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Office, industrial space fills up in Dallas

By Inman News, Sunday, June 4, 2006.

Grubb & Ellis Co. recently arranged two lease agreements and one sale of industrial and office space in the Dallas-Fort Worth metro area of Texas.

The total value of the transactions was not disclosed.

In the first transaction, North Star Centreport LLC purchased 29,352 square feet of industrial space at the Centreport Business Center. Jackson Shaw sold the property, which is located at 4690 Diplomacy in Fort Worth.  more...

Wateridge Tech Center gets new owner

By Inman News, Sunday, June 4, 2006.

Foster City, Calif.-based Legacy Partners recently purchased the two-building, 128,296-square-foot Wateridge Technology Center in San Diego, Calif.

The value of the transaction was $32.8 million.

The class A office and corporate headquarters buildings are located within the Sorrento Mesa master-planned Wateridge Business Park at 10421 and 10431 Wateridge Circle.  

The Allen Group, based in San Diego, sold the property, whose major tenant is American Mortgage Network Inc., a wholly owned subsidiary of Wachovia Corp.

Condo conversion portfolio sells near San Francisco

By Inman News, Sunday, June 4, 2006.

San Francisco condo developer and converter, Acquest Residential LLC, has purchased three multifamily communities totaling 148 units in nearby Hayward, Calif.

The value of the portfolio transaction was approximately $41 million.

The sellers were partnerships owned and managed by the Felson Cos. of Hayward, a local development family that originally built the communities.  more...

Real estate market slowdown a boon to some buyers Premium Content

By Janis Mara, Sunday, June 4, 2006.

For years, Rebecca Nathenson, a product manager for a San Jose, Calif., firm, and her fiancé Eric Kline have wanted to buy a house.  more...

U.S. home-price growth slows in first quarter

By Inman News, Sunday, June 4, 2006.

Freddie Mac today announced that its Conventional Mortgage Home Price Index increased by 8.7 percent on an annualized basis in the first quarter of 2006, down from a revised fourth-quarter-2005 rate of 12.9 percent and a third-quarter-2005 growth rate of 13.7 percent.

Nationally, home values increased 12.7 percent from the first quarter of 2005 through the first quarter of 2006, down from the 12.9 percent annual growth seen over the four quarters ended in March 2005.

"Home prices are starting to feel the eff  more...

Renters less confident than owners in managing credit

By Inman News, Sunday, June 4, 2006.

Homeowners and renters feel differently about managing their credit, with more renters than homeowners saying they believe they have more debt than they should, according to an industry survey released today.

More than 81 percent of homeowners and 65 percent of renters believe that they manage their credit extremely well, according to a survey of more than 1,200 people conducted by the Mortgage Bankers Association, an industry trade group.  more...

Digital Risk technology fights real estate loan fraud

By Janis Mara, Sunday, June 4, 2006.

As real estate loan fraud mounts across the country, more technology companies are throwing their hats into the ring of fraud-fighting solutions.

Digital Risk's software evaluates loans to help mortgage lenders avoid real estate loan fraud, using identity authentication services.  more...

WaMu to lay off 200 more

By Inman News, Sunday, June 4, 2006.

Continuing a wave of layoffs, Washington Mutual Inc. will close its Austin, Texas, call center by 2007, a move that affects more than 200 employees, media reports said Thursday.

In late May, the company notified 1,400 of the savings and loan's workers in Washington state and Florida that they will lose their jobs as part of a cost-saving strategy, media reports said.

Other companies in the mortgage arena have announced layoffs as well. The parent company of Ameriquest Mortgage Co.  more...

Young baby boomers are typical owners of luxury homes Premium Content

By Inman News, Sunday, June 4, 2006.

Today's owners of million-dollar homes are typically younger baby boomers who work for a corporation, maintain diversified investment portfolios, and have household income of less than $500,000. Their homes can include such amenities as entertainment rooms, designer kitchens and wine cellars, according to the 2006 Coldwell Banker Previews International Luxury Survey.

The annual survey, which included interviews with 300 U.S.  more...

Record sales boost Toronto real estate

By Inman News, Sunday, June 4, 2006.

Home sales in the Toronto, Canada, metro area reached an all-time high in May, as prices continued to grow, the Toronto Real Estate Board reported today.

The 9,434 transactions that took place last month were 2 percent higher than May 2005 and nearly 2 percent above the previous monthly record of 9,275 sales set in June 2004, according to TREB.

"This result is very positive for a number of reasons," said TREB President John Meehan. "We are seeing strong sales totals, yet the pace is very steady and controlled, which is a good sign.  more...

Overnight real estate rates fall

By Inman News, Sunday, June 4, 2006.

Long-term mortgage interest rates were down Friday, and the benchmark 10-year Treasury bond yield fell to 4.99 percent.

The 30-year fixed-rate average dropped to 6.2 percent, and the 15-year fixed-rate sank to 5.87 percent. The 1-year adjustable was up slightly at 5.29 percent.

The 30-year Treasury bond yield sank to 5.1 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...

Print struggles for share in online real estate Premium Content

By Jessica Swesey, Sunday, June 4, 2006.

Editor's note: This three-part series examines structural changes within the classifieds industry, obstacles newspapers have to overcome to stay in the game, and what some publications are doing to differentiate  themselves and to build a heavier online footprint with real estate.  more...

DOJ, FTC issue new letter to protest Michigan real estate bills

By Inman News, Sunday, June 4, 2006.

The U.S. Justice Department and Federal Trade Commission, in a Friday letter to Michigan state officials, restated opposition to legislation that would require real estate agents and brokers to perform certain services for clients when they enter into a formal service agreement with those clients.

The letter, sent to Michigan state Lt. Gov. John D. Cherry and state Sen. Patricia L. Birkholz, R-Saugatuck Township, encourages the Senate to reject House Bill 4849, which could go up for a vote next week.  more...

Can mortgage broker protect against lender overcharges?

By Jack Guttentag, Sunday, June 4, 2006.

Q: If I deal with a mortgage broker, can I depend on the broker to protect me against overcharges by all the other players in the transaction?

Yes, no, maybe. Sorry about the ambiguity, but the answer depends on the source of the charge, on the type of transaction, and on the operating practices of the individual broker.

Dealing with a broker does protect you against excessive fixed-dollar fees by retail lenders.  more...

Is selling for-sale-by-owner worth the risk?

By Dian Hymer, Sunday, June 4, 2006.

Most homeowners who attempt to sell without using a real estate agent do so in order to save the commission. In other words, the impetus to sell without an agent is to net more money from the sale. The irony is that the median price of for-sale-by-owner (FSBO) homes in 2004 was 15.4 percent less than the median price for home sales where an agent was involved.

One risk of selling without an agent is that you sell too low. FSBOs tend to attract buyers who are looking for a bargain. Like FSBO sellers, FSBO buyers want to save money by paying less.  more...

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