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Sep

21
2007

Marketing demons and market prophecies

By Glenn Roberts, Jr., Friday, September 21, 2007.
Creed Smith, a real estate broker in Denver, Colo., is not the first broker to envision major change for the real estate industry, and he's not the first to propose a subscription-based property-listing service as an alternative to traditional multiple...  more...

Inflation bears, gold bugs and the Buzz Lightyears of global growth

By Matt Carter, Friday, September 21, 2007.
Mortgage broker and Inman News syndicated columnist Lou Barnes today explains why mortgage rates are higher this week than last: financial markets have been taken over by "inflation bears, gold bugs and the Buzz Lightyears of global growth." Fed Chairman...  more...

Bascom adds 440 units to Denver portfolio

By Inman News, Friday, September 21, 2007.

The Bascom Group LLC on Thursday completed its $51.7 million acquisition of a 440-unit apartment community in Denver, Colo., bringing its multifamily holdings in the area to 14 with a total of 5,038 units.

The property, Lakecrest at Gateway Park, was built in 2001 on more than 13.7 acres. There are 216 one-bedroom apartments, 144 two-bedroom apartments and 80 three-bedroom apartments. Unit sizes range from 752 square feet to 1,314 square feet with an average of 969 square feet.  more...

Minneapolis sports club deal tops $12 million

By Inman News, Friday, September 21, 2007.

LA Fitness Sports Club, a 45,050-square-foot fitness center in Apple Valley, Minn., has sold for $12.3 million.

Neither the seller's nor the buyer's identity was disclosed.

Located at 151st Street and Galaxie Avenue, the property sits in front of Apple Valley Ford and is adjacent to CVS, AutoMax, Kohl's and Michael's. LA Fitness has signed a 15-year, double-net lease that commenced in mid-June. The lease also contains three five-year options to extend.

The sales price of $12.3 million represents a price of $273 per square foot.  more...

Furniture importer signs SoCal lease

By Inman News, Friday, September 21, 2007.

DCT Industrial Trust Inc. on Thursday announced it has leased 221,840 square feet of industrial space in Fontana, Calif., to a furniture importer.

The value of the transaction was not disclosed.

Houston, Texas-based Crown Mark Inc. will occupy the entire Meyer Canyon building, a bulk distribution facility, for 64 months.

As of June 30, 2007, DCT Industrial Trust owned, managed or had under development 418 properties totaling more than 67 million square feet.

Three Wisconsin MLSs announce data-sharing system Premium Content

By Glenn Roberts Jr., Friday, September 21, 2007.

Three of the largest multiple listing services in Wisconsin announced a real estate data-aggregation plan that will allow most brokers in the state to share their property listings information with other participants and display property listings information from other participants on their own Web sites.

The Wisconsin Real Estate Exchange, dubbed WIREX, is a major step toward a statewide data-sharing system -- WIREX participants will invite the other nine MLSs operating in Wisconsin to join the system early next year, according to Kevin McQueen, a real estate consultant hired to ass  more...

HSBC closes Decision One, lays off 750

By Inman News, Friday, September 21, 2007.

HSBC Finance Corp. said it will lay off 750 workers as it closes Decision One Mortgage, the company's subprime wholesale lending channel, and concentrate on making loans through the company's retail branches.

The Prospect Heights, Ill.-based lender said most of the affected Decision One workers are located in Fort Mill, S.C.; Phoenix, Ariz.; and Charlotte, N.C.

Decision One accounted for "a small part" of parent company HSBC Holdings' U.S.  more...

Broker proposes new real estate marketing platform Premium Content

By Glenn Roberts Jr., Friday, September 21, 2007.

A working paper, "The Real Estate Market 2003-2012," offers grim views about the far-reaching effects of foreclosures and the future of big-brand real estate brokerage companies and traditional multiple listing services.

A separate, illustrated booklet, "The Demon of Marketing," warns that rapid industry changes fueled by Internet marketing will "definitely destroy many who are not innovative" and features graphic imagery of burn  more...

Despite Fed cut, mortgages now more expensive

By Lou Barnes, Friday, September 21, 2007.

As incredulous clients are learning, mortgage rates are higher now than last week, back up to 6.5 percent for vanilla 30-year. Yes, higher. ("Sonny, you should be ashamed to try to trick an old lady! I still read the newspaper!  more...

Lead quality a two-sided coin Premium Content

By Matt Carter, Friday, September 21, 2007.

Mortgage lead generator LendingTree may be hoping to drive some less desirable lenders away by raising prices next month, some industry participants say.

As the marketing tactics of some mortgage lenders come under increased scrutiny, they say, LendingTree wants to rid itself from companies that make consumers sorry they used the site or others like it to search for a loan.  more...

Thanks for the rate cut

By Alison Rogers, Friday, September 21, 2007.

Thank you for the rate cut, Mr. Greenspan … I mean, Mr. Bernanke!

The Fed's move earlier this week to ease credit could not have come at a sweeter time. Borrowers, especially jumbo borrowers, were starting to have a terrible time getting money.

Now we have a bit of momentary quiet, although what's going to happen over the next 12 months is anybody's guess.  more...

Gains in overnight real estate rates

By Inman News, Friday, September 21, 2007.

Long-term mortgage interest rates picked up Thursday, and the benchmark 10-year Treasury bond yield climbed to 4.7 percent.

The 30-year fixed-rate average rose to 6.02 percent, and the 15-year fixed rate grew to 5.66 percent. The 1-year adjustable, however, dipped to 5.71 percent.

The 30-year Treasury bond yield was up at 4.97 percent.

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

VFlyer lets agents track return on marketing dollar Premium Content

By Bernice Ross, Friday, September 21, 2007.

(This is Part 2 of a two-part series. Read Part 1, "Opportunity knocks online for Realtors.")

Tired of having to go to a separate vendor for your fliers, your Web site marketing and creating unique Web addresses for your listings? If so, VFlyer.com has a solution to make your business soar.

One of the most difficult aspects of Web 1.0 was how complex it was to integrate the various Web solutions an agent or broker needed.  more...

100 most influential real estate leaders

By Inman News, Friday, September 21, 2007.

Inman News has compiled a list of the 100 most influential people in real estate in 2007, reflecting the industry's best and brightest, as well as outside figures whose actions influence the home buying and selling business. The people on this list embrace leadership, innovation, ingenuity, power and persistence.  more...

How to protect home from winter's fury

By Paul Bianchina, Friday, September 21, 2007.

With fall's transition between the seasons comes a transition for your home as well. That roof and those four sturdy walls need to protect you from winter's fury, and there are several things you can do to help get ready.

1. Seal masonry surfaces: Apply a sealer to concrete driveways and walkways, brick patios and other exterior masonry. The sealer, available from paint stores and masonry supply retailers, prevents water from penetrating into cracks and crevices where it can freeze and cause serious damage.  more...

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