Monthly Archives: July 2011

NEW YORK, NY - July 14, 2011 - (RealEstateRama) -- Jones Lang LaSalle has been selected by the Italian Trade Commission to market 33 East 67th Street, once known as the Hugh D. Auchincloss House. Constructed originally as a townhouse, the five-story mansion is located on the Upper East Side of Manhattan and serves as the home of the ITC.

Washington, DC - July 14, 2011 - (RealEstateRama) -- During this morning's Oversight and Government Reform Committee hearing, Congressman John Tierney, Ranking Member of the Subcommittee on National Security, called on Chairman Darrell Issa to refocus his attention on efforts to protect our servicemembers from illegal foreclosures, rather than standing up for the big banks responsible for these egregious actions. He also entered into the record a report compiled by the Democratic staff entitled "Fighting on the Home Front: The Growing Problem of Illegal Foreclosures Against U.S. Servicemembers." The report describes in detail the systemic nature of these problems.

DENVER, CO - July 14, 2011 - (RealEstateRama) -- Judy Fahrenkrog and Peter Blank, leading Broker Associates with Kentwood City Properties and the Mile Hi Modern Team, have announced the sale of a Frank Lloyd Wright-style home in Belcaro, one of Denv...

WASHINGTON, DC - July 14, 2011 - (RealEstateRama) -- The drop in the homeownership rate from an all-time high of 69.2 percent in 2004 to 66.4 percent in the first quarter of 2011 reflects a decline from unsustainable levels to something closer to historical averages, according to a study released today by MBA's Research Institute for Housing America (RIHA). While the homeownership rate may have bottomed out, it could fall another one or two percentage points because of tightened credit and other factors, the paper says.

July 14, 2011 - (RealEstateRama) -- California, Florida, Michigan, Arizona, and Nevada made up more than half of the foreclosure activity in May. According to ForeclosureListings.com, there were 8,828 California foreclosure listings in May and 10,506 in June; an increase of 19.0%.

Marietta, GA - July 14, 2011 - (RealEstateRama) -- RE/MAX Greater Atlanta-Cobb is celebrating its 25th anniversary and, as part of that celebration, has set its sights on expanding its sales team.

Atlanta, GA - July 14, 2011 - (RealEstateRama) -- Billy Spain, a commercial real estate professional previously with RE/MAX Commercial, has joined KW Commercial Realty North Atlanta, a division of Keller Williams Realty. Spain brings a team of five to this new real estate affiliation

WASHINGTON, D.C. - July 14, 2011 - (RealEstateRama) -- Construction costs again outpaced other producer prices in June but contractors remained unable to recoup the costs through higher bid prices, according to an analysis of producer price index figures released today by the Associated General Contractors of America. Association officials said the ongoing cost squeeze will put new pressure on construction firms to reduce staff and possibly close.

La Habra, CA - July 14, 2011 - (RealEstateRama) -- The Irvine office of Lee & Associates, the nation’s largest broker-owned commercial brokerage firm, has closed on a $2.8 million REO sale of a 35,618-square-foot office property called La Habra Town Center I & II in La Habra, Calif.

CHICAGO, IL - July 14, 2011 - (RealEstateRama) -- Jones Lang LaSalle announced that Gregory Bonsignore has joined the firm as Director, Occupancy Planning in the firm’s Strategic Consulting group to support the firm’s long-term strategy to deliver high-performance solutions to clients within its Corporate Solutions business. In this role, Bonsignore will be responsible for driving innovation and product enhancement within the occupancy planning practice.

MORRISTOWN, N.J - July 14, 2011 - (RealEstateRama) -- The wait is over for Morristown residents counting down the days until they can order their caffe lattes and mocha frappuccinos. Starbucks, the newest addition to the Shops on the Green, will hold a grand opening celebration on July 22 from 5 to 7 p.m. Everyone is invited to come enjoy live music, free specialty coffee drinks and complimentary pastries while mingling with local dignitaries and members of the Morristown business community.

WASHINGTON, D.C. - July 14, 2011 - (RealEstateRama) -- The National Association of Home Builders (NAHB) announced the finalists today in the 2011 NAHB Multifamily Pillars of the Industry Awards, which honors the best and most creative work in multifamily housing. Finalists represent a wide array of projects featuring innovative concepts and trends in multifamily housing such as green and energy efficient features, community amenities and proximity to public transportation.

WASHINGTON, DC - July 14, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan and U.S. Department of Veterans Affairs Secretary Eric K. Shinseki announced today that HUD will provide $46.2 million to public housing agencies in all 50 states and the District of Columbia to supply permanent housing and case management for 6,790 homeless veterans in America.

Torrance, CA - July 14, 2011 - (RealEstateRama) -- Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $2 million transaction for a pair of contiguous industrial R&D units totaling 18,174 square feet at 1041 S. Placentia Avenue in Fullerton, Calif.

IRVINE, CA - July 14, 2011 - (RealEstateRama) -- RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Midyear 2011 Foreclosure Market Report, which shows a total of 1,170,402 U.S. properties received foreclosure filings — default notices, auction sale notices and bank repossessions — in the first six months of 2011, a 25 percent decrease from the previous six months and a 29 percent decrease from the first half of 2010. The report also shows that 0.90 percent of all U.S. housing units (one in 111) had at least one foreclosure filing in the first half of the year.

BROOKLYN, NY - July 14, 2011 - (RealEstateRama) -- Real estate brokers from Brooklyn and beyond will gather on a spectacular rooftop location on Wednesday, July 20th from 5:30 to 7 p.m. for the “Arias Park Slope Amenity Showcase,” a twilight event which will highlight the world-class recreational amenities at Brooklyn’s most desirable luxury rental building.

Washington D.C. - July 14, 2011 - (RealEstateRama) -- The deadline for homeowners to qualify for the Emergency Homeowners’ Loan Program (EHLP) is rapidly approaching with all Pre-Applicant Screening Worksheets due by Friday, July 22, 2011.The EHLP, launched by the U.S. Department of Housing and Urban Development (HUD) in conjunction with NeighborWorks® America in June, is designed to help homeowners who are at risk of foreclosure in 27 states across the country and Puerto Rico. The program assists homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment or underemployment, due to economic conditions or a medical condition.Under EHLP guidelines eligible homeowners can qualify for an interest free loan which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first.

West Hartford, CT - July 14, 2011 - (RealEstateRama) -- The Connecticut Real Estate Investors Association, or CT REIA, in association with the Apartment Owners Association Of Connecticut, or AOACT, is announcing the July 2011 meeting of the AOACT. This event will take place on July 20 from 5:45pm to 9:00pm at the Crowe Plaza Hotel, located at 100 Berlin Road in Cromwell, CT. This event is free for AOACT and CT REIA members, and $30 for non-members.

Columbia, MO - July 14, 2011 - (RealEstateRama) -- Mitigation experts from the Federal Emergency Management Agency (FEMA) will be in Florissant to offer free rebuilding information and answer questions about how to strengthen property against future storm and flood damage.

WASHINGTON, D.C. - July 14, 2011 - (RealEstateRama) -- Henry V. Cunningham Jr., CMB, a member of the Mortgage Bankers Association’s (MBA) Board of Directors and Chairman of MBA’s Residential Board of Governors (RESBOG), testified today before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity at a hearing titled, “Mortgage Origination: The Impact of Recent Changes on Homeowners and Businesses.”Below is Mr. Cunningham’s oral statement before the subcommittee, as prepared for delivery.

Washington, DC - July 13, 2011 - (RealEstateRama) -- SmarterSafer.org today urged the United States Senate to immediately act on National Flood Insurance Program (NFIP) reform without weakening the legislation’s effectiveness. The House of Representatives passed legislation to reauthorize the program until Sept. 30, 2016 on an overwhelming bipartisan vote of 406-22.

July 13, 2011 - (RealEstateRama) -- The Department of Human Services is opening its lobby at 741 Monticello Ave. today to homeless individuals and others in need of relief in response to the Extreme Heat Watch issued by the National Weather Service for the Hampton Roads region. In addition, all branches of the Norfolk Public Library will have their lobbies available to any citizens who need to get out of the heat.

CLEVELAND, OH - July 13, 2011 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced a lawsuit against foreclosure rescue company Diversified Real Estate Consultants LLC (DREC), its affiliates, and its owner for multiple violations ...

WASHINGTON, D.C. - July 13, 2011 - (RealEstateRama) -- Even after they find a new job, many North Carolinians who have been unemployed during the economic downturn still struggle to hold onto their homes. They may have either missed payments when t...

PORTLAND, OR - July 13, 2011 - (RealEstateRama) -- Two members of an alleged drug trafficking organization were arraigned today on money laundering and marijuana trafficking charges involving the abuse of the Oregon Medical Marijuana Program (OMMP), U....

BOISE, ID - July 13, 2011 - (RealEstateRama) -- Melody C. Redondo, 33, of Meridian, Idaho, was sentenced today to 15 months in prison followed by five years of supervised release for making a false statement to a financial institution, U.S. Attorney We...

EAST RUTHERFORD, N.J. - July 13, 2011 - (RealEstateRama) -- Lee Winter has re-joined commercial real estate services firm Cushman & Wakefield, Inc. in East Rutherford, as a director in its Global Business Consulting Group’s Business Incentives Practice. He brings nearly three decades of industry experience – including more than 15 years in the location advisory services arena – to his new position.

WASHINGTON, DC - July 13, 2011 - (RealEstateRama) -- Today, Congresswoman Lois Capps (CA-23) voted for the Flood Insurance Reform Act of 2011 (H.R. 1309), which passed the House by a vote of 406-22. The bill re-authorizes the National Flood Insurance Program for five years, and makes needed reforms to address the financial stability of the program by phasing out non-essential premium subsidies. The legislation is particularly relevant for homeowners in the Santa Maria Valley and the cities of Oxnard and Ventura. The County of Santa Barbara, the County of Ventura, and the City of Santa Maria all written letters to the Congresswoman expressing support for the legislation.

Washington, D.C. - July 13, 2011 - (RealEstateRama) -- Today, U.S. Senator Barbara Boxer (D-CA) held a press conference call to discuss her bill, the Helping Responsible Homeowners Act of 2011, which would remove barriers that have prevented millions of homeowners with non-delinquent, Fannie Mae or Freddie Mac-backed mortgages from refinancing at historically low interest rates. She also urged the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, to use its existing authority to eliminate these obstacles to refinancing.

Washington, DC - July 13, 2011 - (RealEstateRama) -- Today, the House Financial Services Committee approved legislation introduced by Rep. Ed Royce (R-CA), the "Housing Trust Fund Elimination Act." Royce’s legislation eliminates the Affordable Housing Trust Fund established in 2008 as part of the Housing and Economic Recovery Act.