Tribune Interactive buys ForSaleByOwner.com

Tribune Co. said today that its Tribune Interactive subsidiary has purchased ForSaleByOwner.com, a national real estate site that connects home buyers and sellers through private-party residential property listings.

Terms of the acquisition were not disclosed.

Homeowners pay an advertising fee to list a home for sale on ForSaleByOwner.com and prospective home buyers can browse the database of properties at no charge.  more...

RE/MAX expands in Europe

The RE/MAX International real estate franchise system has expanded in Europe, as the company on Friday announced the sale of franchising rights for Hungary and Romania.

Balázs Posta and Bence Kesthely have purchased the rights for RE/MAX franchising in Hungary and will serve as co-region owners and regional directors.

Posta has worked numerous years in the real estate industry as a developer and in the mortgage business and holds TEGOVA, the European real estate certification, and FÜTI Omega, the Realtor and surveyor  more...

Cendant Mobility changes name to Cartus

Cendant Mobility, a subsidiary of Cendant Corp., said today that it has officially changed its name to Cartus, a name derived from "carte" or "charta," suggesting the art and technique of making maps (cartography) to plan or delineate one's future.

Cartus annually assists more than 100,000 transferring employees with moves into and out of more than 140 countries.

"Our new name evokes reach, exploration and growth," said Kevin Kelleher, president and CEO of Cartus, in a statement.  more...

Fannie Mae replaces audit panel head

Fannie Mae has replaced the chairman of its board's audit committee, a central part of the mortgage giant's struggle to deal with the $11 billion accounting scandal that continues to haunt the company.

Accounting professor Dennis Beresford will replace audit committee chairman Thomas Gerrity, the company said Friday, just days before federal regulators are scheduled to release a major report on their extensive examination of the government-sponsored company.  more...

Alain Pinel offers school, community info with real estate searches

Alain Pinel Realtors, an independent real estate company based in Los Gatos, Calif., announced today that the company now offers neighborhood and school data to accompany information on property details at its Web site, www.apr.com.

A "communities" section at the company's Web site provides information on neighborhood demographics, crime and housing statistics.  more...

Houston real estate smashes records

Total real estate sales in the Houston, Texas, market rose for the seventh straight month in April, as sales and prices for single-family homes topped records, the Houston Association of Realtors reported.

Total property sales, which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 7,053 in April, up 5.1 percent from April 2005.  more...

Overnight real estate rates dip

Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield held at 5.06 percent.

The 30-year fixed-rate average slipped to 6.2 percent, and the 15-year fixed-rate dropped to 5.86 percent. The 1-year adjustable held at 5.29 percent.

The 30-year Treasury bond yield fell to 5.14 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...