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Feb

22
2008

Don't just do something, sit there

By Matt Carter, Friday, February 22, 2008.

Could efforts to prevent foreclosures prolong the housing downturn, or even make it worse?  more...

'Soylent R is people!'

By Glenn Roberts, Jr., Friday, February 22, 2008.

The National Association of Realtors wants you (if you are a Realtor) to add your face to its 100th anniversary mosaics, which are made up of a bunch of tiny Realtor mugs that collectively appear as an image of the...  more...

AMB fully leases SoCal warehouse

By Inman News, Friday, February 22, 2008.

AMB Property Corp., a developer and owner of industrial real estate, this week announced it has leased a 199,000-square-foot facility in Rancho Dominguez, Calif.

The property, named AMB Clipper Distribution Center, is located in Los Angeles' South Bay submarket.

USC Intermodal, a locally based third-party logistics provider, has leased the property to accommodate its expanding presence in the South Bay.

According to a press statement, AMB purchased the building vacant and upgraded it to "modern standards" before leasing.

Large apartment complex sold near Denver

By Inman News, Friday, February 22, 2008.

Brokerage Marcus & Millichap Real Estate Investment Services today announced it has completed the $33.6 million sale of the Brittany Downs Apartments in Thornton, Colo.

The sales price represents $72,468 per unit.

Holland Residential bought the 464-unit multifamily complex from a joint venture between Brittany Apartments LLC and Brittany Phase II Apartments LLC, a New York City-based private investment company.  more...

High-net investor buys at Presidents Court

By Inman News, Friday, February 22, 2008.

Grubb & Ellis Realty Investors LLC this week announced the acquisition of 5202 Presidents Court in Frederick, Md., on behalf of a private investor participating in the Grubb & Ellis Wealth Management program.

The value of the transaction was not disclosed.

The property is a four-story, approximately 233,000-square-foot, institutional-grade office building. Built in 1998 on nearly 24 acres, the property is surrounded by numerous amenities, including the city's largest shopping center, six hotels, a fitness center, and a day-care facility.  more...

Credit crunch fixes? Policymakers need to get on with it

By Lou Barnes, Friday, February 22, 2008.

Long-term mortgage rates are beginning to trickle back down from the peculiar spike of the last two weeks. The lowest-fee mortgages went from 6.375 percent to 6.25 percent; the 10-year T-note went from 3.9 percent to 3.8 percent -- the immense spread is a measure of deepening crunch.  more...

Union opposes reelection of home builder CEO

By Inman News, Friday, February 22, 2008.

A construction union pension fund, a shareholder in home builder Toll Brothers Inc., is asking fellow shareholders to join in withholding votes to reelect the company's chairman and CEO, and to reject his proposed salary bonus plan.

The Laborers' International Union of North America charged that the company has exhibited poor corporate governance practices and that its leaders have failed company shareholders.  more...

Freddie Mac details new fees, loan restrictions

By Inman News, Friday, February 22, 2008.

Freddie Mac announced this week that it's expanding its use of risk-based pricing and increasing fees on mortgages with higher risk, and will discontinue purchases of some higher-risk mortgages altogether.

In a bulletin to sellers and servicers Thursday, Freddie Mac said the changes were a response to "continued deterioration of credit quality and declining home values in most areas of the country."  more...

PMI waiting on FGIC to release Q4 results

By Inman News, Friday, February 22, 2008.

Private mortgage insurer PMI Group Inc. said it will postpone releasing of fourth-quarter and year-end financial results because of delays in financial reporting at another company it owns a large stake in -- troubled bond insurer FGIC Corp.  more...

Real estate rates fall overnight

By Inman News, Friday, February 22, 2008.

Long-term mortgage interest rates came down Thursday, and the benchmark 10-year Treasury bond yield sank to 3.77 percent.

The 30-year fixed-rate average slipped to 5.94 percent, and the 15-year fixed rate decreased to 5.43 percent. The 1-year adjustable rate dipped to 4.9 percent.

The 30-year Treasury bond yield was lower at 4.54 percent.

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

Federal grant will assist unemployed mortgage workers

By Inman News, Friday, February 22, 2008.

California Gov. Arnold Schwarzenegger this week announced the award of $73 million for 40 affordable housing projects in 26 cities in the state and also announced $5.6 million in federal money to train laid-off mortgage and banking industry workers for jobs in other industries.  more...

Single-property Web sites catch sellers' attention Premium Content

By Bernice Ross, Friday, February 22, 2008.

If you're not using what is known as a "single-property Web site," you're missing one of the best tools to increase your Web traffic and convert more listing leads into signed business.  more...

HouseValues reports $9.9 million net loss in Q4

By Inman News, Friday, February 22, 2008.

HouseValues Inc., a company that provides online tools for real estate professionals and real estate search sites for consumers, on Thursday reported a $9.9 million net loss in the fourth quarter compared with a $710,000 net loss in the previous year's quarter.

For the full year in 2007 the company reported a $12.6 million net loss, compared with net income of $3.3 million in 2006.  more...

Energy audit helps save on heating, cooling bills

By Paul Bianchina, Friday, February 22, 2008.

All of us are concerned about our energy bills and are looking for ways to save money, especially during the cold winter months. One of the best places you can start is by having an energy audit done on your home. Energy audits analyze all of the areas of your home where you might be wasting energy -- and, obviously, your hard-earned dollars -- and provide solutions both large and small.  more...