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Title: Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com
Link: http://www.bizjournals.com/industries/industries/resi_real_estate/?ana=from_rss
Description: Residential Real Estate: headlines from the week of February 8, 2010
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Sacramento officials, FEMA call press conference on Natomas
Sacramento Mayor Kevin Johnson and city manager Ray Kerridge said Tuesday they will discuss the contents of a letter received by the Mayor?s Office from the Federal Emergency Management Agency regarding the city of Sacramento?s Natomas building permit issue at a Wednesday press conference.
Rybak, Coleman announce $41M for first-time homebuyers
Minneapolis Mayor R.T. Rybak and St. Paul Mayor Chris Coleman on Monday announced $41 million in new funding for first-time homebuyers to purchase homes in both cities.
Retired banker buys former Carl Pohlad house
The Edina home of former Minnesota Twins owner, banker and businessman Carl Pohlad sold last month to Ray and Shrley Bentdahl, a retired banker and his wife.
Survey: Houston home price cuts lower
Houstonians who were trying to sell their homes during January cut their asking prices less than homeowners elsewhere in the country, according to ZipRealty Inc.
Archstone apartments changes hands
The 678-unit Archstone Medical Center Apartments building has been purchased by a Chicago-area company.
Texas unveils veteran homebuyer discount
The state released $30 million today meant to assist veterans buying homes in Texas.
Condos spur uptick in home sales
The number of Nashville-area home sales again ticked upward, according to data released today by the Greater Nashville Association of Realtors.
Survey: Jobs, housing biggest local concerns
Employment and the residential housing industry were the top economic concerns for the majority of Memphians taking part in the latest SurveyMemphis.
Cousins profit up 18 percent 2009
Cousins Properties Inc. overcame more than $140 million in impairment charges to grow its profit by 18.5 percent in 2009. (CUZ)
Zillow: Pennsylvania mortgage rates rise, but stay below 5%
Average mortgage rates in Pennsylvania rose over the past week, but stayed just below 5 percent, according to mortgage rate Web site Zillow.com.
Denver-area home resales down in January from '09
Sales of existing homes in metro Denver were down 4.7 percent in January compared to the first month of 2009, but the average price homes sold for was up 11.6 percent, according to Metrolist Inc. data released Tuesday.
Hillsborough: Funds available for new construction
Hillsborough County?s Affordable Housing Department is looking to help fund rental projects that can begin immediately.
IAS: Denver-area home prices down 4% in 2009
Median home prices in metro Denver fell 4 percent in 2009, and were down 5.6 percent in the city of Denver itself, according to a report Tuesday from Integrated Asset Services LLC.
S. Fla. foreclosures down in January
The number of foreclosures last month in South Florida slid 7 percent, year-over-year, according to a new report by Condo Vultures.
Post Properties cuts loss to $10.9 million
Post Properties Inc. trimmed its losses in 2009. (PPS)
Realtor's Yun snowed out of Buffalo
Inclement weather has forced the cancellation of a high-powered guest speaker in Buffalo ? but in this case, the weather issues have nothing to do with Western New York.
Memorial service set for Carolyn Shamis
A memorial service for well-known North Texas real estate leader Carolyn Shamis is set for 4:30 p.m. Wednesday at Arlington Hall in Lee Park in Dallas.
Humanitri to double homeless housing in St. Louis County
Humanitri and the Saint Louis County Department of Human Services will more than double the number of transitional housing units available for homeless families as part of a $2.5 million federal grant.
Home prices in San Antonio are strong in high-performing school districts, study shows
A new study from Movoto Online Real Estate released Monday shows there is a correlation between school performance and home prices in select neighborhoods in Houston, Dallas and San Antonio.
Dayton nonprofits get $160K for housing services
Two Dayton-area nonprofit groups will receive more than $160,000 to provide housing services.
Maui home sales mixed in January
Sales of single-family homes on Maui got off to a strong start in January, with a nearly 50 percent increase in sales compared to last year.
Penrose Group sells Lofts at Park Crest
Behringer Harvard Multifamily REIT I Inc. has purchased The Penrose Group?s The Lofts at Park Crest in McLean for $67.5 million, according to the real estate investment trust?s latest filing with the U.S. Securities and Exchange Commission.
Albany apartment building sells for $2.4M
A 31-unit apartment building in Albany, N.Y., sold for $2.4 million.
Seasons on Lake Lanier sold
The Kolter Group LLC bought Seasons on Lake Lanier in Gainesville, Ga., from Wachovia for an undisclosed price.
Baptist Health seeks zoning change for $50M facility
Baptist Health Nursing & Rehabilitation Center will go before the Town of Glenville, N.Y. on Feb. 8, seeking a zoning change to let it begin construction on a $50 million assisted living facility.
Millenia-area bulk sale fetches $14.8M
A Hallandale Beach real estate firm bought more than half the units of a Millenia-area fractured condominium project for $14.8 million, or $59,677 per unit.
Local banks scurrying to find buyers for foreclosed homes
Desert Hills Bank is using some nontraditional marketing methods to unload its heavy portfolio of foreclosed properties, which totaled nearly $60 million at the end at the third quarter.
5 Questions about Real Estate-Owned Properties
Mike Thorell, President and CEO, Pinnacle Bank Time on the job: Less than a year
High hopes for apartment leasing, occupancy didn?t pan out perfectly
The traditional American Dream of having a steady job, shiny new car, and a house and mortgage has turned into the American Nightmare for many homeowners.
Condos mired by recession, positive attitudes prevail among developers
Condominiums located outside Downtown Memphis have survived the economic downturn with mixed results, primarily due to renewed pricing strategies and tailored marketing.
Real estate pros carve own niche during recession
When the music stopped during the first several months of the recession, commercial real estate professionals across the board found themselves scrambling for the remaining jobs.
Roberta Liss: Play to your strength
Roberta Liss, the new executive director of Rand Construction Corp., knew the industry was heavy on testosterone when she sought her first job after graduating from Penn State with a degree in architectural engineering. She recalls being asked in an interview, ?What are you going to do when a guy says ?OK, I?ll give you the job, but I want you to sleep with me??? Liss responded: ?I?ll subcontract that out.? She got the job.
Region?s glut of new homes is shrinking
Metro Atlanta?s glut of new homes is easing, and buyers may face limited choices in coming months. (PHM) (DHI) (KBH)
Anger over Charter seizure spearheads grass roots movement
Realtor Peter Parnegg pulls no punches when it comes to his opinion of the Jan. 22 federal seizure and sale of Albuquerque?s Charter Bank to a Texas-based bank.
Raleigh builder Vick offering memberships in Pinehurst Resort
PINEHURST ? Raleigh home builder Rex Vick Jr. is banking on a unique perk to help sell the 73 townhome units he?s building in the Sandhills golfing haven of Pinehurst.
CB Richard Ellis: Triangle building sales plunge
RALEIGH ? For the Triangle commercial real estate market in 2009, very few sellers were selling and equally few buyers were buying properties as investors and lenders tried to wait out the economic recession to find a better deal.
BAC faced challenging 2009, but made adjustments
The Builder?s Appliance Center didn?t bring in as much money last year, but its owners consider themselves lucky.
Ritz owner fights lender over sale
The owners of The Ritz-Carlton hotel in downtown Denver and a lender owed $20 million by the ownership group are in a pitched legal battle over the hotel?s sale.
Fannie Mae wants to take back two Bay area apartment complexes
Beacon Isles Apartments in Tampa and Preserve at Deer Park Apartments in Lutz are facing separate foreclosure actions from the Federal National Mortgage Association (NYSE: FNM) over mortgage defaults. (FNM)
Up close: Larry Woods
WINSTON-SALEM ? Growing up in the Harlem River Homes public housing project in New York City, Larry Woods saw firsthand the downward economic spiral that can occur when poverty is concentrated in one part of a community.
Two Cachet Homes subdivisions in East Valley facing trustee sale
Wells Fargo Bank NA filed a notice of trustee sale on two subdivisions being developed by Phoenix-based Cachet Homes: the 25-acre Stratland Shadows parcel in Gilbert and the 5.6-acre Serenity Shores community in Chandler.
Plan for Clinton Drive stirs East End interest
KBR Inc.?s decision to cancel a West Houston campus and consolidate downtown was the real estate buzz last week.
Developers give condos second shot
Developers who rushed to convert condos to apartments during the darkest days of the economic crisis are dusting off their marketing plans, and in some cases, reopening sales offices.
Burns & Scalo to build Downtown high-rise on Smithfield St.
Jim Scalo wants to develop Pittsburgh?s next high-rise tower on a Smithfield Street riverfront plot.
San Leandro moves on transit-linked projects
San Leandro is beginning to see its transit-oriented dreams come true.
Yelp expands lease at historic 706 Mission St.
Here is one building sure to get a great review on Yelp: 706 Mission St.
Return of the suburbs? Three projects near approval
Record-low levels of residential construction are not deterring prominent developers who want to open almost 10,000 acres for new housing.
Historic Haman House falls victim to bankruptcy
A century-old house at the center of community events, family celebrations and political fundraisers in downtown Roseville has become the latest property for sale in one of the largest-ever bankruptcy cases in the Sacramento region.
Foreclosure mediation program may help clear cases
Most of the state?s 20 judicial circuits are scrambling to meet the requirements of a Florida Supreme Court order mandating they implement a managed mediation program for foreclosed homes.
State of housing: Mostly above water
Massachusetts is a hot spot for home equity when compared with the rest of the nation, but pockets of distress remain as strategic defaults and foreclosures escalate in neighborhoods where housing prices have fallen far below mortgage debt.
Developers top unpaid tax rolls in Mecklenburg County
Thousands of property owners in Mecklenburg County owe a total of more than $70 million in unpaid taxes, according to a Charlotte Business Journal review of delinquent bills.
Edwards Cos. bringing more Gay Street condominiums on line
Edward Cos. is moving ahead on the fourth section of its East Gay Street condominiums, even as other urban developers shy away from for-sale housing projects.
Waterfront Group finds a niche with problem developments
A few years ago, twin brothers Mark and Will Adkins were running a $100 million company and selling dream properties. Now they?re using their real estate acumen and helping banks out of potential nightmares.
Options exist for buyers of distressed property
The flood of distressed commercial real estate transactions predicted to occur in 2009 did not come to pass.
Going green: Area business execs giving generously to Walker and Barrett
Considering the state?s economy is crawling out of a recession, the two leading candidates to become the next governor are having no trouble raising campaign contributions from southeast Wisconsin?s business community.
Startup Roanoke sees big value in buying troubled loans
When a bank fails somewhere across the country, its closure is good news for one new Seattle company.
Escala sales don?t stack up
The downtown Seattle condominium development Escala has sold just six units out of 269 available ? a fraction of what developers of the luxury tower initially projected they would sell by this time.
Lawmakers target real estate taxes
The state Legislature has turned to the real estate industry in its search for additional revenue, proposing to levy a special 1 percent general excise tax on businesses that sell real property.
Oahu?s housing market enjoys momentum, long term unclear
Brian Benton is the 2010 president of the Honolulu Board of Realtors and a broker-in-charge for Prudential Locations. He offered his outlook for Oahu?s residential real estate market for 2010 to PBN?s Janis L. Magin.
Appraisals affect home prices, even whether deals fall apart
Home sales may be up for most of Hawaii, but declining prices in certain areas have caused some sales to fall apart.
Ewa Oahu, Kapolei housing market suddenly gets hot
Berton Hamamoto has been amazed by the bidding wars he has been seeing for homes in Ewa and Kapolei.
