Archive for May 2008
Atlanta Condos, Chase Home Loans Offer Mortgages under New FHA Program
By Anuradha Kher, Online News EditorAtlanta–Duo, a loft-style luxury condominium in Atlanta’s Castleberry Hill neighborhood, has partnered with Chase Home Loans to offer adjustable- and fixed-rate mortgages to new buyers under a new Federal Housing Administration (FHA) program.“The federal government helped create the current mortgage situation,” says Scott L. Leventhal, president and CEO of Tivoli…
Read MoreJupiter Breaks Ground on Windy City’s First New LEED-Certified Rental Building
By Anuradha Kher, Online News EditorChicago–Jupiter Realty Co. has broken ground on its 50-story, 389-unit rental building at 215 W. Washington St. in downtown Chicago. When complete in 2010, the $157 million building is expected to be the first new apartment high rise in Chicago to achieve Leadership in Energy and Environmental Design (LEED) certification from…
Read MoreDemarest, N.J. Community Offers Virtual Tours in English and Korean
By Erika Schnitzer, Associate EditorDemarest, N.J.–With at least 30 percent of its buyers of Korean descent, Bellaire, a luxury townhome community, is offering a virtual tour in both English and Korean on its new Web site, bellairenj.com. In addition, American Properties Realty, the Iselin, N.J.-based developer of Bellaire, has created direct mailers in Korean.“When we…
Read MoreFrank Lloyd Wright-Inspired Condo Project in India to Get Highest Green Rating
By Anuradha Kher, Online News EditorPune, INDIA–In a country where green building is still in the early stages of development, Gustad Irani and his partner, Yumi Doi, both senior fellows at the at the Frank Lloyd Wright Foundation, Taliesin West in Scottsdale, Ariz. and owners of the company, Organic Design Workshop, have just finished creating…
Read MoreThe Time To Conserve Energy Is Now
By Laura Khouri, senior vice president, Western National Property ManagementToday’s apartment owners and property managers are placing a greater emphasis on energy conservation — not only to cut costs, but also to lessen the environmental impact of their properties. Since there may also be legislation requiring more environmentally sensitive equipment, water-saving devices and additional conservation…
Read MoreWill Deals on Homes Help Fix the Housing Market?
Homes are more affordable than ever, and buyers have more reasonable financing options for high-priced properties, according to recent reports. But what does that mean for the overall market? Falling prices are making homes more affordable than ever in some cities, according to he latest Housing Opportunity Index released Tuesday by Wells Fargo and the…
Read MoreLED-powered Curtainwall is Unveiled in China
By Erika Schnitzer, Associate EditorBeijing, China–The GreenPix Zero Energy Media Wall, designed by New York-based Simone Giostra & Partners Architects and located on the Xicui Entertainment Complex in Beijing, features the world’s largest color LED display. The wall, illuminated by solar energy captured by the building during the day, is the first photovoltaic system integrated…
Read MoreAgreement Reached on Housing Bill
Washington, D.C.–Senate Banking Committee leaders announced Monday that they had reached a compromise on a heavily debated housing bill to prevent foreclosures and restructure how Fannie Mae and Freddie Mac are monitored, CNNMoney.com said. Under the plan, the Federal Housing Administration will be allowed to insure $300 billion in new loans for borrowers whose lenders…
Read MoreWholesale Prices in the U.S. See Moderate Rise in April
Washington, D.C.–U.S. wholesale prices rose only slightly last month due to reduced food and energy costs–but the core rate of inflation increased at twice the rate analysts expected, The Wall Street Journal reports.Following a 1.1 percent increase in March, the producer price index for finished goods grew 0.2 percent on a seasonally adjusted basis, the…
Read MoreOppenheimer Forecasts Credit Crunch to Last Past 2009
New York–The U.S. credit crisis will last beyond 2009, and banks will write off more than $170 billion in additional reserves, New York-based investment firm Oppenheimer & Co. said in a research note released Tuesday.”The real harrowing days of the credit crisis are still in front of us and will prove more widespread in effect…
Read More