Home

Family trust dumps West L.A. apartments

By Inman News, Thursday, October 7, 2004.

Westcord Commercial Real Estate Services brokered the sale of a fully occupied, 60-unit apartment complex in the Westwood area of Los Angeles.

The value of the transaction was approximately $12.8 million.

1260 Veteran Ltd., an affiliate of Realty Center Management Inc.  more...

Harsch grows Seattle-area office portfolio

By Inman News, Thursday, October 7, 2004.

Harsch Investment Properties acquired Plaza 520 Business Park, a 130,195-square-foot, multitenant business park in Bellevue, Wash.

The value of the transaction was $20 million.

The property is located on the corner of 130th Avenue N.E. and Northrup Way. The seller, Peter Jouflas, originally developed the 11-building, 11.8-acre project in 1978.

This acquisition marks the third major Puget Sound purchase Harsch has made this year.  more...

Self-storage facility sold in New York City

By Inman News, Thursday, October 7, 2004.

Marcus & Millichap negotiated the sale of an 82,000-square-foot Storage Deluxe property in the Bronx, N.Y. 

The value of the transaction was approximately $14.2 million.

A New York investment partnership sold the property to Salt Lake City-based Extra Space Storage.

The Storage Deluxe facility is located at 245 W. Fordham Road. The building was completely renovated and converted to self-storage by the seller in 1999.

The property's 1,270 storage units were 87 percent occupied at the time of sale.  more...

Lenders victimized in real estate fraud

By Inman News, Thursday, October 7, 2004.

The Mortgage Bankers Association today testified before the House Financial Services Subcommittee on Housing and Community Opportunity, urging stronger enforcement, better communication between law enforcement and the industry, and increased innovation to identify and prosecute those who commit fraud against mortgage lenders.

"Today, mortgage industry leaders are extremely concerned that mortgage fraud against the lending community has gr  more...

The road to downtown real estate Premium Content

By Jessica Swesey, Thursday, October 7, 2004.

"Location, location, location" is an age-old axiom in real estate. In this three-part series, we look at how the location factor in real estate is changing. While location is still significant when considering real estate values, in many cases the hot spots themselves have migrated to what used to be dilapidated, inner-city neighborhoods. Learn what other trends are developing.  more...

Mortgage rates rise on economic optimism

By Inman News, Thursday, October 7, 2004.

Mortgage rates climbed for the second consecutive week on news that the economy may soon be improving, according to surveys conducted by mortgage buyer Freddie Mac and Bankrate.

In Freddie Mac's weekly survey, the 30-year fixed-rate mortgage averaged 5.82 percent for the week ended today, up from last week when it averaged 5.72 percent. The average for the 15-year fixed-rate mortgage this week is 5.24 percent, also up from last week when it averaged 5.12 percent.  more...

Realtors innovate on digital transaction

By Inman News, Thursday, October 7, 2004.

We have said here before, the average home sale is packed with too much paperwork, forms and signatures. We type on computers, but the typical real estate transaction seems to be performed on an antique typewriter. Consumers must slog through an inefficient mess to achieve the American Dream.  more...

Realtor.com hikes prices on optional services

By Inman News, Thursday, October 7, 2004.

Realtor.com, a top site for home listings that is affiliated with the National Association of Realtors, is raising its prices for some optional listing services. Basic online listing services at Realtor.com, which include a text description of the property and one photo, are still available to Realtors at no cost.

The price increases are related to site upgrades and expansion of the site's consumer base.  more...

Real estate groups for Latino home ownership

By Inman News, Thursday, October 7, 2004.

Several real estate organizations have launched a new initiative designed to expand home-ownership opportunities for Latino families in California.  more...

Countrywide, Brookfield Homes enter joint venture

By Inman News, Thursday, October 7, 2004.

Countrywide and Brookfield Homes today announced the formation of BHI Mortgage, a mortgage company that will serve home buyers in California's Riverside and San Diego counties.

BHI Mortgage, an operating Series of Countrywide Mortgage Ventures, will offer qualified home buyers zero down-payment loans and a variety of fixed- and adjustable-rate options with optimum flexibility on rate and terms.  more...

eNeighborhoods buys WyldFyre Technologies Premium Content

By Inman News, Thursday, October 7, 2004. In its second real estate technology acquisition since July, eNeighborhoods has acquired WyldFyre Technologies from Homestore.  more...

Overnight mortgage rates rise

By Inman News, Thursday, October 7, 2004.

Long-term mortgage interest rates were higher Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.22 percent.

The 30-year fixed-rate average inched up to 5.43 percent, and the 15-year fixed-rate increased to 4.83 percent. The 1-year adjustable was unchanged at 3.27 percent.

The 30-year Treasury bond yield jumped to 4.97 percent.

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