North Bay Business Journal

EAH takes over management of Cloverdale senior apartments

CLOVERDALE – EAH Housing has joined with King’s Valley Senior Apartments, an affordable senior community in Cloverdale.

Federal housing officials ease some existing energy loan rules

SONOMA COUNTY – The Federal Housing Finance Agency has withdrawn its threat to consider early participants in the Sonoma County Energy Independence Program in default of mortgages if a real estate tax lien is in place. But the future is cloudy for Fannie Mae and Freddie Mac borrowers who entered, or seek to enter, the program after July 6.

School land, water source among new Napa Pipe elements

NAPA — The developers of Napa Pipe have agreed to several additions to the proposed mixed-use neighborhood project including donating 10 acres for a school and a shift from groundwater to surface water for residents. The changes will be released in a supplemental Environmental Impact Report this fall.

Lennar buys Linwood development from Christopherson

SONOMA COUNTY — National homebuilder Lennar Corporation has purchased Santa Rosa-based Christopherson Homes’ Linwood properties near the Sonoma County Fairgrounds and expects to have a sales office open within a month.

Long-delayed projects enter key phases

NORTH BAY – Two major residential projects in Sonoma County that have been held up for years because of regulatory processes and lawsuits have entered new phases of progress.

Latest California homebuyer tax credit expected to go quickly

NORTH BAY – Gov. Arnold Schwarzenegger signed a new Homebuyer Tax Credit bill into law effective May 1.

Residential Real Estate: Week focuses attention on affordable housing

Also: Home market shows signs of stability; Midstate receives honor

Angwin Eco Village report due in July; size remains open

NAPA – Pacific Union College’s proposed Eco Village in Angwin has been scaled down from the original 1,600 units to 600 units to 380, and it may scale back further after the environmental impact report is out.

Downturn’s silver lining: We’re attractive, affordable

If there is anything approaching a silver lining to the impacts of the Great Recession on the North Bay and particularly Sonoma County, it might be this:

For the first time in decades, the conditions exist in the North Bay’s most populous county to make it a very attractive and affordable place for business.

Supreme Court ruling protects buyer-seller options

CALIFORNIA – The California Supreme Court has upheld and clarified protections for real estate buyers to have time to investigate properties before purchase, particularly for developers in hot markets.

Real Estate: After veto, governor asks lawmakers for new mortgage tax relief measure

Because of a bill vetoed last week by Gov. Arnold Schwarzenegger, California homeowners who sell short will have to pay taxes on forgiven mortgage debt.

New title policy could further crimp lending

NORTH BAY — Title insurance companies are no longer providing “creditor’s rights” in accordance with the recent recommendations of both the American Land Title Association and the California Land Title Association.

Marin County apartments: Savvy investors move in to snap up properties

The Marin County apartment market started strong in the first quarter of 2010 on the heels of an uptick in activity that began in the summer of 2009. Real estate investors sitting on the side lines in the first half of last year moved back in to the market to scoop up distressed apartment properties in good locations.

Sonoma County apartments: 2009 ‘swallowed’ the market; but 2010 looks better

While most owners and managers of apartment property in Sonoma County probably aren’t celebrating yet, things seem to be on a reasonably healthy track.

Napa-Solano apartments: Rent incentives common as cap rates show improvement

Assuming that historical indicators hold true, the recession is over, we are told, and the economy is starting to rebound at some level.

51 units of affordable housing set for downtown

SANTA ROSA – The Hugh Futrell Corp. and Burbank Housing are teaming up on a 51-unit affordable housing project with 2,500 square feet of commercial space in downtown Santa Rosa.

NAPA: Napa resort developer leads global housing group [updated]

Also: Chamber CEO Batto talks about jobs, local economy

Borrowers face risks in foreclosures, short sales

NORTH BAY – With the rise of foreclosures and short sales, homeowners, commercial property owners and real estate investors should be looking out for some potentially costly pitfalls.

UCLA economist sees a bottom to deep economic downturn

SANTA ROSA – The State of Sonoma County Report to the Community Jan. 20 recapped the causes of the deepest economic downturn since the Great Depression and previewed signs of recovery.

Marin Builders Association buys Marin Home Show

SAN RAFAEL — The Marin Builders Association acquired rights to the Marin Home Show, giving the construction industry group an opportunity to provide its members a venue to further promote their businesses. The annual event will continue to showcase new products and services as well as help homeowners connect with contractors. Doris Bagley will stay on as producer of the event to ensure a smooth transition for exhibitors.