By Glenn Roberts Jr., Monday, August 15, 2005. Joe and Nickole Hayward got a check for $5,000 after they sold their home in Tucson, Ariz., and bought another home in the area using the same real estate company. They worked with Two4One Real Estate, a company that has adapted a "buy one get one free" business strategy for real estate services. The Haywards heard about the company from a friend, and the couple decided to use Two4One after checking out a couple of other real estate companies in the area. "We'd be out $5,000 had we not gone through (this company)," Jo more...
By Inman News, Monday, August 15, 2005. Grubb & Ellis/BRE Commercial negotiated the sale of The Shops at Gainey Village in Scottsdale, Ariz., for $73 million. Located at 8787 N. Scottsdale Road, the 143,409-square-foot project combines shops, upscale boutiques, family and fine dining. The property resides on more than 14 acres of space that was previously occupied by a horse ranch, and its design strongly reflects that influence, from the rooflines and unique towers, down to the fountains that resemble horse troughs. more...
By Inman News, Monday, August 15, 2005. Marcus & Millichap brokered the sale of Yosemite Park, a brand-new retail center in Centennial, Colo. The value of the transaction was $28.2 million. The Woodmont Co. and Commercial Net Lease Realty Services Inc. sold the property to GDA Real Estate Services. Yosemite Park is located at 9090 E. Philips Place. Construction on Yosemite Park began in 2004 and will be completed this year. The retail center has approximately 102,000 square feet and is anchored by a 35,000-square-foot Jo Ann Fabrics store. more...
By Inman News, Monday, August 15, 2005. The Hampshire Cos. has sold a 301,626-square-foot industrial building in New Brunswick, N.J. The sale was valued at approximately $16.8 million. The property, located at 571 Jersey Ave., was fully leased to C&S Wholesale Grocers at the time of sale. Hampshire had recently negotiated a long-term lease renewal with C&S Wholesale Grocers, which uses the property as a regional distribution hub. The buyer's identity was not disclosed. The Hampshire Cos. is a full-service, private real estate investment fund manager based in Morristown, N.J. more...
By Janis Mara, Monday, August 15, 2005. "If you can e-mail, you can blog," says Lockhart Steele, blogger of the real estate-centric Web site Curbed.com and managing editor of Gawker Media. Steele, whose Curbed.com site scores 200,000 unique visitors a month and boasts the New York Times as an advertiser, extols blogs as marketing devices. Steele, who won an Inman Innovator Award this year in the Most Innovative Media Site category, reports on real estate events in New York from an offbeat perspective. more...
By Inman News, Monday, August 15, 2005. San Francisco Bay Area home sales sank in July from a year earlier, according to DataQuick Information Systems, a real estate information service, and home prices dropped from June to July. After reaching a new record in Bay Area median home prices in June 2005, at $610,000, the median price slipped to $606,000 in July, DataQuick reported. But home-price increases were still in double digits from July 2004 to July 2005 in all of the Bay Area counties tracked by DataQuick. more...
By Inman News, Monday, August 15, 2005. Intero Real Estate Services Inc. today announced that it was recognized by Realtor Magazine as the fastest-growing real estate company in the nation. Realtor Magazine, the official magazine of the National Association of Realtors trade group, ranked Intero first among about 80,000 brokerages nationwide in growth of sales, which increased 167.6 percent, and transaction sides, which increased 128.3 percent. "This is truly an incredible accomplishment in our second full year of operation," said Gino Blefari, founder, president and CEO of Intero Real Estate Services. more...
By Inman News, Monday, August 15, 2005. The Conference Board today announced that its Help-Wanted OnLine Data Series showed the number of new online job ads fell slightly to 1.97 million in July from just over 2 million in May and June. The latest figure is still almost 10 percent higher than the nearly 1.8 million new online jobs posted in April. The Help-Wanted OnLine Data Series measures the number of new, first-time online job ads posted on more than 1,200 major Internet job boards and smaller job boards that serve niche markets and smaller geographic areas. more...
By Inman News, Monday, August 15, 2005. Consumerinfo.com Inc., doing business as Experian Consumer Direct, has settled Federal Trade Commission charges that it deceptively marketed "free credit reports" by not adequately disclosing that consumers automatically would be signed up for a credit report monitoring service and charged $79.95 if they didn't cancel within 30 days, in violation of federal law. more...
By Inman News, Monday, August 15, 2005. Privately owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 2.17 million, the U.S. Census Bureau and the Department of Housing and Urban Development announced today. This is about 1.6 percent above the revised June rate of 2.13 million and is about 2.5 percent above the July 2004 estimate of 2.11 million. The seasonally adjusted annual rate projects a monthly total over a 12-month period and accounts for seasonal fluctuations in statistics. more...
By Inman News, Monday, August 15, 2005. Sales of single-family existing homes in Florida rose 4 percent in second-quarter 2005 compared to the same time last year, according to the Florida Association of Realtors, with Realtors reporting 74,317 sales, up from 71,724 homes sold in second-quarter 2004. The statewide median sales price for the second quarter rose 29 percent to $233,600; a year ago, it was $180,700, according to FAR. In June, the national median price of an existing single-family home was $218,600, up 14.5 percent from a year ago. more...
By Inman News, Monday, August 15, 2005. Long-term mortgage interest rates fell again Monday, and the benchmark 10-year Treasury bond yield climbed to 4.29 percent. The 30-year fixed-rate average sank to 5.37 percent, and the 15-year fixed-rate dipped to 4.98 percent. The 1-year adjustable was unchanged at 3.83 percent. The 30-year Treasury bond yield increased to 4.48 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. more...
By Robert Bruss, Monday, August 15, 2005.
Don't get turned off by the ugly cover of "Good House Hunting: 20 Steps to Your Dream Home" by architect Dennis Wedlick. The book is much better than the odd-shaped house on the cover. In fact, the mostly beautiful color photos make this almost a "coffee table quality" home design book. This is not a book for first-time home buyers who are stretching their budgets. Rather, it is for homeowners who either want to move up to a nicer house or condo, or who are considering remodeling their present home rather than moving. In other words, it is an idea book. more...
By Barry Stone, Monday, August 15, 2005.
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