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Bascom makes $190M multifamily purchase

By Inman News, Thursday, June 8, 2006.

The Bascom Group LLC has purchased The Breakers Resort, a 1,523-unit luxury apartment community in Denver, Colo.

The value of the transaction was $190.5 million.

The Breakers Resort, located at 9099 East Mississippi Ave., is a class A, luxury resort community built around a 50-acre man-made marina (Sunfish Lake). The community is comprised of six development phases (Oyster Keys, Friday's Harbor, Marble Head, Gold Coast, Winter Beach, and Boundary Bay). Unit sizes range from 650 square feet up to 1,809 square feet with an average of 1,019 square feet.  more...

STAG Capital grows South Carolina holdings

By Inman News, Thursday, June 8, 2006.

STAG Capital Partners recently purchased a 198,400-square-foot warehouse/distribution facility in Rock Hill, S.C., which marks the company's third acquisition in the state.

The value of the transaction was not disclosed.

The building, located on 14.8 acres at 700 Marine Drive, also known as 127 Catawba South Drive, is master leased to USC Solutions on a 10-year, triple net term. USC Solutions provides repackaging, distribution and logistical solutions to Fortune 500 companies such as Kraft, Con-Agra, Unilever, Coty, Welch Foods and Black and Decker.  more...

Younan sheds L.A.'s Sepulveda Center

By Inman News, Thursday, June 8, 2006.

Younan Properties Inc. this week announced the sale of Sepulveda Center, a 173,727-square-foot office building in Los Angeles.

The value of the transaction was $50.5 million.

Newport Beach, Calif.-based KBS Realty purchased the 12-story building, which is located at 3415 Sepulveda Blvd. Built in 1982, the all-glass building was 98 percent occupied at the time of sale by major tenants that include JAMDAT Mobile and Freeman, Freeman & Smiley.

Younan Properties had purchased the property in January 2004 for $27.5 million, according to a press statement.  more...

Interest rates may have 'topped'

By Lou Barnes, Thursday, June 8, 2006.

Ten-year Treasury yields are bouncing close to 5 percent, holding mortgages in familiar terrain just above 6.5 percent. Stocks worldwide have had a horrible month, all commodities except oil have cracked (gold the leader, today $614 vs. last month's $728 high), and odds are improving that interest rates have topped.

Watching the immediate impact of news on markets told a very different story this week than the media did.

The week opened with a speech by Federal Reserve Chair Ben Bernanke, who at last discovered the Fed Phrasebook.  more...

Mississippi could face long-term housing troubles

By Inman News, Thursday, June 8, 2006.

Mississippi could face a long-term shortage of affordable housing in the wake of rebuilding efforts from last year's Gulf Coast hurricanes if leaders don't take action now, a new report urges.

Tens of thousands of Mississippi families whose homes were damaged or destroyed by hurricanes last year will have a hard time finding replacement housing in the state unless government and private sector leaders work to accelerate rebuilding of affordable housing, according to a RAND Corp.  more...

Official: U.S. should take back Fannie Mae bonuses

By Inman News, Thursday, June 8, 2006.

The government will pursue some Fannie Mae executives to recover bonus money they reaped in an accounting scheme, if the mortgage giant itself fails to do so, an official said Thursday, according to media accounts.

At his confirmation hearing Thursday to become permanent director of the Office of Federal Housing Enterprise Oversight, James B.  more...

Survey: College-educated young adults favor place over jobs Premium Content

By Inman News, Thursday, June 8, 2006.

Place is more important than professional opportunities to college-educated people ages 25-34, according to a survey released today.

The Segmentation Co., a division of marketing consultancy Yankelovich Inc., conducted the online survey for CEOs for Cities, a network of mayors, corporate executives, university presidents, foundation officials and community leaders from major cities.

About 64 percent of respondents stated that they would look for a job in a place that they would like to live, with 36 perce  more...

Government upbeat on economic growth

By Inman News, Thursday, June 8, 2006.

The latest economic forecast from three federal agencies shows continued robust economic growth and a strong labor market, reflecting faster-than-expected development at the beginning of this year.

"The forecast is a conservative analysis by three federal agencies, and it shows the economy is strong," said Edward P. Lazear, chairman of the Council of Economic Advisers, which released the forecast Thursday with the Department of Treasury and the Office of Management and Budget.

The administration releases an economic forecast twice a year.  more...

Trolling Web message boards

By Alison Rogers, Thursday, June 8, 2006.

"Are you my mommy?"

I just watched a spooky science fiction show where this odd, ghostly child keeps going up to different adults and asking them that, over and over. "Are you my mommy?"

And it's creepy because the kid is creepy, and it's creepy because of the insistence of the request, and it's creepy because of the repetition.  more...

Nashville real estate sales climb

By Inman News, Thursday, June 8, 2006.

Home sales in the Greater Nashville, Tenn., area grew in May from a year ago, albeit at a much slower pace than at the beginning of 2006, the Greater Nashville Association of Realtors reported Thursday.

There were 3,753 total real estate sales reported for the month of May, up 4.2 percent from the 3,600 closings reported for May 2005.  more...

Mixed movement in overnight real estate rates

By Inman News, Thursday, June 8, 2006.

Long-term mortgage interest rates were mostly flat Thursday, and the benchmark 10-year Treasury bond yield sank to 5 percent.

The 30-year fixed-rate average sank to 6.18 percent, and the 15-year fixed-rate held at 5.87 percent. The 1-year adjustable was unchanged at 5.25 percent.

The 30-year Treasury bond yield decreased to 5.06 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...

Real estate search goes organic Premium Content

By Bernice Ross, Thursday, June 8, 2006.

How can you maximize your return on your Web advertising campaign with a minimum amount of cost?  more...

Cendant ponders delay of Realogy spin-off

By Inman News, Thursday, June 8, 2006.

Cendant Corp.  more...

Beware of falling in love with remodeled home

By Paul Bianchina, Thursday, June 8, 2006.

Are you falling in love with a home that was just remodeled, but want to make sure it was done right before you consider buying it? Remodeling that is all glitz with no substance can be an invitation to some real headaches down the road, so here are a few major things to pay attention to while you're shopping.  more...

1920s jumpstart new era in home technology

By Arrol Gellner, Thursday, June 8, 2006.

Every so often, there's a brief span of years in which innovation comes thick and fast. In the area of building technology, the Roaring '20s was such an age. The houses of this decade were chock full of new ideas that, quaint as they seem to us now, let Americans live more comfortably than ever before.

The homes of the 1920s were, for one, the first to truly integrate electricity. In prior years, clumsy surface installations of switches and wiring were still common, along with lighting fixtures that often consisted of little more than a naked bulb at the end of a cord.  more...

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