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When media coverage, industry interests clash Premium Content

By Glenn Roberts Jr., Thursday, March 20, 2008.

A national real estate article published in a community newspaper in Elizabethtown, Ky., caught the eye and ire of several local real estate professionals, and brought home an age-old conflict between news coverage and industry interests.

The headline of the article, authored by Claes Bell, questioned, "Is this a good time to buy a home?"

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Faulty dip tube linked to cold showers

By Paul Bianchina, Thursday, March 20, 2008.

The dip tube -- it has an odd sounding name, and many people aren't aware of its existence in their water heater. But if you've been getting less hot water than you'd like, this little guy could possibly be the culprit.  more...

Top questions to ask sellers at listing appointment Premium Content

By Bernice Ross, Thursday, March 20, 2008.

(This is Part 1 of a three-part series.)

Are you talking too much and closing too little? A simple shift in your strategy can yield huge returns for years to come.  more...

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I said, are you talkin' about me?

By Matt Carter, Thursday, March 20, 2008.

If you're a real estate professional who blogs, you may find yourself becoming known as an expert in your field. Once that happens, you can probably expect to start getting calls from the news media -- local or national.  more...

'Mortgage elimination' schemers get prison time

By Glenn Roberts Jr., Thursday, March 20, 2008.

An elaborate and bizarre financial fraud scheme that seeded online message boards and Web sites with information about a program that could purportedly erase home owners' mortgage debt has resulted in the setencing of its two founders.

The Associated Press reported today that Kurt Johnson, 45, of Sunnyvale, Calif., was sentenced to 25 years in prison and Dale Heineman, 48, of Union City, Calif., was sentenced to about 22 years in prison on multiple counts of fraud and conspiracy to commit fraud for their role in the Dorean Group.  more...

Few commercial, multifamily loans exposed to refinance risks

By Inman News, Thursday, March 20, 2008.

The commercial and multifamily mortgage market faces limited exposure to refinance risks stemming from the current credit crunch, as relatively few commercial/multifamily loans will mature in the next two years, the Mortgage Bankers Association reported today.  more...

Hines REIT gains 550,000 square feet

By Inman News, Thursday, March 20, 2008.

Hines REIT has purchased a two-building office complex in El Segundo, Calif., for an undisclosed price.

Sold by Newkirk Segair LP, the complex comprises two 11-story, class A office buildings situated on a 6.1-acre site. Totaling 550,579 square feet, the buildings include two levels of office space on top of the 10-story parking garage.

The buildings were completed in 1976.  more...

William Blair signs lease for new headquarters

By Inman News, Thursday, March 20, 2008.

William Blair & Co. will occupy more than 340,000 square feet in downtown Chicago once the River Point office tower is completed, a press statement announced.

William Blair CEO John R. Ettelson recently signed a lease to relocate the investment firm's headquarters to the 52-story, 1.1-million-square-foot building, which is expected to be completed by mid-2011.  more...

First Barbie, now Bernanke

By Jessica Swesey, Thursday, March 20, 2008.

The housing downturn has once again proven there is no stone unturned, no one above being impacted by this mess. (OK, well if you're not planning to sell for a decade or two, paid all cash for your house and bought in the '90s you might be safe.)

Bloomberg news digs up the scoop on the value of Federal Reserve Chairman Ben Bernanke's Capitol Hill home, which he bought in May 2004 for $839,000. Almost four years later, Bernanke's home "may not be worth anymore," according to local agents and real estate records.

From Bloomberg:  more...

Mind if I look in the trunk, sir?

By Matt Carter, Thursday, March 20, 2008.

Remember Alliance Title, the company that grew from 25 employeees to 2,000 in nine years and then abruptly closed its doors in December?

This is apparently just a formality, but the California Department of Insurance is holding a hearing today on the "Cease and Desist" order it filed against the company Feb. 21. According to the order, the company's net worth was NEGATIVE $50.6 million as of Nov. 30, and Alliance Title had a working capital deficit of $22.1 million.  more...

Realogy reports loss, declining revenues in 2007 Premium Content

By Glenn Roberts Jr., Thursday, March 20, 2008.

Real estate brokerage and franchise company Realogy Corp. reported a $797 million net loss in 2007 for the period since its April 10 acquisition by an affiliate of private equity firm Apollo Management LP.

The company also reported a $44 million net loss for the period from Jan. 1, 2007, through April 9, 2007. That compares with net income of $365 million in 2006 and net income of $627 million in 2005.  more...

Economic outlook down on jobs, housing

By Inman News, Thursday, March 20, 2008.

Rising jobless claims and slumping home construction soured the economic outlook in February, as The Conference Board reported today that its U.S. leading index fell for the fifth straight month.  more...

Is the end in sight?

By Matt Carter, Thursday, March 20, 2008.

Or, to paraphrase Winston Churchill, is this just the end of the beginning?

All the talk of losses at mortgage repurchasers Fannie Mae and Freddie Mac leading to a government bailout is pretty much out the window today, at least among Wall Street investors, who have sent the company's stocks rebounding from recent 52-week lows.

Fannie Mae, which hit a 52-week low of $18.52 on Monday has nearly doubled in value since then, breaking through the $35 mark as I write.  more...

Mortgage rates drop sharply this week

By Inman News, Thursday, March 20, 2008.

Long-term mortgage rates tumbled this week after the Fed cut a key short-term interest rate and on news that inflation in February was weaker than expected, Freddie Mac reported today.

The average rate on 30-year fixed mortgages dropped to 5.87 percent from last week's 6.13 percent, and the average 15-year fixed rate plunged to 5.27 percent from 5.6 percent.

To qualify for these rates, borrowers must pay points, or fees that lenders charge for loan processing expressed as a percent of the loan, which this week averaged 0.5 on the 30- and 15-year loans.  more...

Nightly real estate rates mixed

By Inman News, Thursday, March 20, 2008.

Long-term mortgage interest rates ended Wednesday mixed, and the benchmark 10-year Treasury bond yield dropped to 3.34 percent.

The 30-year fixed-rate average held steady at 5.66 percent, while the 15-year fixed rate gained to 5.09 percent. The 1-year adjustable rate rose to 5.42 percent.

The 30-year Treasury bond yield slipped to 4.21 percent.

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

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