Archives

SACRAMENTO, CA - October 26, 2010 - (RealEstateRama) -- Total housing production in California posted a decrease for the first time in five months in September, the California Building Industry Association announced today. According to statistics compiled by the Construction Industry Research Board (CIRB), permits were pulled for 2,562 total housing units in September, down 16 percent from the same month a year ago and down 31 percent from August. Permits for single-family homes totaled 1,604, down 30 percent from September 2009 and down 14 percent from the previous month, while multifamily permits totaled 958, up 27 percent from a year ago but down 48 percent from August.

WASHINGTON, DC - October 25, 2010 - (RealEstateRama) -- Rep. Ed Royce (R-CA), a senior member of the House Financial Services Committee, issued a statement following the release of a Federal Housing Finance Agency (FHFA) report stating that Fannie Mae and Freddie Mac’s taxpayer bailout will exceed $360 billion over the next three years.

WASHINGTON, DC - October 21, 2010 - (RealEstateRama) -- Today Congressman Mike Thompson announced that the Rural Community Assistance Corporation will receive $2 million as part of the CDFI’s Capital Magnet Fund Program through the Treasury Department. These funds will allow the Rural Community Assistance Corporation (RCAC) to support local single and multifamily affordable housing projects in rural areas.

LOS ANGELES, CA - October 12, 2010 - (RealEstateRama) -- CB Richard Ellis Group, Inc. (CBRE) announced that it has negotiated a $2.33 billion sale leaseback on behalf of the State of California’s Department of General Services for a portfolio that includes 11 state office buildings located in Los Angeles, Oakland Sacramento, San Francisco and Santa Rosa. The transaction is expected to close in the fourth quarter of 2010.

October 8, 2010 - (RealEstateRama) -- California's Building Standards Code will change in 2011, and all development project and permit applications that are submitted to the City of Long Beach on or after January 1, 2011 must comply with the updated code.

One hundred new apartment homes for low- income seniors coming to Wilmington Community. October 5, 2010 - (RealEstateRama) -- Mayor Antonio Villaraigosa today celebrated the groundbreaking of the Dana Strand Senior Apartments, a renovated 100 unit complex that will open in 2011

October 1, 2010 - (RealEstateRama) -- Mayor Antonio Villaraigosa today celebrated the groundbreaking of Glenoaks Gardens- a permanent supportive housing development in Sun Valley.

LOS ANGELES, CA - October 1, 2010 - (RealEstateRama) -- The U.S. Congress late yesterday passed a continuing resolution that included a provision extending through fiscal year 2011 the current conforming loan limit of $729,750 for high-cost areas, including many in California. The same limits will also be extended to loans insured by the Federal Housing Administration. President Obama is expected to sign the resolution today, which is a short-term funding bill that will prevent a government shutdown in the absence of a budget

Los Angeles, CA - October 1, 2010 - (RealEstateRama) -- Councilmember Alarcon will attend to help kick-off the event. Additional organizations supporting the fair include Los Angeles Neighborhood Housing Services (LA NHS), City of Los Angeles, FDIC, Keep Your Home Foundation, Bet Tzedek, Legal Aid Foundation-Los Angeles and Public Counsel. The CALIFORNIA ASSOCIATION OF REALTORS(r) is working in conjunction with the partnership as well

Downtown Los Angeles, CA - September 30, 2010 - (RealEstateRama) -- Congresswoman Lucille Roybal-Allard joins community leaders in welcoming U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan to the site of the New Genesis apartment project on Main Street.

Washington, DC - September 30, 2010 - (RealEstateRama) -- Today, Rep. Gary Miller introduced H.R. 6256, the Strengthening FHA Through Shared Equity Homeownership Act of 2010. This legislation would establish a shared equity homeownership pilot program through the Federal Housing Administration to lessen the risk of homeownership and decrease FHA’s vulnerability to fluctuations in the housing market.

Washington, DC - September 29, 2010 - (RealEstateRama) -- Last night, the House of Representatives voted to unanimously approve legislation introduced by Rep. Brad Miller (D-NC) and co-sponsored by Rep. Joe Baca (D-Rialto) designed to promote job growth in the home construction industry. H.R. 6191 modifies the Small Business Jobs and Credit Act of 2010 to allow healthy lending institutions to extend credit for residential construction and land development to U.S. homebuilders.

Los Angeles, CA - September 24, 2010 - (RealEstateRama) -- In partnership with Councilmember Richard Alarcon and the Los Angeles NeighborWorks® Center for Foreclosure Solutions (CFS) families who are in mortgage distress and facing foreclosure can get immediate help at the upcoming Help & Hope Fair.

WASHINGTON, DC - September 24, 2010 - (RealEstateRama) -- Today, Congresswoman Laura Richardson announced that Long Beach has been awarded $14.9 million in grants from the U.S. Department of Housing and Urban Development (HUD). These grants were awarded through three different HUD programs targeted at providing decent housing and living environments for low- and moderate-income persons.

SACRAMENTO, CA - September 22, 2010 - (RealEstateRama) -- Total housing production in California continued to rise for the fourth month in a row in August even as single-family production posted the lowest monthly total since February 2009, the California Building Industry Association announced today.

Irvine, CA (September 20, 2010) – Jamboree Housing Corporation today announced that H.O.M.E.S., Inc. (Helping Our Mentally Ill Experience Success) will become affiliated with Jamboree on an ongoing basis. According to Laura Archuleta, Jamboree’s president, the decision came after months of discussions between the two organizations’ boards of directors and takes effect October 1, 2010. Like Housing with HEART, Jamboree’s resident services group, H.O.M.E.S. will continue to operate as a separate 501(C)(3) organization under the Jamboree name and governance.

September 16, 2010 - (RealEstateRama) -- Governor Arnold Schwarzenegger today issued the following statement after the California Energy Commission approved the final four loans, totaling more than $13.4 million, for the state’s Clean Energy Business Financing Program (CEBFP) for California-based manufacturers of solar products. These four low interest loans awarded to Morgan Solar, Inc; Solar Power, Inc; Quantum Fuel Systems Technologies Worldwide, Inc. and the Solaria Corporation complete the state's CEBFP. Using American Recovery and Reinvestment Act (Recovery Act) funds, this program has provided a total of almost $29 million in federal stimulus money to eligible businesses and has retained or created about 1,588 clean energy manufacturing jobs in California

SACRAMENTO, CA - September 16, 2010 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced today that Wallace Chin, 72, of Sacramento, was sentenced today by United States District Judge John A. Mendez to 12 months and one day in prison, to be followed by six months of home detention, and one year of supervised release. Chin was also required to pay $104,997 in restitution to the Internal Revenue Service. He pleaded guilty on May 25, 2010 to one count of filing a false tax return.

September 13, 2010 - (RealEstateRama) -- With more than 20 years of experience in the industry, Gary has earned the deserved reputation as a ‘go-to’ attorney in the affordable housing industry,” said Stephen J. Wallace, leader of Nixon Peabody’s Affordable Housing practice. “His arrival significantly expands our affordable housing practice on the West Coast.”

Washington, DC - September 10, 2010 - (RealEstateRama) -- Today, Congressman Joe Baca (D-Rialto) announced that San Bernardino County and the cities of Fontana, Ontario, Rialto, and San Bernardino have collectively been awarded over $20 million in Neighborhood Stabilization Program (NSP) grant funding from the Department of Housing and Urban Development (HUD). The NSP is designed to assist states and local governments in addressing the effects of abandoned and foreclosed housing.