Yearly Archives: 2009

C.A.R. reports entry-level housing affordability reached 64 percent in the third quarter of 2009. LOS ANGELES, CA - November 13, 2009 - (RealEstateRama) -- The percentage of households that could afford to buy an entry-level home in California stood at 64 percent in the third quarter of 2009, compared with 55 percent (revised) for the same period a year ago, according to a report released today by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).

WASHINGTON, DC - November 10, 2009 - (RealEstateRama) -- Congresswoman Doris O. Matsui (D-Sacramento) announced that $344,621 has been awarded to the Sacramento County Department of Health and Human Services through a federal grant from the Health Resources and Services Administration to support outreach and primary care services for homeless populations in Sacramento. Thanks to this funding, the Mercy Clinic at Loaves and Fishes will continue to provide area homeless with outpatient primary and public health care services--as well as inpatient and other secondary and tertiary health care services--in cooperation with local doctors and hospitals. This competitive award will allow the clinic to continue operating through 2012.

Washington, DC - November 9, 2009 - (RealEstateRama) -- This week, the House voted on legislation to extend the $8,000 first-time homebuyer tax credit through April 30, 2010, which is currently set to expire December 1, 2009. The bill also expands eligibility of the credit, raising the income eligibility cap on individuals to $125,000 and $225,000 for married couples, up from $75,000 and $150,000 respectively, and homes sold for more than $800,000 are ineligible.

Washington, DC - November 6, 2009 - (RealEstateRama) -- U.S. Rep. Ed Perlmutter (CO-07) voted to stimulate the local economy and provide stability to American families hit hardest by the recession by extending the homebuyer’s tax credit, unemployment benefits, and tax relief for military families and businesses. The Emergency Unemployment Compensation Extension Act will provide immediate assistance, extending relief to millions of workers, families, and businesses nationwide.

WASHINGTON, DC - November 6, 2009 - (RealEstateRama) -- Rep. Pete Stark (D-CA) today praised House passage of Unemployment Insurance Benefits for an additional 20 weeks for workers in California. The Unemployment Compensation Extension Act, H.R. 3548, passed by a bipartisan 403 to 12 vote.

Washington, DC - November 6, 2009 - (RealEstateRama) -- Rep. Watson voted to stimulate the local economy and provide stability to American families hit hardest by the recession by extending unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses. The Emergency Unemployment Compensation Extension Act will provide immediate assistance, extending relief to millions of workers, families, and businesses nationwide.

WASHINGTON, Dc - November 6, 2009 - (RealEstateRama) -- Today, Congresswoman Laura Richardson acted to make the basic tenets of the American Dream possible for thousands of Californians by voting for the Unemployment Compensation Extension Act of 2009 (HR 3548), which will help the unemployed by extending unemployment benefits and will continue to stimulate the housing market by extending and expanding the first time homebuyer credit. The legislation passed the U.S. House of Representatives with a vote of 403 to 12 and now goes to President Barack Obama for his signature.

LOS ANGELES, DC - November 6, 2009 - (RealEstateRama) -- The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today commended Congress and the Senate for its swift actions in extending and expanding the provisions of the Federal Tax Credit for First-time Home Buyers. The U.S. House of Representatives earlier today voted 403 to 12 for passage, as did the U.S. Senate late yesterday. The legislation now goes to President Obama for signature.

Washington, DC - November 5, 2009 - (RealEstateRama) -- Congresswoman Lucille Roybal-Allard (CA-34) voted to stimulate the local economy and provide stability to families hit hardest by the recession by extending unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses.

LOS ANGELES, CA - November 2, 2009 - (RealEstateRama) --The U.S. Congress late yesterday passed a congressional resolution extending through 2010 the current conforming loan limits of $417,000 for most areas in the U.S. and $729,750 for high-cost areas, including many in California. President Obama is expected to sign the resolution today or tomorrow as part of a broader piece of budgetary legislation that will prevent a government shutdown.

Los Angeles, CA - October 29, 2009 - (RealEstateRama) -- Concerned about a "new wave" of foreclosures, Attorney General Edmund G. Brown Jr. today called on ten major banks and loan servicers to detail their plans to assist homeowners facing dramatic monthly payment increases on Pay Option Adjustable Rate Mortgages.

Palm Desert, CA - October 29, 2009 - (RealEstateRama) -- MERIT Property Management, a leading provider of professional community association and rental management services, is hosting a complimentary evening of ‘Tastings & Trends’ on Tuesday, November 17, 2009 for Coachella Valley homeowners, association board members, vendors and media. The evening will feature wine tasting and hors d’ oeuvres from 5:30 pm-7 pm followed by presentations covering trends in homeowners associations, delinquencies, foreclosures and active adult and community lifestyles. Speakers include MERIT CEO and Founder Melinda Masson, Vice President of Finance Andrew Schlegel and Vice President of Active Adult Communities Scott Hysler.

MERIT will provide additional services and maintenance programs to enhance the community. Sacramento, CA - October 28, 2009 - (RealEstateRama) -- The Stonelake Homeowners Association has selected MERIT, a leading provider of professional community association and rental management services, to manage their 1,467 single family unit community located in Elk Grove, CA. MERIT will assist the board of directors with daily operations as well as financial budget analysis and planning.

LOS ANGELES, CA - October 26, 2009 - (RealEstateRama) -- Home sales increased 2.1 percent in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today

San Francisco, CA - October 27, 2009 - (RealEstateRama) -- A California homeowner filed a class-action lawsuit against Pulte Homes Corporation (NYSE: PHM) claiming the company engaged in a sophisticated and integrated fraudulent scheme to artificially prop up sales and home sale prices through convoluted control of the home sale process.

SACRAMENTO, CA - October 26, 2009 - (RealEstateRama) -- New-home construction dipped again in September leading California homebuilders to strengthen the call for the Legislature to extend the successful homebuyer tax credit, the California Building Industry Association announced today

C.A.R. calls for swift adoption of Dodd-Lieberman-Isakson amendment to extend home buyer tax credit. LOS ANGELES, CA - October 26, 2009 - (RealEstateRama) -- The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today called for the U.S. Senate to swiftly adopt the Dodd-Lieberman-Isakson amendment, which would extend and amplify the hugely successful first-time home buyer tax credit until June 30, 2010.

October 26, 2009 - (RealEstateRama) -- Governor Arnold Schwarzenegger today issued the following statement after Green Cities California, the collaborative of 10 cities and counties acknowledged as sustainability leaders, launched a Web site today that will serve as a resource for other communities striving to go green

SAN FRANCISCO, CA - October 22, 2009 - (RealEstateRama) -- Mortgage counseling agencies will receive $2.6 million to hire more counselors over the next two years, and help the hundreds of thousands of California homeowners facing interest rate resets and the threat of foreclosure. The California Reinvestment Coalition (CRC), along with financial institutions and two foundations, today announced grant awards to 40 nonprofit mortgage counseling agencies through the California Home Ownership Preservation Initiative to help them better respond to the overflow of clients their offices are serving

Washington, DC - October 22, 2009 - (RealEstateRama) -- During the House Financial Services Committee mark-up of H.R. 3126, the Consumer Financial Protection Agency Act, the Committee approved an amendment offered by Rep. Gary Miller (R-CA) to sunset the Home Valuation Code of Conduct (HVCC).