Home

Abbey enters Northern California market

By Inman News, Sunday, October 8, 2006.

Making its debut in the Northern California commercial real estate market, The Abbey Co. purchased a 185,859-square-foot office building in Sacramento.

The value of the transaction was not disclosed.

The Landmark is a six-story, class A property situated on 10.6 acres at 1750 Howe Ave.  more...

Lumber co. relocates Nebraska space

By Inman News, Sunday, October 8, 2006.

Binswanger negotiated the sale of a 580,000-square-foot industrial building in Omaha, Neb.

The value of the transaction was not disclosed.

Connectivity Solutions Manufacturing, which specializes in cable and connectivity solutions for communications applications, sold the 70-acre property to Millard Lumber Inc., which is consolidating several local operations into this facility.

The property, located at 12900 I St., is one of an approximately 2 million-square-foot, 200-acre complex formerly owned entirely by Connectivity Solutions Manufacturing.  more...

Las Vegas apartments sell for $12M

By Inman News, Sunday, October 8, 2006.

Marcus & Millichap arranged the sale of the 124-unit Santa Fe Shadows apartment property in Las Vegas.

The sales price of $12 million represents a price of $97,000 per unit.

Located at 1111 Warbonnet Way, the 4.7-acre complex features a mix of one- and two-bedroom units. Completed in 1989, the apartment asset has 12 two-story buildings and a number of amenities, including a resort-style pool/spa, as well as a clubhouse.  more...

RealEstate.com brokerage model keeps with tradition Premium Content

By Glenn Roberts Jr., Sunday, October 8, 2006.

No newfangled business model. No flashy discount or rebate offers, and no radical real estate gizmos or gimmicks.

RealEstate.com brokerage operations, launched last year, are not much different from those offered by many traditional real estate companies.  more...

BasePoint, Compliance Ease form distribution partnership

By Inman News, Sunday, October 8, 2006.

A Web-based service that allows lenders to check loans to make sure they meet regulatory requirements will now also scan for signs of fraud.

BasePoint Analytics today announced a distribution partnership with ComplianceEase, in which the company's FraudMark technology will be offered to users of ComplianceEase's Web-based service, ComplianceAnalyzer.

ComplianceAnalyzer is an automated system used by mortgage lenders, banks and inv  more...

South Florida buyer's market continues

By Inman News, Sunday, October 8, 2006.

Residential real estate sales and prices in South Florida's Broward County continued to fall in September amid a massive supply of homes for sale, according to statistics provided by the Realtor Association of Greater Fort Lauderdale.

Single-family home sales totaled 639 last month, down 27.6 percent from a year earlier when 882 homes were sold.  more...

Sotheby's franchisor company grants master license in Canada

By Inman News, Sunday, October 8, 2006.

Sotheby's International Realty Affiliates Inc., a subsidiary of Realogy Corp. (NYSE: H), today announced that it has awarded exclusive master franchise rights for the Sotheby's International Realty brand for all of Canada.

The franchise company has awarded the rights to Sotheby's International Realty Canada, a luxury real estate firm owned by Vancouver businessman Ross McCredie, according to a company announ  more...

Mortgage company sues over alleged inflated appraisals

By Inman News, Sunday, October 8, 2006.

An Arizona-based mortgage company claims it has been forced to foreclose on 19 homes in the Kansas City, Mo., area because of a scheme involving inflated appraisals, false borrower information and stolen identities.

First Magnus Financial Corp.  more...

Overnight real estate rates post gains

By Inman News, Sunday, October 8, 2006.

Long-term mortgage interest rates were up Friday, and the benchmark 10-year Treasury bond yield jumped to 4.7 percent.

The 30-year fixed-rate average increased to 5.82 percent, and the 15-year fixed-rate rose to 5.52 percent. The 1-year adjustable was up at 5.33 percent.

The 30-year Treasury bond yield increased to 4.84 percent.

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

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Canadian Realtor group meets opposition over MLS rules Premium Content

By Glenn Roberts Jr., Sunday, October 8, 2006.

Member groups of the Canadian Real Estate Association have put off a decision on controversial changes to national Multiple Listing Service rules that were questioned by discount real estate brokers and a government antitrust enforcement agency.

The association, which is Canada's equivalent of the U.S.-based National Association of Realtors, announced that it sought to strengthen the MLS trademark through the rule changes, which would have mandated additional services for brokers in or  more...

Simple-interest mortgage: Why tracking payoff is so tricky

By Jack Guttentag, Sunday, October 8, 2006.

"I have a simple-interest mortgage and want to develop an amortization schedule. I called the lender, but they don't have one, and they did not know how to advise me on how to calculate one."

A simple-interest mortgage is one on which interest is calculated daily instead of monthly. On a 6 percent loan, for example, .06 is divided by 365 to obtain a daily rate of .016438 percent. This is multiplied by the balance every day to calculate the daily interest.  more...

What is the best counteroffer strategy?

By Dian Hymer, Sunday, October 8, 2006.

Not only is it taking longer to sell homes in the current real estate market, but it's also taking more time to negotiate most purchase contracts. Factor this into your game plan as you forge ahead in the new home-sale market.

Some people have an adverse reaction to negotiation. They would rather state their price upfront, along with a message to the other party to either take it or leave it. Last year, that approach worked fine. In fact, it was the only option for some buyers in multiple-offer situations; their first offer had to be their best offer or they were out of luck.  more...

How can home prices rise as sales sink?

By Robert Bruss, Sunday, October 8, 2006.

DEAR BOB: I have been selling homes successfully for about three years. In 2005, I earned over $100,000 in sales commissions. But my earnings in 2006 will be much less due to the slowdown in the home-sales market. However, I'm not making as many sales as last year. As I read the newspapers and real estate trade journals, I'm wondering why the national home sales prices keep going up but the number of home sales is dropping. What is your view on today's home sales market? --Susan R.

DEAR SUSAN: You raise very challenging questions.  more...