New trend in 'borrowing' celebrity homes

Every time I am about to sell my house, my husband and I have the "Great Debate": open house or not? My husband dreads the "open." It gives him the creeps to know that people we don't know are traipsing through our house – especially the nosy neighbors who just want to look.  more...

Home builder reports record earnings

Home builder D.R. Horton Inc. on Wednesday reported its highest quarterly and annual earnings in company history.

Net income for the fourth quarter ended Sept. 30, 2004, increased 52 percent to $349.6 million ($1.47 per diluted share), from $230.7 million ($0.98 per diluted share) for the same quarter of fiscal 2003.

Fourth-quarter consolidated revenue increased 23 percent to $3.5 billion, from $2.9 billion in the fourth quarter of fiscal 2003. Homes closed increased 17 percent to 13,452 homes from 11,527 homes in the year-ago quarter.  more...

Real estate: The week ahead

• The Texas Mortgage Bankers Association will hold an educational seminar, "Working together to achieve more," Nov. 14-16, in Houston. For more information visit Texas MBA.

• The Custom Builder Symposium kicks off today in Indian Wells, Calif., and goes through Nov. 14. The event features educational sessions, roundtable discussions and networking. For more information, visit NAHB.org.  more...

Real Estate License Law Officials names president

At its recent meeting in Pittsburgh, Pa., the international Association of Real Estate License Law Officials (ARELLO) elected the administrator of the Texas Real Estate Commission, Wayne Thorburn, as its president for 2004-2005.

In addition to his responsibilities as administrator of TREC, Thorburn is also commissioner of the Texas Appraiser Licensing and Certification Board. His position as president of ARELLO will require him to represent the organization at various conferences and meetings related to real estate licensing and regulation.  more...

Wells Fargo debuts new real estate equity product

A new product from Wells Fargo gives homeowners the ability to manage their home as an asset in a changing interest-rate environment. The SmartFit Home Equity Account combines the flexibility of a home equity line of credit with the control of a home equity loan in one account.  more...

Illinois real estate sales post gains

Despite a slight dip in sales of existing single-family homes in Illinois during the third quarter, year-to-date sales were stronger than the same period in 2003, according to the latest report from the Illinois Association of Realtors.

Year-to-date home sales for the first nine months of 2004 rose 4.3 percent to a total of 97,176, compared to 93,160 in 2003.  more...

Consumers prefer mortgage brokers over direct lenders

Slightly less than a third of mortgage shoppers used a broker to help them find their current mortgage, but those customers who do tended to be very satisfied with their lending experience, according to the J.D. Power and Associates 2005 Home Mortgage Study.

Among consumers who responded to the survey, 29 percent said they contacted a mortgage broker.  more...

Overnight real estate rates unchanged

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

The 30-year fixed-rate average remained at 5.35 percent, and the 15-year fixed-rate held at 4.78 percent. The 1-year adjustable was up at 3.35 percent.

The 30-year Treasury bond yield held at 4.97 percent.

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