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Investors sold on commercial real estate Premium Content

By Inman News, Thursday, May 17, 2007.

Respectable job growth, improving fundamentals, favorable interest rates and limited speculative construction suggest strong investor appetite will continue in 2007, according to a commercial market update and forecast presented Thursday at the National Association of Realtors Midyear Legislative Meetings & Trade Expo in Washington, D.C.  more...

Florida warehouse buyer eyes condo conversion

By Inman News, Thursday, May 17, 2007.

Brokerage firm Marcus & Millichap recently negotiated the sale of a 93,740-square-foot industrial warehouse in Doral, Fla., for a price of more than $12.7 million.

The unidentified buyer has "an excellent condo conversion opportunity," according to Greg Zeifman, an investment specialist in Marcus & Millichap's Miami office, as 10 of the 14 current leases are expiring in 2007.  more...

Office buildings bought in northern Delaware

By Inman News, Thursday, May 17, 2007.

BPG Properties Ltd. recently bought two office buildings totaling 142,695 square feet in Newark, Del., for approximately $14 million.

Northtowne Inc. sold the property, 242 and 248 Chapman Road, at 77 percent occupancy.

The 242 building is a three-story, 65,697-square-foot facility, while 248 Chapman is a two-story, 76,728-square-foot building, where approximately 35,000 square feet of space was available for lease at the time of sale.  more...

Realtor.com rolls out free blogs for Realtors Premium Content

By Glenn Roberts Jr., Thursday, May 17, 2007.

WASHINGTON, D.C. -- Realtor.com President Errol Samuelson today announced the availability of free blog sites for all Realtors and also announced several new and planned features for the popular property-search Web site, which is operated by Move Inc.  more...

Bernanke wrong about subprime

By Lou Barnes, Thursday, May 17, 2007.

Rates are up, decisively: mortgages are 6.375 percent, taken by the 10-year T-note blowout from five weeks in the four-sixties to 4.77 percent, very much at risk for further increases.

The end of the standoff between the recession-coming and all-OK camps was a three-act play, beginning with an exchange between former Fed Chair Alan Greenspan and Bill Gross, PIMCO's bond impresario.  more...

New Jersey bank closes subprime unit

By Inman News, Thursday, May 17, 2007.

A federally chartered bank in New Jersey closed its subprime lending subsidiary in March and fired employees who concealed "an onslaught of early payment default claims" in 2006 from its parent company, executives said.

In a presentation to shareholders Thursday, executives at OceanFirst Financial Corp. said the bank made subprime loans through a subsidiary, Columbia Home Loans LLC, based in Westchester County, N.Y.  more...

Loan officer caught after botching fraud scheme

By Inman News, Thursday, May 17, 2007.

A Eugene, Ore., mortgage loan officer faces up to 20 years in prison after pleading guilty to falsely reporting three clients as employees at his girlfriend's used-clothing store in order to qualify them for loans.  more...

Cyberhomes, Zillow seek for-sale data from brokers

By Glenn Roberts Jr., Thursday, May 17, 2007.

Cyberhomes.com, an automated home-valuation site operated by Fidelity National Real Estate Solutions, is now open to for-sale property listings information, Fidelity officials announced Thursday.

The field of property-search Web sites has grown rapidly in the past few years, with newcomer sites such as Cyberhomes, Google Base, H  more...

The Hail Mary

By Alison Rogers, Thursday, May 17, 2007.

I have spent two days running around with a relocating renter and I am tired. Relos are hard, because in the quest to find them the neighborhood that "fits" you end up showing them every single possible area -- usually on foot. We saw the Financial District, we saw Battery Park City, we saw Union Square and Chelsea and Midtown. We saw Greenwich Village, twice, and I waved at Chinatown because there's nothing good there now, but it's where my last renter ended up.  more...

Redfin fined $50,000 over home-review sites

By Jessica Swesey, Thursday, May 17, 2007.

Seattle-based online discount brokerage company Redfin, under pressure from the multiple listing service, has pulled the plug on its Web logs offering reviews of properties for sale.  more...

H&R Block to trim Option One workforce before sale

By Inman News, Thursday, May 17, 2007.

H&R Block Inc. will eliminate 615 jobs at its subprime lending subsidiary Option One Mortgage Corp. as part of a cost-cutting restructuring plan that's expected to cost $19 million up front, according to a report the company filed Thursday with the Securities and Exchange Commission.

H&R Block Inc.  more...

Uptrend hits overnight real estate rates

By Inman News, Thursday, May 17, 2007.

Long-term mortgage interest rates were up for the fifth consecutive night on Thursday, and the benchmark 10-year Treasury bond yield rose to 4.75 percent.

The 30-year fixed-rate average edged up to 5.84 percent, and the 15-year fixed rate gained to 5.55 percent. The 1-year adjustable held at 5.66 percent.

The 30-year Treasury bond yield climbed to 4.91 percent.

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

What's next for real estate?

By Inman News, Thursday, May 17, 2007.

It's almost midyear and time to reassess what's next for the real estate industry. Inman News Publisher Bradley Inman makes some predictions for what's to come in online real estate and market conditions.

Body language reveals home buyer's true intent Premium Content

By Bernice Ross, Thursday, May 17, 2007.

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

Don't overlook durability when house shopping

By Katherine Salant, Thursday, May 17, 2007.

When we talk about the new house, we're always focused on the look.

Nobody talks about the lasting look or what it takes to get one. What's required to ensure that your new house will look as good in 30 years when your mortgage is paid off as it did on the day you moved in?  more...

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