Yearly Archives: 2012

Torrance, CA - October 10, 2012 - (RealEstateRama) -- Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the $6.7 million sale of a 15,000-square-foot retail property located at 16 3rd Avenue Extension, Chula Vista, Calif.

October 10, 2012 - (RealEstateRama) -- United States Attorney Laura E. Duffy announced today that Orange County attorney Stephen Kenneth Chrysler was sentenced to serve 37 months in prison for his role in an $8 million mortgage fraud scheme involving 16 homes in Oceanside, Escondido, San Marcos, Lakeside, and Menifee. His mother, Aida Agusti Castro, a Carlsbad real estate broker who was also sentenced for her role in the scheme, received a 33-month prison sentence. United States District Judge Jeffrey T. Miller also sentenced each defendant to forfeit over $350,000 in illicit proceeds.

LOS ANGELES, CA - October 10, 2012 - (RealEstateRama) -- Today, Attorney General Eric Holder, Housing and Urban Development (HUD) Secretary Shaun Donovan, FBI Associate Deputy Director Kevin L. Perkins, and Federal Trade Commission (FTC) Chairman Jon Leibowitz announced the results of the Distressed Homeowner Initiative, the first-ever nationwide effort to target fraud schemes that prey upon suffering homeowners. The yearlong initiative, organized by the Financial Fraud Enforcement Task Force’s Mortgage Fraud Working Group, resulted in 530 criminal defendants charged in 285 federal cases filed in U.S. District Courts across the country. These cases involved more than 73,000 homeowner victims and total losses by those victims are estimated by law enforcement at more than $1 billion.

Torrance, CA - October 3, 2012 - (RealEstateRama) -- Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the sale of a 45,000-square-foot industrial property located at 3923 Oceanic Drive in Oceanside, Calif

LOS ANGELES, CA - October 3, 2012 - (RealEstateRama) -- A 50-year-old resident of Tujunga was sentenced this morning to 37 months in federal prison for his participation in a home equity line of credit (HELOC) scheme that resulted in losses of more than $1 million.

Torrance, CA - October 3, 2012 - (RealEstateRama) -- Prologis, a leading global owner, operator and developer of industrial real estate, has acquired an industrial property in Compton, Calif. Peter D. Bacci and Jack Cline of Lee & Associates, one of the leading broker-owned commercial real estate firms in the nation, represented the buyer and seller of the 132,926-square-foot property, located at 175 East Manville Street.

LOS ANGELES, CA - October 3, 2012 - (RealEstateRama) -- California’s housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 California Housing Market Forecast,” released today.

Torrance, CA - October 3, 2012 - (RealEstateRama) -- Lee & Associates, one of the largest national commercial brokerage firms, has recently completed the sale of the industrial property located at 4388 Old Santa Fe Road in San Luis Obispo, Calif. The 21,382-square-foot building was valued at $3.7 million.

Torrance, CA - October 2, 2012 - (RealEstateRama) -- Auction.com, the nation’s leading online real estate marketplace, is lending its innovative online platform to Project Playhouse, a charity auction benefitting HomeAid Orange County’s efforts to build doorways for Orange County’s homeless.

Torrance, CA - October 2, 2012 - (RealEstateRama) -- The USC Price School of Public Policy has tapped Raphael Bostic as the new director of the Judith and John Bedrosian Center on Governance and the Public Enterprise

LOS ANGELES, CA - September 27, 2010 - (RealEstateRama) -- Attorney General Edmund G. Brown Jr. today directed Ally Financial, Inc., formerly known as GMAC, to prove immediately that it is complying with state law or, if it cannot, to cease and desist from foreclosing on California homes.

SACRAMENTO, CA - September 26, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced that the final parts of the California Homeowner Bill of Rights have been signed into law by Governor Jerry Brown.

Stockton, CA - September 25, 2012 - (RealEstateRama) -- Next Sat., Sept. 29, 2012, Congressman Jerry McNerney (D-Stockton) will attend a foreclosure assistance and first-time homebuyers workshop in Stockton. The Congressman will speak at the event at 10 am. HUD-certified counselors will be on hand to provide assistance, and first-time homebuyers can find out how to take advantage of the lowest interest rates in 20 years.

SANTA ANA, CA - September 24, 2012 - (RealEstateRama) -- The owner of a Pasadena mortgage brokerage firm was sentenced today to 108 months in federal prison for participating in a mortgage fraud scheme that obtained more than $30 million in loans.

SACRAMENTO, CA - September 24, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris announced the arrest Thursday of four suspects who have been charged with securities fraud, conspiracy and elder abuse for operating a Ponzi scheme that bilked dozens of investors of over $2.3 million

LOS ANGELES, CA - September 21, 2012 - (RealEstateRama) -- Real Estate Business Services® (REBS®), a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), today announced that Sandicor, Inc. is allowing access to the time-saving zipFormMLS-Connect® feature for its members. This will offer agents easy accessibility to MLS information while inside of their forms and get parties to the signing table quickly. Three local associations: East San Diego County & Pacific Southwest Association of REALTORS®, North San Diego County Association of REALTORS®, and the San Diego Association of REALTORS® own the regional MLS in San Diego County

Torrance, CA - September 21, 2012 - (RealEstateRama) -- Construction has begun Azalea shopping center, a new 350,000-square-foot retail project on the northwest corner Atlantic Avenue and Firestone Boulevard in Southgate, Calif. Designed by Nadel Architects, cost of the project was not disclosed.

Torrance, CA - September 19, 2012 - (RealEstateRama) -- Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has negotiated the 85,773-square-foot long-term industrial lease at 11240 Warland Drive in Cypress, Calif. The terms of the transaction were not disclosed.

LOS ANGELES, CA - September 18, 2012 - (RealEstateRama) -- California home sales declined in August but continued to maintain a strong pace, recording five consecutive months of year-over-year sales gains, while the median price reached a four-year high, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.

Torrance, CA - September 18, 2012 - (RealEstateRama) -- HGA Architects and Engineers (HGA) has relocated to expanded offices in San Francisco to accommodate its growing practice serving healthcare, higher education and cultural clients. HGA’s San Francisco office has grown by nearly 25 percent in the past two years, adding shared expertise to the 120-person California practice, which includes the Sacramento and Los Angeles offices