Archive for April 2008

By Katelyn McWatters, Editorial InternLos Angeles–Holliday Fenoglio Fowler L.P. recently arranged a $32.98 million financing for Harrison Tower Apartments in downtown Portland, Ore. The loan is a three-year, adjustable rate loan with a private west coast-based bridge lender. The 185-unit multifamily community is located at 222 Southwest Harrison in close proximity to Northwest 23rd District,…

Irvine, Calif.–Bank repossessions more than doubled and U.S. foreclosure filings increased by 57 percent in March compared to 2007, Irvine, Calif.-based RealtyTrac Inc. said Tuesday.Influenced by increasing adjustable-rate mortgages and an increasing number of owners walking away from their troubled mortgages, foreclosure filings grew 5 percent from February, according to Bloomberg. Nevada, California and Florida…

New York–As the subprime fallout causes more buildings to go into foreclosure, more renters–especially in New York–are at risk of losing their home, the New York Times reports.Renters facing foreclosure can experience a steady decline in services, such as loss of heat, or–even worse–face eviction. Lucky renters may get a small amount of money from…

London–Housing market confidence in England and Wales sunk to its lowest level in more than 30 years last month, the Royal Institution of Chartered Surveyors said Tuesday.New homebuyer inquiries dropped for the 16th month in a row and at the quickest pace since 2003, RICS said. More surveyors reported declining rather than rising prices, according…

Walnut Creek, Calif.–California’s Inland Empire, Las Vegas and Miami ranked as some of the highest-risk areas for further price declines in the quarterly risk index released Tuesday by Walnut Creek, Calif.-based PMI Mortgage Insurance, the country’s second-largest mortgage insurance company.Fourteen of the risky areas were in California, Florida, Nevada and Arizona, the San Jose Mercury…

By Anuradha Kher, Online News EditorLos Angeles–Oakwood Worldwide, a company that provides temporary housing, recently donated nearly 700 used uniforms in excellent condition to local and national charities in seven U.S. cities.Hundreds of skirts, pants, shirts, jackets and ties will benefit local return-to-work programs in Washington, D.C., San Francisco, Los Angeles, Sunnyvale, Calif., San Jose,…

By Erika Schnitzer, Associate EditorNew York–LifeAt, a New York-based online networking service for residential real estate developments, has named Matthew Goldstein CEO.Formerly COO of the company, Goldstein helped to establish the Web site, LifeAt.com. In his new position, Goldstein will now oversee the daily growth and management of the company and handle its media and…

By Anuradha Kher, Online News EditorEwing, N.J.–American Properties Realty has begun pre-construction booking on The Jefferson, a new condominium community in Ewing, N.J. The Jefferson, located eight miles from Princeton and 65 miles from New York City, is comprised of 10 distinct three-story buildings featuring two bedrooms, two bathrooms and up to 1,600 square feet…

By Anuradha Kher, Online News EditorAlbany, N.Y.–Governor David A. Paterson and legislative leaders announced a historic increase in funding for New York’s housing programs. The Enacted Budget Bill 6803D, includes more than $300 million in funds that will be used to address the shortage of affordable housing impacting the state of New York. “Affordable housing is…