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Mar

6
2007

Bloodlust, rivalry, greed ... and real estate

By Glenn Roberts, Jr., Tuesday, March 6, 2007.
"Kill House" is a dark-humor horror flick that features a serial killer who targets real estate agents. "As news of a brutally murdered San Francisco Realtor throws the Los Angeles real estate community into a tailspin, fear and panic spread...  more...

Video is the New Black in Real Estate Marketing

By Joel Burslem, Tuesday, March 6, 2007.
Seems that adding video to your web site is all the fashion these days. CNN calls this phenomena "the 'YouTubing' of real estate marketing" and says: Today, if your site doesn't offer virtual tours, mapping technology, neighborhood guides and a...  more...

Rolling the bones

By Bradley Inman, Tuesday, March 6, 2007.
Everyone, everything real estate has landed in Las Vegas along with conventions for HR directors, lawyers, hospitality owners. Two hundred conventions are in town. LV -- the anti-Green City -- is busting at the seams. Housing market story in Monday's...  more...

San Antonio deal tops $10 million

By Inman News, Tuesday, March 6, 2007.

EastGroup Properties Inc. acquired the four-building Fairgrounds Business Park in San Antonio, Texas, for a purchase price of approximately $10.6 million.

The buildings, which were constructed in 1985 and 1986, contain a total of 231,000 square feet and are located in the Alamo Downs Business Park. The multitenant properties were 80 percent leased to six customers at the time of purchase.

This purchase is EastGroup's fourth in San Antonio, according to company CEO David H. Hoster II.  more...

Office complex purchased in 1031 exchange

By Inman News, Tuesday, March 6, 2007.

CB Richard Ellis recently represented WR&E-Chester LLC in the sale of a two-building, 32,000-square-foot office complex in Chester, N.J.

The property, located at 2-4 Mill Ridge Road, sold for $11 million. It was built in 2006.

Devan Gardens LLC, a local private investor, purchased the property through a 1031 exchange.

The property is under a lease for more than 11 years to pharmaceutical company Adams Respiratory Therapeutics.

85,000 square feet changes hands in New Jersey

By Inman News, Tuesday, March 6, 2007.

The Kislak Co. Inc. recently negotiated the $23.9 million sale of 4800 Broadway and 4801 Broadway, a mixed-use complex of retail and office space in Union City, N.J.  more...

Bloggers: Blogging bears fruitful leads Premium Content

By Glenn Roberts Jr., Tuesday, March 6, 2007.

Blogging can be more than a communications tool and networking platform for real estate professionals -- it can convey personality, generate leads and boost business, say real estate bloggers.

"My whole business is blog clients. Most of my clients read the blog and then call me -- almost all of them," said Ardell DellaLoggia, a Seattle real estate agent who blogs at RainCityGuide.com and SearchingSeattle.com.  more...

Real estate remodeling stagnant in fourth quarter

By Inman News, Tuesday, March 6, 2007.

Real estate remodeling activity was steady in the fourth quarter of 2006, as the two indexes that make up the National Association of Home Builders' Remodeling Market Index (RMI) grew at a snail's pace.

The RMI measures remodeler perceptions of market demand for current and future residential remodeling projects, with any number over 50 indicating that the majority of remodelers view market conditions as improving.  more...

Pending Home Sales Index falls in January

By Inman News, Tuesday, March 6, 2007.

A national index that tracks pending home sales fell 8.9 percent in January compared to the same month last year and dropped 4.1 percent compared to December 2006, the National Association of Realtors trade group reported today.

The association blamed the drop on frigid weather. In December, the index got a boost from unusually mild weather.  more...

Overnight real estate rates head lower

By Inman News, Tuesday, March 6, 2007.

Long-term mortgage interest rates came down Monday, and the benchmark 10-year Treasury bond yield remained at 4.5 percent.

The 30-year fixed-rate average dipped to 5.69 percent, and the 15-year fixed rate was down at 5.43 percent. The 1-year adjustable held at 5.34 percent.

The 30-year Treasury bond yield was unchanged at 4.64 percent.

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

Danny and Nina move to Move Inc. Premium Content

By Glenn Roberts Jr., Tuesday, March 6, 2007.

Move Inc., the company that brought you Realtor.com, is now hosting the ongoing saga of a couple of 20-somethings -- Danny and Nina -- who moved to Denver, Colo., based on the votes of an Internet audience, among other blogs related to such topics as senior housing and home renovation projects.

It is part of a very coordinated effort by one of the most popular real estate search destinations on the Internet to connect with consumers in a new way.  more...

Can I sue my home inspector?

By Barry Stone, Tuesday, March 6, 2007.

Dear Barry,

I've read several of your columns where readers ask if they have grounds for suing a home inspector. Your answer always seems to be "no." Could it be that you're providing cover for fellow inspectors? --Jock

Dear Jock,  more...

'Out of touch' with foreclosures

By Robert Bruss, Tuesday, March 6, 2007.

Andrew J. McLean, author of "Making Money in Foreclosures, Second Edition," has written 17 real estate books over many years. He has been a real estate developer, appraiser, sales agent and property manager. Unfortunately, his latest book greatly disappoints because it is superficial, incomplete and unrealistic.  more...

Confused about tax-deferred exchange

By Robert Bruss, Tuesday, March 6, 2007.

DEAR BOB: I own a two-family rental duplex and a single-family rental house. I want to sell the duplex and pay off some of the mortgage balance on the rental house. Under Internal Revenue Code 1031, can I invest the proceeds of the rental duplex sale to pay down the mortgage on the rental house without owing capital gain tax? --Simon B.

DEAR SIMON: No. Sale of the rental duplex and using the sales proceeds to pay down the mortgage balance on your already-owned rental house will not qualify as a tax-deferred exchange.  more...