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Push home buyers off the fence now Premium Content

By Bernice Ross, Thursday, April 10, 2008.

Many agents are lamenting about how bad the market is. Most people who were in business in 1998 will remember that it was a pretty good year. The National Association of Realtors is projecting that in 2008 there will be more than 5 million home sales or 10 million transaction "sides," the same number as in 1998. Assuming that there are approximately 1 million active Realtors today, that's 10 sides per agent.

The question is how can you capitalize on today's market conditions to increase your income in 2008?  more...

Legal rights when neighbor's tree threatens property

By Benny Kass, Thursday, April 10, 2008.

If the roots of your neighbor's tree are causing damage to your property, what legal rights do you have? Unfortunately, it depends on where you live.

Over the centuries, our country has grown from a largely agricultural setting to an urban civilization. As a result of these changes, different states have adopted different rules regarding tree law and liability.  more...

How to pick the right furnace for your home

By Paul Bianchina, Thursday, April 10, 2008.

Q: How do you make a good choice on the type and brand of new furnace with so many options available today? --Michael W.

A: It's similar in many ways to evaluating and deciding on any major purchase, which is a combination of a reputable manufacturer and reputable dealer. I would begin by asking around among friends, coworkers and even your utility company, and get a list of two (or three if desired, but no more than that) reputable heating contractors in your area. Ideally, these contractors will represent at least two different lines of furnaces.  more...

Race is on to build world's tallest structure

By Arrol Gellner, Thursday, April 10, 2008.

How many structures have qualified as the tallest thing ever built? Surprisingly, it's a pretty small club.

We don't know much about structures of the distant past, of course. But we do know that if you'd been hanging around Giza in 2570 B.C. or so, you'd have found the spanking-new Great Pyramid soaring some 481 feet into the sky -- high enough to hold the title of tallest manmade structure for nearly 4,000 more years.  more...

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Condotel hell

By Glenn Roberts Jr., Thursday, April 10, 2008.

The Wall Street Journal reports that the condo hotel, also known as "condotel," "may go down as the Pets.com of the real-estate bubble." Unfortunately, the condotel industry does not have a snappy sock-puppet mascot.  more...

CBRE Capital Markets arranges $46 million sale

By Inman News, Thursday, April 10, 2008.

CBRE Capital Markets has arranged the $46 million sale of Lyons Tech Portfolio in Coconut Creek, Fla.

The portfolio consists of five institutional grade office and flex properties totaling 310,779 square feet located in the prestigious Lyons Technology Park.  more...

KBS Realty lands 13-story Dallas property

By Inman News, Thursday, April 10, 2008.

KBS Realty Advisors has purchased a 13-story, 351,872-square-foot class A office building in Dallas from Fortis.

The purchase price was not disclosed.

The property, International Plaza Tower III, is located at 14241 Dallas Parkway.

The property was 72 percent occupied at the time of purchase. Major tenants include IMAC, Duke Realty, Wells Fargo Foothill, KBA Group and Arthur J. Gallagher & Co.  more...

Michigan office property changes hands

By Inman News, Thursday, April 10, 2008.

Friedman Real Estate Group Inc. recently negotiated the sale of a 34,000-square-foot office building located at 31000 Northwestern Highway in Farmington Hills, Mich., more commonly know as the Paramount Bank Building.

The value of the transaction was not disclosed.

The seller, Cambridge Investors VII, LLC, sold the property to Northwestern Professional Center, LLC, an entity comprised of a law firm and a CPA firm.

The firms will be occupying space on the first floor, while Paramount Bank has signed a lease agreement as the major tenant on the second floor.  more...

Senate passes watered down Foreclosure Prevention Act Premium Content

By Matt Carter, Thursday, April 10, 2008.

The Senate passed legislation Thursday that would provide billions in tax cuts for home builders, banks and other businesses hit by losses in the housing downturn and a smaller amount of assistance for state and local governments and individual homeowners.  more...

Redfin tests out high service, lower rebate plan

By Glenn Roberts Jr., Thursday, April 10, 2008.

Redfin, a real estate brokerage company that offers deep rebates to buyers, is testing out a new service option in the Seattle area that allows buyers to participate in an unlimited amount of tours while reducing the company's rebate rate.  more...

Redfin tests higher service, lower rebate plan

By Glenn Roberts Jr., Thursday, April 10, 2008.

Redfin, a real estate brokerage company that offers deep rebates to buyers, is testing out a new service option in the Seattle area that allows buyers to participate in an unlimited amount of tours while reducing the company's rebate rate.  more...

PMI sees less risk of price declines in most major markets Premium Content

By Matt Carter, Thursday, April 10, 2008.

Housing markets that didn't experience steep run-ups in prices during the housing boom are starting to show a reduced risk of price declines in the next two years, according to a risk index published by PMI Mortgage Insurance Co.

The chance that housing prices will be lower in two years declined in 32 of the 50 largest U.S. housing markets during the fourth quarter, PMI said. That's an abrupt turnaround from the third quarter, when PMI said the risk of price declines increased in 39 of the 50 largest markets.  more...

Hey subprime meltdown, I want my $143 back

By Jessica Swesey, Thursday, April 10, 2008.
The International Monetary Fund estimated Tuesday that the subprime mortgage meltdown could zap almost $1 trillion from the world economy, according to news sources.

The IMF predicts losses of $945 billion after adding up batches of bad mortgages, securities and other commercial loans. The Chicago Tribune says that amounts to about $143 for each person on Earth.  more...

Global real estate advertiser makes gains in U.K.

By Jessica Swesey, Thursday, April 10, 2008.

The REA Group, a global online real estate advertising company based in Melbourne, Australia, has expanded its footprint in the United Kingdom with the acquisition of Hotproperty.co.uk.

The REA Group's 50 percent owned United Kingdom subsidiary, Propertyfinder Holdings Ltd, has acquired Sherlock Publications Ltd for £5.6 million ($11.1 million USD), the company announced this week.  more...

Overnight interest rates continue slide

By Inman News, Thursday, April 10, 2008.

Long-term mortgage interest rates continued a two-day slide Wednesday, and the benchmark 10-year Treasury bond yield decreased to 3.48 percent.

The 30-year fixed-rate average decreased to 5.63 percent, and the 15-year fixed rate fell to 5.22 percent. Meanwhile, the 1-year adjustable rate increased to 5.65 percent.

The 30-year Treasury bond yield was down at 4.32 percent.

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