Monthly Archives: May 2010

WASHINGTON, D.C. - May 12, 2010 - (RealEstateRama) -- The National Association of Home Builders (NAHB) will introduce a new format for its Semi-Annual Construction Forecast Conference this year. On Tuesday, May 18, NAHB will host a two-hour webinar from 2:00-4:00 p.m. featuring three renowned industry experts

WASHINGTON, D.C. - May 12, 2010 - (RealEstateRama) -- Over the past year, the Center for Responsible Lending (CRL) has hosted numerous conversations with faith communities as part of its "Faith and Credit" program. In a letter delivered to Senators today, sixteen Christian leaders with decades of experience providing housing services and financial counseling urged legislators to enact reforms that protect against abusive lending practices targeting low-income households.

WASHINGTON, D.C. - May 12, 2010 - (RealEstateRama) -- (May 12, 2010) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 7, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 3.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3.4 percent compared with the previous week.

PHOENIX, AZ - May 12, 2010 - (RealEstateRama) -- April J. Lucero, 46, of Phoenix, Ariz. was sentenced on May 10, 2010 to two years in prison for her conviction in August 2009 for her involvement in a mortgage fraud scheme in Phoenix, Ariz. Lucero pleaded guilty to one count of Conspiracy to Commit Mail, Wire and Bank Fraud, a felony, related to her participation in a two year conspiracy involving the purchase of 37 properties using fraudulent loan documents. Seven other co-conspirators were also charged and have pleaded guilty for their involvement in the conspiracy

Tampa, FL - May 12, 2010 - (RealEstateRama) -- The Institute for Business & Home Safety (IBHS) has updated the state-by-state overview of land use planning laws on the IBHS Web site

In Letters to GAO and OMB, Senator Highlights Green Building Council Report Detailing Opportunities for Increased Energy Efficiency in Federal Buildings. May 12, 2010 - (RealEstateRama) -- Sen. Tom Carper (D-Del.) urged the Office of Management and Budget (OMB) Director Peter Orszag and the Government Accountability Office (GAO) Acting Comptroller General Gene Dodaro to review the federal government’s energy use in order to save taxpayer dollars and improve energy efficiency. In his letters, Sen. Carper highlighted a recent United States Green Building Council report, “Using Executive Authority to Achieve Greener Buildings: Guide for Policymakers to Enhance Sustainability and Efficiency in Multifamily Housing and Commercial Buildings,” that detailed ways for the federal government to increase sustainability and efficiency in federal buildings.

ORLANDO, FL - May 12, 2010 - (RealEstateRama) -- Sales of existing single-family homes in Florida rose 24 percent in first quarter 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. A total of 38,846 existing homes sold statewide in 1Q 2010; during the same period the year before, a total of 31,410 existing homes sold. It marks the seventh consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association.Statewide sales of existing condominiums in the first quarter rose 67 percent compared to the same time the previous year. This marks the sixth consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.

Washington, DC - May 12, 2010 - (RealEstateRama) -- While the fragile housing market has begun to stabilize, the economy and real estate industry still face many challenges on the way to a full recovery.

Washington, DC - May 12, 2010 - (RealEstateRama) -- Banks that can accurately determine changing value, in real time, of real estate properties that back loans in their portfolios will have a competitive edge in the future, predicted Realtor® John McCrocklin, president of John McCroklin Real Estate and Associates, Austin, Texas.

Washington, DC - May 12, 2010 - (RealEstateRama) -- Restoring balance in the U.S. mortgage finance system is essential to stabilizing the real estate market, according to Realtors®, public policy officials and others gathered at the “Realtor® Town Hall Meeting: Strengthening and Stabilizing the U.S. Mortgage System” session today. The session is part of a three-day summit during the Realtors® Midyear Legislative Meetings & Trade Expo here this week.

Washington, DC - May 12, 2010 - (RealEstateRama) -- FHA has played a fundamental role in helping stabilize the nation’s housing market; however, FHA reform is critical for keeping the housing and economic recovery on the right track.

WASHINGTON, D.C. - May 12, 2010 - (RealEstateRama) -- By July 1, all mortgage servicers participating in the Making Home Affordable Program will offer extra help for homeowners struggling to make their monthly mortgage payments because of unemployment. The Unemployment Program will offer homeowners a forbearance period to temporarily reduce or suspend their monthly mortgage payments while they seek re-employment.

West Hartford, CT - May 11, 2010 - (RealEstateRama) -- The Connecticut Real Estate Investors Association, or CT REIA, in association with Patrick Precourt, is announcing the CT REIA May 2010 monthly Connecticut real estate investors meeting. This event will take place on Monday, May 17th, from 5:30pm to 9:00pm, at the Crowne Plaza Hotel on 100 Berlin Road in Cromwell, CT. This event is free for CT REIA members, and $30 for non-members.

Atlanta, GA - May 11, 2010 - (RealEstateRama) -- Prudential Georgia Realty opens new Atlanta real estateoffice in Buckhead. The 5,000+ square foot space is located at 3221 Peachtree Road, a block south of the Piedmont Road and Peachtree Road intersection,in the heart of Buckhead. More than 30 agents and staff, lead by Buckheadnative and Managing Broker Bill Murray, moved into the space in April. Anofficial ribbon-cutting and grand opening will be held Thursday, May 20th, from 6 to 9 p.m.

Atlanta, GA - May 11, 2010 - (RealEstateRama) -- Realtor Susan Tanner, an Atlanta native, has joined Prudential Georgia Realty’s newest office in Buckhead. The office, which hostsits grand opening celebration later this month on May 20th, is located at 3221 Peachtree Road, just south of the Peachtreeand Piedmont Road intersection

WASHINGTON, DC - May 11, 2010 - (RealEstateRama) -- Today, Oregon’s Senator Jeff Merkley introduced an amendment to the Wall Street reform bill that will ban one of the most egregious mortgage practices that directly led to millions of families losing their homes.

LAKEWOOD TWP., N.J. - May 10, 2010 - (RealEstateRama) -- Lakewood Township Mayor Steven Langert today joined representatives of the New Jersey Housing and Mortgage Finance Agency (HMFA) at the Lakewood Municipal Building, 231 Third Street, to announce that the township is the newest member of the Live Where You Work program.

New York, NY - May 10, 2010 - (RealEstateRama) -- Mayor Michael R. Bloomberg, Deputy Mayor for Economic Development Robert C. Lieber, Council Member Melissa Mark-Viverito, New York City Economic Development Corporation President Seth W. Pinsky, Housing Preservation and Development Deputy First Deputy Commissioner Douglas Apple

Washington, D.C. - May 11, 2010 - (RealEstateRama) -- The American Institute of Architects (AIA) reached agreement on a five-year integrated media partnership with Hanley Wood, LLC that will increase the value of AIA membership as well as expand the reach and impact of member knowledge and expertise. The AIA / Hanley Wood agreement, unprecedented in its proposed use of digital media, integrates AIA member knowledge and thought leadership through Hanley Wood magazines, web sites, events, the AIA Annual Convention, joint research initiatives, and support for AIA chapters

Albany, NY - May 11, 2010 - (RealEstateRama) -- The State Office of Temporary and Disability Assistance (OTDA) today announced that 500,000 of New York’s neediest households will receive additional federal funding to assist in meeting their current energy costs.

Conshohocken, PA - May 11, 2010 - (RealEstateRama) -- Metro Commercial announced today that it has brokered a 51,320-square-foot lease for the Oklahoma based Hobby Lobby Stores, Inc. at the Lebanon Valley Mall in Lebanon, PA

Edison, NJ - May 11, 2010 - (RealEstateRama) -- Reacting to the NATIONAL ASSOCIATION OF REALTORS®' (NAR) 2010 First Quarter Metro Home Prices/State Resales report, New Jersey Association of REALTORS® (NJAR®) Chief Executive Officer Jarrod C. Grasso, RCE, today issued the following statement:

HOLYOKE, MA - May 11, 2010 - (RealEstateRama) -- Acres of contaminated property located between the Connecticut River and the Front Canal in historic downtown Holyoke will be cleaned up and redeveloped as a result of a Brownfields Covenant Not to Sue Agreement that Attorney General Martha Coakley’s Office has entered into with the prospective developer of the site.The covenant agreement limits the liability related to contamination on the six parcels in exchange for the redevelopment and cleanup. The property was once home to American Writing Paper and Brown Paper Mills in the 19th and 20th centuries, but the majority of the buildings on the site have been largely vacant in recent decades. Under the agreement, Quantum Properties LLC will clean up the parcels in accordance with Massachusetts Department of Environmental Protection (MassDEP) standards and redevelop them into modern industrial and commercial buildings. The parcels are contaminated with oil and hazardous materials from their industrial history

Workshop planned for Fort Wayne WorkOne Center. STATEHOUSE, IN - May 11, 2010 - (RealEstateRama) -- Fort Wayne-area lawmakers today urged Hoosiers facing foreclosures to attend free one-hour workshops now being hosted across the state.

SPRINGFIELD, IL - May 11, 2010 - (RealEstateRama) -- Buyers were out in force in the first quarter led by low interest rates and homebuyer tax credits. According to the Illinois Association of REALTORS® (IAR) first quarter 2010 report, Illinois home sales (which include single-family homes and condominiums) totaled 21,242 in the first quarter, up 23.5 percent from 17,194 home sales in the same period a year ago. The first quarter statewide median home sale price was $144,600, off 0.3 percent from $145,000 in the first quarter of 2009. The median is a typical market price where half the homes sold for more, half sold for les

ATLANTA, GA - May 11, 2010 - (RealEstateRama) -- The Georgia Property Taxpayer Committee has selected Senate Majority Leader Chip Rogers (R-Woodstock) as their 2010 Legislator of the Year because of his dedication and service to Georgia’s property owners.

Denver, CO - May 11, 2010 - (RealEstateRama) -- Michael Bennet, U.S. Senator for Colorado, spoke with a homeowner hoping to stave off foreclosure while answering calls at the Colorado Foreclosure Prevention Hotline today. Bennet also heard from counselors on the ongoing challenges the organization faces as a leader in helping Coloradans stave off foreclosures and stay in their homes.

BOSTON, MA - May 11, 2010 - (RealEstateRama) -- A former Adams man has been ordered to pay $185,657 in damages and civil penalties for engaging in mortgage fraud that resulted in a string of foreclosures in Adams, Greenfield, North Adams, and Pittsfield, Attorney General Martha Coakley’s Office announced today.AG Coakley’s Office obtained a Final Judgment against Richard E. Doherty, 65, of Norwich, Connecticut, resolving claims of mortgage fraud that were outlined in a 2008 lawsuit. The final judgment, entered by Suffolk Superior Court Judge Elizabeth Fahey last week, determined Doherty violated the Consumer Protection Act when he obtained loan proceeds by fraudulently procuring mortgages on multi-family homes and commercial buildings in communities in Western Massachusetts.

CLINTON, MS - May 11, 2010 - (RealEstateRama) -- Mississippians who suffered losses from the April 23-24 tornadoes and received a loan application from the U.S. Small Business Administration are urged to complete and return the application. Doing so will ensure the applicants are considered for the full range of disaster assistance, including additional grants

New York, NY - May 11, 2010 - (RealEstateRama) -- RE/MAX was started with a single office in Denver, Colorado, and now it grown into more than 75 countries along with about 100,000 Sales Associates. RE/MAX topped a record 630 for the year 2009 by global franchise sales that show its explosive growth in several regions such as Portugal grew 100 percent, southwest Germany increased 200 percent and Israel was up 45 percent.