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MLSs launch consolidated listings database

By Glenn Roberts Jr., Thursday, April 12, 2007.

Three MLSs in the San Francisco Bay Area on Thursday announced the launch of a consolidated property-search database for their members.

The unified database, called Quattro, supplies subscribers with property information covering 15 California counties -- the MLSs serve about 42,000 agents and brokers and the region has about 5.6 million residents. The effort to establish the shared database was launched last year.

The area is a hotbed for MLS data-sharing and regionalization efforts, as a separate group of MLSs in Northern California is proceeding with a consolidation plan.  more...

Conflicting data ties mortgage forecast in knots

By Lou Barnes, Thursday, April 12, 2007.

Mortgage rates are no worse this week than after last week's strong-payroll surprise, and the 10-year T-note is actually a hair lower. As suspected here, the payroll data made the economy look stronger than it really is.

When the economy is in transition, it is hell to sort through the conflicting data -- especially with the stock market guys yelling 24/7 that everything is wonderful. It is not: the Fed's meeting minutes concede that core inflation is "higher than expected" and that their cherished forecast for continuing downward trend is in question (page 7).  more...

Not playing nice

By Alison Rogers, Thursday, April 12, 2007.

One of the reasons I wanted to be a Realtor is that I'm fairly social, and I enjoy being around other people. The difficulty is that I'm not sure I like them.

Oh sure, other people are perfectly lovely to sit down and have a lunch with. But in a work context, they don't always do what I would do, which makes me nutso. In this, I am my mother's child – she was a southern judge famous for her way or the highway. (In nice polite southern terms, my momma didn't suffer fools gladly).  more...

Overnight real estate rates quiet

By Inman News, Thursday, April 12, 2007.

Long-term mortgage interest rates were mostly flat again Thursday, and the benchmark 10-year Treasury bond yield edged up to 4.74 percent.

The 30-year fixed-rate average held at 5.79 percent, and the 15-year fixed rate dipped to 5.54 percent. The 1-year adjustable was up at 5.39 percent.

The 30-year Treasury bond yield stayed at 4.91 percent.

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

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Blogs, social networks become one-stop shops Premium Content

By Bernice Ross, Thursday, April 12, 2007.

(This is Part 2 of a two-part series. Read Part 1.)

Will you be swept away by the coming riptides of change? Or will you successfully navigate the onslaught on your lead generation and emerge victorious?  more...

Homes and appliances supersized for a reason

By Arrol Gellner, Thursday, April 12, 2007.

America is a big country, and we think big. We've always been enormously proud of our very biggest things, whether they're works of nature such as the Grand Canyon or manmade ones like the Empire State Building. Bigness is a defining quality of our nation.  more...

Scratch-free hardwood floors possible

By Paul Bianchina, Thursday, April 12, 2007.

Q: I have older hardwood floors, and I want to remove scratches and lighten the color. I would also like to redo the paneling in my den. Do you have any ideas on how to do this? --Marsha H., via e-mail.  more...

Smart home buyers avoid dual agency

By Robert Bruss, Thursday, April 12, 2007.

If you are considering buying a house or condo during this peak home-buying season, an issue that has probably crossed your mind is, "Who represents me in this home purchase?"

When visiting a weekend open house, it pays to understand that the friendly agents you meet there represent the home sellers. Although they have duties of honesty and truthfulness to you, a prospective buyer, as listing agents their prime duty is to get the best price and terms for their sellers.  more...

SoCal shopping center changes hands

By Inman News, Thursday, April 12, 2007.

An 84,856-square-foot shopping center in Chula Vista, Calif., has sold in a deal valued at $23.4 million.

Naples Plaza, which was 97.5 percent occupied at the time of sale, is located at the northwest corner of Third Avenue and Naples Street in Chula Vista, across the street from the San Diego Country Club.

The center is anchored by El Tigre Market, which is scheduled to open in three weeks. El Tigre recently signed a sublease with Ralph's Grocery Co., which had previously occupied the space.  more...

Lee & Associates secures lease agreement

By Inman News, Thursday, April 12, 2007.

Lee & Associates secured a 10-year lease agreement for office space in Oxnard, Calif., the company announced Friday.

The lease agreement is valued at more than $2 million.

The lessee, Kidney Dialysis Center of Oxnard, agreed to occupy 7,830 square feet. The tenant was represented by MGR Services, Inc.

Less & Associates represented the landlord, Meridian Office Partners.

Lee & Associates is a large regional commercial real estate company.  more...

Joint venture plans shopping center in Pennsylvania

By Inman News, Thursday, April 12, 2007.

A joint venture commercial development project is underway for the construction of an approximate 700,000-square-foot shopping center on 108 acres in Pottsgrove, Pa., about 40 miles northwest of Philadelphia.

Cedar Shopping Centers today announced that it has entered into a joint venture agreement with a preferred equity participation by Cedar with Tristate Ventures, LP, a wholly-owned subsidiary of Fameco Real Estate, LP of Plymouth Meeting, Pa.  more...

Appraisal groups seek more independence in lending process

By Inman News, Thursday, April 12, 2007.

Four of the largest organizations for real estate appraisers are asking bank regulators to consider requirements stressing the need to enforce an independent appraisal process in mortgage lending.

"We can't stand by while those with a vested interest in a transaction try to use appraisers as a rubber stamp," stated Don Kelly, a spokesman for the Appraisal Institute.  more...

Countrywide boosts March totals while cutting pay-option loans

By Inman News, Thursday, April 12, 2007.

Countrywide Financial Corp. boosted loan production in March by 5 percent compared to last year, while drastically slashing fundings of risky pay-option loans.

Countrywide's total loan production of $43 billion for the month included $3.5 billion in pay-option loans, compared to $8.8 billion in March, 2006.  more...

Get the inside track on hot real estate marketing

By Inman News, Thursday, April 12, 2007.

The downturn in many real estate markets has forced real estate brokers and agents to recharge their marketing techniques.

Some agents are thinking outside the box, using blogs, social networks and intricate online marketing plans to get noticed.

In an age of stiff competition, successful real estate professionals are finding fresh and innovative ways to acquire new clients. What are their secrets?

We want to hear from you.  more...

Citigroup announces 1,300 layoffs as part of ABN AMRO merger

By Inman News, Thursday, April 12, 2007.

More than 1,300 ABN AMRO Mortgage Group employees in Michigan and Florida will lose their jobs by the end of the year as Citigroup integrates the company into its own mortgage subsidiary, CitiMortgage Inc.

Citigroup announced it was acquiring ABN AMRO Mortgage Group and its $224 billion mortgage servicing portfolio in January, and estimated the combined companies would be the fourth-largest mortgage loan servicer and third-largest originator.

Citigroup this week announced plans to cut 770 jobs in Michigan  more...

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