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16
2008

The idiot stock market

By Matt Carter, Wednesday, January 16, 2008.
Remember that day last October, when Countrywide Financial Corp. reported a $1.2 billion third quarter loss and the company's stock shot up 30 percent (see "Pop the champagne! We only lost $1.2 billion")? Investors were expecting worse, and they took...  more...

50 Tools and Technologies to Help You

By Joel Burslem, Wednesday, January 16, 2008.
Thanks to everyone who joined us last week at Real Estate Connect NYC 2008. I hope it was as interesting and fun for you as it was for all of us. One of the most popular presentations from the conference...  more...

Real estate Web traffic increasing

By Jessica Swesey, Wednesday, January 16, 2008.
Trulia on Tuesday scored a win in announcing it broke into the comScore top 10 most-visited real estate sites. The company pulled ahead of Zillow in terms of unique visitors and Trulia's unique visitors nearly tripled over the last 12...  more...

Nothing lasts forever Premium Content

By Marc Davison, Wednesday, January 16, 2008.

Sometimes, during the course of the here and now, we transcend forward in thought. We take what is and ponder what could be. We're taught this is how to fashion our future.

Sometimes, the stress of the present or the fear of the future forces some to go in a different direction -- to their place of comfort, where it's safe -- where they're reminded of who they are in the face of losing themselves in the swirl of the moment.  more...

Citigroup losses, retail sales spook investors

By Inman News, Wednesday, January 16, 2008.

An $18.1 billion write-down on investments tied to subprime mortgages at Citigroup Inc. and a report showing a slowdown in retail sales in December prompted a broad sell-off in the stock market Tuesday, with real estate and financial stocks among the hardest hit.

The Dow Jones Industrial Average fell 277 points, or more than 2 percent.  more...

More tips on where to find best contractors

By Bill and Kevin Burnett, Wednesday, January 16, 2008.

Recently, we offered some suggestions to a reader in Vallejo, Calif., who could only be described as discouraged.

She was searching for a contractor to do some work at her home and was unable to get anyone to even look at work she needed done, much less do it. We offered our suggestions and at the end of the column asked readers to weigh in with their suggestions.  more...

What women want in a second home

By Tom Kelly, Wednesday, January 16, 2008.

While watching a lopsided college basketball game on television four days after Christmas, I began searching the Internet for creative recreational-property house plans.  more...

Letters to the Editor

By Inman News, Wednesday, January 16, 2008.

Re: 'Here's how I'd handle dual agency ...' (Jan. 15)

Dear Editor:

I enjoyed Tim Westhoven's response to the article, "Time to let go of old thinking."

As a qualifying broker, I will not allow any of our brokers to act as a dual agent. Indeed, we do not do agency at all in our office since New Mexico allows for a transaction broker.  more...

Chase, Wells Fargo say they can weather subprime storm Premium Content

By Inman News, Wednesday, January 16, 2008.

Investors showed renewed confidence that financial markets will weather the subprime mortgage crisis after JPMorgan Chase & Co. and Wells Fargo & Co. reported write-downs on mortgage-related investments dented fourth-quarter profits but that the firms remain adequately capitalized.

Standard & Poor's Ratings Service, however, said home-price declines and losses on subprime loans made in 2006 will be greater than expected, raising the specter of further tightening of credit to prospective home buyers.  more...

Williams-Sonoma secures SoCal space

By Inman News, Wednesday, January 16, 2008.

Nationwide specialty retailer Williams-Sonoma Inc. signed a long-term lease for 1.18 million square feet of warehouse and distribution space in the City of Industry, Calif., property owner Majestic Realty Co. announced Monday.

Majestic said the retailer's lease term is for 10 years at its 400-acre Grand Crossing industrial park. Williams-Sonoma recently took occupancy of the 950,000-square-foot Building 22 and will take 230,000 square feet in Building 23 beginning in February.  more...

Washington retail sale tops $32M

By Inman News, Wednesday, January 16, 2008.

A large shopping mall in central Washington state recently sold to a limited liability company for a price of $32.5 million.

Los Angeles-based Vintage Capital Group LLC purchased Wenatchee Valley Mall from Irvine, Calif.-based PASSCO.

Located in the city of East Wenatchee at 511 Valley Mall Parkway, the 339,725-square-foot mall is anchored by Macy's (who is on a ground lease), Sears, Bed Bath & Beyond and Ross Dress for Less. The property was constructed in several phases: 1972, 1978, 2000 and 2003.  more...

Joint venture formed for Texas purchase

By Inman News, Wednesday, January 16, 2008.

A recently formed joint venture purchased the Fountains on the Lake retail center in Stafford, Texas, for an undisclosed price.

California-based Pacific Coast Capital Partners LLC and Dallas-based Dunhill Partners teamed up to buy the 589,201-square-foot complex from New York-based Kimco Realty Corp.  more...

Builder confidence rises slightly in January

By Inman News, Wednesday, January 16, 2008.

A gauge of builder confidence in the housing market edged up in January compared to the previous month but was well below its level in January 2006, the National Association of Home Builders and Wells Fargo reported today.

The Housing Market Index, which is based on a survey of present market conditions, traffic of prospective buyers, and expectations for sales in the next six months, rose from 18 in December to 19 in January but was down from 35 in January 2006.

An index score  more...

Home loan apps jump 28%

By Inman News, Wednesday, January 16, 2008.

Mortgage application volume during the second week of January posted a huge increase as interest rates continued to decline, the Mortgage Bankers Association reported today.

The group's market composite index, a measure of home loan application volume, climbed 28.4 percent on a seasonally adjusted basis between the first and second weeks of January.  more...

IndyMac Bancorp announces 2,400 layoffs

By Inman News, Wednesday, January 16, 2008.

IndyMac Bancorp Inc. said Tuesday it would cut 24 percent of its staff -- some 2,403 workers -- and forecast that 2008 loan volume will fall to $43 billion, or less than half the business the alt-A lender did two years ago.

IndyMac said it will close regional wholesale mortgage centers in Tampa, Philadelphia, Boston, Columbia (S.C.) and Kansas City (Mo.) by the end of the quarter, consolidating their operations into 11 other regional centers around the country.  more...

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