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Feb

8
2008

Inside baseball

By Matt Carter, Friday, February 8, 2008.
Did you know there's an official NAR blog, Voices of Real Estate? Did you know there's a blog called NAR Wisdom, "created out of frustration ... with the NAR"? BloodHoundBlog points to what will undoubtedly be an endless number of...  more...

We're just two ships passing in the night (again)

By Matt Carter, Friday, February 8, 2008.
Goldman Sachs Group, which avoided much of the subprime mortgage morass and posted record profits in 2007, is now looking for opportunities to scoop up securities backed by subprime loans, Dow Jones Newswires reports. Bear Stearns Cos., which posted an...  more...

Real Estate: An Auction Block Party

By Glenn Roberts, Jr., Friday, February 8, 2008.
Live auctions of residential real estate grew 5.3 percent in 2007 to about $16.8 billion, the National Auctioneers Association reported, following a 12.7 percent gain in 2006 to $16 billion. Growth in auctions is a sign of the slowing housing...  more...

Friday fun

By Jessica Swesey, Friday, February 8, 2008.
Wow, it's been quite a few months of serious real estate news in these parts -- some good, most of it bad. Thankfully, some in our online real estate realm have taken the time to lighten up for Friday: Kris...  more...

Anchor Centre sale hits $96 million

By Inman News, Friday, February 8, 2008.

A limited liability company has sold Anchor Centre, a 333,265-square-foot office complex in Phoenix, Ariz., for a price of $96 million.

Located in the Camelback Corridor, the property at 2201 and 2231 E. Camelback Road was constructed in the early 1980s.

Aslan Realty Partners III LLC, a partnership led by California-based Transwestern, purchased the property from 2201 Camelback Associates LLC, a partnership led by Denver-based Alliance Commercial Partners.  more...

Dallas industrial space fills up

By Inman News, Friday, February 8, 2008.

Grubb & Ellis Co. recently brokered more than 104,000 square feet of lease deals in the Dallas, Texas, metro area for undisclosed amounts.

In the first transaction, Panolam Industries International signed a lease for 68,174 square feet of industrial space in Carrollton. The space, owned by Holt Lunsford Commercial, is located at 1135 Crowley.

In the second transaction, Club Car Inc. secured a lease for 24,570 square feet of industrial space in Arlington. The property is located at 525 Great Southwest Parkway and is owned by GSW Properties LLC.  more...

Augusta Ranch retail purchased at $234 a square foot

By Inman News, Friday, February 8, 2008.

Brokerage Marcus & Millichap recently arranged the sale of Augusta Ranch Marketplace, an 80,247-square-foot shopping center in Mesa, Ariz., for a price of $18.7 million.

Paulsen Armp LLC sold the property to TME Augusta Ranch LLC .

Located at the southwest corner of Baseline and Crimson roads, the shopping center consists of four multitenanted retail buildings and one vacant parcel situated on 10.39 acres within the master-planned Augusta Ranch community.  more...

Why bailout may be the only saving grace

By Lou Barnes, Friday, February 8, 2008.

Mortgages struggled to stay as low as 5.75 percent (more below on the stubborn refusal of mortgages to follow the Fed down).  more...

MGIC tightening underwriting standards in 30 markets

By Inman News, Friday, February 8, 2008.

Thousands of borrowers in 22 states will no longer be able to obtain private mortgage insurance from MGIC Investment Corp. after March 3, when the company raises its minimum standards in 30 restricted markets.

The latest changes to MGIC's underwriting standards follow warnings from company executives that they expect a $1.3 billion fourth-quarter loss on Feb. 13, and that MGIC will stay in the red in 2008 as it pays out up to $2 billion in claims (see Inman News story).  more...

Congress OKs stimulus bill, loan limit increase Premium Content

By Matt Carter, Friday, February 8, 2008.

Bush administration officials renewed their calls for Congress to pass legislation tightening oversight of Fannie Mae and Freddie Mac Thursday, as Congress signed off on a plan to allow the companies to guarantee or purchase loans that exceed the $417,000 loan limit.

Senate Democrats on Thursday abandoned an attempt at a broad expansion of a $150 billion economic stimulus bill backed by the Bush administration and approved by the House last month.  more...

Nightly real estate rates up again

By Inman News, Friday, February 8, 2008.

Long-term mortgage interest rates continued higher Thursday, and the benchmark 10-year Treasury bond yield climbed to 3.76 percent.

The 30-year fixed-rate average rose to 5.57 percent, and the 15-year fixed rate gained to 5.04 percent. The 1-year adjustable rate edged up to 5.07 percent.

The 30-year Treasury bond yield was up at 4.51 percent.

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

Agents: Stop dripping and start predicting Premium Content

By Bernice Ross, Friday, February 8, 2008.

Are you ready to jump-start your business? Upgrading your technology is one of the fastest ways to do it. If you need some help, here are some important innovations to consider.

1. Stop dripping and start predicting  more...

High-efficiency furnace offers big payback

By Paul Bianchina, Friday, February 8, 2008.

It's always a tough situation when a major appliance, such as your furnace, decides it's had enough of working for a living and chooses to quit producing any more heat. You have the heating contractor out to examine the situation, and you end up with options to repair the old furnace, replace it with a new one of the same type, or replace it with an upgraded model that is more energy efficient.  more...