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Mortgage rates saved from hike

By Lou Barnes, Thursday, June 3, 2004.

Another very healthy employment report this morning should have taken mortgage rates above 6.5 percent, but we have been rescued by a new charm offensive from the Fed.

May payrolls gained 248,000 jobs, close to forecast, but the immensely strong, 652,000-job gain in March and April together was revised upward by an additional 75,000 workers. Employment is increasing in all sectors, in hours worked, in overtime, and in earnings.  more...

Houston mall sold

By Inman News, Thursday, June 3, 2004.

Transwestern Commercial Services represented RPM Investments Inc. in the sale of Woodlake Square Shopping Center, a 205,522-square-foot retail center in Houston, Texas.

The value of the transaction was $23.4 million.

Originally built in 1973 and remodeled in 1998, Woodlake Square is located at 9600 Westheimer in Westchase and is anchored by Randall's and Walgreen's.

At the time of the sale the property was more than 90 percent occupied.

George Cushing of Grubb & Ellis represented the buyer, Woodlake Enterprises Ltd., in the transaction.  more...

Berwind buys New Jersey warehouse

By Inman News, Thursday, June 3, 2004.

Berwind Property Group purchased 51 Commerce Drive, an approximately 269,000-square-foot warehouse facility in South Brunswick, N.J.

The value of the transaction was not disclosed.

The property is a one-story warehouse facility that includes approximately 10,000 square feet of office space.

At the time of sale, the property was 58 percent occupied, with 110,078 square feet of available space.

Jerry Fennelly of NAI Fennelly represented the unidentified buyer in the transaction.  more...

Technology co. acquires L.A. digs

By Inman News, Thursday, June 3, 2004.

Lee & Associates-LA North/Ventura negotiated the sale of a 63,000-square-foot office building in Beverly Hills, Calif.

The value of the transaction was approximately $12.7 million.

Built in 1963 and renovated in 1997, the five-story building is located at 8447 Wilshire Blvd.

Trevor Belden and Scott Romick, principals in the firm's LA North/Ventura office, represented the buyer, 8447 Wilshire Blvd. Associates LLC. Jeff Resnick of First Property represented the seller, Koar Technology.  more...

Real estate battle in Chicago intensifies

By Jessica Swesey, Thursday, June 3, 2004.

The Multiple Listing Service of Northern Illinois leveled its latest punch in the duke out with real estate brokers in the Chicago area.

MLSNI will enforce an all-in or all-out policy regarding brokerage firms' participation in the MLS after three large Chicago-area realty brokerages pulled listings from certain offices, Inman News has learned.

The MLSNI board of directors this week approved a motion to require that if a brokerage firm participates in the service, all of its offices within the market area must participate.  more...

House of horrors

By Marcie Geffner, Thursday, June 3, 2004.

Some people will do just about anything to make a buck, including terrifying homeowners and home buyers out of their wits. In ever-increasing numbers, vendors and retailers are crossing the line in their use of scare tactics to sell home-related products and services.

Take Housemaster as an example. The home inspection systems franchise company this week announced a book that aims to help home buyers and sellers understand the components of a home and evaluate whether repairs are necessary during the home-buying process.  more...

Innovations in real estate property valuations

By Inman News, Thursday, June 3, 2004.

Arizona real estate lands online

By Inman News, Thursday, June 3, 2004.

Planet IDX, an Internet data exchange and virtual office Web site technology provider, has launched VOW 2.0 in Phoenix. The system offers home buyers the ability to search thousands of home listings from the Arizona Regional Multiple Listing Service at the participating broker or agent's Web site.  more...

'Right plan' to real estate fast track Premium Content

By Bernice Ross, Thursday, June 3, 2004.

(Part 4 of a four-part series. See Parts 1, 2 and 3.)

Even if you have the best training, the perfect personality and the best systems, you still need the right tools and the right plan to succeed in our highly competitive business.  more...

RE/MAX Relocation redesigns Web site

By Inman News, Thursday, June 3, 2004.

RE/MAX Relocation has redesigned its Web site to give corporations and transferees faster and easier access to information about their relocations.

The makeover includes Servicengine, a Web-based relocation management system that tracks the relocation process. This software enhances communication with relocation program participants and provides a centralized database for information regarding the move in process.  more...

Web service adds foreclosure sales

By Inman News, Thursday, June 3, 2004.

Hopewell Township, Pa.-based ServiceLink, a centralized closing management company, has formed AssetLink LP, an independent subsidiary that will focus on selling bank-owned properties acquired through mortgage foreclosures.

Ken Westfall, a 25-year veteran of the asset management and disposition industry, who pioneered broker price opinions and real estate-owned outsourcing, is AssetLink's president.

AssetLink will operate as a community of brokers, lawyers and other mortgage default service providers who will manage the REO process from investor relations and asset  more...

Real estate: The week ahead

By Inman News, Thursday, June 3, 2004.

  • The International Association of Privacy Professionals will host the Privacy Futures conference in San Francisco, June 9-11. The event will focus on technology and policy innovation in consumer privacy.

  • The American Institute of Architects' National Convention and Design Expo is slated for June 10-12, in Chicago.  more...

Real estate values drive consumer spending

By Inman News, Thursday, June 3, 2004.

Housing prices have been a major driver in accelerated consumer spending over the past year, according to an index of consumer spending calculated by Deloitte Research. The pace of consumer spending has more than doubled in the past year, rising from 2 percent to over 4 percent, according to Deloitte Research's Leading Index of Consumer Spending. Deloitte is a professional services firm that offers audit, tax, financial advisory and consulting services.  more...

BridgeSpan assets bought

By Inman News, Thursday, June 3, 2004.

An affiliate of Hall Financial Group has purchased financially troubled mortgage technology company BridgeSpan through successful confirmation of a plan of reorganization. BridgeSpan and its California-based title company in January filed Chapter 11 bankruptcy.  more...

Fed eases Canadian lumber tariffs

By Inman News, Thursday, June 3, 2004.

California home builders on Thursday applauded the decision by the U.S. Commerce Department to cut tariffs on Canadian softwood lumber imports in half.

Noting that California builders use "in excess of $6 billion worth of wood a year" in constructing 200,000 new homes and apartments, Sherman D. Harmer Jr., president of the California Building Industry Association and a San Diego home builder, said Thursday's action is an important step.  more...

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