Monthly Archives: July 2011

WASHINGTON, D.C. - July 26, 2011 - (RealEstateRama) -- Former NFL football players are working side-by-side with local home builders and contractors this week to renovate a section of St. Ann's Infant & Maternity Home in Hyattsville, Md. The Home Builders Care Foundation (HBCF) of the Maryland-National Capital Building Industry Association (MNCBIA) is coordinating the community service project, which is converting an older, institutional-like section of the children's residential wing into a warm, comfortable living space."Every child and every family should have a safe, comfortable place that feels like home, whether it is temporary like here at St. Ann's, or a permanent home to call their own," said Calvin Snowden, president of the Washington, D.C. NFL Players' Association (NFLPA) former players' chapter. "It is incredibly rewarding to be able to give back to the Washington, D.C., community through a project like this."

Atlanta, GA - July 26, 2011 - (RealEstateRama) -- On July 21, 2011, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Cornerstone Mortgage Company dba Brayden Capital Home Loans (“Cornerstone Mortga...

WASHINGTON, D.C. - July 26, 2011 - (RealEstateRama) -- Sales of newly built, single-family homes declined 1 percent to a seasonally adjusted annual rate of 312,000 units in June, according to figures released today by the U.S. Commerce Department today."Today's report shows that new-home sales remain in a holding pattern at relatively low levels," said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. "This reflects what we are hearing from builders in the field, who continue to see uncertainty in the marketplace and are reacting accordingly by keeping inventories at a record low. With inventories at razor-thin margins, any uptick in demand will generate increased building activity in the months ahead."

Westborough, MA - July 26, 2011 - (RealEstateRama) -- The Villages at Brookside, located at 52 Brookside Road, sponsored two CEU classes taught by Anita Hill Training & Seminars and accredited by the Higgins Group License School on July 19th to support the continuing education of local real estate agents.

Brookfield, WI - July 26, 2011 - (RealEstateRama) -- Inlanta Mortgage is pleased to announce the addition of Peter Salamone to its corporate staff. As Business Development Manager, Salamone will focus on recruiting Branch Partners to expand Inlanta’s Partner Branch network and increase corporate sales.

EUGENE, OR - July 26, 2011 - (RealEstateRama) -- IDX, Inc. pleased to announce the addition of Coy Alexander and Kern Foreclosures to the growing number of real estate professionals adopting the modern and efficient IDX Broker software to update their realty websites. With Alexander's partnership with the Bakersfield MLS (BKMLS), thousands of property listings are now available on her website for all of her clients and home seekers to see and search through. Never before has finding the right home online been easier, now that Alexander has changed her real estate website to better suit home seekers in Kern County and the surrounding areas.

NEWARK, DE - July 26, 2011 - (RealEstateRama) -- DYK Automotive, LLC has signed a lease for 60,000 square feet at Pencader Business Park, 650 Pencader Drive, Newark, Del. The automotive aftermarket supplier will utilize the site as its Northeast distri...

WASHINGTON, D.C. - July 26, 2011 - (RealEstateRama) -- The Federal Trade Commission testified today on consumer protection issues relating to the rent-to-own industry. The testimony described the agency’s role in enforcing laws relating to financial issues, provided background on the rent-to-own industry, and described key findings of a 2000 report published by the FTC’s Bureau of Economics on the rent-to-own industry.

Westborough, MA - July 26, 2011 - (RealEstateRama) -- Gordon's Woods Condominium's located at 990 VFW Parkway in West Roxbury reports an increase in demand for new construction within Boston Proper. In the past ten days, the complex reports five pending sales.

NEWARK, N.J. - July 26, 2011 - (RealEstateRama) -- The law firm of Baldassare & Mara, LLC has leased 2,360 square feet at 570 Broad Street in Newark, representing the first commitment at the 15-story tower since The Berger Organization purchased a controlling interest in 570 Broad Street LLC, a partnership, earlier this year. The practice will relocate to the property from Chatham, N.J.

MILFORD, CT - July 26, 2011 - (RealEstateRama) -- Longtime Milford residents can recall the days when Walnut Beach, known for its dance halls and amusement parks, was the perfect date night destination. Today, the amusement parks are gone, but the neighborhood is enjoying a renaissance as an artists’ community as well as a beach destination. Fifty-one new condominiums there are being marketed by the New Homes Division of William Raveis Real Estate, Mortgage & Insurance. Beach Shore Village, which sits directly across the street from Walnut Beach, affords its residents sunrise views over Long Island Sound and the ultimate beach lifestyle.

WASHINGTON, DC - July 26, 2011 - (RealEstateRama) -- Secretary of Veterans Affairs Eric K. Shinseki announced today the award of nearly $60 million in homeless prevention grants that will serve approximately 22,000 homeless and at-risk Veteran families as part of the new Supportive Services for Veteran Families (SSVF) program. This initial $60 million award will serve Veteran families at 85 non-profit community agencies in 40 states and the District of Columbia under VA’s new homeless prevention initiative.

Clifton, NJ - July 26, 2011 - (RealEstateRama) -- A nine-year veteran of real estate investing, Ankit Duggal, Founder of RER, LLC, has bought, fixed, and sold his fair share of real estate. But Ankit’s rarity lies in a vision that stretches much further than flipping houses— the young entrepreneur has set out to revitalize distressed neighborhoods into valuable communities, one home at a time

WASHINGTON, D.C. - July 26, 2011 - (RealEstateRama) -- On Friday, the Mortgage Bankers Association (MBA) filed a comment letter with the Federal Reserve on the Board’s proposed rule that would implement amendments to the Truth in Lending Act (TILA) under the Dodd-Frank Act to establish Ability to Repay/Qualified Mortgage requirements.In the letter, MBA’s President and CEO David H. Stevens reiterates MBA’s support for the establishment of an ability to repay requirement for mortgage loans and emphasizes the importance of a final rule that provides unambiguous definitions and means of compliance. According to MBA, clear “bright line” requirements will ensure the availability of sustainable mortgage credit to the widest array of qualified borrowers at affordable costs.

WASHINGTON, DC - July 26, 2011 - (RealEstateRama) -- In a comment letter Friday, the American Bankers Association offered an alternative solution to strengthen the "qualified mortgage" option's safe-harbor protections in the Federal Reserve's proposed rule that would require creditors to determine a consumer's ability to repay a mortgage before making the loan.

West Hartford, CT - July 26, 2011 - (RealEstateRama) -- CT REIA and Alan Cowgill presents: Unlimited Supply of Money For Residential and Commercial Properties

NEW YORK, NY - July 25, 2011 - (RealEstateRama) -- Halstead Property Development Marketing and West 147th Street Associates LLC, an affiliate of L+M Development Partners, Inc., today announced that 80% of the units are closed or under contract at PS90, a premier residential development in Harlem.

Torrance, CA - July 25, 2011 - (RealEstateRama) -- Lee & Associates, one of the largest commercial real estate firms in the country, has named Billy Snowden the newest associate of the Atlanta office. In his new position, Snowden’s area of focus includes tenant and landlord representation throughout Atlanta and the Southeast. He specializes in the implementation of real estate strategies to create cost effective savings and in turn, increase the bottom line.

New York, NY - July 25, 2011 - (RealEstateRama) -- Keller Williams NYC (www.kwnyc.com), the Manhattan franchise of leading real estate firm Keller Williams Realty Inc., recently appointed Natalia Sosnina as a licensed sales agent, specializing in the high-end market.

HOUSTON, TX - July 25, 2011 - (RealEstateRama) -- Vincent Wallace Aldridge, a former fee attorney for First Southwestern Title Company, has been sentenced to 63 months’ imprisonment for wire fraud and money laundering arising from a scheme to defraud residential mortgage lenders of more than $3.7 million in loans in connection with home purchases in the Houston area, United States Attorney José Angel Moreno announced today, along with FBI Special Agent in Charge Stephen L. Morris and Internal Revenue Service-Criminal Investigations (IRS-CI) Special Agent in Charge Rodney E. Clark.