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Yacht club housing sells in Miami

By Inman News, Friday, October 8, 2004.

Marcus & Millichap arranged the sale of the Miami River Yacht Club in Miami.

The multifamily community sold for $20 million.

A Miami-based LLP sold the property to a Miami-based investment partnership.

Miami River Yacht Club is located at on the waterway at 1740 NW North River Drive. The exclusive 164-unit community was constructed in 1986 with 132,930 rentable square feet. The property's unit mix is comprised of 64 one-bedroom and 100 two-bedroom apartments, ranging in size from 650 to 950 square feet.  more...

CarrAmerica expands in Silicon Valley

By Inman News, Friday, October 8, 2004.

CarrAmerica Realty Corp. acquired five buildings in the Corporate Technology Centre in North San Jose, Calif.

CarrAmerica paid $43.8 million for the office/R&D properties, which total 331,950 square feet. CarrAmerica will also assume management and leasing of the buildings.

The five-building portfolio, which was 42 percent leased at the time of sale, was completed in 1999.

CarrAmerica owns, develops and operates office properties in 13 markets throughout the United States.

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ProLogis secures space for Gatorade

By Inman News, Friday, October 8, 2004.

ProLogis signed Logisco, a third-party logistics provider, to a lease for an 813,000-square-foot distribution facility in Indianapolis.

The value of the transaction was not disclosed.

The facility, located in Airtech Park, is part of ProLogis' joint venture with Browning Investments Inc. Logisco is leasing the space to accommodate distribution for Gatorade, manufactured locally by Quaker Sales & Distribution, Inc., a division of PepsiCo.  more...

Jobs, economy to take spotlight at presidential debate

By Lou Barnes, Friday, October 8, 2004.

Job creation in September remained on the thin side, and mortgage rates are still safely in the fives – 5.75 percent on the lowest-fee 30-year deals.

Payrolls grew by only 96,000 last month, and half of that total comprised low-octane hires by government. Other data were similarly tepid, and the Fed has given its first hint that it may pause after the next couple of .25 percent hikes in the Fed funds rate.  more...

Freedom = housing demand

By Bradley Inman, Friday, October 8, 2004.

Home-buyer frustration at any price

By Julie Brosterman, Friday, October 8, 2004.

You would think if you had $6 million to spend on a house in the Hollywood Hills that you could buy anything. Not necessarily. Nor $1 million. And if you're a first-time home buyer looking for something in the $500,000 price range in the Westside of Los Angeles, you might as well just forget it.

No, if you want to buy a house in the Westside of Los Angeles right now, you still might not find what you like at any price. Buyer frustration is growing and it's not pretty.  more...

Ten steps to providing a great real estate experience Premium Content

By Bernice Ross, Friday, October 8, 2004.

(This is Part 2 of a two-part series. See Part 1: What consumers want from a real estate agent.)

Last week's column compared two different customer service experiences. Both sets of buyers had good customer experiences. The question is how to shift your customer service from good to great?

Almost all agents want their clients to have a great customer service experience. The difference between good and great is often minor.  more...

Southeast U.S. real estate markets post mixed sales

By Inman News, Friday, October 8, 2004.

Home sales in North Carolina and the Greater Nashville, Tenn., area posted mixed results in the last two months but were still on track to break last year's records, according to Realtor associations in both states.

Sales of existing homes in North Carolina lost some steam in August, with 10,970 residential units sold, according to the North Carolina Association of Realtors. This is 17 percent higher than sales posted during August 2003, but 8 percent lower than sales in July of this year.  more...

Consumer confidence declines in New England

By Inman News, Friday, October 8, 2004.

U.S. consumer confidence, which has declined during the last two months, has been weakest in the New England region over the last year, according to an analysis released by The Conference Board. This area – which includes Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont – has also registered declines in help-wanted job advertising.  more...

Chicago man accused of housing discrimination

By Inman News, Friday, October 8, 2004.

The Department of Housing and Urban Development on Thursday reported its fourth action in almost a month on alleged Fair Housing violations. HUD announced yesterday that it charged Peter Altmayer of Chicago with violating the Fair Housing Act when he allegedly harassed and intimidated his neighbors based upon their national origins and religion.

According to HUD's investigation, in October 1999, Elie Bitton and his family–whose Jewish origins include Israel and Mexico–purchased a home next door to Altmayer on Jarvis Avenue in Chicago.  more...

Tech savvy boosts Realtor image

By Inman News, Friday, October 8, 2004.

California, Florida, Texas lead in mortgage originations

By Inman News, Friday, October 8, 2004.

California, Florida and Texas lead the country in mortgage originations, according to new mortgage market summary reports released today by the Mortgage Bankers Association.

According to the Mortgage Originations by State report, lenders originated almost 3.39 million loans in California during 2003, which translates to 15.9 percent of U.S. originations based on number, but 24 percent of U.S. originations based on dollar volume.  more...

HUD arms fair housing initiative with $17.6 million

By Inman News, Friday, October 8, 2004.

Overnight mortgage rates inch higher

By Inman News, Friday, October 8, 2004.

Long-term mortgage interest rates were higher Thursday, and the benchmark 10-year Treasury bond yield climbed to 4.24 percent.

The 30-year fixed-rate average rose to 5.44 percent, and the 15-year fixed-rate increased to 4.84 percent. The 1-year adjustable was down at 3.25 percent.

The 30-year Treasury bond yield rose to 4.99 percent.

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

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Divvying up family possessions: A lesson in diplomacy

By Katherine Salant, Friday, October 8, 2004.

You've decided to turn your dream house into a real house, and you find yourself designing the family room around the living room set you expect to inherit someday from your aging parents. The spot above your new fireplace will be perfect for their painting of the Michigan sand dunes where you spent every summer of your childhood. On the mantelpiece below the painting you'll place the pair of silver candlesticks they got as a wedding present, just as they display them now.  more...

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