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European entity lands Reliant Energy Plaza

By Inman News, Monday, September 26, 2005.

German-based KanAm grundinvest Fonds has purchased Reliant Energy Plaza, a class A office tower in Houston.

The value of the transaction was not disclosed.

The property is situated at 1000 Main St. in the city's Central Business District. Completed in March 2003, the property has a leasable space of 837,161 square feet spread over 36 floors. In addition, the property includes a nine-level parking facility with 1,354 spaces and a large, two-floor retail atrium.

The property is the headquarters of utility concern and energy provider Reliant Energy.  more...

Hanover Square South sold in Virginia

By Inman News, Monday, September 26, 2005.

Thalhimer/Cushman & Wakefield Alliance arranged the sale of Hanover Square South Shopping Center in Mechanicsville, Va.

The value of the transaction was $19 million.

Commonwealth Opportunity Fund purchased the 79,000-square-foot shopping center, along with 10 acres of land adjacent to BJ's wholesale, from Cousins Properties.

The shopping center is located on Bell Creek Road and features Target, PetsMart, Panera Bread, Dress Barn, A&N, Lane Bryant, Alltel, Supercuts, Hallmark and I Sold It!  more...

Phillips Edison & Co. expands shopping-center portfolio

By Inman News, Monday, September 26, 2005.

Phillips Edison & Co. has acquired the Western Lights Shopping Center in Syracuse, N.Y., and Richardson Plaza in Columbia, S.C.

The total value of the transactions was not disclosed.

Western Lights totals 247,997 square feet and is anchored by Price Choppers and AJ Wright. Other retailers in the shopping center include Dollar Tree, Radio Shack and Fashion Bug.

Richardson Plaza comprises 107,827 square feet and is anchored by Food Lion. Other retailers in the shopping center include Harbor Freight Tools and Dollar General.  more...

Survive the storm and make money too Premium Content

By Jessica Swesey, Monday, September 26, 2005.

Editor's note: Some local real estate markets nationwide are seeing signs of change: increased listings inventory, increased days on the market, and more highly motivated sellers than in past years. Experienced real estate professionals say there's no need to panic as long as you're prepared. In this three-part series, we sought advice from industry veterans about how to survive and thrive in a changing real estate market.  more...

On the move with Global Mobility Premium Content

By Janis Mara, Monday, September 26, 2005.

Steve Ozonian is a man on the move, so in a way it's no surprise that the former home-ownership executive of Bank of America has made another move – and, all the more appropriately, to a firm that deals with moving.

The new CEO of relocation firm Global Mobility Solutions has big ideas for his new company, including an upcoming Web site, MyRelocation.com, that will include such disparate elements as relocation calculators and a real estate transaction management platform.  more...

Listing objections sure to kill a real estate deal

By Howard Brinton, Monday, September 26, 2005.

A potential customer calls your office and tells you she is thinking of selling her home and moving up to something bigger. You make an appointment right away to visit her home for a listing appointment and send out a nice pre-listing package to introduce your services. At the appointed time, you give a strong presentation and show her and her husband authoritative information to help them price the home competitively (just as we showed in the last few articles). There's no reason they shouldn't list with you. But they don't!  more...

Katrina wipes out consumer confidence

By Inman News, Monday, September 26, 2005.

The Conference Board today announced its consumer confidence index, which had rebounded in August, plummeted in September. The index now stands at 86.6, down from 105.5 in August.

The present situation index decreased to 108.9 from 123.8.  more...

New Sotheby's Web site a portal for luxury home searching

By Inman News, Monday, September 26, 2005.

The new Sotheby's International Realty Affiliates Web site at Sothebysrealty.com, which launched today, links the Sotheby's International Realty luxury real estate network and all of its property listings through this online portal.  more...

Real estate broker imprisoned, fined $200K for loan fraud

By Inman News, Monday, September 26, 2005.

A former New Jersey mortgage broker has been sentenced to five years in prison and ordered to make nearly $200,000 in restitution after pleading guilty to stealing home buyers' mortgage money, the Attorney General's office said Monday.

Jason Goddard, 32, of Summit, N.J., was sentenced by state Superior Court Judge Edward M. Coleman and ordered to repay $194,796 to four banks, mortgage institutions and a related business, Attorney General Peter C. Harvey said.  more...

New-home sales rise, prices moderate

By Inman News, Monday, September 26, 2005.

Sales of new, single-family homes were up about 6.2 percent from August 2004 to August 2005, while the median sales price increased 1 percent, the U.S. Census Bureau and the Department of Housing and Urban Development announced today.

The seasonally adjusted annual rate of sales was 1,237,000 in August, or about 9.9 percent below the revised July rate of 1,373,000. The seasonally adjusted annual rate projects a monthly sales total over a 12-month period, accounting for seasonal fluctuations in sales.  more...

NFL player finds niche in real estate

By Inman News, Monday, September 26, 2005.

Fannie Mae offers Hurricane Rita relief

By Inman News, Monday, September 26, 2005.

Fannie Mae will extend the same mortgage relief provisions in place for borrowers facing hardship as a result of Hurricane Katrina to those in areas impacted by Hurricane Rita, the mortgage giant announced late Monday.

The government-sponsored enterprise also announced a special employee volunteer policy to help the victims of the hurricanes in the Gulf Region.

With Fannie Mae's disaster relief provisions, lenders make individual case-by-case evaluations as to the appropriate relief measures needed and can help borrowers in several ways, Fannie Mae said.  more...

Median real estate price tops record in California

By Inman News, Monday, September 26, 2005.

The median price of an existing home in California in August increased 20.1 percent to a record $568,890, the California Association of Realtors reported Monday.

Sales increased 7 percent compared from August 2004 to August 2005 – the second strongest August sales figure on record since 1979.  more...

Overnight real estate rates head higher

By Inman News, Monday, September 26, 2005.

Long-term mortgage interest rates continued to rise Monday, and the benchmark 10-year Treasury bond yield edged up to 4.29 percent.

The 30-year fixed-rate average increased to 5.39 percent, and the 15-year fixed-rate gained to 4.96 percent. The 1-year adjustable was up at 3.98 percent.

The 30-year Treasury bond yield rose to 4.59 percent.

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

Real estate lender goes the extra mile to teach consumers

By Inman News, Monday, September 26, 2005.

The eBus, a mobile financial classroom, is rolling into Washington, D.C., today thanks to financial services company BB&T and mortgage giant Freddie Mac.

The unique, 40-foot BB&T eBus, a modern, mobile financial classroom, will offer visitors financial education and valuable information regarding home ownership, BB&T said. It will tour the Capital region to bring home-ownership education directly to people where they live and work, the companies said.  more...

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