Housing Affairs Letter

Real Estate

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Blighted Properties Tracking Tool For New Orleans

In partnership with nonprofit Code for America, the city of New Orleans launches an interactive online tool to help track the progress of renewal and rehabilitation efforts in blighted areas, particularly those devastated by Hurricane Katrina in 2005. The project serves as an extension of New Orleans Mayor Mitch Landrieu's (D) strategy to reduce blight by

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Condo Investors Profit With Resales

Condominium investors in the seven largest South Florida coastal markets are earning more than 20% profits on condos bought in bulk during the real estate collapse, a new study by CondoVultures.com.

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(FORECLOSURE INVENTORIES) Realtors Target Foreclosure Inventories

Committing more government resources to loan modifications, improving access to affordable mortgage financing, and promoting short sales will help reduce the federal inventories of foreclosed homes and keep a lid on pending

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(REIT EXEMPTION STUDIED) REIT Exemption Closure Eyed

An exemption enjoyed by real estate investment trusts under the Investment Company Act of 1940 could be restricted under a proposal by the Securities & Exchange Commission. The law applies to REITs that pool and sell

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(HOUSING FUND) Bay Area Gets $10M Housing Boost

A new $50 million evolving loan fund will provide developers with cash to purchase housing development land in select locations near rail and bus lines throughout the San Francisco Bay area. The Metropolitan

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(PROPERTY APPRAISAL) Property Appraisal Guidelines Issued

The Treasury Department's financial regulatory agencies unveil their final supervisory guidelines on sound practices for real estate appraisals and evaluations. The guidelines, first proposed in 2008,

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(REAL ESTATE BROKERS) RE Brokers Get HUD Marching Orders

Properly licensed real estate brokers can participate as listing or selling brokers under FHA's Management & Marketing III in rules set down by the agency. The FHA says all brokers can participate as

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(RESPA) Legal Overload Spurs Delay Plea

Eight financial service trade groups, led by the Mortgage Bankers Association and the American Bankers Association ask the Obama administration to delay implementation of new disclosures for

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(HOME SALES) NAR Stages Open House Weekend

In a concerted push to reduce the number of vacant homes across the United States, the Nat'l Assn. of Realtors has organized Nationwide Open House Weekend among its member Realtor

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(RESPA) Last Ditch RESPA Try Fails

Mortgage lending advocates go to the wire to delay implementation of the new Real Estate Settlement Procedures Act rule, but they are rebuffed in what may be the last opportunity to stall the change

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