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Marcus & Millichap arranges 1031 exchange in New York

By Inman News, Monday, October 4, 2004.

Marcus & Millichap negotiated the sale of a two-property, 420-unit apartment package in Poughkeepsie, N.Y., and Hyde Park, N.Y. 

The package commanded a sales price of $22.5 million.

An Englewood Cliffs, N.J.-based investment partnership acquired the assets in a 1031 exchange. The seller is a Poughkeepsie-based investment group that had owned the properties for more than 25 years.  more...

Furniture maker inks lease in California

By Inman News, Monday, October 4, 2004.

Alabama-based Standard Furniture has signed a five-year lease agreement to occupy 325,650 square feet in a master planned industrial center in the City of Industry, Calif.

The value of the transaction was $8 million.

The property, currently under development by Majestic Realty,  more...

CarrAmerica gains SoCal office holdings

By Inman News, Monday, October 4, 2004.

Grubb & Ellis/BRE Commercial arranged the sale of Corporate Plaza II, a two-building, 116,166-square-foot office complex in La Jolla, Calif.

The value of the transaction was $35.6 million.

The property is located at 12626 and 12636 High Bluff Drive.

CarrAmerica Realty purchased the property from SSR Realty Advisors.

The property was 77 percent leased at the time of sale to 17 tenants, including Pardee Homes and Latham & Watkins.  more...

A real estate dot-com survival story

By Jessica Swesey, Monday, October 4, 2004.

For Homes.com CEO Tom Orsi, success is about keeping it simple and making sacrifices. Orsi joined the online real estate company in 2001, when its ship started to sink. He was brought on board after the company had run out of its initial funding and serious financial problems were surfacing.

In the dark days of the online company's bankruptcy, Orsi remembers the difficult task of having to terminate hundreds of employees to keep the company alive. At that time, he was still a newcomer and served as the chief operating officer.  more...

Rookie Realtor on sneaky real estate tactics

By Inman News, Monday, October 4, 2004.

Oh, what a tangled web we weave,

When first we practice to deceive!

Sir Walter Scott penned those words in England almost 200 years ago in The Lay of the Last Minstrel.

It should be "required reading" for some of the home buyers, sellers and even Realtors I've met in my first year of the sales business.

Don't get me wrong: The vast majority of buyers, sellers and agents are good folks who are simply looking for an honest way to get the best deal for themselves or their clients.

But a handful of those I've met want to "win" at any cos  more...

String of burglaries prompts lockbox alert

By Glenn Roberts Jr., Monday, October 4, 2004.

Four Realtor associations in the Minneapolis-St. Paul, Minn., area have issued security alerts to members after the report of three burglaries that may be linked to a missing lockbox key and pin number.

The association, in an alert to members, announced that a "Supra SuperKey" was reportedly stolen from a member's car with the pin number attached to it. They key can be used to open Supra-brand electronic lockboxes. The St.  more...

'Boomburb' and 'aerotropolis' Premium Content

By Glenn Roberts Jr., Monday, October 4, 2004.

"Location, location, location" is an age-old axiom in real estate. In this three-part series, we look at how the location factor in real estate is changing. While location is still significant when considering real estate values, in many cases the hot spots themselves have migrated to what used to be dilapidated, inner-city neighborhoods. Learn what other trends are developing.  more...

Real estate technology co. plans transaction management platform

By Inman News, Monday, October 4, 2004.

Real Estate Business Technologies (REBT) today announced that it is developing a Realtor-centric transaction management platform for both the real estate industry and other related service providers in the marketplace, and that the National Association of Realtors has agreed to invest $1.2 million in the company in exchange for an equity interest in the venture.  more...

Realtors increase Internet usage

By Inman News, Monday, October 4, 2004.

Nearly 1 in 4 real estate transactions is generated from the Internet, according to a new California Association of Realtors survey tracking current trends in Realtors' use of technology.

The survey, which was released today during Tech Tuesday at California Realtor Expo 2004 in Santa Clara, also tracked behavioral changes in Realtors use of technology, as well as adoption rates of hardware, software and Internet connectivity.

"Realtors continue to be more technologically savvy than their counterparts in years past, and have integrated numerous technological tools into their  more...

New software aims to safeguard online privacy

By Inman News, Monday, October 4, 2004.

Software provider Privacy Inc. today announced the availability of Opaque, a privacy management tool that aims to protect consumers' identity while online.

Opaque's technology enables users to protect their private information from being shared, stolen or misused by keeping their e-mail address private. Opaque generates unlimited virtual e-mail addresses (v-mails) for use online, preventing the abuse of a consumer's "real" e-mail address.  more...

Equifax debuts real estate valuation tool

By Inman News, Monday, October 4, 2004.

Equifax Inc. today launched an online service that allows home buyers and sellers to access property value information on millions of homes.

Equifax Home Valuator provides consumers with high and low property value ranges, recent neighborhood sales and property record information, including the year the property was built, previous sale price, home and lot square footage, number of bedrooms and baths, and assessed value and property tax.

Home Valuator aims to allow homeowners to determine the best asking price and sell their  more...

Real estate sales on track to set record pace

By Inman News, Monday, October 4, 2004.

Existing-home sales are projected to reach a record level of about 6.49 million this year, a 6.4 percent increase over the previous record of 6.1 million set last year, the National Association of Realtors announced today. New-home sales are also expected to reach a record level this year at 1.15 million, compared with 1.09 million in 2003.  more...

Schwarzenegger appoints new real estate commissioner

By Inman News, Monday, October 4, 2004.

California Governor Arnold Schwarzenegger has appointed Jeff Davi as the Commissioner of the Department of Real Estate. Davi succeeds Paula Reddish Zinnemann, who left the post in October 2003, when state voters recalled Gov. Gray Davis and appointed Schwarzenegger to replace him.

Davi is broker/owner of A.G. Davi Ltd., in Monterey, and most recently served as president of the Monterey Association of Realtors and chairman of RE InfoLink MLS.  more...

Realtor.com beefs up virtual tours

By Inman News, Monday, October 4, 2004.

Realtor.com plans to expand its virtual tour offerings to support nearly all virtual image creation technologies, the company said today.

Beginning Nov. 30, real estate brokers and agents will be able to enhance listings on Realtor.com through an expanded, full-service hometour360(degree) program or the new PicturePath program.

Homestore, which operates the Realtor.com Web site, will convert its comprehensive hometour360(degree) product into a hosting and distribution tool powered by a choice of virtual image creation technologies.  more...

Undocumented immigrants could add $44 billion to housing

By Inman News, Monday, October 4, 2004.

Undocumented Hispanic immigrants would add an estimated $44 billion in new mortgages to the housing economy if barriers were removed and they were given access to buy homes in the United States, according to a study released Monday.

The study, commissioned by the National Association of Hispanic Real Estate Professionals, asserts that nearly a quarter million of the estimated 1.5 million undocumented immigrant households in the U.S. could become homeowners if barriers such as identification, legalization, traditional credit requirements and language were no longer issues.  more...

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