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EastGroup enters San Antonio market

By Inman News, Tuesday, August 10, 2004.

EastGroup Properties acquired the 253,000-square-foot Alamo Downs Distribution Center in San Antonio, Texas.

The value of the transaction was $8.4 million.

Alamo Downs is a two-building, business distribution complex, which was constructed in two phases in 1986 and 2002.

At the time of sale, it was 59 percent leased to seven tenants.  more...

REIT buys in Pennsylvania

By Inman News, Tuesday, August 10, 2004.

Marcus & Millichap negotiated the sale of the 84,000-square-foot Forks Town Center in Forks Township, Pa.

The value of the transaction was $18.9 million. 

Forks Town Center is a 1-year-old grocery-anchored shopping center located on Sullivan Trail.

Wargo Properties sold the Giant Food-anchored property to a private real estate investment trust.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

***  more...

Bascom lands Northern California apartments

By Inman News, Tuesday, August 10, 2004.

Bascom Northwest Ventures purchased the 67-unit Park Terrace Apartments in Lafayette, Calif.

The value of the transaction was $8.5 million.

Park Terrace was constructed in 1964 and consists of (30 percent) 1-bedroom, 1-bath flats of approximately 750 square feet; (48 percent) 2-bedroom, 1-bath flats at 825 square feet; (21 percent) 2-bedroom, 1.5 bath townhomes at 1,025 square feet; and (1 percent) 3-bedroom, 1.5-bath townhomes at 1,450 square feet.  more...

Disclosure laws irk Rookie Realtor Premium Content

By Inman News, Tuesday, August 10, 2004.

Are real estate disclosures finally getting out of hand?

I've been thinking about that question a lot lately, after I heard about a Realtor who was threatened with a lawsuit for failing to tell his buyers that an Islamic mosque was located around the corner from the home that the buyers already had agreed to purchase.

I'm just a rookie real estate agent.  more...

HomeServices grows in North Carolina

By Inman News, Tuesday, August 10, 2004.

HomeServices of America, a Berkshire Hathaway affiliate, has acquired Winston-Salem, N.C.-based Graham & Boles Properties.

Graham & Boles is the third largest residential real estate brokerage in the Triad area of North Carolina, according to HomeServices. Following the acquisition, the brokerage will merge with Prudential Carolinas Realty, which HomeServices acquired in April.  more...

Man could be forced out of family home Premium Content

By Glenn Roberts Jr., Tuesday, August 10, 2004.

This is a tale of a man living alone in a home in the woods near a pond in the town of Lincoln, Mass., not far, as it happens, from the place where a man wrote a book, published 150 years ago this month, about living alone in a home in the woods near a pond.

Author and naturalist Henry David Thoreau, in his 1854 book, "Walden," described his retreat to nature at Walden Pond, a small glacial lake in the area of Concord and Lincoln, Mass.

"I wanted to live deep and suck out all the marrow of life, to live so sturdily and Spartan-like as to put to rout all that was not life, to  more...

Homeowner's insurance horror stories

By Carol Lloyd, Tuesday, August 10, 2004.

"Come see what an uninsurable property looks like," Mark Christiansen laughed. The 37-year-old graphic artist and his wife, Amy Lodato, were in a mad scramble to get insurance for their 1940 Russo-style duplex in San Francisco's Lone Mountain neighborhood.

Uninsurable? Images run rampant through my mind: A mildewed shack, teeming with rats, perched atop a cliff. A burned-out hovel inhabited by squatters on the edge of a brush-fire zone. A straw-bale house in a flood zone.  more...

Twin Cities real estate prices climb

By Inman News, Tuesday, August 10, 2004.

Dusting off the 'Rust Belt'

By Inman News, Tuesday, August 10, 2004.

New Web site helps homeowners go green

By Inman News, Tuesday, August 10, 2004.

GreenHomeGuide, a community-based guide to environmentally sound home remodeling for Northern California homeowners, will debut on the Internet Aug. 23 at GreenHomeGuide.com.  more...

Real estate loan purchases drop

By Inman News, Tuesday, August 10, 2004.

Overall mortgage applications dropped 0.7 percent last week on a seasonally adjusted basis, despite a decrease in mortgage rates, according to the Mortgage Bankers Association's weekly survey.

The MBA seasonally adjusted purchase index decreased by 2.7 percent to 440 from 452 the previous week. The seasonally adjusted refinance index increased by 2.5 percent to 1,640.5 from 1,600.3 one week earlier.  more...

Overnight mortgage rates barely budge

By Inman News, Tuesday, August 10, 2004.

Long-term mortgage interest rates were mostly flat Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.29 percent.

The 30-year fixed-rate average rose slightly to 5.47 percent, and the 15-year fixed-rate held at 4.9 percent. The 1-year adjustable was unchanged at 3.26 percent.

The 30-year Treasury bond yield inched up to 5.07 percent.

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

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Real estate kickbacks fuel industry competition

By Tom Kelly, Tuesday, August 10, 2004.

Two months ago, I visited several homes on a weekend open house tour in an attempt to gauge how prices had risen in a specific area.

While passing through a couple of homes, I commented to the veteran real estate agents hosting "the open" that the amount and quality of food for visiting potential buyers was impressive. One agent said:

"Isn't it great? Thank goodness I don't have to pay the bill...I'll take what's left home to my grandkids."  more...

Homeowner seeks recourse against aloof loan servicer

By Robert Bruss, Tuesday, August 10, 2004.

DEAR BOB: What recourse do I have against my new mortgage loan servicer who failed to pay my homeowner's insurance on time from my escrow account funds? When my loan servicing was transferred, I contacted the new loan servicer to be certain my insurance would be paid on time out of my escrow account. To make a long story short, after numerous requests by my insurance agent and myself, the new loan servicer eventually paid but only after my insurance was cancelled and had to be reinstated. I am furious. As a homeowner, what recourse do I have against my new loan servicer?  more...

Plumbing fix stops squealing pipes

By Bill and Kevin Burnett, Tuesday, August 10, 2004.

Q: We recently remodeled both of our bathrooms. We also replaced our 40-gallon water heater with a 50-gallon one. Our ranch-style house was built in the 1950s. At times, we hear a loud, high-pitched noise, like squealing. It seems to come from the valves on the new water heater. I just had them replaced, but the noise still comes and goes. Any idea what this could be? Are plumbing lines ever bled to relieve pressure?  more...

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