News
Property, Rentals, Transactions

Existing-Home Sales Bounce Back Strongly in May as First-time Buyers Return

Fueled partly by an increase in the share of sales to first-time buyers, existing-home sales increased in May to their highest pace in nearly six years, according to the National Association of Realtors®. Led by the Northeast, all major regions experienced sales increases in May.

Mayor Garcetti Announces Public Online Access to Building Records

As a part of his back to basics agenda, Mayor Eric Garcetti today announced a new customer service tool from the Los Angeles Department of Building and Safety (LADBS), the LADBS Online Building Records system, which will offer users a quick and easy way to research building records and obtain digital images of original documents online.

Highway Funds Would Spur Foreign Investment in U.S. Real Estate

NMHC/NAA this week joined our real estate partners in urging Congress to reduce the barriers of the Foreign Investment in Real Property Tax Act (FIRPTA) on foreigners investing in U.S. real estate as they consider extending highway funding beyond July. Specifically, because FIRPTA relief would spur billions of dollars in infrastructure spending, it would be a natural fit for legislation designed to finance a long-term reauthorization of highway spending.

AT&T EXTENDS U-VERSE WITH AT&T GIGAPOWERS TO MORE MULTIFAMILY PROPERTIES

Apartment and condo residents could soon enjoy the benefits of ultra-fast Internet service, with speeds up to 1 gigabit per second.* AT&T** is working with property owners, management groups and developers to reach agreements to deliver U-verse with AT&T GigaPower to additional new and existing multifamily living units

International Sales Dollar Volume Increases as More Upscale Buyers Enter Market, Say Realtors

While total unit sales from international home buyers decreased from last year, total sales dollar volume increased 13 percent, according to the National Association of Realtor Profile of Home Buying Activity of International Clients

Realtors® Applaud CFPB Extension of TRID Implementation

National Association of Realtors® President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark., released the following statement in response to the Consumer Financial Protection Bureau’s announcement of a two-month delay for the implementation of the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure, or TRID, regulation.

New Affordable Apartment Community Taking Applications One Week in June

Bend, OR. EPIC Property Management, LLC (EPIC) is excited to announce the lease-up of The Parks at Eastlake, an affordable apartment community located on Bend’s east side behind Eastlake Village. The development provides Bend with new affordable housing for 40 households. As an affordable property, income restrictions will apply and rents will be well below market rates. The 40 units will serve Central Oregon resident households earning less than 50% and 60% of the Area Median Income.

Home of Cancer Survivor Repaired with $5K Grant from BNA Bank, FHLB Dallas

The run-down condition of Ruby Bailey's house was the last thing on her mind while fighting and beating pancreatic cancer, undergoing surgeries, and losing her sister. She would just cover her home's old windows and doors with plastic as needed to keep out drafts

Realtors® Report Increase in Commercial Transactions, Income and Sales Volume

Commercial real estate markets are improving with Realtors® specializing in commercial real estate reported an increase in annual gross income, the number of sales transactions and sales volume, according to the 2015 National Association of Realtors® Commercial Member Profile.

NATIONAL ASSOCIATION OF REAL ESTATE BROKERS DEMANDS FOR MORE ACTION TO CLOSE HOMEOWNERSHIP GAP BETWEEN WHITES AND BLACKS IN THE U.S.

The National Association of Real Estate Brokers (NAREB) announced today its concerns regarding the racial disparities in homeownership rates in the United States. Throughout the month of June, politicians, policy makers, financial institutions and organizations throughout the country will be hosting and participating in events, rallies and ceremonies that highlight the importance of homeownership. NAREB is offering solutions to increase Black homeowner rates.

Change in LIHEAP continues to pay off

The Department of Health and Human Services released the final distribution of this year’s Low Income Home Energy Assistance Program funds to the Commonwealth on Thursday, bringing the fiscal 2015 total to $213,354. LIHEAP helps about 400 of our low-income families pay CUC and cover other energy expenses. The grant is now four times higher than in 2013, making more families eligible and doubling the average monthly benefit.

CFPB Takes First Steps Toward Greater Clarity on RESPA-TILA Integrated Disclosure Enforcement

The following is a statement from National Association of Realtors® President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark., in response to the Consumer Financial Protection Bureau’s announcement of “sensitivity” to companies making a good-faith effort to comply with the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure regulation.

NAR Member Survey Reveals Slight Dip in Realtor® Business in 2014

After gradually climbing for three consecutive years, the decline in existing-home sales in 2014 resulted in a slight reduction in Realtor® business activity and income last year, according to the 2015 National Association of Realtors® Member Profile. The survey also found that Realtors® are increasingly more comfortable using multiple communication channels, including social media, to connect and interact with their clients.

PLASKETT ANNOUNCES $2.3 MILLION IN FEDERAL FUNDING TO VIRGIN ISLANDS PORT AUTHORITY

Virgin Islands Delegate to Congress Stacey E. Plaskett announced today that the Virgin Islands Port Authority is set to receive $2.3 Million in federal funding to construct an aircraft rescue and fire fighting building at the Henry E. Rohlsen Airport (HERA) in St. Croix.

GRESB Introduces Green Bond Guidelines for the Real Estate Sector

GRESB, the leading standard for sustainability performance measurement and benchmarking in the real estate industry, today released Green Bond Guidelines for the Real Estate Sector. The Guidelines complement the Green Bond Principles (GBP) by providing specific real estate and construction sector guidance for capital market participants when originating and/or investing in green bonds.

RI Delegation Announces $412,500 NOAA Grant to Purchase Unprotected Land on Prudence Island

U.S. Senators Jack Reed and Sheldon Whitehouse and Congressmen Jim Langevin and David Cicilline announced $412,500 in funding from the National Oceanic and Atmospheric Administration (NOAA) that will go toward the purchase of 103 acres of land on Prudence Island for inclusion in the Narragansett Bay National Estuarine Research Reserve (NBNERR) – thus protecting it from future development.

RI Delegation Announces Funding for Harrisville Fire Department and Cumberland Rescue Service

Senators Jack Reed and Sheldon Whitehouse and Congressmen Jim Langevin and David Cicilline announced $48,000 in federal funding to upgrade equipment for firefighters in Harrisville and emergency medical responders in Cumberland.

USDA Celebrates National Homeownership Month

Agriculture Secretary Tom Vilsack today kicked off National Homeownership Month by highlighting USDA's ongoing role to help residents of America's small towns and cities purchase homes in rural areas

POWERSTONE EARNS PRESTIGIOUS ACMF® CERTIFICATION

PowerStone Property Management Inc. a full service Orange County, California based property management firm, today announced that the firms has been certified by the CACM (California Association of Community Managers) as an accredited ACMF® property management company. The credential requires a very specific set of standards and practices be adhered to and reinforces PowerStone’s commitment to continue to provide the highest level of client satisfaction for its HOA’s. According to CACM President David Zepponi

Pending Home Sales Climb in April to Highest Level since May 2006

Pending home sales rose in April for the fourth straight month and reached their highest level in nine years, according to the National Association of Realtors®. Led by the Northeast and Midwest, all four major regions saw increases in April.