Covington, LandCo join forces to launch homes’ project, an article from the Colorado Springs Business Journal, reports that housing and building executive Ron Covington has opened Ron Covington Homes as a new division of LandCo Equity Partners.  Covington said his new firm has already broken ground on a 90-lot development at Broadmoor View in Spring Creek.  Catering to first-time and first-move-up buyers, a series of 57 multi-family and 33 single family homes are being built.  The attached "brownstones" built in duplex, triplex and quad configurations, will be priced from the mid-$100s, according to Covington.  Prices on the Traditions single-family homes with attached garages will range from the high $100s to the low $200s.  The builder also plans to offer a dozen homes on premium lots at The Vistas, along the Spring Creek perimeter, ranging in price from $230,000 to $250,000.  Future plans for the company include a patio home community at Sorrento, adjacent to Briargate’s Cordera, and development of two models at Grey Hawk.
http://www.csbj.com/story.cfm?ID=19900

Realty Viewpoint: Show HomeBuyers How Rewards Outweigh Risks, an article from RealtyTimes.com, reports that Americans have been scared by economists that housing still has a long way to go before it hits bottom, which puts the housing industry in a tough spot.  Realtors, builders and sellers need to convince buyers that now is a good time to buy.  Also, the industry needs to prove to buyers that purchasing real estate is still a sound investment.  Buyers are on the sidelines because they are so focused on the risk, they are missing out on the rewards.  Unlike any other investment, homeownership is heavily subsidized by the U.S. government in tax relief, which more than offsets most if not all equity losses incurred by falling markets.  Yearly tax benefits can more than make up for temporary losses in equity.  If renters are waiting to buy, they are losing money.

http://realtytimes.com/rtpages/20080509_realtyviewpoint.htm

Additional articles that you may find of interest:

County considers selling park land to raise revenue
http://www.gazette.com/articles/county_36114___article.html/park_tax.html

House OKs controversial housing plan
http://money.cnn.com/2008/05/08/news/economy/frank_omnibus_housing_bill_vote/index.htm?postversion=2008050818

Americans split on homeowner bailout - poll
http://money.cnn.com/2008/05/08/real_estate/mortgage_poll/index.htm?postversion=2008050812

Mortgage rates edge down slightly
http://www.msnbc.msn.com/id/7148582/

Real Estate Outlook: State of the Economy
http://realtytimes.com/rtpages/20080509_realestateoutlook.htm