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'The Royalton' sells in Pasadena

By Inman News, Thursday, June 7, 2007.

Beverly Hills, Calif.-based developer StarPoint Properties LLC has purchased a 61-unit apartment building in nearby Pasadena for approximately $9.4 million.

Known as "The Royalton," the property is located at 2211 East Washington Blvd. It was built in 1965 and has a mix that includes one bachelor unit, 29 one-bedroom/one-bath units, five two-bedroom/one-bath units, 20 two-bedroom/two-bath units and six three-bedroom/two-bath units.

The seller was a private party.  more...

Big Corpus Christi multifamily deal

By Inman News, Thursday, June 7, 2007.

Tenant-in-common investors recently acquired a 220-unit multifamily complex in Corpus Christi, Texas, for an undisclosed price.

The San Marin Apartments, sold by Parkwood Management, is located on 9.5 acres. Built in 1998, the property is comprised of 10 three-story apartment buildings totaling approximately 192,000 square feet, with an average unit size of 873 square feet.  more...

Hines, CalPERS partner in Texas

By Inman News, Thursday, June 7, 2007.

International real estate firm Hines and the California Public Employees' Retirement System (CalPERS) recently purchased a 22-story office tower in Austin, Texas, for an undisclosed amount.

The 418,338-square-foot building, located at Congress and E. 3rd Street, was sold by a joint venture between Crescent Real Estate Equities Co. and Aetna.

Parking is provided in a nine-level attached garage -- four levels below-grade parking and five levels above-grade.  more...

Ohio charges 10 companies with pressuring appraisers Premium Content

By Matt Carter, Thursday, June 7, 2007.

Ohio's attorney general has filed complaints against nine mortgage brokers and lenders who allegedly tried to pressure appraisers into making inflated valuations in violation of the state's new anti-predatory-lending law.

In nine separate lawsuits, the state charges that mortgage brokers and lenders provided appraisers with estimated values when requesting valuations, in some cases urging them not to carry out an appraisal if the estimates could not be validated.  more...

New book chronicles first years in real estate Premium Content

By Alison Rogers, Thursday, June 7, 2007.

It felt like the closing to end all closings: my first book came out this week.

I started working as a reporter when I was in my 20s. More properly, I started working as a fact-checker: other people would write the articles, and I would call the sources who had been quoted and make sure there weren't any screw-ups.  more...

FSBOs do better than agent listings in Wisconsin town Premium Content

By Inman News, Thursday, June 7, 2007.

Two economists have taken on the question: Who gets the better deal -- the home seller who uses a real estate agent and the local multiple listing service or the seller who does it on his own? Their conclusion is that the for-sale-by-owner does. At least in one Midwest city.  more...

Can we expect a low-rate future?

By Lou Barnes, Thursday, June 7, 2007.

Four bad weeks in a row, this one the worst by far, yesterday the most abrupt bond-market move in two years. Mortgages are 6.75 percent, up a half-percent since May 14.

The 10-year Treasury: 4.6 percent in mid-May, 4.9 percent last week, 4.97 percent Wednesday, 5.13 percent Thursday, 5.24 percent in Europe last night, and semi-stable at 5.16 percent today.

Last time this high: summer '06 at the 5.25 percent conclusion of the Fed's two-year rate rise. Long-term rates quickly fell thereafter, all fall and winter looking for a housing or Fed-caused recession.  more...

Real estate rates still higher overnight

By Inman News, Thursday, June 7, 2007.

Long-term mortgage interest rates were up again Thursday, and the benchmark 10-year Treasury bond yield jumped to 5.13 percent.

The 30-year fixed-rate average rose to 6.19 percent, and the 15-year fixed rate grew to 5.89 percent. The 1-year adjustable climbed to 5.57 percent.

The 30-year Treasury bond yield gained strongly to 5.23 percent.

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

Connect with bloggers around the world

By Inman News, Thursday, June 7, 2007.

Real estate bloggers from around the globe will gather in San Francisco for a two-day real estate blogging and networking event, July 31-Aug 1, to discuss changes taking place in the blogosphere and the best ways to use blogging in your business.

The first Bloggers Connect conference includes panel sessions on finding your voice, monetizing your blog, utilizing your blog for online leads, social networking, widgets and more.  more...

Stress reduction for real estate agents Premium Content

By Bernice Ross, Thursday, June 7, 2007.

If you're feeling stressed out by the market and by the constant time crunch we all face, it's time to shift gears and dump the stress that you are experiencing.

1. Eliminate "Time"

Several weeks ago, I noticed how often I was saying, "I don't have enough time to …" It appeared everywhere in my e-mails; it turned up constantly in my conversations; and I felt completely stressed out.  more...

For sale: 1970s Victorian -- I swear!

By Arrol Gellner, Thursday, June 7, 2007.

The names of architectural styles are often invoked, but seldom used precisely. Even people who should know better conflate styles, whether intentionally or not. In real estate listings, for instance, nondescript old piles are routinely elevated to Victorians, Bungalows or whatever else happens to be selling. Architects aren't immune from such stylistic confusion, either: Many of us bandy about terms such as Tudor, Elizabethan and Half-Timbered, or Mission, Mediterranean and Moorish without really knowing how they differ.  more...

Hot new tools for do-it-yourself Dad

By Paul Bianchina, Thursday, June 7, 2007.

Father's Day will be here before you know it, and there's nothing that would please a do-it-yourself Dad more than some hot new tools. Here are some great suggestions, available at most home centers and hardware stores, or through online retailers. Prices shown are approximate suggested retail.  more...

Home sellers hit roadblocks in today's market

By Robert Bruss, Thursday, June 7, 2007.

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

Spring is the traditional peak sales season for houses and condos. Summer is also usually very good until the traditional August slump, especially for families who want to relocate before school starts. More prospective home buyers are in the market at this time of the year than during any other season.  more...

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Tune In For Blogging Tips

By Inman News, Thursday, June 7, 2007.
Project Blogger has been going on for about 8 weeks now. Ongoing updates can be found on the Connect SF 2007 Blog. The premise was simple. 12 blogging coaches selected 12 apprentices to mentor and set on the path towards...  more...

What frenemies are for

By Glenn Roberts, Jr., Thursday, June 7, 2007.
A frenemy is not a friendly anenome. A frenemy can be both friend and enemy -- a partner and a competitor. A report on local online ad trends, released this week by research company Borrell Associates Inc., says there is...  more...
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