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West Coast retail plaza sold

By Inman News, Thursday, January 6, 2005.

Resource Commercial Real Estate arranged the sale of Laguna 99 Plaza, a 205,800-square-foot shopping center in Elk Grove, Calif.

The value of the transaction was $18.6 million.

The property, built in 1990, is located on the corner of Highway 99 and Elk Grove Blvd., and is grocery-anchored by Pak 'n Sav. Other tenants in the center include Wal Mart (not a part of the transaction), Golden 1 Credit Union, Lyons Restaurant, among others. 

Pan Pacific Retail Properties sold the property to GD Development LLC.  more...

Crescent expands into Atlanta office market

By Inman News, Thursday, January 6, 2005.

Crescent Real Estate Equities Co. recently acquired One Live Oak, a 201,488-square-foot office property located in the Buckhead submarket of Atlanta. 

The value of the transaction was approximately $31 million.

Constructed in 1981, One Live Oak is a 10-story, class A property, which was 70 percent leased at the time of sale.

Crescent Real Estate Equities Co. is a publicly held real estate investment trust.

***  more...

TA Associates buys Mission Center Office Park

By Inman News, Thursday, January 6, 2005.

Grubb & Ellis Co. negotiated the sale of a 180,730-square-foot office park in San Diego, Calif.

The transaction was valued at $27.5 million.

Mission Center Office Park comprises three 3-story buildings located at 5333 and 5353 Mission Center Road and 7947 Mission Center Court. The property was built in 1974.

The asset was 82 percent leased at the time of sale.

Brentwood, Calif.-based Mission Center Office Court LLC sold the property to TA Associates Realty, a Boston-based pension fund advisor.  more...

Banks-out-of-real-estate bill back in Congress

By Inman News, Thursday, January 6, 2005.

Legislation that if passed would permanently prohibit big banking conglomerates from entering real estate brokerage or property management has been introduced in the 109th Congress, the National Association of Realtors reported today.

U.S. Reps. Ken Calvert (R-Calif.) and Paul E. Kanjorski (D-Penn.) this week reintroduced the bill, dubbed the "Community Choice in Real Estate Act." The NAR has led a push for the legislation over the last three years.  more...

Real estate market to slow in 2005

By Inman News, Thursday, January 6, 2005.

House-price gains are expected to slow this year compared to 2004, with some metropolitan areas seeing particular lulls and even decreases in price, economists said today during a 2005 housing industry forecast hosted by the National Association of Home Builders.

A projected rise in the Fed rate and mortgage interest rates were cited by some panelists as possible contributors to a slower housing market in 2005.

"House prices I'm pretty much convinced we will see a slowdown from what looks like outlan  more...

Lawsuit targets lawyers who settled MLS price-fixing case

By Inman News, Thursday, January 6, 2005.

A lawsuit filed this week in California Superior Court alleges that two San Diego-area lawyers "sold out" members of a multiple listing service price-fixing lawsuit.

Barry & Associates, a San Francisco law firm known for real estate-related antitrust litigation against Realtor associations and MLSs, launched the lawsuit on behalf of Arleen Freeman and James Alexander, real estate professionals who were members of Sandicor, a regional MLS formed by San Diego-area Realtor associations.

The latest lawsuit,  more...

The voice behind New York's real estate powerhouse Premium Content

By Steve Viuker, Thursday, January 6, 2005.

Steve Spinola, president of the Real Estate Board of New York, entered public life as director of community relations for the New York City Off-Track Betting Corp., a job that prepares one for any and all situations. "I recall one meeting we had at a senior citizens center regarding the opening of an OTB branch," he laughed.  more...

Web marketing guru to unveil real estate lead secrets

By Inman News, Thursday, January 6, 2005.

Stephanie Agresta began her New York City Internet career in 1997 at iVillage, managing the Shopping Channel and relationships with premier online merchants such as Amazon.com and J.Crew.

From there, Agresta went on to work for a variety of businesses managing affiliate programs before moving to the Jersey shore in 2003. She then began marketing for a local real estate company, Foxtons.  more...

Real estate brokerage expands sports marketing program

By Inman News, Thursday, January 6, 2005.

Century 21 Real Estate Corp. today announced it has expanded its sports marketing program in 2005 to include two new professional ice skating sponsorships, including the title sponsor of the "Kenny Loggins on Ice" show and a supporting sponsorship of the "Brian Boitano Skating Spectacular" show.  more...

Weekly real estate rates fall

By Inman News, Thursday, January 6, 2005.

Long-term mortgage rates decreased this week, according to Freddie Mac's weekly mortgage survey.

Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.77 percent for the week ended today, down from last week when it averaged 5.81 percent. The average for the 15-year fixed-rate mortgage is 5.21 percent, down from last week when it averaged 5.23 percent. Points on the 30-year averaged 0.7, while those on the 15-year averaged 0.6.

Five-Year Treasury-indexed hybrid adjustable-rate mortgages averaged 5.03 percent this week, with an average 0.5 points.  more...

California home builders pledge real estate policy changes

By Inman News, Thursday, January 6, 2005.

Most affordable U.S. real estate found in Ohio

By Inman News, Thursday, January 6, 2005.

Lima, Ohio, is the nation's most affordable housing market, according to the newly revised National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) for the third quarter of 2004. The HOI also reveals that, on a nationwide basis, housing affordability has declined substantially since the beginning of 2004.  more...

Cendant board approves mortgage, fleet spin-off Premium Content

By Inman News, Thursday, January 6, 2005.

Cendant Corp. announced today that its board of directors has approved the spin-off of Cendant mortgage and fleet businesses. The spin-off was first announced in October.  more...

Online real estate platform sees 500% increase in transactions

By Inman News, Thursday, January 6, 2005.

The Real Estate Solutions division of Fidelity National Financial has released a major update to its TransactionPoint Suite, a Web-based real estate transaction management platform and ordering system designed to streamline business processes and reduce risk.  more...

HouseValues extends real estate leads to brokers

By Inman News, Thursday, January 6, 2005.

HouseValues Inc., which offers lead generation and lead management services and products for real estate agents, today announced the formal launch of similar tools for real estate brokerages.

A group of brokerages began testing the new offering, BrokerSelect Lead Network, in mid-2004, and the group of brokers using the product includes Coldwell Banker United, Prudential Fox & Roach, Coldwell Banker Canada, ZipRealty and Weichert Realtors, among a list of about 20 large brokerages.

Ian Morris, HouseValues CEO, said, "  more...

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