HouseValues sets stock price at $10-$12

HouseValues plans to price company shares for its initial public offering at $10 to $12 per share, according to new filings with the Securities and Exchange Commission. The technology company specializing in matching real estate agents with consumers has applied to list its common stock on the Nasdaq National Market under the symbol "SOLD."

The company set its IPO at 4.8 million shares, which it expects to net proceeds of about $57.5 million.  more...

Online real estate gurus convene in NYC

Real estate, mortgage, media and technology innovators from across the country will gather to network and discuss the future of digital technologies, online lead generation, the move toward paperless transactions and innovative uses of new media content at Inman News' Real Estate Connect 2005 in New York City, Jan. 9-11.

Real Estate Connect is the only event that connects the industry's old and new ideas, executives and business models.  more...

Real estate rates sink

Mortgage rates reversed a two-week climb this week, according to Freddie Mac's weekly mortgage survey.

Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.74 percent for the week ended today, down from last week when it averaged 5.76 percent. The average for the 15-year fixed-rate mortgage this week is 5.15 percent, down slightly from last week when it averaged 5.16 percent. Points on both the 30- and 15-year averaged 0.6.  more...

Economic growth slows

The U.S. leading index, a key barometer of economic conditions, fell for the fifth consecutive month in October, The Conference Board reported today.

The leading index now stands at 115.1 (1996=100). Based on revised data, this index decreased 0.3 in October and decreased 0.3 percent in September. During the six-month span through October, the leading index decreased 0.7 percent, with three out of 10 components advancing.

The Conference Board said the weakness in recent months has become more widespread.  more...

Legislation brings real estate within reach for veterans

Congress has approved legislation, supported by the National Association of Realtors, which aims to make home ownership more affordable for veterans.

The legislation increases loan guaranty limits on mortgages backed by the U.S. Department of Veterans Affairs to 25 percent of the Fannie Mae and Freddie Mac conforming loan limits. The new guaranty amount of $83,425 will enable qualified veterans to secure VA loans on homes priced up to $333,700.  more...

Partnership enhances bundled mortgage services

First Lenders Data, an Austin, Texas-based technology, data and bundled services provider, has partnered with UPF to enhance its bundled financial services. UPF provides flood, tax, reconveyance processing and other services to banks, credit unions, mortgage lenders and finance companies.  more...

Real estate prices have Californians considering relocation

Almost a quarter of all Californians say the cost of housing in their part of the state is forcing them to seriously consider moving to another part of California or out of the state altogether, according to a new survey by the Public Policy Institute of California.  more...

Real estate records break in Houston

Home sales in the Houston metropolitan area grew 0.9 percent in October from a year ago, posting a record-high for the month, according to statistics released by the Houston Association of Realtors.

Total property sales for October reached 5,624, compared to 5,574 sales in October 2003.

Additionally, year-to-date existing-home sales continue to rise ahead of last year's record-setting pace, with 60,334 listings sold so far this year, a gain of more than 9 percent from the same period last year.  more...

Overnight real estate rates mixed

Long-term mortgage interest rates were mixed Wednesday, and the benchmark 10-year Treasury bond yield fell to 4.13 percent.

The 30-year fixed-rate average slipped to 5.35 percent, and the 15-year fixed-rate held at 4.78 percent. The 1-year adjustable was up at 3.42 percent.

The 30-year Treasury bond yield dropped to 4.84 percent.

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