ZipRealty CEO creates company from chaos

ZipRealty's chief executive Eric Danziger started out opening doors for people at the Fairmont Hotel in the heart of San Francisco. He's come a long way in the last 34 years, but he's essentially still doing the same task today. Only now, the doors lead not to a few nights' stay, but to homes for Zip's customers and careers for its salespeople.  more...

Realtor campaigns go online

The half-dozen Democrats running for U.S. President aren't the only candidates who have their own why-you-should-elect-me Web sites. Two candidates for the 2008 presidency of the National Association of Realtors also have put their qualifications and activities on the Web to win support and votes.  more...

Countrywide reports robust fourth quarter

Countrywide Financial Corp. reported a record year for operational activity, according to data released today for the period ended Dec. 31, 2003.

Fourth quarter purchase volume was $34 billion, an increase of 33 percent over the fourth quarter of 2002. Full-year purchase activity reached $130 billion, up 50 percent over the purchase volume record set in calendar 2002.

Fourth quarter volume of $29 billion drove full-year adjustable-rate loan fundings to $92 billion, two and one-half times greater than the $36 billion produced in all of calendar 2002.  more...

HUD awards fair housing grants

The Department of Housing and Urban Development today announced it has awarded $17.6 million in grants to fair housing groups in 39 states and the District of Columbia as part of the Bush Administration's efforts to curb housing discrimination.

HUD's Fair Housing Initiatives Program awarded the grants to groups that will use the funds to investigate allegations of housing discrimination, educate the public and housing industry about housing discrimination laws, and work to promote fair housing.  more...

OFHEO analyzes single-family mortgage industry

A new research paper by The Office of Federal Housing Enterprise Oversight (OFHEO) documents the technological advances and challenges facing the single-family mortgage industry as it moves toward a more electronic future.  more...

Listing agent 'all smiles' in Chile

I didn't honk, because I didn't want to spook the horse

SANTIAGO, Chile–In Chile, real estate commissions are split 50/50 between the buyer and seller – two percent on each side. There is no MLS, so the seller does not realize universal exposure and, therefore, the listing agent captures both sides and earns 4 percent.  more...

Overnight interest rates, benchmark bond sink

Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield dropped to 4.08 percent.

The 30-year fixed-rate average sank to 5.37 percent, and the 15-year fixed-rate dropped to 4.7 percent. The 1-year adjustable was down at 3.28 percent.

The 30-year Treasury bond yield fell to 4.96 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.  more...