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Jan

23
2008

Roost jumps into real estate search scene

By Jessica Swesey, Wednesday, January 23, 2008.
A new real estate search site rivaling the likes of Realtor.com, Trulia and Zillow, has pounced on the scene. Roost.com launched its public beta today. The site appears to mirror Trulia in the way that property listings search results show...  more...

Real Estate Bloggers Connect: Blogger footage

By Jessica Swesey, Wednesday, January 23, 2008.
Here's a video shot and edited by Daniel Rothamel, aka The Real Estate Zebra, who works as an agent with Strong Team Realtors in Virginia. Rothamel was one of a handful of bloggers given flip video cameras during Real Estate...  more...

Can my house sustain an attic remodel?

By Bill and Kevin Burnett, Wednesday, January 23, 2008.

Q: I am thinking of finishing off my attic and I am curious if interior remodels can overstress a house frame.

I assume it would be lighter to use paneling, but what about drywall? How much do those 4-by-8 sheets weigh? What about the weight of rolled insulation on the ceiling? I have a plaster interior and am not sure how well it can take weight stresses. How do you know if you must reinforce sections of the frame?  more...

HouseValues losing 45 workers, CFO

By Inman News, Wednesday, January 23, 2008.

HouseValues Inc. laid off 45 employees Wednesday, and Chief Financial Officer R. Barry Allen will resign, the online real estate marketing and lead-generation company said.

The announcement comes on the heels of HouseValues' decision to invest $2.75 million in the real estate social networking site AcitveRain (see Inman News story).  more...

Fashion designer relocates New Jersey space

By Inman News, Wednesday, January 23, 2008.

Maggy London International Ltd., the well-known women's upscale fashion designer, has leased 111,870 square feet at 55 Madison Circle Drive in East Rutherford, N.J., brokerage Cushman & Wakefield announced today.

The company, which signed a multiyear lease, will relocate its New Jersey Meadowlands warehouse and distribution operation to the property from nearby Carlstadt in an expansion move.

The property, owned by AMB Property Corp., comprises 150,000 square feet.  more...

Schwarzenegger joins push to raise conforming loan limit Premium Content

By Matt Carter, Wednesday, January 23, 2008.

Breaking with the Bush administration's position, California Gov. Arnold Schwarzenegger has added his voice to the chorus clamoring for an increase in the $417,000 conforming loan limit, the ceiling for mortgages eligible for purchase or guarantee by Fannie Mae and Freddie Mac.  more...

Royal Caribbean building sold, tenant to stay put

By Inman News, Wednesday, January 23, 2008.

The owner of a 49,650-square-foot office building occupied by Royal Caribbean Cruise Lines has sold the property to an unidentified buyer for $14 million.

A joint venture between Falcon Real Estate Investment Co. LP and a Kuwaiti-based investor unloaded the property after nearly five years' ownership. The two-building property, located in Miramar, Fla., is situated on 8.2 acres, offers an open floor plan that is conducive to call center operations, and includes an employee cafeteria.  more...

ABR, Sydney seal Iowa industrial purchase

By Inman News, Wednesday, January 23, 2008.

A joint venture between Alex. Brown Realty Inc. and Sydney Partners LLC has acquired the Merchants Distribution Plaza Industrial Park in Des Moines, Iowa, for an undisclosed amount.

ABR Chesapeake Fund III, a value-added real estate investment fund sponsored by ABR, provided an equity commitment of $1.6 million to the venture.  more...

Refi applications climb 16.9%

By Inman News, Wednesday, January 23, 2008.

Applications for home loan refinancings jumped by double digits last week as interest rates continued to fall, the Mortgage Bankers Association reported today.

The group's market composite index, a measure of home loan application volume, got an 8.3 percent boost last week on a seasonally adjusted basis from the second week of January as refinance applications climbed 16.9 percent during the period. Filings for purchase loans, however, fell 4.6 percent, MBA reported.  more...

MGIC expects $1.3 billion Q4 loss

By Inman News, Wednesday, January 23, 2008.

Mortgage insurer MGIC Investment Corp. expects fourth-quarter losses to hit $1.3 billion and that the company will stay in the red this year as it pays out up to $2 billion in claims, up from a previous estimate of up to $1.5 billion.

MGIC said its year-end inventory of delinquent loans rose by nearly 18 percent from the end of the third quarter, to 107,120 loans.  more...

Real estate rates fall overnight

By Inman News, Wednesday, January 23, 2008.

Long-term mortgage interest rates dropped Tuesday, and the benchmark 10-year Treasury bond yield tumbled to 3.44 percent.

The 30-year fixed-rate average sank to 5.31 percent, and the 15-year fixed rate fell to 4.82 percent. The 1-year adjustable rate dipped to 5.25 percent.

The 30-year Treasury bond yield was down to 4.2 percent.

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

Title insurance reform on hold in New Mexico

By Inman News, Wednesday, January 23, 2008.

New Mexico lawmakers will have to wait a year before tinkering with the state's uniform title insurance rate regulations, with Gov. Bill Richardson saying the issue is too complex for legislators to tackle in their lone 30-day meeting session this year.

New Mexico's unpaid "citizen-legislators" meet for just 30 days in even numbered years, and can debate only budget and tax issues or legislation the governor places on the agenda.  more...

Redfin real estate blog moves east

By Inman News, Wednesday, January 23, 2008.

Seattle-based real estate brokerage company Redfin has expanded its Sweet Digs real estate blog network to the East Coast with the launch of Sweet Digs in Greater Boston and the Washington, D.C., metropolitan area.  more...

U.S. real estate a 'bargain' for foreign buyers

By Tom Kelly, Wednesday, January 23, 2008.

Two years ago, while attending a home-builder convention in Orlando, Fla., a top-producing local real estate agent was bubbling over the interior design features of a vacation home.

"All of my international buyers are just going to love this," the agent said. "I can't wait to tell them what's now available."

I was intrigued. How many international buyers did she have?  more...