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Home inspectors avoid asbestos like the plague

By Barry Stone, Monday, April 28, 2008.

Dear Barry,

The home inspector I hired never mentioned that the floor tiles and air duct insulation contain asbestos. Shouldn't he have pointed this out? --Robert

Dear Robert,  more...

Realtor.com: Freshness counts

By Inman News, Monday, April 28, 2008.

The drive to freshness is on in the real estate industry. And it doesn't involve a bake sale.

Real estate search site Realtor.com is combating the slow housing market with fresher property information.

About one-third of the 4.4 million property listings at the popular search site, which is operated by Move Inc. through a contract with the National Association of Realtors, are updated every 15 minutes, the company announced on Monday.  more...

BofA plans $40 billion in workouts after Countrywide merger

By Inman News, Monday, April 28, 2008.

In another move intended to smooth the way for its planned acquisition of Countrywide Financial Corp., Bank of America has announced that the combined company would work to modify $40 billion in troubled mortgages in the next two years -- about 265,000 loans.

Bank of America also announced Monday that it's committed to make $1.5 trillion in community development loans and investments over the next 10 years, double the existing goal of $750 billion.  more...

S.F. apartment deal hits $115 million

By Inman News, Monday, April 28, 2008.

Brokerage Marcus & Millichap recently arranged the sale of Edgewater Luxury Apartments, a 193-unit multifamily community in San Francisco.

The sales price of $115 million represents $595,855 per unit.

UDR Inc. purchased the class A property from Urban Housing Group. Located at 355 Berry St. between Fifth and Sixth streets, the 157,203-square foot, six-story apartment building is situated on a 157,135-square-foot lot.  more...

Dovetail relocates corporate offices

By Inman News, Monday, April 28, 2008.

Dovetail Furniture Inc., one of the largest importers and distributors of handcrafted furniture on the West Coast, purchased a 52,426-square-foot industrial building in Los Angeles to house its corporate offices, warehouse and showroom.

The company paid seller Glabman Furniture Inc. more than $4.5 million for the facility.

According to a press statement, the property, which is located at 14000 S. Figueroa St., was "well maintained and no renovations were needed."  more...

Walgreens purchased in Marysville, Ohio

By Inman News, Monday, April 28, 2008.

Grubb & Ellis Realty Investors LLC today announced the acquisition of a Walgreens building in the Columbus suburb of Marysville, Ohio, on behalf of a private investor participating in the Grubb & Ellis Wealth Management program.

The value of the transaction was not disclosed.

Located at 180 Coleman's Crossing, the property offers nearly 15,000 square feet of rentable space and includes a drive-thru pharmacy window. Newly constructed on approximately two acres of land, the property lies just off Route 33, the region's main highway.  more...

Industry reacts to short-sale rule changes Premium Content

By Inman News, Monday, April 28, 2008.

An Inman News article about the National Association of Realtors' consideration of new multiple listing service rules relating to properties that may be subject to short-sale transactions drew a range of reader comments and letters. An NAR committee is expected to consider next month whether to offer guidance on when MLS participants must disclose that a property may be subject to lender approval as a short-sale transaction.  more...

Fidelity may sell flood, homeowners insurance lines

By Inman News, Monday, April 28, 2008.

Fidelity National Financial Inc. is looking to sell its flood and personal lines of insurance to maintain the company's $1.20 annual dividend to shareholders, fund a stock repurchase program, and pay down debt.  more...

Agents untangle Twitter

By Inman News, Monday, April 28, 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:

Agents untangle Twitter  more...

California home sales still falling Premium Content

By Inman News, Monday, April 28, 2008.

Home sales decreased 24.5 percent in March in California compared with the same period a year ago, while the median price of an existing home fell 29 percent, according to a recent report from the California Association of Realtors.

Closed escrow sales of existing, single-family detached homes in California totaled 318,830 in March at a seasonally adjusted annualized rate, according to C.A.R.  more...

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He's a fan

By Matt Carter, Monday, April 28, 2008.

California Insurance Commissioner Steve Poizner has a busy day ahead of him today. He's holding a press conference down in San Diego to publicize a ruling that homeowners insurance companies can't reduce claims payments to policyholders who lose their homes in a disaster and decide they want to rebuild somewhere elese. Wildfires destroyed more than 1,700 homes in San Diego County last year (see San Diego Union-Tribune for details on the ruling).  more...

The new market reality

By Glenn Roberts Jr., Monday, April 28, 2008.

A sign of the times, in Calaveras County, Calif.  more...

Nightly real estate rates up slightly

By Inman News, Monday, April 28, 2008.

Long-term mortgage interest rates inched higher Friday, and the benchmark 10-year Treasury bond yield increased to 3.87 percent.

The 30-year fixed-rate average edged up to 5.87 percent, and the 15-year fixed rate gained to 5.47 percent. Meanwhile, the 1-year adjustable rate rose to 5.83 percent.

The 30-year Treasury bond yield climbed to 4.59 percent.

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