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TIC deal completed in Houston

By Inman News, Wednesday, March 21, 2007.

Tenant-in-common investors recently purchased The Offices at Interwood building in Houston, Texas, for an undisclosed price.

The property is an 80,000-square-foot, two-story, class A office building located in the 440-acre, master-planned Interwood office park. Constructed in 2001, the property was 96 percent leased at the time of sale to Administaff Client Services and Exel Inc.

NNN 2003 Value Fund LLC sold the property.

SoCal project buyer plans redevelopment

By Inman News, Wednesday, March 21, 2007.

Guthrie Development Co. recently acquired a 157,736-square-foot business park in Paramount, Calif., for $20.6 million.

The five-building property, Guthrie Paramount Business Center, is located at 7825-7901 Somerset and 14905-15001 Paramount Blvd. The project includes industrial, office and retail components, and is situated on a 7.2-acre parcel.

At the time of sale, the property was 100 percent leased, but Guthrie plans to redevelop the project into 34 for-sale industrial units ranging in size from 1,280 square feet to 14,085 square feet.  more...

US Industrial REIT II gains 575,000 square feet

By Inman News, Wednesday, March 21, 2007.

US Industrial REIT II purchased a recently completed, 575,000-square-foot industrial-distribution building in Mt. Juliet, Tenn., for an undisclosed price.

The property, Rockdale Distribution Center II, is located at State Route 840 and Couchville Pike.

First Industrial Realty Trust Inc. sold the property, which at the time of sale was 100 percent leased to Amer Sports/Wilson Sporting Goods Co.

Illinois governor resurrecting anti-predatory-lending program Premium Content

By Matt Carter, Wednesday, March 21, 2007.

After suspending a controversial counseling program aimed at reducing predatory lending in some Chicago neighborhoods, Illinois Gov. Rod Blagojevich proposes revamping the program and expanding it to include the entire city and surrounding county.

The Illinois Predatory Lending Database Pilot Program, which took effect Sept. 1, required some residents living in 10 Chicago ZIP codes to obtain financial counseling before obtaining a home loan.

Critics said the program amounted to state-sponsored redlining, because it dampened housing sales in mostly minority neighborhoods.  more...

One-size Web site does not fit all Premium Content

By Glenn Roberts Jr., Wednesday, March 21, 2007.

SANTA CLARA, Calif. -- A one-size-fits-all approach to online information may not suit all Web users, said Peter Horan, CEO of media and advertising for Barry Diller's InterActiveCorp.

"People are shopping for authorities who look and sound like them.  more...

Dominion Enterprises acquires eNeighborhoods

By Inman News, Wednesday, March 21, 2007.

Dominion Enterprises, a large media company, has acquired eNeighborhoods in a deal that aims to expand Dominion's reach in the real estate industry and position the company as a leader in technology and marketing services.

Boca Raton, Fla.-based eNeighborhoods provides real estate data, technology and marketing products and services to the real estate industry. The 10-year-old company's products and services reach more than 400,000 agents, according to an announcement of the deal.  more...

Trulia, Zillow shown the door at Prudential Real Estate convention Premium Content

By Matt Carter, Wednesday, March 21, 2007.

To the dismay of some of the company's brokers, Prudential Real Estate apparently barred two of the biggest names in online real estate -- Trulia and Zillow -- from exhibiting at the company's annual convention in San Diego this week.

Both companies had booked booths at the show and flew executives to Southern California to rub elbows with Prudential brokers, only to be told at the last minute they were not welcome.  more...

Inflation impacts mortgage rates

By Inman News, Wednesday, March 21, 2007.

Mortgage rates posted growth this week on renewed inflation fears, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage rose to an average 6.16 percent from 6.14 percent last week, while the 15-year fixed-rate mortgage gained from 5.88 percent to 5.9 percent.  more...

Economic indicator drops 0.5%

By Inman News, Wednesday, March 21, 2007.

The U.S. economy continued to sputter along in February with no signs of any dramatic change, The Conference Board reported today.

The U.S.  more...

Real estate rates drop overnight

By Inman News, Wednesday, March 21, 2007.

Long-term mortgage interest rates were down Wednesday, and the benchmark 10-year Treasury bond yield sank to 4.54 percent.

The 30-year fixed-rate average fell to 5.67 percent, and the 15-year fixed rate slipped to 5.42 percent. The 1-year adjustable held at 5.32 percent.

The 30-year Treasury bond yield inched up to 4.72 percent.

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

Where's my missing 28 square feet?

By Robert Bruss, Wednesday, March 21, 2007.

DEAR BOB: In August 2004, I purchased a junior one-bedroom condo, advertised as "approximately 551 square feet." A week ago, I receive a list of recent sales in my building from the realty agent who sold my unit. It listed the condo like mine three floors above me, which sold at 523 square feet. That is 28 square feet smaller than I was lead to believe. If my math is correct, based on my purchase price I overpaid by $11,180 in square-foot value. Is "approximately" a common wording realty agents use to inflate the square footage and price?  more...

So you want to refinance?

By Robert Bruss, Wednesday, March 21, 2007.

For some unexplained reason, mortgage lenders who service your current mortgage often don't want to refinance it even if you have an excellent on-time payment record. Why don't lenders want to keep their current borrowers? Only twice have I refinanced with the same lender. But it's a smart idea to start with your present lender to see what refinance terms you are offered.  more...

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2007

You say goodbye I say hello

By Matt Carter, Wednesday, March 21, 2007.
After firing 60 employees in January -- 12 percent of the company's workforce -- HouseValues has more than a dozen openings to fill. The positions HouseValues has posted on Yahoo! HotJobs range from customer service rep in the Yakima, Wash....  more...

Mapping meets mobile

By Inman News, Wednesday, March 21, 2007.
SANTA CLARA, CALIF. -- Smart2go, bv Nokia, is a mapping and navigation application that can be downloaded for free at smart2go.com and allows people with GPS-equipped mobile devices to view their position on a map and search the area for...  more...

Fatdoor is (almost) open

By Inman News, Wednesday, March 21, 2007.
SANTA CLARA, CALIF. -- Fatdoor.com, a "stealth mode venture backed company in downtown Palo Alto," will roll out on April 15. The company has a booth at the Drilling Down on Local '07 conference, an annual event that features discussions...  more...