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Controversy in Chicagoland real estate heats up Premium Content

By Jessica Swesey, Thursday, August 5, 2004.

A bitter and controversial political fight among real estate brokers, large and small local trade associations and a cast of other characters in the Chicago area has turned ugly, and could lead to the dumping of the management team of the Multiple Listing Service of Northern Illinois, according to Inman News sources.

The Chicago Association of Realtors yesterday voted to recommend the ouster of certain MLSNI management, including CEO Jay Huffman, sources said.  more...

New reasons to attend the Olympics: real estate

By Julie Brosterman, Thursday, August 5, 2004.

Having just returned from vacation, I think fondly back to past trips, comparing the food, accommodations and the real estate that we "almost" bought on many of those holidays.

Being a real estate junkie, it's so hard to visit beautiful places and not want to live there. Paris is the worst for me. I slow down to look in all the real estate sales office windows, finding the one that looks most suited to our lifestyle, taste and budget.

But ouch–not this year! With the Euro at an historic high, prices of condos in Paris have hit the stratosphere.  more...

Mortgage co. goes public amid market downturn

By Samantha Peterson, Thursday, August 5, 2004.

The company that began two decades ago as the mortgage arm of HomeBanc Federal Savings is transitioning into its new status as a publicly traded real estate investment trust.

Atlanta-based HomeBanc Corp. went public July 14, during the same time many mortgage lenders are warning of lay-offs and declining revenues because of the drop off in refinancings.  more...

Real estate agents convert FSBOs into signed listings Premium Content

By Bernice Ross, Thursday, August 5, 2004.

Scared of prospecting FSBOs? Now there's an easy way to turn that reluctant FSBO into a satisfied customer.

According to NAR's Profile of Homebuyers and Sellers in 2003, only 14 percent of home sellers actually sold their homes without the help of a real estate professional. This represents a 30 percent decline over the last two years in the number of people successfully selling their home "by owner." There are many reasons FSBOs do not succeed without an agent. Some simply price their property too high.  more...

REIT picks up three retail centers

By Inman News, Thursday, August 5, 2004.

Colonial Properties Trust has acquired three retail centers totaling 521,000 square feet in South Florida.  more...

Joint venture buys Massachusetts office property

By Inman News, Thursday, August 5, 2004.

The Praedium Group LLC, a New York City-based national real estate investment firm, announced today a joint venture acquisition with Boston-based Griffith Properties LLC to purchase the buildings and 16 acres of developable land located at 200 Ballardvale Street in Wilmington, Mass.

 more...

Two multi-family properties change hands

By Inman News, Thursday, August 5, 2004.

Two multi-family apartment properties sold for a combined $14.1 million in Indianapolis.

 

Gre  more...

Sotheby's signs first U.S. real estate franchisee

By Inman News, Thursday, August 5, 2004.

Sotheby's International Realty Affiliates has signed its first franchisee in the U.S.  more...

Record quarter for Illinois home sales Premium Content

By Inman News, Thursday, August 5, 2004.

Illinois existing-home sales reached record levels in the second quarter of this year, and were up 9.8 percent from the second quarter of 2003, the state's association of Realtors reported today.

 

Existing-home prices in were up 7.2 percent from the second quarter of 2003 to the second quarter of this year, the Illinois Association of Realtors also  more...

Open house service matches Realtors with home buyers

By Inman News, Thursday, August 5, 2004.

OpenHouseToday.net has launched a new real estate service that matches home buyers with available open house listings.

 

The online service aims to connect prospective home buyers with licensed real estate professionals exclusively throu  more...

Real estate agents scammed more than $30 million

By Inman News, Thursday, August 5, 2004.

A federal judge in Norfolk, Va., this week ruled that three real estate sales agents working for a Virginia-based land developer participated in an elaborate land scam that fleeced about $30 million from more than 1,300 people across the country.

Operating under the name Buyers Source, the company and its agents victimized more than 500 senior citizens, according to the U.S. Department of Housing and Urban Development.  more...

Real estate: The week ahead

By Inman News, Thursday, August 5, 2004.

  • Alan Greenspan and the Federal Reserve Board's Federal Open Market Committee will meet on Aug. 10 to discuss monetary policy and decide whether to raise, lower or leave the federal funds rate at its current 1.5 percent.

  • The Neighborhood Reinvestment Corp. will hold the NeighborWorks Training Institute in Washington, D.C., Aug. 9-13.  more...

Home's beauty lies in details, not size

By Arrol Gellner, Thursday, August 5, 2004.

Not long ago, I visited William Randolph Hearst's renowned estate near San Simeon, Calif., now a state park better known as Hearst Castle. With its serene mountaintop setting, verdant gardens and spectacular view of the Pacific Ocean, the palatial retreat designed by Julia Morgan between 1917 and 1941 was soon nicknamed The Enchanted Hill. And indeed, soaking up its breathtaking gardens on a crystalline morning is about as close to paradise as most of us will ever get.  more...

How to reduce upstairs neighbor noise

By Paul Bianchina, Thursday, August 5, 2004.

Q: How can I reduce footfall and other noises from the condominium above me? There is a two-foot space between my ceiling and their floor that has no insulation – is there a product to put in this space? I have very high ceilings, so should I consider a "false" ceiling instead? Or both? Finally, what kind of contractor do I contact? Thanks! -Jim A.  more...

How easements affect your property

By Robert Bruss, Thursday, August 5, 2004.

A few weeks ago, I received an e-mail from a son concerned about his 80-year-old mother's home, which apparently has its driveway a few feet on a neighbor's vacant lot. He reports his mother has owned her home about 40 years and the driveway was installed by the builder.

A new owner has purchased the adjoining vacant lot and wants the driveway moved. Can the 80-year-old homeowner be forced to move the driveway she (and her late husband) used for more than 40 years? You will soon know the answer.  more...