By Inman News, Thursday, November 11, 2004. Wells Real Estate Investment Trust II acquired a 393,000-square-foot building in Gaithersburg, Md. The value of the transaction was not disclosed. The two-story building, built in 1986, is fully leased to IBM. Situated on 45.5 acres, the property is bounded by Interstate 270 to the west and Route 355 to the east. Among its features is a state-of-the-art, highly secured data center. Holliday Fenoglio Fowler L.P. represented the seller in the transaction. Wells was represented in-house. more...
By Inman News, Thursday, November 11, 2004. Mack-Cali Realty Corp. acquired a class A office building totaling approximately 74,000 square feet in Moorestown, N.J. The value of the transaction was $8.7 million. The property is located at 232 Strawbridge Drive within the Moorestown Corporate Center. Matrix/AEW Moorestown LLC, an affiliate of the Matrix Development Group, sold the property. At the time of sale, 232 Strawbridge Drive was approximately 70 percent leased to Lockheed Martin Corp. more...
By Inman News, Thursday, November 11, 2004. Inland Western Retail Real Estate Trust recently acquired two shopping centers in Florida and a distribution facility in Texas. The total value of the transactions was not disclosed. more...
By Jessica Swesey, Thursday, November 11, 2004. Visit Philly.com's real estate section and a friendly Realtor named Bill Johnson appears on the screen, inviting viewers to click on him to learn more about homes for sale. But the Realtor's image isn't your average pop-up advertisement; it's an interactive streaming media video. more...
By Samantha Peterson, Thursday, November 11, 2004. Mortgage heavyweights Fannie Mae and Freddie Mac likely face tougher oversight reform proposals over the coming year in light of President Bush's re-election and Republican gains in both houses of Congress, according to industry observers. Since the Freddie Mac accounting scandal rattled investors last year, Congressional members have crafted and discussed passing legislation to strengthen oversight of the housing government-sponsored enterprises, or GSEs. more...
By Inman News, Thursday, November 11, 2004. Despite a slight improvement from August, the percentage of households in California able to afford a median-priced home in September stood at 19 percent, still 5 percentage points lower than a year ago, according to a report released today by the California Association of Realtors. The minimum household income needed to purchase a median-priced home at $465,540 in California in September was $107,880, based on an average effective mortgage interest rate of 5.7 percent and assuming a 20 percent down payment. more...
By Inman News, Thursday, November 11, 2004. Language and cultural barriers are the biggest obstacles facing Asian-American home buyers, according to a recent survey of real estate professionals conducted by the UCLA Asian American Studies Center. A lack of knowledge about the home-buying process came in at a close second. more...
By Inman News, Thursday, November 11, 2004. The Realty Alliance, a national invitation-only real estate networking and think-tank group, today announced its officers and directors for 2005. Real Living President Sherry Chris will assume the role of chairwoman. Prior to her role at Real Living, Chris served as executive vice president of Royal LePage, the largest real estate firm in Canada. She has served on the board of directors of the Realty Alliance for three years and has been a member of the Realty Alliance for six years. more...
By Inman News, Thursday, November 11, 2004. Mortgage rates climbed for the second consecutive week on news of October job gains, according to Freddie Mac's weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.76 percent for the week ended today, up from last week when it averaged 5.7 percent. The average for the 15-year fixed-rate mortgage this week is 5.16 percent, also up from last week when it averaged 5.08 percent. more...
By Inman News, Thursday, November 11, 2004. ShowingTime, a showing management software company, on Wednesday announced it has implemented a new listing feature that allows Realtors using the Multiple Listing Service of Long Island to request property showings directly through their Stratus MLS system. more...
By Inman News, Thursday, November 11, 2004. Over the past several years the majority of loan closing involved a remote notary, or notary signing agent, in some form during the closing process. Legislation, technology and distribution now enable the conversion of traditional paper-based home loan documents to a viewable and signable electronic file. more...
By Inman News, Thursday, November 11, 2004. Ohio-based real estate brokerage company Real Living on Wednesday announced that DFW Realtors has joined the Real Living Network, opening the firm's first office in the state of Texas. Robert Cockrell will serve as broker/owner of Real Living DFW Realtors. Real Living DFW Realtors will serve the Coppell, Flower Mound, Dallas, Irving, Grapevine, Lewisville, Keller, Plano, Carrollton, Addison and Frisco areas from offices located at 9901 E. more...
By Inman News, Thursday, November 11, 2004. Weichert Relocation Resources has launched the next generation of its proprietary broker network. The Weichert Broker Network is a team of brokers carefully selected, trained and accredited by Weichert to assist relocating employees with real estate purchase and sale transactions. more...
By Inman News, Thursday, November 11, 2004. Fair Isaac Corp., a developer of credit-scoring systems, on Wednesday reported sinking profits, despite gains in quarterly revenue. The company had fourth-quarter revenues of $190.4 million, up from $161 million during the same quarter last year. Revenues for fiscal 2004 totaled $706.2 million, compared with $629.3 million a year ago. more...
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