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Date

Dec

20
2007

Subprime origination migrates to the net

By Matt Carter, Thursday, December 20, 2007.
Six percent of subprime loans were originated directly over the internet in the first half of 2007, according to a new survey of subprime lenders by the Mortgage Bankers Association. If that doesn't sound terribly impressive, consider that's a 50...  more...

New vs. Resale

By Glenn Roberts, Jr., Thursday, December 20, 2007.
Ara K. Hovnanian, president and CEO for homebuilder Hovnanian Enterprises, said this week that new homes have traditionally been priced higher than equivalent resale homes, though builders in slow-moving markets have ramped up incentives and dropped home prices to jump-start...  more...

Discussing the Merits of Real Estate Video

By Joel Burslem, Thursday, December 20, 2007.
Bloggers Connect is all about helping real estate professionals take advantage of much of the new media available to them online these days. This time around we're taking another step forward and diving into the emerging world of video and...  more...

$75M condo portfolio changes hands

By Inman News, Thursday, December 20, 2007.

A Las Vegas-area condominium portfolio has sold to an unidentified buyer for a total price of $75.4 million.

The portfolio, sold by Crossing Apartments Las Vegas LLC, includes two properties: The Crossing at Green Valley Condominiums (located at 2312 Green Valley Parkway) and the Martinique Bay Condominiums (located at 3000 High View Drive); both are located in the city of Henderson.

The properties are located in the master-planned community of Green, approximately 10 minutes southeast of the famous Las Vegas Strip.  more...

Oregon's Woodside center sold

By Inman News, Thursday, December 20, 2007.

Tenant-in-common investors recently purchased a five-building, class A office complex in a Portland, Ore., suburb for an undisclosed price.

The property, Woodside, is located within a master-planned office park in the city of Beaverton.

Built between 1987 and 2000, the 194,000-square-foot property was 90 percent leased to numerous tenants at the time of sale, including the State of Oregon's Department of Human Services, Bright Horizons Family Solutions, Northwest Regional Education School District and Kleinfelder Group Inc.  more...

DHL leases distribution space

By Inman News, Thursday, December 20, 2007.

AMB Property Corp. this week announced it has leased 491,000 square feet of distribution space in Auburn, Wash., to DHL Exel Supply Chain (DESC).

The value of the transaction was not disclosed.  more...

Economic indicator drops sharply in November

By Inman News, Thursday, December 20, 2007.

The U.S. leading index, which is intended to gauge future economic activity, dove 0.4 percent in November following a 0.5 percent drop in October, the Conference Board reported today. The index score of 136.3 in November was the lowest since mid-2005.

This index has fallen in four of the past six months, and seven of the 10 indicators that make up the index fell in November.  more...

Freddie Mac: Long-term mortgage rates up this week

By Inman News, Thursday, December 20, 2007.

The interest rates for 15- and 30-year fixed-rate mortgages rose in the week ending Dec. 20, according to a weekly survey by Freddie Mac.

The Primary Mortgage Market Survey revealed that the rate for a 30-year fixed-rate mortgage averaged 6.14 percent with an average 0.4 point for the week, up from an average 6.11 percent in the previous week. The average rate is up from 6.13 percent for the same week last year.  more...

Overnight real estate rates down again

By Inman News, Thursday, December 20, 2007.

Long-term mortgage interest rates continued to fall Wednesday, and the benchmark 10-year Treasury bond yield dropped to 4.03 percent.

The 30-year fixed-rate average sank to 5.8 percent, and the 15-year fixed rate dipped to 5.36 percent. The 1-year adjustable rate was down at 5.51 percent.

The 30-year Treasury bond yield edged down to 4.45 percent.

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

Parents have good reason not to cosign lease

By Janet Portman, Thursday, December 20, 2007.

Q: I'm in college and trying to rent an apartment with two other students. The landlord wants someone to cosign the lease, but my parents are hesitant. They're afraid they'll end up paying for my roommates' mistakes. How can I convince them to help us out? --Larry R.

A: Your parents are justifiably concerned, because they won't be agreeing to cover only your mistakes. As cosigners, they're giving the landlord the right to look to them if, for example, one of your roommates damages the apartment and the security deposit can't entirely cover the cost of repairs.  more...

Landlord: Replacing dead pet violates lease

By Robert Griswold, Thursday, December 20, 2007.

Question: Is it legally binding to state in a lease that an existing pet is agreed to but that no more are permitted and when the said pet dies it can't be replaced? I am buying a duplex and one tenant has two cats and a bird. I have seen what damage cats can do when they decide to stop using the litter box. I want this building to be a "no-pets" property. I would not be so cruel as to tell her to get rid of her cats, and as for now, the apartment is clean and smell-free.  more...