By Inman News, Sunday, October 3, 2004. Assist-2-Sell, among the largest residential discount real estate companies in North America, has grown about 43 percent this year, adding 25 owner-operated franchises in September alone, the company announced this week. Formed in 1987, the Reno, Nev.-based discounter has 421 franchises in the United States and Canada, and its franchises are in 46 U.S. states. Assist-2-Sell cofounders and co-owners Mary LaMeres-Pomin and Lyle E. Martin said the company has entered the Wyoming market with a franchise in Gillette. more...
By Inman News, Sunday, October 3, 2004. The Internet is steadily gaining market share of the 18- to 54-year-old media consumer looking for news and information, according to the Online Publishers Association's Generational Media Study. The study, conducted by Frank N. more...
By Inman News, Sunday, October 3, 2004. Construction activity in California is up 11.4 percent for the first eight months of 2004 compared with the same period last year, totaling $52.18 billion, the Construction Industry Research Board reported today. All construction sectors are up year-to-date in California except government-owned buildings construction, which is down 4.4 percent. more...
By Inman News, Sunday, October 3, 2004. Freddie Mac will restructure a certain number of its mortgage securities operations as part of its ongoing initiative to focus business activities on its core mission, the company said today. Freddie Mac will cease the market-making activities of its Securities Sales & Trading Group business unit (SS&TG) and transfer that unit's mortgage sourcing and investment activities to other Freddie Mac business units. more...
By Inman News, Sunday, October 3, 2004. Despite the second consecutive month of slowing home sales across Canada, closed transactions set a monthly record in August, according to the Canadian Real Estate Association. Seasonally adjusted existing-home sales via the Multiple Listing Service numbered 37,881 units in August, down 1.1 percent compared to 38,397 units the previous month. Monthly sales increases in all Prairie Provinces, New Brunswick, Nova Scotia and Prince Edward Island were offset by declines in British Columbia, Ontario, Quebec and Newfoundland, CREA reported. more...
By Inman News, Sunday, October 3, 2004. Long-term mortgage interest rates were higher Friday, and the benchmark 10-year Treasury bond yield climbed to 4.19 percent. The 30-year fixed-rate average jumped to 5.42 percent, and the 15-year fixed-rate increased to 4.82 percent. The 1-year adjustable was up at 3.22 percent. The 30-year Treasury bond yield jumped to 4.94 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. more...
By Robert Bruss, Sunday, October 3, 2004.
DEAR BOB: My neighborhood seems to be in a vicious cycle. Other neighborhoods around town show significant appreciation in market value. But ours is flat. When realty agents list homes in my area at prices comparable to the other neighborhoods, the buyer's mortgage usually is denied due to a low appraisal. Even after a second or third appraisal, the seller is then forced to reduce the sales price by $10,000 to $15,000 or lose the buyer. Can a home seller refuse to lower his price when the buyer's mortgage is denied due to a low appraisal? – Robert M. more...
By Jack Guttentag, Sunday, October 3, 2004.
"I was told that the only way I could qualify for the loan I wanted was with a GPM. What is that?" GPM stands for "graduated payment mortgage," meaning a mortgage on which the payment starts low and rises over time. Since the initial payment is used to qualify the borrower, the GPM may allow a borrower to qualify who would not qualify with a standard fixed-rate mortgage (FRM). more...
By Dian Hymer, Sunday, October 3, 2004.
(This is Part 1 of a two-part series. See Part 2: Home-buyer inspections can kill real estate deals.) A seller's worst nightmare is to find out as the moving van pulls away that the sale transaction has fallen apart. Although, most home sales do go through, there are a certain percentage don't. To avoid an unpleasant scenario, it helps to consider the reasons why a home sale might fail. more...
|
