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Hines grows in D.C.

By Inman News, Sunday, May 20, 2007.

Hines boosted its Washington, D.C., office portfolio with the recent purchase of an eight-story, 306,663-square-foot office building in the city's central business district, where the company now owns or manages seven properties totaling more than 3 million square feet.

Prudential Real Estate Investors, on behalf of German institutional investors in U.S. Property Fund III, sold the property for an undisclosed price.

The building, located at 2100 M St. NW, was completed in 1969 and has undergone significant renovations over the past 10 years.  more...

JV sells Northridge Promenade

By Inman News, Sunday, May 20, 2007.

A joint venture has sold a 90,344-square-foot retail center in Northridge, Calif., for $22 million.

CIP Real Estate and an investment fund of Alex Brown Realty Inc. unloaded the property on Newport Beach-based Core Realty Holdings LLC.

The five-acre property underwent a "significant" transformation in 2002, according to a press statement, when it underwent a multimillion-dollar renovation and redevelopment. A new Guitar Center building was added, while upgrades took place on building facades, parking lots, and landscaping, along with new sidewalks and roofs.  more...

Texas retail deals top $29M

By Inman News, Sunday, May 20, 2007.

The Praedium Group LLC, Centennial Real Estate Corp. and Westmount Realty Capital LLC purchased four former Albertsons locations and the Spring Creek Crossing Shopping Center for a total price of $29.5 million.

The former Albertsons locations, which total 238,247 square feet, are located in Plano, Frisco, Mesquite and Mansfield, Texas. All four locations were vacant at the time of purchase, providing a significant lease-up opportunity.  more...

Realtors still upset after '60 Minutes' of fame Premium Content

By Glenn Roberts Jr., Sunday, May 20, 2007.

WASHINGTON, D.C. -- Some viewers will believe that the characterization of real estate industry practices and pricing in a "60 Minutes" segment that aired earlier this month is accurate -- and there are still people who claim the Earth is flat, said Pat V.  more...

Real estate tech panel: Consumers want 'cool stuff'

By Glenn Roberts Jr., Sunday, May 20, 2007.

WASHINGTON, D.C. -- The Houston Association of Realtors plays an active role in marketing members' property listings. The association sends property information from its multiple listing service into an association-operated public Web site that also features a home-valuation tool and agent profiles.

The association aggressively advertises the search site on billboards, though it took more than property listings and advertising to build a strong online presence, explained Bob Hale, president and CEO for the Realtor association.  more...

One-stop safeguard against mortgage fraud debuts

By Inman News, Sunday, May 20, 2007.

Rapid Reporting Verification Co. and Magellan Lender Services LLC will partner to provide lenders with a one-stop identity and collateral verification service to combat mortgage fraud.  more...

Coldwell Banker buys Canadian franchisor

By Inman News, Sunday, May 20, 2007.

Coldwell Banker Real Estate Corp. has acquired one of its North American master franchisors, Coldwell Banker Canada, in a move that expands the company's network in Canada and aims to help affiliated Canadian brokers work cross-border business leads and opportunities.

Terms of the agreement were not disclosed, according to the recent announcement.

Coldwell Banker Canada was founded in 1993 and previously held the right to franchise the Coldwell Banker brand in Canada.  more...

Overnight real estate rates keep climbing

By Inman News, Sunday, May 20, 2007.

Long-term mortgage interest rates were up for the sixth consecutive day on Friday, and the benchmark 10-year Treasury bond yield rose to 4.81 percent.

The 30-year fixed-rate average edged up to 5.87 percent, and the 15-year fixed rate gained to 5.57 percent. The 1-year adjustable increased to 5.67 percent.

The 30-year Treasury bond yield climbed to 4.96 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...

House amends GSE reform bill to allow larger loan portfolios Premium Content

By Matt Carter, Sunday, May 20, 2007.

A long-debated bill intended to overhaul oversight of Fannie Mae and Freddie Mac could become bogged down again in Congress this year because of an amendment that sets aside a compromise with the Bush administration over how much authority the government will have to set limits on the mortgage repurchasers' loan portfolios.

The bill, HR 1427, is inten  more...

What really caused the subprime defaults?

By Jack Guttentag, Sunday, May 20, 2007.

(This is Part 1 of a five-part series. See Part 2, Part 3 Part 4 and Part 5.)

Extensive payment problems among subprime mortgage borrowers, along with the failure of a number of subprime lenders, have been major news topics in recent months.  more...

Best way to buy home that needs repairs

By Dian Hymer, Sunday, May 20, 2007.

Recently buyers who were in contract to purchase a home in Oakland, Calif., asked the seller to credit them money in escrow. The money was to be applied toward repairs that were recommended in the course of the buyers' inspections.  more...

Newlyweds attempt unique real estate tax strategy

By Robert Bruss, Sunday, May 20, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, March 19, 2006.  more...