Housing & Development

Housing & Development

Written Testimony of Chief of Homeownership Preservation Office Phyllis Caldwell

WASHINGTON, D.C. - February 16, 2011 - (RealEstateRama) -- Chairwoman Biggert, Ranking Member Gutierrez and Members of the Subcommittee, thank you for the opportunity to testify today. I appreciate the opportunity to share insights resulting from the Administration’s efforts to mitigate the effects of the most serious housing crisis since the Great Depression.

Multifamily Construction Boosts Housing Starts in January

WASHINGTON, D.C. - February 16, 2011 - (RealEstateRama) -- Nationwide housing starts rose 14.6 percent to a seasonally adjusted annual rate of 596,000 units in January, according to figures released by the U.S. Commerce Department today. The gain was entirely due to a 77.7 percent increase in the multifamily sector, where significant month-to-month swings in activity are not unusual and where new building has been below expectations for the past several months. Meanwhile, single-family housing starts remained virtually flat for the month, with a 1.0 percent decline.

Statement from the Campaign for Housing and Community Development Funding on President Obama’s FY12...

WASHINGTON, D.C. - February 16, 2011 - (RealEstateRama) -- Yesterday President Barack Obama released his FY12 budget, which would freeze non-defense discretionary spending for five years in an effort to reduce the budget deficit. While some housing and community development programs are spared the knife, critical HUD programs that provide housing stability, promote economic mobility and job creation, and stabilize communities would be significantly reduced


WASHINGTON, DC - February 16, 2011 - (RealEstateRama) -- In an effort to promote a new generation of data-driven and evidence-based policymaking, U.S. Housing and Urban Development Secretary Shaun Donovan today unveiled a new quarterly publication intended to inform housing and community development advocates, state and local policymakers, Congress and researchers on new approaches to issues related to housing and community development. Evidence Matters is an objective, unbiased publication intended to inform the broad housing and community development field on future policy directions based on research and data – in short, the evidence

House FY11 Budget Bill Slashes and Burns Federal Housing Safety Net

February 15, 2011 - (RealEstateRama) -- The House of Representatives is expected to vote on its FY11 spending bill, H.R. 1, this week. The bill would cause devastating reductions to non-defense discretionary programs and cut more than $5.7 billion from HUD programs compared to the FY10-enacted level of about $43.5 billion. In addition, the bill would make more than $394 million in rescissions from unobligated balances in HUD programs.

FHFA Posts Discussion Documents on Mortgage Servicing Compensation Initiative

Washington, DC - February 15, 2011 - (RealEstateRama) -- The Federal Housing Finance Agency on Jan. 18 announced a joint initiative to consider alternatives for a new mortgage servicing compensation structure. As part of that effort, FHFA has established a dedicated web link to post information, including background materials and issues for consideration


WASHINGTON, DC - February 15, 2011 - (RealEstateRama) -- As part of ongoing efforts to strengthen the Federal Housing Administration’s (FHA) capital reserves, FHA Commissioner David H. Stevens today announced a new premium structure for FHA-insured mortgage loans increasing its annual mortgage insurance premium (MIP) by a quarter of a percentage point (.25) on all 30- and 15-year loans. The upfront MIP will remain unchanged at 1.0 percent. This premium change was detailed in President Obama’s fiscal year 2012 budget, also released today, and will impact new loans insured by FHA on or after April 18, 2011.

Builder Confidence Unchanged for Fourth Consecutive Month in February

WASHINGTON, D.C. - February 15, 2011 - (RealEstateRama) -- Builder confidence in the market for newly built, single-family homes remained unchanged at 16 for a fourth consecutive month in February, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. "While builders are starting to see more interest among potential home buyers, we are also dealing with a multitude of challenges, including competition from foreclosure properties and inaccurate appraisals of new homes, which are limiting our ability to sell," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "On top of that, an extremely tight lending environment continues to make it almost impossible to obtain credit for viable new and existing projects, and most do not see that situation improving anytime soon."

Home Buyer Tax Credit Repayment Begins for 2008 Buyers

WASHINGTON, D.C. - February 15, 2011 - (RealEstateRama) -- Most home buyers who claimed the federal tax credit of up to $7,500 for buying their first home in 2008 are required to start repaying the credit in 15 annual installments, beginning with their 2010 tax returns. The credit—some form of which was offered for qualified home purchases in 2008, 2009 and 2010—has different repayment rules depending on when and under what circumstances the home was purchased. As tax season approaches, this may cause confusion among home buyers who received the tax credit.

Joanne Theunissen Elected Chair of NAHB National Sales and Marketing Council

WASHINGTON, D.C. - February 15, 2011 - (RealEstateRama) -- Joanne Theunissen, CGP, has been elected 2011 Chair of the National Association of Home Builders (NAHB) National Sales and Marketing Council. The announcement was made Jan. 11 at the International Builders’ Show in Orlando, Fla. Theunissen is owner/designer for Howling Hammer Builders, Inc. in Mount Pleasant, Mich., and is also an active member of the HBA of Central Michigan and the Michigan Association of Home Builders.

New Report Looks at Link Between Development Density and Climate Change

WASHINGTON, D.C. - February 15, 2011 - (RealEstateRama) -- Existing research on development patterns and transportation provides no causal link between residential land use and greenhouse gas emissions and leaves tremendous uncertainty as to the interplay of these factors, according to a new publication from the National Association of Home Builders (NAHB). The publication, “Climate Change, Density and Development,” provides a fact-based overview of the state of research on the relationship between development, density, transit and the production of greenhouse gases.

Thomas Vetter Elected Chair of NAHB Institute of Residential Marketing

WASHINGTON, D.C. - February 15, 2011 - (RealEstateRama) -- Thomas Vetter, MIRM, Master CSP, CMP, CSP, has been elected 2011 Chair of the National Association of Home Builders’ (NAHB) Institute of Residential Marketing, the education branch of the National Sales and Marketing Council (NSMC). The announcement was made Jan. 11 at the NAHB International Builders’ Show in Orlando, Fla.

Reed Statement on Housing Finance Reform Plan

WASHINGTON, DC - February 14, 2011 - (RealEstateRama) -- Today, after the U.S. Treasury Department issued a white paper proposing several pathways to reform the mortgage markets, U.S. Senator Jack Reed (D-RI) issued the following statement

The American Institute of Architects Issues Statement on Obama Administration’s Fiscal 2012 Budget

Washington, D.C. - February 14, 2011 - (RealEstateRama) -- The American Institute of Architects (AIA) today issued the following statement on the fiscal 2012 budget President Obama presented to Congress this morning

Housing Policy Council Statement on Administration’s Proposal for GSE Reform

Washington, D.C. - February 14, 2011 - (RealEstateRama) -- In response to the Administration's release of its report, “Reforming America’s Housing Finance Market”, John H. Dalton, President of the Housing Policy Council issued this statement:

Business Real Estate Press Releases

Boot Barn Jackson TN

The Boulder Group Arranges Sale of Net Lease Boot Barn

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Boot Barn property located at 1775 Vann Drive in Jackson, Tennessee for $2,000,000.

Recent Gov & Nonprofit Real Estate Press Releases

Minneapolis Mill City Museum

Why Minneapolis is a Great Place to Buy a Home

Whether you are looking for a place to buy your first home or you think it’s a good time to invest in real estate for monetary gain, choosing the right location is critical. Not all towns and cities are equal. In some, the crime rates are horrific. In others, employment opportunities are lacking.