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A real estate fable

By Marc Davison, Monday, August 6, 2007.

There's a reason why Aesop's fables resonate today. They delve deep into the human condition with gentle songs of pin-pointed truth. Consider the fable of the North Wind and the Sun:

The North Wind and the Sun argue over which is stronger. A competition ensues to see who can make a passing traveler uncloak. The North Wind goes first. The harder it blows at the traveler, the tighter the traveler wraps himself. The Sun goes next. Its golden rays part the looming clouds. Its warmth reaches down in a gentle embrace.  more...

Aug

6
2007

Tell us: will the cord snap?

By , Monday, August 6, 2007.
While demand for housing may return as home buyers seek out bargains, will they still be able to finance their purchases? In the last few months, lenders have sharply curtailed the use of "affordability products" like 2/28 adjustable-rate mortgages and zero-down loans that helped fuel the boom years.  more...

Cramer's Market Meltdown

By , Monday, August 6, 2007.
Armageddon. That's what CNBC's Mad Money host Jim Cramer is calling the turmoil in the fixed income markets today Friday. He's demanding the Fed drops rates to relieve the pressure. Says Cramer, "Call someone... This is not the time to...  more...

LoopNet acquires Cityfeet.com

By Inman News, Monday, August 6, 2007.

LoopNet Inc., which operates the largest commercial real estate marketplace online, on Thursday announced it acquired privately held Cityfeet.com for an aggregate cash consideration of $15 million, with an additional potential future consideration of $3 million cash if certain performance targets are met.  more...

San Francisco's Adam Grant sale closes

By Inman News, Monday, August 6, 2007.

The Adam Grant Building in San Francisco recently sold to a locally based investment group for $67 million.

San Rafael, Calif.-based Seagate Properties purchased the 190,000-square-foot building from an unidentified seller. Built in 1908 and rising 14 stories, the property is located at 114 Sansome St. in the center of San Francisco's Financial District.  more...

O.C. office deal hits big price

By Inman News, Monday, August 6, 2007.

Lee & Associates on Friday announced it has negotiated the sale of a 44,970-square-foot office building in Laguna Hills, Calif., for more than $11.5 million.

Warmington Capital Partners sold the property at 23141 Moulton Parkway to an unidentified buyer.

At the time of sale, the property was 100 percent leased to The County of Orange and The State of California, whose traffic courts and sheriff's office, respectively, occupy the space, among other government agencies.

InmanTV: Trulia and Prudential on participatory Web

By Inman News, Monday, August 6, 2007.
Real Estate Video by - Real Estate Blogger

Trulia co-founder and CEO Pete Flint and Prudential Real Estate Services President Russ Capper offered  more...

Foreclosure index up 12.5%

By Inman News, Monday, August 6, 2007.

The risk of mortgage loan delinquencies rose 4.4 percent from the second quarter but remains low compared to 2003-2004 thanks to low unemployment, according to an analysis by First American CoreLogic.

The company's Core Mortgage Risk Index, which estimates the risk of delinquencies due to fraud, collateral risk, house-price dynamics and local economies, "is increasingly driven by the fallout caused by high delinquency rates in the subprime and Alt-A markets," CoreLogic reports.  more...

How bad will credit crunch get?

By Lou Barnes, Monday, August 6, 2007.

One perversely pleasant sign in this deepening credit panic: on Friday, frightened investors began to buy top-quality mortgages as fast as Treasurys, and the lowest-fee 30-year loans fell toward 6.5 percent.

In the prior two weeks, the failure of mortgage yields to follow Treasurys was worrisome for three reasons: it looked as though all mortgages had become toxic; second, a hallmark of a really bad credit crunch is a lock-up extending to AAA paper (which Fannies and Freddies certainly are); and lower fixed rates are crucial to offset the very rapid re-pricing and/or outright removal  more...

InmanTV: NAR and Zillow envision the future

By Inman News, Monday, August 6, 2007.
Real Estate Video by - Real Estate Blogger

Dale Stinton, CEO of the National Association of Realtors, and Rich Barton, founder and CEO o  more...

Overnight real estate rates inch lower

By Inman News, Monday, August 6, 2007.

Long-term mortgage interest rates were down Friday, and the benchmark 10-year Treasury bond yield slipped to 4.68 percent.

The 30-year fixed-rate average fell to 6.23 percent, and the 15-year fixed rate sank to 5.91 percent. The 1-year adjustable held steady at 5.51 percent.

The 30-year Treasury bond yield was down at 4.87 percent.

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

Seattle Series: Carnival of Real Estate

By Inman News, Monday, August 6, 2007.

Every week, real estate bloggers across the country anxiously await the results of the past week's top posts in the real estate blogosphere. The Carnival of Real Estate, which is a traveling event hosted by a new blog each week, is about a year old.  more...

Can feds step in to stop mortgage broker greed?

By Jack Guttentag, Monday, August 6, 2007.

"According to the National Mortgage News of July 9, 2007, 'Several Democratic senators want to impose a fiduciary duty on mortgage brokers so they are obliged to serve the best interests of the borrower and can be held accountable for violations of that trust.' I assume you support this effort?"  more...

Neighbor disputes erupt when trying to sell home

By Dian Hymer, Monday, August 6, 2007.

There are few certainties in the home-sale market. However, there's one thing you can count on. If your neighbors have been harboring a concern about an issue affecting your property, you will surely hear about it when the for-sale sign goes up in front of your house.  more...

We forgot to tell you about the broken heat

By Robert Bruss, Monday, August 6, 2007.

DEAR BOB: After purchasing a townhouse condominium, my husband and I soon learned the heat didn't work. I have had several heating experts confirm the problem. Local heating contractors tell me they are aware of the deficient heat throughout the complex. In addition to the seller failing to disclose this major defect, her real estate agent who sells these units lived in the complex until recently. Replacing the electrical system (gas is not available) won't be cheap. Estimates are about $30,000.  more...