Home

Jan

23
2007

VC prediction: Zillow goes IPO

By Inman News, Tuesday, January 23, 2007.
VC prediction: Zillow goes IPO Commenting in a Seattle Post-Intelligencer article, a venture capitalist said she expects to see property-search and automated home valuation site Zillow go public this year. Lucinda Stewart of OVP Venture Partners in Kirkland, Wash., predicted...  more...

Piggyback loan or private mortgage

By Inman News, Tuesday, January 23, 2007.
Piggyback loan or private mortgage insurance? Buyers may be asking you this year whether they'd be better off with a piggyback loan or a single, non-conforming loan backed by private mortgage insurance. Since Congress has made payments on mortgage insurance...  more...

$335,000 for London home the

By Inman News, Tuesday, January 23, 2007.
$335,000 for London home the size of a closet A closet-size space in the exclusive Knightsbridge neighborhood may be only about the size of a ship's galley, said real-estate agent Andrew Scott, who's handling the sale. "But it's permanently anchored...  more...

Home inspector ignores fire hazard, avoids lawsuit

By Barry Stone, Tuesday, January 23, 2007.

Dear Barry,  more...

Paying mortgage doesn't guarantee tax break

By Robert Bruss, Tuesday, January 23, 2007.

DEAR BOB: For the last six years, I have lived in my mother's house to take care of her, as she is very senile. I have been making the mortgage payments and paying the property taxes. However, when I had my income taxes prepared last year, I was told I am not entitled to these deductions because my name is not on the title and my mother's name and Social Security number are on the mortgage. Is this true? --Michele M.  more...

Palm Vista Apartments sold

By Inman News, Tuesday, January 23, 2007.

Marcus & Millichap arranged the sale of the 136-unit Palm Vista Apartments in Ft. Myers, Fla., for an undisclosed amount.

Florida-based Brown Management Inc. sold the property to an unidentified buyer.

Located at 3726 Central Ave., Palm Vista Apartments consists of 12 two-story buildings and two one-story buildings. Built in 1974, the garden-style community has a gated pool area, barbecue and seating area. In addition, the seller invested more than $800,000 to make various capital improvements and upgrades to the property, according to a press statement.  more...

U.S. Industrial REIT II enters Zappos territory

By Inman News, Tuesday, January 23, 2007.

U.S. Industrial REIT II purchased an 832,000-square-foot industrial distribution building in Shepherdsville, Ky., for an undisclosed price.

Lauth Property Group sold the facility on Jan. 16, according to a press statement.

The building, located at 376 Zappos.com Blvd., was 75 percent leased to Zappos.com, an online retailer of shoes and handbags, at the time of sale.

U.S. Industrial REIT II operates under the umbrella of USAA, a San Antonio, Texas-based financial services company with more than $100 billion in assets.

Bascom buys 750 units near Seattle

By Inman News, Tuesday, January 23, 2007.

Bascom Northwest Ventures LLC recently purchased the 750-unit Club Palisades Apartments in Federal Way, Wash., according to an announcement.

The value of the transaction was approximately $82.2 million, or $109,567 per unit.  more...

Texas title insurers told to slash rates again

By Inman News, Tuesday, January 23, 2007.

Texas regulators have ordered title insurers to reduce their rates by 3.2 percent effective Feb. 1.

The order, signed by Texas Insurance Commissioner Mike Geeslin, will cut the cost of title insurance for a typical $100,000 home to $843, compared with $1,023 in 1998.  more...

San Francisco-area real estate sales fall 22% in Q4

By Inman News, Tuesday, January 23, 2007.

Real estate sales fell 22 percent in the San Francisco Bay Area in fourth-quarter 2006 compared to fourth-quarter 2005, according to a report by Prudential California Realty, while the median price increased 1 percent for all housing types.

For-sale inventory jumped 22 percent in the fourth quarter compared to the same quarter in 2005, the company reported.  more...

FDIC issues policy letter on predatory lending

By Inman News, Tuesday, January 23, 2007.

Federal bank regulators sent out a letter this week describing lending practices they consider to be predatory, warning that they expect lenders to "treat consumers fairly, adhere to all applicable legal requirements, and underwrite loan products appropriately."  more...

Mortgage Lenders Networks sends pink slips to 830 workers

By Inman News, Tuesday, January 23, 2007.

About 830 employees previously described as "furloughed" by troubled Mortgage Lenders Network USA Inc. are reportedly being laid off as the company continues to search for money to finance loans made by the company and resurrect its wholesale lending division.  more...

Arizona weighs criminalizing mortgage fraud

By Inman News, Tuesday, January 23, 2007.

Mortgage fraud would be a felony in Arizona punishable by up to 10 years in prison under the terms of legislation introduced by a state lawmaker.

Republican state Sen. Jay Tibshraeny of Chandler said the legislation was a response to a growing number of reports of fraudulent and deceptive sales tactics.

"Buyer beware of a deal that seems too good to be true.  more...

Coldwell Banker franchise system adds 31 affiliates in '06

By Inman News, Tuesday, January 23, 2007.

Coldwell Banker Real Estate Corp. announced today that the franchise system added 31 affiliates in 2006, and 92 affiliates opened 118 new offices through expansion or mergers and acquisitions.

Internationally, more than 100 Coldwell Banker offices opened in 2006, including the first offices in Japan.

In the United States, Coldwell Banker Real Estate Corp. expanded its presence 33 states. Twenty offices were added in California, and 13 new offices opened in Florida, the company reported.  more...

Austin real estate has best year ever

By Inman News, Tuesday, January 23, 2007.

The Austin, Texas, housing market's strong growth pushed sales and prices to record highs in both December and 2006, according to the latest report from the Austin Board of Realtors.

December sales of single-family homes hit a new high for the month at 1,996, up 3 percent from the same month in 2005, bringing total sales for the year to a record 26,958, up 10 percent from 2005.  more...

12next ›last »