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Celebrity Real Estate: Seacrest and Ellen deal, Aniston rents

May 19

Posted by News Feed in General Real Estate

The big real estate news in celebrity circles? Ellen DeGeneres finally sold her home, selling it to fellow star Ryan Seacrest, and Jennifer Aniston and Justin Theroux are renting in Beverly Hills while their modern home is renovated.

Ryan Seacrest buys Ellen DeGeneres’ custom estate

Westside Estate Agency

Ellen DeGeneres and Portia De Rossi’s home is a midcentury modern.

Even in Hollywood circles, $49 million is a hefty chunk of change to put down on a home. But for uber-producer, television host and radio personality Ryan Seacrest, Ellen DeGeneres’ and Portia de Rossi’s custom and very private estate, pictured above, was worth it.

Shortly after Seacrest listed his longtime Hollywood Hills home on the market, he made an offer on DeGeneres’ and de Rossi’s enormous Beverly Hills abode, TMZ reports.

DeGeneres and de Rossi listed it as a pocket listing through the Westside Estate Agency in October 2011 and bought their own new place, Brad Pitt’s former Malibu bachelor pad, for $12 million in December 2011. And although DeGeneres earns a whopping $45 million a year, even she may have been feeling the pressure of having a home linger on the market.

What accounts for the hefty price tag? Beverly Hills real estate comes at a huge premium. According to property records, DeGeneres bought the home for $27,000,270 in September 2007. Shortly after, she bought the neighboring parcel to add to the estate, creating a property that takes up nearly a full city block. Add in the gated drive leading to the midcentury modern house, high-end security, a pool, tennis court and guest houses: It’s easy to see how the value of the property escalates.

Seacrest is paying a ton, and he can afford it, but at least he’s also getting a slew of custom interior features like multiple private home offices, a mediation room, personal gym, lap pool, enormous shoe closets — all serving to boost the home’s appeal.

Despite the custom design, DeGeneres is known for hopping houses. When Architectural Digest featured the home, she revealed that her family always rented growing up, and since then she’s had an affinity for buying homes, designing them and then moving on to the next one.

Whether Seacrest will follow suit remains to be seen. With a new gig at NBC and continued earning power as Hollywood’s A-list host and “American Idol” front man, he’s earned the right to plunk down his millions on one of Los Angeles’ priciest celebrity homes.

Westside Estate Agency

Most of the home has been renovated and restored by DeGeneres.

Westside Estate Agency

The formal, paneled living room looks over the pool area.

Jennifer Aniston renting Beverly Hills home

Zillow

The modern rental includes patio space connecting to a pool and spa.

The queen of real estate, otherwise known as Jennifer Aniston, is at it again!

Or, rather, the queen of real estate turnover is at it again.

In the past year alone, Aniston sold her beloved “Ohana” estate, bought and then sold two New York City penthouse apartments, and plunked down $20.97 million for a new love nest in Bel-Air.

More recently, the celebrity real estate rumor mill has been buzzing with news that the Aniston and current boyfriend Justin Theroux are on the move yet again while they remodel their Bel-Air mansion. The “Wanderlust” co-stars have reportedly scooped up a rental property in the highly sought-after 90210 neighborhood.

The $40,000-per-month rental first hit the market last summer as a for-sale listing at $14.9 million. But after a series of price reductions, Aniston snatched it up for temporary quarters. The gated contemporary features five bedrooms, 6.5 bathrooms and 6,500-square feet of living space.

A Zen-like vibe is quite apparent upon entering the property. The entryway is suspended above water features and leads to a hand-carved front door. According to the listing, views of the ocean can be seen from nearly every room and there’s the kind of open space that makes for perfect entertaining. Amenities also include a zero-edge pool and spa, an outdoor cooking area, outdoor shower, state-of-the-art home theater and temperature-controlled stone wine room.

Zillow

The kitchen features stainless steel high-end appliances.

Zillow

The bathroom has sliding glass doors opening out to the lawn.

See more photos of Aniston’s rental on the Zillow blog.

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Real estate spotlight, May 18, 2012

May 19

Posted by News Feed in General Real Estate

AUBREY COHE, Seattle Post-Intelligencer

Copyright 2012 Seattle Post-Intelligencer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

By AUBREY COHEN, SEATTLEPI.COM STAFF

Published 09:41 p.m., Friday, May 18, 2012

of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

of
Historic photo of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: King County
/ SL

Historic photo of
Entry of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Entry of
Living room of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Living room of
Dining room of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Dining room of
Kitchen of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Kitchen of
Kitchen of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Kitchen of
Kitchen of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Kitchen of
Family room of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Family room of
Family room of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Family room of
Master bedroom of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Master bedroom of
Master bedroom of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Master bedroom of
Master bathroom of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Master bathroom of
Bedroom of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Bedroom of
Bedroom of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Bedroom of
Bedroom of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Bedroom of
Bedroom of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Bedroom of
Bathroom of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Bathroom of
Lower-level family room of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Lower-level family room of
Entry courtyard of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Entry courtyard of
Entry courtyard of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Entry courtyard of
Back of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard, a large back deck and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Back of
Back porch and garden of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Back porch and garden of
Back porch of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Back porch of
Back porch of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard and a two-car garage on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Back porch of
Two-car garage of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard and a large back deck on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Two-car garage of
Two-car garage of 1212 McGilvra Boulevard E. The 4,253-square-foot house, built in 1938, has five bedrooms, 3.75 bathrooms, fireplaces in the living, family and downstairs rec rooms, a front courtyard and a large back deck on a manicured quarter-acre lot. It’s listed for $2.1 million.

Photo: Kate Morgan And Jonathan Himschoot/Windermere Real Estate
/ SL

Two-car garage of

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Article source: http://www.seattlepi.com/realestate/article/Real-estate-spotlight-May-18-2012-3569198.php

Tags: real estate

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Foreclosure Filings Plummet to Lowest Since June 2011

May 18

Posted by News Feed in General Real Estate

(Source: Andrew Gomes The Honolulu Star-Advertiser (MCT) — The number of foreclosure filings in Hawaii sank in April to its lowest for any month since a controversial overhaul of a state law governing residential foreclosures took effect last May, according to a report released Wednesday by real estate research firm RealtyTrac.

There were 314 filings last month. That was the fewest since 344 in June, which was the first full month under the new law that severely constrained the number of cases being filed. The filings decreased because lenders were fearful of what they viewed as unjust penalties for even the most insignificant violation of the law.

April’s count was down 68 percent from the 1,081 filings in April 2011. Since May, monthly filings have mostly ranged between 400 and 600.

It’s hard to say what may be the reason for last month’s drop or whether it may be a one-time occurrence or the beginning of a trend.

Some local attorneys predict that a new round of changes to Hawaii’s foreclosure law approved by the Legislature earlier this month will trigger another major slowing or a complete shutoff of foreclosures if the measure, House Bill 1875, becomes law. Gov. Neil Abercrombie is expected to approve the bill.

Last month, the drop was both in new cases and the number of repossessions by lenders. New cases, which have been filed exclusively in court since last May, totaled 213, which was the second-lowest number after 163 in June. There were 88 repossessions, which was the lowest since last May.

In the two years before the law’s change, lenders were typically filing 900 to 1,600 foreclosure filings a month.

The drop-off in April gave Hawaii the 36th lowest rate of foreclosures among states, at one filing for every 1,654 households.

The lowest rate was in North Dakota, which RealtyTrac said had eight foreclosure filings, or one per 39,687 households. The highest rate was in Nevada, which the firm said had 3,909 filings, or one per 300 households.

The national rate was one filing per 698 households based on 188,780 filings that represented a 14 percent decrease from April 2011.

___

Visit The Honolulu Star-Advertiser at www.staradvertiser.com

Distributed by MCT Information Services

Source: Andrew Gomes The Honolulu Star-Advertiser (MCT)

Article source: http://www.loansafe.org/foreclosure-filings-plummet-to-lowest-since-june-2011

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Lawmakers push foreclosure relief for military

May 18

Posted by News Feed in General Real Estate

WASHINGTON |
Fri May 18, 2012 11:51am EDT

WASHINGTON (Reuters) – The House of Representatives on Friday voted to further insulate some service members from home foreclosures and extend borrower protections to disabled veterans and surviving military spouses.

The measure passed 394-27 on a bipartisan vote and was attached to a $554 billion defense spending bill that is set for a final vote Friday in the Republican-controlled House. The White House has said the defense bill would face a presidential veto if it hinders the Pentagon’s defense strategy.

The foreclosure relief amendment would extend some provisions included in a longstanding federal law, the Servicemembers’ Civil Relief Act. The law protects active-duty service members from foreclosure and gives military personnel and their families some financial and legal protections.

The measure, written by Democrats, would extend some protections that are about to end, give more time for foreclosure proceedings, and raise civil penalties for Relief Act violations by the mortgage industry. It would also expand the law to cover surviving military spouses, veterans who are disabled at the time of discharge and personnel serving in a contingency operation, such as a national emergency.

“Our troops fighting overseas in Iraq or Afghanistan should not have to fight here at home just to keep a roof over the heads of their loved ones,” said Representative Elijah Cummings, the top Democrat on the House Oversight and Government Reform Committee.

Since the 2006 collapse of the real estate market, tens of thousands of military have lost homes to foreclosure and lenders have come under scrutiny for Relief Act violations.

“This bill takes a much-needed step toward protecting deployed servicemembers and their families, discharged veterans with a 100 percent service-connected disability, and surviving spouses,” said Representative Adam Smith, the top Democrat on the House Armed Services Committee.

The amendment would stay a foreclosure against military borrowers for 12 months instead of the current three months.

The House would also require lending institutions to set up a toll-free phone number for service members to discuss their mortgage terms and legal rights under Relief Act.

Democratic Senator Jack Reed has introduced a separate bill similar to the House amendment.

(Reporting by Margaret Chadbourn; Editing by Jackie Frank)

Article source: http://www.reuters.com/article/2012/05/18/us-usa-housing-military-idUSBRE84H0PO20120518

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Biz Buzz: Retail vacancy rates hit low in region

May 18

Posted by News Feed in Local Real Estate

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Retail vacancy rates in the Sacramento region reached their lowest point in more than two years during the first quarter of 2012, according to a first quarter market report by Roseville’s Voit Real Estate Services.

The retail market posted 167,724 square feet of positive net absorption in the first quarter this year, and availability dropped to 11.13 percent, a decrease of more than four percent year over year, according to the report.

…

“These numbers are moving in the right direction, and there is room for optimism as 2012 progresses,” said Kevin Sheehan, managing director of Voit’s Roseville office. “While these are all positive indicators, stability and job growth will need to be sustained in order for the market to continue its recovery.”

First Bank’s Janette Moynier recently received a 2012 Distinguished Alumni Award from Heald Business College. Moynier, a vice president and area manager for First Bank, received the award in recognition for 24 years of service to the banking community in Placer County and for dedication to the community through service to the Placer Care Coalition, the Roseville Chamber of Commerce and the Downtown Merchants Association. The award also recognized Moynier for her guidance and inspiration to fellow workers and the ability to balance family, career and community.

…

Coleman, Chavez Allen, LLP is a law firm with a new location at 3200 Douglas Blvd. suite 110, occupying approximately 4,000 square feet of office space. The firm is primarily focused on the defense of workers compensation claims and related litigation. Chad Coleman, Richard Chavez and Christine Allen are established the firm on Feb. 11, 2008.

Got Biz Buzz? Pass it on to tobyl@goldcountrymedia.com.

Article source: http://rosevillept.com/detail/208216.html?content_source=&category_id=9&search_filter=&user_id=&event_mode=&event_ts_from=&event_ts_to=&list_type=&order_by=&order_sort=&content_class=1&sub_type=&town_id=

Tags: Foreclosure, real estate, Realtor, Sacramento, Short Sale

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Median home sale price up a bit in Sacramento County

May 18

Posted by News Feed in Local Real Estate

The median sales price for single-family resale homes in Sacramento County ticked upward in April for the fourth straight month, according to DataQuick.

But the median price of $162,000 was down 1.8 percent from the same period a year ago, the San Diego-based real estate information service said Thursday in its monthly report.

The figures point to a housing market that is relatively flat and no longer experiencing steep declines in values, said DataQuick analyst Andrew LePage. “Price stability is widening,” he said.

Figures for El Dorado, Placer and Yolo counties also showed median prices increasing from March to April.

Experts say tight inventory and record low interest rates are creating upward pressure on prices during the traditional spring buying season.

One hopeful figure, LePage said, is a decline in the percentage of foreclosed homes on the market.

In Sacramento County, foreclosure resales slipped to 42 percent of the market in April, down from 51 percent a year before. Last month’s figure was the lowest since November 2007. A high rate of foreclosures has been blamed for keeping prices depressed.

Short sales, in which lenders accept less than what is owed, increased in April to 21 percent of the housing market from 17 percent one year earlier, LePage said.

About 36 percent of homes purchased in April were bought by absentee owners, generally investors. That tied a record set in January, LePage said. Nearly 37 percent of houses sold in April were bought with cash, he said.

Call The Bee’s Hudson Sangree, (916) 321-1191.

Inland Real Estate Corporation Pays May and Declares June Cash Distribution to …

May 18

Posted by News Feed in General Real Estate

OAK BROOK, Ill., May 17, 2012 (BUSINESS WIRE) –
Inland Real Estate Corporation

/quotes/zigman/360677/quotes/nls/irc IRC
-1.56%

today announced that it paid
a cash distribution of $0.0475 per share on the outstanding shares of
its common stock to common stockholders of record at the close of
business on April 30, 2012.

In addition, the Company has declared a cash distribution of $0.0475 per
share on the outstanding shares of its common stock, payable on June 18,
2012 to common stockholders of record at the close of business on May
31, 2012.

About Inland Real Estate Corporation

Inland Real Estate Corporation is a self-administered and self-managed
publicly traded real estate investment trust that owns and operates
open-air neighborhood, community, power and lifestyle retail centers and
single-tenant properties located primarily in the Midwestern United
States. As of March 31, 2012, the Company owned interests in 150
investment properties, including 35 owned through its unconsolidated
joint ventures, with aggregate leasable space of approximately 15
million square feet. Additional information on Inland Real Estate
Corporation is available at
http://www.inlandrealestate.com .

Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that do not reflect historical facts and
instead reflect our management’s intentions, beliefs, expectations,
plans or predictions of the future. Forward-looking statements
can often be identified by words such as “believe,” “expect,”
“anticipate,” “intend,” “estimate,” “may,” “will,” “should” and “could.”
Examples of forward-looking statements include, but are not limited to,
statements that describe or contain information related to matters such
as management’s intent, belief or expectation with respect to our
financial performance, investment strategy or our portfolio, our ability
to address debt maturities, our cash flows, our growth prospects, the
value of our assets, our joint venture commitments and the amount and
timing of anticipated future cash distributions. Forward-looking
statements reflect the intent, belief or expectations of our management
based on their knowledge and understanding of our business and industry
and their assumptions, beliefs and expectations with respect to the
market for commercial real estate, the U.S. economy and other future
conditions. Forward-looking statements are not guarantees of future
performance, and investors should not place undue reliance on them.
Actual results may differ materially from those expressed or forecasted
in forward-looking statements due to a variety of risks, uncertainties
and other factors, including but not limited to the risks listed and
described under Item 1A”Risk Factors” in our Annual Report on Form 10-K
for the year ended December 31, 2011, as filed with the Securities and
Exchange Commission (the “SEC”) on February 28, 2011 as they may be
revised or supplemented by us in subsequent Reports on Form 10-Q and
other filings with the SEC. Except as otherwise required by applicable
law, the Company disclaims any obligation or undertaking to publicly
release any updates or revisions to any forward-looking statement in
this release to reflect any change in the Company’s expectations or any
change in events, conditions or circumstances on which any such
statement is based.

SOURCE: Inland Real Estate Corporation


        Inland Real Estate Corporation (Investors/Analysts):
        Dawn Benchelt, Investor Relations Director
        (630) 218-7364
        ir@inlandrealestate.com
        or
        Inland Communications, Inc. (Media):
        Joel Cunningham, Media Relations
        (630) 218-8000 x4897
        cunningham@inlandgroup.com

/quotes/zigman/360677/quotes/nls/irc

Add to portfolio

IRC

Article source: http://www.marketwatch.com/story/inland-real-estate-corporation-pays-may-and-declares-june-cash-distribution-to-common-stockholders-2012-05-17

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Norman Rousseau, Foreclosure Victim, Commits Suicide During Wells Fargo Lawsuit

May 18

Posted by News Feed in General Real Estate

Last Saturday night, Norman Rousseau reportedly spent hours trying to fix an old RV. He was facing the prospect of foreclosure, and he wasn’t about to see his family forced onto the street. Then mid-morning, with the RV’s engine in pieces, he shot and killed himself, CBS Los Angeles reports

Rousseau, who lived in Newbury Park, California, has left a wife and stepson to deal with an ongoing battle with Wells Fargo, according to a lawsuit filed in January 2011 by Norman and his wife, Oriane (h/t Alternet).

“Our thoughts are with the friends and family of Mr. Rousseau at this difficult time. The eviction has been postponed and we will continue to work with Mrs. Rousseau,” a Wells Fargo spokesperson said to The Huffington Post in an email. “Despite current reports, we tried repeatedly to find affordable options for the family.”

The trouble started when the Rousseaus refinanced their mortgage, finding out much later that their interest rate actually increased after they did so, the lawsuit states. On top of that, the lawsuit claims that the couple was convinced to roll their credit card debt into the loan, ostensibly prolonging and increasing that debt as well, according to Chris Gardas, the attorney representing the Rousseau family.

At the time, the deal “tasted like honey” to Rousseau, who believed she and her husband had made a solid financial decision, Gardas told The Huffington Post.

Then in May 2009, Wells Fargo allegedly denied it had received the Rousseaus payment for that month. Later, the bank would change its story, blaming the mix-up on putting a stop on the couple’s check, CBS Los Angeles reports.

What ensued were repeated and inaccurate requests for payment from Wells Fargo, along with excessive fees and a denied loan modification, according to the lawsuit. That climaxed in a lockout that appears to have led Norman Rousseau to his death, according to the lawsuit. The eviction has now been delayed two weeks, according to the family’s attorney.

Oriane has no desire to stay in the home that’s the scene of her husband’s suicide, the family’s lawyer says. She’s living in a hotel paid for by local church members but, should that support run out, she may be forced to return until evicted.

Norman Rousseau now counts among the victims of the foreclosure crisis driven to tragic ends. Just last week, a Connecticut woman facing foreclosure shot her 85-year-old mother before turning the gun on herself, The Hartford Courant reports. The event is sadly reminiscent of a senior Ohio couple who, also facing foreclosure, were found with fatal gunshot wounds.

Wells Fargo has originated a third of all residential U.S. mortgages, the most in the country and triple the share of the runner-up, JPMorgan Chase, according to Bloomberg. The bank is also one of five that agreed to pay a $25 billion settlement over allegations of mortgage fraud. It recently received a $3.1 million fine for “highly reprehensible” behavior related to one Louisiana man’s mortgage.

Wells Fargo isn’t likely to suffer similar punitive damage here, the family’s lawyer told The Huffington Post. “Instead, everybody just says they’re doing their job.”

As of last night, Mrs. Rousseau told Gardas that she has yet to hear personally from a Wells Fargo spokesperson.

Article source: http://www.huffingtonpost.com/2012/05/17/norman-rousseau-foreclosure-victim-suicide-wells-fargo_n_1521743.html

Tags: real estate

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Sacramento area home prices stay flat in April

May 18

Posted by News Feed in Local Real Estate

The median sale price for single-family detached resale homes in Sacramento County ticked upward in April for the fourth straight month, according to figures released this morning by DataQuick.

But the median price of $162,000 was down slightly, by 1.8 percent, from the same period a year ago, the San Diego real estate information service said in its monthly report on the housing market.

Figures for El Dorado, Placer and Yolo counties also show increased median prices month over month, from March to April. Tight inventory is creating some upward pressure on prices in the spring buying season, experts say.

Placer County continues to be the bright spot in the region, with a four percent year-over-year increase in the median resale home price in April. Placer also had the highest median home price of $275,000 last month.

Taken together, the numbers paint a picture of a housing market that’s relatively flat and stabilizing, said DataQuick analyst Andrew LePage.

“North or south of zero by 3 percent is flat to me,” LePage said. “We’re not seeing big declines anymore. Price stability is widening.”

It remains to be seen how that stability is affected by news coming from the governor’s office of a massive budget shortfall and need for additional cuts in state spending, he said.

One hopeful figure, LePage said, is a decline in the percentage of foreclosed homes on the market.

In Sacramento County, foreclosure resales slipped to 42 percent in April, down from 51 percent a year earlier. Last month’s figure was the lowest since November 2007, when foreclosure resales made up 37 percent of the county’s resale market, LePage said.

Fewer foreclosures could be good news for the market. The high rate of foreclosures has been blamed for keeping prices depressed.

Call The Bee’s Hudson Sangree, (916) 326-5538.

Real Estate Agent from Sacramento Found Guilty on 13 Counts of Mortgage Fraud …

May 18

Posted by News Feed in Local Real Estate

(Source: FBI) – United States Attorney Benjamin B. Wagner announced that a federal jury found Behrooz Badie, 53, of Sacramento, guilty of 13 counts of mail fraud following a six-day mortgage fraud trial before United States District Judge Edward J. Garcia.

According to the evidence presented at trial, Badie, with co-defendants Derek Davis and Dino Rosetti (both of whom previously pleaded guilty), participated in a scheme to defraud mortgage lenders from June 2005 through December 2006. Badie was the buyer’s real estate agent for the purchase of 16 residential properties by four straw buyers. Rosetti served as the mortgage broker for 15 of the purchasers, and Davis orchestrated the scheme.

With Badie’s assistance, Harriette Davis, Derek Davis’ ex-wife, purchased six residential properties. Kristina Harvey, Davis’ girlfriend, purchased five. William Emmons, an elderly friend of Davis’, purchased four. Alan Bolton, a person to whom Davis owed money, purchased one. Each of the purchase agreements drafted by Badie indicated the offer was being submitted by one of the foregoing buyers who intended to occupy the property as his or her primary residence. In fact, Badie knew the properties were really being purchased by Davis, who planned to remodel the properties and then sell them. The individuals named on the purchase agreements, at least two of whom Badie never even met, never planned on residing in the properties. Badie submitted the offers on behalf of the buyers so that 100 percent financing could be obtained for each purchase. In furtherance of that goal, Rosetti submitted loan applications that, in every case, substantially overstated the income and understated the liabilities of each buyer.

The purported prices on the purchase agreements drafted by Badie also overstated the true price of each property. These prices included not only the amount to be paid to the respective seller of the property but also a substantial cash-back payment that would be made from the seller to Calorneva Land Company at the close of escrow ranging from $42,094 to $137,980. These payments were agreed to in addenda Badie drafted, indicating the payments to Calorneva were for repairs or improvements to the properties. Although the purchase agreements were provided to the lenders and the appraiser with respect to each transaction, the addenda were not. Upon acceptance of the offers, Badie would ask the listing agent to increase the publicly available Multiple Listing Service price for a particular property to the inflated purchase price in the agreement he drafted. This was done to make it appear as if Badie was simply submitting full-price offers, not offers well over the actual asking price. Thus, neither the lenders nor the appraiser were aware of the cash-back payments to Calorneva or that the true market value of the properties in every case was considerably lower than that offered by Badie. At the close of escrow, the difference between the inflated purchase price and the amounts the sellers were actually willing to accept for their properties was diverted to Calorneva. In all, Calorneva received more than $1.3 million in such payments. For his part, Badie received more than $260,000 in commissions.

This case is the product of an investigation by the Internal Revenue Service-Criminal Investigation, the Federal Bureau of Investigation, and the California Department of Real Estate. Assistant United States Attorneys Philip Ferrari and Todd Leras are prosecuting the case.

Badie is scheduled to be sentenced by Judge Garcia on August 28, 2012 at 10:00 a.m.. He faces a maximum statutory penalty of 20 years in prison. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables

Source: FBI

Posted by Alex Ferreras on May 17, 2012.

Tags: california news, fbi news, fraud, mortgage fraud, Sacramento News

Categories: Scams

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Article source: http://www.loansafe.org/real-estate-agent-from-sacramento-found-guilty-on-13-counts-of-mortgage-fraud-scheme

Tags: Foreclosure, real estate, Realtor, Sacramento, Short Sale

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Real estate spotlight, May 18, 2012

Foreclosure Filings Plummet to Lowest Since June 2011

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Biz Buzz: Retail vacancy rates hit low in region

Median home sale price up a bit in Sacramento County

Inland Real Estate Corporation Pays May and Declares June Cash Distribution to …

Norman Rousseau, Foreclosure Victim, Commits Suicide During Wells Fargo Lawsuit

Sacramento area home prices stay flat in April

Real Estate Agent from Sacramento Found Guilty on 13 Counts of Mortgage Fraud …

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