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Feb

28
2008

Inman.com Gets a Facelift

By Joel Burslem, Thursday, February 28, 2008.

OK, so we've taken some shots over the years for our old web site. And there's no doubt it was time for a makeover. So, in addition to a new logo and some exciting new benefits for our valued Members,...  more...

Inman.com Gets a Facelift

By Joel Burslem, Thursday, February 28, 2008.

OK, so we've taken some shots over the years for our old web site. And there's no doubt it was time for a makeover. So, in addition to a new logo and some exciting new benefits for our valued Members,...  more...

No cramming down bankruptcy cram downs

By Matt Carter, Thursday, February 28, 2008.

The Senate voted this evening NOT to bring the Foreclosure Prevention Act of 2008 to the floor for a vote. This is the bill that includes provisions to allow bankruptcy judges to modify the mortgages of troubled borrowers to help...  more...

No cramming down bankruptcy cram downs

By Matt Carter, Thursday, February 28, 2008.

The Senate voted this evening NOT to bring the Foreclosure Prevention Act of 2008 to the floor for a vote. This is the bill that includes provisions to allow bankruptcy judges to modify the mortgages of troubled borrowers to help...  more...

Simmer down now!

By Matt Carter, Thursday, February 28, 2008.

The Bush administration is staying on message today as it tries to put a lid on suggestions that the government take a more radical (and costly) approach to propping up housing markets. The White House is rejecting such plans as...  more...

Q4 loss puts First American in the red for 2007

By Inman News, Thursday, February 28, 2008.

First American Corp. said it lost $67.5 million and laid off 1,100 employees during the fourth quarter, as the company boosted loss reserves by $122.3 million against higher expected claims.

The Santa Ana, Calif.-based title insurer and real estate information provider said it expects to lay off more workers and consolidate offices to cut costs as the credit crunch continues to weigh on real estate and mortgage markets.  more...

Chicago-area industrial sale tops $100M

By Inman News, Thursday, February 28, 2008.

A joint venture between Panattoni Development Co. and LaSalle Investment Management sold a 1.93-million-square-foot industrial portfolio for a price of more than $100 million.

The four buildings involved are located outside Chicago in the Windham Lakes Southwest Business Park in Romeoville, Ill., in what is said to be the largest transaction in the I-55 Corridor industrial submarket in the past 10 years.  more...

Petroleum company completes Houston expansion

By Inman News, Thursday, February 28, 2008.

BHP Billiton Petroleum has expanded and renewed its lease at Four Oaks Place in Houston, Texas, for an undisclosed price.

The oil and gas exploration company expanded its lease by 103,000 square feet and will now occupy space totaling 444,145 square feet in both the BHP Tower (1360 Post Oak Blvd.) and Central Tower (1330 Post Oak Blvd.).

Owned by TIAA-CREF, Four Oaks Place is a four-building, class A office complex totaling 1.8 million square feet located at the northern end of Post Oak Boulevard in Houston's Uptown Galleria submarket.  more...

Bixby Land Co. buys SoCal industrial space

By Inman News, Thursday, February 28, 2008.

Bixby Land Co. has acquired a 114,500-square-foot industrial distribution facility in Tustin, Calif., for $18.5 million, the company recently announced.

The property, located at 1111 Bell Ave., represents the 12th acquisition in Bixby's core industrial portfolio in the past 18 months, bringing its total value to more than $300 million.  more...

Freddie Mac sees credit losses quadrupling in 2008 Premium Content

By Matt Carter, Thursday, February 28, 2008.

Freddie Mac lost $2.5 billion in the fourth quarter, forcing the company to cut dividends by 50 percent, issue $6 billion in preferred stock, and reduce the size of its loan portfolio to meet regulatory capital requirements.  more...

Homescape expands real estate network

By Inman News, Thursday, February 28, 2008.

Homescape, an online real estate search and information site operated under a joint venture formed by five media companies, announced today that several Northern California newspapers are joining its real estate network.

The expansion follows an announcement earlier this month of a marketing agreement that will bring about 700,000 property listings associated with the real estate brands of brokerage and franchise giant Realogy to Homescape.  more...

Mortgage rate gains erase months of declines

By Inman News, Thursday, February 28, 2008.

Mortgage rates were up again this week, Freddie Mac reported today, as concerns about inflation and continued turmoil in credit markets stoked the fire under long-term interest rates.

The average rate on 30-year fixed-rate mortgages jumped to 6.24 percent this week from 6.04 percent a week ago, and the average 15-year fixed mortgage gained from 5.64 percent to 5.72 percent.  more...

Economist: 'Labor market could grind to a halt'

By Inman News, Thursday, February 28, 2008.

A key economic indicator measuring the volume of job ads in major U.S. newspapers dipped one point in January, erasing hope that labor markets will improve anytime soon, The Conference Board reported today.

The Conference Board's Help-Wanted Advertising Index fell to 21 last month from 22 in December, as just 41 percent of labor markets surveyed in January reported rising want-ad volume, down from 59 percent in December.  more...

Real estate rates slip overnight

By Inman News, Thursday, February 28, 2008.

Long-term mortgage interest rates came down Wednesday, and the benchmark 10-year Treasury bond yield was down at 3.85 percent.

The 30-year fixed-rate average fell to 6.05 percent, and the 15-year fixed rate declined to 5.48 percent. The 1-year adjustable rate dipped to 4.87 percent.

The 30-year Treasury bond yield sank to 4.65 percent.

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

NAHB: Economy may be headed for 'red zone' Premium Content

By Inman News, Thursday, February 28, 2008.

The chief economist for the National Association of Home Builders, in his latest annual forecast, said he expects total housing starts to fall 25 percent this year, with single-family starts plummeting 31 percent.

"We still expect starts to begin edging up in the final quarter of this year, but we've also trimmed the outlook for 2009," Seiders stated in a forecast report released this week.  more...

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