Posted by Carry Brooks on June 27, 2011
Atlanta-based Post Properties said today it plans to begin construction later this year on a 392-unit apartment complex in West Raleigh at the intersection of Interstate 40 and Wade Avenue.
The $54.4 million project, Post Parkside at Wade, will be part of a larger mixed-use project called Wade.
Wade also includes Inside Wade, a 307-unit subdivision that Lennar broke ground on last week.
Post Parkside will also include 18,148 square feet of retail.
The original plans for Wade, unveiled in 2006, called for about 150,000 square feet of shops, 500,000 square feet of offices and at least 1,500 homes and a hotel.
The project is a partnership of Post Properties, Lichtin Corp.
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Posted by Bruce Tipson on June 27, 2011
The Department of Housing and Urban Development issued a final rule Wednesday defining the role of a mortgage originator for the purposes of state compliance with federal licensing laws.
A mortgage originator is someone who “acts as a residential mortgage loan originator with respect to financing that is provided in a commercial context and with some degree of habitualness or repetition,” according to the HUD rule.
HUD said this does not include employees of government agencies or employees at nonprofit organizations, who act as loan originators as part of their job description.
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Posted by Carry Brooks on June 26, 2011
Norman and Josie Dean relax in the living room of their new home in the new Maplebrook subdivision in Olive Branch, Miss.
Norman Dean is not impulsive.
A retired financial analyst, he prides himself on his thoughtful, calculated decision making. So when he and his wife, Josie, made a one-time visit to a new Olive Branch subdivision and drove out a couple of hours later with a signed contract, his daughter, Cynthia Dugger, was bewildered.
Norman and Josie Dean were the first buyers in the subdivisions developed by Grant & Co.
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Posted by Carry Brooks on June 26, 2011
The foreclosure market is performing better than the market for all other homes, according to the RPX Housing Market Report from Radar Logic Incorporated, a real estate data and analytics company based in New York.
So far this year, the motivated transaction count within the firm’s RPX Composite, which assesses sales of foreclosed homes by financial firms and at foreclosure auctions, increased just slightly less than its average gain for the period over the last four years.
All other sales, on the other hand, increased by less than half as much as they usually do during the period.
Radar Logic credits investors for these latest findings.
“Investment buyers are driving sales of foreclosed homes, but they have largely ignored the rest of the market,” said Quinn Eddins, director of research at Radar Logic.
“On average, foreclosed homes are priced at a 39% discount to other homes,” Eddins said. “Investors
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