Market Conditions and Pricing Create Opportunity for First-Time Buyers at Brookfield Homes in Ontario - msnbc.com

ONTARIO, CA — All 139 garden court townhomes and condominiums in the stylish neighborhood of Belcourt at Edenglen in Ontario are now home to residents like first-time home buyer Claire Peng, who felt the time was right for her, and Brookfield Homes presented her with the right place to live for style, warmth and value.

Peng is not alone. The Commerce Department recently stated that sales of new homes increased 7.6 percent in May from April, the best pace since April 2010, which was the last month that buyers could qualify for a federal home-buying tax credit. This increase follows other signs that show the housing market is improving with mortgage interest rates that are the lowest on record.

"Now that I am living on my own, this is a big change for me," Claire explained, "and Brookfield Homes has made it both affordable and exciting."

Brookfield made it easy for Claire to make new friends by designing a neighborhood with a pedestrian-friendly environment, where wide parkways and sidewalks connect, and the community Clubhouse offers a host of recreational opportunities.

Claire loves the features of her new home, including beautiful wood flooring, a spare bedroom for guests and a spacious master bedroom that includes a large walk-in closet, dual sinks and a separate tub and shower.

Even though Belcourt is sold out, there are still opportunities to share the joys of Edenglen at the community's newest neighborhood, GreenDoor, which offers new single-family detached homes from the low $300,000s.

GreenDoor reconnects residents with everything that matters: peace and quiet, family and friends, home. Plus, technologically advanced and energy-efficient features, including solar panels, extra garage space and up to three-car flex parking, and comfortable yards for entertaining and outdoor living year-round.

All of those advantages distinguish four single-family home designs with large, open floor plans that create the perfect setting for family activities and festive entertaining. Ranging from approximately 1,710 to 2,054 square feet, the homes encompass three to four bedrooms and up to three baths.

For more information about GreenDoor at Edenglen, visit the sales office at 3228 S. Edenglen Avenue in Ontario or call 800-599-3906, or visit www.LiveGreenDoor.com.

Brookfield Homes, a member of Brookfield Residential, is committed to being more than a homebuilder. We are a premier lifestyle provider comprised of a dedicated and knowledgeable team of professionals with the passion and in-depth experience to craft new homes and neighborhoods that speak to the aspirations of homebuyers in every stage of life. Over the years, Brookfield Homes has been consistently acknowledged as a leader in our industry with an exceptional reputation for quality, design, and customer service. Brookfield Residential, publicly traded on the New York Stock Exchange, is dedicated to creating great places to live and is a leading North American land and housing company. Active in ten major markets across the United States and Canada, Brookfield draws strength from geographic diversity and affiliation with community development and homebuilding operations across the globe. Brookfield Homes Los Angeles is independently and locally operated in the Greater Los Angeles, Orange and San Bernardino Counties. Visit our corporate web site at www.BrookfieldLA.com.

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Torched Albany homes become local business interests - Daily Journal of Commerce

The historic, Queen Anne-style home at 732 S.W. Walnut St. in Albany was allegedly torched by arsonists in a 2010 spree that destroyed nine vacant homes. (Photo courtesy of Oregon Council Against Arson)

Albany residents were left reeling after a series of arsons in 2010 destroyed nine vacant homes, but now contractors and local business owners are turning the eyesores into business opportunities.

One home that burned down on Southeast Geary Street was demolished; the site will soon house a new pizza restaurant. Several other burned-out residences are either being repaired or were torn down and rebuilt.

The city of Albany is seeking to demolish three remaining scorched houses, and contractors are already expressing interest in bidding for those contracts.

“Right now we’ve already had a lot of calls from contractors interested in bidding on those (demolitions),” said Melanie Adams, a building official with the city. “I’ve started a list of people who want to be notified, but we haven’t begun that process yet.”

The city already has permission to demolish two of the structures, one on Southeast Sixth Avenue and one on Southeast Jefferson Court. Both of the homes were already foreclosed when they burned, and the city has received permission to remedy dangerous conditions by either fixing the properties or demolishing them.

City staffers are prepared to move forward, but they are waiting on a judge sign off on a third home – on Northeast 13th Avenue – before seeking bids. Complications with the property owner’s insurance company have caused some delays, and Adams said the city is not willing to wait much longer.

“We can either let the properties linger and be a hazard to our community or we can do something about it,” she said.

If a resolution on the third property doesn’t seem likely by the end of January, Adams said the city will likely move forward with the demolitions of the other two and continue to wait for the other.

Meanwhile, the first arson site is being converted to commercial use. Tom and Linda Kolvedt purchased the lot and are now preparing for the grand opening of their new Little Caesars Pizza branch.

The vacant home at 1240 Geary St. in Albany burned on Oct. 22, 2010. Tom and Linda Koltvedt purchased the lot to hold a new building for their Little Caesars Pizza franchise. (Photo courtesy of Oregon Council Against Arson)

“The existing owner was reluctant to spend the money to tear it down, but the property around it was starting to develop, so we went for it,” Tom Kolvedt said. “We’ll be right across from the mall; it’s a prime location.”

The Kolvedts will close their Little Caesars location on the corner of Southeast Hill Street and Queen Avenue and move their staff to the new 1,500-square-foot restaurant.

“The community is happy to see that old house come down and something new going in,” Kolvedt said. “That house was sitting there for a while.”

Local contractors are also eager to see the remaining afflicted properties come down.

Layne Westberg, owner of Northwest Custom Construction, is aiming to finish construction on the new Little Caesars by the end of January and said he is waiting for more job opportunities.

“I don’t know of any plans for the other burned-out homes, but we’d certainly like to be involved if we could,” he said.

After the last few charred residences are demolished, the city will seek reimbursement from the property owners. If they fail to pay, the city will then place liens on the properties.

“The city as a whole has worked on this for a long time,” Adams said. “Ideally we’d like to wrap up all three together because it saves the city money.”

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