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6
2007

Walk or stay?

By Matt Carter, Thursday, September 6, 2007.
In releasing the latest delinquency and foreclosure numbers today, the Mortgage Bankers Association placed much of the blame for the record rate of loans entering foreclosure nationwide on four states: California, Florida, Nevada and Arizona. Those states have more than...  more...

Prostitution, Craigslist and Internet Freedom

By Glenn Roberts, Jr., Thursday, September 6, 2007.
A New York Times article this week details a law enforcement crackdown on prostitution ads posted on popular Internet community site craigslist.org. Where's the real estate connection here? (Hopefully it's indirect.) It's another discussion about online liability, and the potential...  more...

Volkswagen relocates U.S. headquarters

By Inman News, Thursday, September 6, 2007.

Tishman Speyer today announced it has leased its recently completed Woodland Pointe office property to Volkswagen of America. The property, located in Herndon, Va., will serve as the company's headquarters, which is currently located in Auburn HIlls, Mich.

The value of the transaction was not disclosed.

Woodland Pointe is a six-story, 184,000-square-foot office building located at the Woodland Park business complex.  more...

Sage Building fetches $725 a square foot

By Inman News, Thursday, September 6, 2007.

A family trust recently sold a 20,000-square-foot office and retail building in Cambridge, Mass., for $14.5 million.

Sage Family Trust unloaded the property -- 45 Brattle St./66 Church St. -- on an entity controlled by Trinity Properties.

Built in 1929, the Sage Building once housed the Sage Market, a popular Harvard Square grocer. In 2001, the building underwent extensive renovation and was converted into a mixed-use office and retail property. The two-story property is located on the corner of Brattle and Church streets and rests on a 10,175-square-foot lot.  more...

Big California warehouse, small price

By Inman News, Thursday, September 6, 2007.

A limited liability company has sold a 102,842-square-foot industrial property in San Luis Obispo, Calif., for approximately $6.3 million.

Suburban Partners LLC sold the property to Sports Warehouse Properties LLC, which is consolidating its retail and distribution facilities into one central location.

The building is located at 181 Suburban Road and "contains mezzanine storage, racking and conveyor systems" for the buyer to "utilize in its operations," according to a press statement.

Mortgage lenders send 3,050 workers packing

By Inman News, Thursday, September 6, 2007.

National City Corp., Countrywide and Lehman Brothers announced more than 3,000 layoffs today and Wednesday, as mounting losses in mortgage lending force companies to cut costs.  more...

Loans enter foreclosure process at record pace in Q2 Premium Content

By Matt Carter, Thursday, September 6, 2007.

The rate of mortgage loans entering the foreclosure process during the second quarter broke a new record, the Mortgage Bankers Association said Thursday, and the worst may be yet to come.

The rate of loans entering the foreclosure process hit a record 0.65 percent, compared with 0.58 percent during the previous quarter and .43 percent during the second quarter of 2006.  more...

Move Inc. enters content deal with Bankrate

By Inman News, Thursday, September 6, 2007.

Move Inc. has signed an agreement with Bankrate Inc. to push mortgage resources out to its large online audience, including a directory of mortgage brokers and updated mortgage and home equity rate data.  more...

Iggys House seeks IPO Premium Content

By Glenn Roberts Jr., Thursday, September 6, 2007.

Managers for Chicago-based Iggys House Inc., a company that offers free multiple listing service exposure for home sellers and deep discounts for buyers through its BuySide Realty subsidiary, are planning to take the business public.

In a report filed last month with the U.S.  more...

Mortgage rates up slightly this week

By Inman News, Thursday, September 6, 2007.

Long-term mortgage rates inched up this week, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the rate on 30-year fixed mortgages grew to an average 6.46 percent from 6.45 percent a week ago, and the 15-year fixed rose to 6.15 percent from 6.12 percent.  more...

Farmers Insurance to pay $3.4 million in fines, refunds

By Inman News, Thursday, September 6, 2007.

Farmers Insurance Group has agreed to refund $1.4 million in homeowners insurance premiums and pay $2 million in fines to settle allegations by California regulators that the company overcharged more than 5,000 customers and arbitrarily refused to renew others' policies.

In complaints dating back to 2003, the California Department of Insurance claimed Farmers overcharged 5,237 policyholders by automatically classifying their homes as being at a higher risk for fire when it lacked data on the nearest fire-hydrant location.  more...

Real estate rates down overnight

By Inman News, Thursday, September 6, 2007.

Long-term mortgage interest rates were lower Wednesday, and the benchmark 10-year Treasury bond yield sank to 4.47 percent.

The 30-year fixed-rate average dropped to 6.1 percent, and the 15-year fixed rate slipped to 5.78 percent. The 1-year adjustable was down at 6.01 percent.

The 30-year Treasury bond yield was down at 4.78 percent.

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

Renting apartment could lead to identity theft

By Janet Portman, Thursday, September 6, 2007.

Q: I'm applying for an apartment, and the application asks for all sorts of personal information -- my Social Security number, bank account information and employment history. The landlord will also have my credit report. All of this information could easily be used to steal my identity. What recourse do I have to this risky situation? --Cindy A.

A: Careful landlords everywhere ask for this information, and there's no law against it. From their point of view, they're taking a big risk in handing over a very valuable item (their property) to a stranger.  more...

InmanTV: Real estate and mapping technology

By Inman News, Thursday, September 6, 2007.
Real Estate Video by - Real Estate Blogger

Chris Pendleton is the technical evangelist for Microsoft Virtual  more...

Lease-options perfect for today's home sellers

By Tom Kelly, Thursday, September 6, 2007.

The subprime fallout has made the once-slam-dunk home loans more difficult to obtain. While some neighborhoods continue to be very active, other areas have slowed considerably.  more...

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