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Houston's Chartwell Court sells

By Inman News, Thursday, May 24, 2007.

The 243-unit Chartwell Court apartment complex in Houston, Texas, has sold to tenant-in-common investors for an undisclosed price.

The Lynd Co. sold the property at an approximately 91 percent occupancy.

Totaling nearly 254,000 square feet and situated on more than 14 acres, the class A property comprises 19 two-story residential buildings, a clubhouse/leasing office and a pool. Average unit size is 1,043 square feet, and private garages are attached to each unit.

Real estate's newest VC darlings

By Jessica Swesey, Thursday, May 24, 2007.

Real estate search site Trulia this week announced $10 million in funding led by Sequoia Capital. The news makes it clear that new online real estate darlings are plumping up with support and here for the long haul.

Trulia and Zillow have emerged as the two most recognized entrants in the last few years, though neither has announced profitability to date.  more...

Why interest rates are going up

By Lou Barnes, Thursday, May 24, 2007.

Two weeks ago, the 10-year T-note traded under 4.65 percent; yesterday it touched 4.9 percent. Mortgages -- as always, following the 10-year in lockstep -- were trying to break 6.25 percent going down; now they are trying to hold 6.5 percent while going up.

The case for holding is poor.

Rates are rising because the global economy is taking off. Forget all the thoughts of drag from concerted tightening by central banks, Europe to top out, America to slide near recession on weak housing and manufacturing, Asian exports to be undercut by American weakness.  more...

Senator urges tighter lending rules

By Inman News, Thursday, May 24, 2007.

Sen. Chris Dodd, the Connecticut Democrat who chairs the Senate Banking Committee, wants the Federal Reserve to use its rule-making authority to require that mortgage loan originators fully evaluate a borrower's ability to make loan payments, restrict the use of low- and no-doc loans, and establish escrow accounts to make tax and insurance payments.  more...

Deals close when buyers are in control Premium Content

By Bernice Ross, Thursday, May 24, 2007.

(This is Part 6 of a six-part series. Read Part 1, Part 2, Part 3, Part 4 and Part 5.)  more...

That '70s loft in Tribeca

By Alison Rogers, Thursday, May 24, 2007.

10013, as I pointed out to residents in my last direct-mail piece, is the most expensive ZIP code in New York City. The price per square foot, according to Miller Samuel appraisers: $1,346. It's Tribeca, and the neighborhood combines urban grit with some hipster charm (the iconic resident may be Christy Turlington, supermodel/yoga lifestyle guru/savvy business executive/mother of two); there are fashionable restaurants, and a decent, though shockingly overcrowded, public school.

So of course I want to get my newest clients down there.  more...

Home sales, prices fell in April

By Inman News, Thursday, May 24, 2007.

The rate at which existing homes sold in April fell by double digits from the same month last year, while the median home price declined slightly, the National Association of Realtors reported today.

Total sales of existing homes, including single-family, townhomes, condominiums and co-ops, fell to a seasonally adjusted annual rate of 5.99 million units in April, which is 10.7 percent lower than the 6.71 million-unit pace recorded a year ago.

Compared to the previous month, April's sales rate was 2.6 percent below March's 6.15 million-unit rate, NAR reported.  more...

Overnight real estate rates up further

By Inman News, Thursday, May 24, 2007.

Long-term mortgage interest rates were up again Thursday, and the benchmark 10-year Treasury bond yield dipped to 4.84 percent.

The 30-year fixed-rate average increased to 5.94 percent, and the 15-year fixed rate edged up to 5.65 percent. The 1-year adjustable stayed at 5.69 percent.

The 30-year Treasury bond yield sank to 4.99 percent.

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

HUD sues Property I.D., brokers over kickbacks Premium Content

By Matt Carter, Thursday, May 24, 2007.

A California company that produces natural hazard disclosure reports -- and the real estate brokers it shared profits with -- broke the law by creating sham companies to funnel illegal kickbacks, a lawsuit by federal regulators alleges.

The company, Property I.D., is accused of forming sham affiliated businesses with Realogy Corp., Coldwell Banker Residential Brokerage Corp., and two other brokers doing business as Prudential California Realty.

The lawsuit, filed by federal prosecutors in U.S.  more...

Inman TV on blogging

By Inman News, Thursday, May 24, 2007.

The real estate blogging wave is upon us.  more...

Why today's new homes are better than 30 years ago

By Arrol Gellner, Thursday, May 24, 2007.

I often hear people say of some old house, "Wow, they don't build 'em like this anymore." To which I'm often tempted to add, "And it's a good thing, too." There's a lot to be said for the aesthetic of older homes -- I've said a good deal of it myself -- but on the technical side, houses are far better built today than they were just 30 years ago, let alone 60 or 100 years.

For one, we know a lot more about protecting houses from all the bad things that can happen to them.  more...

Light bulbs hold key to energy savings

By Paul Bianchina, Thursday, May 24, 2007.

There's been a lot of interest in energy-efficient light bulbs lately, with an emphasis on swapping out older incandescent bulbs for newer fluorescent ones. Unlike the long fluorescent tubes we're all familiar with, these bulbs, known collectively as compact fluorescent light bulbs, or CFLs, resemble a standard light bulb. They are designed to screw directly into the same socket as a standard incandescent bulb, and are available in a variety of sizes to work with virtually any existing fixture you might have in your home.  more...

Seller tactics get top dollar for real estate

By Robert Bruss, Thursday, May 24, 2007.

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

Spring is traditionally the best time of year to sell your house or condominium. The reason is that March through June is the peak home sales season when the largest numbers of prospective buyers are in the market place.

Purchase Bob Bruss reports online.

HOW TO SELL YOUR HOME FOR TOP DOLLAR.  more...

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Good news? Sell sell sell!

By Matt Carter, Thursday, May 24, 2007.
Remember during the dot-com boom, when good news about unemployment could torpedo stock prices? Investors would panic when unemployment data showed fewer people were out of work, because they were worried that the Fed would hike interest rates to keep...  more...