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Loan fraud easier than armed robbery Premium Content

By Jessica Swesey, Friday, January 9, 2004.

"Bank robbery without a gun."

That's how Rich Bailey describes mortgage fraud schemes in which rings of realty industry insiders bilk lenders out of millions of dollars each year.  more...

Service puts Magic into mortgage lending

By Marcie Geffner, Friday, January 9, 2004.

ServiceMagic has added a lender referral service to its online marketplace of real estate salespeople and home improvement contractors. The new lender service connects home loan borrowers to prescreened lenders and mortgage brokers who pay a fee to participate in the program.  more...

'U.S. economy is not faltering'

By Lou Barnes, Friday, January 9, 2004.

Job market weakness in today's report has staggered the markets, and knocked long-term rates down to their post-November lows, 4.08 percent on the 10-year T-note, and 30-year, low-fee mortgages sliding below 5.75 percent.  more...

Stone resigns from Fidelity board

By Inman News, Friday, January 9, 2004.

Fidelity National Financial on Thursday announced that Patrick F. Stone has resigned from its board of directors. Stone most recently served as the chief executive officer of Fidelity National Information Solutions Inc. (FNIS), a majority-owned subsidiary of FNF.  more...

Real estate poised for brisk 2004

By Inman News, Friday, January 9, 2004.

Rising family income coupled with low mortgage rates are two of the critical ingredients for a strong housing market, which are expected to be at work in 2004, according to Freddie Mac's latest economic forecast.  more...

SoCalMLS takes training to the ice

By Inman News, Friday, January 9, 2004.

The Southern California MLS will kick the National Hockey League's Mighty Ducks off the ice next week in order to introduce a new MLS system and conduct training sessions for thousands of its brokers and agents next week in Anaheim.

On Jan. 14, the SoCalMLS will attempt to fit in as many attendees as possible into the 18,000-seat Arrowhead Pond stadium where real estate professionals will learn the ins and outs of the MarketLinx Tempo MLS System.  more...

Interest rates sink, benchmark bond rises

By Inman News, Friday, January 9, 2004.

Long-term mortgage interest rates were lower Thursday, and the benchmark 10-year Treasury bond yield rose to 4.25 percent.

The 30-year fixed-rate average sank to 5.46 percent, and the 15-year fixed-rate dropped to 4.79 percent. The 1-year adjustable was down at 3.33 percent.

The 30-year Treasury bond yield remained at 5.08 percent.

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

Nonverbal signals deliver real estate punch Premium Content

By Bernice Ross, Friday, January 9, 2004.

Do you use body language to your best advantage when negotiating? If not, learning how to read and use nonverbal signals can give you a powerful edge when it comes to negotiating.

A number of years ago, my partner and I received a high-end referral from the founder of our company. Our client wanted a property he could lease-option. After showing him more than 40 houses, he decided on a gorgeous, three-month-old home.  more...

Fed eases real estate tax rules

By Robert Bruss, Friday, January 9, 2004.

In 2003, the IRS issued new liberalized rules interpreting the $250,000 principal residence sale tax exemption (up to $500,000 for a married couple filing jointly) and the first court case interpreting Internal Revenue Code 121 was decided. Before getting to the new developments, let's review the basic rules.

THE EASY ELIGIBILITY RULES. Internal Revenue Code 121, enacted by Congress in 1997, offers up to $250,000 tax-free principal residence sale capital gains. A qualified married couple can claim up to $500,000 tax-free sales home profits.  more...

Proper sizing essential for electric wall heaters

By Paul Bianchina, Friday, January 9, 2004.

It's chilly outside and you may be casting around for some practical ideas for warming up an individual room or two. One solution might be to add a built-in electric wall heater.  more...

From Rust Belt to preserved relics

By Arrol Gellner, Friday, January 9, 2004.

We Americans think we're pretty hip for converting the occasional warehouse or factory into housing, but we can't hold a candle to Europe's clever new uses for old industrial relics. Whether ore bunkers or blast furnaces, the Europeans honor these structures as landmarks of a bygone era, rather than blowing them up as we do.  more...