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Can landlord refuse to rent to ex-convicts?

By Robert Griswold, Wednesday, March 26, 2008.

Question: We have several multifamily units with moderate turnover and we run a full credit check on everyone wishing to apply. Sometimes we get applicants where their income and basic credit info is marginal, but they do meet our minimum economic rental criteria so we go ahead and rent to them. We are now seeing that some of these applicants that meet our minimum requirements also have served time for convictions for violent crime, drugs or something pretty serious.  more...

Home sellers keep profits, avoid taxes

By Benny Kass, Wednesday, March 26, 2008.

(This is Part 4 of a five-part series.)

"The taxpayer: that's someone who works for the federal government but doesn't have to take a civil service examination." --Ronald Reagan

Q: How can I make a profit of $500,000 and not have to pay a penny in capital gains tax?

A: Buy a house with your spouse, live in it for at least two years, and file a joint return. Of course, the house has to increase significantly in value.  more...

Raising rent on advertised unit a risky move

By Janet Portman, Wednesday, March 26, 2008.

Q: I've taken over the management of my family's small apartment building and recently spoke with someone who answered my ad for a vacant unit. After talking with other owners nearby, I realized that I had set the rent $200 below market. We haven't signed a lease yet, and I'm wondering if I can correct my mistake. --Tim A.  more...

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2008

Packaging is dead! Long live packaging!

By Matt Carter, Wednesday, March 26, 2008.

I've been talking to some folks in the real estate industry about HUD's new RESPA reform proposal for an upcoming special report, and what I'm hearing are concerns that while this may be "RESPA light" with a focus on improved disclosures, there are some incentives for packaging that, the more people look at them, the more they are reminded of the rule change HUD tried and failed to push through nearly six years ago.

(This post is continued in the comments section).

Your home is my dogfighting arena

By Glenn Roberts Jr., Wednesday, March 26, 2008.

A Reuters news report details how some cities are grappling with the growing problem of vacant and abandoned homes -- a blighting side effect of the housing market downturn and rise in foreclosures.  more...

Real estate rebates and referrals with a twist Premium Content

By Glenn Roberts Jr., Wednesday, March 26, 2008.

EPerks, a company that launched last year that seeks to build a consumer audience and a pool of subscribing real estate professionals during a challenging time in the U.S. real estate market, combines real estate lead generation, referrals, rebates, agent profiles and reviews, and map-based searches into one portal.

The Pleasanton, Calif.-based company has already stirred up controversy and riled some industry professionals for a pay-per-review marketing campaign and legal threats against a blogger.  more...

Texas office building sells at $17.7M

By Inman News, Wednesday, March 26, 2008.

CB Richard Ellis Realty Trust recently announced its purchase of Lakeside Office Center in Lewisville, Texas, for $17.7 million.

An unidentified entity sold the 98,750-square-foot office building, which is located at 2850 Lake Vista Drive. Completed in August 2006, the pre-cast and steel facility is situated within Lewisville's master-planned Vista Ridge Business Park.

The building offers 32,916-square-foot floor plates with 10-foot ceilings and a parking ratio of 5.37 per 1,000 square feet of rentable area.  more...

Marcus & Millichap brokers Covington Plaza sale

By Inman News, Wednesday, March 26, 2008.

Covington Plaza, a large shopping center in Fort Wayne, Ind., has sold to an investor for $21 million, brokerage Marcus & Millichap announced this week.

Lamar Cos. bought the asset from an unidentified private investor at a price that represents $106 per square foot.

Located at 6400 West Jefferson Blvd., the shopping center consists of two buildings situated on a 28.2-acre lot in close proximity to Jefferson Pointe, a new lifestyle center with more than 50 restaurants and specialty shops.  more...

Laramar Group acquires 543 units

By Inman News, Wednesday, March 26, 2008.

The Laramar Group today announced its Multi-Family Value Fund has purchased a 543-unit apartment complex in Burien, Wash., for an undisclosed price.

The property, Vintage Park, is the fund's 15th acquisition. Laramer said it will rename the property The Heights at Burien.  more...

New-home sales hit 13-year low

By Inman News, Wednesday, March 26, 2008.

New single-family home sales dropped to the lowest rate in February since 1995, and sales were down about 29.8 percent from the February 2007 rate, the U.S. Census Bureau and U.S. Department of Housing and Urban Development reported today.

The seasonally adjusted annual rate of new single-family home sales was 590,000 in February -- this rate is a projection of a monthly sales total over a 12-month period, adjusted to account for seasonal fluctuations in sales activity.  more...

Fed action pushes refis up 82%

By Inman News, Wednesday, March 26, 2008.

Mortgage application volume jumped 48.1 percent last week following the Federal Reserve's move to cut two key short-term interest rates, the Mortgage Bankers Association reported today.

According to MBA, the seasonally adjusted increase was led by an 82.2 percent spike in the index that tracks refinance applications, followed by a 10.6 percent gain in the purchase-loan index.  more...

Nightly real estate rates barely budge

By Inman News, Wednesday, March 26, 2008.

Long-term mortgage interest rates were flat Tuesday, and the benchmark 10-year Treasury bond yield sank to 3.51 percent.

The 30-year fixed-rate average dipped to 5.72 percent, and the 15-year fixed rate held at 5.22 percent. The 1-year adjustable rate slipped to 5.41 percent.

The 30-year Treasury bond yield was down to 4.3 percent.

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