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Jury sides with Realtor in dispute over sales price

By Inman News, Monday, April 14, 2008.

A Carlsbad, Calif., real estate broker who showed a couple dozens of properties before they plunked down $1.2 million for a home near a golf course fulfilled his fiduciary duties to his clients and was not negligent, a jury has ruled.

RE/MAX agent Mike Little was sued by his former clients, Marty and Vern Ummel, who claimed they paid $150,000 too much for their home in northern San Diego County. The Ummels claimed Little failed to tell them about similar homes nearby that sold for less.  more...

Site aims to crack closing costs black box Premium Content

By Matt Carter, Monday, April 14, 2008.

If many home buyers have never shopped for their own title insurance, will they use a Web site that not only helps them do that, but also select their own appraiser, home inspector, surveyor, or termite company?

Jeff Lazerson thinks they will, and armed with a $100,000 Ford Foundation grant, he's building Fairclosingcosts.com, a Web site that he says will allow not only consumers but real estate and mortgage professionals to shop for settlement services.  more...

Inspector OK's heating system that was broken

By Barry Stone, Monday, April 14, 2008.

Dear Barry,  more...

Apr

14
2008

Yes, but is it tax deductible?

By Matt Carter, Monday, April 14, 2008.

Times may be tough for mortgage lenders, but originators with great sales chops -- or executives who control their company's purse strings -- may soon be talking their way aboard a Royal Caribbean cruise ship on their employer's dime.

The Mortgage Leader Cruise departs Miami on Feb. 22, with stops in San Juan, St. Thomas and St. Maarten.  more...

How much is your reputation worth?

By Jessica Swesey, Monday, April 14, 2008.

Rocketboomer founder Andrew Baron is making techie headlines today with his plight to sell his Twitter account and its 1,500 followers. Baron listed the account for sale on eBay.

Bloggers expect Baron's stunt will spark some debate about online credibility and privacy, and that Twitter will almost certainly delete the account once it's been sold.  more...

REiSource targets title industry

By Inman News, Monday, April 14, 2008.

First American CoreLogic today announced the debut of REiSource, a new Web-based real estate information portal designed for the title insurance industry.

REiSource provides property profiles, new homeowner and refinance lists, property resale trends, mortgage leads and custom reports for title insurance companies.

The site aims to help title companies increase market penetration, streamline operations, control costs and maximize return on investment.  more...

Pacific Research Center gets new tenant

By Inman News, Monday, April 14, 2008.

BioMed Realty Trust Inc. today announced the signing of a new lease agreement at the Pacific Research Center in Newark, Calif.

The value and terms of the agreement were not disclosed.

Revance Therapeutics Inc., a specialty pharmaceutical company focused on the development and commercialization of innovative biopharmaceutical products for the aesthetic medicine and personal wellness categories, has agreed to occupy more than 90,000 square feet at BioMed's multi-tenant research campus in Newark.  more...

EBS acquires two-property portfolio in Nevada

By Inman News, Monday, April 14, 2008.

Equity Based Services Inc., a private real estate investment and management firm announced today that it has acquired a two-property Storage One portfolio in Las Vegas and Henderson, Nev., for $12 million.

EBS said it has terminated the management and licensing agreement with Storage One and will re-brand these two properties as American Mini Storage properties.  more...

Two tenants renew in Oak Brook, Ill.

By Inman News, Monday, April 14, 2008.

Prime Group Realty Trust, a Chicago-based real estate investment trust announced that two long-term tenants have renewed lease agreements for space in Oak Brook, Ill.

The value of the lease agreements was not disclosed.

In separate transactions, XO Communications Services Inc. has renewed its agreement for 32,210 square feet at 810 Jorie Boulevard, and Clearblue Technologies/Oak Brook Inc. has renewed its agreement for 16,780 square feet at 800 Jorie Boulevard, both in Oak Brook.  more...

Ten years after

By Matt Carter, Monday, April 14, 2008.

Will we still be talking about the mortgage meltdown and housing slump in 2018?

It may no longer be a hot topic of conversation, but analysts at JP Morgan say the credit crunch will affect the structure of financial markets and pricing "for at least a decade," Reuters reports.  more...

Mortgage bankers not moving back in with parents

By Matt Carter, Monday, April 14, 2008.

The fact that the credit crunch is increasing the financing costs for the Mortgage Bankers Association's new 12-story headquarters in Washington D.C. has made the lobbying group an easy mark for pundits and comedians, although some have felt the need to embellish the story a bit.  more...

DotHomes steps up street views

By Inman News, Monday, April 14, 2008.

Real estate search engine DotHomes has added Google's Street View application to U.S. property listings indexed at dothomes.com, the company said today.

The application enables home shoppers to get a complete view of a home and its surrounding streets as well as the overall neighborhood.  more...

Overnight interest rates slip

By Inman News, Monday, April 14, 2008.

Long-term mortgage interest rates slipped Friday, and the benchmark 10-year Treasury bond yield decreased to 3.47 percent.

The 30-year fixed-rate average decreased to 5.62 percent, and the 15-year fixed rate fell to 5.21 percent. Meanwhile, the 1-year adjustable rate increased to 5.7 percent.

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

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