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Florida office deal tops record books

By Inman News, Wednesday, May 9, 2007.

A joint venture sold its 356,000-square-foot office tower in Orlando, Fla., for $90.6 million, reportedly a record price per square foot in that market.

The Praedium Group LLC and Tower Realty Partners Inc. commanded $255 per square foot from buyer Eola Capital, a price that beat the previous record by more than 10 percent, according to a press statement.

The 19-story property, One Orlando Centre, was built in 1987 and includes an adjacent eight-story parking facility.  more...

$18M Pennsylvania multifamily sale

By Inman News, Wednesday, May 9, 2007.

Madison Apartment Group LP recently paid $18.2 million for a 264-unit apartment complex in Hatfield, Pa.

Located at 2700 Elroy Road, Pennfield Manor Apartments is comprised of 15 buildings situated on 18 acres. The unit mix includes one-, two- and three-bedroom floor plans, some of which are townhomes.

The original developer sold the property, which has a "strong value-add opportunity," according to a press statement.  more...

Louisiana's Castlebrook community sold

By Inman News, Wednesday, May 9, 2007.

Castlebrook Apartment Homes, a 264-unit multifamily community in Baton Rouge, La., has sold for approximately $17.2 million.

An unidentified entity purchased the property from a Louisiana-based private partnership at a price that represents $64,962 per unit.

Located at 4944 South Sherwood Forest Blvd., the 222,930-square-foot facility is a two-story building, of which 184 units have been recently renovated.

Kansas City house flipper gets 5 years without parole

By Inman News, Wednesday, May 9, 2007.

A 28-year-old house flipper from Kansas City, Mo., has been sentenced to five years in prison without parole and ordered to pay $4.9 million in restitution after pleading guilty to mortgage fraud conspiracy and money laundering.

Prosecutors said Jeffrey Tyler Wine admitted to conspiring to defraud mortgage lenders by convincing them to loan investors $17.6 million to purchase 280 residential properties from November 2001 to May 2005.  more...

Mortgage rates calm in weekly surveys

By Inman News, Wednesday, May 9, 2007.

Mortgage rates posted another week of mixed results as weak job growth helped keep a lid on inflation, Freddie Mac and Bankrate.com reported today in their weekly surveys.

According to Freddie Mac, the 30-year fixed-rate mortgage dipped to an average 6.15 percent from last week's 6.16 percent and the 15-year fixed-rate mortgage held at 5.87 percent.  more...

Microblogging heats up with Jaiku

By Jessica Swesey, Wednesday, May 9, 2007.

Just when you thought you had a handle on blogging and the social networking that takes place around this online activity, along comes microblogging.

Microblogging?  more...

Little action in overnight real estate rates

By Inman News, Wednesday, May 9, 2007.

Long-term mortgage interest rates were mostly flat Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.67 percent.

The 30-year fixed-rate average inched up to 5.77 percent, and the 15-year fixed rate held at 5.49 percent. The 1-year adjustable stayed at 5.61 percent.

The 30-year Treasury bond yield climbed to 4.84 percent.

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

ZipRealty reports $3.1 million loss

By Inman News, Wednesday, May 9, 2007.

Real estate brokerage company ZipRealty Inc.  more...

'60 Minutes' to shine light on real estate

By Inman News, Wednesday, May 9, 2007.

"60 Minutes" is turning its lens on the real estate industry with a segment Sunday night investigating some familiar topics.

The television network has been snooping around the industry, crisscrossing the country interviewing brokers, agents, discounters and government figures.

In January at the Real Estate Connect conference in New York, "60 Minutes" sent a crew to film a debate between Move's Allan Dalton and Redfin's Glenn Kelman.

"60 Minutes" is an investigative television newsmagazine on U.S.  more...

Real estate agents learn to Google themselves Premium Content

By Glenn Roberts Jr., Wednesday, May 9, 2007.

Editor's note: With some three-quarters of real estate consumers going online to look for property listings, neighborhood information, home buying and selling advice, and tips on how to choose a Realtor, it's become crucial for real estate businesses to gain a sense of where people are going, what they are looking for, and what kinds of information they are contributing to online forums and review sites. In this three-part series, Inman News looks at various aspects of tracking online real estate trends.  more...

Family emergency forces tenant to break lease

By Robert Griswold, Wednesday, May 9, 2007.

Question: I signed a one-year lease for an apartment here when I came down for college. My father was a co-signer on the lease because I don't have credit or a job. Well, unfortunately my father has suffered a severe stroke, which has left him with almost no memory, impaired speech and mobility, and no job. Aside from this I also received a letter from his neurologist telling me that I have to travel back home and take care of my father, being that I am the only available family member -- my other brother is in the military and cannot leave to take care of him.  more...

Frat brothers win big in real estate

By Robert Bruss, Wednesday, May 9, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, April 2, 2006.  more...

Realtor ranks swell, but their pocketbooks don't Premium Content

By Glenn Roberts Jr., Wednesday, May 9, 2007.

The typical Realtor is making less money and doing fewer deals as more people have joined the profession, according to the latest National Association of Realtors member survey.  more...

NovaStar accused of redlining Baltimore row houses Premium Content

By Inman News, Wednesday, May 9, 2007.

Subprime lender NovaStar Financial Inc.  more...

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Putting the "M" in CONDO

By Glenn Roberts, Jr., Wednesday, May 9, 2007.
An announcement for ManhattanWest, a condo project in Vegas, is marketing hers and his units. The development offers "amenities crafted for specific male and female demographics, while also offering a 'mix and match' option for those wanting to enjoy the...  more...
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