Home

Mar

10
2008

Heard the good news?

By Matt Carter, Monday, March 10, 2008.

Although you don't hear many folks blaming the news media for the housing downturn anymore, the marketing department at Beazer Homes is hoping newsies will help turn things around -- by printing articles "written [for Beazer] by seasoned journalists in AP style."

Beazer's "SmartNews Bureau" promises editors, reporters and print publications "copyright-free content to fit their editorial needs."  more...

Real estate rates end climb

By Inman News, Monday, March 10, 2008.

Long-term mortgage interest rates posted more gains Friday, and the
benchmark 10-year Treasury bond yield was down at 3.53 percent.

The 30-year fixed-rate average slipped to 6.09 percent, and the
15-year fixed rate fell to 5.49 percent. The 1-year adjustable rate decreased to 4.69 percent.

The 30-year Treasury bond yield decreased to 4.54 percent.

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

Two Illinois bank buildings change hands

By Inman News, Monday, March 10, 2008.

Grubb & Ellis Realty Investors LLC has acquired a two-building portfolio in Carpentersville and Northlake, Ill., on behalf of a private investor participating in the Grubb & Ellis Wealth Management program.

The value of the acquisition was not disclosed.

Both properties are 100 percent leased to JPMorgan Chase.  more...

Farewell, 'George Fox'

By Matt Carter, Monday, March 10, 2008.

Will you be remembered as a friend of consumers, or the sworn enemy of mortgage lenders and title insurers? Will bond insurers sink or swim without your interest (or interference) in their affairs?  more...

Wesco Properties buys Dallas apartments

By Inman News, Monday, March 10, 2008.

Wesco Properties has announced the acquisition and rehabilitation of Country Club Apartments in Dallas.

The value of the acquisition was not disclosed.

The 9.71-acre site is located in Mesquite, close to the Dallas Fort Worth Airport and Garland, with easy access to I-635 and I-30.  more...

Margin calls threaten Thornburg, Carlyle Capital Premium Content

By Matt Carter, Monday, March 10, 2008.

Margin calls from creditors are once again threatening the existence of alt-A lender Thornburg Mortgage Inc., and a highly leveraged private equity fund, Carlyle Capital, is in similar straights as it faces margin calls from creditors worried about the declining value of the fund’s investments in highly-rated mortgage backed securities backed by Fannie Mae and Freddie Mac.

The problems at Thornburg and Carlyle are the latest examples of how fears about declining home prices and rising delinquencies and foreclosures are affecting credit markets.  more...

Hold the chicken, bring me the toast

By Matt Carter, Monday, March 10, 2008.

As if meeting their OFHEO-directed 30 percent additional capital requirements wasn't enough of a hassle, Fannie Mae was the subject of a Barron's cover story over the weekend suggesting the company may require a government bailout if housing markets get much worse. Note that Barron's is not alone in suggesting such a scenario. William Poole, president of the Federal Reserve Bank of St. Louis, recently made the same observation.  more...

Miller Samuel parts ways with Radar Logic

By Glenn Roberts Jr., Monday, March 10, 2008.

New York appraisal and consulting firm Radar Logic Inc., a real estate data and analytics company.

In September, both companies announced that Radar Logic had reached an agreement to acquire Miller Samuel Inc. The companies had formed Radar Logic LLC in April to collaborate in research and consulting.  more...

RE/MAX climbs to second place among real estate Web sites Premium Content

By Inman News, Monday, March 10, 2008.

RE/MAX Real Estate's remax.com Web site hopped into second place among the most popular real estate industry Web sites in February, up from its fourth-place ranking in January, Web metrics company Hitwise reported Friday, and real estate marketing company HomeGain bumped from second place in January to fifth place in February.  more...

More home sellers stuck paying buyer's closing costs

By Jack Guttentag, Monday, March 10, 2008.

"The market is not doing well here and we agreed to pay up to $8,000 of the buyer's closing costs. Is there anything I can do to keep the amount as far below $8,000 as possible?"  more...

Change yourself first; customers will follow Premium Content

By Alison Rogers, Monday, March 10, 2008.

I met Alice Heiman, as I have done so many serendipitous things, online. (Longtime readers of this column will know that's how I met my husband.) A sales coach -- whose background is in sales training, so she has "trained the trainers" -- she is based in Reno, Nev., where she offers some of the best advice for salespeople I have ever seen.  more...

HOA wrong to deny window replacement

By Benny Kass, Monday, March 10, 2008.

DEAR BENNY: We live in a condo and during a recent heavy rainstorm one of the windows leaked with water rushing in around the frame. The water damaged our wood floor in front of the window. I contacted the association's management company and was told either to repair the window or replace it.

Another resident in the building -- who happens to be on the board of directors -- has a similar leak. He told me that was not right and that he would speak with the management company.  more...

How accurate is a CMA?

By Dian Hymer, Monday, March 10, 2008.

Homeowners preparing to sell their home usually call a real estate agent, or sometimes several, to make a presentation. Sellers should consider an agent's professional qualifications, recommendations and marketing plan. But, what sellers are most interested in knowing is: What's it worth?  more...