By Inman News, Monday, July 18, 2005. Dallas-based Granite Properties, along with its locally based joint-venture partner Pope & Land Enterprises, has sold three buildings at Cumberland Office Park in Atlanta, Ga. The total value of the transactions was approximately $17 million. The Home Depot purchased the properties. The buildings, 2600, 2690 and 2580 Cumberland Parkway, are located less than a mile from Home Depot's corporate headquarters in the Vinings submarket and total 198,400 square feet. more...
By Inman News, Monday, July 18, 2005. Broadreach Capital Partners LLC has acquired a 122,000-square-foot, four-story office building in El Segundo, Calif. The value of the transaction was approximately $19.6 million. BT Infonet, a subsidiary of British Telecom (BT), sold the property and plans to lease back between 15,000 and 32,000 square feet of space for 10 years. The building is located at 2151 Grand Ave. The project represents Broadreach's sixth acquisition in Southern California over the past 12 months. more...
By Inman News, Monday, July 18, 2005. A joint venture between Prescott Capital Management LLC and Woodbridge, N.J.-based Onyx Equities LLC has acquired Westport View Corporate Center, a first-class office complex in Westport, Conn. The value of the transaction was $24.8 million. The 80,000-square-foot property, consisting of two buildings, is located at 8 and 10 Wright St. It was built in 1977 with a major renovation in 2000. more...
By Inman News, Monday, July 18, 2005. Elizabeth Chesen is a serial entrepreneur who is no stranger to the real estate technology space. In 1999, Chesen co-founded WhereToLive.com and is responsible for day-to-day operations as the company's chief operating officer. WhereToLive.com is a coalition of top real estate brokers, agents and service providers. The company has built a suite of Web-based productivity tools that leverages the Internet for lead generation, listing distribution, prospect and contact management, online marketing and more. more...
By Inman News, Monday, July 18, 2005. The Realtor who purchased the Modesto home that once belonged to Scott and Laci Peterson lost his job a week after announcing that he found a 10-inch knife behind the house, the Modesto Bee reported. Gerry Roberts, a Prudential California real estate agent, bought the home at 523 Covena Ave. on July 1, the Bee reported. The house was listed for sale by Prudential in May. more...
By Inman News, Monday, July 18, 2005. Home sales in the Bay Area hit their second-highest level in June as the median sales price passed $600,000 for the first time, according to DataQuick Information Systems, a real estate information service. A total of 13,014 new and resale houses and condos were sold in the nine-county region last month. That was up 2.5 percent from 11,308 for May, and down 7.7 percent from 14,104 for June last year, DataQuick reported. The year-ago June sales count was the highest in DataQuick's statistics, which go back to 1988. more...
By Inman News, Monday, July 18, 2005. Wells Fargo today reported record net income of $1.91 billion for the second quarter of 2005, or $1.12 per share, up 11 percent from the prior year's $1.71 billion, or $1 per share. A group of analysts polled by Thomson First Call had predicted profit of $1.13 per share. more...
By Inman News, Monday, July 18, 2005. The resale housing market in Toronto, Canada, posted a 2 percent increase in sales for the first half of July compared to the same period a year ago, the Toronto Real Estate Board announced today. Realtors reported a total of 3,292 homes sold during the first half of July, up from 3,227 sales recorded in the first half of July 2004. Year-to-date sales totals remained steady, with 2005 staying within 3 percent of 2004's record numbers. more...
By Inman News, Monday, July 18, 2005. Fannie Mae said on Monday that it has mortgage relief provisions in place for Florida borrowers facing hardships as a result of damage caused by Hurricane Dennis. Fannie Mae's disaster relief provisions give lenders the discretion to help borrowers in several ways, including suspending mortgage payments for up to three months, reducing the payments for up to 18 months, or in more special cases, creating longer loan payback plans. All changes will be made on a case-by-case basis, the mortgage finance company said. more...
By Inman News, Monday, July 18, 2005. TitleVest Agency and Adobe Systems have partnered to create an online program that will generate multiple real estate documents by entering basic information just one time, the companies said today. The launch of the program is scheduled for Fall 2005, and it will reside at TitleVest.com, the company said. more...
By Inman News, Monday, July 18, 2005. Calling Patrick Balf of Allentown, Pa., a variation on the Robin Hood theme, U.S. District Judge Eduardo Robreno nevertheless sentenced Balf to five years in prison Friday, media reports said. Balf, 52, must also pay $2 million in restitution, the judge ruled Friday after Balf in November pled guilty to wire fraud, tax evasion and failing to file income tax returns, the Philadelphia Morning Call reported. more...
By Inman News, Monday, July 18, 2005. Privately owned housing starts in June were at a seasonally adjusted annual rate of 2,004,000. This is unchanged from the May estimate of 2,004,000 and is 9.7 percent above the June 2004 rate of 1,827,000, the U.S. Census Bureau and U.S. Department of Housing and Urban Development reported today. more...
By Inman News, Monday, July 18, 2005. Georgia ranks highest in the nation for reported mortgage fraud, South Carolina is second-highest and Florida is third, according to the Mortgage Asset Research Institute's seventh annual report. Mortgage fraud continues to increase in the United States, with the number of suspicious activity reports to the Federal Bureau of Investigation in 2004 almost triple those in 2003, according to a report by the FBI released in May. more...
By Inman News, Monday, July 18, 2005. Long-term mortgage interest rates were flat Monday, and the benchmark 10-year Treasury bond yield climbed to 4.22 percent. The 30-year fixed-rate average held at 5.27 percent, and the 15-year fixed-rate gained slightly to 4.86 percent. The 1-year adjustable was down at 3.72 percent. The 30-year Treasury bond yield increased to 4.46 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. more...
|
