Nation's second-largest MLS forms

The Southern California Multiple Listing Service (SoCalMLS) and the Southland Regional Association of Realtors (SRAR) today announced an agreement that will form the second-largest multiple listing service in the nation.

Under the agreement, SRAR, which currently operates CRIS-Net Regional MLS, has contracted SoCalMLS to provide MLS systems and services to its 15,000 members. SoCalMLS, based in Anaheim, is California's largest MLS with 40,000 subscribers.  more...

Buyers with limited credit history may qualify for prime loans

First American Corp.  more...

Australia's Realestate.com.au buys Italian Web site

The REA Group, which owns top Australian real estate Web site realestate.com.au, has partnered with News Corp.'s SKY Italia to acquire 90 percent of Italy's largest real estate site, Casa.it, for 9.6 million euro. (1 usd = .78 euro)

Founded in 1996, Casa.it has operations in Treviso, Northern Italy, and call center operations in Bucharest, Romania. The site is considered Italy's largest real estate site with more than 2,800 agent subscribers and 130,000 homes advertised for sale or for rent.

Following the transaction, Realestate.com.au Ltd.  more...

Pacific Northwest home buyers gain advantage

Home sales in western and central Washington sank for the eighth straight month in October, as a surge in listings gave buyers more time to gauge the market, according to the latest figures from Northwest Multiple Listing Service.

Brokers reported 8,036 home sales last month, down 11 percent from a year earlier when 9,035 sales were recorded, according to MLS statistics.  more...

MLSs offer wireless access to property information

Most Home Real Estate Services Inc.  more...

Real estate refinancings surge 11%

Overall mortgage applications jumped 8.8 percent last week on a seasonally adjusted basis from the week before, as relatively flat interest rates sparked an uptick in refinancings and new purchases, the Mortgage Bankers Association reported today.

The seasonally adjusted refinance index increased by 11 percent to 1,897.9 from 1,709.2 the previous week, and the purchase index increased by 7.1 percent to 402.2 from 375.6 one week earlier.  more...

Overnight real estate rates slide

Long-term mortgage interest rates fell Tuesday, and the benchmark 10-year Treasury bond yield slipped to 4.66 percent.

The 30-year fixed-rate average dropped to 5.81 percent, and the 15-year fixed rate decreased to 5.53 percent. The 1-year adjustable held at 5.36 percent.

The 30-year Treasury bond yield sank to 4.76 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...