Seattle Washington Building Expert Directory

Real Estate & Construction News Roundup (7/31/24) – International Homebuying Shrinks Commercial Real Estate Focus on Sustainability, and U.S. Banks Boost Provisions for Credit Losses

September 09, 2024 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
In our latest roundup, mortgage rates drop to lowest levels since March, hotel construction activity highest since February 2023, Biden administration calls for legislation regarding property owners, and more!

International buyers bought 54,300 existing homes from April 2023 to March 2024 – a 36% drop from the year before. (Diana Olick, CNBC)
The Biden administration called on Congress to pass legislation penalizing property owners for rent increases above a certain level as part of its plan to lower housing costs through a series of administrative actions. (Mary Salmonsen, Multifamily Dive)
U.S. banks have boosted their provisions for credit losses as deteriorating commercial real estate (CRE) loans and high interest rates fuel fears of defaults. (Manya Saini, Niket Nishant and Matt Tracy, Reuters)

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Reprinted courtesy of Pillsbury's Construction & Real Estate Law Team

Blackstone Said in $1.7 Billion Deal to Buy Apartments

January 21, 2015 — Hui-yong Yu – Bloomberg
Blackstone Group LP (BX), the biggest owner of U.S. single-family houses, agreed to buy 36 apartment properties across the country for about $1.7 billion as it expands its rental business, according to two people with knowledge of the transaction. The low-rise, garden-style properties are being sold by Praedium Group, a New York-based real estate investment firm, and contain about 11,000 apartments, said the people, who asked not to be identified because the deal is private. About half of the buildings are in California, Washington, D.C., and Boston, with the rest located around the U.S., they said. Read the court decision
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Reprinted courtesy of Hui-yong Yu, Bloomberg
Hui-yong Yu may be contacted at hyu@bloomberg.net

Insurer's Motion for Summary Judgment to Dispose of Hail Damage Claim Fails

November 25, 2024 — Tred R. Eyerly - Insurance Law Hawaii
The court denied the insurer's motion for summary judgment seeking to dismiss the insured's complaint requesting coverage for hail damage and a claim for bad faith. Rodriquez v. State Farm Lloyds, 2024 U.S. Dist. LEXIS 160007 (W.D. Tex. Sept. 5, 2024). Mr. Rodriquez sought coverage under his homeowners policy after a hail and wind storm damaged his roof. After inspection, State Farm agreed that some minimal loss caused by hail was covered, but determined that the covered loss was less than the amount of the deductible. State Farm further determined that any hail damage to the roof was excluded by an endorsement, Exclusion of Cosmetic Loss to Metal Roof Coverings Caused by Hail. State Farm also determined that some damage was caused by previous faulty workmanship or wear and tear, both of which were excluded from coverage. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Damon Key Leong Kupchak Hastert
Mr. Eyerly may be contacted at te@hawaiilawyer.com

Colorado Legislative Update: HB 20-1155, HB 20-1290, and HB 20-1348

August 03, 2020 — Jean Meyer - Colorado Construction Litigation
This year’s Colorado State Legislative session was cut short. However, in the period of time Colorado’s Legislature was in session, it passed and evaluated important legislation for Colorado homebuilders. This article highlights relevant legislation for Colorado homebuilders. 1. HB 20-1155 This Bill creates new requirements on new homebuilders to offer renewable energy systems to the buyer of a new home. Specifically, the Bill requires homebuilders to offer each of the following:

A solar panel system, a solar thermal system, or both;
Prewiring or pre-plumbing for the above solar systems; and,
A chase or conduit for future installation of such systems.

The Bill further requires Colorado homebuilders to offer homebuyers one of the following:

An electric vehicle charging system;
Prewiring for the future installation for such a system; or,
A plug-in receptacle in a place accessible to a vehicle parking area.

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Reprinted courtesy of Jean Meyer, Higgins, Hopkins, McLain & Roswell, LLC
Mr. Meyer may be contacted at meyer@hhmrlaw.com

Morrison Bridge Allegedly Crumbling

February 05, 2015 — Beverley BevenFlorez-CDJ STAFF
The Portland Mercury reported that the Portland, Oregon Morrison Bridge’s structure is breaking into pieces. "The bridge is crumbling," Joel Mullin, attorney from Stoel Rives representing the county told a Multnomah County judge, according to the Portland Mercury. "The deterioration has accelerated more than anticipated." Newly released documents seem to imply that the bridge “project was doomed well before it started, and county officials should have known it,” the Portland Mercury reported. Read the court decision
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A Look at Trending Legislative Changes Impacting Workers' Comp

February 26, 2024 — Rosanna Shamash - Construction Executive
The tides are shifting in the construction industry when it comes to legal matters—and business owners could feel the brunt of it. Recent legislative changes in the state of New York could signal how workers’ compensation cases move forward across the country and impact business owners in the space. Arguably, New York has historically laid the groundwork for workers’ compensation law in numerous other states. Now, we’re seeing a clear shift in favor of workers with some of the recent legislative changes. Owners, operators and executives in the construction space have increasingly found themselves facing costly claims that in years prior carried a smaller dollar value and were largely viewed as inconsequential. So, what’s the best way for business owners in the construction industry to protect their businesses for the future? Start by gaining a basic understanding of changes in the legal landscape, by securing defense attorneys who know the construction space and by taking steps to protect your business before an incident happens. Reprinted courtesy of Rosanna Shamash, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Calling the Shots

May 03, 2021 — Construction Executive
As of 2019, women accounted for 10% of the total construction workforce. That’s 1.2 million women in the field, sculpting the built environment and calling the shots. A smaller percentage of the industry’s population does not mean less ability to achieve success. According to The National Association of Women in Construction, 44% of women in construction serve in a professional and management capacity. As the pandemic lingers on, sourcing qualified candidates is becoming more difficult, and finding nuanced methods of retaining valuable employees remains at the forefront of modern business. One estimate cites a loss of 600,000 women from the overall U.S. workforce in September 2020. However, data suggest that construction employment for women has remained steady, compared with struggling sectors such as retail and hospitality. Plus, salary disparities are becoming less prominent in the construction sector where, according to NAWIC, women earn 99.1% of what men make, and the female population has seen steady growth since 2012. Reprinted courtesy of Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Construction Defect Litigation in Nevada Called "Out of Control"

February 04, 2013 — CDJ STAFF
KXNT Las Vegas's Trevor Smith reports that Las Vegas alone has more than 500 pending construction defect cases. The issue of construction defects in Nevada will be taken up by the Nevada Legislature. Smith spoke with Mike Dillon, the executive director of the Builders Association of Northern Nevada. BANN is supporting legislation that Dillon says will "protect homeowners and secondly it's going to put people back to work." Dillon noted that "construction is the second largest industry in the state." Dillon attributed some of the construction defect litigation to the state's building codes. Read the court decision
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