Monthly Archives: December 2010

WASHINGTON, D.C. - December 10, 2010 - (RealEstateRama) -- The Department of Justice $2 million settlement with PrimeLending spotlights serious problems on loans insured by the Federal Housing Administration (FHA). The case found inconsistent and abusive pricing on loans to African-American borrowers, revealing that it’s far too easy for lenders making government-backed loans to overcharge home buyers.

ANCHORAGE, AK - December 10, 2010 - (RealEstateRama) -- Friday, December 10, 2010 - Alaska Housing Finance Corporation (AHFC) announced the availability of a loan program to finance permanent energy-efficient improvements to buildings owned by regional educational attendance areas, the University of Alaska, the state, and municipalities in the state.

Las Vegas, NV - December 9, 2010 - (RealEstateRama) -- Last week, The Myers Team officially announced the addition of Deanna Collins to their team of Nevada Short Sale Experts. Ms. Collins was named an "authorized short sale lender" by Francoise Myers, owner of The Myers Team.

GREENSBORO, NC - December 9, 2010 - (RealEstateRama) -- Greensboro residents and contractors have a new business ally with the formation of the City’s Development Services Center, at 300 W. Washington St. Celebrating its grand opening January 3, the office makes the building permit and planning process more efficient by offering customers’ convenient access to City representatives and technology involved in reviewing submissions

New York, NY - December 9, 2010 - (RealEstateRama) -- The New York City Housing Authority Board Wednesday voted to approve the development of a new kindergarten-through-12th grade school and community center building at the St. Nicholas Houses development, to be built and operated by the Harlem Children’s Zone (HCZ). This new and exciting project is part of NYCHA’s effort to meet President Obama’s Choice Neighborhoods and Promise Neighborhoods challenge to housing authorities to integrate their residents with the larger community and link them to outside educational resources. The school building, to be funded by HCZ with assistance from the School Construction Authority, will be available also for community programming, including the use of the gymnasium in the evenings and on weekends

December 9, 2010 - (RealEstateRama) -- Assembly Republican Leader Alex DeCroce, R-Morris and Passaic, released the statement below regarding today's announcement by Governor Christie of a bipartisan agreement on arbitration reform which is a vital element of the governor's property tax reform Tool Kit package:

Los Angeles, CA - December 9, 2010 - (RealEstateRama) --Saturday, December 4, 2010 was a good day for hundreds of families who waited patiently in search of help to avoid foreclosure. The Los Angeles County NeighborWorks® Center for Foreclosure Solutions (CFS) coalition, civil leaders and local volunteers teamed up at the Help & Hope Fair to assist families navigate their way through the tempestuous foreclosure process. The Help & Hope Fair, held at The Tabernacle in Inglewood, was designed to make it as easy as possible for families to receive assistance whether they need help keeping their home or hope to buy a foreclosed property. Over 1,000 individuals attended the fair and they all received a continental breakfast, beverages and lunch.

Torrance, CA - December 9, 2010 - (RealEstateRama) -- Michel Hibbert of Charles Dunn Company has negotiated a $1.9 million sale of a 19-unit apartment complex located at 943 Elden Ave. in Los Angeles.

McLean, VA - December 9, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which found that once again, both fixed- and short-term mortgage rates rose this week. This was the fourth week in a row where fixed-rate mortgage rates were up.

WASHINGTON, D.C. - December 9, 2010 - (RealEstateRama) -- Serving as leading indicators for the sector, two composite multifamily indices produced from NAHB's survey of multifamily builders and property managers showed improvement in the third quarter of 2010. The NAHB Multifamily Production Index (MPI) increased to a value of 35.6, up from the 26.6 level reported for the second quarter. This is the highest the MPI has been since 2007

December 9, 2010 - (RealEstateRama) -- State Treasurer Clint Zweifel (ZWY-ful) and Places for People broke ground today on Places at Page, Missouri’s first affordable housing development funded by the state’s housing commission specifically targeted to alleviate homelessness amongst individuals living with severe and persistent mental illness. Places for People Executive Director Francie Broderick, Treasurer Zweifel, construction workers and future Places at Page residents helped break down a wall in the new facility expected to be completed by late 2011.

EVANSVILLE, IN - December 9, 2010 - (RealEstateRama) -- Indiana Attorney General Greg Zoeller today filed a lawsuit in Vanderburgh County against Hope4Homes, Inc., a for-profit foreclosure consultant, claiming the company has been operating in Indiana illegally and has violated several state consumer protection laws. Hope4Homes is located in California and is owned and operated by Mahan Abbasi, who is listed as a defendant in the suit.

ZION, IL - December 9, 2010 - (RealEstateRama) -- Twenty units of permanent supportive housing in Lake County for victims of domestic abuse will be built as a result of the financial investment of the Illinois Housing Development Authority (IHDA). An estimated 82 jobs will be created with the construction of the new A Safe Place development

Boston, MA - December 9, 2010 - (RealEstateRama) -- The U.S. industrial real estate sector’s national availability1 rate is expected to fall to 13.1% in 2011, down from 14.0% in the third quarter of 2010, according to new analysis from CBRE Econometric Advisors (CBRE-EA). CBRE-EA forecasts that the industrial availability rate is expected to continue declining during 2012, ending the year at 11.8%. The national industrial availability rate peaked at 14.1% in 2Q 2010.

December 9, 2010 - (RealEstateRama) -- State Senator Joseph J. Crisco, Jr. (D-Woodbridge) and Rep. Themis Klarides (R-Derby) today announced the imminent release of state funding to assist affected Woodbridge homeowners near the West River, where shifting ground, settling, and subsidence has caused property damage.

La Quinta, CA - December 9, 2010 - (RealEstateRama) -- Coldwell Banker Residential Brokerage in La Quinta and Lori Ebeling have been selected to represent the Estates at the historic Point Happy Ranch. Coldwell Banker Residential Brokerage agent Lori Ebeling consistently ranks among the top NRT agents nationwide, and was chosen by the new owners of Point Happy Estates as the listing agent for the sales and marketing of the15 estate homes.

New York, N.Y. - December 9, 2010 - (RealEstateRama) -- Halstead Property Development Marketing today announced that Windows on 123, a premier luxury condominium development in Harlem, is now 50% sold.

WASHINGTON, DC - December 9, 2010 - (RealEstateRama) -- A new study released today by Fannie Mae finds that most Americans — both those who currently own their homes and those who rent — strongly aspire to own a home and to maintain homeownership, despite ongoing turmoil in the housing market. However, demographic trends such as fewer married couples and less families with children resulting in shrinking households — combined with financial caution among consumers — are contributing to an increased willingness to rent.

EUGENE, OR - December 9, 2010 - (RealEstateRama) -- IDX, Inc. has enabled another real estate website with the dynamic IDX Broker software. This time, Napa, California real estate agent Frank Trozzo has adopted the comprehensive and thorough technology. Internet Data Exchange (IDX) solutions, such as the one enabled by Trozzo, simultaneously extract raw listing data from the Bay Area Real Estate Info Services (BAREIS) and display the detailed listings on the search page of the website of Trozzo. Now, thousands of properties can be searched through by his clients and those just beginning their home search in northern California.

WASHINGTON, D.C. - December 9, 2010 - (RealEstateRama) -- Michael D. Berman, CMB, Chairman of the Mortgage Bankers Association (MBA) and John A. Courson, MBA's President and CEO, announced today the MBA has assembled a task force of key MBA members to examine and issue recommendations for the future of residential mortgage servicing. The Council on Residential Mortgage Servicing for the 21st Century will be led by Debra W. Still, CMB, President and Chief Executive Officer of Pulte Mortgage LLC of Englewood, CO and MBA's Vice Chairman.

EUGENE, OR - December 9, 2010 - (RealEstateRama) -- Real estate agent Manuel Singh and IDX, Inc. have supplied San Diego, California potential buyers with a concise and complete online solution for finding the perfect home. Singh now hosts a customizable IDX solution on his website, instantly syncing his search page with thousands of San Diego Regional MLS (Sandicor) listings. Home seekers utilizing his website, can experience a dynamic online property search from the convenience of the IDX search page Singh has upgraded to. With all of the benefits for real estate professionals and potential buyers, it is no wonder Singh has chosen to adopt such a revolutionary technology

WASHINGTON, DC - December 9, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development announced today that it is launching multiple investigations into the practices of certain mortgage lenders to determine if their home loan policies illegally deny qualified African American and Latino borrowers access to credit.

WASHINGTON, DC - December 8, 2010 - (RealEstateRama) -- PrimeLending, a national mortgage lender with 168 offices in 32 states at the end of 2009, has agreed to pay $2 million to resolve allegations that it engaged in a pattern or practice of discrimination against African-American borrowers between 2006 and 2009.

AUSTIN, TX - December 8, 2010 - (RealEstateRama) -- Texas State Representative Bill Callegari (District 132, Katy) announced the introduction of legislative packages to lower the state's spending cap and, separately, limit home property tax appraisals.

Providence, RI - December 8, 2010 - (RealEstateRama) -- With more Rhode Islanders coping with job loss or underemployed and with the cost of fuel continuing to increase, Rhode Island Housing is once again offering its Heating Assistance Program

PREET BHARARA, - December 8, 2010 - (RealEstateRama) -- the United States Attorney for the Southern District of New York, announced that ANTOINETTE HODGSON was sentenced yesterday in Manhattan federal court to six years in prison for running a $50 million real estate Ponzi scheme that fraudulently solicited investments from over 20 New York and New Jersey investors. HODGSON operated the scam between 2006 and her arrest in early 2010, tricking investors into providing money to her for purported investments in real estate when, in fact, HODGSON was simply using the money to pay off other investors in the scheme and to enrich herself and her family members. HODGSON previously pled guilty on September 14, 2010, to one count of conspiracy to commit wire fraud and one count of wire fraud. The sentence was imposed by U.S. District Judge ROBERT W. SWEET.

POMPTON PLAINS, N.J. - December 8, 2010 - (RealEstateRama) -- Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials today to celebrate the grand opening of Evans Place, an affordable supportive housing community for individuals with special needs. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided $2.4 million in construction and permanent financing from the Special Needs Housing Trust Fund.

WASHINGTON, D.C. - December 8, 2010 - (RealEstateRama) -- NAHB’s National Sales and Marketing Council (NSMC) has announced the finalists for The National Sales and Marketing Awards – “The NationalsSM.” Finalists are known as Silver Award Winners, with The Nationals Gold Award winner emerging from the field of Silver Finalists.Gold Awards in each category will be presented at The Nationals Gala, held in Orlando, Fla., next month as part of the NAHB International Builders’ Show (IBS). The awards ceremony is scheduled for Wednesday, Jan. 12th at The Peabody Orlando, and is expected to draw more than 500 attendees.

WASHINGTON, D.C. - December 8, 2010 - (RealEstateRama) -- National Association of Home Builders (NAHB) announced the year's best in multifamily housing today. Among the winners of the 2010 Multifamily Pillars of the Industry were a luxury high-rise in Dallas surrounded by shopping, dining and entertainment; an urban mixed-use condo loft community in L.A. combining living and working spaces for the telecommuting professional; and an adaptive reuse project that transformed a 13-story 1960's concrete superstructure into a sustainable luxury apartment tower overlooking the Washington, D.C., skyline.

Los Angeles, CA - December 8, 2010 - (RealEstateRama) -- Colliers International, the second largest real estate services firm globally, has completed the sale of a 7,500-square-foot industrial building located at 9356 Remick Ave. in Los Angeles to Total Effects, Inc., a Los Angeles-based company supervising special effects for the motion picture industry. The total transaction is valued at $1.025 million.