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Apr

25
2008

Take a look at the bright/dark side

By Jessica Swesey, Friday, April 25, 2008.

Wondering how real estate news this week plays out in the housing recovery? Here's our take on the bright side versus dark side:

INVENTORY

Bright side: Foreclosures account for one in three California resales. Hey, at least somebody's buying up that inventory.
http://www.inman.com/news/2008/04/23/foreclosures-account-one-in-three-california-resales  more...

Soft selling "the Windermere"

By Matt Carter, Friday, April 25, 2008.

Windermere Real Estate has launched a recruiting site that, according to a press release, allows agents to read about "the Windermere’s state of mind .. the company’s organic growth and ... Windermere’s 'secret formula' for being the leading real estate brand in the West."  more...

UBP buys 60% of N.J. shopping center

By Inman News, Friday, April 25, 2008.

Urstadt Biddle Properties Inc. this week announced it has acquired a 60 percent interest in a newly formed limited partnership that recently purchased the Ferry Plaza Shopping Center in Newark, N.J., for $26 million.

A group of investors who originally developed the property in 1995 sold it to the partnership, which is comprised of Urstadt Biddle Properties and one of its affiliates.  more...

Sunrise Bank signs $4 million lease

By Inman News, Friday, April 25, 2008.

Sunrise Bank of San Diego has signed a 10-year lease for class A office space in the city's Sunroad Corporate Center, brokerage Cushman & Wakefield announced today.

The lease, valued at more than $4.1 million, is for 7,856 square feet located at 4445 Eastgate Mall. Sunroad Enterprises owns the building.  more...

Oaks Development lands medical office space

By Inman News, Friday, April 25, 2008.

North Carolina-based Oaks Development Group today announced the purchase of Cypress Professional Center, comprised of class A medical office space in Punta Gorda, Fla.

The value of the transaction was not disclosed.

The 29,927-square-foot property at 25097 Olympia Ave. is being converted to Oaks' unique tenant-ownership model in which tenant partners split 50 percent ownership interest based on how much space they occupy.  more...

Agents offered a cut of price protection contracts

By Matt Carter, Friday, April 25, 2008.

A company that offers price protection contracts to home buyers is offering real estate brokers and agents a 10 percent commission to sell their product, or about $300 on the sale of a median price home.

EquityLock Financial Inc. charges 1.5 percent to 2 percent of a home's sale price to provide 15-year contracts that provide a hedge against falling home prices. The company's referral program for Realtors and other real estate professionals pays 10 percent commissions.  more...

Stop the panic; hold the sugar Premium Content

By Lou Barnes, Friday, April 25, 2008.

Long-term mortgage rates this week stayed about where they were last week, close to post-January highs: 30-year-fixed mortgages were just above 6 percent, and the 10-year T-note was at 3.82 percent.

However, the situation is changing and thick with propaganda. The keys: the difference between a retreat from panic and return to health, and rising global inflation.  more...

Leave the brand, take the cannoli

By Matt Carter, Friday, April 25, 2008.

 more...

Job ads down on housing, energy woes

By Inman News, Friday, April 25, 2008.

The Conference Board this week announced that its measure of job ads in major U.S. newspapers fell two points in March as the housing crunch and energy and food prices continued to slow the economy.

The group's Help-Wanted Advertising Index is now off 10 points from its level a year ago (29), and over the last three months has declined in all nine U.S. regions. Steepest declines occurred in the East North Central (-20.3 percent), West North Central (-18.1 percent) and East South Central (-16.7 percent) regions.  more...

Nightly real estate rates still climbing

By Inman News, Friday, April 25, 2008.

Long-term mortgage interest rates were up again Thursday, and the benchmark 10-year Treasury bond yield increased to 3.83 percent.

The 30-year fixed-rate average edged up to 5.86 percent, and the 15-year fixed rate gained to 5.45 percent. Meanwhile, the 1-year adjustable rate rose to 5.8 percent.

The 30-year Treasury bond yield climbed to 4.55 percent.

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