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Slowing economy, the Fed and rate hikes

By Lou Barnes, Thursday, July 6, 2006.

The Fed's statement last week switched from a May forecast for a moderating economy to a declarative: economic growth is moderating. Now.

Unlike a certain past-Fed president, the Fed has no history of alternate meanings for the verb "to be" -- is means is. Fed Chair Ben Bernanke got it dead center: every current-condition datum released this week reflected a slowing economy.  more...

Apartment buyer expands in S.F. Bay Area

By Inman News, Thursday, July 6, 2006.

Archstone-Smith on Thursday announced the acquisition of The Benton, a 322-unit multifamily community in Fremont, Calif.

The value of the transaction was $79.6 million.

The Benton, built in 2003, features one-, two- and three-bedroom apartments; an on-site fitness center; business center with conference room; pool/spa; billiards room; covered parking; and 15,000 square feet of on-site, ground-floor retail space occupied by a Starbucks and a variety of other local businesses.  more...

East Coast office portfolio sells for $50M

By Inman News, Thursday, July 6, 2006.

Transwestern's Washington, D.C., office brokered the acquisition of a three-building, 299,947-square-foot office portfolio comprised of space in Maryland and Virginia.

The total value of the transaction was $50.9 million.

The properties include: 1355 Piccard Drive, a 127,709-square-foot office building in Rockville, Md.; 1451 Rockville Pike, a 103,001-square-foot office building also in Rockville; and 2020 North 14th St., a 69,237-square-foot office building in Arlington, Va.  more...

Indiana distribution facility sold

By Inman News, Thursday, July 6, 2006.

Lexington Strategic Asset Corp. on Thursday announced it acquired a distribution facility in Plymouth, Ind., for a purchase price of approximately $8.9 million.

The distribution facility consists of two single-story warehouse/distribution buildings that are linked by a common walkway and contain an aggregate of approximately 300,500 square feet on an approximately 16.3-acre parcel of land.

At the time of sale, the facility was net leased to Bay Valley Foods LLC through June 2015.  more...

Real estate investor pleads guilty to $17.5M fraud

By Inman News, Thursday, July 6, 2006.

A Kansas City, Mo., real estate investor on Thursday pleaded guilty in federal court to a $17.5 million mortgage fraud scheme that involved 280 residential properties, officials said.

Jeffrey Tyler Wine, 28, waived his right to indictment and pleaded guilty before U.S. Chief District Judge Dean Whipple to charges of mortgage fraud conspiracy and money laundering, according to U.S. Attorney Bradley J.  more...

Survey: Home-buyer, seller demand on equal footing

By Inman News, Thursday, July 6, 2006.

The U.S. housing market has reached a balance in buyer and seller demand, according to a survey released Thursday, with 41 percent of participating real estate agents saying they had more buyers and sellers, 40 percent saying they had more sellers than buyers and 19 percent reporting a 50-50 balance.

The most notable exceptions are in the Northeast, the Chicago metropolitan area and in the Western states, according to the survey from HouseHunt. Home buyers outnumber sellers by considerable margins in Chicago and the West, while sellers outnumber buyers in the Northeast.  more...

Buyers are liars

By Alison Rogers, Thursday, July 6, 2006.

Once I went to hear Jon Krakauer, the mountain climber/writer, speak about his book "Into Thin Air." The book is about a terrible mountaineering accident, and the thing I remember Krakauer saying is that mountaineering is so dangerous because there are so many different ways to die -- you can fall, or you can freeze to death, or you can have an aneurysm, or you can get hit by an avalanche, or your oxygen fails and you simply run out of breath.  more...

Iowa real estate turning into buyer's market

By Inman News, Thursday, July 6, 2006.

Although Iowa home sales overall gained modestly in May from their year-ago level and the median home price held steady, several markets are seeing significant slowing, according to the Iowa Association of Realtors.

Realtors reported 3,953 home sales statewide in May, up 4.2 percent from 3,793 recorded in May 2005, but it's a different story in some larger cities.

Sales in Des Moines, the state capital, actually dipped 0.9 percent year-over-year in May to 1,043, down from 1,053 a year ago.  more...

Realtor center launches new version of server software

By Inman News, Thursday, July 6, 2006.

The Center for Realtor Technology of the National Association of Realtors this week announced the launch of an updated version of server software for the real estate industry.

The new version allows Realtors to receive property listing information from multiple sources and eliminates the need for multiple interface programs, according to the announcement.  more...

Mixed movement for overnight real estate rates

By Inman News, Thursday, July 6, 2006.

Long-term mortgage interest rates were varied Thursday, and the benchmark 10-year Treasury bond yield fell to 5.18 percent.

The 30-year fixed-rate average climbed to 6.41 percent, and the 15-year fixed-rate held at 6.1 percent. The 1-year adjustable jumped to 5.48 percent.

The 30-year Treasury bond yield decreased to 5.22 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...

Mine some gold through a real estate niche Premium Content

By Bernice Ross, Thursday, July 6, 2006.

Are you trying to be everything to everyone?  more...

Dos and don'ts of mixing architectural styles

By Arrol Gellner, Thursday, July 6, 2006.

Not long ago, in a pleasant, Sixties-era neighborhood of California ranchers, I came across a renovated house that looked all too familiar. The owner had replaced the original front doors, all the windows and the garage door in a style that could most kindly be described as Home Depot Eclectic.

To begin with, there was a huge, modernistic vinyl picture window.  more...

Replacing old windows trickier from indoors

By Paul Bianchina, Thursday, July 6, 2006.

Q: I need to replace some older aluminum windows. Can they only be removed from the outside? I have a two-story house, and I'm not comfortable on a ladder at that height. Also, two windows have brick siding over them. Is it possible to remove them from the inside? --Tom M.

A: Most types of aluminum windows have a flange on the outside. The window is slipped into the rough opening in the wall from the outside, and secured in place by nailing through the flange.  more...

Pros and cons of joint-tenancy home ownership

By Robert Bruss, Thursday, July 6, 2006.

"How would you like to take title to your new home, Mr. and Mrs.  more...