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Sep

11
2007

Look into my eyes ... buy this condo ... now

By Glenn Roberts, Jr., Tuesday, September 11, 2007.
Southeast Florida real estate consultant Jack McCabe says that some real estate agents, as participants in speculative real estate purchases during the housing boom, are now victims of the housing downturn. The St. Petersburg Times newspaper reported on a couple...  more...

When there's blood on the streets

By toddwcarpenter@gmail.com, Tuesday, September 11, 2007.
Buy land. That famous real estate investment advice from Baron Rothschild came to mind today in light of the opportunity that exists for the strongest of lenders to come out of this mess in a more dominant position than ever...  more...

Ratings agencies dish it out, take it

By Matt Carter, Tuesday, September 11, 2007.
It's tempting to say that if nobody's entirely happy -- investors or the companies being rated -- then the ratings agencies must be doing something right. But there's also the possibility that they've gone from one extreme to the other, and have yet to find the correct balance between prudent tolerance for risk and caution.  more...

OPEC shows mercy on U.S. housing industry

By Matt Carter, Tuesday, September 11, 2007.
It remains to be seen whether the Fed will come riding to the rescue and help housing markets regain their footing by slashing the federal funds rate Sept. 18. But OPEC seems to have taken notice of the troubles in...  more...

Mortgage brokers say one-third of clients failed to close in August

By Matt Carter, Tuesday, September 11, 2007.

A new survey of mortgage brokers reveals that one in three prospective home buyers who had signed purchase and sale agreements in August ended up cancelling.

August was a turbulent month for mortgage lenders, as many investors stopped buying securities backed by home loans because of fears of rising delinquencies and defaults.

Not all of the cancellations reported in the survey of 1,744 mortgage brokers by Campbell Communications Inc. were the result of problems funding loans.  more...

SASCO relocates headquarters

By Inman News, Tuesday, September 11, 2007.

SASCO, a privately held electrical and data systems contractor, has signed a $17 million lease for a 221,293-square-foot corporate headquarters building in Fullerton, Calif.

The lease is for 10 years, and the building, owned by a San Francisco-based public employee pension fund, is located at 2750 Moore Ave. at the Northpoint Commerce Center.  more...

Orlando office sale tops $19 million

By Inman News, Tuesday, September 11, 2007.

A limited liability company has sold 850 Trafalgar, a 146,996-square-foot office building in Orlando, Fla., for $19.6 million.

Tricony Management LLC unloaded the property on a joint venture between Praedium Group and Tower Realty Partners Inc.  more...

Sports medicine company's HQ traded near San Diego

By Inman News, Tuesday, September 11, 2007.

A limited liability company has sold the corporate headquarters of medical device maker DJO Inc. in Vista, Calif., for $31 million.

PRES-Vista LLC sold the newly constructed facility to Bixby Land Co.

Built in 2006, the 111,639-square-foot, single-tenant office building is located at 1430 Decision St.

DJO, which was formerly dj Orthopedics Inc., occupies the two-story property on a long-term triple net lease. The property spans 7.8 acres.

NAR: New-home sales to drop 24% this year

By Inman News, Tuesday, September 11, 2007.

The National Association of Realtors has lowered expectations for 2007 home sales, according to the group's latest forecast report.

Existing-home sales are expected to drop 8.6 percent this year compared to 2006, with new single-family home sales and housing starts falling 23.8 percent, the association announced today.  more...

Colorado court upholds ruling in real estate commission dispute

By Inman News, Tuesday, September 11, 2007.

The Colorado Supreme Court has upheld a state Court of Appeals ruling that invalidated an Aspen real estate broker's agreement to list a multimillion-dollar property for sale and ordered the agent to pay back a commission to a former client.  more...

More cooling in overnight real estate rates

By Inman News, Tuesday, September 11, 2007.

Long-term mortgage interest rates fell again Monday, and the benchmark 10-year Treasury bond yield sank to 4.33 percent.

The 30-year fixed-rate average dropped to 5.93 percent, and the 15-year fixed rate slipped to 5.6 percent. The 1-year adjustable declined to 5.63 percent.

The 30-year Treasury bond yield was down at 4.64 percent.

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

Buyer beware: Foreclosure sales not for everyone Premium Content

By Glenn Roberts Jr., Tuesday, September 11, 2007.

Editor's note: Sometimes it pays to learn from others, and in today's real estate market lessons can come at a high price. This three-part series examines hurdles for homeowners facing foreclosure, buyers who are interested in buying those foreclosed homes, as well as options for standard borrowers looking to purchase a home.  more...

Bedroom is no place for furnace

By Barry Stone, Tuesday, September 11, 2007.

Dear Barry,

Our home is very old but was renovated in 1977. The people who are buying it hired a home inspector. The inspector said that our gas furnace violates the building code because it is installed in a bedroom closet. We had the home inspected before we bought it, and we've had it serviced every year since. But no one has ever told us that you can't have a gas furnace in a bedroom closet. Is this really in violation of code? --Justine

Dear Justine,  more...

Here's how we made it big in real estate, sort of

By Robert Bruss, Tuesday, September 11, 2007.

If you enjoy speculating in real estate, you will like "Making Hard Cash in a Soft Real Estate Market" by Wendy Patton and Justin Ryan. The reason this is a book for speculators is the authors suggest real estate buyers should purchase in "emerging markets" rather than in their hometowns, as most realty investors do.  more...

Best strategy for quickly paying off mortgage

By Robert Bruss, Tuesday, September 11, 2007.

DEAR BOB: I have frequently heard if your mortgage calls for monthly payments, you can make a significant interest savings if you pay twice monthly. For example, my mortgage payment is due on the first day of each month. I would like to pay half of my monthly payment 15 days before the due date and the remainder on the due date. But my lender says the only way I can do this is through a third-party company, which will then charge me a sign-up fee of several hundred dollars plus a monthly fee.  more...