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San Francisco mall sold

By Inman News, Thursday, August 12, 2004.

General Growth Properties (NYSE: GGP) purchased the 915,000-square-foot Stonestown shopping center located in San Francisco, Calif.

The purchase price was $312 million.

The seller was identified only as an "institutional owner."

Stonestown is a two-level mall, originally developed in 1952, and most recently renovated, expanded, and enclosed in 1988.  more...

CRT expands in Florida, Texas

By Inman News, Thursday, August 12, 2004.

CRT Properties purchased two mid-rise office buildings in Jacksonville, Fla., and Houston, Texas. In the aggregate these properties comprise 408,000 square feet.

The total value of the transactions was $40.4 million.  more...

Belfonti sells former Trump property

By Inman News, Thursday, August 12, 2004.

Belfonti Associates, through subsidiary RCM Cincinnati Estates LLC, sold the vacant, 1,200-unit Huntington Meadows Apartment complex in Cincinnati, Ohio.

The value of the transaction was $10 million.

Allen Temple-Tryed Stone Development Ltd. purchased the property, located at 1931 Langdon Farm Road.  more...

Economy poised for slowdown

By Lou Barnes, Thursday, August 12, 2004.

The Fed tightened another .25 percent, and mortgage rates are unchanged in the high fives. Ten-year T-notes, the market driver, have actually improved, down to 4.22 percent. Thus far, the Fed's cumulative action has added .5 percent to the cost of America's home equity lines of credit, but no one seems to mind.  more...

Real estate agents brace for hurricane Premium Content

By Glenn Roberts Jr., Thursday, August 12, 2004.

Michael Bowers, a Realtor in Sarasota, Fla., has seven homes under contract that are scheduled to close within days. Normally that would be cause for celebration. But today, it's cause for worry. Hurricane Charley is bearing down on the western coast of Florida, with Sarasota and other communities potentially in its path.

"I have some real high-end listings," Bowers said today, including a $3 million home on the bay. "I'm (thinking), 'Oh no, here we go.' There's a lot of concern. It's a nervous time.  more...

Florida real estate sales rise 28%

By Inman News, Thursday, August 12, 2004.

Sales of single-family existing homes in Florida remained at record levels during second quarter 2004 with a 28 percent increase in resale activity compared to the same time last year, according to the Florida Association of Realtors.

Statewide, a total of 73,437 homes sold during the second quarter, which surpassed the volume from the same period in 2003 by more than 15,000 homes. The statewide median sales price for second quarter 2004 rose 18 percent to $181,800; a year ago, it was $153,600.  more...

Personal connection grows real estate prospects Premium Content

By Bernice Ross, Thursday, August 12, 2004.

Are you still playing the "Me-Me-Me" show in front of your sellers and buyers? If so, it's costing you thousands of dollars each year.

Do you market your services with a beautiful personal brochure? Do you tell sellers at what price they should list their property because you're the expert? Do you tell potential buyers and sellers they should work with you because your company is number one? If you answered "Yes" to any of these questions, you are losing money because you are focusing on yourself rather than building connection by focusing on the seller or buyer.  more...

EBay buys stake in Craigslist

By Inman News, Thursday, August 12, 2004.

Online auctioneer eBay today said it has acquired an approximate 25 percent stake in Craigslist, an online community that features classifieds and forums. The resulting relationship will allow eBay and Craigslist to share expertise, resources and creativity on behalf of online communities everywhere.

Financial terms of the deal were not disclosed.  more...

Real estate sales, prices grow in New Jersey

By Inman News, Thursday, August 12, 2004.

Second-home real estate prices climb

By Inman News, Thursday, August 12, 2004.

Despite concerns about rising interest rates, the second-home market remains strong, according to a recent study of top second-home markets from EscapeHomes.com.

The median year-over-year price increase for second homes in EscapeHomes.com's Price Index was 22 percent in the first half of 2004. Beach and mountain destinations led the way in appreciation with Holden Beach, N.C., and Park City, Utah, at the top of the list, but all destinations in the index showed robust price appreciation.  more...

Man who assaulted Realtor gets 60-year sentence

By Inman News, Thursday, August 12, 2004.

A man with two prior sexual assault convictions was sentenced this week to 60 years in prison for sexually assaulting a Realtor. On Oct. 23, 2003, Kenneth L. Seay assaulted a Realtor as she was showing him a vacant home in Spartanburg County, S.C., according to local news reports. Seay, 53, was sentenced Thursday for assault with intent to commit criminal sexual conduct and kidnapping.  more...

Real estate: The week ahead

By Inman News, Thursday, August 12, 2004.

OFHEO strengthens oversight of Fannie, Freddie

By Inman News, Thursday, August 12, 2004.

Chicago Title closes real estate loan electronically

By Inman News, Thursday, August 12, 2004.

Chicago Title Insurance Co., part of the Fidelity National Financial family of title companies, successfully closed an "e-Note" mortgage on July 23, 2004, during a standard settlement conference in Lombard, Ill. The borrower, Audrey Edmiston, of Bolingbrook, Ill., affixed her e-signature to each page of the electronic closing package, which was also signed electronically by the notary who witnessed the transaction.  more...

Overnight mortgage rates dip

By Inman News, Thursday, August 12, 2004.

Long-term mortgage interest rates were lower Thursday, and the benchmark 10-year Treasury bond yield sank to 4.25 percent.

The 30-year fixed-rate average sank to 5.49 percent, and the 15-year fixed-rate fell to 4.92 percent. The 1-year adjustable was unchanged at 3.26 percent.

The 30-year Treasury bond yield dipped to 5.04 percent.

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

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