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Advice for the Rookie Realtor

By Inman News, Friday, March 26, 2004.

Dear Rookie,

  • Have preapproval letter in hand prior to showing property.

  • Let the buyer know up front what to expect.

  • Let them know they must be honest with their lender so he/she will know where to begin looking for his/her loan. Let them know all details will come out prior to close of escrow.

  • Ask the listing agent what the seller would consider a "perfect" offer...and then write it.  more...

    • Lexington buys Texas portfolio

    By Inman News, Friday, March 26, 2004.

    Lexington Corporate Properties Trust acquired four properties totaling 1.06 million square feet in the Houston, Texas, area.

    The total value of the transactions was $119.3 million.

    The portfolio consists of office, research and development and manufacturing space, and includes the WesternGeco World Headquarters building (Houston), the Hughes Christensen World Headquarters building (Houston), the Baker Petrolite World Headquarters building (Sugar Land) and the Baker Hughes Worldwide Training/Worldwide Data Facility (Houston).  more...

    Pan Pacific lands Anaheim Plaza

    By Inman News, Friday, March 26, 2004.

    Grubb & Ellis represented Pan Pacific Retail Properties, a Vista, Calif.-based real estate investment trust, in the purchase of a 492,000-square-foot shopping center in Anaheim, Calif.

    The transaction was valued at $57 million.  more...

    Marcus & Millichap completes north Florida sale

    By Inman News, Friday, March 26, 2004.

    Marcus & Millichap arranged the sale of the 70,040-square-foot Paradise Shoppes at Navarre in Navarre, Fla. 

    The value of the transaction was $11.5 million.

    A Florida-based developer sold the property to a West Palm Beach investor.

    The newly developed Paradise Shoppes at Navarre is located at 8244 Navarre Parkway. The property was constructed in 2003 on 10 acres.

    At the time of sale, tenants in the fully occupied center included Publix, Radio Shack, Hungry Howies and Firehouse Subs.  more...

    Lawsuit over exclusive listing offer

    By Jessica Swesey, Friday, March 26, 2004.

    An independently owned Coldwell Banker brokerage company in Des Moines, Iowa, has accused a local competitor of anti-competitive practices in conjunction with a new incentive program used to attract exclusive home listing agreements. The Coldwell Banker company leveled the charge in a federal lawsuit filed Thursday.  more...

    Mortgage rates expected to rise on job report

    By Lou Barnes, Friday, March 26, 2004.

    Rates are rising today, for the first time this month, in reaction to actual news and fear of next week's news. Mortgages have the potential quickly to depart March's sub-5.5 percent range in favor of the 6 percent-ish level of the prior four months.

    The damage has been done by reports of a surprise, though modest, improvement in confidence among consumers, and that the Fed may be succeeding in its effort to increase the inflation rate (to "reflate") from too-low, sub-1 percent territory.  more...

    Builders urge Congress to extend flood insurance program

    By Inman News, Friday, March 26, 2004.

    The nation's home builders today called on Congress to reauthorize the National Flood Insurance Program (NFIP) for five years and for the Federal Emergency Management Agency (FEMA) to address repetitive loss properties in order to ensure the long-term viability of the program.  more...

    Fed to offer affordable housing incentives

    By Inman News, Friday, March 26, 2004.

    The Department of Housing and Urban Development this week announced it would create a new funding incentive to encourage state and local communities to remove excessive regulations that inhibit the production of affordable housing.  more...

    Demographics determine real estate destiny

    By Marcie Geffner, Friday, March 26, 2004.

    The U.S. Census Bureau last week predicted that the population of the United States will expand 49 percent from 282 million residents four years ago to 420 million people 45 years from now.  more...

    Coldwell Banker's Blue Edge survives

    By Glenn Roberts Jr., Friday, March 26, 2004.

    Coldwell Banker's Blue Edge Realty, a seller-side discount brokerage launched in 2001, is no longer operating as a separate company, but it is a continuing option that Coldwell Banker offers home sellers in the capital area of Illinois. Blue Edge services are also offered through the North Hills office of Coldwell Banker Pittsburgh in Pittsburgh, Pa.  more...

    Appraisal Institute gives failing grades to industry regulation

    By Inman News, Friday, March 26, 2004.

    During Congressional testimony Thursday, a representative for the Appraisal Institute handed down a very unfavorable appraisal of industry regulation.  more...

    Golf real estate brokerage seeks Realtors

    By Inman News, Friday, March 26, 2004.

    GolfandHome Inc. has launched a canvassing campaign to seek out the best and brightest golf Realtors to add to its national golf real estate brokerage network.  more...

    Real estate agents capitalize on competitor flaws Premium Content

    By Bernice Ross, Friday, March 26, 2004.

    Worried about competing with the big-name company down the street? How about all those lead generation companies who keep increasing their market share? No matter whom your competitor is, their model does have a "fatal flaw." Finding it and turning it to a competitive advantage will keep you on top.  more...

    Countrywide, RE/MAX form joint venture

    By Inman News, Friday, March 26, 2004.

    Countrywide Home Loans and RE/MAX Properties Unlimited have formed a joint venture, Integrity Home Loans, the companies announced this morning.

    Integrity Home Loans will be an operating division of Countrywide Mortgage Ventures. Integrity will offer more than 130 loan programs, including zero downpayment loans and a variety of fixed and adjustable rate options with flexibility on rate and terms.  more...

    Real estate: The week ahead

    By Inman News, Friday, March 26, 2004.

    • The deadline for the Center for Economic and Policy Research's essay contest, "Why is the run-up in housing prices not a bubble?" is Wednesday, March 31. The Center is offering $1,000 to the most convincing essay and will publish the winner on April 6. More details are available at www.cepr.net.  more...

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