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Liberty Property gains office building

By Inman News, Wednesday, September 1, 2004.

Thalhimer/Cushman & Wakefield arranged the sale of Innsbrook Commons, a 60,000-square-foot office building in Glen Allen, Va.

The value of the transaction was $7.6 million.

The two-story property is located at 4121 Cox Road in Innsbrook Corporate Center.

Liberty Property Limited Partnership purchased the class-A office building from Innsbrook Commons LC for investment purposes.

The building was fully leased at the time of sale.

Morton G. Thalhimer Inc. is an independent real estate services company.

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SoCal apartments sold

By Inman News, Wednesday, September 1, 2004.

Marcus & Millichap negotiated the sale of Lakewood Manor, a 661-unit garden-style multifamily property in Lakewood, Calif.

The value of the transaction was $68 million.

Lakewood Manor was built from 1957 through 1963 in five separate phases by legendary developer Ben Weingart. The complex consists of 64 two-story apartment buildings situated on approximately 12.5 landscaped acres. The property features eight distinctive floor plans, including one-, two- and three-bedroom units, totaling 472,063 square feet of living space.  more...

TIC investor adds 88,000 square feet

By Inman News, Wednesday, September 1, 2004.

Grubb & Ellis Co. represented Marina Corporate Center LLC, a Los Angeles-based tenant-in-common buyer, in the purchase of Marina Corporate Centre, an 88,125-square-foot office building in West Los Angeles.

The transaction was valued at $26 million.

The six-story, steel-frame office building, which is located at 12665 Jefferson Blvd., was built in 1985 and renovated in 1988 and 2002. The property, which was sold by Summit Commercial of El Segundo, was 100 percent leased at the time of sale.   more...

Supreme Court throws out antitrust claims

By Inman News, Wednesday, September 1, 2004.

Iowa Realty today announced that the Iowa Supreme Court has upheld a lower court decision to dismiss a civil action brought by Next Generation Realty in September 1999 involving claims of antitrust and attempted monopoly behavior that were found to be without merit or proof.

In February 2003, Polk County District Court Judge Glenn E. Pille dismissed an action filed by Next Generation Realty and Homebuyers Consultants against Iowa Realty.  more...

Man beaten to death for refusing to sell home

By Inman News, Wednesday, September 1, 2004.

A 78-year-old man was beaten to death Monday in Queens, N.Y., after refusing to sell his house for below market value, The New York Times reported this week.

A woman who wanted to buy Charles Schlechtiger's home for $20,000 lured him to a park where he was met by a former convict she hired to frighten him into giving up his house keys, law enforcement officials said. But the meeting turned violent and Schlechtiger was declared dead at the scene.  more...

Storefront real estate

By Inman News, Wednesday, September 1, 2004.

The real estate craze doesn't seem to be slowing down as a raft of new companies attempt to capture their share of the home-buying and selling pie. This story tells a visual tale of the economy's hottest industry.

View Storefront real estate slideshow.

HouseValues agents fly high on leads Premium Content

By Glenn Roberts Jr., Wednesday, September 1, 2004.

Staci Dancey got tired of cold-calling to get leads. She spent several hours on the telephone on some days to drum up new business.

"I knew there had to be a better way – that leads could come to you without killing you," said Dancey, a Realtor for C-21 Masters in Walnut, Calif.

Dancey, a Realtor for about 26 years, got a call about four years ago from HouseValues, a company that offers home-value estimates for consumers and Internet-generated leads for real estate agents. "Luckily HouseValues turned out to be a good company.  more...

Job-market woes push mortgage rates lower

By Inman News, Wednesday, September 1, 2004.

Mortgage rates sank this week in response to a sharp drop in consumer confidence for August, according to surveys conducted by mortgage buyer Freddie Mac and Bankrate.

In Freddie Mac's weekly survey, the 30-year fixed-rate mortgage averaged 5.77 percent, with an average 0.8 points, for the week ended today, down from last week when it averaged 5.82 percent.  more...

How HouseValues works

By Jessica Swesey, Wednesday, September 1, 2004.

Since 1999, HouseValues has carved a name for itself in the online real estate lead generation business. The company already is well known among agents and consumers who've used the service or seen its television commercials. And now, with its move to go public Wednesday, the company is set to continue growing.

Bellevue, Wash.-based HouseValues filed papers Wednesday with the Securities Exchange Commission in its first move to go public.  more...

High-energy Harvard grad leads HouseValues

By Inman News, Wednesday, September 1, 2004.

Online real estate veteran Ian Morris first began making his mark on the real estate world about nine years ago when he starting working for Microsoft's online real estate business. Now, he's further cementing his role as industry pioneer by helping to take HouseValues public.

That pioneering spirit doesn't surprise those who have worked with Morris.  more...

HouseValues files its IPO

By Inman News, Wednesday, September 1, 2004.

Bellevue, Wash.-based online real estate company HouseValues has filed papers with the Securities Exchange Commission for an initial public offering.

According to the SEC documents filed today, HouseValues plans to raise $86.25 million in its initial public offering. The company generated revenues of $25.1 million in 2003 and $20.5 million for the six months ended June 30, 2004.

HouseValues provides online marketing services to real estate agents and has been growing steadily since its inception five years ago.  more...

Realtor gets spotlight at GOP convention

By Inman News, Wednesday, September 1, 2004.

A Realtor in Dubuque, Iowa, and her husband, a salesman who was on active military duty in the Middle East last year, were featured during the Republican National Convention this week as examples of tax-cut beneficiaries.

Lorie Foley, a Realtor with American Realty-GMAC Real Estate in Dubuque, Iowa, and her husband, Greg, a salesman for Crescent Electric who spent six months in Egypt on a peace-time mission last year, were one of three Midwest couples who were featured for the benefits they have realized through federal tax-relief measures.  more...

InterActiveCorp completes purchase of ServiceMagic

By Inman News, Wednesday, September 1, 2004.

Real estate loan production sinks at ABN AMRO

By Inman News, Wednesday, September 1, 2004.

ABN AMRO Mortgage Group today reported that its total residential production for July was $4.1 billion, a drop of 74 percent from a year ago.

In July 2003, the lender had $16 billion in total residential mortgage production. Year-to-date production (through the end of July) totaled $38.2 billion. That's a 58 percent drop for the same time frame in 2003 when the company had $90.3 billion in production totals.

The lender's July figure represents more than 28,500 loans funded.  more...

Overnight mortgage rates trend lower

By Inman News, Wednesday, September 1, 2004.

Long-term mortgage interest rates were lower Wednesday, and the benchmark 10-year Treasury bond yield remained at 4.12 percent.

The 30-year fixed-rate average dropped to 5.37 percent, and the 15-year fixed-rate sank to 4.78 percent. The 1-year adjustable was down at 3.19 percent.

The 30-year Treasury bond yield stayed at 4.93 percent.

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

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