Statement of David Stevens on President Obama's Housing Speech

David H. Stevens

WASHINGTON, DC. (Aug. 6, 2013) – Statement by MBA President and CEO David H. Stevens Regarding President Obama’s housing finance speech,“A Better Foundation for Middle Class Homeownership”:

“We applaud President Obama for laying out a vision for housing finance, with key elements similar to those embraced by many stakeholders, including MBA.This is an issue that affects the well-being of every American, whether a homeowner or a renter, and we welcome the President’s attention and leadership.

President Barack Obama

“Of particular importance is the President’s insistence on transitioning the mortgage market toward a future state that will rely primarily on private capital, while at the same time ensuring sufficient liquidity and the availability of the affordable 30 year fixed rate mortgage, and mortgages that finance multifamily rental housing, in both good and bad times, through an appropriate use of a government guarantee.

“Additionally, the President seems willing to adopt a common securitization platform and risk-share options, both of which are key components MBA believe should be part of reforming the secondary mortgage market and can be implemented now without legislation.

White House, Washington, DC

“Going forward it will continue to be critical that the White House and Congress work in a bi-partisan, cooperative manner to develop and implement long-term housing finance policies that support and protect all consumers, while at the same time promotes access to credit for all qualified borrowers.

“MBA looks forward to continuing to work with all involved parties in refining the numerous recently proposed plans and policies, in hopes of strengthening the housing finance system to ensure owner-occupied and rental housing for all Americans.”

A link to MBA’s five-part plan, Key Steps on the Road to GSE Reform, can be found here.

For a complete copy of the company’s news release, please contact:

Rob Van Raaphorst

(202) 557-2799

ZipRealty Ranks the Top 10 Most Affordable Places to Live in Boston Without a Car

EMERYVILLE, CA, Aug. 7, 2013 – ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the nation’s most prominent technology powered residential real estate brokerage firm and real estate marketing solutions provider, has teamed up with Walk Score to rank the most affordable places to live in Boston without a car.

Josh Herst

To create the list, ZipRealty analyzed data provided by WalkScore.com, along with ZipRealty’s knowledge of current median home sales prices to produce a carless/affordability ratio.

 The 10 highest-ranked communities have a Walk Score, Bike Score and Transit Score of 60 or higher, which means they meet or exceed the following criteria:

They are “very walkable,” have “good transit” and are “bikeable,” according to Walk Score. Most of the Boston communities reviewed in this study, however, have “excellent transit” options and are a “walker’s paradise.”

WalkScore.com assigns a number between 0 and 100 −with 100 being the highest −to rank the ease of walking, biking or using public transit from an address, whether it’s a single-family home or rental apartment.

To calculate city- or neighborhood-level scores, WalkScore.com calculates the Walk Score of approximately every block across a city or neighborhood and then weights the Walk Score of each point by population density. Therefore, the walkability ranking reflects where people actually reside.

The top 10 most affordable places to live in Boston without a car are listed in the table below:

Rank	Community	Walk Score	Transit Score	Bike Score	Aggregate Score	Median Home Price
1	Allston	86	80	82	83	$280,000
3	Brighton	79	76	62	72	$302,500
3	Jamaica Plain	77	76	85	79	$392,000
4	North End	96	99	76	90	$466,000
5	South Boston	79	64	69	71	$440,250
6	Charlestown	81	73	75	76	$550,000
7	Beacon Hill	97	100	77	91	$699,000
8	South End	94	95	82	90	$734,500
9	Downtown	94	100	83	92	$784,500
10	Back Bay	95	97	88	93	$895,000

“Walk Score helps people find great neighborhoods to live that are close to the places and people they love and that offer easy access to public transit and shorter commutes,” says Walk Score CEO Josh Herst.

 

"Home shoppers are increasingly looking for places to live where they can be less dependent on their cars,” says Mr. Herst. “The average American spends over $9,000 per year on their car. 

"This is the equivalent of a $135,000 mortgage and the second-largest expense for many households. Moreover, people who live in walkable neighborhoods report being happier and healthier and, on average, way six to 10 pounds less.”

 For a complete copy of the company’s news release, please contact:

Stacey Corso

Public Relations Manager

ZipRealty, Inc.

Office: 510.735.2667

Cell: 415.672.6460

www.ziprealty.com

Follow us on Twitter: @ZipRealty

NAI Realvest Negotiates Sale of 17 Acres of Residential Development land in New Smyrna Beach, FL

Aerial photo of planned 17-acre Golf Village at Turnbull Bay, New Smyrna Beach, FL

  

New Smyrna Beach, Fla. -- NAI Realvest, based in Maitland, recently negotiated the sale of 17 acres of residential development land located on the south side of Turnbull Bay in New Smyrna Beach.  

Chris Butera

 Chris Butera, investment associate at NAI Realvest, brokered the transaction representing the seller, CharterBank of Carrollton, Ga.      

 The buyer, IPM Real Estate based in Lakewood N.J. paid $130,000 for the vacant land which is a project called The Golf Village at Turnbull Bay planned for 87 single-family homesites.

For a complete copy of the company’s news release, please contact:

Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

$92.5 million sale of Broadstone Laurel Highlands closed by HFF’s Washington, D.C. office

Broadstone Laurel Highlands, 8141 McCauley Way, Lorton, VA

WASHINGTON, D.C. - HFF announced today that it has closed the sale of Broadstone Laurel Highlands, a 300-unit, Class A multi-housing community in Lorton, Virginia.

David Nachison

HFF marketed the property on behalf of the seller, Alliance Residential Company.  MetLife Real Estate Investments purchased Broadstone at Laurel Highlands for $92.5 million free and clear of existing financing.

Broadstone at Laurel Highlands is located at 8141 McCauley Way in Southern Fairfax County offering close proximity to the still-expanding Fort Belvoir and immediate access to Interstate 95 and the Lorton Virginia Railway Express (VRE) station. 

Alan Davis

Completed in 2011, the property features one-, two- and three-bedroom apartments plus three-bedroom townhomes averaging 1,119 square feet.  Community amenities at the 96 percent leased Class-A community include a resident lounge, movie theatre, business center with coffee bar, fitness center, resort-inspired pool, outdoor fireplace, outdoor grill stations, tennis and basketball courts and a bark park. 

                The HFF team representing the seller was led by senior managing directors David Nachison and Alan Davis and director Brenden Flood.

Brenden Flood

                “The property’s immediate success speaks to the unfilled niche of large apartment homes sought by military and military related families around Fort Belvoir,” said Nachison.  “The mix of apartment homes, which includes 65 percent two- and three-bedroom floorplans offers residents the opportunity to send students to Fairfax County’s newest, and very highly regarded schools.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.metlife.com/realestate