Home

Nov

27
2007

It's a long way down

By Glenn Roberts, Jr., Tuesday, November 27, 2007.
The unprecedented rapid run-up in U.S. home prices during the past decade has turned to a steep descent, and the wild ride has left the housing market in uncharted territory, economist Robert J. Shiller said in a presentation today. And...  more...

House hunting for the health conscious

By Jessica Swesey, Tuesday, November 27, 2007.
If you subscribe to Seth Godin's "Be Remarkable" school of marketing, you might find this interesting: A real estate brokerage company in Colorado has branded itself around the idea of using bicycles to tour homes for sale. Pedal To Properties,...  more...

After the harvest, a time to give thanks Premium Content

By Marc Davison, Tuesday, November 27, 2007.

A turkey with stuffing. Cranberry sauce. A vegetable casserole. Wine. Old friends. Family.

As social structures dissolve, as family members spread further and further away from each other, as our lives get more chaotic, we hunger for the simple traditions that act as an anchor point for our lives.

This past weekend, we all took time to savor a tradition that dates back to 1621 when Plymouth colonists and Wampanoag Indians shared an autumn harvest feast. This harvest meal has become a symbol of cooperation and interaction between two distinct cultures and people.  more...

Why cities shrink ... and grow Premium Content

By Tom Geller, Tuesday, November 27, 2007.

Editor's note: After decades of decline, many U.S. cities are showing signs of rebirth. This three-part series examines a little of what happened to pull people and development away from cities, what's attracting them back, how shrewd private investors are spotting trends, and what institutional investment and redevelopment projects have done to bring some cities back to life.  more...

Virginia industrial hits $118 per square foot

By Inman News, Tuesday, November 27, 2007.

BAM Properties recently paid $7 million for a single-tenant industrial building in Lorton, Va.

The 59,240-square-foot property, sold by Terminal Road Associates, is located at 8400 Terminal Road. Built in 1970, the asset features 21-foot clear heights.

At the time of sale, the property was fully leased to General Services Administration (GSA), which has occupied the space for 37 years.

Maryland's Woodberry Square acquired

By Inman News, Tuesday, November 27, 2007.

Woodberry Square Shopping Center, a 53,110-square-foot asset in Temple Hills, Md., recent sold to a limited liability company for approximately $11.1 million.

Bae's Woodberry LLC bought the 20-year-old property, located at the intersection of Allentown Road and Temple Hill Road, from Woodberry Square Center LLC

At the time of sale, the property was fully leased to retail, restaurant and service providers, including credit tenant Bank of America.

$18M office sale near San Francisco

By Inman News, Tuesday, November 27, 2007.

Westcore Properties LLC has acquired a 53,404-square-foot office building in Sunnyvale, Calif., for nearly $18.2 million.

Westcore TRT De Guigne LLC, the entity actually purchasing the building, bought it from De Guigne Ventures LLC.

Located on 2.9 acres at 455 De Guigne Drive, the building was fully leased at the time of purchase to Tandberg Television, a wholly owned subsidiary of Ericsson.

Mayors predict foreclosures will have dire impact on cities Premium Content

By Matt Carter, Tuesday, November 27, 2007.

Property values will decline by $1.2 trillion in 2008, denting consumer spending, property tax revenues, job creation and economic growth, according to an economic impact report released today by the U.S. Conference of Mayors.

Meeting in Detroit -- one of the cities hit hardest by foreclosures -- the group said that weaker market demand and large inventories of homes for sale would have reduced home values by $676 billion in 2008.  more...

Los Angeles, Napa top least affordable housing markets

By Inman News, Tuesday, November 27, 2007.

Housing affordability increased in the third quarter compared to the same quarter last year, the National Association of Home Builders reported today, though less than half of all new and existing homes sold during the third quarter were affordable to families earning the national median income.

Nine of the 10 least affordable metro areas tracked in the Housing Opportunity Index are in California, while four of the 10 most affordable metr  more...

Home prices drop at record rate in national index Premium Content

By Glenn Roberts Jr., Tuesday, November 27, 2007.

Economist Robert J. Shiller sees warning signs in a national home-price index that dropped at a record rate in the third quarter.

"We are in the aftermath of the biggest housing boom in history," said Shiller, a Yale University economics professor, in a presentation today. "We're out of the range of normal variation in data. I take that as very significant. I think there is a significant chance of recession -- of probably over 50 percent at this point.  more...

Conforming loan limit stays at $417,000

By Inman News, Tuesday, November 27, 2007.

The conforming loan limit for mortgages purchased by Fannie Mae and Freddie Mac will remain at $417,000 next year, while debate continues over whether it will be lowered in 2009 to reflect falling home prices.

The Office of Federal Housing Enterprise Oversight (OFHEO) determines the conforming loan limit according to the average home price as reported each November by the Federal Housing Finance Board (FHFB).

OFHEO today followed through on a previous promise to leav  more...

Consumer confidence worsens

By Inman News, Tuesday, November 27, 2007.

Consumer confidence dropped for the fourth straight month in November as Americans grew more pessimistic about business conditions, jobs and gas prices, The Conference Board reported today.

The Consumer Confidence Index, based on a representative sample of 5,000 U.S.  more...

Real estate rates fall overnight

By Inman News, Tuesday, November 27, 2007.

Long-term mortgage interest rates were down Monday, and the benchmark 10-year Treasury bond yield dropped to 3.83 percent.

The 30-year fixed-rate average sank to 5.82 percent, and the 15-year fixed rate fell to 5.4 percent. The 1-year adjustable held at 5.53 percent.

The 30-year Treasury bond yield was down at 4.29 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.  more...

Mortgage rates headed below 6%?

By Inman News, Tuesday, November 27, 2007.

Yields on 10-year Treasury notes dropped below 4 percent for the first time in two-and-a-half years Monday, as investors pulled money out of equities for the safe haven of bonds.

Yields on the 10-year Treasury note fell to 3.83 percent Monday, down from a recent high of 5.26 percent on June 12. The 10-year Treasury note is closely watched in the real estate industry because it tends to track with interest rates on 30-year fixed rate mortgages.  more...

Carnauba wax won't cure cabinet finish

By Paul Bianchina, Tuesday, November 27, 2007.

Q: We have a 2 1/2-year-old house with cherry cabinets. The cabinets were finished in place, and the lacquer finish is now showing a white ghosting effect. The cabinet maker said we could stop this from spreading by applying carnauba wax. However, a furniture refinisher said the cabinets were sealed incorrectly, and the only proper solution is to strip off the finish and redo them. The builder said the original painter can fix them, but the painter says it's my fault, and that he guarantees his work only for a year. Help! --Patty P.  more...

12next ›last »