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Pennsylvania shopping plaza sells above asking price

By Inman News, Wednesday, June 20, 2007.

A family-owned shopping center in South Whitehall, Pa., has sold for $14.3 million -- which is $300,000 over list price.

SMM Realty LLC acquired the 106,843-square-foot Dorneyville Shopping Center in a 1031 exchange from an unidentified seller. The site is located at the intersection of Hamilton Boulevard and Haines Mill Road.  more...

Northwest Marketplace deal closes

By Inman News, Wednesday, June 20, 2007.

The Northwest Marketplace retail center in Houston, Texas, has sold for an undisclosed price.

Inland Real Estate Acquisitions purchased the 183,024-square-foot property from Kimco Realty Corp.

Completed in 2002 and located at 13706-13846 Northwest Freeway in the Highway 290 corridor, the building was fully leased at the time of sale to tenants that included Ross Dress for Less, Office Depot, PetSmart, Old Navy, Famous Footwear, Pier 1, Panera Bread and Chipotle.  more...

Office sale in Houston's Energy Corridor

By Inman News, Wednesday, June 20, 2007.

Tenant-in-common investors recently sold a 207,435-square-foot office property in the Energy Corridor District of Houston, Texas, for an undisclosed price.

The property, 1401 Enclave Parkway, is a six-story, class A building home to four tenants -- The Shaw Group Inc., Meridian Resource Co. LLC, Lloyd's Register North America Inc., and Parker Drilling Co. -- at the time of sale.  more...

New innovators to appear at industry confab

By Inman News, Wednesday, June 20, 2007.

Founders of the newest Web 2.0 and real estate 2.0 streets will speak at Real Estate Connect in San Francisco, Aug.  more...

Subprime borrowers paying off credit cards before mortgages

By Inman News, Wednesday, June 20, 2007.

A study by the credit bureau Experian reveals borrowers with credit scores of 620 or lower are more likely to be behind on their mortgage payments than their credit card bills -- a departure from historic norms.

Borrowers with prime credit scores above 680 are still paying off their mortgages before their credit cards, the study found.

Experian says the mortgage delinquency rate for subprime consumers has grown at 13.2 percent over the past four years, while the rate of credit card delinquencies has declined.  more...

Mortgage rates end week lower

By Inman News, Wednesday, June 20, 2007.

Long-term mortgages rates dipped this week as weak home-builder optimism and lower housing starts took pressure off inflation, Freddie Mac and Bankrate.com reported today.

In Freddie Mac's survey, the 30-year fixed-rate mortgage sank to an average 6.69 percent from 6.74 percent last week, while the 15-year fixed-rate mortgage declined to 6.37 percent from 6.43 percent. Points, which are fees lenders charge for loan processing expressed as a percent of the loan, averaged 0.5 on the 30- and 15-year loans.  more...

Slow economic growth to continue

By Inman News, Wednesday, June 20, 2007.

Although a key economic indicator improved in May on brighter employment and housing news, don't expect a boom anytime soon, The Conference Board reported today.  more...

Internet Brands builds family of real estate sites Premium Content

By Matt Carter, Wednesday, June 20, 2007.

Editor's note: Marketing experts expect a continuing migration of real estate advertising dollars online, so it's no surprise that a growing list of companies are seeking to capitalize on the online marketing trend. Some companies are focused around a single Web site, while others are approaching the industry from many fronts and with many sites to draw both real estate professionals and consumers. In this three-part special report, Inman News analyzes three large companies that each have multiple real estate holdings and Web sites.  more...

Treasury yields, hedge fund woes may send mortgage rates up

By Inman News, Wednesday, June 20, 2007.

Mortgage rates are expected to push higher after Tuesday's surge in yields for 10-year Treasury notes and news that two Bear Stearns hedge funds that invested heavily in bonds backed by subprime mortgages may be near collapse.

The yield on 10-year Treasury notes hit 5.15 percent Wednesday -- an increase of six basis points in 24 hours that could also push up mortgage rates.  more...

Overnight real estate rates stand pat

By Inman News, Wednesday, June 20, 2007.

Long-term mortgage interest rates held steady Wednesday, and the benchmark 10-year Treasury bond yield crept up to 5.13 percent.

The 30-year fixed-rate average stayed at 6.29 percent, and the 15-year fixed rate froze at 5.99 percent. The 1-year adjustable was down to 5.54 percent.

The 30-year Treasury bond yield gained to 5.24 percent.

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

Construction job loss may be understated Premium Content

By Glenn Roberts Jr., Wednesday, June 20, 2007.

Home builders have been hit hard by the downturn in the U.S. real estate market, and an economic report released this week by the Anderson Forecast at the University of California, Los Angeles, asks, "Where are the unemployed construction workers?"

The report, by economist Jerry Nickelsburg, points to a statistical anomaly -- while demand for housing is down in Los Angeles County, and permits and prices are down for new homes, the data suggest that employment in residential construction is not falling. How can this be?  more...

Free blogs for Realtors

By Inman News, Wednesday, June 20, 2007.

InmanTV talks about the benefit that Realtors will enjoy as a result of Realtor.com's recent announcement about providing free blogs.

Condo residents protest fountain's demise

By Robert Griswold, Wednesday, June 20, 2007.

Question: We have owned a condo on a local golf course for seven years. There is a beautiful waterfall fountain/pond on the property that has been there since the complex was built in the early 1970s. We, along with the owner before us, took good care of it and consider it to be an integral part of our living experience. We are not sure if it is in the association common area, but the association has never taken any steps whatsoever to care for the fountain.  more...

Moving out may bring faster home sale

By Robert Bruss, Wednesday, June 20, 2007.

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

DEAR BOB: I plan to sell my home. Should I stay in my home while trying to sell it? We could move into our new home and leave the one we are trying to sell vacant. Which scenario will help sell our home faster? --Dana P.

DEAR DANA: Your listing real estate agent is in the best position to advise you whether to stay or move during the sales process.  more...

Jun

20
2007

Real Estate's Trabajadores Escondidos -- the Hidden Workers

By Glenn Roberts, Jr., Wednesday, June 20, 2007.
Job losses in the residential construction industry may be understated because of undocumented workers who don't show up in most statistical analyses, according to a report released this week by an economist for the Anderson Forecast at University of California,...  more...
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