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Big money paid for Oregon strip mall

By Inman News, Tuesday, April 24, 2007.

Marcus & Millichap arranged the sale of the 31,920-square-foot Hillsboro Promenade shopping center in Hillsboro, Ore., for $10.1 million.

Hillsboro Promenade LLC sold the asset to RE No One LLC.

Located at 7500-7570 SW Baseline Road, the property is a shadow-anchored neighborhood shopping center, including tenants such as Blockbuster, Wendy's, GNC, Sally Beauty Supply, Postal Annex, Great Clips and Godfather's Pizza. There are two one-story buildings and two ground-lease pads.  more...

Condo conversion eyed in N.Y.

By Inman News, Tuesday, April 24, 2007.

Diplomat Gardens L.P. recently sold a 108-unit apartment complex in Piermont, N.Y., for a price of $13.3 million.

The property, Diplomat Gardens, comprises 88,708 square feet in five buildings, and includes a 2,000-square-foot health club. The address is 60 Route 9W.

Marcus & Millichap negotiated the deal, which represented a price of $123,148 per unit. The buyer's identity was not disclosed.  more...

Local investor buys Tampa office space

By Inman News, Tuesday, April 24, 2007.

A 145,840-square-foot office complex in Tampa, Fla., has sold for $22.2 million.

Bradenton, Fla.-based Stow Gunn LLC sold the property, Premier Corporate Centre, to Tampa-based Altamonte Ashley LLC.

Situated on approximately 12.3 acres, Premier Corporate Centre is a class A office portfolio comprised of four buildings: Premier North Executive Center, Premier Corporate Centre I, Premier Corporate Centre II and Premier Corporate Centre III. All are located in suburban northwest Tampa.  more...

Subprime problems hurt LandAmerica profits

By Inman News, Tuesday, April 24, 2007.

First-quarter revenue was up but profits were down sharply at LandAmerica Financial Group Inc., mainly because of problems with a subprime lender that's a LandAmerica customer, the company reported Tuesday.  more...

Debt a growing factor in Freddie's prime loan delinquencies

By Matt Carter, Tuesday, April 24, 2007.

A growing percentage of troubled borrowers in Freddie Mac's prime loan portfolio said excessive debt was one of the primary reasons they had problems making mortgage payments in 2006.

Unemployment or loss of income was still the most often cited cause of delinquency among Freddie Mac borrowers in 2006, with 36.3 percent reporting such problems.  more...

Technology that changed one broker's biz

By Inman News, Tuesday, April 24, 2007.

Editor's note: Inman News will hold a contest each week asking readers to submit articles to the InmanWiki focused on a particular topic. The best entries will be featured the following week in Inman News.

Last week's winner was Missy Caulk, a broker with RE/MAX Platinum in Ann Arbor, Mich.  more...

New-home sales dive 24% in March

By Inman News, Tuesday, April 24, 2007.

The rate of new single-family home sales dropped about 23.5 percent in March compared to the same month last year, while the median price rose about 6.4 percent, the U.S. Census Bureau and Department of Housing and Urban Development reported today.

The seasonally adjusted annual rate of new single-family home sales was 858,000 in March. This rate is based on the projection of a monthly sales total over a 12-month period, adjusted to account for seasonal fluctuations in sales activity.  more...

Home loan apps rise 3.6%

By Inman News, Tuesday, April 24, 2007.

A sizeable drop in mortgage rates last week inspired an upturn in mortgage applications, the Mortgage Bankers Association reported today in its weekly survey.

The market composite index, a measure of home loan application volume, rose 3.6 percent, climbing to 653.3 on a seasonally adjusted basis from 630.6 one week earlier.  more...

Dip in overnight real estate rates

By Inman News, Tuesday, April 24, 2007.

Long-term mortgage interest rates were down Tuesday, and the benchmark 10-year Treasury bond yield fell to 4.62 percent.

The 30-year fixed-rate average sank to 5.76 percent, and the 15-year fixed rate dropped to 5.49 percent. The 1-year adjustable was down at 5.6 percent.

The 30-year Treasury bond yield decreased to 4.81 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...

Companies, agents break into real estate video Premium Content

By Matt Carter, Tuesday, April 24, 2007.

Editor's note: In an increasingly competitive marketplace, brokers and agents are trying new things to gain an edge. In this four-part series, Inman News offers a look at new tools available for Realtors, including online communication plug-ins, online video and single-property Web site marketing.  more...

Why second home's a better investment than stocks

By Tom Kelly, Tuesday, April 24, 2007.

Ted Jones never has tried to keep up with the Joneses. The senior vice president and chief economist for Stewart Title drags his own huge net to filter financial data and often offers opinions that are over the top compared to his housing brethren.

When it comes to second homes, he really heads back to basics and suggests potential buyers do the same.

"My definition of a second home is one that is purchased with no intention ever to sell it," Jones said. "If you sell it or even intend to sell it, it's an investment. Period.  more...

Worried about workers' comp

By Bill and Kevin Burnett, Tuesday, April 24, 2007.

Q: I am thinking of hiring a company to install a door in my home. I notice on the Contractors State Licensing Board Web site that this company is exempt from having workers' comp insurance because it has no employees. I assume this means that it will sub out the actual installation of my door.

My question is whether I will be liable if one of the workers gets hurt on my property. Who is legally responsible -- the company or me?  more...

Are you satisfied with your listing agent?

By Robert Bruss, Tuesday, April 24, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, May 7, 2006.  more...

Innkeepers battle IRS over dual-use tax break

By Robert Bruss, Tuesday, April 24, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, May 7, 2006.

Charles and Sandra Anderson bought the Eureka Street Bed and Breakfast Inn in Sutter Creek, Calif. They, and Sandra's parents, use part of the 5,664-square-foot house as their personal residence. Their bed-and-breakfast guests use the rest of the house.

On their income-tax returns, the Andersons calculated 4,818 square feet for business use, resulting in 85 percent business use and 15 percent personal use.  more...

Apr

24
2007

Again with the weather

By Matt Carter, Tuesday, April 24, 2007.
The National Realtors Association continues to emphasize weather as an important factor in declining home sales (see Inman News story). The first thing NAR had to say in today's press release about an 11.3 percent year-over-year decline in March home...  more...
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