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Apr

4
2008

So does the dog come with the property?

By Jessica Swesey, Friday, April 4, 2008.

Taking inspiration from Athol Kay's "Bad MLS Photo of the Day" blog feature, I ran across an odd photo in the MLS today. (Imagine that!) This went beyond the usual close-up image of the property's front door, door-knocker, or horribly darkened hallway. This one was an image of a dog.... not a dog sitting in the living room of the property, or the backyard, or the kitchen, or the master bedroom, or the garage, or the bathroom.  more...

Six Forks Station sold at 96% occupancy

By Inman News, Friday, April 4, 2008.

Grubb & Ellis Realty Investors LLC this week announced it acquired Six Forks Station in Raleigh, N.C., on behalf of tenant-in-common investors, at 96 percent occupancy.  more...

Hines sinks cash into Chicago high-rise

By Inman News, Friday, April 4, 2008.

International real estate firm Hines this week announced that its U.S. Core Office Fund LP paid an undisclosed amount for One North Wacker, a 51-story office tower in downtown Chicago.

Sold by a German investment fund managed by RREEF, the 1.4 million-square-foot building is located in the city's West Loop submarket. Completed in 2001, amenities include a 9,000-square-foot conference center and a health club facility. Parking is provided in a two-level, 230-space garage.  more...

Restaurant Depot makes condo purchase

By Inman News, Friday, April 4, 2008.

Midwest Real Estate Equities Inc. on Thursday announced the sale of a 66,000-square-foot shopping center condominium in its Landings of Lombard shopping center in Lombard, Ill.

The value of the transaction was not disclosed.

The buyer, Restaurant Depot, is a national wholesaler that sells food and supplies to restaurants and nonprofit food service providers. It purchased the condo as a means to "increase its asset value and build equity," according to a press statement.  more...

Roommate.com must face fair housing charges Premium Content

By Inman News, Friday, April 4, 2008.

Roommate.com LLC, a company that operates a Web site that matches people with rooms to rent with tenants, may have violated fair housing laws by requiring users to disclose their sex, sexual orientation and whether they had children who would live them, an appeals court has ruled.  more...

Top leadership failed in credit crisis Premium Content

By Lou Barnes, Friday, April 4, 2008.

A steady fade in the job market has renewed concern for recession -- as usual, perversely good news for mortgages, again crossing below 6 percent.

Payrolls in March contracted by 80,000 jobs, and prior months' revisions clipped another 54,000. New claims for unemployment insurance spiked by 38,000 to 407,000, the worst week since Hurricane Katrina. The purchasing managers' surveys showed general business activity neither shrinking nor growing in March, and on a par with February.  more...

Sotheby's network opens first Japan office

By Inman News, Friday, April 4, 2008.

Sotheby's International Realty Affiliates LLC today announced the opening of Japan Sotheby's International Realty, its first office in that country.

The office is owned by Urban Corporation, a growing, integrated real estate company. In July 2007, the Sotheby's International Realty brand announced the signing of an exclusive 25-year licensing agreement for Japan with the company.  more...

Foreclosure relief bill debated on Senate floor Premium Content

By Inman News, Friday, April 4, 2008.

A bipartisan foreclosure relief bill put forward for debate in the Senate Thursday would permanently increase the limits for Federal Housing Administration loan guarantee programs, but did not include an ambitious plan to allow the FHA to help refinance up to 2 million troubled loans when lenders agree to write down their value.  more...

Real estate rates drop overnight

By Inman News, Friday, April 4, 2008.

Long-term mortgage interest rates dipped Thursday, and the benchmark 10-year Treasury bond yield decreased to 3.58 percent.

The 30-year fixed-rate average sank to 5.76 percent, and the 15-year fixed rate fell to 5.32 percent. The 1-year adjustable rate stayed at 5.7 percent.

The 30-year Treasury bond yield was down at 4.38 percent.

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