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Cendant mortgage sale falls apart

By Inman News, Monday, August 16, 2004.

Cendant Corp. has ended talks with an unnamed potential buyer of its mortgage business, but the company is still looking to sell that unit, Cendant announced Tuesday afternoon.

Cendant had announced in July that it was in discussions with a potential buyer, but did not reveal the buyer's name then or in the current announcement. After the first announcement, some observers speculated that home loan giant Countrywide Financial was the expected buyer.  more...

Partnership plans SoCal mixed-use complex

By Inman News, Monday, August 16, 2004.

A&B Properties Inc., the real estate development and management subsidiary of Alexander & Baldwin, will develop a 62,000-square-foot retail/office complex on a 6.5-acre parcel in Valencia, Calif., in a joint venture with Intertex General Contractors.

Construction is expected to begin in the first quarter of 2005, at an estimated cost of $11 million, with completion projected for the 2nd quarter of 2006.  more...

Joint venture to redevelop Army base

By Inman News, Monday, August 16, 2004.

Corporate Office Properties Trust, in a joint venture with PenMar Development Corp., recently signed an agreement under which it contracted to purchase the former Fort Ritchie United States Army base in Cascade, Md.

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

Drug maker expands in Massachusetts

By Inman News, Monday, August 16, 2004.

NAI Hunneman Commercial inked a lease agreement to a pharmaceutical company for a 58,500-square-foot biotech manufacturing facility in Tewksbury, Mass.

The value of the transaction was not disclosed.

Watertown, Mass.-based Acusphere, a specialty company that develops new drugs and improved formulations of existing drugs, will expand its manufacturing operations to 890 East Street in Tewksbury. The firm will keep its headquarters in Watertown.  more...

Builders' stocks regroup after slide Premium Content

By Glenn Roberts Jr., Monday, August 16, 2004.

Some major home builders rode out mild slumps during a period of interest-rate gains and are now enjoying stock-price stabilization or growth as interest rates have crept back down. Housing starts are up 8.3 percent nationwide from June 2004 to July 2004, and building permits are up 5.7 percent, the U.S. Census Bureau and U.S. Department of Housing and Urban Development reported today, which is good news for the building industry.  more...

Rookie Realtor finds disclosure panacea

By Inman News, Monday, August 16, 2004.

I've been amazed at the number of letter writers who've taken time out of their busy schedules to comment on my column from last week, which wondered whether the presence of an Islamic mosque needed to be disclosed to a home buyer.

It's particularly interesting to note that about half the letters that Inman News has published say such a disclosure is required, while the other half suggest that it's not only unnecessary but might even violate federal fair-housing laws.

So, if even veteran real estate agents can't agree on what types of things must be disclosed, what's  more...

Technology brings more competition to foreclosures Premium Content

By Glenn Roberts Jr., Monday, August 16, 2004.

Editor's note: With experts predicting foreclosures to rise in the next year, many in the industry already have new strategies in place for how they'll manage this market change. This three-part series explores new technologies in play for lenders, investors and real estate agents who work with foreclosed properties.  more...

RE/MAX appoints SVP

By Inman News, Monday, August 16, 2004.

Freddie Mac extends mortgage relief to hurricane victims

By Inman News, Monday, August 16, 2004.

Families whose homes have been damaged or destroyed by Hurricane Charley or Tropical Storm Bonnie can seek mortgage relief designed to protect their credit ratings and financial interests in their homes, Freddie Mac announced Monday.  more...

Housing starts gain in July

By Inman News, Monday, August 16, 2004.

Housing starts and building permits were up in July compared with June data, the U.S. Census Bureau and U.S. Department of Housing and Urban Development announced today, while the rate of housing completions dropped.  more...

Real estate industry lax on privacy

By Inman News, Monday, August 16, 2004.

Less than half of those responding to a recent Inman News poll feel the real estate industry is being responsible enough about protecting consumer privacy.

Of the respondents, 40 percent said the industry is being responsible about consumer privacy, while about 29 percent said it is not. Almost as many – 26 percent – said they weren't sure. About 9 percent specified 'other' in answer to the question.

A few survey respondents elaborated on their answers, with a couple mentioning problems they've seen surrounding privacy.  more...

Massachusetts enjoys real estate boom Premium Content

By Inman News, Monday, August 16, 2004.

The Massachusetts housing market posted its most active second quarter ever this year as economic expansion, rising consumer confidence and a spike in interest rates in the second quarter fueled strong buyer demand and record sales of both detached single-family homes and condominiums, according to data issued by the Massachusetts Association of Realtors.

Prospective home buyers also were drawn to the market by the largest supply of listings in six years, but that did little to ease the pressure on home prices, which rose for a 44th consecutive quarter, the association reported.  more...

Overnight mortgage rates hold steady

By Inman News, Monday, August 16, 2004.

Long-term mortgage interest rates were flat Monday, and the benchmark 10-year Treasury bond yield gained to 4.26 percent.

The 30-year fixed-rate average remained at 5.46 percent, and the 15-year fixed-rate nudged up to 4.88 percent. The 1-year adjustable was unchanged at 3.24 percent.

The 30-year Treasury bond yield climbed to 5.05 percent.

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

Decoding real estate inspections

By Robert Bruss, Monday, August 16, 2004.

The cover of "Inspecting a House, Third Edition" by Alan Carson and Robert Dunlop says: "A guide for buyers, owners, and renovators." That's correct. But a better description would explain the book provides a very thorough explanation of what to anticipate when inspecting a house and what the results mean.  more...

Heating-system placement wipes out mold

By Barry Stone, Monday, August 16, 2004.

Dear Barry,  more...

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