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Homestore reports net loss of $4.57 million

By Inman News, Wednesday, November 3, 2004.

Homestore, the National Association of Realtors-affiliated company that runs home-search site Realtor.com and other Web sites, today reported a net loss of $4.57 million for the third quarter, which compares to a $4.26 million net loss in the second quarter and a $30.58 million loss in third-quarter 2003.  more...

Companies unite for electronic real estate loans

By Samantha Peterson, Wednesday, November 3, 2004.

Dave Williamson believes 2005 will bring about significant pilot projects dealing with electronic mortgages, or those that can be processed and closed without paper. And he predicts that those innovations will become even more widespread over the following two years.

Investor acceptance may come about more slowly, Williamson said, but he hopes the group he chairs – the eMortgage Alliance – can help push the entire industry toward e-mortgages. The non-profit alliance, formed about two years ago, consists of 10 companies involved in the e-mortgage sphere of the industry.  more...

New York real estate group has power and numbers Premium Content

By Glenn Roberts Jr., Wednesday, November 3, 2004.

On the day that followed the devastating terrorist attacks of Sept. 11, 2001, New York Mayor Rudolph Giuliani sought input from a powerful group of real estate professionals.

The Real Estate Board of New York, formed 108 years ago by a group of commercial brokers, has played a major role in the development of New York City.  more...

NAR's top guns Premium Content

By Inman News, Wednesday, November 3, 2004.

Editor's note: The National Association of Realtors' backbone consists of industry movers and shakers -- some of whom are paid staff and others volunteers -- who help keep the organization pointed in the right direction and striving to meet its goals. This special five-part series takes a look at some noteworthy figures within the trade group.  more...

REIT buys Homestore headquarters

By Inman News, Wednesday, November 3, 2004.

Grubb & Ellis Co. represented Arden Realty Inc., a West Los Angeles-based real estate investment trust, in the purchase of a 137,762-square-foot office building in Westlake Village, Calif.

The value of the transaction was $32.5 million.

The two-story, concrete tilt-up building, which is located at 30700 Russell Ranch Road, was 100 percent leased to Homestore Inc. at the time of sale.

Calabasas, Calif.-based Russell Ranch Road LLC sold the property.

Grubb & Ellis is a provider of integrated real estate services.

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Buyer found for Sundance Village community

By Inman News, Wednesday, November 3, 2004.

Hendricks & Partners negotiated the sale of Sundance Village, a 532-unit apartment community in Las Vegas, Nev.

The value of the transaction was $26.9 million.

The property is located at 6500 West Charleston Blvd.

San Diego-based Sundance Village Associates Ltd. sold the property to Portland, Ore.-based Sundance Village Limited Partnership.

Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties.

***  more...

More borrowers cash out real estate equity

By Inman News, Wednesday, November 3, 2004.

Sixty percent of Freddie Mac-owned loans that were refinanced in the third quarter resulted in new mortgages at least 5 percent higher in amount than the original mortgages, according to Freddie Mac's quarterly refinance review.  more...

InterActiveCorp grows real estate revenue

By Inman News, Wednesday, November 3, 2004.

Barry Diller's media conglomerate InterActiveCorp today reported revenue in its financial services and real estate segment grew to $47.9 million in the third quarter, up from $24.4 million a year ago. The segment includes revenue from LendingTree, RealEstate.com, GetSmart and Domania.

The financial services and real estate arm had an operating loss of $200,000, representing a growth of 96 percent from the operating loss of $4.9 million during the third quarter of 2003.  more...

Condo, co-op real estate prices climb in South

By Inman News, Wednesday, November 3, 2004.

Sales of existing condominiums and cooperatives held at the second highest pace on record during the third quarter, according to the National Association of Realtors.  more...

Coastal markets remain hot for real estate investors Premium Content

By Inman News, Wednesday, November 3, 2004.

While real estate investors generally express cautious optimism regarding industry performance in 2005, concerns over the economy and job growth, coupled with the likelihood of higher interest rates, are curbing expectations for a robust year, according to "Emerging Trends in Real Estate 2005," a report released by the Urban Land Institute and PricewaterhouseCoopers LLP.

The Urban Land Institute is a nonprofit education and research institute with a mission to provide responsible leadership in the use of land in order to enhance the to  more...

Massachusetts real estate market slows

By Inman News, Wednesday, November 3, 2004.

Real estate loan applications surge

By Inman News, Wednesday, November 3, 2004.

Overall mortgage applications jumped by 8.2 percent last week even as mortgage rates increased, according to the Mortgage Bankers Association's weekly survey.

The MBA seasonally adjusted purchase index increased by 12.6 percent to 496.5 from 440.9 the previous week. The seasonally adjusted refinance index increased by 3.1 percent to 2,303.9 from 2,233.8 one week earlier.

The refinance share of mortgage activity decreased to 45.7 percent of total applications from 47.7 percent the previous week.  more...

Overnight real estate rates stand pat

By Inman News, Wednesday, November 3, 2004.

Long-term mortgage interest rates were mostly unchanged Tuesday, and the benchmark 10-year Treasury bond yield slipped to 4.06 percent.

The 30-year fixed-rate average stayed at 5.28 percent, and the 15-year fixed-rate nudged up slightly to 4.69 percent. The 1-year adjustable was unchanged at 3.25 percent.

The 30-year Treasury bond yield decreased to 4.81 percent.

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

Real estate mishap leaves house to ex-family member

By Robert Bruss, Wednesday, November 3, 2004.

DEAR BOB: About six years ago, I was diagnosed with inoperable terminal cancer. My doctor told me I had, at most, a year to live, probably less. So I deeded my house to my only heir, my daughter. Thanks to experimental drugs, my rare form of cancer went into remission. But about four months ago, my daughter was killed in an auto crash. Her will, dated 1999, leaves her assets to her now ex-husband. I have no idea why she didn't change her will when they divorced in 2002. The unhappy result is "my house" where I am still living goes to my daughter's ex-husband. Do I have any legal recourse?  more...

Home livability issues get national attention

By Tom Kelly, Wednesday, November 3, 2004.

Not sure how to help your folks "age in place?" Don't know the cost of universal design features?

National Aging in Place Week, Nov. 7-13, will feature free informational resource fairs for seniors and adult children in more than a dozen cities, including Minneapolis, Boston, Seattle and Los Angeles. Not only will there be exhibitors demonstrating ways to better accommodate elders who wish to "stay put," but there will also be an educational forums covering home modification, financing, and real life experiences from people that are successfully aging in place.  more...

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