Home

House signs off on sweeping housing bill Premium Content

By Inman News, Thursday, May 8, 2008.

House lawmakers Thursday approved a sweeping housing bill that includes a controversial plan to expand FHA loan guarantee programs to help as many as 2 million troubled borrowers refinance into more affordable loans.

But the 266-154 vote to approve the package of bills, dubbed the American Housing Rescue and Foreclosure Prevention Act, fell short of the margin that would be needed to override President Bush's threat to veto the bill.  more...

Debate over biofuels, food supply intensifies

By Arrol Gellner, Thursday, May 8, 2008.

We Americans have happily given our cars the run of the country, paving over a good 40 percent of our cities so they can roam unfettered, and generously ceded a big chunk of our hard-earned homes to keep them warm and dry. But apparently that's not enough. Now some interests are suggesting that, in order to keep our four-wheeled friends tanked up at all costs, we share our food supply with them as well.  more...

Straw houses gaining acceptance despite concerns

By Paul Bianchina, Thursday, May 8, 2008.

When you're ready to go shopping for building materials for your next home, you may not need to go any further than the nearest hay field. Straw-bale houses are becoming increasing popular and accepted in many areas of the West and Southwest, and this method of construction can offer an interesting alternative to conventional building.  more...

Move Inc. loses $4.6 million in Q1

By Inman News, Thursday, May 8, 2008.

Realtor.com operator Move Inc. (NASDAQ: MOVE) reported Thursday that new product development costs and charges related to the elimination of some business units contributed to a $4.6 million net loss, or 3 cents per share, in the first quarter.

The company's quarterly loss compared with net income of $163,000 in first-quarter 2007.  more...

New York proposes 1-year moratorium on foreclosures

By Inman News, Thursday, May 8, 2008.

Legislation that would give some New Yorkers facing foreclosure a one-year reprieve has passed the state assembly as part of a package of four bills aimed at stemming foreclosures.  more...

Become resource for all things home ownership Premium Content

By Bernice Ross, Thursday, May 8, 2008.

(This is Part 3 of a three-part series. Read Part 1, "Specialization's the name of the game," and Part 2, "Attract attention, attract business." )  more...

May

8
2008

Move cancels 'transformational' venture before it launches

By Glenn Roberts Jr., Thursday, May 8, 2008.

Move Inc., which operates the most highly trafficked real estate search site in the country, reported a $4.6 million net loss in the first quarter and has canceled a project that had been led by the company's former Realtor.com president (watch Inman News for related story).  more...

Apartment markets show signs of stability

By Inman News, Thursday, May 8, 2008.

Demand for apartment homes remains strong, but the continued credit crunch is causing the volume of property sales to slow sharply and making it more difficult for apartment firms to access the debt and equity markets, according to the National Multi Housing Council's Quarterly Survey of Apartment Market Conditions.  more...

Ivy Equities sheds Raritan Plaza III

By Inman News, Thursday, May 8, 2008.

The Silverman Group purchased the 182,616-square-foot Raritan Plaza III office building in Edison, N.J., for an undisclosed price, brokerage Cushman & Wakefield announced today.

The property, located at 105 Fieldcrest Ave., is a six-story building featuring a newly renovated main lobby and cafeteria, as well as updated elevators, restrooms and corridors.

Ivy Equities sold the property at 96 percent occupancy, comprised of 27 tenants.  more...

Lagovent acquires Texas apartments

By Inman News, Thursday, May 8, 2008.

A two-property multifamily portfolio in Dallas, Texas, sold to a limited liability company for an undisclosed price.

The portfolio, purchased by Lagovent Real Estate Group LLC, comprises the 440-unit Wimberley Park and the 512-unit Camelot Village.

The seller's identity was not disclosed.  more...

Freddie Mac: Rates lower on 30-year mortgages

By Inman News, Thursday, May 8, 2008.

Long-term mortgage rates ended the week mixed, Freddie Mac reported today, with the 30-year fixed-rate average sinking slightly.

The average rate on 30-year fixed loans dipped to 6.05 percent from 6.06 percent one week ago, and averaged 6.21 percent a year ago, according to Freddie Mac. The average rate on 15-year fixed loans edged up from 5.59 percent to 5.6 percent, still below the 5.92 percent average reported this time last year.  more...

Real estate site debuts 'User Search'

By Inman News, Thursday, May 8, 2008.

BeatYouThere.com, a real estate search engine that allows registered users to comment on property listings and write reviews on real estate professionals, launched this week.  more...

Poll: Most buyers use rebates for closing costs, moving

By Inman News, Thursday, May 8, 2008.

Real estate brokerage company ZipRealty last month passed the $100 million mark in rebates awarded to home buyers, though the company continues to operate at a loss and its business model is banned by rebate restrictions in some states.

The company has lobbied aggressively to open up markets that restrict its rebate practice and is backing legislation in New Jersey that seeks to open up the practice of rebates in that state.  more...

Join the debate

By Matt Carter, Thursday, May 8, 2008.

If you haven't joined the debate over HUD's proposed changes to the Real Estate Settlement Procedures Act (RESPA), you've got another month to dive into an issue that could transform the way real estate is bought and sold. At the request of the industry -- backed by a letter signed by 148 members of Congress -- HUD has extended the public comment period on its proposed changes to RESPA from May 13 to June 12 (see story).  more...

FBI says Fannie Mae, Credit Suisse duped by fraudsters

By Inman News, Thursday, May 8, 2008.

Two former owners of a Brooklyn, N.Y.-based mortgage company face conspiracy, wire fraud and bank fraud charges stemming from Olympia Mortgage Corp.'s dealings with Fannie Mae and Credit Suisse First Boston.

Leib Pinter, 64, is accused of fraud in connection with the alleged theft of $44 million in proceeds from refinance loans funded by Fannie Mae.

Barry Goldstein, 59, allegedly sold nonperforming loans to Credit Suisse First Boston using falsified loan histories, prosecutors said.  more...

12next ›last »