Realtor pulls plug on wires, paper

Colorful Realtors, fraud and blogs

In recognition of the Thanksgiving holiday, the news team at Inman News has a list of things to which we owe thanks.

Here's what we are grateful for:

1. Our story sources who go out on a limb and trust us with confidential and controversial information in the interest of getting the word out to colleagues. We respect your courage and insight and will protect you to the grave.

2. Real estate is ripe with scandal, antitrust, kickbacks, fraud and other conflicts so we have plenty of news articles each day.  more...

Lack of trust in New York City real estate market

There is a confidence problem in the New York City real estate market, according to a survey of agents and consumers.

About 78 percent of agents and 69 percent of buyers and sellers who participated in the survey said they agree that "most people don't trust real estate agents or they don't expect much from them."

The survey, conducted by market research company Penn, Schoen and Berland Associates, is based on interviews with 51 New York City real estate agents who sell Manhattan apartments and 152 customers who bought or  more...

Consumer confidence grows

Consumer confidence posted modest gains in November despite high energy prices, rising interest rates and persistent concerns about job growth, according to the latest University of Michigan Survey of Consumers.

"Consumers are both confident enough to spend more as well as cautious enough to save more in 2005," according to Richard Curtin, the director of the survey.  more...

Major real estate merger in Southern California

Century 21 Award and Century 21 Superstars, among the largest franchises in the Century 21 system, have announced a merger agreement that creates one of largest real estate companies in the nation. Both companies will continue to operate under their existing names, building upon the rich traditions and identities that have been developed through the years.

Combined, Superstars and Award have 20 sales offices in San Diego, Orange and Riverside counties.  more...

Real estate rates fall further

Mortgage rates dropped for the second consecutive week, according to Freddie Mac's weekly mortgage survey.

Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.72 percent for the week ended today, down slightly from last week when it averaged 5.74 percent.  more...

Real estate prices soar in Florida

While closing delays, difficulties obtaining homeowners' insurance and problems with repairing hurricane damage slowed home sales in Florida, the statewide median sales price grew 20 percent in October from a year ago, according to the Florida Association of Realtors.

Last month's median home price climbed to $190,800 from October 2003's $159,600. Since 2004 began, the statewide median sales price has shown double-digit gains each month, according to FAR.  more...

New-home sales, prices rise in October

Sales of new single-family houses in October were at a seasonally adjusted annual rate of 1.23 million, according to estimates released today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  more...

Job market holds steady

The Conference Board's Help-Wanted Advertising Index, a key barometer of the nation's job market, increased one point in October. The Index now stands at 37, up from 36 one year ago.

In the last three months, help-wanted advertising declined in six of the nine U.S. regions. Largest declines occurred in the Mountain, East North Central and South Atlantic regions by 7.2 percent, 5.9 percent and 5.3 percent, respectively.  more...

Real estate loan applications drop

Overall mortgage applications dropped 5.7 percent last week on a seasonally adjusted basis, according to the Mortgage Bankers Association's weekly survey.

The MBA seasonally adjusted purchase index decreased by 3.5 percent to 463.3 from 480.3 the previous week. The seasonally adjusted refinance index decreased by 8.3 percent to 2,179.3 from 2,375.4 one week earlier.

The refinance share of mortgage activity decreased to 48.4 percent of total applications from 48.6 percent the previous week. The adjustable-rate-mortgage share of activity remained at 34 percent.  more...