Google Base launches as possible online classifieds contender

Google Base, a service that allows people to upload content on a publicly searchable online database, launched today.

The product works somewhat similarly to craigslist, making it possible to quickly and easily create a free post that will appear online and can be located by searching specific terms, such as "real estate for sale."

"Google Base is a place where you can easily submit all types of online and offline content that we'll host and make searchable online," the company said on its Web site.  more...

Builder confidence declines in November

Responding to sharply lower measures of consumer confidence as well as rising mortgage rates and other factors in recent months, single-family home builders are adjusting their market expectations downward to a still favorable perspective, according to the National Association of Home Builders/Wells Fargo Housing Market Index for November, released today.  more...

Florida real estate prices soar in third quarter

The median price of an existing single-family home in Florida increased significantly in the third quarter from a year ago, while home sales posted more modest gains, according to the Florida Association of Realtors.

The statewide median sales price for third-quarter 2005 rose 31 percent to $248,600; a year ago, it was $189,900. For third quarter 2000, the statewide median sales price of existing single-family homes was $119,700, which translates as an increase of about 107.6 percent over the five-year period.  more...

WWNotary, MRG join forces to streamline real estate loans

WWNotary and MRG Document Technologies have created a system enabling their customers to electronically post, review, close, record and file completed electronic mortgage documents.

WWNotary's product, DigaSign, makes it possible to sign digitally at occasions such as real estate closings using a special inkless pen and what is known as a biometric pad. Now, lenders can access MRG's Miracle DocPrep documents through the DigaSign application.  more...

Home builder D.R. Horton earnings shatter records

D.R. Horton, one of the nation's largest home builders, today reported the highest quarterly and annual earnings in the company's history and raised its 2006 earnings guidance.

The company's stock (NYSE:DHI) was up approximately 2 percent on the news, trading at $32.98 a share this morning.

Net income for the fourth quarter ended Sept. 30 increased 61 percent to $563.8 million, or $1.77 per diluted share, and fourth-quarter consolidated revenue was up 45 percent to $5.1 billion from the same period a year ago.  more...

Texans indicted in alleged $2 million real estate fraud

A group of Texans were indicted in Dallas in connection with an alleged mortgage fraud scheme involving about $2 million in fraudulent loans.

The indictment, handed down by a grand jury in the United States District Court for the Northern District of Texas Dallas Division, charges Charles Cooper Burgess, Mark Manners, Robert L. Loeb and Andrew Siebert.  more...

Fannie Mae's CEO gets a raise

Fannie Mae on Tuesday said it increased its chief executive's base salary and would pay new chief financial officer, Robert Blakely, a base salary of $650,000, according to media reports.

Blakely will also receive 10,000 restricted stock units that will vest over three years, and is eligible for a bonus of 190 percent of his base salary, or $1.2 million, Reuters reported.

Fannie said its board approved a new employment agreement with President and Chief Executive Officer Daniel Mudd raising his base salary to $950,000 from $850,000, according to reports.  more...

FEMA's timetable for housing hurricane evacuees criticized

The National Multi Housing Council, a trade association representing apartment firms, today announced that it generally supports the Federal Emergency Management Agency's plan to transition all remaining hurricane evacuees to apartments by Dec. 1, though "there are still a lot of technical issues that need clarification if that goal is to be achieved," according to an announcement today.  more...

Next-generation paperless real estate office coming soon

Coldwell Banker Residential Brokerage in Greater Los Angeles is creating a technology-driven, paperless real estate office in an effort to streamline the home buying and selling experience.

The office in Manhattan Beach, Calif., is slated to open in January 2006.

The office will be equipped with the latest tools and technologies, including a digital transaction management system, Tablet PCs, laptop docking stations, VOIP phones and wireless Internet access.  more...

Real estate refinancings tumble for fourth week

Overall mortgage applications dipped just 0.6 percent last week on a seasonally adjusted basis from the week before, while refinancings posted a monthlong decline, according to the Mortgage Bankers Association's latest survey.

The seasonally adjusted figures include an additional adjustment for Veteran's Day.  more...

Overnight real estate rates gain ground

Long-term mortgage interest rates were up Tuesday, and the benchmark 10-year Treasury bond yield fell to 4.56 percent.

The 30-year fixed-rate average rose to 5.9 percent, and the 15-year fixed-rate inched up to 5.48 percent. The 1-year adjustable was up at 4.48 percent.

The 30-year Treasury bond yield dropped to 4.75 percent.

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