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The Bluffs sells in Rancho Bernardo

By Inman News, Sunday, May 23, 2004.

Dallas-based Prentiss Properties Acquisition Partners purchased The Bluffs, a 4-story, 68,600-square-foot class A office building, in Rancho Bernardo, Calif.

The value of the transaction was $17.8 million.

The multitenant office property is located on a 3.4-acre parcel at 16870 West Bernardo Drive.

The seller was 16870 Bernardo Partners LP, in care of The McDonald Group.

At the time of sale, The Bluffs was 72 percent occupied. Major tenants include The University of Phoenix, Wachovia and First Choice Executive Suites.  more...

Carpet-maker settles in Orange County

By Inman News, Sunday, May 23, 2004.

Grubb & Ellis represented Royalty Carpet Mills, an Irvine-based carpet manufacturer, in the purchase of a 372,096-square-foot industrial building in Santa Ana, Calif.

The transaction was valued at more than $21 million.

The building, which is located at 515 E. Dyer Road in the Dyer Road Industrial Center, will be used for expansion of its manufacturing and distribution operations. Royalty Carpet is slated to occupy the facility in August 2004.  more...

Bascom buys Harbor Cove

By Inman News, Sunday, May 23, 2004.

Irvine, Calif.-based The Bascom Group acquired a 161-unit oceanfront apartment community known as the Harbor Cove Apartments in Redondo Beach, Calif.

The value of the transaction was $26 million.

Lyon Trust was the seller of the property, located at 211 Yacht Club Way.  more...

General Motors sues LendingTree

By Jessica Swesey, Sunday, May 23, 2004.

General Motors is suing online lending exchange LendingTree in a lawsuit that alleges trademark infringement and cyberpiracy.

The giant automaker last week asked a federal court in the Eastern District of Michigan to block LendingTree from using the Web site, www.gmac.realestate.com, to promote its lending services because the domain name is almost identical to GMAC's www.gmacrealestate.com.  more...

Real estate customers for life Premium Content

By Glenn Roberts Jr., Sunday, May 23, 2004.

An upstart company aims to lock in real estate agents' and brokers' customers with long-term contracts for future home sales and purchases.

PreList America, which opened for business less than a year ago, allows agents to enter into legally binding contracts with homeowners for future business.  more...

Blogging for real estate Premium Content

By Jessica Swesey, Sunday, May 23, 2004.

Real estate agents nationwide know there's more to a blog than its funny name. In fact, many have built blogs and are using them to reach out to consumers and catch some attention from search engines.

A blog–short for Web log–is a simple Web page in which the creator and others post short entries that stack on top of each other chronologically. Some blogs have themes and purposes like the real estate blogs mentioned in this story.  more...

House horrifies Rookie Realtor

By Inman News, Sunday, May 23, 2004.

And to think that I saw it on Mulberry Street.

If I had a dollar for every time I've read that line from Dr. Seuss's book to my children, I'd probably be a millionaire. And if I had another buck for every time my kids read it back to me, I'd be a billionaire.

Alas, nobody gets paid for reading to their kids–and kids don't get paid for reading books to their parents.  more...

Voters worried about real estate prices

By Inman News, Sunday, May 23, 2004.

The lack of affordable housing is hurting the economy, said a majority of respondents to a survey conducted for the National Association of Realtors.  more...

Fair Isaac acquisition advances

By Inman News, Sunday, May 23, 2004.

Fair Isaac Corp., a leading provider of analytics and decision technology, has received valid acceptance for about 88 percent of shares of London Bridge Software Holdings.

As of May 21, Fair Isaac controlled or had received acceptances for 91.9 percent of London Bridge outstanding share capital.

Fair Isaac received U.S. regulatory approval clearance for the acquisition May 12. The company expects the acquisition to close this week.  more...

Real estate data co. gets funding

By Inman News, Sunday, May 23, 2004.

Fannie to help housing finance

By Inman News, Sunday, May 23, 2004.

Fannie Mae announced it will make its MyCommunityMortgage product available to housing finance agencies. The product can be used to supplement mortgage revenue bond programs some housing finance agencies use to serve an increasingly diverse population of low- and moderate-income borrowers and communities.

The availability of MyCommunityMortgage for these agencies was announced Friday at the National Council of State Housing Agencies Spring Workshops in Portland, Ore.  more...

New York real estate makes gains

By Inman News, Sunday, May 23, 2004.

Sales of existing single-family homes in New York increased 4 percent in April from the same month a year ago, according to preliminary single-family sales data accumulated by the New York State Association of Realtors. The preliminary data showed a median selling price increase of nearly 23 percent, compared to the same period a year earlier.

The April 2004 sales total of 6,752 represents a 4-percent increase compared to the April 2003 sales total of 6,490. The April 2004 sales total rose 1.6 percent from the 6,648 sales total posted in March 2004.  more...

Overnight interest rates dip

By Inman News, Sunday, May 23, 2004.

Long-term mortgage interest rates were slightly lower Friday, and the benchmark 10-year Treasury bond yield increased to 4.76 percent.

The 30-year fixed-rate average slipped to 5.99 percent, and the 15-year fixed-rate decreased to 5.36 percent. The 1-year adjustable was unchanged at 3.49 percent.

The 30-year Treasury bond yield rose to 5.46 percent.

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

What is a mortgage junk fee?

By Robert Bruss, Sunday, May 23, 2004.

DEAR BOB: We recently refinanced our home mortgage to lower the interest rate and take out cash to pay off all our credit-card debt. But, at the last minute before we were expected to sign the loan papers, the mortgage broker's documents she gave us showed large fees we had never heard of before. Because we were refinancing, we told the broker we didn't want to pay any loan fee points, which, as you explained many times, can only be deducted over the life of the refinanced mortgage.  more...

How can I improve my real estate purchase offer?

By Dian Hymer, Sunday, May 23, 2004.

Few failed endeavors can match the frustration of losing out in a multiple-offer competition. But, almost as disappointing is making the only offer–and a strong one–and having the seller outright reject it. Here are a few tips on how to sweeten your offer without jeopardizing your financial security.  more...

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