Yearly Archives: 2016
C.A.R. releases its 2017 California Housing Market Forecast
Following a dip in home sales in 2016, California’s housing market will post a nominal increase in 2017, as supply shortages and affordability constraints hamper market activity, according to the "2017 California Housing Market Forecast," released today by the
California Reinvestment Coalition Proud of New Law to Protect Californians from “Widow Foreclosures”
The California Reinvestment Coalition is pleased to announce that earlier today, Governor Brown signed SB 1150 (Leno, Galgiani) to protect widows, widowers, and other heirs from unnecessary foreclosures. Senate Bill 1150, the Homeowner Survivor Bill of Rights (SBOR), was co-sponsored by the California Reinvestment Coalition, Housing and Economic Rights Advocates and the California Alliance for Retired Americans
Royce Pushes Level Playing Field for U.S. Insurers
U.S. Representative Ed Royce (R-Calif.), Chairman of the House Foreign Affairs Committee, questioned witnesses about the importance of a U.S.-E.U. covered agreement to protect American insurance firms and consumers during a Housing and Insurance Subcommittee hearing entitled “The Impact of the U.S.-E.U. Dialogues on U.S. Insurance Markets.”
House Passes Rep. Peters’ Amendment to Increase Infrastructure Resiliency
Last night, the House passed U.S. Congressman Scott Peters’ (CA-52) amendment to the Water Resources Development Act that gives the Army Corps of Engineers the resources to evaluate the structural health of its current infrastructure and construction projects. By using structural health monitoring, the Army Corps can increase the resiliency of potentially vulnerable infrastructure before a disaster strikes, and be able to more quickly evaluate damage after a disaster. Bahamas Real Estate
REP. LIEU & MAYOR GARCETTI STATEMENTS ON PRESIDENT OBAMA SIGNING L.A. HOMELESS VETERANS LEASING...
Congressman Ted W. Lieu (D-Los Angeles County) released the following statement regarding President Barack Obama signing into law H.R. 5936, the Los Angeles Homeless Veterans Leasing Act of 2016. The law--authored by Congressman Lieu and Congressman Jeff Miller--authorizes the VA Secretary to enter into leases at the West Los Angeles VA to provide for permanent supportive housing and services including legal representation, spiritual enrichment, vocational training, addiction treatment and recreational opportunities.
Owner of California Company that Falsely Advertised Mortgage Assistance Sentenced to Prison
Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that JOHN VESCERA, 60, of Dana Point, Calif., was sentenced today by Chief U.S. District Judge Janet C. Hall in New Haven to 12 months and one day of imprisonment, followed by three years of supervised release, for false advertising and misusing a government seal in connection with the provision of mortgage modification services
Rep. Calvert Supports Passage of the Water Resources Development Act
Congressman Ken Calvert (CA-42) voted along with a bipartisan majority of the House to pass H.R. 5303, the Water Resources Development Act (WRDA). The bill authorizes funding to address the needs of America’s harbors, locks, dams, flood protection, and other water resources infrastructure.
Reps. Royce and Blumenauer Introduce NFIP Reforms to Save Taxpayer Money
U.S. Representatives Ed Royce (R-Calif.) and Earl Blumenauer (D-Ore.) introduced H.R. 6196, theRepeatedly Flooded Communities Preparation Act. The bill aims to mitigate the financial resources expended by the National Flood Insurance Program (NFIP) and taxpayers on claims for properties flooded multiple times
Costa Applauds House and Senate Passage of Water Infrastructure Bills
Rep. Jim Costa (CA-16) released the following statement after the House passed the Water Resources Development Act (H.R. 5303) to complete water infrastructure projects in California and throughout the United States. On September 15, the Senate passed a similar version of the legislation, S. 2848.
REP. LIEU INTRODUCES LEGISLATION TO GIVE HOMELESS VETERANS ACCESS TO LEGAL SERVICES
Congressman Ted W. Lieu (D | Los Angeles County) introduced the Legal Services for Homeless Veterans Act of 2016. This legislation would authorize the Department of Veterans Affairs to enter into agreements with third parties to provide pro bono legal services to homeless and at-risk Veterans across the country. A recent study by the VA found that at least five out of the top 10 problems leading to homelessness among Veterans cannot be solved without legal help.
Lofgren and Honda Announce $15.3 Million in Federal Grants for Mineta Airport
U.S. Reps. Zoe Lofgren (D-San Jose) and Mike Honda (D-Silicon Valley) announced the Norman Y. Mineta San Jose International Airport will receive more than $15 million in federal funding for infrastructure improvements and perimeter security through two U.S. Department of Transportation grants.
CITY FINALIZES CONTRACT WITH SALVATION ARMY TO EXPAND HOMELESS SERVICES AT SHELTER
The City of Sacramento, in partnership with Sutter Health, announced funding to expand services at the Salvation Army's Center of Hope Emergency Shelter. Funding will support services for 24 hours a day, seven days a week
Royce Calls for Better Efficiency and Local Control in Public Housing Spending
U.S. Representative Ed Royce (R-Calif.) recently questioned witnesses on how to increase efficiency and local control in public housing spending during a Housing and Insurance Subcommittee hearing entitled “The Future of Housing In America: A Better Way to Increase Efficiencies For Housing Vouchers and Create Upward Economic Mobility."
House Passes Strong Legislation Co-Authored by Reps. John Garamendi and Duncan Hunter on GPS...
The House of Representatives unanimously approved legislation co-authored by Rep. John Garamendi (D-CA) and Rep. Duncan Hunter (R-CA), Ranking Member and Chairman respectively of the Subcommittee on Coast Guard and Maritime Transportation. The bill would require the creation of a GPS backup system and commission a study to document the advantages of acquiring a heavy icebreaker fleet for the Coast Guard. Garamendi has previously introduced standalone legislation, such as H.R. 1678, to encourage development of a GPS backup
Lee & Associates Completes Sale of Multi-Tenant Retail Shopping Center in Orange County for...
Lee & Associates, a national commercial real estate brokerage firm, announced today that the company represented the buyer and seller in the sale of Grovemont Square, a 29,030-square-foot multi-tenant retail shopping center at 2428 North Grand Avenue in Santa Ana, Calif. The sale price was $4,730,000, representing a cap rate of 4.26 percent
SILVAR Congratulates CAREA’s 2016/2017 Leadership Team
SILVAR joined the Silicon Valley real estate community in congratulating the 2016/2017 leadership team of the Chinese American Real Estate Association (CAREA) at the association's installation dinner held at the Mayflower Restaurant in Milpitas last Friday. SILVAR President Karen Trolan administered the oath of office to 2016/2017 CAREA president Jennifer Chen, the officers and board of directors.
CBRE’s Philip D. Voorhees and NRIG-West Team Complete Sale of Taco Bell and Shops...
CBRE Executive Vice President Philip D. Voorhees announced today that he, Jimmy Slusher and their National Retail Investment Group – West (NRIG-West) team completed the sale of the Taco Bell and Shops, a 18,175-square-foot, strip center in the city of San Diego, Calif., leased to a synergistic mix of food and service tenants, including Taco Bell, El Pollo Loco, Pick Up Stix, AT&T and T-Mobile. The sale price was $14 million, representing a 5.0% cap rate.
Fla.’s Housing Market: Sales, Median Prices Up in Aug. 2016
Florida’s housing market reported more closed sales, higher median prices, more new listings and fewer all-cash closed sales in August, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 25,070 last month, up 8.2 percent from August 2015.
Congressman Garamendi Praises Benicia Decision to Reject Crude Oil-by-Rail Facility, Renews Call for National...
Congressman John Garamendi (D-Fairfield, Davis, Yuba City, CA) today praised the Benicia City Council for their unanimous 5-0 vote rejecting a proposed crude-oil-by-rail facility that would have been operated by Valero. The facility, if constructed, could have opened the spigot to a large number of dangerous and underregulated crude oil-by-rail trains traveling through neighboring 3rd District cities like Davis, Dixon, and Suisun
Pelosi Statement on San Francisco Anti-Displacement Strategy
Democratic Leader Nancy Pelosi released the following statement after the City and County of San Francisco and the U.S. Department of Housing and Urban Development (HUD) agreed to an anti-displacement strategy. In a letter to Secretary Castro, Leader Pelosi had urged HUD to support one of San Francisco’s key efforts to address housing affordability and tenant displacement.
