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Infamous Colorado Springs landlord sells last apartments

COLORADO SPRINGS, Colo. – Seven apartment complexes that were owned by a Colorado Springs landlord we’ve reported on in the past were sold Thursday to a Denver-based realty firm.

Todd Ragan represented the selling side in the deal with Nexus Commercial Realty, LLC, who represented the buyer, Slipstream Properties of Denver.

The Ragans have been the subjects of multiple Target 13 investigations into their practices. Multiple tenants had filed complaints against them at numerous complexes across the city over the past few years. One report last year found that Terry Ragan was responsible for 80 percent of the city’s code violations.

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Ragan had been selling off his multi-family properties, and Thursday’s deal represented the last of the buildings owned by the Ragans.

"We have been looking for good value-add opportunities in the Springs," said a representative from Slipstream.

The following complexes were sold as part of Thursday’s announcement:

Pine Creek Village Apartments – 312 units Shannon Glen Apartments – 192 units Cedar Creek Club Apartments – 175 units El Vecino Apartments – 174 units South Pointe Apartments – 162 units Timbers Apartments – 84 units New Horizons Apartments – 79 units

The properties were sold for a total of approximately $102 million.

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Colorado girl seriously injured in bear attack outside home

387017 03: Two black bears face off March 22, 2001 at the Denver Zoo in Denver, CO. (Photo by Michael Smith/Newsmakers)

GRAND JUNCTION, Colo. (AP) – A 5-year-old Colorado girl is hospitalized with serious injuries after she was attacked by a bear outside her home.

The attack happened early Sunday near Grand Junction, about 240 miles (386 kilometers) west of Denver.

The girl’s mother told state wildlife officers that her daughter went outside around 2:30 a.m. to investigate noises she thought might be related to her dog. The mother said she then heard screaming and went out to find her daughter being dragged by a large black bear. She says the bear dropped the girl after she began screaming at the animal.

Colorado Parks and Wildlife says officers are tracking the bear with the help of federal wildlife officers.

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Dummy Post New homes for under $300,000 disappearing from metro Denver

Just 1 percent of the homes started in metro Denver in the first quarter were priced below $300,000, down from 3 percent in the first quarter of 2017, according to Metrostudy, which tracks new home construction in the region and other big cities. The numbers include new single-family homes, town homes and condominiums.

And it isn’t because construction is taking a breather. Builders are ramping up this year, with new home starts 14 percent higher in the first quarter than they were a year earlier. That marks the second consecutive quarter of double-digit gains, according to Metrostudy.

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Going, going, almost gone. New homes for under $300,000 disappearing from metro Denver

Denver Post file Home for sale in Denver.

The days of buying a home in the Denver metro area for under $300,000 are all but gone.

Just 1 percent of the homes started in metro Denver in the first quarter were priced below $300,000, down from 3 percent in the first quarter of 2017, according to Metrostudy, which tracks new home construction in the region and other big cities. The numbers include new single-family homes, town homes and condominiums.

And it isn’t because construction is taking a breather. Builders are ramping up this year, with new home starts 14 percent higher in the first quarter than they were a year earlier. That marks the second consecutive quarter of double-digit gains, according to Metrostudy.

At an annualized rate, home starts are running above 12,000 for the first time since 2007. But much of what is being built skews above the half-million-dollar mark. Starts on homes priced below $299,999, already low, have dropped by two-thirds the past year.

Only 22 percent of the new homes started in the first three months of this year were priced below $400,000, even after a big jump in the construction of townhomes, which usually cost less to build than a comparable single-family home. Just two years ago, homes priced below $400,000 accounted for 40 percent of starts.

“Many prospective entry-level new home buyers are now priced out of the market, and those that can afford to buy are either moving further out into the periphery, or into more affordably priced attached product, which explains, in part, why townhome product is growing so quickly,” said John Covert, the study’s author, in the report.

To qualify for a 30-year mortgage on a $400,000 home, assuming a 20 percent down payment, a household would need to earn around $85,500, according to Mortgagecalculator.com.

The median househould income in metro Denver is $73,271.

Builders were most active during the first quarter starting homes priced from $500,000 to $599,999. Those represented 22 percent of all starts in the first quarter in metro Denver, up from 18 percent in the first quarter of 2017. Homes priced in the $600,000 range also saw a big jump, going from 5 percent of starts to 9 percent.

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