Housing & Development

Washington, DC - February 4, 2011 - (RealEstateRama) -- The National Association of Realtors® applauds the Federal Housing Finance Agency for moving ahead with a proposed rule to restrict government-sponsored enterprises Fannie Mae and Freddie Mac and the 12 Federal Home Loan Banks from investing in mortgages encumbered by private transfer fee covenants

Washington, D.C. – The U.S. Green Building Council (USGBC) today applauded a key element of President Obama’s plan to “win the future” by making America’s commercial buildings more energy- and resource-efficient over the next decade. The President’s plan, entitled Better Buildings Initiative, catalyzes private-sector investment through a series of incentives to upgrade offices, stores, schools and universities, hospitals and other commercial and municipal buildings.

Washington, DC - February 3, 2011 - (RealEstateRama) -- HUD’s biannual report to Congress on the housing needs of low income Americans shows that a record number of very low income households have severe housing problems, particularly housing costs that far exceed what they can afford to pay. The National Low Income Housing Coalition calls on Congress and the Administration to heed the findings of the Worst Case Housing Needs 2009 report and spare federal housing aid programs from the budget cuts that many are threatening

McLean, VA - February 3, 2011 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) announced today that it had approximately $15 billion in volume for its multifamily whole loan and bond guarantee business (multifamily mortgage settlements), compared to almost $17 billion in 2009. This volume includes Freddie Mac’s targeted affordable housing products, which finance apartments that receive some form of government subsidy.

WASHINGTON, DC - February 3, 2011 - (RealEstateRama) -- The National Multi Housing Council (NMHC) and the National Apartment Association (NAA) released the following statement concerning the Better Buildings Initiative announced by President Obama today. The statement was issued by NMHC/NAA's Vice President of Energy and Environment, Eileen Lee.

WASHINGTON, D.C. - February 3, 2011 - (RealEstateRama) -- The Building Systems Councils (BSC) of the National Association of Home Builders (NAHB) honored David Endy for a lifetime of service and achievement in advancing the systems-built industry and contributing to the efforts of the BSC.Endy, president of Stratford Homes LP based in Stratford, Wis., received the S.A. Walters Systems-Built Achievement Award at an awards ceremony and luncheon held during the BSC's annual SHOWCASE event held in New Orleans Nov. 7-10. The S.A. Walters Systems-Built Achievement award is given annually to an individual who has made significant contributions to the industrialized housing industry in the United States.

WASHINGTON, DC - February 2, 2011 - (RealEstateRama) -- HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, released its final 2010 loan modification data, which shows that an estimated 1.76 million homeowners received permanent, affordable loan modifications from mortgage servicers in 2010.

Destin, FL - February 2, 2011 - (RealEstateRama) -- Housing markets in 17 states are forecast to see home prices go higher in 2011, according to Housing Predictor analysts

Des Plaines, IL - February 1, 2011 - (RealEstateRama) -- One hundred and forty Regional “Contractor of the Year” (CotY) Winners were named by the National Association of the Remodeling Industry (NARI) during this year’s regional competition. Judging for the regional projects took place at NARI’s national headquarters in Des Plaines, Illinois, in the first week of January.

WASHINGTON, DC - February 1, 2011 - (RealEstateRama) -- In a report to Congress released today, the U.S. Department of Housing and Urban Development (HUD) found that “worst case housing needs” grew by nearly 1.2 million households, or more than 20 percent, from 2007 to 2009 and by 42 percent since 2001. “Worst case housing needs” are defined as low-income households who paid more than half their monthly income for rent, lived in severely substandard housing, or both.

WASHINGTON, DC - February 1, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the January edition of the Obama Administration's Housing Scorecard. The latest housing figures show increased new and existing home sales as home affordability remains high, but officials caution that the market remains fragile, as prices are unsettled. Foreclosure starts and completions remained low at the year’s end, as lenders continue to review internal servicing procedures.

Washington, DC - February 1, 2011 - (RealEstateRama) -- FHFA Acting Director Edward J. DeMarco today announced the agency will consolidate its three office locations into one, moving from Northwest, Washington, D.C. to Constitution Center at 400 Seventh St., Southwest. FHFA anticipates the move beginning in November 2011

Fort Mill, S.C. - January 31, 2011 - (RealEstateRama) -- Lennar Homes has committed to purchasing 40 homesites in Springfield from Crescent Resources, LLC, prompting Crescent to start development of a new section within the community. Lennar Homes has developed a new collection of home plans specifically designed to complement Springfield and will open a model home/design center in late-summer.

WASHINGTON, DC - January 31, 2011 - (RealEstateRama) -- In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) Commissioner David H. Stevens today extended FHA's temporary waiver of the agency's 'anti-flipping rule.' The extension announced today is intended to accelerate the resale of foreclosed upon homes in neighborhoods struggling to overcome possible property abandonment and blight.

WASHINGTON, DC - January 31, 2011 - (RealEstateRama) -- Yesterday, Thursday, January 27, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan, U.S. Department of Veterans Affairs Deputy Secretary Scott Gould, and U.S. Interagency Council on Homelessness Director Barbara Poppe joined volunteers around the nation as they participated in a national count of homeless persons and families as part of HUD’s national Let’s Make Everybody Count! campaign.WASHINGTON, DC - January 31, 2011 - (RealEstateRama) -- Yesterday, Thursday, January 27, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan, U.S. Department of Veterans Affairs Deputy Secretary Scott Gould, and U.S. Interagency Council on Homelessness Director Barbara Poppe joined volunteers around the nation as they participated in a national count of homeless persons and families as part of HUD’s national Let’s Make Everybody Count! campaign.

TOPEKA, KS - January 31, 2011 - (RealEstateRama) -- Kansas Development Finance Agency (KDFA) President Tim Shallenburger has named Garden City native Dennis L. Mesa as Executive Director of Kansas Housing Resources Corporation (KHRC). KHRC, a subsidiary corporation of KDFA, is a self-supporting, public corporation which serves as the primary administrator of federal housing programs on behalf of the State of Kansas.

WASHINGTON, D.C. - January 31, 2011 - (RealEstateRama) -- Eliminating the deductions for mortgage interest and real estate taxes would raise taxes disproportionately for middle-class households and make the tax system less progressive, according to a new study from the National Association of Home Builders (NAHB).The study also concludes that the benefits of these deductions are collected primarily by middle-class taxpayers, with incomes between $50,000 and $200,000, and that greater benefits are earned by larger households and families, such as those with children

Washington, DC - January 27, 2011 - (RealEstateRama) -- The Federal Housing Finance Agency today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.58 percent based on loans closed in November. This is an increase of 0.16 percent from the previous month.

DETROIT, MI - January 27, 2011 - (RealEstateRama) -- Madison Theatre Building LLC, a new partnership formed by Dan Gilbert, Founder and Chairman of Detroit-based Quicken Loans Inc., announced it has completed the purchase of the historic Madison Building, located at 1555 Broadway Street in downtown Detroit. The building was originally designed by architect C. Howard Crane and constructed in 1917 as part of the Madison Theater complex.

WASHINGTON, D.C. - January 27, 2011 - (RealEstateRama) -- The latest National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) edged up to 41.5 in the fourth quarter of 2010, compared to 40.8 in the third quarter. An RMI below 50 indicates that more remodelers say market activity is lower compared to the prior quarter than report it is higher. The RMI has been running below 50 since the final quarter of 2005.The overall RMI combines ratings of current remodeling activity with indicators of future activity like calls for bids. In the fourth quarter, the RMI component measuring current market conditions stayed flat at 43.3 from 43.4 in the previous quarter. The RMI component measuring future indicators of remodeling business increased, to 39.7 from 38.1 in the previous quarter.