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Fed plans more rate hikes in face of 'red-hot' economy

By Lou Barnes, Friday, February 17, 2006.

Mortgage rates stayed near 6.25 percent this week, but gradually improved in the face of upward pressure from all news.

January economic data have been red hot, but so was the weather, and we really can't tell the extent of distortion by the warmth. The employment gain, the best month for retail sales in five years, the surge in new-home starts and construction permits, today's wholesale "core" prices up by double the Fed's target -- that combination should have pushed long-term rates to new highs.

Did not.  more...

Mississippi attorney, pastor's son face real estate fraud charges

By Inman News, Friday, February 17, 2006.

A Mississippi attorney and the son of a high-profile Baptist pastor were among eight people who appeared in U.S. District Court Thursday in connection with a mortgage fraud scheme, media reports said.

Hattiesburg, Miss., attorney Kim Castle entered a plea of not guilty through her attorney Ray Price, reports said. She is accused of bank fraud, wire fraud and money laundering, according to reports.

Vaston Fairley, the 25-year-old son of the Rev.  more...

Broker launches flat-fee real estate network

By Inman News, Friday, February 17, 2006.

Lawrence Bunnell, CEO and principal broker for InSight Realty of Richmond, Va., this week announced the launch of a new Web site, MLSLion.com, to provide flat-fee real estate services nationwide.

The MLSLion network will offer consumers direct access to flat-fee real estate brokers in Alabama, Arizona, California, Colorado, Connecticut, Washington, D.C., Florida, Georgia, Illinois, Kansas, Kentucky, Massachusetts, Maryland, Michigan, Maryland, Minnesota, Missouri, North Carolina, New Jersey, Nevada, New York, Oklahoma, Oregon, Penns  more...

Picking the real estate apples from oranges

By Alison Rogers, Friday, February 17, 2006.

My first professional job out of college – let's not count the time I sold gourmet coffee beans at the Boston equivalent of Dean & Deluca – was on Wall Street. I was trying to figure out the working world (something I'm still attempting some 20 years later) so I would always classify the people I worked with. In this case, I was working with stock analysts, so they'd each become specialists on a specific industry, like computer software or clothing stores.  more...

Massachusetts real estate sales nail record in '05 Premium Content

By Inman News, Friday, February 17, 2006.

Despite predictions of a housing slump, the residential real estate market in Massachusetts experienced another year of steady growth in 2005 as total sales of detached single-family homes and condominiums set a record and median prices rose for a 12th consecutive year, according to data issued this week by the Massachusetts Association of Realtors.  more...

One-stop condo portal launches

By Inman News, Friday, February 17, 2006.

Global Condo Center Corp.  more...

Obama proposes reforms to combat real estate loan fraud

By Inman News, Friday, February 17, 2006.

Sen.  more...

Overnight real estate rates barely budge

By Inman News, Friday, February 17, 2006.

Long-term mortgage interest rates were mostly unchanged Thursday, and the benchmark 10-year Treasury bond yield dipped to 4.58 percent.

The 30-year fixed-rate average slipped to 5.86 percent, and the 15-year fixed-rate held at 5.48 percent. The 1-year adjustable was unchanged at 4.6 percent.

The 30-year Treasury bond yield remained at 4.57 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...

No banks in real estate, OCC says

By Inman News, Friday, February 17, 2006.

The U.S. Comptroller of the Currency Thursday said he has no intention of expanding his agency's "limited authority" to breach the separation of banking and commerce.

John C.  more...

Profile of an ace real estate rookie Premium Content

By Bernice Ross, Friday, February 17, 2006.

(This is Part 3 of a three-part series. See Part 1 and Part 2.)

Last week we looked at the demographic results of a new study examining the relationship between various factors and real estate success during agents' first two years in the business.  more...

Take your garage storage to new heights

By Paul Bianchina, Friday, February 17, 2006.

Looking for some extra storage room to get that garage organized once and for all? You might want to consider getting some help from above--the garage ceiling, that is.

At its simplest, overhead storage can take the form of some basic hooks and hangers for dealing with ladders, bikes, hoses, cords, and similar items. Check out any home center or hardware store, add in a little imagination, and you'll be surprised how quickly you can get any number of items off the floor and onto the ceiling.  more...

Supermarkets stand the test of time

By Arrol Gellner, Friday, February 17, 2006.

If you're of Baby Boom vintage or younger, you probably take your local supermarket for granted. You walk in, round up the Mr. Clean and Mrs. Butterworth, mince your way through the check stand, and you're done.

But grocery shopping wasn't always like that. The modern supermarket--technically known as a "self-service food store"--is a fairly recent invention.

Prior to World War II, grocery stores were usually very small, narrow affairs, and going shopping amounted to telling a clerk behind a counter exactly what was needed.  more...

Real estate exchange best way to maximize savings

By Robert Bruss, Friday, February 17, 2006.

(This is Part 6 of an eight-part series.  more...

Little money buys a lot of industrial space

By Inman News, Friday, February 17, 2006.

Binswanger has negotiated the purchase of a 590,000-square-foot facility on 36 acres in Anderson, Ind., and a 314,052-square-foot facility on 40 acres in Somerset, Ky. The properties are located at 1305 West 29th St. and at 1278 Highway 461, respectively.

The two transactions totaled nearly $2.5 million.

Tower Investments LLC, based in Northern California, is broadening its portfolio with these purchases and planning to retrofit both facilities. The properties will then be available for lease.  more...

Hines REIT acquires Airport Corporate Center

By Inman News, Friday, February 17, 2006.

Hines Real Estate Investment Trust Inc. has acquired a 45-acre office park in Miami, marking its first acquisition in Florida.

The value of the transaction was not disclosed.  more...

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