MONDAY, SEPTEMBER 20, 2010
KLMNO
Expected rise in home sales may show a stabilizing market
BY COURTNEY SCHLISSERMAN Home sales probably increased
in August, a sign the U.S. real estate market is stabilizing after theexpirationofataxcreditmight have caused demand to plunge, economists said before reports on thehousingmarket thisweek. Purchases ofnewandprevious-
lyownedhomesrose7.1percent, to a combined 4.395 million annual pace, according to the median forecast inaBloombergNews sur- vey. A separate report could show orders for long-lasting goods, ex- cluding transportation equip- ment, reboundedlastmonth. “Housing is in a fragile bottom-
ing process,” said Aaron Smith, a senior economist atMoody’s Ana- lytics inWest Chester, Pa. Project- ed gains in home sales and dura- ble goods are “consistentwith sta- bilizing growth, albeit it at a slow- er” pace than earlier this year, he said. Builders such as Hovnanian
Enterprises face ahousingmarket depressed by unemployment close to 10percent andrising fore- closures, making it difficult for mortgage rates near record lows to stoke demand. Combined with growth inmanufacturing, the fig- ures underscore the Federal Re- serve’s view that the economy, whiledecelerating,will avoidslip- ping back into a recession. Fed Chairman Ben S. Bernanke
andhis fellowU.S. centralbankers are tomeet Tuesday to determine whether the economy needs addi- tional stimulus. The Fed’s bench- mark interest rate is already in a range from zero to 0.25 percent, where it has been since 2008. Economists
surveyed by
Bloomberg this month forecast that the Fed’s OpenMarket Com- mittee will keep the rate un- changeduntil latenext year. The central bank said in its
Beige Book survey of regional Fed banks thismonth that there were “widespread signs of a decelera- tion” inthe economyfrommid-Ju- lythroughtheendofAugust.Most areasof theUnitedStatesreported “verylowordeclininghomesales.” Sales of previously owned
homes rose to a 4.1million annual rate in August froma 3.83million pace, according to themedian es- timate of economists ahead of the National Association of Realtors’ report on Thursday in Washing- ton. The 7.1 percent gain would follow the record 27 percent plunge inJuly. The next day, the Commerce
Department will release the new- home sales figures. The median forecast calls for purchases to rise to a 295,000 pace, up 6.9 percent fromamonthearlier. Existing-home sales account
for more than 80 percent of the market and are counted when a deal is closed.New-home sales are recorded when a contract is signed. The government’s credit of as
much as $8,000 for first-time home buyers required contracts be signed by April 30. The credit provided temporary relief for the industry that precipitated the worst recessionsince the 1930s. The end of that credit, along
with joblessness and sagging con- sumer confidence,promptedade- cline in orders at Hovnanian, the largest home builder in New Jer- sey said on Sept 1. The company said net orders dropped 37 per- cent in the quarter ended July 31 froma year earlier. “Job creation is the key to a housing recovery, which makes it
APPOINTMENTS
Companies Engineering Services Network
of Arlington named Thomas Lloyd manager for its veteran affairs program. Cognosante ofMcLean named
ThomasS.Stepka, former senior executive of finance at Affiliated Computer Services, chief admin- istrative and financial officer. ServInt of McLean named
Mike Witty director of network compliance. CSC of Falls Church named
Mark Rasch director of cyberse- curity and privacy consulting for its North American public sector business unit. Discovery Studios of Silver
Spring named Jocelyn Shearer vice president of footage sales. MetropolitanGroup of theDis-
trict named Byron Johnson se- nior communication director. National Journal Group of the
District named Terence Samuel managing editor of congressional coverage. Tritus Technologies of Gaines-
ville named C.J. Staton executive vice president and director of business development. Citizant of Chantilly named
Paul Bize, former head of the security and intelligence sales organization for HP Enterprise Services, senior vice president of sales andmarketing. Helios HR of Reston named
Dolores Wilverding managing director of its consulting prac- tice. Discovery Communications of
Silver Spring named Meg Lowe, former senior vice president of content distribution andmarket- ing for MTV Networks, senior vice president for domestic dis- tribution.
Associations/ nonprofits
The Association for Communi-
ty Affiliated Plans of the District named AndreaMaresca director ofMedicaid policy. The Wilderness Society of the
District named Melanie Beller vice president for public policy. The Hispanic Technology and
Telecommunications Partner- ship of the District named Jason Llorenz, former senior policy ad- viser to the National Hispanic Caucus of State Legislators, exec- utive director.
Education Georgetown University Hospi-
tal of the District namedMary K. Coyle vice president for philan- thropy.
Legal BrinksHoferGilson&Lione of
the District named Lyle Vander Schaaf, former counsel at the U.S. International Trade Com- mission,managing partner. Ballard Spahr of the District
named Mercedes K. Tunstall to its consumer financial services group. WilliamsMullenof theDistrict
named William V. Brierre Jr. director of government affairs.
Haynes and Boone of the Dis-
trict named Kyle Musgrove and Michael Shen partners in the intellectual property litigation practice. Dow Llohnes of the District
named Greg Ferenbach, former senior vice president for public policy and general counsel of Strayer Education, member in the higher education practice. Chlopak, Leonard, Schechter
& Associates of the District named Jonathan Prince, former deputy assistant secretary of state in the Obama administra- tion, partner.
Send information about promotions, appointments and personnel moves in the Washington area to Appointments, Business News, The Washington Post, 1150 15th St. NW, Washington, D.C. 20071-5302, or to
appointments@washpost.com.
Albemarle Brink’s Chindex International Corporate Office Properties Trust
EZ SU
Washington Business A11 INSIDERS
Trading as reported by companies’ directors, presidents, chief financial officers, general counsel, chief executive officers, chairmen and other officers, or by beneficial owners of more than 10 percent of a company’s stock.
Company Advisory Board Insider
Sanjeev K. Bansal Martin D. Coulter
Robert W. Musslewhite Mark R. Neaman Leon D. Shapiro
Leanne M. Zumwalt Mark C. Rohr Robert J. Strang Roberta Lipson
Randall M. Griffin Karen M. Singer Kenneth D. Wethe
Eagle Bancorp Marriott International Micros Systems WILFREDO LEE/ASSOCIATED PRESS
ABloomberg survey showed that purchases of newand previously homes rose 7.1 percent in August, after dropping 27 percent in July.
difficult to predict how improve- ments in the economy and hous- ingmarket play out,” chief execu- tiveAraHovnaniansaid. Another reportonhousing,due
Tuesday from the Commerce De- partment, will show that starts of homes rose to a 550,000 annual rate in August, from 546,000 a month earlier, according to the medianforecast intheBloomberg survey. Builders and sellers are com-
peting with rising foreclosures, which means homes stay on the market longer and prices are re- strained.Home seizures reacheda record for the third time in five months inAugust,RealtyTrac, the forclosure-listing company, said lastThursday. The weakness in housing is
making the economymoredepen- dent on gains in manufacturing. The Commerce Department is scheduled to release the durable goods report on Friday. Bookings includingthosefor transportation equipment probably fell 1 percent in August after a 0.4 percent gain, according to themedianforecast. Excluding transportation, or-
ders probably rose 1 percent last month, the survey showed. Book- ings for nondefense capital goods excluding aircraft, a proxy for fu- ture business investment, might have increased4percent. —BloombergNews
Microstrategy Norfolk Southern Sanjeev K. Bansal
Hixon James A James A. Hixon John P. Rathbone
Saul Centers Sinclair Broadcast Group United Therapeutics
Washington Real Estate Investment Trust
B. Francis Saul II Scott V. Schneider
Robert E. Smith Christopher Causey Laura M. Franklin Chief operating officer
Officer Officer Officer
Officer CFO
Director/Owner Director Officer Sep. 9, Sep. 10
Sep. 13 Sep. 13 Sep. 14
Sep. 10 to Sep. 13 Sep. 14
Sep. 13 Sep. 10 Sep. 10 Sold
Sold Sold Sold
Bought Bought
Sold Sold Sold 50,000
5,554 5,554
30,000
6,700 6,000
100,000 1,500 1,500 81.57 to 82.92
59.48 22.49 22.49
43.51 to 43.98 24.91 to 25.78
7.01 30.75 25.61 346,462
131,903 -- --
6,487,230 --
951,787 -- -- -- Thomson Financial BANKRUPTCIES These firms recently filed with the U.S. Bankruptcy
Court’s local court clerk’s offices. Under Chapter 11 of the federal bankruptcy code, a
company is protected from claims by creditors while it attempts to reorganize its finances under a plan approved by the court. In a Chapter 7 liquidation, a court trustee sells
assets to pay creditors’ claims. The company then ceases operations.
EASTERNVIRGINIA DISTRICT ALEXANDRIADIVISION
Northern Virginia Consulting and Preventive Roof Maintenance Inc. 9415 Ox Rd., Lorton, Va. 22079 Type of filing: Chapter 7 liquidation Case number: 10-17598-RGM Date filed: Sept. 9 Attorney: Gregory H. Counts, 703-549-5000 Assets: zero to $50,000 Liabilities: $500,001 to $1 million Largest unsecured creditor: Not disclosed
Business One LLC
14117 Mariah Ct., Chantilly, Va. 20151 Type of filing: Chapter 11 reorganization Case number: 10-17649-RGM Date filed: Sept. 10 Attorney: John P. Forest II, 703-691-4940 Assets: $500,001 to $1 million Liabilities: $1,000,001 to $10 million Largest unsecured creditor: Not disclosed
RMAA Real Estate LLC 20702 Crescent Pointe Pl., Ashburn, Va. 20147 Type of filing: Chapter 11 reorganization Case number: 10-17701-RGM Date filed: Sept. 13 Attorney: Pro se Assets: Not disclosed Liabilities: Not disclosed Largest unsecured creditor: Not disclosed
MARYLANDDISTRICT GREENBELT
Westbury Owner LLC 11200 Rockville Pike, Ste. 502, Rockville, Md. 20852 Type of filing: Chapter 11 reorganization Case number: 10-30951 Date filed: Sept. 12
Attorney: Bradford F. Englander, 703-280-9081 Assets: $10,000,001 to $50 million Liabilities: $10,000,001 to $50 million Largest unsecured creditor: Property Tax Services of Florida, $24,635
Pet Counselors Inc. t/a Critters 4718 Lincoln Ave., Beltsville, Md. 20705 Type of filing: Chapter 7 liquidation Case number: 10-31207 Date filed: Sept. 15 Attorney: Richard M. Gill, 301-627-5222 Assets: zero to $50,000 Liabilities: $100,001 to $500,000 Largest unsecured creditor: Kevin M. Farrell, $45,000
Eagle Technologies Inc. 9301 Annapolis Rd., Ste. 200, Lanham, Md. 20706 Case number: 10-31246 Date filed: Sept. 15 Attorney: James M. Greenan, 301-441-2420 Assets: zero to $50,000 Liabilities: $1,000,001 to $10 million Largest unsecured creditor: Thomas Rutherfoord, $69,317
—Compiled by Vanessa Mizell Thomas D. Murphy William J. Shawn John G. Puente Title
Director Officer CEO
Director Director Director
CEO Director CEO CEO
General counsel Director
Officer Officer and director Director Date
Sep. 10 Sep. 10 Sep. 10 Sep. 10
Sep. 13 to Sep. 15 Sep. 13
Sep. 9 Sep. 14 Sep. 13
Sep. 13 Sep. 14 Sep. 13
Sep. 13 Sep. 13 Sep. 9
Action Sold Sold Sold Sold Sold Sold
Sold Bought Sold
Sold Sold Sold
Sold Sold Sold
Shares 2,714
10,008 5,000 700
30,416 6,629
150,000 5,000 17,000
30,000 4,000 5,000
6,505 125,000 25,000
Price Now holds 42.80 42.55 18.52 42.60
5,000 3,406 --
43.21 to 43.72 43.37 to 43.54
11.73 22.59 13.31 to 13.57
38.02 37.90 29.98
5.41 36 39.45
2,014 2,714 1,000
-- 5,000 767,348
398,846 51,696 --
-- 377,350 27,000
FACE TIME Monday
Coffee and Conversation. Get connected and hear how Tom Adams, chief executive of Rosetta Stone, grew his business into a successful company. 8:30 to 10 a.m., Hamilton Crowne Plaza, 1001 14th St. NW, Washington. Sponsor: DC Chamber of Commerce. Cost: Nonmember, $30. Contact: coffeeandconversation@dcchamber. org. Web site:
www.dcchamber.org. Business Seminar. A free seminar for female business owners about small-business federal government contracting programs. 9 a.m. to 1 p.m., Fairview Marriott Hotel, 3111 Fairview Park Dr., Falls Church. Sponsor: EZCertify. Contact: Margaret Geris, 703-754-3782. Web site:
www.ezcertify.com. Why be good? Learn how to deal with ethical dilemmas in business and in life through the wisdom of ancient India. 6 to 8 p.m., 1526 New Hampshire Ave. NW, Washington. Sponsor: India-US World Affairs Institute. Cost: General member, $20; basic member and nonmember, $30; student, $10.
Contact:
events@india-us.org. Web site:
www.india-us.org.
Tuesday
Real Estate Leases Seminar. Learn how your company can change its real estate strategy and how upcoming changes will affect your financial balance sheet and earnings. 8:30 to 10 a.m., Capital Hilton, South American Room, 16th and K Sts. NW, Washington. Sponsor: Baker Tilly, M&T Bank and Transwestern. Cost: $25. Web site:
www.bot.org.
Thursday
Prospecting and Marketing: The Keys to Growing Your Business. Learn the latest business tools and hear tips for sustaining your business success. 10 a.m. to 2 p.m., Keller Williams Select Realtors, 3290 N. Ridge Rd., Suite 150, Ellicott City. Host: Keller Williams Realty Maryland/DC Region. Cost: $10. Web site:
www.keystogrowec.eventbrite.com. Bookkeeping and Taxation for
BUSINESS RESOURCES Directory Deadline: Thursday 4pm MD:Commercial Property
FORECLOSURE Thurs., Oct. 7@11am
200’ on US1 in Bel Air
u u
Commercial Facility 1.87+/- acres
u u
Zoned B-3 5,900+/- sf building
Property located at:
2457 Conowingo Rd, Bel Air, MD Auction at: Harford County Courthouse
www.tranzon.com 888-621-2110
VA:Commercial Property
HISTORIC HOME &COMPOUND
u u u u u u
Manor House 27.6+/- acres 5other houses Barns, pond &more FX7141
Great for family estate, event/conference center, B&B or worship center!
Thurs, Oct. 14th
www.tranzon.com 888-621-2110
@11am 15164 BerlinTurnpike, Waterford, VA VAAF423 VA:Commercial Property Loudoun County, VA MD:Commercial Property S
u u
u u u
CHINATOWN BLDG Wed., Oct. 6@11am
4-story row home Redevelopment Opportunity 1,728+/- sf lot 4,358+/- sf building Zoned R-5-E
u u
Across from Historic 6th &ISynogogue 2blocks from Verizon Center uFX6780
819 6th St., NW, Washington, DC 4.89± Acre WAterfront PArcel
•679’± deeP WAter frontAge •guArAnteedto sell Above $250,000 bid! thu.,oct.7,3 P.M., on-site
212cArters cove dr.,WeeMs (lAncAster co.), vA fX1621
•MAy 2010 APPrAisAl vAlues ProPerty At over $1,000,000
•M-1 zoning AlloWsfor cMrcl ventures incl. MArinA, fishing oPerAtions, boAt sAles/storAge
•AlternAtely, build APrivAteriver retreAtorPotentiAllysubdivide into MultiPle residentiAl lots
•this PeninsulA Also offers 300’± AdditionAl frontAgeonAPicturesque tidAl Pond
richMond:2 MiXed-useshell buildings in broAd st. revitAlizAtion AreA •10/6
1 sells regArdless of Price Above $50K bid! •eA.6K± sf • neAr vcu, Mcv, fin. dist., stAte/fed. ofcs.• ideAl for retAil/ofc on 1st flr, APts 2nd/3rd flrs •fX1618/fX1619
MiddleseX co.: 3 offerings on rt.33•tWo With disclosed MiniMuMs, one As loW As $25K! •bAnK-oWned •fX1620
VAAF 423
Small Businesses. Learn how to set up accounting records and maintain corporate accounts. 6 to 8:30 p.m., George Washington University, Virginia Science and Technology Campus (Research 1, Room 101), 20101 Academic Way, Ashburn. Sponsor: Loudoun Small Business Development Center. Cost: Preregistered, $25; at door, $30. Contact: Cathy Campbell, 703-430-7222. Web site:
www.loudounsbdc.org.
Saturday
SaveWith SolarWorkshop. Learn all about solar power and how to take advantage of federal, state and local incentives. 10 to 11:30 a.m., Greenavise, 9321 Georgia Ave., Silver Spring. Host: Greenavise. Contact: 202-670-2105. Web site:
http://greenavise.com.
Send potential listings to
facetime@washpost.com at least two weeks in advance. Model your entry on the information above, and put the event date in the subject line.
Commercial Real Estate Call Pat Jacob 202-334-5703
or fax 202-334-4337, or email
Reclass@washpost.com VA:Commercial Property
VA:Commercial Property
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