Monthly Archives: July 2011

Second Quarter Numbers Show Federal Home Loan Banks Supporting Economy

Washington, DC - July 29, 2011 - (RealEstateRama) -- Figures released today demonstrate the Federal Home Loan Banks continue to support housing, jobs and economic growth by channeling capital from global markets to consumers and communities, according to the trade group representing the 12 regional cooperatives.

Gloria Nilson Closes Landmark Home Sale in Rumson

July 29, 2011 - (RealEstateRama) -- The $12 million sale price for Long Point in Rumson, N.J., has secured Kelly Zaccaro’s place in the annals of real estate history. On the heels of four continuous months of improving national home sale numbers, Zaccaro, a veteran sales associate with the Rumson office of Gloria Nilson, REALTORS®, Real Living – the leading high-end real estate brokerage in central New Jersey – recently closed the single largest residential real estate transaction in the history of Rumson.

LISC names MA state housing leader as Executive VP of Programs

NEW YORK, NY - July 29, 2011 - (RealEstateRama) -- The Local Initiatives Support Corporation (LISC) has named Tina Brooks, undersecretary for housing and community development for the Commonwealth of Massachusetts, as its new executive vice president for programs.

USAA Real Estate Company Affiliate, RXR Realty and Broadway Partners Form Joint Venture to...

San Antonio, TX - July 29, 2011 - (RealEstateRama) -- U.S. Republic Core Fund, an affiliate of USAA Real Estate Company, RXR Realty and Broadway Partners today announced the recapitalization of 340 Madison Avenue, an approximately 750,000-square-foot Class A office building located in Midtown Manhattan’s Grand Central submarket.

Up to $50,000 Available to Help Pay Your Mortgage

BOISE, ID - July 29, 2011 - (RealEstateRama) -- Do you need help with your mortgage payments? Emergency Homeowners’ Loan Program (EHLP) funds are available through the Idaho Housing and Finance Association (IHFA) to assist qualified unemployed or ...

Realtors Urge Action on Debt Ceiling

Washington, DC - July 29, 2011 - (RealEstateRama) -- The following is a statement by National Association of Realtors® President Ron Phipps. “The National Association of Realtors®, on behalf of its 1.1 million members, their clients and customers, and the nation’s 75 million homeowners, urges Congress to resolve the mounting debt ceiling crisis before the August 2 deadline.

PROPERTY ASSESSMENT ROLL INCREASES AFTER TWO YEARS OF DECLINE

Los Angeles, CA - July 29, 2011 - (RealEstateRama) -- Los Angeles County Assessor John R. Noguez today announced the 2011 Assessment Roll reflecting a 1.49 percent increase in value, ending two years of decline and producing a property roll of more than a trillion dollars for Los Angeles County. The $1,105,742,244,670 gross total property roll is $16.2 billion greater than last year.

Modesto Man Indicted for Mortgage Fraud Scheme

FRESNO, CA - July 29, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that a federal grand jury returned a two-count indictment today charging Tony Huy Havens, 37, of Modesto, with conspiracy to commit mail fraud and mail fraud in a mortgage fraud scheme.

Matthew La Madrid Sentenced for His Role Masterminding $30 Million Ponzi Scheme and Mortgage...

July 29, 2011 - (RealEstateRama) -- United States Attorney Laura E. Duffy announced that Matthew “Beau” La Madrid was sentenced today by U.S. District Court Judge William Q. Hayes to serve a lengthy federal prison term in connection with his operation of the Plus Money Premium Return Funds (“PRF”) and related real estate investment and mortgage fraud schemes. The defendant entered his guilty plea on January 3, 2011.

NEW INDUSTRIAL DEVELOPMENT PLANNED FOR DCT INDUSTRIAL TRUST LAND ACQUISITION

Miami, FL - July 29, 2011 - (RealEstateRama) -- DCT Industrial Trust, Inc. purchased 14.68 acres of land from Jacksonville-based, Everbank, for $6,260,000. The two parcel property had a staged closing with the first phase occurring July 19. The second phase is slated to close by year end. DCT Industrial plans to develop industrial distribution space for lease. The site is located in the Doral/Airport submarket.

Connecticut River Expedition For Real Estate Investors

West Hartford, CT - July 29, 2011 - (RealEstateRama) August 23, 2011 Boat departs at 5:30pm sharp Only $45 - Space Is Limited Eagle Landing State Park 14 Little Meadow Rd. Haddam, CT (Exit 7 off of Route 9)

Lee & Associates Welcomes Three Associates to Newport Beach Office

Torrance, CA - July 29, 2011 - (RealEstateRama) -- Lee & Associates, one of the largest national commercial real estate providers with regional expertise, welcomes three commercial real estate experts to the Newport Beach office. With more than 15 years of combined experience, Judd Hietbrink, Wyatt Prichard and Justin Wegnes specialize in industrial and office brokerage.

HUD SECRETARY ANNOUNCES AVAILABILITY OF $95 MILLION FROM SUSTAINABLE COMMUNITIES GRANT PROGRAMS

WASHINGTON, DC - July 29, 2011 - (RealEstateRama) -- Today, U.S. Housing and Urban Development Secretary Shaun Donovan announced the availability of $95 million to support sustainable local initiatives through the FY 2011 Regional Planning and Community Challenge Planning Grant Programs from HUD’s Office of Sustainable Housing and Communities. Awarded competitively, both programs work to expand housing choices, improve connections between employment centers and homes, and reduce barriers to achieving affordable, economically vital, and sustainable communities.

Lee & Associates Transacts 15,510 Square Foot Office Lease in Oxnard, CA

OXNARD, CA - July 29, 2011 - (RealEstateRama) -- Lee & Associates-LA North/Ventura, Inc. Principals John Ochoa, SIOR, and Grant Harris and Vice President David Kim transacted a 15,510-square-foot office lease that will bring the first Laurus College campus to Ventura County.

Homeownership Tax Benefits Must Be Preserved, Say Realtors®

Washington, DC - July 29, 2011 - (RealEstateRama) -- Any changes to the mortgage interest deduction now or in the future could threaten recent progress toward stabilizing the housing market, critically erode home prices and values, destroy middle-class wealth accumulation and hurt economic growth.

NAR and NHC Bring Workers Home Through Workforce Housing Forum

Washington, DC - July 29, 2011 - (RealEstateRama) -- Public and private sector workers in the Northeast need more affordable housing opportunities. In response, the National Association of Realtors®, in partnership with the National Housing Conference, will host a regional forum today in Boston to help develop solutions to workforce housing issues

Federal Proposal Could Raise Refinance Costs for Nearly 25 Million Homeowners

WASHINGTON, D.C. - July 29, 2011 - (RealEstateRama) -- Nearly 25 million homeowners across the country would face more expensive mortgages if a proposal by federal regulators goes unchanged. A proposal released by six federal agencies to implement credit risk retention provisions included in the Dodd–Frank Wall Street Reform and Consumer Protection Act would require homeowners to have at least 25 percent equity in their homes in order to qualify for a lower-rate "Qualified Residential Mortgage" (QRM) for refinancing. An analysis of the CoreLogic data shows 24.8 million U.S. homeowners – more than half of all U.S. homeowners with a mortgage - have less than 25 percent equity in their homes.Homeowners looking to refinance but fail to qualify for a QRM will be subject to additional costs associated with lenders' risk retention requirements included in the Dodd-Frank bill. According to the National Association of REALTORS®, consumers in a non-QRM loan could pay between 0.80 and 1.85 percentage points more in interest rate, simply because they could not meet the down payment or equity requirements.

Office-Using Employment Gains, Reliance on Concessions to Nudge Down Phoenix Vacancy in Second Half

Phoenix, AX - July 29, 2011 - (RealEstateRama) -- Although office net absorption in Phoenix remains negative year to date, the local economic recovery gained traction in the second quarter. Businesses added 14,900 positions locally, a 0.9% staffing boost, in the past six months, compared to a nationwide increase of 757,000 jobs, or 0.6%. Improvements have been greatest in the Valley’s healthcare and leisure and hospitality sectors, with white-collar industries dampening overall growth through the first quarter of 2011. Nevertheless, Phoenix white-collar employers rebounded in the most recent quarter. Local office-using employment sectors augmented payrolls by an estimated 2,800 workers, a 0.7% quarterly gain, mirroring the healthy white-collar improvements that have been recorded nationally. Recent hiring announcements from companies including Safelite, Humana, Yelp and Easy Energy Systems Inc. support projections for a sturdy, albeit late, white-collar recovery through year end, helping to stabilize space demand. U.S. emp loyment will increase by a projected 1.65 million jobs in 2011, including to 39,000 positions in Phoenix, a 2.3% marketwide gain. Local white-collar sectors are anticipated to hire 5,600 workers, growth of 1.3%.

84 Percent of U.S. Metros Post Lower Foreclosure Activity in First Half of 2011

IRVINE, CA - July 28, 2011 - (RealEstateRama) -- RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today released its Midyear 2011 Metropolitan Foreclosure Market Report, which shows that foreclosure activity decreased on a year-over-year basis in 178 out of the nation’s 211 metropolitan areas with a population of 200,000 or more. The report also shows that all top 10 metro areas with the highest foreclosure rates in the first half of the year posted decreasing foreclosure activity compared to the first half of 2010.

MBA Statement on Debt Ceiling Negotiations

WASHINGTON, D.C. - July 28, 2011 - (RealEstateRama) -- David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA) issued the following statement today.

Kerry, Brown, McGovern, Capuano: $2 Million for Housing Help for Veterans in Worcester and...

BOSTON, MA - July 28, 2011 - (RealEstateRama) -- Senators John Kerry and Scott Brown, along with Congressmen Jim McGovern and Michael Capuano, today announced that two organizations that help homeless veterans in Massachusetts will receive two million dollars from the U.S. Department of Veterans Affairs to improve housing and expand support services for those with very low incomes.

June Massachusetts Home Sales Down as Prices Continued to be More Affordable

WALTHAM, MA - July 28, 2011 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that June sales were down from the same time last year, but up from this past May. Median prices for single-family homes were down less than two percent on a year-over-year basis, but continue to go up from the month before. While condominium sales were also down on a year-over-year basis, median prices were up for the third straight month. Condominium month-to-month sales and median prices were both up as well.

Americas Hotel Transaction Volume Up Approximately 180 Percent to $7.4 Billion in First-Half 2011

CHICAGO, IL - July 28, 2011 - (RealEstateRama) -- Jones Lang LaSalle Hotels today reported that the volume of hotel investment transactions that closed in the Americas market in the first six months of 2011 reached $7.4 billion—a robust increase of approximately 180 percent on the same prior-year period. The numbers represent preliminary totals from Jones Lang LaSalle Hotels’ Hotel Investment Highlights Americas report due to be released later this month. The firm’s research tracks hotel asset transactions in excess of $10 million, and excludes note sales, recapitalizations and foreclosures.

FLORIDA’S COMMERCIAL REAL ESTATE MARKETS TODAY: UP, DOWN AND IN BETWEEN

Miami, FL - July 28, 2011 - (RealEstateRama) -- Market conditions have improved across Florida, but with little consistency between product types and classes, as reported by the CBRE 2Q 2011 Statewide MarketViews released today. CBRE MarketViews report on commercial real estate trends in the Florida. Markets tracked include Jacksonville, Orlando, Tampa Bay, and South Florida.

Jerry Seinfeld selling Colorado property for US$18.25 million

July 28, 2011 - (RealEstateRama) -- Jerry Seinfeld, the star and co-creator of hit US television show ‘Seinfeld’, has put his Colorado estate on the property market for US$18.25 million. Nestled in the Rocky Mountains and described as “an evolv...

Attorney General files suit against California foreclosure consultant

SHELBYVILLE, IN - July 28, 2011 - (RealEstateRama) -- Indiana Attorney General Greg Zoeller was in Shelbyville today to file a complaint against a California-based foreclosure consultant company. According to the lawsuit, homeowners in seven India...

Congresswoman Hirono, Congresswoman Hanabusa, and Congressman Young Introduce Measure Supporting Native Hawaiian Homeownership

Washington, DC - July 28, 2011 - (RealEstateRama) -- Hawaii Congresswomen Mazie K. Hirono and Colleen Hanabusa and Alaska Congressman Don Young today introduced a bipartisan bill to continue programs providing housing assistance for low-income Native H...

Building Services to change days for inspections

TAVARES, FL - July 28, 2011 - (RealEstateRama) -- Beginning Monday, Aug. 1, the Lake County Department of Growth Management, Building Services Division, located on the fifth floor of the Lake County Administration Building at 315 W. Main St. in Tavares, will change the days that building inspections are performed to Monday, Tuesday, Thursday and Friday

ABA SUBSIDIARY NAMES AKLERO EXCLUSIVE MORTGAGE QUALITY CONTROL SERVICE PROVIDER

WASHINGTON and FT. WASHINGTON, Pa. - July 28, 2011 - (RealEstateRama) -- Business Solutions, a subsidiary of the American Bankers Association, named Aklero Risk Analytics, a provider of automated data and document validity assurance for the mortgage industry, the exclusive provider of mortgage quality control services to its members.

Major National Landscaping Firm Enters L.A. Market With Acquisition of Dworsky Cos.

Los Angeles, CA - July 28, 2011 - (RealEstateRama) -- Marking its entrance into the Los Angeles market, national landscape services provider The Brickman Group has acquired Dworsky Cos., one of L.A.’s leading commercial landscape services firms. The acquisition of Dworsky, a family-owned company founded in 2002, gives Brickman a stronger foothold in the Southern California market — with more than 1,000 employees — as it builds upon its nationwide expansion. Dworsky is headed by Founder Dave Dworsky, who in his 20 years in the industry has stamped an expansive mark servicing the Greater Los Angeles area. The terms of the acquisition were not disclosed.

Popular Government & Nonprofit Press Releases

NeighborWorks America

NeighborWorks lending efforts get boost from more than $18 million in...

Twenty-five NeighborWorks organizations around the country have received more than $18 million as part of grants from the U.S. Department of the Treasury’s Community Development Financial Institution (CDFI) program. Combined with grants from the Neighborhood Reinvestment Corp. (dba NeighborWorks America), local governments, foundations and the private sector, the funds will allow these small- and medium-sized nonprofit businesses to continue to provide affordable loan products and services to low- and moderate-income borrowers.

Recent Government & Nonprofit Press Releases

ABC National

ABC CEO Mike Bellaman Appointed to Task Force on Apprenticeship Expansion...

Michael D. Bellaman, president and CEO of Associated Builders and Contractors (ABC), has been appointed by U.S. Department of Labor Secretary R. Alexander Acosta  to the Task Force on Apprenticeship Expansion, created by President Trump’s June 15 Executive Order 13801.