Monthly Archives: August 2010

RALEIGH, NC - August 13, 2010 - (RealEstateRama) -- If average foreclosure rates for the year stay constant, North Carolina will reach a record of 70,000-plus filings for 2010, according to court data.

RALEIGH, NC - August 13, 2010 - (RealEstateRama) -- If average foreclosure rates for the year stay constant, North Carolina will reach a record of 70,000-plus filings for 2010, according to court data.

Chicago, IL - August 17, 2010 - (RealEstateRama) -- Realtors® play an important leadership role in building our communities, sharing their time and talents to help others in need. Ten such individuals were recognized today by the National Association of Realtors® as finalists for REALTOR® Magazine’s 2010 Good Neighbor Awards.

WASHINGTON, D.C. - August 17, 2010 - (RealEstateRama) -- Nationwide housing starts inched up 1.7 percent to a seasonally adjusted annual rate of 546,000 units in July from a downwardly revised figure in the previous month, according to U.S. Commerce Department figures released today. The gain occurred entirely on the multifamily side, with single-family housing production falling 4.2 percent to 432,000 units.“Builders are very reluctant to build more homes in view of the current state of the economy and weak buyer demand,” noted Bob Jones, chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich

WASHINGTON, D.C. - August 17, 2010 - (RealEstateRama) -- The National Association of Home Builders (NAHB) today unveiled a new website featuring the finalists in its 19th annual Multifamily Pillars of the Industry Awards. The recently-named finalists represent the nation’s top-performing firms working in design, development, marketing and management of apartments and condos.The newly-launched website – www.nahb.org/pillarsawards – provides a full listing of all Pillars finalists, as well photos and information on each project. With its searchable format, visitors to the site can easily search for finalists by category or location. Additionally, the site includes comments by the award hosts and judges.

Washington, D.C. - August 16, 2010 - (RealEstateRama) -- Just moments before the House adjourned last week, Reps. Brad Miller (D-NC) and Keith Ellison (D-MN),

Torrance, CA - August 17, 2010 - (RealEstateRama) -- David E. Howard, a 25-year commercial real estate veteran, has been named president of Lee & Associates’ San Diego North office. Howard, who joined Lee in 2005, is a founding principal of Lee’s national accounts group, which today represents name brand national office and industrial clients throughout the country. In Mr. Howard’s new role he will be responsible for all management activities such as brokerage operations, sales support, information technology and ancillary services.

WASHINGTON, D.C. - August 17, 2010 - (RealEstateRama) -- Builder confidence in the market for newly built, single-family homes edged down for a third consecutive month in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The HMI declined one point to 13, its lowest level since March of 2009.“Builders are expressing the same concerns that they are hearing from consumers right now, particularly the sense that the overall economy and job market aren’t gaining any traction,” said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Mich. “Meanwhile, many continue to report that problems with inaccurate appraisals, competition from the large number of distressed properties on the market, and tight consumer lending conditions are causing them to lose potential sales.”

August 16, 2010 - (RealEstateRama) -- The Federal Financial Institutions Examination Council (FFIEC) released guidance today on reverse mortgage products. The guidance, adopted by each of the financial regulators,1 emphasizes the consumer protection concerns raised by reverse mortgages and the importance of financial institutions mitigating the compliance and reputation risks associated with these products.

WASHINGTON, DC - August 16, 2010 - (RealEstateRama) -- Uncertainty in the economy confirms lower expectations for economic growth and a slower-than-normal recovery, according to the August 2010 Economic Outlook released today by Fannie Mae's (FNMA/OTC) Economics & Mortgage Market Analysis Group

SACRAMENTO, CA - August 16, 2010 - (RealEstateRama) -- An updated version of The Economic Benefits of Housing report released today by the California Homebuilding Foundation (CHF) in conjunction with the Center for Strategic Economic Research (CSER), confirms that the housing industry’s economic output has fallen approximately 80 percent since 2005, representing a loss of tens of billions of dollars and hundreds of thousands of jobs to the state’s economy.

SAN DIEGO, CA - August 16, 2010 - (RealEstateRama) -- CT Realty Investors Corp. of Aliso Viejo, Calif., (www.ctrealtycorp.com) announced that longtime San Diego real estate veteran Jim Kelly has joined the company as managing partner and executive vice president of the company’s San Diego Division. Kelly will head up the company’s San Diego regional operations located at 10650 Treena St., Suite 111, in San Diego

August 16, 2010 - (RealEstateRama) -- The city of Phoenix is seeking proposals for the rehabilitation of a city-owned residential property at 50 W. Mariposa St. The city will hold a pre-submittal meeting at 1 p.m. Monday, Aug. 16, at Phoenix City Hall, 200 W. Washington St., first floor, assembly room D.The pre-submittal meeting will provide an opportunity for proposers to ask questions about the Request for Proposals (RFP).

TALLAHASSEE, FL - August 16, 2010 - (RealEstateRama) -- Florida CFO Alex Sink today sent a letter to Scott Wallace, executive director of Citizens Property Insurance Corporation, calling on Citizens to implement contract reforms to ensure accountable and competitive contracting, and allow all qualified businesses the opportunity to compete for work available from Citizens. Wallace is scheduled to meet with CFO Sink’s staff about contracting procedures at Citizens next week.

August 16, 2010 - (RealEstateRama) -- Gerardi, Foote, and Willen look at economists' assessments of the housing market prior to its collapse to see whether they saw signs of a bubble. While some economists did warn of a bubble, this was a minority view. Other economists advanced well reasoned counterarguments.

Washington, D.C. - August 16, 2010 - (RealEstateRama) -- The Construction Specifications Institute (CSI) announced that it has joined the ConsensusDOCS Coalition. “CSI is excited to join the ConsensusDOCS Coalition. We look forward to bringing a diverse project team perspective to the process of creating standard contract documents for use by all participants in the construction industry. CSI’s participation with the Coalition aligns nicely with its mission of advancing building information management and education of project teams to improve facility performance,” states Walt Marlowe, CEO of CSI.

Detroit, MI - August 16, 2010 - (RealEstateRama) -- Today, downtown Detroit became home to 1,700 new faces as energized team members from Quicken Loans Inc, and its sister companies, One Reverse Mortgage LLC, Fathead LLC, In-House Realty LLC and Quizzle LLC began moving into their new home in the heart of Detroit’s rising technology district. The companies occupied the remainder of the vacant space in Detroit’s newest business complex, the Compuware building, on the North edge of Campus Martius. The building will now house a total “brainforce” of nearly 4,000 technology and web-based workers.

BOSTON, MA - August 16, 2010 - (RealEstateRama) -- MassHousing announced a loan closing today of $5.9 million to preserve affordability for low-income families at the 86-apartment St. Michael’s House in Northampton.

Jackson, MS—The Mississippi Home Corporation (MHC) has awarded over $8 million in Housing Tax Credits (HTC) to developers for the construction and rehabilitation of 589 units statewide. The developments will create over 500 jobs, which will provide $12.89 million in constructions wages and produce $67.78 million in related spending in their communities

BOLINGBROOK, IL - August 16, 2010 - (RealEstateRama) -- On behalf of the administration of Governor Pat Quinn, Illinois Housing Development Authority (IHDA) Executive Director Gloria L. Materre today joined local officials to celebrate the groundbreaking of 106 homes for low-income seniors in southwest suburban Bolingbrook. Construction on the McKenzie Falls affordable apartments will create an estimated 130 jobs

Washington, DC - August 16, 2010 - (RealEstateRama) -- The National Association of Realtors® today commended the Federal Housing Finance Agency for taking steps to restrict government-sponsored enterprises – Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks – from investing in mortgages with private transfer fee covenants.

Denver, CO - August 16, 2010 - (RealEstateRama) -- Elite Asset Management Team Leader, Pete Veres, has completed the real estate industry’s most comprehensive training in the use of the U.S. Government’s FHA 203k Home Purchase and Renovation Loan program. With this designation, Pete Veres becomes a member of RE-buildUSA, a nationwide organization of real estate, lending and home improvement professionals, working in partnership with Lowe’s, and is dedicated to helping more Americans achieve the dream of home ownership, improving our communities and contributing to the health of our economy.

Denver, CO - August 16, 2010 - (RealEstateRama) -- Elite Asset Management Team Leader, Pete Veres, has completed the real estate industry’s most comprehensive training in the use of the U.S. Government’s FHA 203k Home Purchase and Renovation Loan program. With this designation, Pete Veres becomes a member of RE-buildUSA, a nationwide organization of real estate, lending and home improvement professionals, working in partnership with Lowe’s, and is dedicated to helping more Americans achieve the dream of home ownership, improving our communities and contributing to the health of our economy.

Atlanta, GA - August 16, 2010 - (RealEstateRama) -- The Wall Street Journal/Real Trends 2010 Real Estate Top 400 Professionals list was just released in August. It is based on a survey of thousands of brokerage firms, associations of Realtors® and hundreds of other sources to determine the top-performing agents in the United States, based on 2009 sales production. Atlanta-based Realtor Mark Spain and his RE/MAX Greater Atlanta real estate team were honored as the #29 team in the United States. The Mark Spain Team was #29 for most transaction sides and #29 for highest sales volume. Spain was the only Georgia-based team on the Top 100 Teams by Sales Volume list.

WASHINGTON, D.C. - August 16, 2010 - (RealEstateRama) -- Abdo Development today announced that they have teamed with The Bozzuto Group, a Washington D.C. area-based residential real estate company, and Pritzker Realty Group, a Chicago-based real estate investment company, to co-develop a project that will transform The Catholic University of America’s South Campus into a vibrant mixed-use, transit-oriented community

CHICAGO, IL - August 16, 2010 - (RealEstateRama) -- The Center for Neighborhood Technology (CNT) announced today that it is providing its ground-breaking transportation cost information to the popular website WalkScore.com.

Tampa, FL - August 16, 2010 - (RealEstateRama) -- Projects are not as plentiful as other parts of the country but that will change as Green Real Estate Education courses are going to be offered in Oklahoma City. The company has hired a Regional Director in Oklahoma that will handle expansion in Oklahoma and Texas.

las Vegas, NV - August 16, 2010 - (RealEstateRama) -- The central document in the Short Sale package that will be submitted to the mortgage lenders that will be taking a loss in the Hardship Letter. The Hardship Letter provides the homeowner with an opportunity to state their case as to why they can no longer afford to make their mortgage payment

las Vegas, NV - August 16, 2010 - (RealEstateRama) -- The central document in the Short Sale package that will be submitted to the mortgage lenders that will be taking a loss in the Hardship Letter. The Hardship Letter provides the homeowner with an opportunity to state their case as to why they can no longer afford to make their mortgage payment

las Vegas, NV - August 16, 2010 - (RealEstateRama) -- The central document in the Short Sale package that will be submitted to the mortgage lenders that will be taking a loss in the Hardship Letter. The Hardship Letter provides the homeowner with an opportunity to state their case as to why they can no longer afford to make their mortgage payment