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Monthly Archives: February 2008

Jackson names three local housing developments recipients of 2007 Best in American Living Award

WASHINGTON - February 11, 2008 - Three local housing developments in Blacksburg, Virginia; Palm Desert, California; and Denton Texas are the recipients of the 2007 Best in American Living Award for their design excellence and innovative approaches in affordable homeownership.

Sharp Decline in Housing and Mortgage Activity Expected Again This Year

In the second year of an ongoing housing recession, measures of housing activity deteriorated sharply. The 25 percent decline in total housing starts in 2007 nearly doubled the drop in 2006. The decrease was more pronounced in single-family starts, which were down 28.6 percent, compared with an 8.3 percent drop for multifamily starts.

Million-Dollar Starter Homes

Step into the Manhattan offices of Prudential Douglas Elliman, and you'll see potential buyers negotiating million dollar-plus apartment purchases

Million-Dollar Starter Homes

Step into the Manhattan offices of Prudential Douglas Elliman, and you'll see potential buyers negotiating million dollar-plus apartment purchases

What $1 Million Buys In Homes Across The U.S.

That's because nationwide, homeowners are slashing asking prices, often by significant margins, making this year's list of million-dollar properties much more palatable than those in years past. These homes are still beyond the means of the average American, but there's some comfort in a million-dollar home looking like a million-dollar home rather than a hastily built McMansion or a shoebox-sized studio apartment.

NAR Pushes for Homeownership Protection for Older Americans

WASHINGTON, February 13, 2008 - The National Association of Realtors testified today that foreclosure rescue scams have caused major problems for many Americans and that older Americans and other vulnerable borrowers are frequently targets. NAR called for increased funding for programs that provide financial assistance, counseling and consumer education to borrowers to help them avoid foreclosures and foreclosure rescue scams.

GREENGUARD 2008 Memorial Fellowship Winners Will Examine Design Process/Chemicals to Determine Affects on Health

GREENGUARD Environmental Institute (GEI), the pre-eminent brand in indoor air quality, congratulates the recipients for this year's Ken Dillon Memorial Fellowship for Indoor Environmental Quality Design.

The Real Estate Roundtable Praises

(WASHINGTON, D.C.) — "We applaud President Bush’s leadership and the swift bipartisan Congressional action to enact this important economic stimulus package. This legislation will spur consumer spending, provide additional refinancing options to homeowners, boost confidence and encourage businesses to accelerate investments.

DETROIT, STOCKTON, LAS VEGAS POST HIGHEST 2007 METRO FORECLOSURE RATES

RealtyTrac the leading online marketplace for foreclosure properties, today released its Year-End 2007 Metropolitan Foreclosure Report, which shows Detroit, Stockton, Calif., and Las Vegas documented the three highest foreclosure rates among the nation’s 100 largest metro areas during 2007.

Avoid These 5 Listing Presentation Pitfalls

Every listing presentation is a job interview. You are applying with the sellers for the opportunity to sell their home. And you need to convince them that you are the best real estate professional for the job.

In Milwaukee, A Foreclosure Glut

Via Marie Rohde and Ben Poston at the Milwaukee Journal Sentinel, a look at just how much foreclosure activity has impacted the local real estate market: After a record year for foreclosures, a stunning 1,000 Milwaukee County properties already have been scheduled for sheriff’s sales in the first nine weeks of 2008, with a record 200 put up for sale in just one day earlier this month, records show.

State Foreclosure Prevention Group Produces Report On Mortgage Loss Mitigation

WASHINGTON, D.C. -- The State Foreclosure Prevention Working Group, a multi-state task force organized last summer by Iowa Attorney General Tom Miller to work with subprime mortgage loan servicers to reduce the number of unnecessary foreclosures by encouraging loan modifications and other sustainable, long-term solutions, released its first subprime mortgage servicing performance data report on Thursday.

Mortgage Market Meltdown Raises Apartment Demand, But Financial Crisis Crimps Sales and Capital Availability...

WASHINGTON - The ongoing financial market turmoil and its spillover into the broader economy are having a mixed effect on the apartment sector, according to the National Multi Housing Council’s (NMHC) latest Quarterly Survey

Existing-Home Sales to Hold in Narrow Range, then Begin Upward Trend

WASHINGTON, February 07, 2008 - A continuation of soft market conditions is forecast for existing-home sales in the months ahead, with improvement expected by the second half of this year if loan limits are increased, according to the latest forecast by the National Association of Realtors

Fannie and Freddie Reform Will Significantly Impact Housing Market, Says NAR

WASHINGTON, February 07, 2008 - The National Association of Realtors today expressed ongoing support for legislative reform to Fannie Mae and Freddie Mac that would help stabilize the housing market and improve liquidity to the secondary nonconforming market. NAR stressed the importance of permanently increasing the loan limits as part of any reform package; that will help encourage healthier conditions in the housing market and strengthen the national GDP.

Top 10 Rural Places to Live

The Progressive Farmer magazine has released its annual rankings of best places to live in rural counties. The selection is based on school quality, access to health care, low crime, and affordable farmland.

Freddie Mac Sets New Multifamily Record for 2007 Transactions

McLean, VA - February 04, 2008 - Freddie Mac announced today that it purchaseda record $44.7 billion in new multifamily business transactions in 2007, a 55 percent increase over the 2006 volume of $28.8 billion. This volume includes approximately $3.7 billion in targeted affordable housing products, which finance apartments that receive some form of government subsidy.

REALTORS®, Mayors Recognize Miami-Dade for Virtual Housing Center

WASHINGTON, February 01, 2008 - The National Association of Realtors® and the U.S. Conference of Mayors have named Miami-Dade County an Ambassador City for its Housing Central Web portal. The virtual one-stop housing center connects residents with affordable homes and rental units and provides valuable information and resources for area families.

Bush Administration seeks $38.5 billion HUD budget in 2009

WASHINGTON – The Bush Administration’s Fiscal Year 2009 Budget seeks $38.5 billion for the U.S. Department of Housing and Urban Development, which represents a $3.2 billion or nine percent increase over the President’s proposed budget for FY 2008 and $1 billion more than HUD’s current budget authority.

MBA Reports Commercial/Multifamily Originations Down in Q4

Washington, DC - February 4, 2008 - Commercial and multifamily mortgage bankers' loan originations fell on a year-over-year basis in the fourth quarter, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Fourth quarter originations were sixteen percent lower than during the same period last year.

Business Real Estate Press Releases

Support Ukrainian Refugees

GFP Real Estate and Its Tenants Raise More Than $200,000 to...

GFP Real Estate is pleased to announce that its "Support Ukraine in Crisis" campaign raised more than $200,000 to support humanitarian relief efforts on the ground in Ukraine.

Recent Gov & Nonprofit Real Estate Press Releases