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Briarwood Square changes hands

By Inman News, Monday, March 1, 2004.

Marcus & Millichap arranged the sale of the 194-unit Briarwood Square Apartments in Stanton, Calif.

The value of the transaction was $24.6 million.

Briarwood Square Apartments is located at 7545 Katella Ave. The class B garden-style property was constructed in the 1970s and encompasses 173,088 rentable square feet. The unit mix is comprised of 80 one-bedroom and 114 two-bedroom apartment homes, ranging in size from 686 to 1,088 square feet.

A Napa, Calif.-based private investor sold the property to San Francisco-based Carmel Partners.  more...

Transwestern negotiates Texas office deal

By Inman News, Monday, March 1, 2004.

Transwestern Commercial Services brokered the sale of AmberOaks Corporate Center, an eight-building office complex in Austin, Texas.

The value of the transaction was not disclosed.

The property, located at Palmer Lane and Highway 620, was developed in three phases ultimately totaling more than 488,000 square feet

AmberJack Ltd. sold the property to an undisclosed investor.

At the time of sale, the property was 86 percent leased.

Transwestern Commercial Services is a privately held, full-service commercial real estate company.  more...

Con-Way expands corporate headquarters

By Inman News, Monday, March 1, 2004.

NAI Hiffman represented Con-Way Logistics, a contract supply chain execution service provider, in a major headquarters and regional distribution center expansion in Aurora, Ill.

The value of the transaction was not disclosed.

Con-Way Logistics, an operating company of Ann Arbor, Mich.-based Con-Way Transportation Services Inc., will occupy an additional 128,000 square feet at 2759 North Eola Road, also known as Butterfield III.  more...

U.S. real estate prices shift higher

By Inman News, Monday, March 1, 2004.

Average U.S. home prices increased 8 percent during 2003, and appreciation for the fourth quarter was 3.7 percent, or an annualized rate of 14.7 percent, according to figures released today from the Office of Federal Housing Enterprise Oversight's House Price Index.  more...

The Rookie Realtor Premium Content

By Inman News, Monday, March 1, 2004.

"Hi! I'm your local real estate agent. I just wanted to drop by today to introduce myself, and let you know that I'm an expert when it comes to buying or selling a home in our neighborhood. If you're thinking about buying or selling, or if you know anyone else who's in the market to buy or sell, I hope you'll give me a call."  more...

RE/MAX joins fight against cardiac arrest

By Inman News, Monday, March 1, 2004.

In an effort to encourage a safer office environment for agents and clients, RE/MAX International is recommending that all RE/MAX offices install AED (automated external defibrillator) devices. Several sources of training for employees and agents on the devices are also part of the new initiative.  more...

Urban redevelopment hits real estate snag Premium Content

By Inman News, Monday, March 1, 2004.

The difficulty of land assembly and acquisition in close-in urban neighborhoods remains a chief impediment to urban redevelopment, particularly when the land use is being changed to accommodate housing or a mix of uses, according to a group of industry experts recently assembled by the Urban Land Institute.  more...

HUD's mortgage reform will increase loan costs

By Inman News, Monday, March 1, 2004.

The mortgage broker compensation disclosure the Department of Housing and Urban Development proposed in its Real Estate Settlement Procedures Act (RESPA) reform will cause consumer confusion and mistaken loan choices that will increase mortgage costs for many consumers, a study released by the Federal Trade Commission concluded.

HUD's July 2002 proposal included a requirement that mortgage brokers must disclose certain types of compensation in a home loan transaction.  more...

Stewart buys another title co.

By Inman News, Monday, March 1, 2004.

Stewart Title of California has acquired the remaining 20 percent interest in the Cuesta Title offices in Tulare and Kings counties in central California. Terms of the acquisition were not released.

Existing key management and staff will remain, including former owner and president Scott Collins, who will become a division president for Stewart Title of California. There are 43 employees in the three offices, which have been renamed Stewart Title.

Stewart had purchased an 80 percent interest in Cuesta Title Co. in March 2001.  more...

Apartment industry looks cautiously at broadband

By Susan Ashworth, Monday, March 1, 2004.

A year or so ago, it wasn't surprising to see new tenants rushing to sign up for new digital cable services or ordering high-speed DSL. That was the reality, until recently.

Today, the apartment and condominium industry looks a bit different, with a slowly recovering economy and ongoing cost-cutting measures pushing some to take a step back from the broadband revolution.  more...

Overnight mortgage interest rates hold steady

By Inman News, Monday, March 1, 2004.

Long-term mortgage interest rates were virtually unchanged Friday, and the benchmark 10-year Treasury bond yield slid to 3.98 percent.

The 30-year fixed-rate average inched lower to 5.25 percent, and the 15-year fixed-rate remained at 4.54 percent. The 1-year adjustable rose to 3.18 percent.

The 30-year Treasury bond yield decreased to 4.85 percent.

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

Good-faith deposit may seal real estate deal

By Robert Bruss, Monday, March 1, 2004.

DEAR BOB: Thanks for your great advice about six months ago regarding the good-faith deposit amount a home buyer should include with his/her purchase offer. You said a big deposit check often makes up for a low purchase offer. Last month we offered to buy a house that had been listed for sale since November. Based on our experience inspecting other nearby homes for sale and having our bid on another house rejected by its seller, we knew the house we wanted to buy was priced far above market value.  more...

How do I decide between adjustable or fixed loan?

By Jack Guttentag, Monday, March 1, 2004.

"I am trying to choose between a 3/1 adjustable-rate mortgage at 4.625 percent and a fixed-rate mortgage at 5.875 percent, both 30 years. I don't expect to be out of my house within three years. What is the best way to make this decision?"

Whether the adjustable-rate mortgage (ARM) or fixed-rate mortgage (FRM) turns out better depends on what happens to interest rates in the future, which no one knows. Shoppers faced with this decision should ask themselves, "Is this a risk worth taking," and "can I afford to take it?"  more...

How much should I spend getting my home ready to sell?

By Dian Hymer, Monday, March 1, 2004.

It's no mystery that listings that are in great shape usually sell for more than those that are in sub-prime condition. But, is it really necessary to fix up your home for sale? Won't the buyers want to fix up the house the way they want it?

Sellers are often resistant to the notion of investing time and effort in a property that will soon no longer be theirs. Yet, time and again, sellers who properly prepare their homes for sale reap the benefits in terms of a faster sale and a higher sale price.  more...

Real estate tip: Even friends can hold joint title

By Inman News, Monday, March 1, 2004.

You can hold title as joint tenants. This type of ownership gives two or more unrelated people equal shares in a piece of property, with rights passing to the surviving owners.

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