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ACH cutting jobs at Ameriquest, Argent Mortgage

By Matt Carter, Thursday, March 15, 2007.

Subprime lender ACC Capital Holdings, parent company of Ameriquest Mortgage Co. and Argent Mortgage Co, says it is closing operations centers in five states.  more...

Housing to be a multiyear economic drag

By Lou Barnes, Thursday, March 15, 2007.

The 10-year T-note has been unable to break 4.5 percent in a half-dozen tries over three weeks, the same stopping point as last fall, which in turn has mortgages stuck above 6 percent. Without weak economic data, soon, long-term rates will rise.

The data is OK -- lukewarm, but not falling apart. Retail sales were shaky in February, but the bad-weather excuse was legitimate. New claims for unemployment insurance have fallen below winter highs. The twin producer- and consumer-price indices are not improving as fast as the Fed would like, but were no cause for alarm.  more...

Freddie, Fannie say Congress trying to have it both ways Premium Content

By Matt Carter, Thursday, March 15, 2007.

Fannie Mae and Freddie Mac will be in a better position to help housing markets weather the current turmoil in subprime lending if Congress doesn't give regulators free rein to decide how much debt they can safely take on, executives with the companies told lawmakers Thursday.

The government-sponsored entities, which purchase mortgage loans from lenders and guarantee loans that sold to Wall Street investors on the secondary market, have been fighting tighter limits on their lending portfolios, which currently total $1.4 trillion.

In the wake of accounting and managements scand  more...

336-unit apartment deal in Charlotte

By Inman News, Thursday, March 15, 2007.

Holliday Fenoglio Fowler recently closed the sale of Glen Hollow, a 336-unit multifamily community in Charlotte, N.C., for a price of $11.5 million.

Juniper Investment Group sold the property to Advenir Real Estate Management.

Glen Hollow, which is located at 4933 Central Ave., was renovated in 2005 and has one-, two- and three-bedroom units averaging 901 square feet each. Community amenities at the 89 percent occupied property include a pool, clubhouse, business center, fitness center and playground.  more...

Phillips Edison adds Iowa retail

By Inman News, Thursday, March 15, 2007.

Phillips Edison & Co. recently purchased Quincy Plaza in Quincy, Iowa, for an undisclosed amount.

The retail property totals 137,696 square feet and was anchored by Kmart and 17 other tenants at the time of sale.

The seller's identity was not disclosed.

Phillips Edison & Co. is a retail real estate owner, manager and developer operating in 30 states.

New owner for Woodfield Corporate Center

By Inman News, Thursday, March 15, 2007.

Woodfield Corporate Center, a two-building, 100,000-square-foot office development in Charlotte, N.C., has sold for $11.3 million.

An Atlanta-based private investor sold the property to a private investor from New York.

The multitenant property is located at 8000 and 8008 Woodfield Center Drive.

Built in 1988, the center was 90 percent occupied at the time of sale.

Sound-off on subprime mess Premium Content

By Inman News, Thursday, March 15, 2007.

Editor's note: The following excerpts on the subprime lending mess and home financing are from this week's Inman News Blog. A lot of provocative opinions and dire predictions surround the events taking place in the subprime mortgage market. Join the discussions at the Inman News Blog by clicking on the discussion links under these posts.  more...

The lost renter

By Alison Rogers, Thursday, March 15, 2007.

I have been working my butt off. I'm not sure why I feel compelled to share that with you, right now: perhaps it's a warning to my editor that she'd better wield the pencil more deftly than usual. Or maybe it's because I don't have great results to boast about right now, so I feel like I'd better talk about process.

It has been nine months since my first deal. I went back and read the columns from that period (there is some advantage to being an online diarist, you can check up on yourself) and I am doing better now in almost every way.  more...

Attract more real estate clients Premium Content

By Bernice Ross, Thursday, March 15, 2007.

There's lots of buzz about attraction today. If you want to know more about how to put this principle to work in your business, today's article will show you how.  more...

Overnight real estate rates inch up

By Inman News, Thursday, March 15, 2007.

Long-term mortgage interest rates were higher Thursday, and the benchmark 10-year Treasury bond yield held at 4.54 percent.

The 30-year fixed-rate average rose to 5.68 percent, and the 15-year fixed rate was up at 5.43 percent. The 1-year adjustable gained to 5.28 percent.

The 30-year Treasury bond yield was down at 4.69 percent.

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

Canadian antitrust officials meet with U.S. real estate brokers Premium Content

By Glenn Roberts Jr., Thursday, March 15, 2007.

Officers for a government agency in Canada are talking and meeting with limited-service brokers in the United States to gauge the potential effects of real estate restrictions in Canada.

The Canadian Competition Bureau, that nation's equivalent of the U.S. Justice Department's Antitrust Division and Federal Trade Commission, has contacted several members of the American Real Estate Broker Alliance, a group of flat-fee real estate brokers that formed last year.  more...

The perfect garage makeover

By Paul Bianchina, Thursday, March 15, 2007.

When you think about glamorous, exciting remodeling projects, the garage is probably not the first space in your home that leaps to mind. But garage remodeling has become the new frontier for homeowners looking to organize and reclaim space in their homes, and to do it with flair. Depending on your tastes, time and budget, it's not difficult to create a garage space that's not only the envy of the neighborhood, but probably the envy of many NASCAR shops as well.  more...

New technologies, better home finishes

By Arrol Gellner, Thursday, March 15, 2007.

Which do you prefer, shiny finishes or matte ones? New-looking finishes or old? Granite, glass and chrome, or brick, wood and iron?

All of these have gone in and out of fashion over the years. We tend to think that any finish that's popular in our own time is the ultimate word in good taste, but we couldn't be more wrong. No matter how outdated a finish may seem today, you can be sure that it, too, was the height of good taste in its own time, and that sooner or later it'll be chic all over again. So, you haters of Harvest Gold appliances -- beware.  more...

Find best agent to sell your home

By Robert Bruss, Thursday, March 15, 2007.

Spring is the best time of year to sell your house or condo if you want to receive top dollar. The reason is March, April, May and June are the months when the largest number of prospective home buyers are in the market.

If you want to take advantage of the 2007 peak home sales season, now is the time to get ready. Presuming your residence is cleaned, repaired and painted in preparation for selling it, the next vital step is to interview at least three successful realty agents who sell homes like yours in your vicinity.  more...

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2007

No cameras, please

By Glenn Roberts, Jr., Thursday, March 15, 2007.
Properazzi.com -- a European property search engine, launched in beta in November, with for-sale and rental listings from many countries that are somewhat integrated with Google Maps (clicking on the map will provide a list of properties in the general...  more...