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Easy fixes for a saggy door

By Bill and Kevin Burnett, Tuesday, April 15, 2008.

Q: Our front door faces the southwest and has a short overhang such that it takes a beating from the afternoon sun. We replaced our 36-by-80-inch wood-panel front door with a new fiberglass one.

It has settled over the past 15 months. Also, it's sagging a bit. The old wood door sagged because of the many separate pieces that sagged. The new fiberglass door has a solid one-piece face, but the top corner is sagging just a bit so that it rubs against the jamb.  more...

Second-home buyers sold on GarageTown

By Tom Kelly, Tuesday, April 15, 2008.

The idea wasn't exactly an accident, but it was not at the top of the to-do list either. In the end, it resulted in a second-home gathering place in close proximity to home itself -- especially for casual collectors and automobile enthusiasts.

Several years ago, when Cyndie Johnson and her late husband were planning a residential community near Coeur d'Alene, Idaho, the couple needed to purchase an additional piece of property to provide another access easement for the development.  more...

Realtors welcome at auction site bidEup

By Inman News, Tuesday, April 15, 2008.

A new online auction site claims it will be the first to facilitate legally binding sales, by authenticating users and allowing the use of electronic signatures and documents so contracts can be executed digitally.

Bethesda, Md.-based bidEup will accept only those properties listed by licensed real estate agents or owned by financial institutions or government agencies, and requires bidders to show they have cash or financing from a lender.  more...

Regulator sees increased risk to Fannie, Freddie

By Inman News, Tuesday, April 15, 2008.

Fannie Mae and Freddie Mac largely rose to the challenges posed by the credit crunch, purchasing or guaranteeing three out of four mortgages in the fourth quarter of 2007, compared with about one in three loans the year before, federal regulators said in their annual report to Congress.  more...

Walgreens store, lumber factory get new owners

By Inman News, Tuesday, April 15, 2008.

NAI BT Commercial recently brokered the sale of more than 93,000 square feet of industrial and retail space in deals in Nevada and Alabama.

The total value of the transactions was approximately $9.7 million.

In the first deal, a private investor purchased the 79,000-square-foot J.E. Higgins Lumber industrial facility in Reno, Nev., for nearly $4.6 million, or $58 per square foot. Energy Reno LP sold the asset, which is located on Energy Way.  more...

Trust makes Sorrento Plaza purchase

By Inman News, Tuesday, April 15, 2008.

The Sorrento Plaza Retail Center in San Diego, Calif., has sold for $7.1 million, brokerage Grubb & Ellis/BRE Commercial announced today.

The Guilford H. Whitney Trust purchased the 39,204-square-foot property from Sorrento Parcels LLC.

Located at 9245 Scranton Road in the Sorrento Plaza South office complex, the property was completed in September 2007.

At the time of sale, tenants at the property included Croutons, Subway, Rubio's Baja Grill and Skewers, as well as additional food and service users.  more...

Gottesman lands property in New Jersey

By Inman News, Tuesday, April 15, 2008.

Gottesman Real Estate Partners on Monday announced the purchase of Old Mill Plaza in Sea Girt, N.J., for an undisclosed price.

The 52,000-square-foot center, located at 2100 Highway 35, includes retail and professional office space, and was sold by Sitt Asset Management.

The site includes a stand-alone office building at its rear that houses Birdsall Services Group, a regional engineering firm.  more...

Recession is upon us Premium Content

By Inman News, Tuesday, April 15, 2008.

The chief economist for the nation's largest home builder trade group said today that the country is clearly in a recession.

"It's now clear that we have entered what we anticipate will be a mild recession, running through the first half of this year, and there are substantial downside risks to this economic scenario," said David Seiders, of the National Association of Home Builders, in a statement today.  more...

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Calling all innovators

By Jessica Swesey, Tuesday, April 15, 2008.

It's that time again -- time to round up the real estate industry's most innovative new companies, products, business models and services for entry into the eleventh annual Inman News Innovator Awards.

Since 1997, the Inman News Innovator Award has recognized companies that have demonstrated extraordinary innovation through the use of technology or the Internet that positively impact the real estate industry.
 more...

'House Lust' author to kick off real estate conference

By Inman News, Tuesday, April 15, 2008.

Author Daniel McGinn of Newsweek will kick off the National Association of Real Estate Editors conference on Wednesday, May 7, at the Magnolia Hotel in Dallas. McGinn will discuss his new book, "House Lust: America's Obsession with Our Homes."

The country's mania for homes is alive and well, according to McGinn, whose book explores the behavior more than the economics of America's real estate obsession.  more...

Southern California home sales log tepid gain

By Inman News, Tuesday, April 15, 2008.

Southern California's seasonal boost in home sales between February and March was less than half its normal level and a record low, and median prices of sales took a dive, according to a report today from data provider DataQuick Information Systems.

A total of 12,808 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in March. That was up 18.8 percent from 10,777 the previous month but down 41.4 percent from 21,856 in March 2007, DataQuick reported.  more...

Real estate videos get more exposure online

By Inman News, Tuesday, April 15, 2008.

Video search company ClipBlast said it will begin indexing all current and future real estate video content from MLBroadcast, a marketing service for real estate listings.

The move comes at a time when real estate agents seek all the exposure they can get for property listings in slow markets, and also when many are shifting more marketing dollars from print to online.  more...

Overnight interest rates hold steady

By Inman News, Tuesday, April 15, 2008.

Long-term mortgage interest rates remained about the same on Monday from the previous day, and the benchmark 10-year Treasury bond yield increased slightly to 3.51 percent.

The 30-year fixed-rate average was unchanged at 5.62 percent, and the 15-year fixed rate slipped slightly to 5.2 percent. Meanwhile, the 1-year adjustable rate also slipped slightly to 5.69 percent.

The 30-year Treasury bond yield was up at 4.35 percent.

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

Nevada continues to lead in foreclosure rates

By Inman News, Tuesday, April 15, 2008.

U.S. foreclosure activity increased 57 percent in March compared with the same month a year ago, data provider RealtyTrac reported today, and Nevada continued to lead the nation with one foreclosure filing for every 139 households, nearly four times the national average.  more...