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RealtyTrac: Foreclosures up 4% in July

BY HBSDEALER Staff

RealtyTrac’s U.S. Foreclosure Market Report for July 2010 shows foreclosure activity increased almost 4% to 325,229 filings — either default notices, scheduled auctions or bank repossessions.

“July marked the 17th consecutive month with a foreclosure activity total exceeding 300,000,” said James J. Saccacio, CEO of RealtyTrac. “Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth straight month.”

Interestingly more than half of foreclosure activity occurred in five states: California, Florida, Illinois, Michigan and Arizona. Nevada showed the highest foreclosure rate for the 43rd straight month — one in every 82 housing units received a foreclosure filing in July.

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Marjam Supply named 2010 Pro Dealer of the Year

BY HBSDEALER Staff

Coming off a solid performance in a difficult economy, Marjam Supply Co. has been named the 2010 Pro Dealer of the Year by the editors of Home Channel News.

Marjam Supply Co., based in Brooklyn, N.Y., was founded in 1979 and has since grown to a 22-location player across the eastern United States, providing — among other building materials — lumber, windows, doors, ceiling systems, flooring, roofing and wall systems.

The company is actively looking for growth opportunities, and recently expanded its footprint into the state of Florida through the acquisition of four units. The company’s ability to increase sales more than 7% last year reflects a high performance in an extremely difficult operating environment.

“We believe Marjam is an extremely worthy company to receive the honor of Pro Dealer of the Year,” said Ken Clark, editor in chief of Home Channel News. “Our annual Top 350 Pro Dealer Scoreboard shows no larger company had a better sales story in 2009. And at their Brooklyn headquarters, the challenge of doing business in a dense urban environment makes their performance all the more impressive.”

The company’s 2009 sales increased 7.2% to $342 million, as reported in the Top 350 Scoreboard.

The 2010 Pro Dealer of the Year Awards Dinner, sponsored by iLevel by Weyerhaeuser, is held in conjunction with the 2010 ProDealer Industry Summit, Oct. 13 to 15, 2010, at the Hyatt Regency Grand Cypress. Now in its 14th year, the award has been presented annually by Home Channel News to commend excellence in the LBM industry.

Marjam Supply is no stranger to awards. In 1995, Mark Buller was recognized as Metropolitan New York winner of an Ernst & Young Entrepreneur of the Year award. More recently the Northeastern Retail Lumber Association honored Marjam chief operating officer Carmen Arguelles as “Lumber Person of the Year.”

“We are honored to receive this award on the behalf of every Marjam employee,” Buller said.

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Sears to open upscale Craftsman store

BY HBSDEALER Staff

An article in Chicago Business reports Sears intends to open a Craftsman “experience” store at 233 W. Huron St. in Chicago’s River North gallery district.

The location is about a block from the Sears Kenmore Live Studio store.

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