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Qualcomm finds space in San Diego

By Inman News, Tuesday, June 12, 2007.

Wireless communications company Qualcomm recently leased more than 150,000 square feet of office space in San Diego, Calif., for an undisclosed price.

Qualcomm will occupy 143,301 square feet at Pacific Center III and 23,000 square feet at Pacific Center I, located at 10160 Pacific Mesa Blvd. and 10145 Pacific Heights Blvd., respectively.  more...

$281 million West Coast skyscraper sale

By Inman News, Tuesday, June 12, 2007.

A joint venture has purchased a 43-story office building in downtown San Francisco for $281 million.

The Sterling American Property Inc.-Hines partnership bought from an unidentified seller.

Totaling 542,743 square feet, the class A building is located at 333 Bush St.

At the time of sale, the property was 75 percent leased to tenants that included America Online (AOL) and the law offices of Heller Ehrman LLP. More than 135,000 square feet was available for lease, according to a press statement.

Wells REIT dumps Caterpillar building

By Inman News, Tuesday, June 12, 2007.

Wells Real Estate Investment Trust has sold the Caterpillar Inc. warehouse facility near Greenville, S.C., to HRPT Properties Trust.

The value of the transaction was not disclosed.

The 168,000-square-foot office/warehouse property at 111 Southchase Blvd. in Fountain Inn was built in 1987, and was acquired by a joint venture led by Wells REIT in 1999. Caterpillar, a manufacturer of construction equipment and engines, last year signed a five-year lease.

Who is Craig Newmark's hero?

By Inman News, Tuesday, June 12, 2007.

Craig Newmark is the soft-spoken man behind the nationwide network of online community sites known as craigslist, which feature back-to-basics, bulletin-style classifieds, as well as community discussion boards.

The sites have made a mark on real estate, with more brokers and agents using them as another place on the Web to expose their listings, and more consumers turning to the Internet for real estate information.

Newmark founded the first craigslist site in San Francisco in 1995, and now serves as chief customer servi  more...

Rentals Web site files lawsuit over licensing requirement Premium Content

By Glenn Roberts Jr., Tuesday, June 12, 2007.

The operators of a rental-search Web site are suing the Missouri Real Estate Commission over its insistence that the site shut down for lack of a real estate brokerage license to display online real estate information.

The state's Attorney General's Office stated in a court filing that the company's business activities "constitute the practice of a real estate broker ... and/or as a real estate salesperson" under state law and seeks to dismiss the complaint.

Similar lawsuits by other companies have opposed similar regulations in California and New Hampshire.  more...

Foreclosure filings continue to rise

By Inman News, Tuesday, June 12, 2007.

Foreclosure filings jumped 90 percent in May compared to the same month last year, reported RealtyTrac, a company that maintains a national database of pre-foreclosure and foreclosure properties.

The company's U.S. Foreclosure Market Report for May shows 176,137 foreclosure filings, including default notices, auction sale notices and bank repossessions -- a rate of one foreclosure for every 656 households. The number of foreclosure filings rose 19 percent compared to April 2007.  more...

Borrowers jump back into real estate

By Inman News, Tuesday, June 12, 2007.

Despite steadily climbing interest rates, mortgage application activity last week rose for the first time since mid-May, the Mortgage Bankers Association reported today.  more...

Overnight real estate rate gains hit 9th day

By Inman News, Tuesday, June 12, 2007.

Long-term mortgage interest rates continued higher Tuesday, and the benchmark 10-year Treasury bond yield climbed to 5.3 percent.

The 30-year fixed-rate average gained to 6.36 percent, and the 15-year fixed rate rose to 6.04 percent. The 1-year adjustable was up to 5.57 percent.

The 30-year Treasury bond yield jumped to 5.41 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...

Blogging Series: Noah Rosenblatt

By Inman News, Tuesday, June 12, 2007.

Urbandigs.com founder Noah Rosenblatt talks to Inman TV about his highly successful real estate blog and its well-earned credibility, based on content. The blogger also gives some insight into the Manhattan real estate market.

Troubled borrowers find temporary mortgage relief

By Tom Kelly, Tuesday, June 12, 2007.

I once asked an accountant why a homeowner had to face a surprising penalty from the Internal Revenue Service after losing his job and his home because of a downtown in the economy.

When the homeowner had to sell his home for less than its purchase price (known as a short sale), the bank also forgave a portion of the mortgage. The amount forgiven, $15,000, showed up as taxable income on the homeowner's tax return.  more...

The weather's horrible in my Victorian

By Bill and Kevin Burnett, Tuesday, June 12, 2007.

Q: I live in the upper unit of a Victorian duplex. It's a rental unit and I assist the landlord in upkeep. From time to time, I suggest maintenance items to him.

I would like to know how difficult and effective it is to put roof insulation in a unit like this. During the winter, it is difficult to keep heat in. During the summer, the heat builds up in the afternoon and remains into the evening. There is no insulation in the attic.  more...

Inherited real estate can be a hassle

By Robert Bruss, Tuesday, June 12, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, July 16, 2006.

DEAR BOB: Is it true when someone inherits real estate, which was the deceased's primary residence, the mortgage will be wiped out at the time of death and the property title passes free and clear of all liens? I heard if the property was not the deceased's principal residence, then the heir has to pay the debts --Rick S.  more...

Judge rescues home from tax sale

By Robert Bruss, Tuesday, June 12, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, July 16, 2006.

For more than 30 years, Gary Kent Jones owned the house at 717 North Bryan St. in Little Rock, Ark. He lived there with his wife until they separated in 1993. Jones then moved to a nearby apartment. His wife and daughter continued living in the house.  more...

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The Fight for Stronger Property Rights

By Glenn Roberts, Jr., Tuesday, June 12, 2007.
In November, 13 states decided either through ballot initiatives or legislation whether local governments must limit eminent domain (the right for a public agency to take land), pay property compensation, or both, according to a report in the May issue...  more...

Listen up

By Jessica Swesey, Tuesday, June 12, 2007.
Thanks again to the four speakers who joined me for yesterday's podcast, "Building from the Ground Up: Real Experiences Starting a Real Estate Blog from Scratch." We invited four participants from the Project Blogger competition to share experiences in a...  more...
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