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Advice for the Rookie Realtor

By Inman News, Sunday, August 29, 2004.

Re: 'Life of a Rookie Realtor' (Aug. 27)

Dear Rookie:

If someone had sat you down to spell out the life of a real estate salesperson, would that really have altered your decision to take the plunge into the real estate profession?  more...

The NON Architect Premium Content

By Veronica Barzelatto, Sunday, August 29, 2004.

I am a 53-year-old simultaneous interpreter who got the bright idea of going to Harvard this summer. I even lived in a dormitory for the real college experience.

At my age, dorms can be a daunting experience, considering that I go to the bathroom several times a night. I had to always remember my key and have some clothes on, lest I get caught in the hallway at 4 a.m. in my jammies.

Why would I leave my comfortable private bath in Sausalito, Calif., to take a summer course, even if it was at Harvard?  more...

Rhode Island mall changes hands

By Inman News, Sunday, August 29, 2004.

CB Richard Ellis/Whittier Partners arranged the sale of Salt Pond Shopping Center located on Route 108 in Narragansett, R.I.

The value of the transaction was $30.7 million.

Cornerstone Real Estate Advisers acquired the 185,631-square-foot center from Property Advisory Group.  more...

Lexington joint venture grows in Florida

By Inman News, Sunday, August 29, 2004.

Lexington Corporate Properties Trust announced that one of its joint venture investment programs has acquired two adjacent industrial facilities totaling 432,445 square feet in Weston, Fla.

The total value of the transactions was $30.6 million.

The properties are net-leased to Hagemeyer Foods Inc. and Circuit City Stores Inc.  more...

Real money for virtual realty Premium Content

By Glenn Roberts Jr., Sunday, August 29, 2004.

Sure, it's nice to own a house on Planet Calypso. But savvy real estate investors know that the real money is in shops, spaceship hangars and castles.  more...

Workin' for a real estate livin' Premium Content

By Glenn Roberts Jr., Sunday, August 29, 2004.

Editor's note: From fast-food franchise owners to local news anchors to former Olympians, real estate has long attracted people from all walks of life who've opted to try their hand at selling homes. In this special three-part Inman News series, we caught up with some of these real estate pros to share their stories.  more...

40-year fixed-rate mortgages appear

By Inman News, Sunday, August 29, 2004.

A young woman in Minnesota was looking for the lowest possible monthly payment she could get with a fixed-rate mortgage. Instead of opting for the standard 30-year fixed-rate mortgage, she chose to stretch the loan an additional 10 years.  more...

Job growth to fuel real estate sales

By Inman News, Sunday, August 29, 2004.

In a call sponsored by the Homeownership Alliance, the nation's top housing economists told financial analysts that the second half of this year will bring continued success for housing and home ownership in spite of higher interest rates.

The economists participating on the call represent the charter members of the Homeownership Alliance: the Independent Community Bankers of America, Freddie Mac, Fannie Mae, the National Association of Home Builders and the National Association of Realtors.  more...

Freddie Mac, Fannie Mae face new challenges Premium Content

By Inman News, Sunday, August 29, 2004.

The Federal Home Loan Bank of Seattle has filed an application with the Federal Housing Finance Board to purchase mortgage securities from cooperative bank members and resell them to bank system members, other federal home loan banks and investors outside the system.  more...

Broker listings land aerial maps

By Inman News, Sunday, August 29, 2004.

DonationChannel has launched a new "on-the-fly" street address mapping capability for its Enhanced RealBird Aerial Maps Viewer, a personalized GIS (Geographical Information Systems) tool for real estate agents.  more...

HomeBanc appoints chief financial officer

By Inman News, Sunday, August 29, 2004.

HomeBanc Corp. today announced the company's president and CEO will also serve as the newly public company's acting chief financial officer.

Kevin Race will take on the post Sept. 1. Atlanta-based HomeBanc had previously announced that Steven McClellan, the company's current chief financial officer, had resigned effective Aug. 31. McClellan will remain with HomeBanc as a consultant through Dec. 31 to help with the transition.  more...

New-home construction slows in California

By Inman News, Sunday, August 29, 2004.

New-home production slowed slightly in July, but building permits for single-family homes remained more than 10 percent ahead of the first seven months of 2003, according to numbers released by the California Building Industry Association.  more...

Mortgage rates drop

By Inman News, Sunday, August 29, 2004.

Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield remained at 4.22 percent.

The 30-year fixed-rate average fell to 5.44 percent, and the 15-year fixed-rate slipped to 4.84 percent. The 1-year adjustable was down at 3.24 percent.

The 30-year Treasury bond yield increased to 5.02 percent.

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

Family friend commits real estate faux pas

By Jack Guttentag, Sunday, August 29, 2004.

"A family friend wants to buy his first house and has asked me to help by adding his name to my bank account. His broker told him this would help secure a better loan and will pose no risk to me. I would like to help my friend–who I trust to be responsible–but I am less sure of the broker. What would you counsel?"

I wouldn't do this for my closest buddy, because it would place our friendship at risk, and requires me to participate in a fraud. I would either gift him the money he needs, or counsel him to wait until he can save it himself.  more...

Real estate tax breaks revisited

By Robert Bruss, Sunday, August 29, 2004.

DEAR BOB: About five years ago, my wife and I were given a home in Florida. It is now worth about $800,000. We use it four months each winter. If we sell it, and buy another property worth the same amount, is there a capital gain tax to be paid? What is the best way to avoid paying capital gain tax on our sale profit? – Maxwell D.  more...

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