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Agents fight back on tough lending conditions Premium Content

By Glenn Roberts Jr., Thursday, April 24, 2008.

Sliding home prices have made homes more affordable in some areas, though tighter lender requirements and bigger down payments have locked some buyers out of the market.

Real estate agents and brokers say they have seen some unconventional loan types, such as those higher-risk loans that have been blamed for bringing down the subprime and credit markets, largely vanish from the market while government loan products are becoming more prominent.  more...

HUD slams Democrats' $300B FHA expansion plan

By Inman News, Thursday, April 24, 2008.

The Bush administration has come out against a proposal by House Democrats for a massive expansion of FHA loan guarantee programs that's aimed at helping refinance up to 2 million loans in cases where lenders agree to principal write-downs.

"An attempt to shift costs to taxpayers would constitute a bailout," Acting Housing Secretary Roy A. Bernardi said in a letter to lawmakers today addressing legislation introduced by Rep. Barney Frank, D-Mass.  more...

Building permits are nothing to fear

By Paul Bianchina, Thursday, April 24, 2008.

"Do I really need a building permit?"

It's one of the most common questions that a homeowner will ask when contemplating a construction project, typically hoping that the answer they'll get back is "no." People seem to have an unreasonable fear of building permits and the entire inspection process, and since many of your projects actually will require a permit, it might be helpful to look at some common questions that often arise.  more...

Before choosing vinyl, think about environment

By Arrol Gellner, Thursday, April 24, 2008.

The other day I came across a plastic house. Not the futuristic World's Fair variety -- this was just an ordinary old house that had been "improved" with a brace of glaring-white vinyl windows, lots of wavy vinyl siding, and some flimsy looking vinyl gutters and downspouts. As icing on the petrochemical cake, it was ringed by a white vinyl picket fence. If there were any termites left in the place, they must have been pretty hungry.  more...

Specialization's the name of the game Premium Content

By Bernice Ross, Thursday, April 24, 2008.

(This is Part 1 of a three-part series.)

Is your Web site generating the leads you want or is it a money pit that produces no results? If you want to turn your Web site into a moneymaking machine, today's column will show you how.

Michael Russer, aka "Mr. Internet," has been an expert on how to use the Web to market your real estate services since the mid-1990s. He has been a leading advocate of working with virtual assistants and has shown thousands of agents how to build successful online businesses.  more...

L.A. retail deal nears $29M

By Inman News, Thursday, April 24, 2008.

A 66,070-square-foot retail center in Burbank, Calif., has sold in a 1031 exchange to a locally based limited liability company.

Los Angeles-based AMC Associates LLC paid nearly $28.8 million for the property at 2500-2600 W. Victory Blvd., which was built in 1998 on 6.37 acres.

At the time of sale, the property was leased on a triple-net basis to Ralph's (49,695 square feet) and CVS/pharmacy (16,375 square feet).  more...

Upland sells Walgreens store

By Inman News, Thursday, April 24, 2008.

Upland Real Estate Group Inc. today announced it sold a Walgreens drugstore in Thornton, Colo., to a tax-deferred-exchange buyer for $4.9 million.

The property comprises 14,820 square feet and is triple-net-leased to Walgreens for an undisclosed term.

Upland is based in Minneapolis.

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Pharma co. pays $440 a square foot in lease

By Inman News, Thursday, April 24, 2008.

An international pharmaceutical services group doing business as Premier Research Group has signed a 10-year lease for 10,798 square feet of office space in San Diego, Calif.

The value of the transaction was nearly $4.8 million.

Located at 9333 Genesee Ave. in Genesee Executive Plaza, the space is owned by Arden Realty Inc. The plaza, which features two three-story buildings, includes an on-site café, property manager and concierge service.  more...

ZipRealty eyes Connecticut

By Inman News, Thursday, April 24, 2008.

National brokerage company ZipRealty expects to be operating in five cities in Connecticut by the third quarter of 2008, marking the company's expansion into its 20th U.S. state.

ZipRealty's planned coverage area includes Hartford, Tolland, Middlesex, New Haven and Litchfield counties, according to an announcement of the planned expansion.

The company said it plans to open an office in Hartford, and hire a district director and local, licensed agents as part of the expansion.  more...

Mortgage rates higher on inflation jitters

By Inman News, Thursday, April 24, 2008.

Worries about inflation pushed mortgage rates up this week, Freddie Mac reported today.

The average rate on 30-year fixed-rate loans jumped to 6.03 percent in the latest survey, up from 5.88 percent last week, while the average rate on 15-year fixed loans climbed from 5.4 percent to 5.62 percent. A year ago the 30-year averaged 6.16 percent and the 15-year averaged 5.87 percent.  more...

Q&A with 'Super Mike' Minervini

By Inman News, Thursday, April 24, 2008.
Mike "Super Mike" Minervini

Inman News tracked down Mike "Super Mike" Minervini, a broker-associate for RE/MAX Champions in Matawan, N.J., for this Q&A. E-mail us if you or someone you know would be a good candidate to feature in this recurring Q&A segment.

Q: How many years have you worked in the real estate business, and how long ago did you begin marketing yourself as Super Mike?  more...

RE/MAX regions add foreclosure data

By Inman News, Thursday, April 24, 2008.

Thousands of RE/MAX Web sites this week have added foreclosure property search features thanks to a new partnership between four independently owned RE/MAX regions, Web developer Reliance Network and foreclosure data provider RealtyTrac.

RE/MAX Web sites in Northern Illinois, New Jersey, Kansas, Missouri, Oklahoma, Arkansas, Alabama, Louisiana, Mississippi and Michigan have gone live with the new foreclosure search feature, the company said in an announcement.  more...

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Inman Q&A with "Super Mike" Minervini

By Glenn Roberts Jr., Thursday, April 24, 2008.

Inman News tracked down Mike "Super Mike" Minervini, a broker-associate for RE/MAX Champions in Matawan, N.J., for this Q&A. E-mail us if you or someone you know would be a good candidate to feature in this recurring Q&A segment.  more...

New-home sales fall 62% from '05 peak

By Inman News, Thursday, April 24, 2008.

The sales rate for new single-family homes dropped for the fifth straight month in March, hitting the lowest level since October 1991, the U.S. Census Bureau and the Department of Housing and Urban Development reported today.

Since reaching a record seasonally adjusted annual sales rate of 1.39 million in July 2005, the rate has plummeted 62.1 percent.  more...

Losing interest

By Matt Carter, Thursday, April 24, 2008.

Hitwise home prices

Internet searches for "houses for sale" track closely with median home prices published by NAR over the last 12 months, Hitwise's Heather Hopkins blogs today.  more...

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