Real Estate Weekly News back issues from May 2009:
Pomona-based Community Mortgage Funding Names Andrea M. Blais as CEO.
May 01, 2009 ... Community Mortgage Funding LLC (CMF), a credit union-owned mortgage company located in Pomona, Calif., has named Andrea M. Blais, CMB, as CEO, effective March 30. Blais brings more than 20 years of experience in the credit union mortgage industry, where her career focus has been the ...
Officescape[R] Announces Alternative Officing Program.
May 01, 2009 ... Officescape has launched its Alternative Officing Program aimed at providing organizations with a means to cut real estate costs by adopting or improving upon an existing telework model. Officescape's Alternative Officing program reduces costs associated with real estate and energy usage ...
American Realty Capital Trust, Inc. to Acquire FedEx Freight Facility in a Major Metropolitan Market.
May 01, 2009 ... American Realty Capital Trust, Inc. ("ARCT" or the "REIT") announced that it has entered into an agreement to purchase a newly constructed distribution facility net-leased long-term to a subsidiary of FedEx Corporation (NYSE: FDX, S&P rated BBB). The sizeable facility is located in a major ...
Fitch Rates Merced Union High School District California's $25MM GOs 'A+'; Outlook to Negative.
May 01, 2009 ... Fitch Ratings assigns an 'A+' rating to Merced Union High School District, California's (the district) $25 million Election of 2008, series A general obligation (GO) bonds. Fitch also affirms the 'A+' rating on the district's $23 million of outstanding GO bonds. The bonds are expected to ...
DWS RREEF Real Estate Fund and DWS RREEF Real Estate Fund II Announce Election to Opt Into Maryland Control Share Acquisition Act, Adoption of Rights Agreement and Amendment of the Funds' By-Laws.
May 01, 2009 ... The Board of Directors of DWS RREEF Real Estate Fund, Inc. (AMEX:SRQ) ("DWS RREEF I") and of DWS RREEF Real Estate Fund II, Inc. (AMEX:SRO) ("DWS RREEF II") (each, a "Fund," and together, the "Funds") announced that it had approved certain measures to enhance its ability to protect the ...
Governor Rendell Announces Another Year of Property Tax Relief for Homeowners.
May 01, 2009 ... Pennsylvania homeowners will receive nearly $770 million in property tax relief in 2009 under the latest installment from the historic Taxpayer Relief Act, Governor Edward G. Rendell announced. All Pennsylvania homeowners in 66 counties can receive reductions in the school ...
Generation Mortgage Reports 233 Percent Growth In 2009, Becomes Sixth Largest Reverse Mortgage Lender In U.S.
May 01, 2009 ... In the first quarter of 2009, Generation Mortgage Company's(TM) combined retail and wholesale divisions closed 1,405 Home Equity Conversion Mortgages (HECM). This represents the most reverse mortgages the company has closed over the same period since opening for business in 2006. ...
Industry Leader Says: Realtors Can Be Agents for Change in Turning Market Around.
May 01, 2009 ... Realtors need to become catalysts for change in the downtrodden real estate market by helping homeowners avoid foreclosure. That's the message from real estate veteran Alex Charfen, founder of The Distressed Property Institute in Austin, Texas. Charfen is speaking to thousands ...
First Internet Bank Begins Offering Jumbo Mortgage Loans.
May 01, 2009 ... First Internet Bank announced that it has begun to offer jumbo loans. Jumbo loans are mortgages that exceed conforming limits ($417,000 in most parts of the country and as high as $729,750 in certain markets) and are not guaranteed by government-backed mortgage agencies Fannie Mae or ...
Florida Realtors and Gov. Crist Agree: 'Now's the Time to Buy' a Home in Florida.
May 01, 2009 ... Ten Realtors(R) from across Florida met with Gov. Charlie Crist this morning to discuss increased home sales and other positive trends in their markets, as well as offer insight into some current issues facing the real estate industry. It's part of this year's Great American Realtor Days, ...
Bankrate: Mortgage Rates Inch Lower.
May 01, 2009 ... Mortgage rates were down slightly this week, with the average 30-year fixed mortgage rate dipping to 5.18 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.44 discount and origination points. The average 15-year ...
Fort Lauderdale Real Estate Agent's 'Deal of the Week' Program Offers Buyers Prize and Cash Incentives on Foreclosures.
May 01, 2009 ... Beginning this week, the Fort Lauderdale Real Estate Blog will feature the best foreclosure deals on the market in its "Deal of the Week" program. The Fort Lauderdale Real Estate Blog is a top-rated real estate website operated by Robin Sing-Cunningham, a Fort Lauderdale-based ...
GMAC Mortgage Formalizes Participation in Home Affordable Modification Program.
May 01, 2009 ... GMAC's mortgage servicing operations this week formalized the company's commitment to participate in the Home Affordable Modification Program (HMP) to assist struggling homeowners. GMAC Mortgage LLC signed the HMP servicer participation agreement on April 13, but started early in 2009 to ...
YouPriceIt.com Consolidates Resources for Real Estate Buyers, Sellers and Agents in One Revolutionary Hub.
May 01, 2009 ... Homeowners looking to buy or sell property now have a revolutionary new online resource in YouPriceIt.com (http://www.youpriceit.com/). Offering an extensive library of real estate-related tools and customized guidance, YouPriceIt.com's innovative platform supports buyers, sellers and even ...
First-Time Home Buyers and Existing Homeowners Strive for Long-Term Investment.
May 01, 2009 ... With an $8,000 tax credit for first-time home buyers, low mortgage rates and reduced housing prices, many Americans will seek safeguards to weather economic turmoil as they become new homeowners. Meanwhile, sellers are looking for a competitive edge, while existing homeowners, who can't or ...
Hanover Real Estate Partners Appoints CB Richard Ellis as Exclusive Leasing Agent for 365,000-Sq.-Ft. Office Building in Warren, N.J.
May 01, 2009 ... CB Richard Ellis, New Jersey's largest commercial real estate brokerage firm, has been named exclusive leasing agent for 184 Liberty Corner Road, a 365,000-square-foot office building in Warren, New Jersey. CBRE's Geoffrey Schubert and Sam Buckley, senior vice presidents, will be ...
Three Real Estate Pros Win $23,000 Each From a la mode.
May 01, 2009 ... a la mode, a leading developer of desktop, mobile and web tools for real estate professionals, announced Rick Furmage, Cari Kresa and Rick Hoffman have won a total of $69,000 as part of its 23rd anniversary celebration. The giveaway was geared to showcase a la mode's stability and ...
LowerMyAssessment.com Helps Homeowners Save Money on Their Property Taxes.
May 01, 2009 ... Beginning this month, newly launched LowerMyAssessment.com will make it easier for residential property owners to appeal inaccurate property tax assessments. Our mission is to empower homeowners by providing all of the necessary forms, valuation assistance and knowledge to maximize the ...
Nation's Top Foreclosure Site Reports New Foreclosure Rate Data.
May 01, 2009 ... Foreclosurelistings.com has been carefully following the effects of the economic package and reports that foreclosure numbers continue to surge. The most recent news was the president's introduction of the Homeowner Affordability and Stability Plan. Under the ...
Unique Service Maximizes Prospective Buyer Leads for REALTORS.
May 01, 2009 ... The Premeos introduction of a new sales and marketing tool for REALTORS(R) allows agents to maximize their lead generation from the Internet, yard sign flyers and traditional marketing. As REALTORS(R) abandon many of their less productive marketing mediums, Internet-based ...
DIY is Back-With a Twist.
May 01, 2009 ... Do-It-Yourself (DIY) is enjoying resurgence in the tight economy, but not only for the reasons one might expect. While consumers are saving money on their home improvement projects, homeowners tell us they're doing it themselves because they like it. Eight out of every 10 ...
HFF, Macquarie and UBS Named to Market for Sale 52-Property Shopping Center Portfolio.
May 01, 2009 ... HFF (Holliday Fenoglio Fowler, L.P.) announced that it has been named as a co-advisor, along with Macquarie Capital Advisers Limited and UBS Securities, LLC, for a strategic review of Macquarie DDR Trust's ("MDT") U.S. based real estate assets and to market for sale a 52-property shopping ...
Beazer Homes Launches Home Organization Tour to Showcase Unique SMARTDESIGN[R] Features.
May 01, 2009 ... Beazer Homes USA, Inc. (NYSE: BZH), one of the country's top 10 homebuilders, announced a multi-city spring 2009 Home Organization Tour with Monica Ricci, a nationally-recognized organizing expert known for her upbeat and inspirational advice for de-cluttering living spaces. The ...
Retirement Communities May Benefit from Silver Lining in Economic Downturn.
May 01, 2009 ... According to a recent national survey of Coldwell Banker® real estate professionals, over half of those who work in popular retirement areas are seeing younger retirees (ages 60 and under) looking to purchase homes in their markets. Furthermore, 43 percent of all the sales ...
Courthouse Retrieval System Launches the Investor PowerTool Online.
May 01, 2009 ... Courthouse Retrieval System, Inc., announced release of the Investor PowerTool online at http://www.crsdata.com/powertools/investor/ . The Investor PowerTool from Courthouse Retrieval System gives real estate investors the ability to find and analyze real estate investment opportunities ...
Online Property Tax Appeal Service Expanded to Phoenix, Arizona.
May 01, 2009 ... Effective immediately, homeowners in Phoenix, Arizona can now take advantage of the do-it-yourself online tax appeal service, EasyTaxFix.com. The service expansion is the latest step in a nationwide rollout. With the expansion announced, an owner of a residential property in ...
Huge Dallas Fort Worth Area Real Estate Auction of 85 New Builder Inventory Homes to be Held on Sunday April 26, 2009.
May 01, 2009 ... Real estate auction firm, Radius Management, LLC is pleased to announce it is placing over 85 brand new homes up for public auction and all properties MUST BE SOLD. The majority of homes being offered for bid are composed of new builders' inventory, most of which have never been occupied ...
Queercents: Recovering From Foreclosure and Bankruptcy.
May 01, 2009 ... Foreclosure and bankruptcy rates continue to rise around the country. In this time of economic unrest, Queercents (http://www.queercents.com/), a personal finance blog serving the lesbian, gay, bisexual and transgender (LGBT) community, is detailing the recovery process from bankruptcy and ...
DS News Reports on TARP Results.(Financial report)
May 01, 2009 ... In an exclusive article in the April issue of DS News, the only news source dedicated entirely to the residential mortgage default servicing industry, Adam Weinstein, a former editor of the Wall Street Journal, poses the question: did the Troubled Asset Relief Program (TARP) trickle away ...
Arrow Reports Strong First Quarter Operating Results.
May 01, 2009 ... Arrow Financial Corporation (NasdaqGS(R): AROW) announced operating results for the quarter ended March 31, 2009. Net income for the first quarter of 2009 was $6.7 million, representing diluted earnings per share (EPS) of $.63, or $.16 above the diluted per share amount of $.47 earned in ...
Connecticut Valley Homes Announces Partnership with Haven Custom Homes.
May 01, 2009 ... Connecticut Valley Homes recently partnered with Haven Custom Homes to formalize its position as Haven's Certified Builder serving most of Connecticut and Rhode Island, plus Block Island and Fishers Island. Haven's Certified Builder program provides partner builders, like Connecticut ...
Harvard Real Estate Services: 'We Are Thrilled With Building Engines'.
May 01, 2009 ... One year ago, and following an extensive review and due diligence process involving several potential industry vendors, Harvard Real Estate Services (HRES) identified Building Engines as the clear choice to provide and service a Web-Based Operations Management solution for their real ...
Justice Department Resolves Lawsuit Alleging Disability-Based Housing Discrimination at 12 Multifamily Housing Complexes in Louisville, Kentucky.
May 01, 2009 ... The Justice Department announced that a federal district court judge in Louisville, Ky., approved a settlement of the Department's lawsuit alleging that those involved in the design and construction of 12 multifamily housing complexes discriminated on the basis of disability. The complexes ...
New York Mortgage Trust Announces $9 Million Investment in Cratos CLO I, Ltd.
May 01, 2009 ... New York Mortgage Trust, Inc. (the "Company") (NASDAQ:NYMT) announced the closing of its $9 million initial investment in deeply discounted notes issued by Cratos CLO I, Ltd. (the "CLO"), a collateralized loan obligation. This marks the Company's first investment under its alternative ...
Anworth Announces Quarterly Dividends.
May 01, 2009 ... Anworth Mortgage Asset Corporation (NYSE: ANH) announced that its board of directors declared a quarterly common stock dividend of $0.30 per share for the first quarter of 2009. The common stock dividend is payable on May 19, 2009 to common stockholders of record as of the close of ...
ContractorsFromHell.com Presents: Home Remodeling Boot Camp for Homeowners.
May 01, 2009 ... The Home Remodeling Boot Camp, an online membership site created by Jody Costello, founder of ContractorsFromHell.com, is designed to teach consumers to be their own best advocate and in control of their project by engaging them in doing the necessary homework, giving them the tools and ...
Luxury Real Estate Sales Continue to Boom in Punta del Este, Uruguay, Despite Global Crisis.
May 01, 2009 ... While property prices in destinations like Europe and North America have been deeply affected by the global financial crisis, luxury real estate in this renowned South American getaway remains exceptionally strong. As befits Punta del Este's newest and most exclusive development, the ...
Completed Cascades Riverfront Condominiums Defy Slumping Housing Market.
May 01, 2009 ... The Cascades at Winooski Falls, (www.cascadesvt.com) a 5+ ENERGY STAR (R) rated luxury riverfront condominium project in an award winning, revitalized Vermont downtown neighborhood, has completed construction and is ready for occupancy. The Winooski Falls neighborhood has been nationally ...
Consolidated Tomoka Announces First Quarter Earnings.(Financial report)
May 01, 2009 ... Consolidated-Tomoka Land Co. (NYSE Amex: CTO) reported net income of $322,206 or $.06 earnings per basic share and earnings before depreciation, amortization and deferred taxes (EBDDT) of $858,325 or $.15 per basic share for the quarter ended March 31, 2009. The comparable numbers for the ...
Mortgagebrokers.com Holdings, Inc., Canada's No. 1 Ranked Emerging Growth Company Announces Record 2008 Revenue and Profit.(Financial report)
May 01, 2009 ... MortgageBrokers.com Holdings, Inc. (OTCBB: MBKR, the "Company", "Mortgagebrokers.com"), one of North America's fastest growing new mortgage broker brands and mortgage consolidation companies, is pleased to announce that it achieved record financial results for its fiscal year ended ...
Realty Finance Corporation Receives Notice of Non-Compliance With CDO 2007-1 Coverage Tests.
May 01, 2009 ... Realty Finance Corporation (Other OTC: RTYFZ) announced that on April 14, 2009 the Company received written notice from the trustee of RFC CDO 2007-1, Ltd. ("CDO II"), in accordance with the Indenture, dated as of April 2, 2007, that on the April 7, 2009 payment date, CDO II failed certain ...
Rubenstein Public Relations to Represent Leading New York Real Estate Trade Advocacy Association.
May 01, 2009 ... Community Housing Improvement Program (CHIP), a trade advocacy association that represents 1,000 members who own or manage 250,000 residential rental units, has hired Rubenstein Public Relations (RPR) to provide targeted media outreach and amplify its message in New York City and Albany. ...
VIST Financial Announces $40 Million Community Builder Initiative to Stimulate Regional Economy.
May 01, 2009 ... VIST Financial Corp (NASDAQ:VIST) announced it has created an initiative to offer low-interest mortgages to qualified homebuyers who purchase new homes with local home builders who are clients of VIST. The initiative, which is intended to stimulate the regional economy, will be offered ...
DiamondRock Reports Preliminary First Quarter RevPAR and EBITDA Results.(Financial report)
May 01, 2009 ... DiamondRock Hospitality Company ("DiamondRock") (NYSE:DRH) announced preliminary RevPAR and EBITDA results for the fiscal quarter ended March 27, 2009. The projected financial information for the fiscal quarter ended March 27, 2009, specifically, EBITDA and the related ...
Mike Hooper Named Entrepreneur Young Professional of the Year.
May 01, 2009 ... The South Tampa Young Leaders and Executives (S.T.Y.L.E.), the official young professionals group of the South Tampa Chamber, presented its prestigious Entrepreneur Young Professional of the Year Award to Mike Hooper, President & CEO of Rent the Bay.com and The Bay's Best.org. The award is ...
Neighborhoods Stabilized - Communities Revitalized on National Rebuilding Day, April 25th.
May 01, 2009 ... Rebuilding Together will officially launch its 2009 campaign to preserve affordable housing by hosting the 21st annual National Rebuilding Day on April 25th. The Rebuilding Together Affiliate Network, of more than 200 affiliates, will bring thousands of volunteers together to engage in ...
SRS Energy Partners With US Tile to Offer First Seamless Solar Roofing Upgrade for Authentic Clay Tile Roofing Systems.
May 01, 2009 ... SRS Energy, a leading developer of sustainable solar roofing options, has forged a partnership with US Tile, the largest manufacturer of authentic clay tile in the United States, to offer the first seamless solar roofing upgrade for premium curved roofing systems. The first ...
Senior Lending Network Launches Bank Direct Partner Program.
May 01, 2009 ... As part of its ongoing commitment to enhancing the retirement lifestyles of this nation's seniors, Melville, N.Y.-based Senior Lending Network announced the official launch of its Bank Direct Partner Program. This new initiative is the first in the industry and enables ...
Red Mango Announces Record Franchise Expansion.
May 01, 2009 ... Red Mango, one of the fastest-growing retailers of authentic nonfat frozen yogurt, has announced record franchise development during the first quarter of 2009. Development deals with existing and new franchisees will result in some 128 new Red Mango stores to be added to the franchise ...
Generation Y: Bullish on U.S. Housing Market.
May 01, 2009 ... The first major survey into Generation Y's perception of the U.S. housing crisis reveals a surprisingly strong sense of optimism about the future despite cautious near-term sentiment. While the housing industry is readying for this wave of future homeowners (approximately 80 ...
William Lyon Homes Announces Modified Dutch Auction Tender Offer for Senior Notes of William Lyon Homes, Inc.
May 01, 2009 ... William Lyon Homes (the "Company") announced that its wholly-owned subsidiary, William Lyon Homes, Inc. (the "Issuer"), has commenced a cash tender offer (the "Tender Offer") to purchase the maximum aggregate principal amount of its outstanding 7?% Senior Notes due 2012 (CUSIP No. 552075 ...
CIM Group Announces Long-Term Lease with Walgreens at Downtown Office Property.
May 01, 2009 ... CIM Group announced that Walgreens has agreed to a long-term lease for approximately 14,000 square feet of previously vacant retail space at 1333 Broadway in downtown Oakland. The store is expected to open in the first quarter of 2010. Commenting on the announcement, Jeff ...
Sterling Construction Company, Inc. Was Selected Construction Manager at Risk on a $25 Million Project in San Antonio.
May 01, 2009 ... Sterling Construction Company, Inc. (NasdaqGS: STRL), ("Sterling" or the "Company") announced that its subsidiary, Texas Sterling Construction Co., was notified on April 13, 2009 that it was selected Construction Manager at Risk (CMR) by the City of San Antonio on a $25 million project to ...
Home Systems - Home Security Q1 09 Available Now.
May 01, 2009 ... Research and Markets (http://www.researchandmarkets.com/research/1cbb73/home_systems_home) has announced the addition of the "Home Systems: Home Security (Q1 09)" report to their offering. This report provides a market update and forecasts through 2012 for the U.S. home ...
Rebuilding Together Greater Dallas Celebrates National Rebuilding Day.
May 01, 2009 ... On April 25th thousands of low-income homeowners will have something to celebrate. Rebuilding Together, the nation's leading nonprofit working to preserve affordable homeownership and revitalize communities will undertake National Rebuilding Day. Rebuilding Together Greater Dallas along ...
Fitch Upgrades New Orleans, Louisiana GOs to 'BBB'.
May 01, 2009 ... During the course of routine surveillance, Fitch has upgraded the rating for the City of New Orleans, Louisiana unlimited tax general obligation (GO) debt to 'BBB' from 'BBB-'. This action affects $523.9 million in outstanding GO bonds. The bonds are general obligations of the city, ...
AvalonBay Communities, Inc. Announces $741 Million Loan Commitment.
May 08, 2009 ... AVALONBAY COMMUNITIES, INC. (NYSE:AVB) announced that the Company entered into a $741 million loan commitment with Deutsche Bank Berkshire Mortgage, Inc. on behalf of Freddie Mac (NYSE:FRE) under which the Company intends to obtain a total of $741,140,000 of capital from fourteen separate ...
Listing Syndication Made Easy for Real Estate Professionals.
May 08, 2009 ... XL Technologies, LLC, a leader in web-based software applications for the real estate industry, announced the addition of listing syndication to its eCampaignPro (www.ecampaignpro.com) suite of email marketing services for real estate professionals. The inclusion of ...
FICO Launches Mortgage Recovery Initiative to Address US Homeownership Crisis.
May 08, 2009 ... FICO (NYSE: FIC), the leading provider of analytics, decision management technology and consumer credit empowerment, today introduced the FICO® Mortgage Recovery Initiative (FICO® MRI) to help homeowners and lenders address the growing problem of mortgage foreclosures. Based on ...
U.S. FORECLOSURE INDEX: Foreclosures Soar in March, Up 44 Percent Over February's High.
May 08, 2009 ... Completed foreclosures hit another monthly record in March as 175,199 homes were lost to foreclosure, up 44 percent from February's record high, according to the latest U.S. Foreclosure Index released by ForeclosureS.com, a leading real estate information provider. The number ...
Construction Commences at County Operations Center in Kearny Mesa.
May 08, 2009 ... The San Diego County Board of Supervisors and developer, Lowe Enterprises, hosted community leaders and local officials at a groundbreaking ceremony April 8 to kick off construction of the first two office buildings at the new County Operations Center in the Kearny Mesa area of San Diego ....
America's Law Group Launches 'Homeowner Benefit Program' for Homeowners in Need of Mortgage Modifications.
May 08, 2009 ... America's Law Group, a national law firm devoted exclusively to loan modification and tax resolution, today launched its "Homeowner Benefit Program," which mandates a refund of retainer fees to all homeowners if, after fighting for loan modification on their behalf with banks and mortgage ...
Bankrate: Jumbo Mortgage Rates at a 2-Year Low.
May 08, 2009 ... Mortgage rates were mixed this week, with the average 30-year fixed mortgage rate inching upward to 5.23 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.47 discount and origination points. The average 15-year ...
Monarch Financial Reports Record First Quarter Profitability.(Financial report)
May 08, 2009 ... Monarch Financial Holdings, Inc. (NASDAQ:MNRK), the bank holding company for Monarch Bank, reported record first quarter profitability. Net income was $1,060,271 for the first quarter of 2009, up 9.5% from the same period in 2008 when net income was $968,201. Growth in profitability was ...
Real Estate CEOs Perceive Damaged Market with Glimmer of Hope.
May 08, 2009 ... Senior real estate executives anticipate access to capital may improve slightly in the next 12 months, yet they indicate that current conditions in the income-producing real estate sector -- encompassing office buildings, shopping malls, warehouses, hotels, and apartment buildings -- ...