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More college housing sells in Kalamazoo

By Inman News, Wednesday, August 18, 2004.

Hendricks & Partners arranged the sale of Hidden Hills, a 120-unit collegiate housing community in Kalamazoo, Mich.

The value of the transaction was approximately $15 million.

The property, located at 1302 Emajean St., contains a total of 420 bedrooms.

Kalamazoo-based HH Apartments LLC sold the property to a national TIC investor.

Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties.

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Partnership sells Chicago office tower

By Inman News, Wednesday, August 18, 2004.

Atlanta-based WestWind Capital Partners, on behalf of KanAm US Grundinvest Fonds, has acquired an 867,821-square-foot office tower in Chicago.

The value of the transaction was not disclosed.

The property, 333 West Wacker Drive, was 93 percent leased to tenants, such as Nuveen Investments and law firm Skadden, Arps, Slate, Meagher & Flom, at the time of sale.

A joint venture of Beacon Capital Partners' Strategic Partners II Fund and The John Buck Co. sold the class A property.  more...

Weingarten bags Texas retail centers

By Inman News, Wednesday, August 18, 2004.

Weingarten Realty Investors purchased three Texas shopping centers comprising 453,600 square feet in the cities of Laredo and Lubbock.

The total value of the transactions was $59.1 million.  more...

$10,000 reward for catching Realtor's killer

By Inman News, Wednesday, August 18, 2004.

A reward of $10,000 is being offered to any individual who provides information that leads to the arrest and conviction of the person or persons responsible for the death of Garland Taylor, an Albuquerque, N.M., Realtor and church deacon.

The body of Taylor, 74, was found Monday night in a home he had reportedly shown earlier that day. The body showed signs of trauma, investigators said. Taylor was the listing agent for the home, which had a list price of $910,000.  more...

Lenders save money with foreclosure technologies Premium Content

By Samantha Peterson, Wednesday, August 18, 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...

California real estate prices break quarterly record

By Inman News, Wednesday, August 18, 2004.

Real estate scandal rocks San Francisco

By Inman News, Wednesday, August 18, 2004.

Mortgage rates slide

By Inman News, Wednesday, August 18, 2004.

Mortgage rates fell for the second consecutive week as the economy treaded water, according to surveys conducted by mortgage buyer Freddie Mac and Bankrate.

In Freddie Mac's weekly survey, the 30-year fixed-rate mortgage averaged 5.81 percent for the week ended today, slipping from last week when it averaged 5.85 percent. The average for the 15-year fixed-rate mortgage this week is 5.19 percent, down from last week's average of 5.24 percent. Points on the 30-year averaged 0.7; points on the 15-year averaged 0.6.  more...

Economy grows weaker

By Inman News, Wednesday, August 18, 2004.

The Conference Board today announced that the U.S. leading index declined for the second consecutive month in July, falling 0.3 percent from June.

The leading index now stands at 116 (1996=100). Based on revised data, this index decreased 0.1 percent in June and increased 0.4 percent in May. During the six-month span through July, the leading index increased 1 percent, with seven out of 10 components advancing (diffusion index, six-month span equals 70 percent).  more...

New paradigm for California land planning

By Inman News, Wednesday, August 18, 2004.

Freddie Mac may face SEC action

By Inman News, Wednesday, August 18, 2004.

Freddie Mac announced late Wednesday that it might be the subject of a civil lawsuit by the Securities and Exchange Commission.

The McClean, Va., company said it had received that information in a Wells Notice from SEC staff. The notice advises that SEC staff is considering recommending that the full commission seek a civil suit for possible violations of federal securities laws. The Wells Notice also indicates the SEC staff may seek a permanent injunction and civil money penalty against the company.  more...

Southern California real estate market cools

By Inman News, Wednesday, August 18, 2004.

Southern California's heated pace of home sales and price increases cooled a few degrees in July as buyers mulled over a wider selection of homes for sale, according to real estate information service DataQuick.  more...

Overnight mortgage rates drop

By Inman News, Wednesday, August 18, 2004.

Long-term mortgage interest rates fell slightly Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.23 percent.

The 30-year fixed-rate average dipped to 5.42 percent, and the 15-year fixed-rate slipped to 4.84 percent. The 1-year adjustable was down at 3.21 percent.

The 30-year Treasury bond yield increased to 5.03 percent.

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

Landlord's divorce causes rent-collection dispute

By Robert Griswold, Wednesday, August 18, 2004.

Question: For the last three years we have rented from a landlord couple and currently we are just month-to-month. Recently we have been informed that the husband-and-wife landlords are getting divorced. Both have called me individually and asked me to send the rent check to them directly. The wife hinted that if I didn't send it to her, she would give me notice. Each one has called a couple of times and it definitely feels like harassment. The husband sent me a letter stating his new address and a rent increase. They have put me in the middle of a messy situation.  more...

Real estate value jeopardized by unpaid taxes

By Robert Bruss, Wednesday, August 18, 2004.

DEAR BOB: When my father died about four years ago, his will specified his surviving wife (my stepmother) would receive a life estate in his luxury house. She now "rattles around" this 20-room house, which she is barely able to financially maintain. The property taxes are constantly in default, unless my lawyer pressures her to pay. When she passes on, or decides to vacate the house, I am the legal remainderman (although I am a woman) who will then receive clear title to this valuable house.  more...