Cambridge Massachusetts Building Expert Directory

Homebuilder Predictions for Tallahassee

October 10, 2013 — CDJ STAFF
The cost of putting up a new home in Tallahassee has risen, but Joe Manausa thinks that builders might be putting up homes that will cost more than home buyers are able to pay. He notes that permits and sales are up, but numbers are still well below those in 2006. Mr. Manusa thinks that Tallahassee could face “a need (demand) for homes priced below $300,000, but a glut of supply for those priced above $300,000.” He says that home builders “need to target construction opportunities below that price point.” He notes that average price of new construction is $272,000, but resales are going for $161,000, which puts quite a premium on a new home. Read the court decision
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Million-Dollar U.S. Housing Loans Surge to Record Level

July 30, 2014 — Alexis Leondis – Bloomberg
Banks are handing out mortgages of as much as $10 million to the wealthy in record numbers while first-time homebuyers struggle to get loans. Erin Gorman, managing director at Bank of New York Mellon Corp., said she’s fielding more requests for home loans of at least $2 million than ever before. She recently provided a mortgage of more than $6 million for a client’s purchase of a second property in Colorado. “These high-net-worth borrowers do act differently than first-time buyers, who borrow because they have to,” said Gorman, who serves as the national mortgage sales director at Bank of New York Mellon’s wealth management group based in Boston. “High-net-worth borrowers don’t have to borrow. They choose to, so they’re very strategic about what, why, and when they borrow.” Read the court decision
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Reprinted courtesy of Alexis Leondis, Bloomberg
Ms. Leondis may be contacted at aleondis@bloomberg.net

Locating Construction Equipment with IoT and Mobile Technology

May 13, 2019 — Aarni Heiskanen - AEC Business
It can take hours, or even days, to find a specific scissor lift on a large construction site – multiply that with hundreds of machines on the site and, then, you grasp the scale of the dilemma. Three companies joined forces to test an IoT solution that could fix the problem, cost-efficiently. Ramirent is a construction equipment rental and service firm that operates in nine European countries. It uses digital tools and services to add value to its customers and improve the efficiency of construction operations. In November 2018, Ramirent, SRV, and Kaltiot completed a test on promising technology that is used to locate construction equipment indoors. The experiment took place in Helsinki and was partly funded by the national KIRA-digi digitalization project. Setting up the Test Tomi Anttila, Development Manager at Ramirent Finland Oy, explained that they chose scissor lifts as a test subject for a particular reason: “They are an essential tool in construction. Whenever you have to work flexibly above the floor level – doing HVACE installations, for example – you need a movable lift. On our test site, REDI, there were over 150 lifts at any moment.” Read the court decision
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Reprinted courtesy of Aarni Heiskanen, AEC Business
Mr. Heiskanen may be contacted at aec-business@aepartners.fi

Determination That Title Insurer Did Not Act in Bad Faith Vacated and Remanded

March 30, 2016 — Tred R. Eyerly – Insurance Law Hawaii
In an important decision regarding bad faith and the application of the work product doctrine to work performed by an insurer's in-house counsel, the Hawaii Supreme Court vacated the Intermediate Court of Appeals's upholding the trial court's award of summary judgment to a title insurer on the issue of bad faith. Anastasi v. Fid. Nat'l Title Ins. Co., 2016 Haw. LEXIS 30 (Feb. 4. 2016). Llyod Anastasi loaned Alajos Nagy $2.4 million. The loan was secured by a mortgage on property. After Nagy executed the $2.4 million mortgage, a warranty deed was signed by Paul Stickney and purported to deed the property from Stickney to Nagy in exchange for $10 in consideration. Fidelity issued Anastasi a title insurance policy on the property in the amount of $2.4 million. The policy promised to provide a defense where a third party asserted a claims adverse to the interest of the insured. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Insurance Law Hawaii
Mr. Eyerly may be contacted at te@hawaiilawyer.com

Sales of Existing U.S. Homes Decrease on Fewer Investors

September 24, 2014 — Jeanna Smialek – Bloomberg
Purchases of previously owned U.S. homes unexpectedly declined in August for the first time in five months as investors retreated from the market. Existing home sales dropped 1.8 percent to a 5.05 million annual pace, from a revised 5.14 million pace in July, the National Association of Realtors reported today in Washington. The median forecast of 72 economists in a Bloomberg survey called for 5.2 million. The share of properties sold to investors was the lowest in almost five years. As wage gains are slow to materialize and credit conditions remain tight, it has been difficult for first-time homebuyers to enter the housing market to make up the decrease in investor activity. Employment growth and easier lending rules could help would-be buyers to feel more secure in taking the plunge into homeownership. Read the court decision
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Reprinted courtesy of Jeanna Smialek, Bloomberg
Ms. Smialek may be contacted at jsmialek1@bloomberg.net

Concerns About On-the-job Safety Persist

August 13, 2019 — Joanna Masterson - Construction Executive
Nearly 40% of workers are more concerned with on-the-job safety this year than they were last year, according to a 360training.com survey of a thousand people across several manual labor-intensive industries. Additionally, a quarter of workers worry every day about getting injured because of their job. That number goes up to 27% for workers in the construction and oil industries. Slips, trips and falls were the top workplace safety concern (36%), followed by electrical hazards (13%), ergonomic problems (9%), vehicle/equipment accidents (7%) and falling objects (6%). For the construction industry specifically, electrical hazards were identified as the leading cause of concern. Reprinted courtesy of Joanna Masterson, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Alert: AAA Construction Industry Rules Update

August 26, 2015 — Christopher G. Hill – Construction Law Musings
The American Arbitration Association has made some needed updates to their Construction Industry Arbitration and Mediation Rules, effective July 1, 2015. Among the changes listed at their website are:

A mediation step for all cases with claims of $100,000 or more (subject to the ability of any party to opt out).
Consolidation and joinder time frames and filing requirements to streamline these increasingly involved issues in construction arbitrations.
New preliminary hearing rules to provide more structure and organization to get the arbitration process on the right track from the beginning.
Information exchange measures to give arbitrators a greater degree of control to limit the exchange of information, including electronic documents.

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Reprinted courtesy of Christopher G. Hill, Law Office of Christopher G. Hill, PC
Mr. Hill may be contacted at chrisghill@constructionlawva.com

New York Court of Appeals Addresses Choice of Law Challenges

August 20, 2018 — Grace V. Hebbel - Saxe Doernberger & Vita, P.C.
In June, the New York Court of Appeals examined the application of a New York Choice of Law provision in a contract – a determinative issue for the case. In Ontario, Inc. v. Samsung C&T Corp., the issue was whether the plaintiff’s claims were subject to Ontario, Canada’s 2-year statute of limitations or New York’s 6-year statute of limitations for breach of contract where the contract contained a broad New York Choice of Law provision. The court found that pursuant to New York’s borrowing statute, Ontario’s more restrictive statute of limitations applied. The action was dismissed as time-barred, serving as a harsh reminder of the potential effects of choice of law and limitations periods. The suit arose out of the following facts. In 2008, an Ontario renewable energy developer, SkyPower Corp. (“SkyPower”), entered into a Non-Disclosure Agreement (NDA) with the defendants which allowed the defendants to review SkyPower’s confidential and proprietary information. The review was conditioned on restricted disclosure and the requirement that the information would be destroyed after review. Read the court decision
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Reprinted courtesy of Grace V. Hebbel, Saxe Doernberger & Vita, P.C.
Ms. Hebbel may be contacted at gvh@sdvlaw.com

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