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Historic San Francisco building sold

By Inman News, Thursday, October 28, 2004.

Grubb & Ellis Co. represented Zapolski + Rudd LLC, a Napa, Calif.-based real estate investment and development company, in the purchase of the Gallo Building, an historic office building in San Francisco.

The transaction was valued at $14 million.

250 Brannan St. is a 104,000-square-foot office building located within three blocks of the Giants baseball stadium in the SOMA neighborhood. The property consists of the fully renovated 1907 brick and timber Gallo Building with an added 40,000 square feet of new construction and 100-car parking garage.  more...

Investors land Midwest mall

By Inman News, Thursday, October 28, 2004.

Marcus & Millichap negotiated the sale of The Plaza at Sawmill Place in Columbus, Ohio.

The value of the transaction was $19.5 million.

A New York-based investment partnership purchased the property from Lamar Cos. of Morristown, N.J.  more...

Six-building complex bought in San Diego County

By Inman News, Thursday, October 28, 2004.

Westcore Freightways LLC acquired Alpine Creek Center, a six-building, 73,402-square-foot retail center in Alpine, Calif.

The value of the transaction was $8.6 million. 

The seller was Alpine Creek Center Co.    

Alpine Creek Center is situated on 10.3 acres in the community of Alpine, which is located directly off Interstate 8 in east San Diego County.  more...

Real estate market to flatten in '05

By Inman News, Thursday, October 28, 2004.

Activity in the nation's booming housing industry should hold up at fairly robust levels into 2005, according to the consensus of economists participating in the National Association of Home Builders' Construction Forecast Conference at the National Housing Center in Washington, D.C. The conference, held twice yearly, brings together top experts from across the housing industry to discuss topical issues.  more...

Rethinking real estate business in a down cycle Premium Content

By Inman News, Thursday, October 28, 2004.

Over the next few years, real estate professionals will have to rethink how they do business as home sales ease from record levels and interest rates rise. Steve Ozonian, home-ownership executive for Bank of America, and HomeGain CEO Richard Sommer during an Inman News audio conference on Thursday discussed some of the upcoming changes for the real estate industry.

Ozonian foresees a downward pressure on commissions, and predicts more broker consolidation than in the past few years.  more...

Battle erupts over low-commission real estate model

By Glenn Roberts Jr., Thursday, October 28, 2004.

A real estate industry war has broken out in Florida over low-commission brokerage.

Home Discovere, a brokerage model with 2 percent and 4 percent total commission plans, has quickly become a top player in the Tampa-area market. Home Discovere started as a mortgage operation in September 2000, and rapidly grew to include a title company, a real estate brokerage company and a home services division.  more...

Visionaries pull back curtain on real estate future Premium Content

By Inman News, Thursday, October 28, 2004.

Editor's note: Looking ahead to 2010 we are optimistic that the real estate world will be better, but we also expect radical change. Paul Saffo, at the Institute for the Future, once said that in a two-year period less happens than we would have thought, and in a 10-year period more happens than we could ever imagine. This four-part series is a fun look at what the future may hold for the real estate industry. The predictions are not fact.  more...

Fences make the best neighbors

By Julie Brosterman, Thursday, October 28, 2004.

I pass by a house in the neighborhood that's been on the market for a few months. In spite of the beautiful décor, the house, which is tastefully done in a traditional shabby chic style, was pulled from the local MLS and has not sold.

The Realtor sign remains in the ground in front of the property, causing endless speculation from the other residents in the area. Is it too small? Priced too high? No pool? Have the owners decided just to stay put?

A crew arrives to take away the mystery.  more...

Gas prices, jobs take their toll on consumers

By Inman News, Thursday, October 28, 2004.

Rising energy prices and concerns about the sluggish pace of job growth caused consumer confidence to fall further in October, according to the latest University of Michigan Survey of Consumers.

"The overall decline in confidence was small as consumers concluded by the end of October that the surge in gas prices was nearly over and their apprehensions about future job growth lessened," according to Richard Curtin, the director of the University of Michigan's Surveys of Consumers.  more...

Regional real estate sales climb

By Inman News, Thursday, October 28, 2004.

Home sales across Ohio, North Carolina and Virginia in September outpaced their year-ago levels, while prices approached record-highs, according to Realtor associations in those states.

September's sales in Ohio bested the month's previous record results posted in 2003, with sales this year reaching 12,482, a 1.4 percent increase from the 12,304 sales last year, according to the Ohio Association of Realtors.  more...

Real estate: The week ahead

By Inman News, Thursday, October 28, 2004.

U.S., Mexico form real estate agreement

By Inman News, Thursday, October 28, 2004.

Home builders from the United States and Mexico have forged an agreement that is intended to open up more trade channels and improve the affordability and efficiency of the home-building process, the National Association of Home Builders announced today.  more...

LandAmerica enters mortgage subservicing business

By Inman News, Thursday, October 28, 2004.

LandAmerica Financial Group, a leading provider of real estate transaction services, has purchased LoanCare Servicing Center, the nation's 10th-largest mortgage loan subservicing company.

LandAmerica's decision to enter the loan subservicing industry adds another option for the company's client base.

"This move is a strategic step toward reaching LandAmerica's goal of becoming the premier provider of real estate transaction services," said Charles H. Foster Jr., chairman and CEO of LandAmerica Financial Group.  more...

Overnight real estate rates move higher

By Inman News, Thursday, October 28, 2004.

Long-term mortgage interest rates were higher Thursday, and the benchmark 10-year Treasury bond yield slipped to 4.06 percent.

The 30-year fixed-rate average rose to 5.28 percent, and the 15-year fixed-rate climbed to 4.68 percent. The 1-year adjustable was up at 3.23 percent.

The 30-year Treasury bond yield held at 4.84 percent.

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

Investors partner to acquire Florida apartments

By Inman News, Wednesday, October 27, 2004.

1031 Exchange Options facilitated the acquisition of a multifamily TIC investment, Polos on Park, in Tallahassee, Fla.

The value of the transaction was $31.8 million.

Polos on Park comprises 440 apartment units and includes a community clubhouse, a business center, swimming pools, spas, a tennis court, and a fitness center, as well as a lighted basketball court, library and car-care center.  more...

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