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Watch what you sign with online listings agreements Premium Content

By Glenn Roberts Jr., Wednesday, June 6, 2007.

While opportunities abound to market properties online, real estate professionals should take heed of what they are signing when they submit property listings content to Web sites they do not control, says a paper prepared for a subsidiary of the Florida Association of Realtors trade group.  more...

Bascom's latest Georgia acquisition

By Inman News, Wednesday, June 6, 2007.

The Dunwoody Club apartment community in Sandy Springs, Ga., has been purchased for a price of $48 million.

The Bascom Group LLC acquired the 532-unit asset from Place Properties at a price that represents $90,226 per unit.

Located at 7700 Colquitt Road, the property, which was built in 1982-83, sits on 53 acres and includes an outdoor swimming pool, indoor swimming pool, five lighted tennis courts, racquetball courts, fitness center, executive business center, car care center, laundry facilities and a leasing center.  more...

Great Indoors store sold near Denver

By Inman News, Wednesday, June 6, 2007.

A big-box retail property occupied by a home decorating and remodeling superstore has sold for $33.7 million in Lone Tree, Colo.

Providence, R.I.-based Eaton Vance Management paid all cash to Denver-based The Broe Cos. for the property, which houses retailer The Great Indoors via a triple-net lease.  more...

Massive St. Louis office deal

By Inman News, Wednesday, June 6, 2007.

Tenant-in-common investors have purchased a 315,000-square-foot office building in St. Louis, Mo., for an undisclosed price.

The property, located at 8555 University Place, is a three-story, single-tenant building that serves as the corporate headquarters for Express Scripts, a Fortune 500 manager of pharmacy benefit plans.  more...

Project Blogger contestants share stories

By Inman News, Wednesday, June 6, 2007.

Starting a real estate blog can be a) intimidating; b) exhilarating; c) time-consuming; or d) fun.

The answer is all of the above. Two of the industry's newest bloggers and two veteran bloggers will share experiences during an Inman News audio conference, "Building From the Ground Up," Monday, June 11, at 11 a.m. Pacific.

Listen to these first-hand experiences from participants in the Project Blogger challenge to hear what it really took to get their real estate blogs up and running.  more...

North Carolina fines CFIC Home Mortgage $848,000

By Inman News, Wednesday, June 6, 2007.

A Florida-based mortgage lender has agreed to pay $848,000 to settle allegations by North Carolina regulators that the company operated without proper supervision and control of its loan officers.

Challenge Financial Investors Corp. was accused of operating a "net branch" company, where loan officers were allowed to operate with minimal supervision in exchange for a small fee for each loan originated in the company's name.  more...

John L. Scott launches real estate 'Etch A Sketch'

By Inman News, Wednesday, June 6, 2007.

Like Etch A Sketch for online real estate searches, a new tool created for Pacific Northwest brokerage company John L. Scott Real Estate allows consumers to outline a customized shape on a map to search for available homes within that area.

The tool, called Neighborhood Wizard, uses geocoding technology to find home matches in the user-selected boundaries based on properties' longitude and latitude coordinates.

"It's almost like using an Etch A Sketch to define your search area," said John L. Scott chairman and CEO J.  more...

Innovator Awards open for nominations

By Inman News, Wednesday, June 6, 2007.

Honor and highlight the most remarkable innovations of 2007 by nominating your favorites for the annual Inman Innovator Awards.

The Inman Innovator Awards recognize companies that use technology and innovation to enhance the real estate transaction for consumers and real estate professionals. In addition, one individual who embodies the spirit of innovation in real estate is honored each year.

The submission deadline is June 15.  more...

Mortgage rates hit 10-month highs

By Inman News, Wednesday, June 6, 2007.

Mortgage rates this week grew to highs not seen since last August on news of stronger economic conditions and rising inflation risk, Freddie Mac and Bankrate.com reported today.

In Freddie Mac's survey, the 30-year fixed-rate mortgage jumped to an average 6.53 percent from 6.42 percent a week ago, while the 15-year fixed-rate mortgage rose from 6.12 percent to 6.22 percent. Points, which are fees lenders charge for loan processing expressed as a percent of the loan, averaged 0.4 on the 30- and 15-year loans.  more...

Overnight real estate rates get boost

By Inman News, Wednesday, June 6, 2007.

Long-term mortgage interest rates were up again Wednesday, and the benchmark 10-year Treasury bond yield dipped to 4.97 percent.

The 30-year fixed-rate average rose to 6.12 percent, and the 15-year fixed rate grew to 5.82 percent. The 1-year adjustable dropped to 5.55 percent.

The 30-year Treasury bond yield was down at 5.08 percent.

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

Discount brokerages band together Premium Content

By Matt Carter, Wednesday, June 6, 2007.

Editor's note: Real estate commissions once again are at the center of debate after a recent "60 Minutes" segment on online discounters and a federal report on industry competition. In this three-part series, Inman News looks at recent research on commissions, the mystery around what agents and brokers can and cannot legally discuss, and how the new discount entrants are collaborating to add pressure to price.  more...

I should've had rental property owner's insurance

By Robert Griswold, Wednesday, June 6, 2007.

Question: I own a condo that I've rented out for the last 13 years. My current property manager is my concern. The last tenant sublet my condo to another person who was not on the lease. This new occupant caused considerable damage before he was removed, and I found out about the damage through a third party, not my property manager. Then, without my knowledge, the property manager brought in a "contractor" he found through a small ad in a local newspaper to do the repairs.  more...

Can sibling force sale of inherited house?

By Robert Bruss, Wednesday, June 6, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, June 11, 2006.  more...

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Midyear Housing Concerns

By Jessica Swesey, Wednesday, June 6, 2007.
Ted Jones, chief economist for Stewart Title, shares his 2007 housing concerns: 1. Some real estate bubbles do exist 2. "Time-bomb" loans 3. "Cold War II" terrorists 4. Inflation and cap rates 5. Pandemic (Bird Flu, etc.) 6. More hedge...  more...

Latest NAR market forecast: that was then

By Glenn Roberts, Jr., Wednesday, June 6, 2007.
It's a different ballgame from the boom days -- the latest National Association of Realtors housing market forecast calls for a 1.3 percent decline in existing-home prices and a 2.3 percent decline in new-home prices this year compared to 2006...  more...
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