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RE/MAX sues First American Premium Content

By Matt Carter, Monday, April 21, 2008.

A legal dispute between RE/MAX International Inc. and First American Residential Group Inc. over a $600,000-a-year marketing agreement has attracted the attention of Colorado regulators, who want to know more about how First American benefited from the deal and why it decided to pull the plug on the deal last year.

According a lawsuit filed by RE/MAX in March, First American paid the real estate franchisor more than $2.4 million over four years for the exclusive right to market its title insurance and related services to RE/MAX franchises and agents.  more...

Insect spray won't keep termites away

By Barry Stone, Monday, April 21, 2008.

Dear Barry,

My husband and I disagree over how to treat the termites in our home. For the past 27 years, he has sprayed poison wherever we've seen frass particles. I've heard that termites must be professionally exterminated, but he says that termites are a permanent problem in our area and that they will always return after extermination. What is your advice? --Ninel

Dear Ninel,

Here are some vital termite facts to help settle your domestic debate:  more...

Tenneco renews in Long Beach

By Inman News, Monday, April 21, 2008.

Tenneco, a manufacturer of automotive emission and ride control products, has renewed its lease for three buildings in Long Beach, Calif., for an undisclosed price.

The industrial complex, totaling 109,850 square feet, is located at 6925 Atlantic Ave.

The Staubach Co. represented Carson Property Co., the building owner, in the transaction.  more...

Philly apartments go for $15M

By Inman News, Monday, April 21, 2008.

GPX Realty Partners L.P. today announced it has acquired Fairmount Terrace Apartments in Philadelphia, Pa., for nearly $15.4 million.

The 162-unit, garden-style complex, sold by ASI Management, is located at 3601 Conshohocken Ave. Featuring studios and one- and two-bedroom units, the property also includes laundry facilities, a swimming pool, and gated on-site parking.  more...

Sale, leaseback tops 290,000 square feet

By Inman News, Monday, April 21, 2008.

Brokerage CB Richard Ellis today announced it arranged the sale/leaseback of a 293,038-square-foot industrial facility in Douglassville, Pa., for an undisclosed price.

The seller, CEI Douglassville Inc., sold the property at 447 Old Swede Road to a partnership between Net Lease Advisors and CEI Holdings Inc.

The property will be fully triple-net leased for 12 years to CEI Holdings Inc., a provider of supply chain management services to top marketers and retailers in the $36 billion U.S. personal care products industry.  more...

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Let sleeping bears lie

By Matt Carter, Monday, April 21, 2008.

Representatives Ruben Hinojosa, D-Texas, and Judy Biggert, R-Ill., want HUD to double the length of the public comment period on its proposed changes to the Real Estate Settlement Procedures Act (RESPA). The 60-day window that closes May 13, they say, provides "an inadequate amount of time for the public to review and comment on such an extensive rule that will have significant implications on the housing industry."  more...

NRT leads in 2007 sales volume, transactions Premium Content

By Inman News, Monday, April 21, 2008.

NRT LLC, a part of Realogy Corp., ranked as the top residential real estate brokerage company in the nation in sales volume and transactions in 2007, real estate research and publishing company REAL Trends has announced.

NRT, based in Parsippany, N.J., oversees company-owned real estate operations for Realogy, a company that is also a major franchiser of brands including Century 21, Coldwell Banker, ERA Real Estate and Sotheby's International Realty. In 2007, Realogy-affiliated agents participated in about 25 percent of all home-sale transactions that involved a broker.  more...

Craigslist may limit HTML

By Inman News, Monday, April 21, 2008.

The new Inman.com has opened up a new place for real estate addicts to talk about business tools, the market and the latest headlines. Here's a rundown of some of this week's most popular discussions:

Craigslist limiting HTML

Craigslist, a top real estate destination for marketing property listings to consumers, has recently made a proposal to limit the use of HTML in ads as a way to ward off spammers.  more...

Street views land on RealEstate.com

By Inman News, Monday, April 21, 2008.

Real estate portal RealEstate.com has added Google's Street View application to property listings indexed at the site, 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...

Nightly real estate rates still climbing

By Inman News, Monday, April 21, 2008.

Long-term mortgage interest rates were up again Friday, and the benchmark 10-year Treasury bond yield dipped to 3.71 percent.

The 30-year fixed-rate average climbed to 5.9 percent, and the 15-year fixed rate gained to 5.47 percent. Meanwhile, the 1-year adjustable rate rose to 5.79 percent.

The 30-year Treasury bond yield was down at 4.49 percent.

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