Archive for June 2008
Builder Confidence Sinks in June
Washington, D.C.–U.S. homebuilder confidence dropped in June, indicating that the housing decline may get worse, according to Bloomberg.The National Association of Home Builders/Wells Fargo sentiment index dropped from 19 in May to 18 this month. A reading below 50 indicates the majority of respondents feel conditions are less than favorable.The index first hit 18 in…
Read MoreFed May Not Alter Interest Rates at Meeting
Washington, D.C.–Despite rising concern about inflation, the Federal Reserve may not change interest rates at its meeting next week, The Wall Street Journal said Tuesday.In fact, the Fed may leave rates unchanged until fall. Yet some–such as futures markets, which are guessing the Fed will raise its interest rate target in August due to inflation–are…
Read MoreDEAL OF THE DAY: Sperry Van Ness Brokers Rental Community Sale for $2.47M
By Anuradha Kher, Online News EditorSan Diego–Sperry Van Ness has recently completed the sale of Balboa Palms Apartments, a 28-unit apartment community in San Diego, for $2.47 million.The property is located at 2855 – 2865 A St. near downtown San Diego. San Diego-based Cyprias Enterprises LLC Series 19 bought the two-building property that was built…
Read MorePennsylvania Housing Agency Launches Program to Control Energy Costs for Affordable Housing
By Anuradha Kher, Online News EditorGreensburg/Harrisburg, Pa.–The West Penn Power Sustainable Energy Fund (WPPSEF) and the Pennsylvania Housing Finance Agency (PHFA) are collaborating to preserve affordable apartment units in 23 western and central Pennsylvania counties.The two organizations will work together to lower the expense of heating and cooling multifamily dwellings to make sure high energy…
Read MoreAlliance Unveils Plans for $36M Rental Community in Camelback Corridor
By Anuradha Kher, Online News EditorPhoenix–Alliance Residential Co. (ARC) has unveiled plans to build a 240-unit luxury rental community in the heart of the Camelback Corridor in Phoenix. The $36 million project, spread across 4.14 acres at the intersection of 16th St. and Campbell, is scheduled to open in the fall of 2009. “We are…
Read MoreSPECIAL REPORT: Acting Commissioner of NYC Department of Buildings Discusses Safety, Sustainability at BuildingsNY 2008
By Erika Schnitzer, Associate EditorNew York–The Acting Commissioner of the New York City Department of Buildings, Robert LiMandri (pictured), was the keynote speaker at BuildingsNY 2008, held at the Jacob K. Javits Convention Center from June 17-18. With GreenBuildingsNY joining the BuildingsNY convention for the first time, LiMandri acknowledged the importance of building green to accommodate…
Read MoreHUD to Provide Foreclosure Relief, Loan Guarantee Assistance for Storm-Ravaged Midwest Counties
By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Housing and Urban Development (HUD) said it will speed federal disaster assistance to dozens of storm-ravaged counties in Iowa, Indiana and Wisconsin and provide support to homeowners and low-income renters forced out of their homes after severe storms, tornadoes and flooding have left this region devastated.HUD will…
Read MoreMaking Pest Management a Priority
Warmer weather makes outdoor activities possible but it also tends to increase pest pressure, too. Providing for pest management service is a fact of life for most property managers. In multi-unit housing settings, a variety of micro-environments, such as kitchens, bathrooms and garbage collection areas, elevate the potential for pest infestations. While the occasional pest…
Read MoreCommunity Outreach
Atlanta–Gables Residential recently held its ninth annual Gables Day community service events, which took place over two weeks throughout the company’s 14 operating regions. The importance of community service inspires National Gables Day during which each corporate and onsite office is closed for the day and all associates, from company executives to onsite associates, work…
Read MoreKeeping an Eye on Builder Confidence
How is the housing market doing? If you’re hoping to hear that things are improving, don’t ask builders. At least, that’s the picture painted by the National Association of Home Builders/Wells Fargo builder confidence index, released this week, which didn’t offer much more industry hope. And with good reason. Last year, the index averaged around…
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