Home

Investors partner to acquire Florida apartments

By Inman News, Thursday, October 28, 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...

Wholesaler sells Missouri warehouse

By Inman News, Thursday, October 28, 2004.

Binswanger/CBB negotiated the sale of a 480,999-square-foot distribution building in Sikeston, Mo.

The value of the transaction was not disclosed.

The property is located at 1500 West Malone on 38.5 acres.

JNS Holdings, a local investor, purchased the property from C&S Wholesale Grocers Inc., a privately owned company that provides distribution services to grocery chains and independent stores.

Philadelphia-based Binswanger/CBB is an international, full-service real estate organization.

***  more...

Inland Western buys first office property

By Inman News, Thursday, October 28, 2004.

Inland Western Retail Real Estate Trust Inc. has purchased its first office property, a three-building complex in Winston-Salem, N.C.

The 501,064-square-foot office property, which Inland Western bought for $60 million, features an 18-story north tower, a six-story south tower and a two-story daycare center. The buildings recently underwent a $7 million renovation, and millions more worth of improvements are still underway.  more...

MBA: Cheerleaders, stiltwalkers, popcorn and innovation

By Rebecca Hurwitz, Thursday, October 28, 2004.

Real estate fraudsters should pay up Premium Content

By Samantha Peterson, Thursday, October 28, 2004.

SAN FRANCISCO–Committing mortgage fraud should carry a cost to those who perpetrate it, from being reported to the police to having business dry up.

That's the view Erik Stein shared Tuesday afternoon during a session on identity theft and mortgage fraud at the Mortgage Bankers Association's annual convention.  more...

Real estate technology pioneer stirs up Manhattan market Premium Content

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

In 1994, after a career in banking and fashion consulting, LaLa Wang turned her attention to the real estate market in New York City.

"My husband and I were interested in selling coops and condos. We saw that the market was kind of inefficient. The more we became involved in looking to sell we thought, 'Why wasn't there a (multiple listing service) for consumers in Manhattan?  more...

REM: The Real Estate Marketplace Premium Content

By Bradley Inman, 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...

Home preferences differ between first-timers, repeat buyers

By Inman News, Thursday, October 28, 2004.

Younger buyers care more about closeness to schools, parks and playgrounds, while older buyers are more interested in a bedroom on the main level and prefer single-story homes, according to a new survey on home-buyer preferences by the National Association of Realtors.

Although most buyers choose homes located in suburbs or subdivisions, homes purchased by first-time buyers are more likely to be older and located in a central city, while repeat buyers are more likely to select a new home. Older buyers are more inclined to purchase in a small town.  more...

Low rates poised to fuel year-end home sales

By Inman News, Thursday, October 28, 2004.

Mortgage rates declined for the second consecutive week, boosting the outlook for new- and existing-home sales, according to Freddie Mac weekly mortgage survey.

Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.64 percent for the week ended today, down from last week when it averaged 5.69 percent. The average for the 15-year fixed-rate mortgage this week is 5.01 percent, also down from last week when it averaged 5.07 percent. Points on both the 30- and 15-year averaged 0.7.  more...

Home builder reports record earnings Premium Content

By Inman News, Thursday, October 28, 2004.

Home builder Standard Pacific Corp. reported a 26 percent increase in third-quarter earnings to a record $2.16 per share compared to $1.72 last year. Net income, at $74.6 million, was up 29 percent from the third quarter of 2003, and home-building revenues were up 39 percent to a record $866 million.  more...

Help-wanted ads decline

By Inman News, Thursday, October 28, 2004.

The Conference Board today reported that its Help-Wanted Advertising index – a key barometer of America's job market – dipped one point in September to 36.

In the last three months, help-wanted advertising declined in eight of the nine U.S. regions. Steepest declines occurred in the South Atlantic (-13 percent), New England (-10.8 percent), and West North Central (-9.9 percent) regions.  more...

Homestore forced to pay legal fees for former exec

By Inman News, Thursday, October 28, 2004.

The Court of Chancery of the State of Delaware has ruled that Homestore must pay former company executive Peter Tafeen all reasonable attorney's fees and costs in connection with the Securities and Exchange Commission and U.S.  more...

ABN AMRO's real estate loan production drops

By Inman News, Thursday, October 28, 2004.

ABN AMRO Mortgage Group's third-quarter production totals tumbled 69 percent from the same time a year ago, the company reported Wednesday.

The lender's production total for the third quarter of 2004 was $11.9 billion, down from $38.2 billion during the third quarter of 2003. Its production total for September reached $3.6 billion, a 60 percent drop from its $9.1 billion total in September 2003.  more...

Overnight real estate rates stall

By Inman News, Thursday, October 28, 2004.

Long-term mortgage interest rates were flat again Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.09 percent.

The 30-year fixed-rate average remained at 5.24 percent, and the 15-year fixed-rate held at 4.64 percent. The 1-year adjustable was unchanged at 3.21 percent.

The 30-year Treasury bond yield increased to 4.84 percent.

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