Fairfield Connecticut Building Expert Directory

The Riskiest Housing Markets in the U.S.

June 26, 2014 — Ben Steverman – Bloomberg
The real estate rollercoaster ride for U.S. homeowners isn't new. Some markets had even rockier rides in the early 1980s or '90s. When so much wealth is tied up in one asset, the risk -- or stability -- of a local market can mean a lot to a homeowner. (See “The Hidden Risks in Your Housing Market” for more on this.)   Bloomberg.com asked real estate website Zillow.com to help us figure out which U.S. markets have been the riskiest over the last 35 years. Our measure of risk: Assuming buyers held on to their homes for five years before selling, what was their chance of suffering a loss? As a secondary criterion, we compared the worst annual losses homeowners in these markets have experienced since 1979. Read the court decision
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Reprinted courtesy of Ben Steverman, Bloomberg
Mr. Steverman may be contacted at bsteverman@bloomberg.net

Damp Weather Not Good for Wood

May 10, 2013 — CDJ STAFF
Cold and wet weather was not bad news for the lumber industry. The weather in the first quarter set or tied records for both precipitation and low temperatures. Not good weather for building. Construction was delayed as a result, leading to less call for lumber. In response, there was a 15 percent drop in lumber futures, continuing a decline. Read the court decision
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DC Wins Largest-Ever Civil Penalty in US Housing Discrimination Suit

November 15, 2022 — Kriston Capps - Bloomberg
Three real estate companies operating in Washington, DC, will pay record-breaking penalties in a suit brought by the city for illegally discriminating against tenants who use Section 8 vouchers and other forms of housing assistance. The attorney general for the District of Columbia, Karl Racine, announced on Thursday a settlement for $10 million. While fair housing cases involving lenders have resulted in larger compensation payouts, $10 million is the largest civil penalty ever levied in a housing discrimination case. In 2020, the city sued several entities — DARO Management Services, DARO Realty and New York-based parent company Infinity Real Estate, as well as several executives — over housing practices in the District. DARO Management operates and rents some 1,200 residential units in more than a dozen apartment buildings spread across Wards 1, 2 and 3, which include DC’s more affluent areas. (DARO Realty owns the properties, DARO Management operates them, and Infinity owns both affiliates.) Read the court decision
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Reprinted courtesy of Kriston Capps, Bloomberg

Condo Owners Suing Bank for Failing to Disclose Defects

January 17, 2014 — Beverley BevenFlorez-CDJ STAFF
The Option Owners Association Inc., Condo Owners in Lincoln, Nebraska, filed suit against Security First Bank, “alleging the bank failed to disclose ‘hidden defects,’” reported the Lincoln Journal Star. Alleged defects include defective siding, improperly installed siding, and defective flashing. The condo owners are seeking at least $644,000 which they claim is the “fair market value of the repairs needed to fix the alleged construction defects.” When the Lincoln Journal Star asked Jim Wefso, general counsel for Security First Bank, to comment, he stated, “The bank doesn't feel it has any liability in the case.” Read the court decision
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Balestreri Potocki & Holmes Attorneys Named 2020 Super Lawyers and Rising Star

July 06, 2020 — Balestreri Potocki & Holmes
The law firm of Balestreri Potocki & Holmes is pleased to announce that Shareholders Thomas A. Balestreri, Jr. and Joseph P. Potocki have been selected as 2020 Super Lawyers and Associate Robin H. Smith has been named a 2020 Rising Star. Each year no more than 5 percent of the lawyers in the state are selected to receive the honor of being included in the Super Lawyers list and no more than 2.5 percent of the lawyers are selected to the Rising Stars list. Balestreri has been selected to the Super Lawyers list in the areas of Construction Litigation. Balestreri has dedicated most of his 30 plus years in practice to the representation of developers, property owners, and general contractors in litigation, negotiations, and risk management. A seasoned trial lawyer, he has tried a number of high exposure cases with great success. Selected as a Super Lawyer in the area of Construction Litigation, Potocki’s practice concentrates on litigation, transactional matters and construction contract drafting and negotiation. His extensive litigation experience involves high-value disputes relating to a wide variety of issues in the real estate, business and construction arenas. Smith has been named a Rising Star by Super Lawyers in the area of Civil Litigation. In her varied litigation practice, Smith represents individuals and business entities in complex catastrophic personal injury matters. She also represents employers in labor and employment matters and a variety of businesses, including automobile dealers, in breach of contract, unfair competition, unfair business practices, defamation, and consumer claims. Super Lawyers, a Thompson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys. Balestreri Potocki & Holmes is headquartered in San Diego, California. The firm provides comprehensive counsel to large and small companies across a wide range of established and emerging industries. Balestreri Potocki & Holmes is located in downtown San Diego at 401 B Street, Suite 1470. More information about the firm can be found at: www.bph-law.com. Read the court decision
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Reprinted courtesy of Balestreri Potocki & Holmes

Human Eye Resolution Virtual Reality for AEC

July 02, 2018 — Aarni Heiskanen - AEC Business
Virtual reality opens new perspectives for communication and customer involvement in construction. Sweco, Varjo, and Teatime Research are together exploring the possibilities of VR using state-of-the-art technology. “I think that the use of VR in construction is still at a visionary stage and useful practical applications are rare,” says Niina Jaatinen, Service Manager at Sweco. “When we learned about Varjo’s exceptional technology, we thought that maybe it’s now time to start developing the really useful apps customers would yearn for.” Read the court decision
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Reprinted courtesy of Aarni Heiskanen, AEC Business
Mr. Heiskanen may be contacted at info@aepartners.fi

Potential Problems with Cases Involving One Owner and Multiple Contractors

January 27, 2014 — Beverley BevenFlorez-CDJ STAFF
According to Matthew Devries’ blog, Best Practices Construction Law, problems can arise in a case with one owner and multiple contractors: “Increasingly, two or more contractors may each have a separate contract with the owner for different portions of the work on a single project.” The problems occur when contractor responsibilities or storage sites become entangled, “for example, from one contractor’s storage of materials on a site where the other has work to perform, or from one contractor’s failure to progress with work that is preliminary to the other’s work.” Devries adds that in “addition to claims against the other contractor, claims may also be made against the owner for failure to coordinate the work.” Read the court decision
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Housing Starts in U.S. Drop to Lowest Level in Three Months

February 23, 2016 — Michelle Jamrisko – Bloomberg
New-home construction in the U.S. unexpectedly cooled in January, indicating there is a limit to how much gains in residential real estate will boost growth at the start of 2016. Housing starts dropped 3.8 percent to a 1.1 million annualized rate, the weakest in three months, from a 1.14 million pace the prior month, a Commerce Department report showed Wednesday in Washington. The median forecast of 76 economists surveyed by Bloomberg was 1.17 million. Permits, a proxy for future construction, were little changed. Read the court decision
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Reprinted courtesy of Michelle Jamrisko, Bloomberg

FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES