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Advice for the Rookie Realtor

By Inman News, Tuesday, July 6, 2004.

Re: 'Rookie Realtor doing 'floor time'' (July 7)

Dear Rookie:

I enjoy your column, and sympathize with you in your floor-time jail. However, I have some advice. I didn't hear you mention anything about answering e-mails for potential buyers. Ninety percent of all buyers now use the Internet to look for homes and a Realtor. I work for Homestore but do not work for Realtor.com , so I have nothing to gain here, but I am just wondering if y'all have a heavy online presence?  more...

Heritage grows Mid-Atlantic holdings

By Inman News, Tuesday, July 6, 2004.

Heritage Property Investment Trust purchased Colonial Commons Shopping Center, a 498,000-square-foot retail property located in Harrisburg, Pa.

The value of the transaction was approximately $63 million.

Colonial Commons is situated on approximately 37 acres and is located at the intersection of Route 22 and Devonshire Road.  more...

Wells sells Georgia properties

By Inman News, Tuesday, July 6, 2004.

Wells Real Estate Funds sold 880 Holcomb Bridge, a 49,530-square-foot retail development, and Brookwood Grill, a 7,440-square-foot restaurant in Roswell, Ga.

The total value of the transactions was $9.5 million.

Fund II, III, VI and VII Associates, a joint venture that shared ownership among Wells Limited Partnership Fund II, Wells Limited Partnership Fund II-OW, Wells Limited Partnership Fund III, Wells Limited Partnership Fund VI and Wells Limited Partnership Fund VII, sold the Holcomb Bridge property.  more...

Real estate joint venture expands in Boston

By Inman News, Tuesday, July 6, 2004.

A joint venture between The Praedium Group and Essex River Ventures acquired two office buildings totaling 127,732 square feet in Boston.

The total value of the transactions was $19.6 million.  more...

No agreement on real estate market Premium Content

By Samantha Peterson, Tuesday, July 6, 2004.

Editor's note: The housing bubble debate has grown louder in recent weeks. Rather than add to the mix of confusing stories that attempt to decide who's right and who's wrong, this four-part series takes a closer at look at the numbers, what's happening in specific markets and how the media is relaying the message.  more...

Internet buyers mean business

By Marcie Geffner, Tuesday, July 6, 2004.

Real estate brokers and agents didn't exactly welcome the Internet when it burst onto the scene a decade ago. But since then, they've turned what appeared to be a threat into an opportunity. A round of applause is in order.

Real estate still harbors pockets of downright stubborn resistance to both the Internet in particular and technology in general.  more...

CEO confidence remains strong

By Inman News, Tuesday, July 6, 2004. Chief executives' confidence in the nation's economy dipped slightly in the second quarter, The Conference Board reported today.

The index used to measure executive confidence dipped to 70 points in the second quarter after it surged to 73 points in the first quarter of 2004.  more...

Real estate dictatorships threaten 'American Dream'

By Carol Lloyd, Tuesday, July 6, 2004.

(This is Part 2 of a two-part series. See Part 1: Homeowners wage war on real estate dictatorship.)

Last week, I reported on the convoluted and sometimes baffling war over the fate of the Westlake Subdivision Improvement Association, the homeowners association (HOA) for 6,500 homes in Daly City, Calif. At the heart of the struggle was U.  more...

Online real estate documents get electronic stamps

By Inman News, Tuesday, July 6, 2004.

A company specializing in Web-based document management for the real estate industry is integrating the U.S. Postal Service's electronic postmarks into its services. The move will make it easier for real estate agents to present, sign and deliver contracts in real time.

Ontario, Canada-based Concepts in Data Management has purchased a block of electronic postmarks for use with its TransactionDesk service, which enables real estate agents to manage contracts electronically.  more...

Long & Foster posts record real estate sales

By Inman News, Tuesday, July 6, 2004.

The Long & Foster Cos. reported that total June sales for all of its companies reached a record $6.7 billion for the month, surpassing the previous record of $6 billion in March 2004.  more...

Sotheby's real estate affiliations for sale

By Inman News, Tuesday, July 6, 2004.

The Sotheby's brand is now set to expand. Managers at Sotheby's International Realty Affiliates, Inc. announced today that the company is now authorized to sell franchise affiliate memberships in 47 states, with registration still pending in Maryland, Minnesota and North Dakota.  more...

Countrywide launches home finance Web site

By Inman News, Tuesday, July 6, 2004.

Countrywide Home Loans and PreviewProperties.com have partnered to launch Propertymortgage.com, a Web site service for home buyers in southern Michigan.

Propertymortgage.com, an operating division of Countrywide Mortgage Ventures, will offer qualified home buyers zero downpayment loans and a variety of fixed- and adjustable-rate options with flexibility on rate and terms.

The Web site also will offer "Fast & Simple," a special program that enables qualified borrowers to access a streamlined loan appli  more...

Borrowers put money in real estate

By Inman News, Tuesday, July 6, 2004.

Overall loan applications increased 19.5 percent last week, according to the Mortgage Bankers Association's weekly survey.

The MBA seasonally adjusted purchase index increased by 15 percent to 500.9 from 435.4 the previous week. The seasonally adjusted refinance index increased by 27.6 percent to 1,769.7 from 1,386.9 one week earlier.

The refinance share of mortgage activity increased to 35.8 percent of total applications from 33.4 percent the previous week.  more...

Mortgage rates dip

By Inman News, Tuesday, July 6, 2004.

Long-term mortgage interest rates were slightly lower Tuesday, and the benchmark 10-year Treasury bond yield fell to 4.47 percent.

The 30-year fixed-rate average dipped slightly to 5.7 percent, and the 15-year fixed-rate slid to 5.11 percent. The 1-year adjustable was down at 3.34 percent.

The 30-year Treasury bond yield dropped to 5.22 percent.

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

HomeServices expands in Southern California

By Inman News, Tuesday, July 6, 2004.

Prudential California Realty, a HomeServices of America company, has acquired the residential real estate brokerage business of Elkins Rothermund Rudman, doing business as Prudential California Realty in Palm Desert and La Quinta.

The value of the transaction was not disclosed.  more...

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