Monthly Archives: September 2010

HERNDON, VA - September 22, 2010 - (RealEstateRama) -- NAIOP, the Commercial Real Estate Development Association, today announced that it has selected two development companies as the recipients of its annual Sustainable Development Award

September 22, 2010 - (RealEstateRama) -- The Federal Trade Commission moved to further strengthen its longstanding enforcement program aimed at preventing deceptive mortgage advertising, proposing a rule that would ban misrepresentations for all mortgages and would allow the FTC and the states to seek civil penalties against those who violate the rule.

WASHINGTON, D.C. - September 22, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 17, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 22.9 percent compared with the previous week, which included the Labor Day holiday

READINGTON, NJ - September 22, 2010 - (RealEstateRama) -- A 249-acre farm with three individual homes will be going on the auction block in October. Max Spann Real Estate & Auction Co., a national auctioneer of elite properties, has scheduled the auction for Thursday, October 21, 2010 at 11 a.m. at the home on 109 Sumner Road in Readington.

Washington, D.C. - September 22, 2010 - (RealEstateRama) -- The Securities and Exchange Commission today charged a Minneapolis-based attorney and two San Francisco-area promoters with defrauding investors in a real estate lending fund by concealing the financial collapse of the fund's sole business partner.

WASHINGTON, DC - September 22, 2010 - (RealEstateRama) -- The Federal Housing Administration (FHA) today announced a new modified version of its Home Equity Conversion Mortgage (HECM) product. The HECM loan is a reverse mortgage insured by the federal government. It allows older home owners to tap into their equity to cover living expenses and health care costs while continuing to live in their home without having to make the mortgage payments that are required with a traditional mortgage or equity loan.

Washington, D.C. - September 21, 2010 - (RealEstateRama) -- Today, Congressman Al Green (TX-09) announced that the City of Houston and Harris County have been awarded significant funding as part of the Neighborhood Stabilization Program (NSP), which is coordinated by the Department of Housing and Urban Development (HUD).

Dallas, TX - September 21, 2010 - (RealEstateRama) -- The U. S. Department of Housing and Urban Development (HUD) will be awarding Dallas County with a $2,342,611 Community Development Block Grant (CDBG), a $93,098 Emergency Shelter Grant (ESG) and a $773,694 HOME grant.

SANTA ANA, Calif. - September 20, 2010 - (RealEstateRama) -- Grubb & Ellis Healthcare REIT II, Inc. today announced that it has acquired a seven-building portfolio of skilled nursing facilities located throughout Virginia.

ELGIN, IL - September 21, 2010 - (RealEstateRama) -- Governor Pat Quinn today announced the state has committed federal Low-Income Housing Tax Credits to finance a planned creative arts community in downtown suburban Elgin. The new Artspace development will provide affordable housing and will support Elgin’s arts community. The project is expected to create approximately 100 construction jobs

SACRAMENTO, CA - September 21, 2010 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that John B. Ngo, 29, of San Ramon, was sentenced today by United States District Judge William B. Shubb to nine months in prison, to be followed by two years of supervised release. Ngo pleaded guilty on December 17, 2007 to one count of making a false declaration before the grand jury.

AUGUSTA, ME - September 21, 2010 - (RealEstateRama) -- Bureau of Financial Institutions Superintendent Lloyd P. LaFountain, III announced this week that second quarter 2010 data submitted by Maine state-chartered banks and credit unions shows a decrease in completed home foreclosures in Maine. Additionally, the number of delinquent mortgage loans declined for the second consecutive quarter.

Huntington Beach, CA - September 21, 2010 - (RealEstateRama) -- James D. Houghton of Charles Dunn Co., represented both the buyer, Bellalance, LLC, and the seller, Ralphs Grocery Company, in the $4.8 million purchase of a 33,350-square-foot facility at 6942 Warner Ave. in Huntington Beach, Calif.

EUGENE, OR - September 21, 2010 - (RealEstateRama) -- John Day and IDX, Inc. have teamed up to upgrade the real estate website of Day with his own personalized IDX Broker software. Now, Metropolitan Regional Info Systems (MRIS) listings are automatically displayed on his unique search page. This integration of thousands of MRIS properties gives Day an unprecedented advantage in customer service. His website quickly and simply finds potential buyers homes in and around the Washington D.C. metropolitan area.

EUGENE, OR - September 21, 2010 - (RealEstateRama) -- IDX, Inc. welcomes Kara Nixon of NJ Realty to the growing group of real estate professionals revolutionizing the way potential buyers search for homes online. As a member of three MLS services in New Jersey, her clients can access thousands of properties in a matter of seconds, thanks to the dynamic technology of the IDX Broker software now synced to her real estate search page. Never before has a more comprehensive set of property listings been available to search through online.

EUGENE, OR - September 21, 2010 - (RealEstateRama) -- Fred Thoerner and IDX, Inc. today announce the newly updated real estate website of Thoerner. With the revolutionary IDX Broker software installed on his search page, Thoerner is giving Alaska home seekers unprecedented access to thousands of Alaska MLS (AKMLS) listings, making finding a home simpler and quicker. The IDX solution customized for Thoerner and his clients allows potential buyers to fully understand what they are looking for, what they can afford and who they can get it from, on the dynamic real estate website Thoerner hosts

EUGENE, OR - September 21, 2010 - (RealEstateRama) -- IDX, Inc. and Eric Chorzempa have joined forces to bring Northstar MLS listings to Minnesota potential buyers. The unique and revolutionary IDX Broker software extracts raw listings data and seamlessly integrates it onto the search results page of each home seeker utilizing the website of Chorzempa. Now, it is easier than ever before to begin the property search in Minnesota, thanks to the IDX solution now synced on his real estate website.

DALLAS, TX - September 21, 2010 - (RealEstateRama) -- Faith Schwartz, a mortgage industry veteran of 25 years, received the Lifetime Achievement Award, today, at the Five Star Default Servicing Conference and Expo in Dallas, Texas.

Des Plaines, IL - September 21, 2010 - (RealEstateRama) -- Bill Gates spent more than $100 million on a smart house that automatically controls lighting, digital art and security, but even non-celebrity homeowners today are adopting the technology for safety, comfort and convenience. “Smart homes are the future,” said John Davies, ASID, director of design for Marrokal Design and Remodeling. The firm recently won a National CotY Award from the National Association of the Remodeling Industry (NARI) for a whole-home remodel it completed in San Diego that included a centralized computer system.

WASHINGTON, D.C. - September 21, 2010 - (RealEstateRama) -- The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 8,124 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data made available today cover 2009 lending activity--applications, originations, purchases of loans, denials, and other actions such as incomplete or withdrawn applications.

Washington, DC - September 21, 2010 - (RealEstateRama) -- On Friday, September 24th, NCRC will testify before Federal Reserve Board on making critical improvements to HMDA data, so that lenders can be held accountable for the types of loans they are issuing to communities

WASHINGTON, DC - September 21, 2010 - (RealEstateRama) -- With the improvement of disclosures for mortgages and other financial products a top priority for the new Consumer Financial Protection Bureau (CFPB), Treasury Secretary Tim Geithner and Elizabeth Warren, Assistant to the President and Special Advisor to the Treasury Secretary, today hosted a forum to seek input on the simplification of mortgage disclosure forms so that consumers have the clear and easy-to-understand information they need to make the financial choices that are best for themselves and their families.

Indianapolis, IN - September 21, 2010 - (RealEstateRama) -- Lee & Associates, one of the largest commercial real estate providers in the country, has announced a merger with Harding Dahm & Company, one of Indiana’s top full-service commercial real estate brokerage firms

Destin, FL - September 21, 2010 - (RealEstateRama) -- Homes and other residential properties are selling for less than half of what they did a few years back, so now just might be the right time to invest. The real estate research firm that forecasts more housing markets online than any other is introducing a new section on its website to aid real estate investors. Housing Predictor has helped millions of Americans to understand the real estate crash through its insightful analysis and forecasts. The Investors Center will focus on helping real estate investors.

September 20, 2010 - (RealEstateRama) -- Unlike the beasts, mankind survives because he is a scientist. We cannot physically compete with animals that can fly, or run and swim faster than us, who can drink dirty water and combat the bacteria in it, or who multiply in such sheer numbers that they survive despite losing 95% of their offspring each generation. No, human beings survive in this universe because our nature is to figure out the natural laws of physics, and domesticate them, building infrastructure, to reflect those laws in the world we create. We build farms to feed each other, build machines to aid our productivity, and build our knowledge, to improve our culture, and the technology of our infrastructure, from one generation to the next.

September 20, 2010 - (RealEstateRama) -- True to his fascist character, Nero Obama is playing golf while the United States burns. Every day, new reports emerge of the effects of our nation’s collapsing infrastructure and bankrupt localities: fire and police departments are laying off emergency responders, social safety nets are being eliminated, and cities across the country are faced with horrifying conditions. Now Detroit, just one of the 2,000 municipalities denied Federal relief, by Obama, is burning down.

Irvine, CA (September 20, 2010) – Jamboree Housing Corporation today announced that H.O.M.E.S., Inc. (Helping Our Mentally Ill Experience Success) will become affiliated with Jamboree on an ongoing basis. According to Laura Archuleta, Jamboree’s president, the decision came after months of discussions between the two organizations’ boards of directors and takes effect October 1, 2010. Like Housing with HEART, Jamboree’s resident services group, H.O.M.E.S. will continue to operate as a separate 501(C)(3) organization under the Jamboree name and governance.

Tampa, FL - September 20, 2010 - (RealEstateRama) -- Each year in the United States, more than $35 billion in direct property loss is caused by natural disasters. Yet, while states and municipalities are seeking to adopt ordinances that require “green” or “sustainable” construction, they are overlooking disaster-resistance construction.

Towson, MD - September 20, 2010 - (RealEstateRama) -- Congressman C.A. Dutch Ruppersberger (D-MD) will kick off a foreclosure prevention workshop at the Towson National Guard Armory on Saturday, September 18, 2010. Home foreclosures are still a major problem in Maryland.“This struggling economy has been tough on Maryland families. If you are in danger of losing your home, we can help. Please join me as I kick off this Foreclosure Prevention Workshop where you will have the chance to sit down, one-on-one, with housing counselors, mortgage lenders and other experts to discuss your options to keep you in your home,” said Congressman C.A. Dutch Ruppersberger (D-MD)

September 20, 2010 - (RealEstateRama) -- US Industrial REIT III, an affiliate of USAA Real Estate Company, announces the recent purchase of two Class A bulk distribution facilities located in the Southeast submarket of Memphis, Tennessee. The purchase price was not disclosed