Monthly Archives: August 2011

IRVINE, CA - August 25, 2011 - (RealEstateRama) -- RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure homes, today released its Q2 2011 U.S. Foreclosure Sales Report™, which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 31 percent of all U.S. residential sales in the second quarter of 2011, down from nearly 36 percent of all sales in the first quarter but up from 24 percent of all sales in the second quarter of 2010.

WASHINGTON, D.C. - August 25, 2011 - (RealEstateRama) -- A coalition of 45 national organizations sent a letter to President Barack Obama’s domestic policy and economic teams today asking that the Administration include at least $10 billion for the National Housing Trust Fund in the President’s jobs-creation plan.

WASHINGTON, D.C. - August 25, 2011 - (RealEstateRama) -- The latest Mortgage Bankers Association (MBA) mortgage report shows a rise in 30-day delinquencies, including an increase in late payments on prime, fixed-rate mortgages. Overall, the picture hasn’t changed significantly from first quarter, as one in 11 mortgage holders remains at serious risk of foreclosure (60 days delinquent or more).

NEW YORK, NY - August 25, 2011 - (RealEstateRama) -- Jones Lang LaSalle announced its New York Capital Markets team has closed the sale of 1552 Broadway for the Riese Organization. A joint venture of SL Green and Wharton Acquisitions purchased the 15,000-square-foot retail property for $136,550,000.

Scottsdale, AZ - August 25, 2011 - (RealEstateRama) -- In July 2011, GPE Commercial Advisors reported closing five purchase transactions for $4.2M (51,850 square feet plus a 38.16 acre land sale), 12 lease transactions for $1.8M (37,136 square feet). C...

NEW YORK CITY, N.Y. - August 25, 2011 - (RealEstateRama) -- Hudson Realty Capital LLC, a Manhattan-based real estate fund manager specializing in the middle market, has funded a $5.65 million DPO loan for a 14,000-square-foot mixed-use loft building in New York City. The sponsor is utilizing the proceeds to refinance and renovate the five-story building located in the heart of the city’s Tribeca neighborhood.

EUGENE, OR - August 25, 2011 - (RealEstateRama) -- Today, IDX, Inc. welcomes John Williams of M.O.R.E. Realtors to the growing network of agents and brokers who have chosen to integrate the dynamic IDX Broker software onto their real estate websites. Williams, a member of the Mid-America Regional Information Systems (MARIS), now hosts a comprehensive database of listings online, supplying his clients with a complete online real estate resource for their property search.

Fort Lauderdale, FL - August 25, 2011 - (RealEstateRama) -- Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the Bank of America Office Plaza, a six-story office building located in Hollywood, FL, according to Gregory Matus, Regional Manager / Vice President of the firm’s Ft. Lauderdale office. The asset commanded a sales price of $5,425,000

NEW YORK CITY, NY - August 25, 2011 - (RealEstateRama) -- The Empire State Building and Walgreens have completed a transaction to benefit the building’s neighborhood, tenants, and visitors to its world-famous Observatories. Walgreens, the nation’s largest drugstore chain, has just renewed its lease on the ground floor of the building’s corner at Fifth Avenue and 33rd Street, and exchanged 10,000 square feet on the concourse level of the property for 10,000 square feet on the second floor.

Torrance, CA - August 25, 2011 - (RealEstateRama) -- Prior to joining Pircher, Nichols & Meeks, Giselle was an associate with O’Donnell & Associates. She was a trial attorney focused on complex business litigation with a proven ability in intellectual property, class action, real estate, white-collar criminal, antitrust, appellate and environmental litigation. While there, she first-chaired and won a breach of contract case. In addition, Roohparvar has also held associate and research associate positions at Greenberg Traurig, LLP and Johns Hopkins University School of Advanced International Studies, respectively.

NEW YORK CITY, NY - August 25, 2011 - (RealEstateRama) -- Starbucks has taken the last remaining retail space at W&H Properties’ 1350 Broadway, completing the retail repositioning of the property, announces Anthony E. Malkin, president of Malkin Holdings, which supervises W&H Properties.

Las Vegas, NV - August 25, 2011 - (RealEstateRama) -- While short sales minimize damage to your credit versus foreclosure, the fact remains that the goal of every short sale is to walk away without the bank coming after you at some future date down the road. So why are some homeowners asked to pay substantial promissory notes in exchange for a short sale approval, while other homeowners are not asked to pay a promissory note at all? The answer can almost always be found by looking at the experience (or lack of experience) of the Real Estate Agent. There are certain factors which minimize hardship in the eyes of banks and bank Investors, and are essentially short sale deal killers. A Realtor experienced with short sales will be able to explain the banks perception of hardship and how it applies to your particular situation.

Madrid, Spain: - August 25, 2011 - (RealEstateRama) -- The Spanish Government has cut value added tax on new property in Spain by 50 per cent with immediate effect. The reduction in VAT (Spanish - IVA) from eight per cent four per cent on new build Sp...

Elgin, IL - August 25, 2011 - (RealEstateRama) -- The RE/MAX office in Skokie, Ill., has been purchased by Mark Feyman and Ivana Shudnow, both real estate veterans. The office, which was purchased in late July, will remain for the time being at 3947 Dempster St. Formerly called RE/MAX 1st Class Realty, its name has been shortened to RE/MAX 1st Class. The focus will continue to be on providing top service to customers -- but in more than just the residential real estate sector

Washington, DC - August 25, 2011 - (RealEstateRama) -- Commercial real estate vacancy rates are flat and projections for growth have been moderated because economic growth and job creation have been weaker than expected, but modest improvements are expected over the coming year, according to the National Association of Realtors®

EUGENE, OR - August 25, 2011 - (RealEstateRama) -- With new accounts being added daily, IDX, Inc. announces the latest addition to the growing network of agents and brokers utilizing the remarkable IDX Broker software: SoCal real estate broker Kal Ibrahim. A member of California Real Estate Technology Services (CARETS), Ibrahim can now sync thousands of area listings directly onto the IDX-enabled search page he hosts. Finding an Orange County home online has never been easier, thanks to IDX Broker software and the comprehensive online real estate database Ibrahim has created with his customizable IDX solution.

Washington, DC - August 25, 2011 - (RealEstateRama) -- To help develop policies that will stabilize the nation’s housing market and support an economic recovery, the National Association of Realtors® urges the White House to host a summit of policy makers, industry leaders and government stake holders focused on revitalizing the nation’s housing

EUGENE, OR - August 25, 2011 - (RealEstateRama) -- IDX, Inc. and Jon Christopher have brought a new IDX solution to the Southeast Pennsylvania area real estate market. IDX Broker software now syncs directly to the website of Christopher, extracting raw...

Washington, DC - August 25, 2011 - (RealEstateRama) -- Changes to the mortgage interest deduction could dramatically impact home owners and aspiring home owners in Grand Rapids, Mich., and beyond. That’s just one of the many issues the National Association of Realtors® wants Michigan residents to know about as the Home Ownership Matters Bus Tour pulls into Grand Rapids this week.

Torrance, CA - August 24, 2011 - (RealEstateRama) -- Steven H. Shapiro has joined Pircher, Nichols & Meeks as a corporate partner in its Chicago office. His practice will focus on corporate governance, securities law, mergers & acquisitions and financings.

Miami, FL - August 24, 2011 - (RealEstateRama) -- CBRE arranged two leases totaling more than 58,000 square feet at the newly renovated Miami Lakes Business Center located at 5875 NW 163rd Street in Miami. Building owner Keystone Property Group, based in Bala Cynwyd, Pennsylvania, invested more than $5 million in a complete renovation of the property that included new high impact windows, a back-up generator with the capacity to power the entire building for tenant operations, new chillers and other building systems as well as the exterior areas including the parking lot and landscaping.

San Antonio, TX - August 24, 2011 - (RealEstateRama) -- Led by the Miami Capital Markets team in partnership with the San Antonio office, CBRE arranged the loan refinance on Promontory Pointe, a 596-unit apartment community in San Antonio, Texas, on behalf of Advenir@Promontory, LLC, a Florida-based owner of multihousing communities. Financing terms of the $39,761,000 loan include a 10-year term, an aggressive interest rate, with an extended interest-only financing period at an 80% loan-to-value ratio.

Mount Laurel, NJ - August 24, 2011 - (RealEstateRama) -- As part of its exclusive national representation of Lumber Liquidators, Metro Commercial announced that it has brokered 7 leases totaling nearly 46,000 square feet. Metro Commercial’s Brandon Anapol, along with Tom Londres, Dan Brickner, Steve Niggeman and Phil Azarik serve at the Exclusive Leasing Team for the national retailer.

NEW BRUNSWICK, N.J. - August 24, 2011 - (RealEstateRama) -- The New Jersey Chapter of NAIOP, the Commercial Real Estate Development Association, applauds the Christie Administration for signing legislation (S-2974 Lesniak/ Sweeney, A-4221Coutinho/Bucco/Burzichelli) that places a two-year moratorium on the 2.5% non-residential COAH fee (essentially a job-killing tax) for eligible projects beginning July 2011 and ending July 2013

New York, NY - August 24, 2011 - (RealEstateRama) -- PCCP, LLC announced today it has provided a $23.75 million senior loan to Bala Cynwyd, PA-based Keystone Property Group. The loan facilitated the recapitalization of a five-building Class A office complex totaling just over 228,000 square feet within Sentry Park West in Blue Bell, PA (suburban Philadelphia). Keystone Property Group acquired the property in 2004. Located at 1777 Sentry Parkway West, the asset is situated near two major thoroughfares, the Pennsylvania Turnpike and Interstate 476

Dallas, TX - August 24, 2011 - (RealEstateRama) -- National retail and wholesale mortgage lender, Real Estate Mortgage Network, Inc. (REMN), is pleased to announce the launch of their new consumer direct lending division. Doing business under the name FinanceMyHome.com (www.FinanceMyHome.com), this new lending division will service the needs of home buyers who prefer the convenience of securing mortgages online. Headquartered in Dallas, TX, FinanceMyHome.com will share the customer first, quality-centric attributes that have helped REMN succeed for more than 20 years.

SEDALIA, MO - August 23, 2011 - (RealEstateRama) -- The 2011 Missouri State Fair ended Sunday, and State Treasurer Clint Zweifel (ZWY-ful) said 426 people went home knowing they will be receiving extra cash. During the course of the fair, $87,157 wo...

BATON ROUGE, LA - August 23, 2011 - (RealEstateRama) -- Today, Governor Bobby Jindal announced reappointments to the Louisiana Real Estate Appraisers Board. The Louisiana Real Estate Appraisers Board serves to regulate the issuance of real estate app...

MCCALL, ID - August 23, 2011 - (RealEstateRama) -- With the temperatures close to the 80s in August, it’s is easy to forget the long winters we love so much in McCall, and the high energy bills we don’t really love as much. Residents of The Spring...

EUGENE, OR - August 23, 2011 - (RealEstateRama) -- Today, IDX, Inc. is pleased to announce Isle of Palms, South Carolina real estate team John Gillies and Gabrielle Gregorie-Gillies have adopted a customizable IDX solution for their professional websit...