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Five costly mistakes to avoid when selling your home

By Robert Bruss, Friday, December 31, 2004.

The National Association of Realtors recently published its year-end home sales statistics for 2004, including upward revisions of both the number of home sales and the median sales prices. According to NAR, home sales volume jumped 7.9 percent from last year to 6.58 million. New-home sales volume rose 8.9 percent over last year to 1.18 million houses and condominiums.

NAR reports the national median existing-home sales price rose 7.9 percent to $182,500, and median new-home sales prices rose 8.9 percent to $214,600. In 2004, housing starts were at the highest level since 1978.  more...

Did contractor rip off homeowner?

By Paul Bianchina, Friday, December 31, 2004.

Q: I had a contractor give me a quote of $2,850 to remove an old oil tank. When they were done, they had ruined my back yard, and their bill was more than $11,000. I feel victimized, but don't know where to turn. Thanks. -Roger A., via e-mail.

A: Without knowing the specifics of your agreement with the contractor, it's difficult to imagine how they went from $2,800 to $11,000. However, generically here are my suggestions:  more...

Design features make home life easier

By Katherine Salant, Friday, December 31, 2004.

If you ask any architect, from the most fuddy-duddy and conventional to the most cutting-edge post-modern genius, what a good building should deliver, most likely you'll hear the same poetic-sounding response: "Commodity, firmness and delight." It sounds good, but what does it mean? And, more importantly, why should you care?  more...

Raines gone, real estate market rocks on

By Janis Mara, Friday, December 31, 2004.

The housing market will continue unscathed despite the departure of the chief executive officer and chief financial officer of Fannie Mae, the country's largest mortgage finance company, industry figures opined.

"Personally, I don't think any one person could have that much influence. I agree with David Lereah (senior vice president of the National Association of Realtors), who says we are still in a housing boom for the next five years nationally," said Michael Godfrey, president of the Bay East Association of Realtors in Pleasanton, Calif.  more...

Relocation group opens doors to other real estate firms

By Glenn Roberts Jr., Friday, December 31, 2004.

A 31-year-old organization for relocation professionals, which formerly had membership exclusive to Century 21 franchises, has broadened its horizons by welcoming other franchises and independent companies.

The Board of Directors for International Relocation Consultants Inc., or Inrelco, voted in October to open the organization's doors to all real estate firms that maintain a relocation department.  more...

New biz models poised for growth in 2005

By Samantha Peterson, Friday, December 31, 2004.

The success of online real estate brokerage ZipRealty's initial public offering has buoyed other companies with alternative business models, boosting their optimism about prospects for 2005.

ZipRealty, a full-service brokerage that rebates part of its sales commission to home buyers and sellers, made its IPO of 4.55 million shares of common stock at $13 per share in November. Net proceeds totaled $61.3 million, higher than the company originally predicted.  more...

Real estate capitalizes on new breed of first-time buyers Premium Content

By Bernice Ross, Friday, December 31, 2004.

As median sales prices have climbed throughout the country, many buyers are unable to purchase property in the city where they live. As a result, many buyers are purchasing their first home far from where they live. With just a few minor adjustments in your marketing strategies, you can capitalize upon this growing trend.

The Saturday after Thanksgiving, the Seattle Post-Intelligencer contained an interesting article about a young couple who lived in Manhattan. The couple could not afford to purchase a home in Manhattan, even though they were paying $2,600 per month in rent.  more...

Yahoo! realty employee navigates home-buying process

By Inman News, Friday, December 31, 2004.

Bascom, Rockwood purchase multifamily site

By Inman News, Thursday, December 30, 2004.

A joint venture between Bascom Arizona Ventures LLC and Rockwood Capital Partnership recently purchased a 582-unit apartment community known as the Tiburon Apartments in Mesa, Ariz.

The value of the transaction was $18.5 million.

FEIGA/Tiburon L.P., a Delaware Limited Partnership, sold the property.  more...

Buyer secured for AutoZone property

By Inman News, Thursday, December 30, 2004.

Binswanger/CBB recently sold a 212,000-square-foot building with acreage in San Antonio, Texas.

The value of the transaction was not disclosed.

The one-story property is located at 1235 Gembler Road.

Stream Realty Partners L.P. purchased the property as an investment from AutoZone, a retailer of automotive parts and accessories with locations throughout the United States and Mexico.

AutoZone consolidated operations at this facility into its brand-new, 600,000-square-foot distribution center in Terrell, Texas.  more...

Luxury apartments sell in New Jersey

By Inman News, Thursday, December 30, 2004.

Kushner Cos. recently sold The Curling Club luxury apartment complex in Hoboken, N.J.

The value of the transaction was $70 million.

ING Clarion Partners purchased the property.

The Curling Club comprises 240 units and is located between 11th and 12th Avenues at 1122 Grand St. Kushner Cos. acquired the former industrial site in 1998, and in late 1999, the firm completed construction of The Curling Club, which consistently has maintained occupancy rates near 100 percent, according to a press statement.

Cushman & Wakefield brokered the transaction.  more...

The future of real estate industry consolidation Premium Content

By Samantha Peterson, Thursday, December 30, 2004.

With more than 80,000 real estate brokers across the country, observers say the fragmented real estate industry is long overdue for consolidation at a faster pace than in the past.  more...

Two-country resident proud of her career journey Premium Content

By Inman News, Thursday, December 30, 2004.

Sherry Chris joined Real Living Network Services after serving as executive vice president of Royal LePage, Canada's largest real estate firm.

At Royal LePage, Chris played a key role on the leadership team that spearheaded the development of an alternative business model for Canada's real estate industry.  more...

Fannie Mae announces massive sale of stock

By Inman News, Thursday, December 30, 2004.

Fannie Mae announced Wednesday that it has agreed to sell an aggregate of $5 billion in two placements of preferred stock to qualified institutional buyers, representing the largest capital placement ever undertaken by the mortgage-financing giant.

The $2.5 billion series of 5.375 percent Non-Cumulative Convertible Series 2004-1 Preferred Stock has a stated value and liquidation preference of $100,000 per share and is convertible by holders into shares of Fannie Mae common s  more...

Massachusetts real estate market heats up

By Inman News, Thursday, December 30, 2004.

Sales of detached single-family homes in Massachusetts rose 17.4 percent in November from a year ago, according to the Massachusetts Association of Realtors.

There were 4,063 closed home sales in November, up from 3,460 recorded in November 2003.

Sales of condominiums jumped 53.6 percent year-over-year in November to 1,597, compared to 1,040 sales in November 2003.

The median price of a detached single-family home in November was $345,950, up 14.6 percent from $302,000 recorded a year earlier.  more...

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