U.S. Department of Labor announces more than $3 million to continue assisting California workers affected by mortgage and banking industry layoffs

July 1, 2009 Posted by California RealEstateRama

WASHINGTON, DC - July 1, 2009 - (RealEstateRama) — The U.S. Department of Labor has announced a $3,026,914 National Emergency Grant increment to continue assisting 1,063 California workers affected by mass layoffs and closures in the mortgage and banking industries.

Brown Sues to Invalidate Pleasanton’s Illegal Housing Cap

June 24, 2009 Posted by California RealEstateRama

Pleasanton, CA - June 24, 2009 - (RealEstateRama) — Attorney General Edmund G. Brown Jr. today sued the City of Pleasanton to remove its “draconian and illegal” limit on new housing, a significant cause of traffic congestion, air pollution and urban sprawl in the East Bay and Tri-Valley area.

Kennedy Wilson Auction Group Appoints Jeff Condon as Vice President, Business Development

June 24, 2009 Posted by California RealEstateRama

BEVERLY HILLS, CA - June 24, 2009 - (RealEstateRama) — Kennedy Wilson Auction Group announced today that Jeffrey Condon has been named Vice President, Business Development. Condon is joining the group’s rapidly growing business development team in Beverly Hills.

CBIA Chairman Horace Hogan’s Remarks During Press Conference on State of the Industry at PCBC

June 18, 2009 Posted by California RealEstateRama

June 18, 2009 - (RealEstateRama) — Good morning, and thank you for joining us today, either in person or by conference call. I don’t think that I have to tell any of you that California’s homebuilding industry is in the worst shape ever. You have heard the statistics

HERREMA JOINS KENNEDY WILSON AS EXECUTIVE VICE CHAIR

June 17, 2009 Posted by California RealEstateRama

KW Capital Markets to Be Based in New York. BEVERLY HILLS, CA - June 17, 2009 - (RealEstateRama) — William J. McMorrow, chairman and chief executive officer of real estate services and investment firm/advisory firm Kennedy Wilson, today announced the appointment of Donald J. Herrema as executive vice chairman of the company and chief executive officer of its newly formed division Kennedy Wilson Capital Markets. Herrema will also join the company’s Executive Committee and be located in Kennedy Wilson’s New York City office which will open simultaneous with his appointment.

PARTNERSHIP LED BY KENNEDY WILSON ACQUIRES SIGNATURE LOS ANGELES CONDOMINIUM PROJECT

June 16, 2009 Posted by California RealEstateRama

KW Acquisitions in Last 12 Months Reach 1,000 Residential Units Valued at $250 Million. LOS ANGELES, CA - June 16, 2009 - (RealEstateRama) — An investment partnership led by the international real estate services and investment firm Kennedy Wilson has acquired the remaining 149 units in The Mercury, a 22-story luxury condominium tower on the corner of Wilshire Boulevard and Western Avenue, from investors led by Forest City Residential West. Vince Norris of Hendricks & Partners represented both the buyer and seller in the transaction.

calREDD announces intent to join CARETS

June 5, 2009 Posted by California RealEstateRama

calREDD™ announces intent to join CARETS. LOS ANGELES, CA - June 5, 2009 - (RealEstateRama) — calREDD™ today announced its intent to join California Real Estate Technology Services (CARETS). calREDD™, an acronym for California Real Estate Dynamic Data, embodies the long-term vision of creating one database for all California real property, with a focus on developing advanced technology that goes beyond current MLS systems. Formed in 2006, CARETS is a data aggregation service comprised of six MLSs in Southern California that share a vision of uniform data access, unified rules, and ease of use. CARETS now serves 30 REALTOR® associations and 100,000-plus members in Southern California.

Property Tax Savings from Assessor’s Valuation Review

June 1, 2009 Posted by California RealEstateRama

June 01, 2009 - (RealEstateRama) — Los Angeles County Assessor Rick Auerbach today announced completion of a decline in value review of 473,000 homes and condominiums in Los Angeles County. Auerbach stressed that due to the declining real estate market, it was his responsibility to review values to make sure homes are properly assessed.

Existing Home Sales Up 41.6 Percent In July, Says California Desert Association of REALTORS

May 20, 2009 Posted by California RealEstateRama

PALM DESERT, CA - May 20, 2009 - (RealEstateRama) — Corny Easter bunny jokes and the spirit of the season helped the California Desert Association of REALTORS® raise about $3,000 for its annual high school Scholarship Fund.

Congress Passes Housing Bill with Boxer Measures to Protect Taxpayers, Homeowners

May 20, 2009 Posted by California RealEstateRama

Washington, DC - May 20, 2009 - (RealEstateRama) — Today, the House and Senate gave final approval to a broad housing bill that would help homeowners refinance to stay in their homes, increase funding for foreclosure prevention efforts and establish new protections for renters who face eviction because they are living in foreclosed properties.

Brown Sues to Block Property Tax Rip-Off

May 13, 2009 Posted by California RealEstateRama

May 13, 2009 - (RealEstateRama) — San Diego-Continuing his fight to stop scams against homeowners, Attorney General Edmund G. Brown Jr. today filed suit against two brothers who “ripped off homeowners” seeking help in reducing their property tax assessments.

Federal Home Loan Bank of San Francisco Now Accepting Applications from Member Financial Institutions for $1 Million in Predevelopment Grants

May 12, 2009 Posted by California RealEstateRama

San Francisco, CA - May 12, 2009 - (RealEstateRama) — The Federal Home Loan Bank of San Francisco is now accepting applications for its 2009 Access to Housing and Economic Assistance for Development (AHEAD) Program, which allows members of the Bank to support economic and housing projects during their critical conception and early development stages. Since the program was launched in 2004, more than $1.5 million in AHEAD Program grants have been awarded to support 61 projects in Arizona, California, and Nevada. With demand for grants far exceeding supply, the Bank’s Board of Directors doubled the funding for the program in 2009, from $500,000 to $1 million.

Capps Votes to Strengthen Mortgage and Financial Fraud Enforcement

May 7, 2009 Posted by California RealEstateRama

WASHINGTON, D.C. - May 7, 2009 - (RealEstateRama) — Today Congresswoman Capps voted for legislation that would significantly enhance the enforcement and prosecution of mortgage and corporate fraud in an effort to better protect consumers. The Fraud Enforcement and Recovery Act (S. 386) will provide vital funding and tools to help law enforcement pursue and prosecute the type of financial fraud that is widely thought to have contributed to the current financial crisis. The legislation will also establish a bipartisan commission to fully investigate the causes of the near-collapse of our financial system and the ensuing recession in an effort to prevent this type of crisis from occurring again.

Turner Selected To Manage Construction Of $500 Million Terminal 2 Expansion At San Diego International Airport

May 7, 2009 Posted by California RealEstateRama

New York, N.Y., May 7, 2009 – Turner Construction Company was selected to serve as the design builder for the expansion of Terminal 2 at the San Diego International Airport in San Diego, Calif. The projected construction cost for the Terminal and Airside expansion is $500 million. Turner will manage the construction of the 470,000 sq. ft. expansion as the majority partner in a joint venture that includes Flatiron Corp., Turner’s sister company, and PCL Construction Services, Inc. The project is targeting a LEED Silver Certification from the United States Green Building Council upon completion in 2012

CFO SINK URGES CONTINUATION OF MY SAFE FLORIDA HOME PROGRAM WITH EXISTING FUNDS

May 1, 2009 Posted by California RealEstateRama

TALLAHASSEE, FL - May 1, 2009 - (RealEstateRama) — Florida Chief Financial Officer Alex Sink today sent a letter to Senate President Atwater and House Speaker Cretul urging the continuation of the successful My Safe Florida Home program with half of the funds remaining in the program. CFO Sink requested that at least 50% of the estimated $30-$40 million in unused funding be transferred into the FY 09-10 Budget, instead of forcing the My Safe Florida Home program to end this year

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