Yearly Archives: 2017

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,122 on each loan they originated in the second quarter of 2017, up from a reported gain of $224 per loan in the first quarter of 2017, the Mortgage Bankers Association (MBA) reported today in its Quarterly Mortgage Bankers Performance Report

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that President Ed Hanley and Executive Vice Presidents Bill Asher and Kevin Fryman represented the seller in the sale of Michaels Plaza, a 62,952-square-foot, newly-remodeled regional shopping center anchored by Michaels and located across the street from the 1.2 million square-foot Galleria at Tyler Mall in Riverside, Calif. The sale price was $22,150,000.

Seventy percent of construction firms report they are having a hard time filling hourly craft positions that represent the bulk of the construction workforce, according to the results of an industry-wide survey released today by Autodesk and the Associated General Contractors of America. Association officials said that many firms are changing the way they operate, recruit and compensate, but cautioned that chronic labor shortages could have significant economic impacts absent greater investments in career and technical education

The Board of Directors of the nation’s largest professional association of real estate appraisers accepted the resignation of Chief Executive Officer Frederick H. Grubbe, MBA, CAE, on Thursday after more than 10 years of service.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a net leased Long John Silvers & A&W Restaurant property located at 2235 Needmore Road in Dayton, Ohio for $975,000.

Maria Foscarinis, executive director of the National Law Center on Homelessness & Poverty, issued the following statement in response to news about Hurricane Harvey: Over the weekend, as Hurricane Harvey pummeled south Texas with deadly winds and heavy rains, leaving thousands of people in the Houston area displaced, it brought the reality of homelessness to the fore for millions.

On Tuesday, August 29 at 1 p.m. EDT, the Associated General Contractors of America (AGC) will release new data showing the severity of construction worker shortages nationwide and by region and state* during a media conference call at 1-888-585-9008 (passcode/room number 351-734-823).

In an effort to address emergency, safety and security needs and fight crime at public housing properties, the U.S. Department of Housing and Urban Development (HUD) today awarded $5 million to 25 local agencies in 15 states.

U.S. Housing and Urban Development Secretary Ben Carson today announced HUD will speed federal disaster assistance to the State of Texas and provide support to homeowners and low-income renters forced from their homes due to Hurricane Harvey. To date, President Trump issued a disaster declaration for the following counties (more counties may be added as more disaster data becomes available)

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Shopko Hometown property located at 702 Westview Lane in Stanley, North Dakota for $4,850,000.

Mercy Housing Lakefront announced today that it will begin accepting applications on September 5, 2017 for River Station Senior Apartments, a 70-unit affordable housing development in Kankakee designed for low-to-moderate-income seniors. Part of a broad community revitalization strategy in a key area of downtown Kankakee, the project is a collaboration between Mercy Housing Lakefront, the Kankakee County Housing Authority (KCHA), Presence St. Mary’s Hospital and the City of Kankakee.

Collaboration between researchers at the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), the Swiss Center for Electronics and Microtechnology (CSEM), and the École Polytechnique Fédérale de Lausanne (EPFL) shows the high potential of silicon-based multijunction solar cells.

The National Association of the Remodeling Industry (NARI) launched an industry-changing Accreditation program. As the first of its kind, the NARI Accredited Remodeling Company (ARC) program was created to support both consumers and remodelers. Consumers desperately need a remodeling contractor they can trust to update their homes. NARI remodelers need a program that supports remodeling companies in the continuous improvement of their business following best practices and elevating the level of professionalism throughout the nation.

Nissan North America today announced the continuation of its long-standing partnership with Habitat for Humanity with a $1 million donation. Nissan has contributed more than $15 million to Habitat nationally since the partnership began in 2005, when Nissan donated 50 trucks and mobilized employees to assist in homebuilding following Hurricanes Katrina and Rita in the Gulf Coast region.

Faced with the almost-disappearance of affordable housing in the District of Columbia and across the nation, Congresswoman Eleanor Holmes Norton (D-DC) filed an amendment to the fiscal year 2018 Transportation, Housing and Urban Development Appropriations (THUD) bill to increase the funding for Section 8 tenant-based vouchers by 1 percent, or $187 million, which would translate into approximately 21,000 new housing vouchers. Recipients use the vouchers to reduce their rents in private apartments.

As Hurricane Harvey approaches the United States, the Governor of Texas has issued a State of Disaster declaration for 30 counties in Texas, and the Governor of Louisiana has declared a State of Emergency. In light of Hurricane Harvey, U.S. Immigration and Customs Enforcement's (ICE) and U.S. Customs and Border Protection's (CBP) highest priorities are to promote life-saving and life-sustaining activities, the safe evacuation of people who are leaving the impacted area, the maintenance of public order, the prevention of the loss of property to the extent possible, and the speedy recovery of the region.

The South Carolina Department of Health and Environmental Control (SCDHEC) has received a $2,536,800 EPA grant to reduce nonpoint source pollution as well as achieve and maintain beneficial use of water. The grant is part of EPA's 2017 Nonpoint Source Implementation Grant Program.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a fully leased three tenant property located at 701-709 E Lincoln Highway in New Lenox, Illinois for $2,050,000. The property is fully leased to AT&T Wireless, Papa John’s and Volver Cantina & Grill.

The Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB), posted a gain of eight points to 56 in the second quarter. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that a number above 50 indicates that more respondents report conditions are improving than report conditions are getting worse.

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.24 percent of all loans outstanding at the end of the second quarter of 2017.  The delinquency rate was down 47 basis points from the previous quarter, and was 42 basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey