Lifestyles Directors Help Set Active Adult Community Apart from Competition

With a 28,000 square-foot clubhouse equipped with two on-site lifestyle directors, Soleil Laurel Canyon can sometimes feel like year-round camp for grownups.

Lifestyle Director Sue Dean was brought on board in 2008 to help coordinate the community’s more than 50 social clubs and numerous events such as Jazz on the Lawn and happy hours that take place at the resort-inspired community throughout the course of a month.

“You can buy a home anywhere, but what sets this community apart is the diversity of events that are available for our residents,” said Dean, who is on-site Monday through Friday from 8 a.m. to 4 p.m. as well as after-hours for community events.

With tremendous growth in sales over the last few months Active Lifestyle Communities (ALC), the developer of Soleil Laurel Canyon, recently brought on its second lifestyle director, making the community one of few in the country that boasts two such directors.

“I absolutely love being here,” said Laura Mahoney, who began working in the community in April. “Not only are we appreciated by the residents of the community, but we are also appreciated by ALC for the work we do. It’s great that we can help our residents always feel like they are on vacation.”

Dean recommended Mahoney for the position when it became available. The two met while attending event planning school together at Kennesaw State University a few years back.

“We needed a person like Laura here,” said Dean. “She has the absolute right personality for the job and the residents just love her.”

With hospitality and real estate backgrounds, the two have a great understanding of how to not only work with existing residents, but also prospects as well.

“Sue and Laura both understand the importance of making our residents and prospects feel comfortable by including them in well planned activities and events,” said Jay Clark, a partner in ALC and president of Southeast Capital Companies. “Residents don’t necessarily have to participate in every club or event, but having two quality lifestyle directors like we do, definitely allows our residents to feel more welcomed.”

Unlike the traditional active adult community, Soleil Laurel Canyon includes activities and clubs for every lifestyle. Residents can often be found in the community’s clubhouse in its billiards parlor, gourmet teaching kitchen, library, card-playing room, media room, fitness center and arts or crafts studio complete with kilns. A heated indoor saline pool along with an outdoor lagoon-style pool also allows residents to swim all year long.

Nestled in Soleil Laurel Canyon’s expansive property are walking trails, bocce ball courts, six lighted clay tennis courts, a greenhouse and horticulture center and an outdoor amphitheatre.

Soleil Laurel Canyon’s 50 plus social clubs include “Les Marmitons” an international men’s gourmet cooking club, a garden club, quilting club and many more. Most recently, Soleil added a men’s breakfast group, various book clubs and chess club to name a few. For a full list of clubs, activities and classes, visit www.SoleilLaurelCanyon.com.

About Soleil and ALC:
Active Lifestyle Communities (ALC) is a partnership between Southeast Capital Companies (formerly Southeast Capital Partners) and Patrick Malloy Communities. The Company purchased Soleil Laurel Canton in an all-cash transaction with the plan to invest $28 million. Residents of the neighborhood’s 248 homes enjoy exceptional amenities including a 28,000 sq. ft. clubhouse with a heated indoor saline pool, billiards parlor, gourmet teaching kitchen, fitness center and aerobics studio, library, card rooms and an arts and crafts studio. A performing arts center, outdoor amphitheatre, outdoor lagoon-style pool, tennis courts, walking trails, greenhouse and neighboring golf course complete the resort-style environment. To learn more visit: www.soleilLaurelCanyon.com.

Bankrate: Mortgage Rates Continue to Drop

/PRNewswire/ -- Mortgage rates moved even lower this week, with the average conforming 30-year fixed mortgage rate hitting a record low of 4.66 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.42 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/

The average 15-year fixed mortgage dropped to 4.11 percent, and the larger jumbo 30-year fixed rate remained at 5.43 percent. Adjustable rate mortgages were mixed, with the average 5-year ARM sliding to 3.95 percent and the average 1-year ARM remaining at 4.80 percent.

Mortgage rates hit yet another record low as worries about weak economic growth just won't go away. Recent speculation that the Federal Reserve may resume measures such as purchasing mortgage-backed bonds or government debt - perhaps as soon as next week's FOMC meeting - helped bring rates lower. Whether or not the Fed pursues such a course likely hinges on the July jobs report to be released Aug. 6. Even without any action by the Fed, the next move in mortgage rates is also pegged to the employment report.

The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 4.66 percent, the monthly payment for the same size loan would be $1,032.47, a savings of $209 per month for a homeowner refinancing now.

SURVEY RESULTS
30-year fixed: 4.66% -- down from 4.71% last week (avg. points: 0.42)
15-year fixed: 4.11% -- down from 4.17% last week (avg. points: 0.40)
5/1 ARM: 3.95% -- down from 4.07% last week (avg. points: 0.30)



Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

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Near Majority Want Housing Tax Credit

(PR.com)-- Close to a majority of those surveyed said they want the federal tax credit for home buyers to be re-established by Congress to re-stimulate the housing market. The finding was determined by a just released Housing Predictor opinion poll.

Nearly half of all respondents or 48% said they want the tax incentive to be re-started. Another 25% said it would be best to bulldoze a surplus number of mostly old and vacant homes to help markets recover from their record downturn. Get the full details on the opinion poll at Housing Predictor dot com.

Housing Predictor is an independent real estate research firm that’s been forecasting housing markets in all 50 states for five years, surveying visitors on the latest trends and hop topics in real estate and providing the latest in real estate news.

The website just also added a new feature, inviting visitors to express your views by writing an article to be published on the site. Submit your news to Housing Predictor.

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Operation HOPE Launches Mortgage HOPE Crisis Hotline and HOPE Consumer Credit Crisis Hotline at New Regional Offices in Downtown Atlanta

(BUSINESS WIRE)--In response to the ongoing financial struggles of middle- and low-income Americans, John Hope Bryant, Founder, Chairman and Chief Executive Officer of the economic empowerment nonprofit Operation HOPE (HOPE) announced the regional launch of the Mortgage HOPE Crisis Hotline and the HOPE Consumer Credit Crisis Hotline in the Atlanta area. The toll-free hotline at 888-388-HOPE (4673) provides free financial counseling to those faced with mortgage and credit challenges.

“With the unemployment rates not getting any better, the effects of the sub-prime mortgage crisis not yet behind us and credit card interest rates soaring, the next financial crisis to hit this nation will be dealing with budgeting, credit and credit cards”

“With the unemployment rates not getting any better, the effects of the sub-prime mortgage crisis not yet behind us and credit card interest rates soaring, the next financial crisis to hit this nation will be dealing with budgeting, credit and credit cards,” said Bryant, the business bestselling author of LOVE LEADERSHIP: The New Way to Lead in a Fear-Based World.

According to Federal Reserve estimates, the total outstanding credit card debt carried by Americans surpassed a record $960 billion in 2009 and is increasing quickly as more people rely on credit cards to help them survive. What’s worse is that credit card defaults are estimated to be well over 10 percent.

The toll-free hotlines provide free support in the areas of consumer credit and mortgages. The Mortgage HOPE Crisis Hotline staff is certified in foreclosure intervention and default counseling and the HOPE Consumer Credit Crisis Hotline staff members are certified personal finance counselors. Counselors for the hotlines are experienced and trained to provide guidance on a variety of different financial topics including negotiating with your lender, applying for loan modifications, avoiding foreclosure, restructuring your existing debt and obligations, negotiating with your creditor and credit, debt and budgeting support. The Mortgage HOPE Crisis Hotline has already received 100,000 calls and assisted in over $360 million in modified loans.

Operation HOPE has had a presence in the Southeastern Region since 2004. Through their youth financial literacy educational program Banking on Our Future, HOPE has educated over 20,000 students in Atlanta area public schools in the “language of money” involving over 1250 HOPE Corps volunteers. In addition, HOPE Coalition America has provided emergency and disaster recovery support to the region, helping 130,000 survivors of Hurricane Katrina as well as victims from Hurricanes Ike, Gustav and the Georgia Floods of 2009.

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Many Spectacular Island Properties to be Sold at Absolute Auction on June 17

/PRNewswire/ -- It's truly a rare day when you can purchase a spectacular Georgia coastal property at absolute auction. It's far more unusual when many such properties are auctioned on the same day, according to William Bone, President of National Auction Group (www.nationalauctiongroup.com).

That will be the case on Thursday, June 17 where bidders will have the chance to purchase a special lifestyle, either for recreational or investment purposes, on Sea Island, St. Simons Island, Tybee Island and St. Mary's.

Those properties to be sold include: two luxury condominiums with hardwood floors in the living room, kitchen and master bedroom, an elevator, gourmet kitchen with stainless steel appliances, and a double garage located a stone's throw from the beach; a five bedroom, five bathroom marsh front home in the exclusive Hawkins Island area of St. Simons Island with a swimming pool, hardwood floors, granite countertops and beautiful views of the marsh; two ocean-view condos with three bedrooms and three and a half bathrooms located on Ocean Boulevard; and two acres on the St. Mary's River that is zoned residential and features a 160ft. long pier with two floating docks attached.

Also up for auction is: a beautiful four bedroom, four bath home on Tybee Island with beach views, garage parking, hardwood floors and a widow walk; a vacant marsh front lot located at 102 Thomas Lane in the beautiful Hawkins Island area of Sea Island; a Hampton Club Golf course townhome which includes two bedrooms and two baths. It enjoys views of the golf course and is part of the gated Hampton Club community; and a very nice condotel unit with 24-hour concierge service located adjacent to the St. Simons Lighthouse and within walking distance of great restaurants.

"These are a truly wonderful and diverse collection of properties," said Bone. "And their wonderful locations make them even more special. This is a remarkable opportunity to bid on numerous spectacular properties and to enjoy a special coastal area lifestyle."

These properties are available for viewing daily from 10am to 6pm. To schedule an appointment, please call 877-547-5560 or 256-547-3434. The auction will take place at The King and Price Beach & Golf Resort located at 201 Arnold Road on St. Simons Island. For more information, visit www.nationalauctiongroup.com.

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Foreclosures Fall 9% Nationwide During April

/PRNewswire/ -- Foreclosure Deals, a leader in providing listings of foreclosed homes for sale nationwide, reported today that foreclosure filings in April fell 9% from the previous month, and over 2% from April of 2009. The company also revealed that default notices, which mark the beginning of a new foreclosure, were down 12% from March and over 27% from the previous year, while bank repossessions (also known as REOs) of existing foreclosures hit a record high. These facts lead experts to believe the foreclosure market could be leveling off.

"Fewer foreclosure homes coming onto the market and more foreclosures being resolved by bank repossession is certainly a sign that the market is contracting," remarked James Foxx, a business analyst with Foreclosure Deals. "We have yet to see how this trend will play out, but if it continues it will lead to fast-growing foreclosure property values for foreclosure investors who act now."

The statistics show that the highest volume of foreclosures is concentrated in 5 states: Florida, California, Michigan, Illinois and Nevada. These states account for just over 50% of the national total. The Top 5 states for foreclosure rates remain Nevada, Arizona, Florida, California and relative newcomer Utah. Michigan saw the highest increase in foreclosures in the past year at 77%, while California saw the biggest drop, down 29%. California also saw the biggest monthly drop at 27%, with Georgia close behind, falling 21%.

Reno, NV was the only city among the Top 10 cities for foreclosure rates that saw an increase in foreclosures from April of 2009, another good sign for the national market. Other cities like Las Vegas, NV; Modesto, CA; Bakersfield, CA; Phoenix, AZ; Cape Coral, FL and Fort Myers, FL, all saw their foreclosure rates decrease over the past year.

Other states in the Top 10 for foreclosure rates were Idaho, at 1 in 226 homes; Georgia at 1 in 288 homes; and Colorado, at 1 in 337 homes. Despite being among the Top 10 states for foreclosure volume, Texas, Ohio and Virginia were not among the Top 10 states for rates of foreclosure.

Foreclosure Deals specializes in providing the most recent foreclosure news and information, as well as foreclosure listings from across the nation. Visit www.ForeclosureDeals.com to learn more.

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Bankrate: Mortgage Rates Decline Amid Market Volatility

/PRNewswire/ -- Mortgage rates were down for the third week in a row, with the average conforming 30-year fixed mortgage rate falling to 5.07 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.42 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/

The average 15-year fixed mortgage stepped down to 4.45 percent and the larger jumbo 30-year fixed rate sank to 5.85 percent. Adjustable rate mortgages were mostly lower, with the average 3-year ARM backpedalling to 4.44 percent while the 5-year ARM dropped to 4.27 percent.

Worries over European debt rattled financial markets and brought mortgage rates to the lowest level since St. Patrick's Day. Once again mortgage shoppers were direct beneficiaries as nervous investors equate to lower mortgage rates. Furthermore, this cloud of global economic uncertainty likely gives the Federal Reserve even more latitude to hold the line on interest rates, so mortgage rates will stay a little lower, a little longer, than what was forecast just a few weeks ago.

The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 5.07 percent, the monthly payment for the same size loan would be $1,082.22, a savings of $159 per month for a homeowner refinancing now.

SURVEY RESULTS
30-year fixed: 5.07% -- down from 5.12% last week (avg. points: 0.42)
15-year fixed: 4.45% -- down from 4.49% last week (avg. points: 0.39)
5/1 ARM: 4.27% -- down from 4.31% last week (avg. points: 0.35)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/mortgagerates

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. Nearly two-thirds of the panelists, 64 percent, don't expect much change in mortgage rates and forecast that rates will be more or less unchanged over the next week. Count 29 percent as predicting an increase in mortgage rates, with just 7 percent foreseeing further declines over the next seven days.

For the full mortgage Rate Trend Index, go to http://www.bankrate.com/RTI

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Above Atlanta Realtors Opens

PRNewswire/  Above Atlanta LLC announced today the opening of its new real estate brokerage, Above Atlanta Realtors® at http://www.aboveatlanta.com/.

The new brokerage focuses on the sale and/or lease of high rise condominiums in Atlanta, GA. The real estate brokerage is wholly owned by Atlanta-native, Jeff Johnson, who also serves as the qualifying and managing broker for the firm. The brokerage uses the comprehensive web site AboveAtlanta.com to showcase most of the listed property in Atlanta through a data-feed from the First Multiple Listing Service, also known as FMLS. The web site has been noted as user-friendly with its list of high rise condominium buildings divided by area of town.

AboveAtlanta.com allows consumers to sign up for a Search Saver function that allows them to get emailed new listings that match what they are searching for on a daily basis. It features foreclosure listings, listings by popular subdivisions, Big Canoe listings and million dollar listings in Georgia.

"Atlanta's high rise real estate market currently offers many opportunities for buyers to purchase or lease at great values compared to two years ago," said Jeff Johnson, Owner of Above Atlanta LLC. "We want to create a brand synonymous with Atlanta's high rise real estate market by positioning AboveAtlanta.com as a source for consumers searching for Atlanta high rise condos either for sale or for rent."
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Homeowners Need to Consider Possible Legal Issues Before Deciding to 'Walk Away' from Mortgage Payment

/PRNewswire/ -- Homeowners who are considering "walking away" from their home to avoid making their mortgage payment need to know that their mortgage company may try to file a lawsuit to recover the amount owed on the home.

In addition, homeowners who sell their home for less than the amount they owe - a process called a "short sale" -- may be sued for the unpaid balance, even after the sale of the home. Finally, homeowners with unpaid home equity loans or second mortgages may also face legal action if they "walk away" from an unpaid mortgage or conclude a short sale.

"My advice is that no homeowner should ever simply 'walk away' or 'turn in the keys' without receiving a document that absolves them of all liability," said Frank Alexander, professor of law at Emory University School of Law and a member of the board of directors of Consumer Credit Counseling Service (CCCS) of Greater Atlanta.

"A borrower facing a foreclosure should assume that a post-foreclosure lawsuit is possible," said Alexander. "In addition, no homeowner should ever participate in a short sale without receiving a signed agreement clarifying that all outstanding debt has been forgiven. The same is true for all deed-in-lieu of foreclosure resolutions."

Before the current mortgage crisis, mortgage companies usually did not sue homeowners after foreclosure or short sales because many borrowers had little income and few remaining assets, according to Alexander.

But the increase in homeowners deciding to "walk away" from their homes means mortgage companies may file more lawsuits to try and recoup their losses. In addition, Alexander says that mortgage companies are often selling promissory notes for the amount owed on the mortgage, at steep discounts, to collection agencies. The collection agencies will likely pursue the former homeowner to collect the amount owed.

Because some borrowers who decide to "walk away" from their homes still have good incomes, Alexander predicts an increase in the number of lawsuits filed by mortgage companies to obtain garnishment of a homeowner's wages. "Garnishment actions are going to become quite common in late 2010 and throughout 2011 and 2012," he says.

If a homeowner involved in a foreclosure, a short sale or deed-in-lieu of foreclosure has any questions about this issue, Alexander recommends that they hire an attorney to determine if their mortgage company has any basis for legal action.

Consumer Credit Counseling Service of Greater Atlanta is one of the nation's largest nonprofit foreclosure prevention counseling agencies. In 2009, the agency provided foreclosure prevention counseling to more than 105,000 homeowners across the nation.

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Bankrate: Mortgage Rates Mostly Lower

/PRNewswire/ -- Rates for most mortgage products retreated this week, but not the average conforming 30-year fixed mortgage, which remained at 5.15 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.49 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/

The average 15-year fixed mortgage slipped to 4.52 percent and the larger jumbo 30-year fixed rate fell below the 6 percent mark, to 5.95 percent. Adjustable rate mortgages were mixed, with the average 3-year ARM declining to 4.58 percent while the 5-year ARM held at 4.56 percent.

Mortgage rates were mostly lower this week. Economic and financial market jitters continue to hold mortgage rates in check, with little movement in recent weeks. The average 30-year fixed mortgage rate, in particular, has barely budged over the past month and has settled at 5.15 percent in three of the past four weeks. Should worries about Greece and other European markets abate, both Treasury yields and mortgage rates will rebound somewhat. Mortgage rates are closely related to yields on long-term government debt.

The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 5.15 percent, the monthly payment for the same size loan would be $1,092.05, a savings of $150 per month for a homeowner refinancing now.

SURVEY RESULTS
30-year fixed: 5.15% -- unchanged from last week (avg. points: 0.44)
15-year fixed: 4.52% -- down from 4.55% last week (avg. points: 0.44)
5/1 ARM: 4.56% -- unchanged from last week (avg. points: 0.34)



Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/mortgagerates

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next week. More than half of the panelists, 53 percent, expect mortgage rates to remain more or less unchanged over the next week. A slightly lower percentage - 40 percent - predict an increase, while just 7 percent forecast a decline in mortgage rates over the same time period.

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Federal Home Loan Bank of Atlanta Awards $40 Million for Affordable Housing Development

/PRNewswire/ -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will award $40 million to fund 78 affordable housing projects in 10 states as part of its 2009 Affordable Housing Program (AHP) offering.

Local community developers, in partnership with FHLBank Atlanta member institutions, will use $35.8 million of the funds to buy, build, or preserve 3,384 affordable housing units in seven states within FHLBank Atlanta's district including Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, and Virginia. Partnerships in states outside of the Bank's district including California, Kentucky, and Tennessee will receive funds totaling $4.2 million to develop 513 housing units.

"For the past 20 years, FHLBank Atlanta has provided critical economic stimulus to communities through our Affordable Housing Program," said Richard A. Dorfman, FHLBank Atlanta President and Chief Executive Officer. "Our funding promotes growth and stability by revitalizing neighborhoods, creating jobs, and supporting economic development during these challenging times."

FHLBank Atlanta's AHP awards range from $50,000 to $1 million and will be made in the following states in the Bank's district:

-- Alabama $6,488,184 for 695 units
-- Florida $12,005,499 for 897 units
-- Georgia $7,856,404 for 693 units
-- Maryland $925,000 for 116 units
-- North Carolina $3,578,616 for 397 units
-- South Carolina $2,060,185 for 251 units
-- Virginia $2,855,383 for 335 units



The 2009 AHP funds will be combined with other funding sources to develop more than $514 million of affordable housing. In addition, a portion of this year's AHP is dedicated to alleviating the foreclosure crisis by supporting the reclamation and redevelopment of foreclosed properties.

AHP is a competitive funding program that helps develop owner-occupied and rental housing for very low-to-moderate income families. FHLBank Atlanta awards the funds annually to member financial institutions and their community housing partners. AHP is a component of FHLBank Atlanta's affordable housing, economic development and down-payment assistance initiatives. For the complete list of winners, visit www.fhlbatl.com/ahp.

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Murphy Named Dec Individual Agent for Newnan Coldwell Banker Bullard Realty

Bette Murphy has been named December Individual Agent Leader for the Newnan office of Coldwell Banker Bullard Realty. Johnnica Portress was No. 2 and Linda Scott and Marian Hynson were No. 3.

Murphy obtained her real estate license in 1989 and joined Coldwell Banker Bullard Realty in 2003. Since that time she has accumulated many educational credentials that include, Graduate Realtor’s Institute, Cendant Mobility Relocation Specialist, Cendant Mobility Marketing Specialist and Certified Negotiation Specialist. Her awards include life membership in Million Dollar Club and Coldwell Banker’s Diamond Society.Murphy and her husband live in Coweta County and when not selling real estate, she enjoys her three grandsons, gardening and golf.
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Landmark Civil Rights Agreement Will Increase Housing Accessibility Across Country

/PRNewswire/ -- Today, the National Fair Housing Alliance (NFHA) and its member fair housing organizations in Atlanta, Ga., Melbourne, Fla., and Napa and Marin, Calif., announced a landmark agreement with the A.G. Spanos Companies to increase housing accessibility for people with disabilities. Under the agreement, the nation's fifth largest builder of residential real estate will retrofit properties in Arizona, California, Colorado, Georgia, Florida, Kansas, Missouri, Nevada, New York, North Carolina, and Texas at an estimated cost of $7.4 million.

The agreement initiates a productive partnership between the Spanos Companies, NFHA, and its member fair housing agencies to make apartments accessible to individuals who use wheelchairs and people with limited mobility. It amicably resolves a lawsuit filed by NFHA and its members against the Spanos Companies under the federal Fair Housing Act's accessibility requirements, and covers 123 properties built since March 1991. The agreement also establishes a $4.2 million national fund to provide retrofitting grants to people with disabilities across the country.

"At our very first meeting, Michael Spanos, Executive Vice President, A.G. Spanos Companies, made it clear that he wanted to be in compliance with the Fair Housing Act," said Shanna L. Smith, President and CEO of NFHA. "Indeed, the wide-ranging relief described in this agreement is a testament to Mr. Spanos's commitment not only to comply with the Fair Housing Act but to provide comprehensive remedies guaranteed to increase the availability of accessible housing to thousands of people across the country, whether they live in Spanos-built properties or not."

The Fair Housing Act, as amended in 1988, has required since 1991 that builders, developers and architects design and construct multi-family buildings so that both apartments and common areas such as lobbies, community rooms and recreational areas are accessible to the growing number of Americans with disabilities.

During 2006, NFHA and its members examined Spanos Companies apartment units in California, Florida, and Georgia. In June 2007, NFHA, Metro Fair Housing Services of Atlanta, Ga., The Fair Housing Continuum of Melbourne, Fla., Fair Housing of Marin, Calif., and Fair Housing of Napa Valley, Calif., filed suit in federal district court in San Francisco. Michael Allen, Stephen Dane and Tom Keary of Relman & Dane, PLLC in Washington, D.C., represented the plaintiffs.

The agreement provides for the following:

Retrofit Requirements: The agreement calls for renovations in 82 buildings comprising approximately 12,300 units to make them accessible for people with disabilities. The retrofits will be completed within 36 months.

National Accessibility Fund: Another 41 buildings could not be retrofitted because of structural or topographical complications. To compensate for the lost housing opportunities for people with disabilities, Spanos generously agreed to establish the NFHA Accessibility Fund, to which the company will contribute $4.2 million over five years. NFHA will use the Fund to make grants available to homeowners and renters who require modifications or other assistance in making their homes accessible. NFHA will work with local and national organizations to secure matching funds and donated labor to be able to provide grants to the maximum number of people possible nationwide.

Local Accessibility Funds: Spanos will contribute $750,000 over three years to be used by the five plaintiffs to establish local retrofit funds. Each fair housing center will establish a program to provide grants, directly or through support organizations, to people with disabilities. In addition to the national fund, NFHA will operate a local fund for Washington, D.C., residents.

Building Accessible Housing Coalition: The agreement provides $40,000 to support the creation of an accessibility coalition to be co-chaired by NFHA and Metro Fair Housing Services in Atlanta, Ga. The coalition, including builders, architects, social services providers, medical professionals, city/county planners, fair housing practitioners, and disability advocates, will identify new construction designs and modification needs to help increase the supply of accessible housing nationwide. A report with recommendations will be released by the coalition within 18 months.

National Media Campaign: Spanos generously agreed to support NFHA's A Richer Life multi-media campaign with a $100,000 contribution. NFHA created the first national media campaign to promote inclusive communities as a proactive step to encourage neighbors to welcome people who are different from themselves because of their race, color, religion, national origin, disability, or other personal characteristic. www.aricherlife.org

Damages and Attorney Fees: The agreement also includes $950,000 in compensatory damages to the plaintiffs and $1.325 million in attorneys' fees and litigation costs. The agreement will be monitored over a five year period.

"We are so pleased that Michael Spanos agreed to support a coalition to explore new ways to assist builders and others to meet the needs of people with disabilities. It is important that everyone involved in housing have a seat at the table for this ground-breaking project - including architects, developers, builders and fair housing practitioners as well as disability advocates and agencies providing services to people with disabilities. Most importantly, this project will assist people who need and use accessible housing. Any one of us might need accessible housing during our lifetime and this coalition will look to the future and make recommendations for builders, planners and governments to increase both housing accessibility and affordability for people with disabilities."

-- Foster Corbin, Executive Director of Metro Fair Housing Services of Atlanta, Ga.

"While Mr. Spanos could have relied solely on the National Accessibility Fund to address our needs, instead he thoughtfully agreed to support our local efforts. The local accessibility fund will allow Fair Housing Napa Valley to help disabled veterans, children, and adults overcome housing barriers. Our agency is delighted to collaborate with the Senior Services Program of the Volunteer Center of Napa Valley and Disability Services & Legal Center in Napa to help fund modifications to make housing accessible for their clients. One out of five households in Napa County has at least one person who is disabled. This fund has the potential to make an enormous difference in the lives of Napa County residents."

-- Kathryn Winter, Executive Director of Fair Housing Napa Valley, Calif.

"This agreement marks a major step forward for people with disabilities and we congratulate Michael Spanos on his forward looking attitude. Fair Housing of Marin will be able to help make housing accessible for Marin and Sonoma County residents with disabilities. FHOM will work with two well-regarded disability advocacy groups in our region, Marin Center for Independent Living (MCIL) in Marin County and Disability Services and Legal Center in Sonoma County (DSLC), to administer the accessibility fund. These two groups cover an area of one million residents."

-- Nancy Kenyon, Executive Director of Fair Housing of Marin, Calif.

"This valuable contribution by Mr. Spanos to the local accessibility fund provides the opportunity for The Continuum to partner with local disability organizations to increase accessible housing throughout Central Florida. We hope to double the impact of our partnership with Spanos by requesting matching funds from local organizations and governments. The Continuum hopes this agreement will remind permitting officials and builders across Florida of their Fair Housing Act responsibilities. Building accessible housing from the start will protect the civil rights of those with disabilities and ultimately save hundreds of thousands of dollars."

-- David Baade, Executive Director of Fair Housing Continuum, Inc. of Melbourne, FL

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Nearly 200 Foreclosed Homes Head to Auction Block Throughout Southern States

/PRNewswire/ -- Foreclosures continue to dominate the nation's housing market and their discounted price tags are attracting strong interest from homebuyers. Buyers looking for great deals on homes will find them at Hudson & Marshall's auction of nearly 200 bank-owned homes January 11th-16th in cities throughout Alabama, Georgia, Tennessee, North Carolina and South Carolina.

Valued from about $14,000 to $969,000, all the homes come with insurable title, no back taxes or liens. Buyers will be required to make a cash or certified check deposit of $2,500 for each property which they are the winning bidder. Property #810 located in Braselton, Georgia is a six bedroom, six bath home in move-in ready condition valued at $969,000. Another stunning property being auctioned is property #253, a four bedroom, four bath home in Hilton Head, SC last listed at $479,900.

"As the nation's housing market slowly see-saws back toward recovery, homebuyers expect to purchase homes at significant discounts and are often bypassing traditional homes in favor of foreclosures," said Dave Webb, principal Hudson & Marshall. "Buyers particularly like purchasing bank-owned homes through auction because the process is quick and offers a wide selection of choices," added Webb.

According to the National Association of Realtors, both investors and first-time homebuyers are now competing for distressed properties. In November, NAR reported distressed sales increased to 33% of all home sales.

All homes being auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Properties can be viewed by contacting listing agents to schedule an appointment. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Hudson & Marshall will auction the homes on the following dates:

January 11th - Savannah (6 homes) at 7:00 pm -- Holiday Inn Savannah Airport

January 12th - Hilton Head, NC (4 homes) at 11:00 am -- Holiday Inn Hilton Head Island

January 12th - Goldsboro, NC (12 homes) at 7:00 pm -- Holiday Inn Express Goldsboro

January 12th - Wilmington, NC (5 homes) at 1:00 pm -- Hilton Garden Inn Wilmington Mayfaire Town Center

January 13th - Macon (6 homes) at 7:00 pm -- Homewood Suites-Macon North

January 13th - Charlotte (16 homes) at 7:00 pm -- Doubletree Hotel Charlotte Airport

January 13th - Greensboro (12 homes) at 1:00 pm -- Hilton Garden Inn Greensboro

January 13th - Myrtle Beach, SC (6 homes) at 11:00 am -- Hilton Garden Inn Myrtle Beach/Coastal Mall

January 13th - Nashville (8 homes) at 7:00 pm -- Holiday Inn Express-Nashville Airport

January 13th - Memphis (6 homes) at 11:00 am -- Hampton Inn & Suites Memphis Shady Grove

January 13th - Montgomery (8 homes) at 7:00 pm -- Hilton Garden Inn-Montgomery East

January 14th - Birmingham (9 homes) at 7:00 pm -- Hilton Garden Inn Birmingham/Lakeshore Drive

January 14th - Greenville (7 homes) at 7:00 pm -- Homewood Suites Greenville

January 14th - Asheville (9 homes) at 7:00 pm -- Four Points by Sheraton Asheville Downtown

January 14th - Knoxville (14 homes) at 7:00 pm -- Holiday Inn Knoxville-West

January 15th - Chattanooga (8 homes) at 1:00 pm -- Hampton Inn Chattanooga
January 16th - Atlanta (53 homes) at 1:00 pm -- Atlanta Marriott Northwest


Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers typically respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 80,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc is the most experienced, trusted leader in the REO auction industry. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2010.

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US Department of Housing and Urban Development Releases Latest Version of Shopping For Your Home Loan

/PRNewswire/ -- In its first revision in over 10 years, the US Department of Housing and Urban Development (HUD) advises home buyers that it is their responsibility to search for a real estate agent that will represent their interests. In Shopping for Your Home Loan - HUD's Settlement Cost Booklet, HUD states: "If you want someone to represent only your interests, consider hiring an 'exclusive buyer's agent,' who will be working for you."

The National Association of Exclusive Buyers Agents (NAEBA) views this as an important element of the new era of home buying.

"'We are pleased to see that the wisdom of having someone in your corner and on your side is being conveyed to Buyers by HUD. Because most real estate agents represent Sellers, HUD emphasizes, and the National Association of Exclusive Buyers Agents stresses, that it is a Buyer's responsibility to find an agent who will represent their best interests in their real estate transaction," said Benjamin Clark, 2010 President of NAEBA.

Exclusive Buyer Agents (EBA) represent buyers and their interests in real estate transactions. They not only work to get the best price and terms for their buyer clients, they also serve as diligent home buying guides, consultants, and often coaches to ensure that clients achieve their desired outcomes in an efficient way. They offer full buyer representation without the potential for the conflicts of interest that occur when the company representing the buyer also represents the seller. The concept of a buyer's agent arose in the mid-1990s as real estate buyers sought to have agents that would represent only their interests and level a playing field that previously favored sellers.

Working with an EBA offers more than a dedicated representative. Data validates that buyers actually get better results. An EBA promises to work toward a better price and terms for buyers. A study conducted by Chandler & Chandler confirms that property purchased through an alliance with an EBA shows a 67% greater appreciation in value. Additionally, a survey conducted by the National Association of Exclusive Buyers Agents (NAEBA) found that among survey respondents, there were only 15 foreclosures out of 1,849 closings. That represents a foreclosure rate of just 0.8%, compared to the nationwide rate of 1.84% in 2008.

NAEBA views HUD's advice to consider an exclusive buyer agent as very timely given current market conditions. Clark agrees, "We are encouraged by an increased movement among consumers to seek out Exclusive Buyer Agents. Working on behalf of buyers is extremely rewarding. Consumers who hire an Exclusive Buyer Agent find that the whole process is more enjoyable because of the incredible trust between the buyer and their agent that doesn't always exist in the traditional buyer/agent relationship."

You can download a free copy of the new HUD booklet at: http://portal.hud.gov/portal/page/portal/HUD/documents/Settlement%20Booklet%20 December%2015%20REVISED.pdf

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