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Social media haiku

By Marc Davison, Monday, August 13, 2007.

I need a doctor
One with great bedside manner
Someone others vouch for

I need a good shrink
Like every sane New Yorker
Need to lose 10 pounds of guilt

Want to remodel
And expand my living space
Can someone help me

Business is growing
Need to hire two key people
Glad I am LinkedIn

Want to sell my home
5,000 Realtors all claim expertise
Need to weed down choice

Zen thinking

Pick up the yellow pages. You're looking at history. A pitch and a phone number -- it's not enough anymore.  more...

Aug

13
2007

Set the way back machine for 1995

By Matt Carter, Monday, August 13, 2007.
Much has been written about how a lot the international investment capital that's been sloshing around the planet (thanks in part because of the U.S.'s voracious appetite for imports) in search of nice, safe returns ended up in securities backed...  more...

'Midsummer meltdown': How did we get here?

By Jessica Swesey, Monday, August 13, 2007.
In a new report out late last week, the Center for Economic and Policy Research investigates factors that led up to the recent instability in financial markets, including the housing bubble and recent run-up in stock prices. The report examines...  more...

Bascom buys Waterfall Village

By Inman News, Monday, August 13, 2007.

The Bascom Group LLC on Thursday purchased the Waterfall Village apartments in Marietta, Ga., for an undisclosed price.

A private Atlanta investor sold the community at 1717 Waterfall Village Drive, which features 152 units across seven two- and three-story buildings. The property was constructed in 1973 and is situated on more than 9.3 acres.  more...

Orange County deal tops $46 million

By Inman News, Monday, August 13, 2007.

A joint venture recently paid $46.5 million for a 366,629-square-foot industrial facility in Santa Ana, Calif.

Locally based developer Greenlaw Partners and Commonfund Realty Inc. bought the property from First Industrial Realty Trust.

The property, located at 2001-2007 E.  more...

Corpus Christi's Baypoint, Harbour Landing sold

By Inman News, Monday, August 13, 2007.

An apartment portfolio in Corpus Christi, Texas, recently sold to a limited liability company for an undisclosed price.

The two multifamily complexes, Baypoint Resort Apartments/Condominiums and Harbour Landing Apartments, are located at 1802 Ennis Joslin Road and 8033 South Padre Island Drive, respectively.

The 350-unit Baypoint Resort sits along Oso Bay on more than 29 acres and features a comprehensive unit mix with large units that include: 60 one-bedroom, one-bath (675 square feet); 54 one-bedroom, one-bath (822 square feet); 42 two-bedroom, one-bath (909 square feet); 94  more...

MBA goes to bat for seller-funded down-payment assistance

By Matt Carter, Monday, August 13, 2007.

Sellers have probably abused their right to provide down-payment assistance through nonprofit groups, but regulators should establish caps and more stringent eligibility requirements on FHA loans rather than ban the practice outright, an industry group maintains.  more...

AgentMatch aims to add transparency to lead generation Premium Content

By Jessica Swesey, Monday, August 13, 2007.

A new online service aims to add more transparency to the process of matching consumers with real estate agents via the Internet and address problems identified by agents who have used first-generation lead services.

The service, AgentMatch, is in beta and currently available for parts of California.  more...

Number of ARM borrowers refinancing into another ARM rises

By Inman News, Monday, August 13, 2007.

Although they remained a distinct minority, more borrowers looking to refinance their adjustable-rate mortgages during the second quarter went with another ARM loan instead of a fixed-rate mortgage, Freddie Mac reports.

About 4 percent of borrowers with 1-year ARMs stayed with that product when they refinanced during the second quarter, compared with 1 percent in the first quarter and 2 percent a year ago, Freddie Mac said.  more...

Fidelity closes deal to acquire ATM Holdings Inc.

By Inman News, Monday, August 13, 2007.

Fidelity National Financial Inc. said today it has closed a deal to acquire title and closing services provider ATM Holdings Inc.

According to FNF's most recent quarterly report, it will pay $100 million for ATM under an Aug. 1 agreement.

ATM's primary subsidiary is a title insurance agency that provides title and closing services as well as valuation and appraisal services to mortgage originators and banks.  more...

Zillow finds declining home values in 44 of 66 metro areas

By Inman News, Monday, August 13, 2007.

Estimated home values dropped in 44 of 66 metro-area markets reported by home valuation and marketing company Zillow in the second quarter compared to the same quarter last year.

Zillow reported today that its national Zindex -- calculated as the median of all of the company's home-value estimates across the country -- dropped 2.8 percent to $251,588 between the second quarter of 2006 and the second quarter of 2007.  more...

OFHEO says no to raising caps on GSEs' loan portfolios Premium Content

By Matt Carter, Monday, August 13, 2007.

Echoing statements by President Bush, federal regulators said Friday they aren't ready to lift caps on the loan portfolios of mortgage repurchasers Fannie Mae and Freddie Mac.

The government-sponsored entities, or GSEs, haven't finished fixing problems uncovered by accounting and management scandals, regulators said, and raising caps on Fannie and Freddie's portfolios would provide little relief for subprime and Alt-A borrowers for whom loans have grown scarce.

Democratic Senators Christopher Dodd and Charles Schumer are among lawmakers who have urged the Office of Federal Hou  more...

Real estate rates mixed overnight

By Inman News, Monday, August 13, 2007.

Long-term mortgage interest rates were scattered Friday, and the benchmark 10-year Treasury bond yield rose to 4.81 percent.

The 30-year fixed-rate average edged up to 6.24 percent, and the 15-year fixed rate dipped to 5.89 percent. The 1-year adjustable climbed to 5.64 percent.

The 30-year Treasury bond yield was up at 5.03 percent.

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

Cut mortgage payment in half upon retirement

By Jack Guttentag, Monday, August 13, 2007.

"I am 58 and just purchased the home in which my wife and I plan to spend the rest of our lives. We paid points to reduce the rate on a 30-year fixed-rate mortgage to 4.75 percent.

I am feeling very insecure. The payment is affordable now, but I plan to retire in seven years and my income will drop. At that point, my property taxes will almost certainly be higher as well.  more...

Things to know before buying a vacation home

By Dian Hymer, Monday, August 13, 2007.

Nationally, home sales declined 4.1 percent in 2006 from 2005. But, vacation-home sales rose 4.7 percent in 2006 to a record 1.07 million sales, according to the National Association of Realtors (NAR). The increased interest in buying vacation homes for personal use rather than rental is expected to continue throughout this decade.

The annual Investment and Vacation Home Buyers Survey from NAR found that vacation-home buyers intend to hold on to their property for a median of 10 years. Thirty-eight percent of respondents plan to keep their property for 11 years or more.  more...

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