By Keat Foong, Executive EditorWashington, D.C.—The Mortgage Bankers Association (MBA) forecasts a number of weakening statistics through this year. In a media teleconference recently, Doug Duncan, MBA chief economist and senior vice president, [pictured, right] said median home prices are expected to decline by 12 to 15 percent in real terms between mid-2007 and mid-2009. [...]

By Anuradha Kher, Online News EditorWashington, D.C.–The American Society of Interior Designers (ASID) Foundation and the U.S. Green Building Council (USGBC) will release the nation’s first sustainable residential remodeling guidelines at the annual ASID conference, Interiors 08, in March 2008.The guidelines, called the Regreen program, are designed in way in which residential designers, construction professionals [...]

Bergen County, N.J.–Gebroe-Hammer Associates, a N.J-based real estate investment company, negotiated the sale of eight multifamily properties totaling 299 rental units in the Bergen County area for a total of $44 million. The properties include Ann Foschini Estate, Riverside Terrace, the Grand Imperial, the Imperial, 222 Elleen Terrace, 403 Prospect Avenue, 7 Amsterdam Avenue and [...]

Washington, D.C.–Two Houston lawmakers criticized officials–from both the government and Texas–this week for the slow housing replacement rate for Hurricane Rita and Katrina victims, the Houston Chronicle said.At the investigative hearing, held by the House Homeland Security Committee in Washington, D.C., Rep. Sheila Jackson Lee, D-Houston, called the efforts “a complete failure” and Rep. Al [...]

New York–Developer Larry Silverstein announced plans this week to build New York’s tallest residential building, which will sit two blocks from the former World Trade Center site and contain a Four Seasons hotel, the New York Sun reports.Architect Robert A.M. Stern will design the 80-story limestone building, which will be located at 99 Church St. [...]

Washington, D.C.–Consumer spending rose in December–but not as much as in the previous month, the Commerce Department said Thursday.Personal consumption grew by 0.2 percent from November to December, the slowest pace since June. November spending increased by a revised 1.0 percent; November spending originally was perceived to be 1.1 percent higher, the Wall Street Journalreports.After [...]

New York–As U.S. regional banks, credit unions and global financial institutions write down the value of their holdings, deficits from subprime mortgage-related securities could total more than $265 billion, according to Standard & Poor’s.The New York-based ratings agency put $534 billion of bonds and collateralized debt obligations connected with subprime home loans on review Wednesday, [...]

By Anuradha Kher, Online News EditorNew York–Greenbelt, Brooklyn’s first LEED (Leadership in Energy and Environmental Design) certified condominium project is opening at 361 Manhattan Ave., with sales for the project expected to begin in February 2008.The eight-unit building includes one- and two-bedroom condominiums ranging in price from $599,000 to 815,000.Greenbelt was designed to save more [...]

Denver–GID Investment Advisers LLC has acquired The District at Southmoor Station, a mixed-use property containing 276 luxury apartment units and 16,617-sq.-ft. retail space. The property is located at the intersection of Interstate-25 and Hampden Avenue, near the Southmoor Station stop on the Regional Transit District light rail.The building includes studios, lofts, and one-and two-bedroom apartments [...]

By Anuradha Kher, Online News EditorJersey City, N.J.—“A” Condominiums, a 33-story complex, developed by the Athena Group and located on Washington Boulevard and First St. in Jersey City, opened this week. The 250-unit complex, which has 10,500 sq.-ft. of retail space, has sold more than 80 percent of the units.The building has one-and two-bedroom apartments [...]