'Apprentice' show attracts more real estate blood

As NBC and "Trumpies" gear up for yet another season of real estate billionaire Donald Trump's reality TV show "The Apprentice," the roster of season four contestants includes a handful with real estate backgrounds.

NBC last week released the names of this season's cast, hand-picked for the first time by co-executive producer Trump himself.

"I'm thrilled with the results," Trump said in a statement. "This is the best reality show cast I've ever encountered. They have it all: beauty, brains and big bucks."

And of course, real estate experience.  more...

Apartment industry gets automated pricing technology

The apartment industry now has an online rate-updating tool through Realty DataTrust's VaultWare DX, the company announced today.

VaultWare is an online availability and reservation service for apartment leasing agents and property management companies. The new enhancements provide automated online pricing updates for available apartments.  more...

New site helps Katrina victims find housing

A new Web site, www.HurricaneHousing.net, designed to help disaster victims find housing in the aftermath of Hurricane Katrina, has launched, Louisiana's Realtor association said today.

The Web site allows property owners with rental units available to post information on those units and allows potential renters to search for temporary and longer-term housing in a seven-state area, the association said.  more...

Katrina could impact up to 360,000 real estate loans

The Mortgage Bankers Association estimates that up to 360,000 real estate loans could be directly or indirectly impacted by Hurricane Katrina and are valued at up to $48 billion.

The mortgage banking trade group and its members encourage victims of Hurricane Katrina to directly contact the mortgage company that they regularly make mortgage loan payments to as soon as possible.  more...

Luxury real estate breaks records in Manhattan

Manhattan's luxury real estate market for the first half of 2005 remained strong, following a similar pattern to that of 2004, according to a report released today.

"Just like the first half of 2004, the market raged into late spring of 2005, prices surged, more records were broken and inventory plunged," said Kirk Henckels, executive vice president and director of Stribling Private Brokerage, author of the report.  more...

'Con man' ignores ban on real estate deals, goes to jail

A man described by authorities as one of Oregon's most prolific con men is back in jail after ignoring a federal judge who banned him from any real estate deals while he appeals a three-year prison sentence, media reports said.

Prosecutors allege that since his federal conviction two years ago, Cleburne Jr. Brigham has run an illegal mortgage brokerage company, falsified loan documents and scammed hundreds of thousands of dollars, the Associated Press reported.  more...

HUD pumps money into rural housing, economies

Housing and Urban Development Secretary Alphonso Jackson on Tuesday announced $23.7 million in grants to more than 100 rural communities nationwide to stimulate their local economies, produce more affordable housing, and create jobs.  more...

Homestore branch builds Web site for Katrina housing

Homestore's Welcome Wagon today launched a Web site where individuals and families in need of temporary or permanent housing in the wake of Hurricane Katrina can go to search for available housing in shelters, churches, apartment complexes, single-family homes and senior facilities throughout the Gulf Coast and neighboring communities.

The site can be accessed at http://relief.welcomewagon.com.  more...

Illinois men sentenced in real estate fraud scheme

Two central Illinois men were sentenced last week to 20 months in federal prison for defrauding banks and mortgage companies of more than $1 million in a mortgage fraud scheme, officials said.

U.S. District Judge Richard Mills sentenced Randolph McAfee, age 38 of Springfield, Ill., and Darrin Shipley, age 38 of Peoria, Ill., to 20 months in prison and ordered that the defendants pay restitution in the total amount of $1,125,446 to four banks and mortgage lending companies the two defrauded in the late 1990s.  more...

Real estate purchases rebound

Overall mortgage applications climbed 6.8 percent last week on a seasonally adjusted basis from the week before, according to the Mortgage Bankers Associations' weekly survey.

The seasonally adjusted purchase index increased by 6.1 percent to 499.1 from 470.6 the previous week, while the refinance index increased by 7.7 percent to 2,357.1 from 2,187.8 one week earlier.

"While the volume of both ARM applications and fixed-rate applications increased from last week, 0.4 percent and 7.4 percent, respectively, the year-over-year trend is a different story," said Michael Cevarr,  more...

Overnight real estate rates inch higher

Long-term mortgage interest rates were up Tuesday, and the benchmark 10-year Treasury bond yield climbed to 4.09 percent.

The 30-year fixed-rate average edged up to 5.22 percent, and the 15-year fixed-rate rose to 4.79 percent. The 1-year adjustable was unchanged at 3.82 percent.

The 30-year Treasury bond yield increased to 4.36 percent.

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

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