Home

LendingTree to display The Real Estate Book content Premium Content

By Marcie Geffner, Wednesday, January 28, 2004.

Can a lawsuit engender a love affair? Yes, judging by the latest turn of events in the strange saga of The Real Estate Book and RealEstate.com.  more...

Real Americans don't take bubble baths

By Inman News, Wednesday, January 28, 2004.

Editor's note: The Washington, D.C.-based Center for Economic and Policy Research is sponsoring an essay contest on "Why there is no housing bubble." The winner will win $1,000. Send a copy of your entry to contest@inman.com for possible publication on Inman News.  more...

Web mixes well with storefronts

By Inman News, Wednesday, January 28, 2004.

On Ashby Avenue in Berkeley, Calif., AuctionDrop.com offers a bricks-and-mortars store where you can bring your stuff, much like an old consignment shop, and the firm will peddle it on eBay and handle all of the shipping and collection.  more...

Fed holds key funds rate at 1%

By Inman News, Wednesday, January 28, 2004.

The Federal Reserve's Open Market Committee decided today to keep its target for the federal funds rate at 1 percent.

The Fed said that the upside and downside risks to the attainment of sustainable growth for the next few quarters are roughly equal.

The Fed said that the probability of an unwelcome fall in inflation has diminished in recent months and now appears almost equal to that of a rise in inflation.  more...

Real estate purchases dip from record high

By Inman News, Wednesday, January 28, 2004.

Overall home loan purchases dropped 5.2 percent last week on a seasonally adjusted basis, as rising long-term interest rates brought purchase mortgages down from their record high a week earlier, according to the Mortgage Bankers Association's weekly survey.

The MBA seasonally adjusted purchase index decreased by 10 percent to 451.6 from 501.6 the previous week. The seasonally adjusted refinance index decreased by 0.9 percent to 3,296.7 from 3,327.3 one week earlier.  more...

New-home sales top 1 million

By Inman News, Wednesday, January 28, 2004.

The Commerce Department today reported that despite a slip in December, sales of new single-family homes topped one million units in 2003, establishing a new record for the third consecutive year.

Sales of new single-family houses in December slipped approximately 5.1 percent to 1.06 million units from November's revised rate of 1.12 million on a seasonally adjusted basis, according to estimates released jointly today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  more...

Overnight interest rates inch up

By Inman News, Wednesday, January 28, 2004.

Long-term mortgage interest rates were higher Tuesday, and the benchmark 10-year Treasury bond yield fell to 4.08 percent.

The 30-year fixed-rate average climbed to 5.34 percent, and the 15-year fixed-rate rose to 4.62 percent. The 1-year adjustable was up at 3.25 percent.

The 30-year Treasury bond yield decreased to 4.94 percent.

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

Child safety compromised at day camp

By Robert Bruss, Wednesday, January 28, 2004.

Benjamin, age 5, and his brother Joshua, age 9, were enrolled at a summer day camp. Their parents dropped them off where they were then picked up by a bus and taken to the camp.

Buford, an individual with publicly avowed anti-Semitic views, entered the day camp area and began shooting. His bullet hit Benjamin. Joshua was not shot, but he "perceived" Benjamin's shooting.

Purchase Bob Bruss reports online.  more...

Debt consolidation with a real estate twist

By Tom Kelly, Wednesday, January 28, 2004.

If the holiday trip to Grandma's house, the kids' winter tuition and an overly generous Santa Claus impression nearly maxed-out your credit card, do your best to pay down those high interest-rate expenses as soon as you can.

Kitchen cabinets from scratch

By Bill and Kevin Burnett, Wednesday, January 28, 2004.

Q: Our new kitchen is going to require some custom cabinets, and my husband would like to build them himself to save money. I am concerned that the finishing touches will be compromised and shortly upon completion we will see them yellow, peel or warp. Any ideas on how we can seal or coat the cabinets? –Isabelle (Burlingame, Calif.)  more...

Real estate tip: Praise the pro-homeowner government

By Inman News, Wednesday, January 28, 2004.

The Taxpayer Relief Act of 1997 allows homeowners to keep much more of their profits when they eventually sell. Other key components allow a first-time buyer to use Individual Retirement Account funds to pay for a home. The act also reduced the taxes levied on the sale of stock and other investments, created tax-advantaged savings programs to pay for college expenses, and provided more options for retirement savings.

***
 more...

Bascom buys multifamily paradise

By Inman News, Wednesday, January 28, 2004.

The Bascom Group bought The Palms of Kilani, a 106-unit apartment community in Wahiawa, Hawaii.

The value of the transaction was $9.1 million.

Fowler & Flanagan Garden Club Associates LLC was the seller of the property, which is located at 1060 Kilani Ave. Built in 1973, the apartment community consists of four 4-story buildings spread out over 3.1 acres, with two-, three- and four-bedroom apartments with an average size of 841 square feet.  more...

Seattle mall sold to joint venture

By Inman News, Wednesday, January 28, 2004.

A joint venture between Developers Diversified Realty and Coventry Real Estate Advisors purchased Totem Lake Malls, a 290,000-square-foot shopping center in suburban Seattle, Wash.

The value of the transaction was not disclosed.

At the time of sale, the property was approximately 78 percent leased to Trader Joe's, Ross Dress For Less, CompUSA, Famous Footwear, Rite Aid and Big 5 Sporting Goods.

The property, which is located five miles north of downtown Kirkland, was built in 1973 as a two-story enclosed regional mall.  more...

Caruso bags Marina Waterside

By Inman News, Wednesday, January 28, 2004.

Caruso Affiliated Holdings purchased Marina Waterside, a 130,000-square-foot retail center in Marina del Rey, Calif.

The value of the transaction was not disclosed.

The 10-acre property is located on Lincoln Boulevard between Mindanao Way and Fiji Way.

Carlyle Realty Holdings sold the property, which does not include the County of Los Angeles-owned land on which it sits. In December the County approved the transfer of the long-term land lease to Caruso.