Home

California MLS prepares for launch Premium Content

By Glenn Roberts Jr., Thursday, May 29, 2008.

Board members for California MLS, a nonprofit, wholly owned subsidiary of the California Association of Realtors, will soon begin the process in selecting a vendor to operate a statewide property information database that could become the default MLS system for Realtors.

The CALMLS board, appointed this month by California Association of Realtors officers, has 17 members who are all real estate agents or brokers and is led by Mike Silvas, broker-owner of Napa-based Morgan Lane Inc.

Silvas, who had served on an MLS task force for the state Realtor group also served as a member of the board of directors for Real Estate Business Technologies, another subsidiary of the state Realtor association, said CALMLS represents a "historic opportunity" for industry participants.  more...

Deck-staining that can't fail

By Paul Bianchina, Thursday, May 29, 2008.

Q: I have a deck that was built in October 2006. Does it need to be stained this soon? This will be my first deck-staining experience, and I was also wondering what things to be aware of, and if there are any suggestions for easier application, especially on the posts and railings. --Margaret M.

A: Staining a deck offers lots of advantages, and I recommend doing a new deck as soon as the wood has dried and settled in. Yours could be done at any time the weather conditions are appropriate, and should be repeated every couple of years, depending on weather conditions.  more...

Where's the beef in home-price reports? Premium Content

By Bernice Ross, Thursday, May 29, 2008.

(This is Part 2 of a two-part series. Read Part 1, "Put a gag on Chicken Little.")

The Case-Shiller Index portrays itself as being "the leading measure of U.S. home prices," according to a Standard & Poor's press release from April. Given how much press the index receives, it may very well be the leader -- the leader in inaccuracy.  more...

May

29
2008

Big houses and the billionaires who love them

By Glenn Roberts Jr., Thursday, May 29, 2008.

A billionaire's planned construction of "the world's most expensive home" has soured, Forbes.com reports. Tim Blixseth, owner of The Yellowstone Club near Big Sky, Mont., had plans to build a home valued at $155 million on a 160-acre lot. That undeveloped lot -- the "superhouse" was never built -- has sold for $10 million, Forbes reports.  more...

Florida home buyers get Roost

By Inman News, Thursday, May 29, 2008.

Real estate search platform Roost has expanded its coverage of for-sale listings in Florida through partnerships with multiple listings services in greater Orlando, Miami and Tampa Bay, the company said in separate press releases this month.  more...

Inside the mind of Properazzi CEO

By Inman News, Thursday, May 29, 2008.
Yannick Laclau

Yannick Laclau is CEO and founder of Properazzi, an international property Web site that aims to connect real estate agents and developers with new buyers.

Properazzi is now open to agents from the U.S., Dubai, South Africa and Mexico, as well as across Europe and India. The company plans to continue expanding into new locations this year.

Laclau is passionate about opening up the world of real estate through online technologies.  more...

Prudential feeds Propsmart, Zillow

By Inman News, Thursday, May 29, 2008.

Prudential Real Estate Affiliates, a franchise network with about 2,100 offices and 64,000 sales professionals, today announced a distribution agreement to feed about 140,000 property listings to real estate sites Zillow.com and Propsmart.com.  more...

Nightly real estate rates ride higher

By Inman News, Thursday, May 29, 2008.

Long-term mortgage interest rates increased again Wednesday, and the benchmark 10-year Treasury bond yield climbed to 4.01 percent.

The 30-year fixed-rate average rose to 5.95 percent, and the 15-year fixed rate gained to 5.52 percent. Meanwhile, the 1-year adjustable rate increased to 5.92 percent.

The 30-year Treasury bond yield edged up to 4.69 percent.

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

The Texas Ratio

By Matt Carter, Thursday, May 29, 2008.

There's been a lot of speculation about how many banks will go under as the mortgage loans they made during the housing boom go bad -- speculation that's been spurred in part by news that the FDIC is adding staff to deal with expected bank failures.  more...

Change of plans

By Matt Carter, Thursday, May 29, 2008.

Some Hollywood moguls who were ready to build a $282 million movie production studio they claimed would bring 2,000 high paying jobs and "a river-like flow" of movie and television shoots to the tiny community of Plymouth, Mass. are getting an education in clearing title.  more...