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Little voices drive an agent crazy

By Kris Berg, Tuesday, May 6, 2008.

Editor's note: Inman News would like to introduce the first column in what will be a regular series from well-known real estate blogger and broker associate Kris Berg.

It has been one of those weeks. If there was ever a career that took multitasking to extremes, it is real estate. The little voices just never give it a rest.

When was the last time you updated that Web site? Haven't twittered much lately, have we? Why does the face in your Facebook look suspiciously like a default question mark, doofus? Two whole friends! My, aren't we the popular one?  more...

HouseValues narrows Q1 loss to $1.2 million

By Inman News, Tuesday, May 6, 2008.

More cost-cutting at HouseValues Inc. helped the provider of online tools for real estate professionals and real estate search sites for consumers trim first-quarter losses to $1.2 million, company officials said Tuesday.  more...

Cordless drill a great Father's Day gift

By Bill and Kevin Burnett, Tuesday, May 6, 2008.

A few weeks ago we wrote about how Kevin helped a customer at the Home Depot find the right bit to drill a hole in ceramic tile. As often happens, the answer raised another question from one of our readers, Dave, who wrote:

"Since you mentioned drill-buying in this week's column, do you think a Makita 12-volt cordless drill would handle most small to medium home projects? Is going up to 14.4 volts excessive for occasional use?"  more...

Despite housing crunch, boomers still buying in Mexico

By Tom Kelly, Tuesday, May 6, 2008.

The baby boomer generation continues to drive the search for second homes, not just in the United States but in Mexico and throughout Latin America as well.

According to a new survey from the National Association of Realtors, vacation- and investment-home sales declined with the overall market in 2007, but still accounted for 33 percent of all existing- and new-home sales.  more...

Regulators cut Fannie Mae more slack Premium Content

By Inman News, Tuesday, May 6, 2008.

Federal regulators have formally lifted many restrictions imposed on government-chartered mortgage financer Fannie Mae in the wake of accounting and management scandals, even as the company reported a $2.2 billion first-quarter loss and predicted losses will grow in 2009.  more...

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Finding a bottom

By Matt Carter, Tuesday, May 6, 2008.

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Commercial, multifamily loan originations hit record in '07

By Inman News, Tuesday, May 6, 2008.

The commercial/multifamily originations market grew 19 percent in 2007, with mortgage bankers closing $507.7 billion in commercial/multifamily loans, the Mortgage Bankers Association reported today.  more...

D.C. building purchased for $76M

By Inman News, Tuesday, May 6, 2008.

Sumitomo Corp. of America purchased 1750 K St. NW, a 152,470-square-foot office building in Washington, D.C., for $76 million, brokerage Holiday Fenoglio Fowler LP announced today.

Bernstein Cos. sold the facility to Sumitomo, which purchased the property free and clear of debt. The 12-story, mid-block office building is located three blocks from the White House in the "Golden Triangle" Business Improvement District.

At the time of sale, 1750 K St. NW was fully occupied by six tenants that included the law firm of Wiley, Rein LP.  more...

CORT signs at San Diego warehouse

By Inman News, Tuesday, May 6, 2008.

Furniture rental company CORT Business Services signed an eight-year lease for distribution space in San Diego, Calif., property owner Westcore Properties announced Monday.

CORT paid $3.3 million for the lease term.

Located just north of Miramar Road at 9404 Cabot Drive, the single-tenant, free-standing building comprises 46,908 square feet and is part of the Miramar Industrial Center, a three-building warehouse and industrial project totaling 227,000 square feet. The building features nearly 5,000 square feet of office space and eight dock-high loading positions.  more...

Market (mis)timing

By Matt Carter, Tuesday, May 6, 2008.

More than half of folks who bought into the housing market in 2006 are now upside down, and in places like Las Vegas it's about nine out of ten -- if you want to take Zillow.com's automated home valuations at face value (see story). Whether the numbers are spot on or not, the potential implications -- more foreclosure inventory as borrowers lose their motivation to keep up their mortgage payments -- are ominous.  more...

Homethinking cracks Fed's loan database Premium Content

By Matt Carter, Tuesday, May 6, 2008.

Would-be home buyers now have easy access to a database of millions of mortgage applications through Homethinking.com, helping them see lenders who have the biggest presence in their market and details about the loans they've made.

Providing a user-friendly way to access the Federal Reserve's Home Mortgage Disclosure Act (HMDA) database could help home buyers and real estate professionals choose a lender, and determine how past lending practices may affect particular markets as the credit crunch continues, said Homethinking LLC founder Niki Scevak.  more...

ZipRealty, Rent.com improve real estate Web rankings Premium Content

By Inman News, Tuesday, May 6, 2008.

Real estate brokerage company Web site ZipRealty.com and apartment portal Rent.com were the two sites to move up ranks in the top-five most-visited industry Web sites in April, metrics company Hitwise reported Tuesday.

ZipRealty improved its ranking to fourth from fifth in March, while Rent.com also moved up a spot to fifth from the previous month.  more...

Zindex: Home values drop 7.7% year-over-year

By Glenn Roberts Jr., Tuesday, May 6, 2008.

Home values in the first quarter fell 7.7 percent compared to the same quarter last year, according to an index based on Zillow.com's automated home valuations.

It was the steepest year-over-year drop in the past 12 years, according to Zillow's Zindex report, released today.  more...

$300 billion FHA refi plan to be part of package

By Inman News, Tuesday, May 6, 2008.

The House of Representatives is expected to vote next week on a package of bills including a $300 billion expansion of Federal Housing Administration loan guarantee programs and a $7,500 credit for first-time home buyers sought by home builders.

The package will also include measures sought by the Bush administration, including legislation updating FHA loan guarantee programs and stricter independent oversight of Fannie Mae and Freddie Mac, Rep. Barney Frank said.  more...

Nightly real estate rates inch up

By Inman News, Tuesday, May 6, 2008.

Long-term mortgage interest rates increased again Monday, and the benchmark 10-year Treasury bond yield rose to 3.87 percent.

The 30-year fixed-rate average climbed to 5.78 percent, and the 15-year fixed rate edged up to 5.36 percent. Meanwhile, the 1-year adjustable rate rose to 5.91 percent.

The 30-year Treasury bond yield rose to 4.6 percent.

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