ZipRealty reports $62.3 million in 2004 revenue

ZipRealty today reported 2004 fourth-quarter net revenues of $17.5 million, up 89 percent from $9.3 million during the same quarter in 2003. Net income was $900,000, or 1 cent per diluted share, in the fourth quarter, up from $200,000 the previous year.

Net revenues for all of 2004 were $62.3 million, an 84 percent increase from $33.8 million generated in 2003. Net income for 2004 was $3.2 million, which compares to a net loss of $4.6 million in 2003.  more...

Home ownership doesn't add up for everyone

As it turns out, the American dream of owning a home is not the best option for everyone, according to a study released by the Center for Economic and Policy Research.  more...

Coldwell Banker debuts luxury real estate Web site

Coldwell Banker Real Estate Corp. today announced the launch of a new stand-alone Web site, www.coldwellbankerpreviews.com, which will support Coldwell Banker Previews International, the brand's high-end marketing program.

The Coldwell Banker Previews search engine allows consumers to view more than 10,000 listed properties from communities in the United States and the 26 other countries where Coldwell Banker has offices. Most of the homes listed are priced at more than $1 million.  more...

Real estate rates sink to 10-month lows

Long-term mortgage rates dropped for the sixth consecutive week, according to Freddie Mac's weekly mortgage survey.

Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.57 percent, with an average 0.8 points, for the week ended today, down from last week when it averaged 5.63 percent.  more...

Real estate affordability declines in California

The percentage of households in California able to afford a median-priced home stood at 19 percent in December, unchanged from the previous two months but down 4 percentage points from a year ago, according to a report released today by the California Association of Realtors.  more...

Survey reveals real estate's tiny housing bubbles

A study of the top 99 U.S. real estate markets announced today by the economics department of National City Corp. finds tiny housing bubbles – or "bubblettes" – in one-fifth of the U.S. housing stock. These bubblette areas are characterized by home-price overvaluation of 20 percent or more.  more...

Feds investigate alleged real estate debt relief scam

Redwood Trust, a Rotterdam, N.J., company, is under federal investigation for allegedly promising to help people with mortgages and other debts and making off with their money instead, the Albany, N.Y., Times Union reported Thursday.

Authorities told the Times Union there may be hundreds of people across the United States who were allegedly duped by Redwood Trust. The accusations in New York involve Kenneth G. Titus Sr., a 59-year-old former plumber who is the target of a federal investigation, according to reports.  more...

States ease one-stop real estate shopping restrictions

In what many cross-industry leaders in the residential real estate industry hail as a positive development, state legislators and regulators appear to be gradually moving away from laws that restrict one-stop shopping for home buyers and owners.  more...

Up to $695 billion accessible for reverse real estate loans

Reverse mortgages could help an estimated 13.2 million elderly homeowners pay for long-term care, according to a report published by the National Council on the Aging.

Of the 13.2 million eligible households, an estimated 9.8 million currently have an impairment that can make it difficult to live at home, according to the study, "Use Your Home to Stay at Home: Expanding the Use of Reverse Mortgages to Pay for Long Term Care." The study had support from the National Reverse Mortgage Lenders Association.  more...

Condo median resale prices leap 17%

Sales of existing condominiums and cooperatives hit a ninth consecutive annual record in 2004, and median existing condo prices were up 17 percent, the National Association of Realtors reported this week. The pace of sales activity in the fourth quarter eased but remained the third highest quarter on record.  more...

Nashville real estate sales grow

January home sales in the Greater Nashville, Tenn., area outpaced year-ago sales by a solid margin, according to figures provided through the Greater Nashville Association of Realtors. For January 2005 there were 2,111 home closings, up 6 percent from the 1,991 closings reported for January 2004.  more...