Monthly Archives: August 2010

WASHINGTON, D.C. - August 10, 2010 - (RealEstateRama) -- U.S. Senators Frank R. Lautenberg (D-NJ) and Robert Menendez (D-NJ) today announced New Jersey will receive $13,542,890 in federal grant funding from the U.S. Department of Housing and Urban Development (HUD) to assist homeless men and women in New Jersey access housing opportunities.

EUGENE, OR - August 11, 2010 - (RealEstateRama) -- United Property Brokers, Inc. and IDX, Inc. have joined forces to revolutionize the professional website of Realtor Ray Saenz. With the addition of IDX Broker software, his search page extracts raw listing data from the Metrolist Denver MLS (MTOMLS) and displays it directly on the website, giving his clients a bevy of properties to search through. The time saving technology of this customized IDX solution gives him and his clients a quicker, simpler and more efficient online home search experience.

WASHINGTON, DC - August 11, 2010 - (RealEstateRama) -- Senator Chuck Grassley is urging the Department of Housing and Urban Development to do a better job of preventing lifetime convicted sex offenders from receiving federal housing benefits, as federal law requires. Grassley’s letter comes after an inspector general report determined that the federal government subsidizes housing for an estimated 2,094 to 3,046 lifetime registered sex offenders.

SPRINGFIELD, IL - August 11, 2010 - (RealEstateRama) -- Second quarter Illinois home sales figures reflect the continued positive impact of the tax credit and strong buyer market conditions while the statewide median price showed stability over the entire second quarter. According to the Illinois Association of REALTORS® (IAR) second quarter 2010 report, Illinois home sales (which include single-family homes and condominiums) totaled 35,628 in the second quarter, up 27.7 percent from 27,890 home sales in the same period a year ago. The last quarter when sales totals were higher than second quarter 2010 was third quarter 2007 when home sales reached 39,904

Boise, ID - August 11, 2010 - (RealEstateRama) -- An Ada County judge has ordered more than $1 million in penalties and restitution against Access Mortgage Company, Inc. (Access Mortgage), a Seattle-based mortgage broker, for violating Idaho laws relating to mortgage and financial fraud.

Leesburg, VA - August 10, 2010 - (RealEstateRama) -- Loudoun County is a recipient of a 2010 Achievement Award from the Virginia Association of Counties (VACo).

FRANKFORT, KY - August 11, 2010 - (RealEstateRama) -- Gov. Steve Beshear, along with Kentucky Housing Corporation (KHC) Chief Executive Officer Richard L. McQuady, today announced that Kentucky will share $2 billion in federal assistance to help unemployed and underemployed homeowners pay their mortgages as they seek work, along with 16 other states and the District of Columbia. Kentucky is eligible for this assistance as a result of having sustained unemployment rates at or above the national average during the last 12 months.

NEW YORK, NY - August 10, 2010 - (RealEstateRama) -- JPMorgan Chase announced today that it has purchased a $3.5 billion portfolio of multifamily and commercial real estate loans from Citibank.

August 11, 2010 - (RealEstateRama) -- Courtesy of Gwen Inzer of Choi InternationalNow more than ever, it's time to recognize those outstanding sales professionals who, through determination and hard work, achieved incredible results in 2009.

August 11, 2010 - (RealEstateRama) -- Courtesy of Gwen Inzer of Choi InternationalNow more than ever, it's time to recognize those outstanding sales professionals who, through determination and hard work, achieved incredible results in 2009.

WASHINGTON, DC - August 11, 2010 - (RealEstateRama) -- The Justice Department today filed a lawsuit against the owners, developers, architects and civil engineers of Park Place Apartments, a 276-unit complex in Louisville, Ky., for failing to provide accessible features required by the Fair Housing Act.

NEW YORK, NY - August 11, 2010 - (RealEstateRama) -- Moody’s Analytics, a leading independent provider of economic forecasting and credit risk services, today announced the immediate availability of RealtyTrac Foreclosure Data, a service drawing on the extensive foreclosure, property, loan and home sales data from RealtyTrac, the leading online marketplace of foreclosure information.

WASHINGTON, DC - August 11, 2010 - (RealEstateRama) -- Today, the Obama Administration announced a plan to expand its Housing Finance Agency (HFA) Innovation Fund for the Hardest-Hit Housing Markets (the Hardest-Hit Fund) by providing $2 billion to HFAs in 18 jurisdictions that have experienced sustained unemployment rates at or above the national average over the last 12 months, through June 2010. The HFAs receiving the new funding include nine of those already participating in the Hardest-Hit Fund (California, Florida, Michigan, Nevada, North Carolina, Ohio, Oregon, Rhode Island, and South Carolina), as well as the HFAs of Alabama, DC, Georgia, Illinois, Indiana, Kentucky, Mississippi, New Jersey, and Tennessee.

WASHINGTON, D.C. - August 11, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 6, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 0.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.4 percent compared with the previous week.

AUSTIN, TX - August 5, 2010 - (RealEstateRama) -- Texas Department of Housing and Community Affairs (TDHCA) today announced statewide funding awards to help finance the development of high quality rental properties offering reduced rents yet with an attractive design to blend seamlessly within the community.

August 11, 2010 - (RealEstateRama) -- New research funded by MacArthur and carried out by the Urban Institute suggests that families that moved from Chicago’s Madden/Wells public housing community, as part of the city’s plan to transform public housing, now live in better housing and safer neighborhoods. But, the report says, poor health is keeping many out of the workforce.

Washington, DC - August 11, 2010 - (RealEstateRama) -- The trend in firming home prices solidified in the second quarter with more metropolitan areas showing increases from a year ago, aided by a surge in home sales driven by the home buyer tax credit, according to the latest survey by the National Association of Realtors®.

IRVINE, CA - August 11, 2010 - (RealEstateRama) -- Marcy Torres, Chief Financial Officer (CFO) of Irvine, CA-headquartered Jamboree Housing Corporation, has been promoted to Executive Vice President and CFO, according to an announcement by Laura Archuleta, Jamboree President. With the promotion, Torres will continue to manage the company’s finance department and will now also oversee its extensive $1 billion property portfolio and Jamboree’s social services programs designed to enhance the health and welfare of its residents

BETHEL, CT - August 11, 2010 - (RealEstateRama) -- Countdown To Buy, a next generation online real estate marketplace that offers fair and effective solutions to buy and sell properties, today provided a progress update and strategic commentary on its online marketplace that removes uncertainty and restores confidence in the real estate transaction model for foreclosure and distressed properties.

Phoenix, AZ - August 11, 2010 - (RealEstateRama) -- The Gibson Laughton Group, led by Scott Gibson, a real estate industry veteran and top-producing agent with RE/MAX Prosperity, was recently ranked in the top-five of the 2010 Wall Street Journal and REAL Trends Top 400 Rankings. The team joins an elite group of real estate professionals across the country recognized for their production in challenging market conditions.

New York, NY- August 11, 2010 - (RealEstateRama) -- Strategic Development and Construction Group and Lemle & Wolff, Inc. developers of Beacon Towers, a new cooperative residential development in Harlem, today announced that they are offering a cash incentive to buyer’s agents whose clients close on units at Beacon Towers. Brokers representing buyers who successfully purchase and close at Beacon Towers will now receive a $1,000 bonus paid for their first closing, $2,500 for their second closing and $3,500 for their third closing.

WASHINGTON, DC - August 11, 2010 - (RealEstateRama) -- The Obama Administration today announced additional support to help homeowners struggling with unemployment through two targeted foreclosure-prevention programs. Through the existing Housing Finance Agency (HFA) Innovation Fund for the Hardest Hit Housing Markets (the Hardest Hit Fund), the U.S. Department of the Treasury will make $2 billion of additional assistance available for HFA programs for homeowners struggling to make their mortgage payments due to unemployment. Additionally, the U.S. Department of Housing and Urban Development (HUD) will soon launch a complementary $1 billion Emergency Homeowners Loan Program to provide assistance – for up to 24 months – to homeowners who are at risk of foreclosure and have experienced a substantial reduction in income due to involuntary unemployment, underemployment, or a medical condition.

New York, NY - August 11, 2010 - (RealEstateRama) -- Harlem Community Development Corporation (HCDC) will sponsor the showcasing of four murals and six banner designs that will decorated the new Harlem River Park. The murals and banners were supported by the Harlem CDC and Harlem River Park Task Force, as well as New York City Department of Parks and Recreation and the New York State Department of Transportation (NYSDOT), both of which granted permission to adorn their walls

ANAHEIM, CA - August 11, 2010 - (RealEstateRama) -- August 11, 2010—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $6.5 million sale transaction for a 39,747-square-foot office building in Crescent Corporate Center. The property sits on four acres and is located at 525 N. Muller St. in Anaheim

ALISO VIEJO, CA - August 10, 2010 - (RealEstateRama) -- Nationally renowned management expert and financier Warren D. Fix has been appointed to the board of directors for CT Realty Investors

San Francisco, CA - August 10, 2010 - (RealEstateRama) -- Zephyr Real Estate raised the bar in April with the launch of its new website, and continues moving ahead with expanded video profiles of 48 San Francisco neighborhoods.

San Francisco, CA - August 10, 2010 - (RealEstateRama) -- Zephyr Real Estate raised the bar in April with the launch of its new website, and continues moving ahead with expanded video profiles of 48 San Francisco neighborhoods.

TALLAHASSEE, FL - August 10, 2010 - (RealEstateRama) -- Attorney General Bill McCollum today announced his office has launched three new investigations into allegations of unfair and deceptive actions by Florida law firms handling foreclosure cases. The Attorney General’s Economic Crimes Division is investigating whether improper documentation may have been created and filed with Florida courts to speed up foreclosure processes, potentially without the knowledge or consent of the homeowners involved

Long Beach, CA - August 10, 2010 - (RealEstateRama) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) joined with financial institutions and community organizations on Saturday, August 7, 2010, to host a foreclosure prevention workshop and homebuyer education fair in Long Beach

August 10, 2010 - (RealEstateRama) --Two Prior Lake men have pleaded guilty in federal court in Minneapolis for their roles in a scheme that defrauded mortgage lenders out of more than $2.5 million by causing them to make loans based on false information. Appearing before United States District Court Judge David S. Doty earlier today, Beau Wesley Gensmer, age 28, pleaded guilty to one count of wire fraud and one count of money laundering in connection to that crime. Christopher Glenn Kennedy, age 31, pleaded guilty to the same charges on August 6, 2010. Gensmer and Kennedy were indicted on April 21, 2010. A third co-defendant pleaded guilty earlier in the case.