Monthly Archives: January 2011

Las Vegas, NV - January 28, 2011 - (RealEstateRama) -- Who says that history doesn’t repeat itself? In September 1929, the Secretary of the Treasury, Andrew W. Mellon made the following announcement, “There is no cause to worry. The high tide of prosperity will continue.” One month later, Wall Street experienced the most devastating stock market crash in the history of the United States. The crash signaled the beginning of the 12 year Great Depression that affected all Western industrialized countries.

New York, NY - January 28, 2011 - (RealEstateRama) -- Mayor Michael R. Bloomberg, Environmental Protection Commissioner Cas Holloway, Sustainability Director David Bragdon and Health Commissioner Dr. Thomas Farley today proposed new rules to reduce emissions from the approximately 10,000 boilers in New York City that burn grades Numbers 4 and 6 oil, the dirtiest heating oil types available in New York.

WOODSTOWN, N.J. - January 28, 2011 - (RealEstateRama) -- Representatives of the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials today to celebrate the completion of Freedom Village, an affordable housing community located on Woodstown-Alloway Road in Woodstown. The HMFA, an affiliate of the New Jersey Department of Community Affairs (DCA), provided $2 million in permanent financing to the project from the Special Needs Housing Trust Fund and also awarded federal tax credits and tax credit subsidies. The DCA committed housing vouchers from the State Rental Assistance Program to assist with the project’s operations.

WASHINGTON, D.C. - January 28, 2011 - (RealEstateRama) -- U.S. Senator Dick Durbin (D-IL) wrote to Illinois Governor Pat Quinn today, pledging to work together to protect Illinois servicemembers from excessive mortgage fees and foreclosure. Recent news reports have raised concerns that servicemembers are being overcharged for the mortgages and foreclosed upon in violation of their legal rights. Durbin asked Quinn to do all that he can to ensure servicemembers are aware of their rights and the resources available to them.

Washington, DC - January 28, 2011 - (RealEstateRama) -- Idaho Congressman Mike Simpson is an original cosponsor of H.R. 462, the Tax Code Termination Act. This legislation would abolish the Internal Revenue Code and call on Congress to fundamentally reform the federal tax system

EUGENE, OR - January 28, 2011 - (RealEstateRama) -- Geri and Karen Sexton have enabled the premier IDX, Inc. software on their website, giving them an IDX solution that automatically extracts raw California Real Estate Technology Services (CARETS) listings and displays the information directly onto their search page. The innovative IDX Broker software helps to simplify the online real estate market for both home seekers and real estate agents and brokers, like the Sextons. Their website now hosts one of the most dynamic property search features available online, making their website a great place to begin the online property search process

WASHINGTON, D.C. - January 28, 2011 - (RealEstateRama) -- Hundreds of thousands of Americans of all ages and backgrounds joined in volunteer service projects across the country on the 2011 Martin Luther King Jr. Day of Service. President Obama and First Lady Michelle Obama joined cabinet secretaries, governors, mayors, nonprofit and business leaders, students, families, and others in honoring Dr. King's legacy through service projects addressing a multitude of pressing social issues from poverty and illiteracy to hunger to homelessness.Americans made it a “a day on, not a day off” by weatherizing homes, delivering meals, refurbishing schools, collecting food and clothing, reading to children, providing employment counseling, and more. Many will use the day as the beginning of ongoing commitment to serve throughout the year.

San Diego, CA - January 28, 2011 - (RealEstateRama) -- Marilyn Lawhead, a North County REALTOR® with Coldwell Banker Residential Brokerage’s Encinitas office has been awarded the 2010 Entrepreneur of the Year Award by the North San Diego Chapter of the Women’s Council of REALTORS® (WCR). This annual award recognizes a REALTOR® member who fully exercises their potential as an entrepreneur and real estate industry leader; and who shares their time, talent and expertise with others in the profession and in the community.

DENVER, CO - January 28, 2011 - (RealEstateRama) -- RE/MAX Commercial® is once again joining the ranks of other high-profile commercial franchises with the second most Certified Commercial Investment Member (CCIM) candidates and designees in the industry, a significant achievement given today’s commercial real estate landscape.

HOUSTON, TX - January 27, 2011 - (RealEstateRama) -- Today, a jury sitting in United States District Judge Sim Lake’s Courtroom found Vincent Wallace Aldridge, former fee attorney for First Southwestern Title Company and attorney for Aldridge and Associates, along with Tori Elyse Aldridge, a former employee of First Southwestern Title Company and Gilbert Barry Isgar, a co-owner of Waterford Homes, guilty of charges of wire fraud and money laundering in 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 Richard C. Powers and Internal Revenue Service-Criminal Investigations (IRS-CI) Special Agent in Charge Rodney E. Clarke.

CHICAGO, IL - January 27, 2011 - (RealEstateRama) -- The Illinois Housing Development Authority (IHDA) announced federal American Recovery and Reinvestment Act (ARRA) funds have enabled the start of construction and rehabilitation of nearly 5,500 affordable rental homes, creating an estimated 4,855 jobs statewide

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.

Boston, MA - January 27, 2011 - (RealEstateRama) -- Mayor Thomas M. Menino today announced that results of last month’s 31st Annual Homeless Census show a 4% decrease in the overall homeless census count from 2009, including a 7% decrease in the number of individual homeless adults. The December 6, 2010 Census brought together business, civic, state, and city leaders, and more than 330 volunteers to count homeless residents on city streets, in shelters, and domestic violence, transitional and treatment programs across Boston. Beyond the overall decrease, results show some promising signs and significant challenges, including:

EUSTIS, FL - January 27, 2011 - (RealEstateRama) -- Lake And Sumter Emergency Recovery (LASER) is soliciting donations from the community for residents who sustained damage to their homes during the Jan. 25 storm that passed through Lake County.

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.

Sanford, ME - January 27, 2011 - (RealEstateRama) -- Reliant Mortgage Company of Sanford, ME has announced that it has been named the #1 Mortgage Company of the Greater Sanford/Springvale area for 2011.

COLUMBIA, S.C. - January 27, 2011 - (RealEstateRama) -- On Monday January 24th, South Carolina REALTORS® (SCR) released its Year-End Market Report and video. There was a mistake in the numbers for Hilton Head within the report. A new report has been posted here for download. SCR apologizes for any confusion this might cause.

New York, NY - January 27, 2011 - (RealEstateRama) -- Paul Galanis, Managing Director of CBRE Auction Services announced today that The Marquis at Williamsburg, a 268,691-square-foot partially completed retail center located at 196 & 500 Marquis Parkway in Williamsburg, VA, will be sold absolute regardless of price, in an open outcry auction on March 10, 2011.

WASHINGTON, DC - January 27, 2011 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today conducted its annual State of the Real Estate Finance Industry Media Conference Call. The call featured MBA representatives discussing the state of the industry, MBA's legislative and regulatory agenda for 2011 (including Dodd-Frank Act Implementation, GSE/secondary market reform, tax reform and residential loan servicing) and MBA's new three-year macro-economic and mortgage finance/housing forecasts.The speakers included: Michael Berman, Chairman of the Mortgage Bankers Association, John Courson, President and CEO of the Mortgage Bankers Association, Jay Brinkmann, Senior Vice President and Chief Economist, Gail Cardwell, Senior Vice President of Commercial and Multifamily, Bill Killmer, Senior Vice President of Legislative and Political Affairs, and Steve O'Connor, Senior Vice President of Public Policy and Industry Relations.

McLean, VA - January 27, 2011 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows long- and short-term rates rising this week

NEW YORK, N.Y. - January 27, 2011 - (RealEstateRama) -- Mortgage rates showed little movement again this week, with the benchmark conforming 30-year fixed mortgage rate nosing higher to 4.97 percent according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points.

WASHINGTON, D.C. - January 27, 2011 - (RealEstateRama) -- After a bruising fast-paced winter thunderstorm yesterday left more than 10 inches of snow in certain parts of the Washington, DC area, many residents saw damaged trees, dangling wires, and power outages across the region. As most people have realized, snow and ice can prove dangerous, and can cause severe damage to properties and vehicles.

Inland Empire - January 27, 2011 - (RealEstateRama) -- Colliers International, the second largest real estate services organization globally, has completed the sale of a 89,248-square-foot multi-family property located at 301 E. Cypress Ave, Redlands, CA to Sequoia Equities, a Walnut Creek-based real estate investment firm. The property sold for $625,000 above list price, at $11.625 million and $141,768 per unit.

Torrance, CA - January 27, 2011 - (RealEstateRama) -- Lee & Associates, one of the largest national commercial real estate providers with regional expertise, recently closed the sale of a 27.96-acre land parcel in the Ocean Ranch business park in Oceanside, Calif. The transaction is valued at $8.8 million.

NEWPORT BEACH, CA - January 27, 2011 - (RealEstateRama) -- The recent launch of Brookstone Law PC’s Emergency Extension Department (EED) (www.brookstone-law.com), a new resource to help homeowners facing foreclosure keep their homes, achieved timely results for two local seniors by stopping the sale of their home the day before it was scheduled to be sold

EUGENE, OR - January 27, 2011 - (RealEstateRama) -- Michael Dillon, owner of the Washington DC area real estate group, Dillon Crew, has teamed with IDX, Inc. to revolutionize his real estate website with a customizable IDX solution. Now, Dillon can host thousands of Metropolitan Regional Info Systems (MRIS) detailed property listings online. Home seekers in Washington can now search for homes quickly and easily with the IDX-enabled search Dillon has integrated onto his site. Potential buyers now truly have an online real estate solution to simplify the property search process for themselves and their agents

EUGENE, OR - January 27, 2011 - (RealEstateRama) -- The New York home search just got easier, thanks to the partnership between IDX, Inc. and Geoffrey Green. The transformation of The Green Team website Green hosts is possible with the dynamic IDX Broker software he now supports on his search page. Greater Hudson Valley MLS (GHVMLS) listings are even synced with his website, displaying thousands of properties effortlessly. Now, potential buyers can experience a thorough property search online, without leaving the comfort of their own home or the convenience of the website of Green.

EUGENE, OR - January 27, 2011 - (RealEstateRama) -- Today, IDX, Inc. enables IDX Broker software for the website of agent Randy Ostrander. He now hosts a customized IDX solution, automatically syncing his website to the Southwest Michigan MLS (SWMRIC). Ostrander can display thousands of Big Rapids, Michigan property listings, giving his clients and other potential buyers the opportunity to find their perfect home online. With IDX Broker software Ostrander can host an online real estate search like never before available online.

EUGENE, OR - January 27, 2011 - (RealEstateRama) -- IDX, Inc. is pleased to announce Richard Finkelstein, of Kenco Realty Group, has become the latest real estate professional to enable IDX Broker software onto his website. With the dynamic Internet Data Exchange (IDX) technology his site now hosts, Finkelstein and Kenco can implement a thorough and comprehensive online property search feature for his page. Palm Beach Regional MLS (RMLSFL) listings are now seamlessly integrated into his search capabilities, giving Kenco clients the ability to quickly access and scan listing information for thousands of properties. The Palm Beach, Florida online real estate search has never been so easy or simple

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.