Recovery Act Funding Will Create Local Construction Jobs, Improve Learning Facilities for Sacramento Students

SACRAMENTO, CA - March 17, 2010 - (RealEstateRama) — Today, Congresswoman Doris Matsui (D – Sacramento) announced the award of a $19,342,000 qualified school construction bond, administered by the Department of Treasury and authorized by the Recovery Act, which Rep. Matsui supported last year.  Qualified school construction bonds can be used to finance the construction, rehabilitation or repair of a public school facility or for the acquisition of land where a school will be built. more »

SACRAMENTO, CA - March 17, 2010 - (RealEstateRama) — The pace of home sales at California new-home communities in January continued at moderately lower levels when compared to the same period a year ago, the California Building Industry Association reported today. more »

LOS ANGELES, CA - March 12, 2010 - (RealEstateRama) — Thousands of potential home buyers are expected to converge this weekend for the third annual Southern California Home Buyer’s Fair at the Los Angeles Convention Center in downtown Los Angeles. The Southern California Home Buyer’s Fair, open 10 a.m. to 5 p.m. Saturday, March 13, and 11 a.m. to 4 p.m., Sunday, March 14, features more than 50 educational “how-to” seminars designed to help home buyers navigate today’s real estate market with confidence and peace of mind. The event is free to the public, and the first 200 attendees each day will receive a free AMC Entertainment movie ticket (one ticket per person). more »

Bi-partisan Bill Follows California’s Lead and Provides National Standards for Use of Toxins

WASHINGTON, D.C. - March 12, 2010 - (RealEstateRama) — Today, Congresswoman Doris Matsui (D-CA) announced the introduction of H.R. 4805, the Formaldehyde Standards for Composite Wood Act, in partnership with Congressman Vernon Ehlers (R-MI).  The bipartisan bill will adopt national standards under the Toxic Substances Control Act (TSCA) for formaldehyde in composite wood products.  The legislation would also protect the health of American families from the high use of this toxin in common, household items, including hundreds of everyday applications, ranging from paneling and flooring, to cabinets, doors, shelving, molding, and countertops. more »

Foreclosure protection offered to displaced families in six counties

WASHINGTON, DC - March 11, 2010 - (RealEstateRama) — U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to counties in California and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding, debris and mud flows during January and February. more »

First-time buyers, distressed properties drove California’s housing market in 2009, C.A.R. reports

LOS ANGELES, CA - March 10, 2010 - (RealEstateRama) — Affordable home prices, tax credits for home buyers, historically low interest rates, and a large number of distressed properties prompted many first-time home buyers to enter the market in 2009, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) 2009-2010 “State of the California Housing Market” report released today. more »

Washington, D.C. - March 9, 2010 - (RealEstateRama) — Speaker Nancy Pelosi released the following statement today on the Treasury Department’s allocation of $700 million to California’s housing finance agency under the President’s most recent $1.5 billion initiative to prevent foreclosures in the five hardest hit states. more »

C.A.R. to give away free iPod shuffles, movie tickets at Southern California Home Buyer’s Fair March 13 and 14

LOS ANGELES, CA - March 8, 2010 - (RealEstateRama) — The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) will give away 20 iPod shuffles and 400 movie tickets the weekend of March 13 and 14 at the third annual Southern California Home Buyer’s Fair at the Los Angeles Convention Center. more »

March 5, 2010 - (RealEstateRama) — The City of Long Beach is offering each residence affected by the gas line in North Long Beach that was shut off for safety reasons a housing reimbursement of up to $75 per night, per household, for each night they are affected. In addition, the City is offering each household a meal reimbursement of up to $6 per person, per meal each day to the point gas service is restored. more »

LOS ANGELES, CA - March 3, 2010 - (RealEstateRama) — The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) recently was selected to serve as the Ambassador Association to the Real Estate Institute of Australia (REIA), the Association’s counterpart in Australia, through the NATIONAL ASSOCIATION OF REALTORS®’ (NAR) International Ambassador Association Program. more »

Announces More Than a Quarter Million Loan Modifications Completed

February 26, 2010 - (RealEstateRama) — Governor Arnold Schwarzenegger today highlighted the success of his Administration’s efforts to keep California residents in their homes during these difficult economic times, a year after he signed the California Foreclosure Prevention Act (CFPA), a law to promote affordable loan modifications for distressed homeowners who might otherwise face foreclosure. more »

LOS ANGELES, CA - February 26, 2010 - (RealEstateRama) — Changes in family and employment status as well as adjustments to monthly mortgage obligations played significant roles in California’s homeowners’ decisions to sell their homes in 2009, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2009-2010 Survey of California Home Sellers.” According to the report, 67 percent of all sellers in California did so as a result of difficulties related to meeting their mortgage obligation. more »

SACRAMENTO, CA - February 25, 2010 - (RealEstateRama) — New-home building in California rebounded in January from a year earlier, but homebuilding officials cautioned against calling it a recovery as the numbers for January 2009 were extremely low, the California Building Industry Association announced today. more »

WASHINGTON DC - February 25, 2010 - (RealEstateRama) — Rep. Linda Sánchez, Member of the House Ways and Means Committee, introduced a bill today that would bolster the development of low-income housing. The Low-Income Housing Tax Credit Exchange Expansion and Job Creation Act of 2010 would promote the development of low-income housing by allowing investors to exchange otherwise unusable low-income housing tax credits for cash to be put toward the development of this housing. more »

LOS ANGELES, CA - February 24, 2010 - (RealEstateRama) — Home sales decreased 10.6 percent in January in California compared with the same period a year ago, while the median price of an existing home rose 15 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. more »