Nationwide

Tue
27
Jun
John Triplett's picture

Fix And Flipper In Colorado Pleads Guilty To Fraud

Colorado fix and flipper pleads guilty to fraud in federal court

A Colorado home fix and flipper who owed Homesource Partners, Inc, and formerly ran a “We Buy Ugly Houses” franchise, has pleaded guilty in federal court one count of wire fraud and one count of engaging in a monetary transaction in property derived from wire fraud, according to a release from the U.S. Attorney.

Karen Lynn McClaflin, 58, of Colorado Springs, Colorado, pled guilty to fraud that involved having multiple real estate investors invest in the same property and occasionally forging the signature of other real estate investors, according to the release.

According to the stipulated facts contained in the plea agreement, in December 2005, McClaflin and a partner opened a franchise of “We Buy Ugly Houses” named Trademark Properties and Trademark Reality (“Trademark”) in Colorado Springs.

Tue
27
Jun
The Editors's picture

New Scottsdale Apartments To Feature Low-Density And Large Floorplans

New apartments in North Scottsdale targeting older demographic

New apartments opening in North Scottsdale this fall, San Portales, plan to offer some of the  largest units built as rentals in Arizona and are targeted to an old demographic, according to a release.

The new complex is targeted to an older demographic. It features larger rental units, direct-access two-car garages and elevators located throughout the development, according to multifamily developer Mark-Taylor.com

Mon
26
Jun
The Editors's picture

Fewer Renters Think It Is A Good Time To Buy A Home

Few renters think it is a good time to buy a home

A new survey shows fewer renters think it is a good time to buy a home and they are not optimistic about the economy and their personal financial situation, according to a release.

The National Association of Realtors (NAR) released the new quarterly Housing Opportunities and Market Experience survey showing how the morale of renters about buying a home has declined.

 "Paying more in rent each year and seeing home prices outpace their incomes is discouraging, and it's unfortunately pushing home ownership further away — especially for those living in expensive metro areas on the East and West Coast,"  Lawrence Yun, NAR chief economist, said in the release.

Fri
23
Jun
The Editors's picture

Seattle Landlords Will Now Have To Provide Tenants Voter Information

New Seattle ordinance says landlords must provider voter information to new tenants

The Seattle City Council has approved a new ordinance that requires landlords to provide new tenants with voter-registration information, according to reports.

Currently when new tenants move in, landlords are already required to give them a large number of documents prepared by the Seattle Department of Construction and Inspections (SDCI), that outlines their rights as tenants. The documents amount to about 15 pages, and the new voter ordinance would add two more pages to what landlords need to provide. Landlords have the option of downloading the packet online and printing it out.

The council passed the new ordinance by a vote of 6-0.

The ordinance has met with a mixed reaction from landlord groups.

Thu
22
Jun
The Editors's picture

Cost Of Freon For Older Air Conditioner Repairs Is Skyrocketing

cost of air conditioner repairs on older systems could skyrocket this summer

Air conditioner repairs this summer will come with skyrocketing costs for the refrigerant R22, more commonly known as Freon™, according  to a release.

Production of R22 refrigerant, which is being phased out by the Environmental Protection Agency because it contains environmentally harmful ozone-depleting substances, has already dropped by 90 percent. Production will be prohibited by 2020.

In air conditioner repairs, owners face the challenge of whether to repair or to replace a system using R22 refrigerant from both a financial and environmental perspective, according to the release.

Wed
21
Jun
The Editors's picture

Housing Demand Robust But Not Enough Homes For Buyers

Housing demand high but not enough inventory

More Millennials are starting families and want to buy homes, but they heading into a housing market with inadequate inventories and rising prices, a new study says.

In addition existing homeowners are reluctant to sell their homes because there is not enough inventory for them to find another home to buy says First American Financial Corporation in a release.

Low inventories, high demand and declining affordability

“As more and more Millennials marry and have children, among the strongest determinants for the desire to be a homeowner, demand for housing will remain robust. However, the housing market faces a dilemma that is restricting the inventory of homes for sale,” Mark Fleming, chief economist at First American, said in the release.

Tue
20
Jun
The Editors's picture

Seattle May Restrict Landlords’ Questions About Tenant Criminal Backgrounds

Seattle wants to restrict criminal background questions landlords can ask tenants

The City of Seattle is planning soon to take up legislation that would restrict landlords’ questions about prospective tenants’ criminal backgrounds, according to several reports.

This move is part of Seattle Mayor Ed Murray’s “action plan to address Seattle’s affordability crisis,” according to his Roadmap to an Affordable and Livable City.

There are few details available yet on when this will go to the council for review. Here is what the mayor’s roadmap says on the issue of criminal backgrounds and tenants in Seattle:

Tue
20
Jun
The Editors's picture

Multifamily Employee And Resident Satisfaction Are Tied Together Study Says

The multifamily industry and the importance of corporate responsibility in new benchmark study

It is becoming more important than ever that a multifamily company be seen as being socially responsible, much as Google says “Don’t be evil,” according to a new benchmark study.

Corporate social responsibility is now an expanding concept, according to ManagInc’s new study, and includes caring for all stakeholders, including everyone who has an impact on a multifamily company’s success from employees and suppliers to residents and to the communities one does business within. It is especially important to Millennials.

Mon
19
Jun
The Editors's picture

Salt Lake City Company Buys Arizona Apartments For $77 Million

Salt Lake City company buys Arizona apartments in Tempe for $77 million

A Salt Lake City-based real estate investment and property management firm has purchased Arizona apartments called the Onnix, a 659-unit apartment property in Tempe, Arizona for $77 million, or $116,920 per unit, according to a release.

Marcus & Millichap said in the release that its Institutional Property Advisors (IPA) division closed the sale .

“The physical improvements made to Onnix, its excellent location and tremendous scale place the property in an enviable position within the competitive landscape of Tempe,”  Cliff David, senior managing director of IPA, said in the release.

 “New ownership has the opportunity to resume implementing the apartment interior renovation program in an effort to generate additional monthly rent premiums.”

Tue
13
Jun
The Editors's picture

Landlord To Pay $20,000 To Settle Pet Discrimination Case

Landlord agrees to settle pet discrimination case in Reno, Nevada

The owner of several Reno, Nevada apartment complexes has agreed to pay $20,000 to settle allegations pet discrimination and Fair Housing Act violations involving requiring pet deposits from prospective tenants who require assistance animals, according to a release.

The Silver State Fair Housing Council filed four complaints against the owner and manager of Silver Lake Apartments, Vale Townhomes, Oak Manor Apartments and Angel Street Apartments with the U.S. Department of Housing and Urban Development (HUD).  These complaints allege ERGS, Inc. and Silver Lake Apartments, LLC discriminated against prospective tenants who required assistance animals by requiring applicants who required support animals to pay a pet deposit fee.  

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