixed-rate mortgages climbed to 5.79%, up from 5% two weeks ago, according to HSH Associates. That jump will cut roughly in half the number of borrowers with an incentive to refinance, according to FTN Financial. Refinance activity at J.P. Morgan Chase & Co. is already… Read More

Here we stand more than a year into a grave economic crisis with a projected budget deficit of 13% of GDP. That’s more than twice the size of the next largest deficit since World War II. But as bad as the fiscal picture is, panic-driven monetary policies portend to have… Read More