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Rates rise even as economy looks 'wobbly'

By Lou Barnes, Thursday, April 5, 2007.

Rates are rising again this morning -- possibly an overreaction in thin holiday markets to strong job-market news, but rising.

The 10-year T-note is 4.75 percent versus 4.66 percent yesterday and 4.5 percent four weeks ago; that upward drive has taken mortgages from just above 6 percent to 6.25 percent yesterday and almost 6.375 percent today.  more...

Proponents of 'Open MLS' proceed with petition drive Premium Content

By Glenn Roberts Jr., Thursday, April 5, 2007.

Proponents of a statewide public multiple listing service in Maine are working to qualify a ballot initiative for an election in 2008, and the state Realtor trade group is prepared to fight if the signature drive is successful.

The Maine Association of Realtors operates a statewide MLS, the Maine Real Estate Information System Inc., as a subsidiary.  more...

California mortgage broker gets 9 years in plea bargain

By Inman News, Thursday, April 5, 2007.

A mortgage broker from California's Central Valley has been sentenced to nine years in prison after pleading guilty to 122 counts of fraud and money laundering.

Tony J. Daniloo, 32, victimized homeowners seeking cash-out refinance loans, altering escrow documents and diverting cash into his personal bank accounts, prosecutors said. His victims included his parents, his in-laws, and friends and neighbors, the Modesto Bee reported.  more...

Lawsuit claims New Century mishandled escrow, loan payments

By Inman News, Thursday, April 5, 2007.

The latest lawsuit against troubled subprime lender New Century Financial Corp. alleges the company failed to deposit loan payments it was collecting on behalf of an investor that had purchased loans into the appropriate account.

The lawsuit by UBS Real Estate Securities Inc. alleges New Century misappropriated $3.8 million in mortgage payments that were supposed to be placed in a third-party account during a period the loans were subject to a repurchase agreement.  more...

The big chair

By Alison Rogers, Thursday, April 5, 2007.

I have been a part-time agent for nearly a year now, but I still write a lot. For one thing, it provides a dribble of steady income; for another, it's in my blood. I had been a reporter for nearly two decades when I started showing houses, and I still have an ingrained tendency to ask questions like a reporter. And I love writing; sometimes when I don't know what I think about something or how I feel about it, I'll start writing and the answer will simply come out. Maybe a musician experiences the same sense of peace sitting down at the piano, I don't know.  more...

Overnight real estate rates take a breather

By Inman News, Thursday, April 5, 2007.

Long-term mortgage interest rates were mostly flat again Thursday, and the benchmark 10-year Treasury bond yield rose to 4.68 percent.

The 30-year fixed-rate average sank to 5.74 percent, and the 15-year fixed rate remained at 5.46 percent. The 1-year adjustable held at 5.33 percent.

The 30-year Treasury bond yield increased to 4.87 percent.

Rates 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...

The lead-generation shootout Premium Content

By Bernice Ross, Thursday, April 5, 2007.

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

Real estate is being transformed by changes so profound that it may rip the industry apart. If you're still hanging on to 20th century prospecting and by referral techniques as the only tools in your lead-generation toolbox, the coming changes may wash you out of the business if you are unwilling to adapt.  more...

Cost per square foot: a flawed way to measure value

By Katherine Salant, Thursday, April 5, 2007.

When most of us look at a production home builder's furnished model, we ooh and ah about the floor plan (it feels so big and open); the floor finishes (this Brazilian cherry looks almost edible); the beautiful kitchen countertops (my friends will be jealous); room sizes (this bathroom is big enough for 20 of my best friends); and a host of other details.

But in the end, it all comes down to price. We want the most space for the least amount of money because, after all, we're a nation of bargain hunters. We don't determine value on price alone, however.  more...

Install new toilet like a pro

By Paul Bianchina, Thursday, April 5, 2007.

Changing a toilet isn't always at the top of the list for glamorous remodeling projects. Thankfully, it's not a particularly difficult undertaking, so if your home is due for a new or upgraded toilet, here are some tips on how to get it done successfully.

REMOVING THE OLD ONE

The first step is to get the old toilet out of the way. Begin by shutting off the water supply to the toilet, which is typically a small valve coming out of the wall or floor below the toilet's tank.  more...

Make your condo purchase a smart one

By Robert Bruss, Thursday, April 5, 2007.

Spring is the busiest season for condominium sales. There are many reasons for buying a condo instead of a house. They make great affordable first homes. They also make great "last homes" if you are downsizing from a large family house to a smaller residence.

Although condos are no longer the "ugly ducklings" of housing since they now often appreciate in market value about the same as comparable single-family detached houses, there are special questions condo buyers should ask to avoid buying a "bad condo." Buying a condo can be more complicated than buying a house.  more...

Nickelodeon division to stay in Burbank

By Inman News, Thursday, April 5, 2007.

Viacom International has renewed the lease of its Nickelodeon animation headquarters in Burbank, Calif., for five years in a deal valued at more than $12 million, a report this week stated.

At approximately 72,232 square feet, the headquarters facility is housed in two low-rise buildings at 231 N. Olive Ave., on a 2.35-acre campus.  more...

Parkway 400 purchased

By Inman News, Thursday, April 5, 2007.

Tenant-in-common investors recently purchased a multibuilding office complex in Alpharetta, Ga., for an undisclosed amount.

Transwestern SF Partners I LP sold the asset, Parkway 400, which comprises more than 193,000 square feet of class A space. The property's two buildings, a two-story and a six-story, face a common landscaped courtyard featuring a central green space and walking paths.

At the time of sale, the property was 95 percent occupied. Major tenants at closing included Inovis, Charter Communications and Fidelity National Information Services Inc.

Jewelry mart snagged for $144M

By Inman News, Thursday, April 5, 2007.

In one of the biggest commercial real estate transactions to close in Los Angeles this year, New York-based The Moinian Group has acquired the International Jewelry Center for $144 million.

The Hertz Investment Group sold the property, which is located at 550 S. Hill St. in downtown L.A.

At the time of sale, the 370,000-square-foot, 16-story building was fully occupied and houses around 370 jewelry business tenants. It was built specifically for jewelry-related businesses.

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Google's gig in real estate quietly moving ahead

By Jessica Swesey, Thursday, April 5, 2007.
A post on Google's Blog today discussing features the search giant is incorporating into real estate searches hints that the search company may be planning more. (Also, remember the big deals it signed with Realogy a month ago?) The title,...  more...

Opening up to foreclosures

By Glenn Roberts, Jr., Thursday, April 5, 2007.
Yahoo Real Estate has rolled out an upgraded Foreclosure Center that incorporates tools and analytics by foreclosure data provider RealtyTrac. "The new Yahoo Real Estate Foreclosure Center launches in the midst of a slowing real estate market in which foreclosures...  more...
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