Home

Former manufacturing plant sold in Virginia

By Inman News, Tuesday, August 3, 2004.

Thalhimer/Cushman & Wakefield negotiated the sale of the former Procter & Gamble manufacturing facility totaling 110,000 square feet in Portsmouth, Va.

The value of the transaction was $2.5 million.

The three-story property is located at 3600 Elm Ave. on 21.4 acres.

Elm Avenue Realty LLC purchased the property from Howard S. Adkins. Elm plans to expand its import/export facility to this location.

Ron Biesecker and Christine Kaempfe of Thalhimer/Cushman & Wakefield handled the sale negotiations for the buyer.

***  more...

Terranova secures buyer for retail centers

By Inman News, Tuesday, August 3, 2004.

Terranova Corp. brokered the sale of two shopping centers totaling 294,875 square feet in Florida.

The total value of the transactions was $40 million.  more...

Joint venture lands Maryland office complex

By Inman News, Tuesday, August 3, 2004.

A joint venture of New York-based Meritage Properties and Maryland-based Buchanan Partners acquired ownership of Metro-Plex I and II, two class A office buildings totaling 293,000 square feet in Landover, Md.

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

The dark side of real estate bundling Premium Content

By Samantha Peterson, Tuesday, August 3, 2004.

Everett Ives doesn't mince words about his dislike of real estate bundling. He believes that instead of helping consumers as it's purported to do, bundling mortgage and closing services actually hurts them.

"It's used as a tool to steal, and more particularly a tool to trap the borrower," said Ives, a Texas-based consultant to mortgage brokers and bankers. He is actively involved with the Texas Association of Mortgage Brokers.

Bundling real estate services is the process of combining fees for credit reports, title reports and other items needed to close a mortgage.  more...

The Democrats of real estate Premium Content

By Inman News, Tuesday, August 3, 2004.

Editor's note: With 1 million Realtors in the U.S. backed by a trade association with one of the largest Political Action Committees, there's no doubt that real estate has a powerful political voice in this country. In this three-part series, we caught up with a variety of these voices to find out what issues they care about and why. (See Part 1: Republican Realtors.)

Real estate is as diverse as it is fragmented.  more...

From drug dealer to real estate tech pro

By Dave Myers, Tuesday, August 3, 2004.

Another court hearing could be held as early as this month in the case of a San Diego man who prosecutors say became a well-known real estate technology expert after jumping bail 17 years ago and changing his identity to avoid a lengthy prison sentence on felony drug-smuggling charges.  more...

Web opens door to luxury real estate bargains

By Carol Lloyd, Tuesday, August 3, 2004.

Desert oasis in Marrakech? Chateau in Versailles? How about a tropical island all your own? The dream of escaping America has been around as long as, well, the American dream itself. Now, however, with real estate prices at an all-time high and America locked into an endless war on terrorism, the prospect of escape is more appealing than ever. Add to the picture job layoffs and spiraling deficits, and the idea of moving somewhere cheaper makes increasingly good sense.  more...

Condo, co-op sales break record

By Inman News, Tuesday, August 3, 2004.

Sales of existing condominiums and co-ops flirted with the 1 million mark in the second quarter of this year, setting a new record, the National Association of Realtors reported today.  more...

Mortgage platform gets another transaction piece

By Inman News, Tuesday, August 3, 2004.

LandAmerica Financial Group and Ellie Mae today launched a full integration of LandAmerica Tax and Flood Services with the ePASS Web mortgage transaction platform. Mortgage originators now can order LandAmerica's flood hazard certification services through ePASS.

Mortgage originators will be able to set up LandAmerica as an ePASS "QuickLink." This link will remember the originator's user name and password, and with two clicks of a mouse, enable users to order and receive flood certifications in real time.  more...

FirstAm grows Ohio title services

By Inman News, Tuesday, August 3, 2004.

First American Title Insurance Co. on Monday announced it has acquired Midland Title Agency of Northwest Ohio Inc. Terms of the transaction were not disclosed.

A full-service title company with three offices in the greater Toledo, Ohio, area, Midland Title has been a First American agent for 20 years. In combination with First American's other local subsidiary, Port Lawrence Title, Midland aims to make First American the dominant service provider in the increasingly active real estate market in and around Lucas County, Ohio.  more...

Real estate loan purchases slip

By Inman News, Tuesday, August 3, 2004.

Overall mortgage applications decreased 0.2 percent last week on a seasonally adjusted basis, according to the Mortgage Bankers Association's weekly survey.

The MBA seasonally adjusted purchase index increased by 1.6 percent to 452 from 444.8 the previous week. The seasonally adjusted refinance index decreased by 2.9 percent to 1,600.3 from 1,648.8 one week earlier.  more...

Mortgage rates dip further

By Inman News, Tuesday, August 3, 2004.

Long-term mortgage interest rates were lower Tuesday, and the benchmark 10-year Treasury bond yield sank to 4.43 percent.

The 30-year fixed-rate average dipped to 5.66 percent, and the 15-year fixed-rate remained at 5.1 percent. The 1-year adjustable was down at 3.34 percent.

The 30-year Treasury bond yield dipped to 5.17 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...

Homeowner faces wrath after building across property line

By Robert Bruss, Tuesday, August 3, 2004.

In 1960, Bryant Myers recorded a declaration of protective covenants and restrictions for his Meadowlark Ranches property. Parcel One describes a 60-foot-wide roadway throughout the private development.

In 1986, Sylvan L. Kapner bought a five-acre lot in Meadowlark Ranches from Myers. Kapner built his house, driveway, gate and perimeter fence.

Purchase Bob Bruss reports online.  more...

Wood preservation 101

By Bill and Kevin Burnett, Tuesday, August 3, 2004.

Q: Could you tell me the difference, as far as the results are concerned, between pressure washing a deck or sanding it to take the black residue off?

A: We would definitely pressure wash rather than sand. The results are the same after the wood dries, and sanding is dirty, backbreaking work. Pressure washing, on the other hand, is a nice thing to do on a warm day. It's kind of like playing in the sprinkler when you were a kid.

Spring is the time to work on that deck so you can enjoy long summer days with your favorite beverage and a ballgame on the radio.  more...

Do city ordinances regulate condo noise?

By Robert Bruss, Tuesday, August 3, 2004.

DEAR BOB: Six months ago, I moved into a condo I purchased. It was an apartment building conversion to condominiums. I discovered there is virtually no soundproofing between my unit and my neighbors above. They keep different hours than I do. Their animals are up at all hours. I haven't slept a full night since moving in. I've been back and forth with them and the homeowner's association, but with no results. Is there a city ordinance that requires the noise between condo units to be below a certain level?  more...