Real estate ad market lures media execs

Two more media executives entered the real estate industry this week with the purchase of Prince Communications, the parent company of real estate publisher Homes & Land. But unlike some of its media counterparts, Atlanta-based Endurance Business Media has no clear plans to continue buying into the real estate space.  more...

NRT absorbs Wisconsin brokerage

NRT Inc., a Cendant subsidiary, recently announced the acquisition of American Real Estate in West Bend, Wis.

The firm will now do business as an NRT-owned Coldwell Banker Residential Brokerage.  more...

Twin Cities real estate breaks record

Beating earlier predictions, Minnesota's Twin Cities housing market set an all-time record with 56,528 home sales in 2003, up more than 10 percent compared to 2002's record-breaking 51,212 home sales, according to the Saint Paul Area Association of Realtors.

Median sale price in the 13-county metropolitan area increased 8 percent to $199,900 in 2003.  more...

Windermere infiltrates Las Vegas real estate

Windermere Real Estate today announced the opening of a new Las Vegas-area office, the first Windermere office in the rapidly growing region and the second in the state of Nevada.

The Windermere Prestige Properties office is located at 701 North Green Valley Parkway in Henderson, which is just south of Las Vegas. The focus of this office will be on all areas of residential, resale and new construction, as well as the growing second-home market. There are currently 20 full-time agents with plans to more than double that number in the coming months.  more...

Mother Teresa trumps Rush Limbaugh

Dear Real Estate Ethicist,

My son and I were walking downtown recently, and a crippled homeless lady asked for a handout. We passed her, got into our car and my son asked why we hadn't helped her. I started to give my philosophy on the homeless, which is generally closer to Rush Limbaugh's than Mother Teresa. He looked totally confused and disappointed with his Dad. –Confused Dad

Dear Confused Dad,  more...

Overnight interest rates flat

Long-term mortgage interest rates were virtually unchanged Thursday, and the benchmark 10-year Treasury bond yield fell to 3.97 percent.

The 30-year fixed-rate average stayed at 5.29 percent, and the 15-year fixed-rate slipped slightly to 4.63 percent. The 1-year adjustable was down slightly at 3.25 percent.

The 30-year Treasury bond yield decreased to 4.86 percent.

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