Archive - Jun 5, 2008

Date

Brokerage slapped for Web violations

By Glenn Roberts Jr., Thursday, June 5, 2008.

In January, the owners of condo-search site CondoDomain.com overhauled their business model and launched brokerage operations.

But joining the region's multiple listing service had the unintended consequence of knocking the company's online search tools out of compliance with MLS rules.

To address the violations, CondoDomain.com has pulled back some of its Web site's features behind a registration wall so that only registered members of the site can have access to them. more...

Feds OK BofA, Countrywide merger

By Inman News, Thursday, June 5, 2008.

The following is a real estate news roundup:

Feds OK Bank of America, Countrywide merger more...

Shopping for wallpaper made easy

By Paul Bianchina, Thursday, June 5, 2008.

There are two things you can pretty much be assured of when it comes to wallpaper: The right paper can make a dramatic decorating difference in a room, and actually finding the right paper can be an overwhelmingly daunting task.

Go into any wallpaper store, paint store, home center or other retailer and you'll be confronted with dozens if not hundreds of wallpaper sample books. Considering that each book may contain upwards of a hundred or more different papers, you can see how quickly the number of choices you have can run well into the thousands. more...

Home won't sell? Rental strategy may work

By Tom Kelly, Thursday, June 5, 2008.

It's a sign of the times: Many homes are taking longer to sell, and sellers are accepting less than they imagined.

While it's often critical to pull out the equity in a primary residence in order to buy another primary residence, the Internal Revenue Service provides a relatively new advantage for homeowners who must rent out their property now because of a slow sales market. Instead of selling it later and paying a capital gain as an investment property sale, owners can take out tax-free cash and defer the remainder via a tax-deferred exchange. more...

Double standards hamper green building

By Arrol Gellner, Thursday, June 5, 2008.

(This is Part 1 of a two-part series.)

"Green buildings use durable materials that are salvaged, have recycled content or came from rapidly renewable resources. These materials significantly reduce the environmental destruction associated with the extraction, processing and transportation of virgin materials." more...

Media create foreclosure hysteria

By Bernice Ross, Thursday, June 5, 2008.

When RealtyTrac released the latest foreclosure numbers in mid-May, the newspapers all reported that "Foreclosures are up by 65 percent!" Today's column looks at the same numbers and arrives at a very different conclusion. more...

Staples renews Jersey lease

By Inman News, Thursday, June 5, 2008.

Staples Inc., the office supply retail store chain, has renewed its long-term lease for 204,000 square feet of warehouse/industrial space in Monroe Township, N.J., for an undisclosed price.

Staples established warehouse/office operations at the building, which is located at 21 S. Middlesex Ave., in 1993.

TIAA-CREF, the national financial services provider, owns the building. more...

Walgreens stores traded for $10M

By Inman News, Thursday, June 5, 2008.

NAI BT Commercial this week announced the sale of two Walgreens-occupied properties -- one in Opelika, Ala., and one in Cedar City, Utah.

The total value of the transactions was more than $10.4 million.

In the Alabama deal, a developer sold the approximately 14,500-square-foot property to a private investor for $5.1 million, or $346 per square foot.

In the Utah transaction, a developer sold the approximately 14,500-square-foot property to a private investor for a slightly higher price of $5.3 million, or $368 per square foot. more...

SoCal industrial, office space sold

By Inman News, Thursday, June 5, 2008.

Voit Commercial Brokerage today announced it recently closed three transactions totaling $7.7 million in Corona, Calif.

In the first transaction, sporting goods retailer Monkeysports Inc. signed a seven-year lease for a 113,500-square-foot industrial property for $4.2 million. The property, owned by Magnolia Trademark Center, is located at 1550 Magnolia Ave., Units 101 and 103. more...

New iPhone Apps for Real Estate

By Inman News, Thursday, June 5, 2008.

First Real Estate Apps for iPhone Start to Leak Out
By Joel Burslem at Future of Real Estate Marketing more...

Borrowers get a crack at lending black box

By Matt Carter, Thursday, June 5, 2008.

Editor's note: Part 1 of a three-part series on new online mortgage tools kicks off with a look at LendingArt.com.

If lenders once had the upper hand over borrowers shopping for a mortgage over the Internet -- thanks in part because of Web sites that sell an applicant's personal information as leads -- the balance of power may be shifting to consumers. more...

New HUD secretary confirmed; MBA sees rising foreclosures

By Inman News, Thursday, June 5, 2008.

The following is a real estate news roundup:

Preston confirmed as housing secretary more...

No bottom for California city's home prices?

By Inman News, Thursday, June 5, 2008.

"Negative absorption" in Santa Maria

Santa Maria, Calif., a city in northern Santa Barbara County, is facing five years of negative absorption for residential real estate, meaning it will need fewer homes as people leave to find jobs elsewhere, CalculatedRisk reports, citing a local land developer as a source. more...

The making of a merger

By Glenn Roberts Jr., Thursday, June 5, 2008.

Equitable Sotheby's International Realty in Scottsdale, Ariz., has merged with Russ Lyon Real Estate Co. in Scottsdale to form the largest franchise in the Sotheby's network.

The franchise network, a part of Realogy Corp., has about 9,500 sales associates in about 485 offices in the United States and 32 other countries and territories. more...

EscapeHomes acquired; SecondSpace pulls in MLS partners

By Inman News, Thursday, June 5, 2008.

The following is a roundup of real estate technology news:

HomeAway acquires EscapeHomes.com

HomeAway Inc., an Austin, Texas-based international network of vacation rental Web sites, has acquired EscapeHomes.com, a Web site that connects buyers and sellers of second homes and resort real estate. The terms of the deal were not disclosed. more...

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