By Inman News, Tuesday, December 21, 2004. Marcus & Millichap brokered the sale of the Heritage House Apartments in Davis, Calif. The value of the transaction was approximately $18 million. more...
By Inman News, Tuesday, December 21, 2004. Spaulding & Slye Colliers and Prospect Properties brokered the sale of a 126,000-square-foot shopping center in North Reading, Mass. The value of the transaction was $16.5 million. NR Plaza LLC sold North Reading Shaw's Plaza Shopping Center, located on Route 28/Main Street, to Federal Realty Investment Trust. Shaw's Supermarket anchors the property, which includes tenants such as Blockbuster Video and Sears Hardware. Spaulding & Slye Colliers is an international commercial real estate services company. *** more...
By Inman News, Tuesday, December 21, 2004. SSR Realty Advisors sold a 245,503-square-foot industrial park in Anaheim, Calif. The value of the transaction was $18.8 million. The Anaheim Tech Center is located at 950 and 955 E. Ball Road and 1045, 1047, 1051 and 1055 East St. Voit Commercial represented developer Greenlaw Partners and investment manager Guggenheim Real Estate PLUS fund in the purchase. Voit Commercial Brokerage, a member of CORFAC International, is a full-service brokerage company. *** more...
By Inman News, Tuesday, December 21, 2004. Barry Diller's InterActiveCorp today announced plans to separate into two publicly traded companies. The planned companies will be IAC and Expedia. InterActiveCorp's holdings include home shopping, ticket, travel, lodging, dating, and mortgage and real estate-related businesses. more...
By Inman News, Tuesday, December 21, 2004. As housing costs continue to increase faster than wages, millions of working families will spend the holidays struggling to pay for their homes, while many others will bring in the New Year without a home at all, according to a new report released Monday by the National Low Income Housing Coalition. The report, "Out of Reach: 2004," finds that the national Housing Wage for 2004 is $15.37 an hour, or $31,970 a year, almost three times the federal minimum wage. more...
By Inman News, Tuesday, December 21, 2004. The California Association of Realtors has raised $1.01 million this year for its Housing Affordability Fund, which is disbursed among local Realtor associations that request money to support housing affordability and housing supply initiatives. California Realtors have contributed about $2.3 million to the fund since its creation in January 2003. The state association donated $500,000, Realtors throughout the state donated about $300,000, and local Realtor associations donated about $125,000 for the fund. more...
By Inman News, Tuesday, December 21, 2004. A federal trial jury in Massachusetts on Friday convicted a Springfield, Mass., police officer and another Springfield man of conspiracy, mail fraud, wire fraud and money laundering in connection with a real estate fraud scheme. Michael J. Hutchison, 35, and Chester J. Ardolino, 37, each face up to five years in prison a fine of $250,000 for the conspiracy, mail fraud and wire fraud charges, and a fine of $500,000 for the money-laundering charges, according to a U.S. Attorney's office statement. more...
By Inman News, Tuesday, December 21, 2004. Entyre, a nationwide provider of Web-based mortgage closing tools, and LandAmerica OneStop, a provider of online, Web-based real estate transaction services for mortgage lenders, have partnered. more...
By Inman News, Tuesday, December 21, 2004. Existing-home sales in the Houston metropolitan area set a monthly record in November and have already surpassed 2003's year-to-date sales totals, according to statistics released by the Houston Association of Realtors Multiple Listing Service. more...
By Inman News, Tuesday, December 21, 2004. Long-term mortgage interest rates were lower Monday, and the benchmark 10-year Treasury bond yield dipped to 4.19 percent. The 30-year fixed-rate average slipped to 5.32 percent, and the 15-year fixed-rate dropped to 4.75 percent. The 1-year adjustable was up at 3.44 percent. The 30-year Treasury bond yield fell to 4.81 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. more...
By Robert Bruss, Tuesday, December 21, 2004.
DEAR BOB: We own rental property that is now paid off and fully depreciated, but giving us little tax write-off. We would like to take out about $150,000 equity to refinance a new mortgage. Will the IRS let us again write off the interest on such a new loan? Are there any limitations how the $150,000 can be spent, such as remodeling our current residence? – Mr. R.V. DEAR MR. R.V.: There are no restrictions on refinancing investment and business property, or on the use of the funds obtained from the refinancing. Yes, the mortgage interest will be tax deductible. more...
By Barry Stone, Tuesday, December 21, 2004.
Dear Barry, We are currently buying a home and just had a home inspection. At the time, the crawlspace below the building was flooded, and the sump pump was not working. Because of this, our inspector could not go under the house. Now that the pump is fixed, we'd like the inspector to go back under, but our agent says this is not necessary. The termite inspector is scheduled to come back and check the substructure, and we'd like our home inspector to do the same. Should we demand further inspection or trust the advice of our agent? – Deborah more...
|
