Home
Date

Crescent expands in Denver

By Inman News, Tuesday, January 11, 2005.

Crescent Real Estate Equities Co. acquired Peakview Tower, a 264,149-square-foot office property located in the southeast submarket of Denver, Colo.

The value of the transaction was approximately $47.5 million.

Constructed in 2001, Peakview Tower rises 10 stories and was 75 percent leased at the time of sale.

Crescent Real Estate Equities Co. (NYSE:CEI) is one of the largest publicly held real estate investment trusts in the nation.

***  more...

Berwind builds Mid-Atlantic holdings

By Inman News, Tuesday, January 11, 2005.

Berwind Property Group purchased a four-building office portfolio located in Pennsylvania, New Jersey and New York totaling 667,500 square feet.

The total value of the transactions was not disclosed.

Two of the four properties are located in Pennsylvania. One Meridian Boulevard is a 380,000-square-foot, four-story, class A office building located on 56 acres in Wyomissing.

200 Tournament Drive, the other Pennsylvania property, is a 91,000-square-foot, three-story, class A office building situated within Commonwealth Corporate Center in Horsham.  more...

$12 million apartments sold in Washington

By Inman News, Tuesday, January 11, 2005.

Marcus & Millichap arranged the sale of the Borgatta Apartments in Renton, Wash.

The 83-unit community commanded a sales price of approximately $12.2 million.

A developer based in Tacoma, Wash, sold the property to Borgatta LLC.

Borgatta Apartments is located at 400 South 50th Street. The sale includes 93,720 rentable square feet on approximately 8 acres. The class A community was completed in 2002. The unit mix is made up of 24 one-bedroom, 17 two-bedroom and 39 three-bedroom apartment homes, which range in size from 850 to 1,325 square feet.  more...

Real estate innovation in new digital media Premium Content

By Steve Viuker, Tuesday, January 11, 2005.

New digital media has arrived, and some of the biggest names spoke during Inman News' Real Estate Connect NYC about how the evolution on the Internet is being using in real estate.

Tony Lee, editor in chief and general manager of The Wall Street Journal Online Network and RealEstateJournal.com, explained the concept behind the Web sites.

"We target the market by demographic segments," he said. "We're a niche site looking at only the high demographic audience.  more...

Building business around digital real estate transactions

By Jessica Swesey, Tuesday, January 11, 2005.

NEW YORK–In imagining a business architecture for the digital real estate transaction, experts and the companies involved agree that a set of technology standards is crucial in moving this machine forward. They also say establishing these standards is among the most difficult and expensive tasks at hand.  more...

Buyers learn the ropes of successful home ownership

By Robert Bruss, Tuesday, January 11, 2005.

Whether you just bought your house or condo, or have owned it several years, Robert Irwin's latest book, "Tips and Traps for New Home Owners," will answer most of your questions after home purchase. Although it begins a little "soft" and "unfocused," such as generally discussing insurance and refinancing, by the book's conclusion it becomes highly focused, even with details such as recommending furnace brands.  more...

Safety concerns erupt over home's electrical wiring

By Barry Stone, Tuesday, January 11, 2005.

Dear Barry,

The home we just purchased home was listed as 30 years old, but our neighbors say the house was actually built in the 1940s and was moved to the site 30 years ago. We've also learned that the some of the electrical wiring is very old, so we're now worried about electrical safety. Do you think the house should be rewired? – Gale

Dear Gale,  more...

Pros and cons of buying real estate for all cash

By Robert Bruss, Tuesday, January 11, 2005.

DEAR BOB: My townhouse is worth about $300,000. My mortgage balance is around $46,000. I believe I can buy a small house for under $200,000 in Arizona. Does it make sense to buy the new house with no mortgage? What if I find that house before I sell my current home? – Judith E.

DEAR JUDITH: If you commit to buying a $200,000 house in Arizona for all-cash before selling your current home, you might be in financial hot water unless you have $200,000 spare cash.  more...

Countrywide's real estate loan production soars

By Inman News, Tuesday, January 11, 2005.

Countrywide Financial Corp. today reported that its total loan fundings for December grew 11 percent from the previous month and jumped 38 percent from their year-ago level.

Fundings for December totaled $35 billion, up from $25.1 billion a year ago. Fundings for the fourth quarter totaled $95 billion, 4 percent higher than the third quarter of 2004 and 25 percent higher than the fourth quarter of 2003. Total fundings for 2004 reached $363 billion, making it the second-best year in company history.  more...

Making the most of real estate and the Web

By Steve Viuker, Tuesday, January 11, 2005.

NEW YORK–Brokers, agents and online companies are figuring out new and interesting ways to put home listings on the Web. Three industry players in the New York scene showed their Web sites during Inman News' Real Estate Connect NYC and addressed questions about what a newcomer to their sites could do to maximize what they want from the experience.  more...

Citigroup subsidiary acquires real estate advertiser

By Inman News, Tuesday, January 11, 2005.

A Citigroup investment subsidiary has acquired Network Communications Inc., a leading publisher of local residential real estate advertising. The terms of the acquisition were not announced.

Citigroup Venture Capital Equity Partners LP, a private equity fund, announced the acquisition this month.  more...

Coldwell Banker earns top honors for real estate satisfaction

By Inman News, Tuesday, January 11, 2005.

Coldwell Banker Real Estate Corp. on Monday announced that it has earned the No. 1 ranking in "Highest Overall Satisfaction For Repeat Home Buyers and Sellers Among National Full Service Real Estate Firms," according to the J.D. Power and Associates 2004 Home Buyer/Seller Satisfaction Study.

The J.D. Power and Associates study found that the Coldwell Banker brand ranked higher than other national real estate brands in "goodwill" and "broker relations" among repeat home buyers and in "goodwill" among repeat home sellers.  more...

Real estate leads land at Cendant

By Steve Viuker, Tuesday, January 11, 2005.

NEW YORK–Alex Perriello, president and CEO of Cendant Real Estate Franchise Group, revealed some of the thinking and mechanics behind LeadRouter, the company's recently acquired online lead tracking system.

"In 2002, we began to evaluate and looked at how we could respond to Internet leads better and more efficiently and to better track and respond to them, and also to see the sources of the leads," Perriello said during a keynote address Monday at Real Estate Connect NYC.  more...

Nashville reports banner year in real estate

By Inman News, Tuesday, January 11, 2005.

Annual home sales for the Greater Nashville, Tenn., area reached an all-time high in 2004 with strong December sales raising the totals past 36,000 for the first time, according to the Greater Nashville Association of Realtors.

According to figures provided by GNAR, 36,469 homes were closed in 2004, representing a 14.4 percent increase from the 31,855 closings reported for 2003, previously a record year for area home sales.  more...

Overnight real estate rates mixed

By Inman News, Tuesday, January 11, 2005.

Long-term mortgage interest rates were mixed Monday, and the benchmark 10-year Treasury bond yield remained at 4.27 percent.

The 30-year fixed-rate average held at 5.34 percent, and the 15-year fixed-rate inched up to 4.8 percent. The 1-year adjustable was down at 3.47 percent.

The 30-year Treasury bond yield dipped to 4.82 percent.

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