Monthly Archives: December 2010

Bankrate: Mortgage Rates Jump Again

NEW YORK, N.Y. - December 30, 2010 - (RealEstateRama) -- Mortgage rates climbed higher this week, with the average conforming 30-year fixed mortgage rising to 5.02 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points.

Rates Mostly Up in Freddie Mac Weekly Survey

McLean, VA - December 30, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which saw all but the 1-year ARM rise. This brings 30-year mortgage rates back to levels seen in May of this year, while the 15-year ties levels not seen since June. Even so, mortgage rates remain incredibly low

Pending Home Sales Continue Recovery, Gradual Improvement Seen in 2011

Washington, DC - December 30, 2010 - (RealEstateRama) --Pending home sales rose again in November, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the National Association of Realtors®

NAHB Announces Light Commercial Construction Awards of Excellence

WASHINGTON, D.C. - December 29, 2010 - (RealEstateRama) -- A fanciful castle, two major hotel renovations and a medical office that features a nod to local historic architectural styles are among the winners in this year’s National Association of Home Builders (NAHB) Awards of Excellence.“Even as we recover from the economic slump in the commercial building sector, the best projects in the industry continue to impress the judges for their innovation, efficient use of materials and overall construction excellence,” said Carl Harris, chair of the NAHB’s National Commercial Builder Council, which sponsors the awards each year

Diane Turton, Realtors Collects Gifts & Donations For Needy Children As Part of Company’s...

POINT PLEASANT BEACH, NJ - December 29, 2010 - (RealEstateRama) -- During Diane Turton, Realtors’ sixth annual Turton Giving Tree project, the company collected unwrapped toys and gifts for local children who are in need as well as monetary donations that will go towards feeding needy families in the area.

Justice Department Settles Disability Discrimination Case Against Property Management Company for $1.25 Million

WASHINGTON, DC - December 28, 2010 - (RealEstateRama) -- The Justice Department today announced a $1.25 million agreement with Warren Properties Inc., Warren Village (Mobile) Limited Partnership and Frank R. Warren to settle allegations that the defendants violated the Fair Housing Act by refusing to grant a tenant’s requests for a reasonable accommodation. This settlement is the largest ever obtained by the department in an individual housing discrimination case.

State of South Dakota Receives $2.6 Million in Affordable Housing Funds

Des Moines, IA - December 28, 2010 - (RealEstateRama) -- Communities throughout the state of South Dakota were recently awarded $2.6 million in affordable housing grants through the Federal Home Loan Bank of Des Moines Affordable Housing Program (AHP)....

Federal Reserve Should Withdraw Proposals that Enable Loan Scams on Senior Citizens

Washington, D.C. - December 28, 2010 - (RealEstateRama) -- Proposed changes to home lending rules from the Federal Reserve Board not only exceed its authority, but could actually encourage predatory lending targeted at the elderly.

Innovative IDX Broker software syncs thousands of property listings instantly on Gulf Coast realty...

EUGENE, OR - December 28, 2010 - (RealEstateRama) -- Mobile, Alabama real estate Alexa Kennedy has chosen to upgrade her professional website by adding a custom IDX solution to her search page, thanks to IDX, Inc. and the IDX Broker software they supply to her. Gulf Coast Alabama MLS (GCAMLS) listings are automatically synced to her search capabilities, with the dynamic IDX solution Kennedy now employs. Finding homes online was once a daunting and incomplete task. But now, with IDX Broker, home seekers can experience the most thorough and efficient online search from the convenience of the website of Kennedy.

Federal Housing Finance Agency Reports Mortgage Interest Rates

Washington, DC - December 28, 2010 - (RealEstateRama) -- The Federal Housing Finance Agency today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.42 percent based on loans closed in November. This is a decrease of 0.07 percent from the previous month.

NAR’s Second Century Ventures Invests in Ifbyphone

Chicago, IL - December 28, 2010 - (RealEstateRama) -- The National Association of REALTORS® has invested in Ifbyphone through its strategic investment fund, Second Century Ventures. As part of the arrangement, NAR is also collaborating with Ifbyphone to develop solutions that enhance voice interactions for its more than 1.1 million REALTOR® members.

Realtors® Reflect on 2010; Ready for 2011

Washington, DC - December 27, 2010 - (RealEstateRama) -- 2010 has been a year of real estate contrasts. While many consumers have taken advantage of historic buying opportunities and the market has seen a gradual stabilization of sales and prices, other challenges facing the nation have led some to question the value of home ownership for families, communities, and the country.

NEW HAMPSHIRE awarded $2.1 MILLION

BOSTON, MA - December 24, 2010 - (RealEstateRama) -- The Federal Home Loan Bank of Boston announced that a Manchester initiative will receive more than $2.1 million through its Affordable Housing Program. These funds, awarded in the form of a grant, loan, and interest-rate subsidy, will be used to finance 26 units of affordable rental housing for formerly homeless veterans earning at or below 50 percent of area median income.

New Hampshire Housing wants your home buying story!

BEDFORD, N.H. - December 23, 2010 - (RealEstateRama) -- New Hampshire Housing’s Single Family Mortgage Program will soon be celebrating 35 years of service! To help mark this milestone, the agency is seeking success stories from its current and past clients to show the world how this program has allowed real people to achieve their dreams.

Bankrate: Mortgage Rates Dip Below 5 Percent

NEW YORK, N.Y. - December 23, 2010 - (RealEstateRama) -- Mortgage rates pulled back slightly this week, with the average rate on the benchmark conforming 30-year fixed mortgage rate receding to 4.96 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.46 discount and origination points.

Mortgage Rates Ease Back a Little This Week

McLean, VA - December 23, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its (PMMS®), which found that both fixed-rate mortgage rates eased slightly this week. The 5-year hybrid ARM dropped back slightly, but the 1-year ARM rates were up

Freddie Mac Issues Monthly Volume Summary for November 2010

McLean, VA - December 23, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today issued the company's Monthly Volume Summary for November 2010. The summary, available on the company's Web site at, provides information on Freddie Mac's mortgage-related portfolios, securities issuance, risk management and delinquencies, including data on seriously delinquent mortgage loans in related mortgage Participation Certificate (PC) pools.

New-Home Sales Rise 5.5 Percent In November

WASHINGTON, D.C. - December 23, 2010 - (RealEstateRama) -- Sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November, according to newly released figures from the U.S. Commerce Department. The gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in October.

Governor Jindal and Affiliated Mortgage Company Announce Major Expansion in Monroe

MONROE, LA - December 23, 2010 - (RealEstateRama) -- Today, Governor Bobby Jindal joined Benchmark Bank Chairman and CEO Mike Barnett, Affiliated Mortgage Co. President Dan Hastings and Monroe Mayor Jamie Mayo to announce that Benchmark Bank’s subsidiary, Affiliated Mortgage Company (AMC) of West Monroe, has committed to retain and expand its operations in Northeast Louisiana.

SAFE Act Mortgage Originator Registration Update

Alexandria, VA - December 23, 2010 - (RealEstateRama) -- The initial period for federal registration of residential mortgage loan originators under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”), 12 U.S.C. 5101–5116, is expected to begin on or around January 31, 2011, and end on or around July 29, 2011. The National Credit Union Administration, along with the Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency, Office of Thrift Supervision, and Farm Credit Administration will publish an announcement on our respective Web sites confirming the start date of this registration period shortly before the period begins, followed by a notice published in the Federal Register

Popular

Affordable Housing Comes to U Street with the Funding of Portner...

On July 7th, the District of Columbia Housing Finance Agency (DCHFA) closed on the financing of an affordable housing development in one the District’s most sought after neighborhoods, the U Street Corridor. The Agency issued $27 million in short term DCHFA tax exempt bonds providing a portion of the funding for the acquisition of Portner Place and construction of Portner Flats (1440-1450 V Street, NW) located in Ward 1, one block west of The Frank D. Reeves Municipal Center at 14th and U Streets, NW

Recent

Grovemont Square

Lee & Associates Completes Sale of Multi-Tenant Retail Shopping Center in...

Lee & Associates, a national commercial real estate brokerage firm, announced today that the company represented the buyer and seller in the sale of Grovemont Square, a 29,030-square-foot multi-tenant retail shopping center at 2428 North Grand Avenue in Santa Ana, Calif. The sale price was $4,730,000, representing a cap rate of 4.26 percent.