Home

Arizona asks Zillow to cease real estate Zestimates Premium Content

By Glenn Roberts Jr., Sunday, April 15, 2007.

The Arizona Board of Appraisal has issued two cease-and-desist letters to online home valuation and marketing company Zillow charging that the company's automated estimates for properties in that state are appraisals and require a license, though the company has not complied with the notices and counters that it does not offer appraisals.

Lawyers f  more...

No audience: Blogging's big enemy

By Inman News, Sunday, April 15, 2007.

Editor's note: The following excerpt is from the Inman News Blog, where readers can participate in debates about industry issues, new technologies, blogging and tons more.  more...

JV downsizes in Silicon Valley

By Inman News, Sunday, April 15, 2007.

A joint venture between New York-based The Praedium Group LLC and California-based South Bay Development Co. recently sold the Coronado/Stender Business Park in Santa Clara, Calif., for $34.5 million.

Southern California-based Adler Realty Investments Inc. purchased the 227,600-square-foot property, which includes seven buildings on approximately 15.8 acres.  more...

Retail center sold in Leesburg

By Inman News, Sunday, April 15, 2007.

A 61,839-square-foot neighborhood retail center in Leesburg, Va., has sold for $22.2 million.

The property, known as Bellewood Commons, is located at 525 E. Market St. Built in 1988, the five-building property is situated on 5.33 acres and was 97 percent leased at the time of sale.

Bethesda, Md.-based Minshall-Stewart Properties sold the asset to Charlottesville, Va.-based Neuman-Bellewood LLC.

Tishman Speyer makes comeback in Miami

By Inman News, Sunday, April 15, 2007.

Tishman Speyer recently acquired Courvoisier Centre, a 335,000-square-foot, mixed-use office property in Miami, Fla., for an undisclosed price. The acquisition marks the company's first property in Miami in more than two decades.

Florida Office Property Co. sold the two-building, class A property located on Brickell Key in a transaction that closed Tuesday.  more...

House Finance Committee holding hearings on mortgage lending

By Inman News, Sunday, April 15, 2007.

This week will be a busy one for lawmakers on Capitol Hill, who plan two hearings that could shape the federal government's response to rising delinquencies and foreclosures among subprime mortgage borrowers.  more...

Overnight real estate rates edge up

By Inman News, Sunday, April 15, 2007.

Long-term mortgage interest rates inched up slightly Friday, and the benchmark 10-year Treasury bond yield edged up to 4.76 percent.

The 30-year fixed-rate average inched up to 5.8 percent, and the 15-year fixed rate held at 5.54 percent. The 1-year adjustable was up at 5.41 percent.

The 30-year Treasury bond yield edged up to 4.93 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...

Realtor ranks expected to shrink this year Premium Content

By Glenn Roberts Jr., Sunday, April 15, 2007.

This year, membership in the National Association of Realtors is expected to drop after nine consecutive years of growth.

And good riddance, say some real estate professionals -- fewer agents may be better for the industry as a whole.

The trade group's membership grew 89.6 percent during the latest spurt, from 716,078 members in 1997 to 1.36 million Realtors in 2006. But real estate is a cyclical business, and the housing market is slumping.  more...

Overcharges run rampant in home loans

By Jack Guttentag, Sunday, April 15, 2007.

(This is part 5 of a six-part series.  more...

How to sell a 'difficult house'

By Robert Bruss, Sunday, April 15, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, March 12, 2006.

DEAR BOB: We own a home in a popular vacation area, but it is only a two-bedroom, one-bathroom house. However, it is in a very good location and is in tip-top condition. Last August we signed a 90-day listing with a superb realty agent. She warned us the average sales time in the market was about 150 days. We only received one "low-ball" purchase offer. The house has been off the market since our listing expired.  more...

Fix it, don't gimmick it

By Dian Hymer, Sunday, April 15, 2007.

Some sellers get sidetracked in their effort to attract buyers, especially in a market that no longer decidedly favors sellers. For instance, some sellers think the best way to attract buyers to their home is to offer an incentive to the buyer's real estate agent, such as a trip somewhere at closing. Although, an agent perk might result in a showing or two, it's unlikely to affect a buyer's decision to buy.

It would make more sense to provide an incentive to buyers. That is, if incentives work.  more...