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Retail center sells in Georgia

By Inman News, Tuesday, November 30, 2004.

CB Richard Ellis' Retail Investment Properties Group represented The Sofran Group in the sale of a 76,224-square-foot retail center in Villa Rica, Ga.

The value of the transaction was $13.8 million.

Built earlier this year, The Village at Mirror Lake retail center is located directly off Mirror Lake Boulevard near Interstate 20. The property is anchored by a Publix and has an abundance of parking.

Bethesda, Md.-based Village at Mirror Lake LLC purchased the property.

Jackson Corporate Real Estate represented the buyer in the transaction.  more...

Bascom buys high-rise apartments

By Inman News, Tuesday, November 30, 2004.

Bascom Northwest Ventures acquired a high-rise apartment community totaling 351 units in downtown Seattle, Wash.

The value of the transaction was $37.3 million.

The Nettleton Apartments, consisting of an entire city block in downtown Seattle, consists of two 14-story buildings constructed in 1951. The unit mix consists of 14 percent studios at approximately 350 square feet; 58 percent 1-bedroom, 1-bath units at 571 square feet; 26 percent 2-bedroom, 1-bath units at 763 square feet; and 1 percent 2-bedroom, 2-bath units at 1,130 square feet.  more...

East Coast manufacturing center changes hands

By Inman News, Tuesday, November 30, 2004.

Marcus & Millichap brokered the sale of a recently constructed 131,925-square-foot facility in Mt. Pleasant, Pa.

The value of the transaction was $11.9 million.

The property, occupied by ABB Inc., a supplier of high-voltage transformers for electrical power systems, is located at 100 Distribution Circle. The property was completed in 2003 and is situated on approximately 20 acres. The building is an administration, assembly, testing and distribution facility for ABB.

A Dallas, Texas-based developer sold the property to a Palm Springs, Calif.-based investor.  more...

Appeal unresolved in online FSBO ruling Premium Content

By Glenn Roberts Jr., Tuesday, November 30, 2004.

The state of California has not yet decided whether to appeal a federal court ruling earlier this month that found a real estate law violates First Amendment rights.

The Sacramento court decision, by U.S.  more...

Cendant enters online real estate lead business Premium Content

By Inman News, Tuesday, November 30, 2004.

The Cendant Real Estate Franchise Group today announced the launch of a new lead-management system that captures Internet leads from home buyers and sellers, matches the lead with a sales associate, and informs the associate about the lead via telephone.

The LeadRouter system was developed for the brokers within its Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA and Sotheby's International Realty brand networks. Cendant has a business methods patent pending with the U.S.  more...

Innovations in streamlined home sales Premium Content

By Glenn Roberts Jr., Tuesday, November 30, 2004.

Editor's note: The paperless real estate transaction is back in vogue. Big companies, trade groups and entrepreneurs are investing in technology platforms, back-end systems and software to automate the home sale. This three-part series looks at new technologies that are streamlining various parts of the real estate process, making it less cumbersome, costly and time consuming.  more...

Real estate marketing turns heads, profits Premium Content

By Howard Brinton, Tuesday, November 30, 2004.

So, you are reluctant to cold-call because of the no-call lists. How about trying this instead?  more...

Real estate wealth fuels consumer spending Premium Content

By Inman News, Tuesday, November 30, 2004.

Housing wealth has a more immediate impact on consumer spending than stock wealth and has sustained the U.S. economy since the beginning of this decade, according to a new study produced by the Joint Center for Housing Studies of Harvard University and Macroeconomic Advisers LCC, and commissioned by the National Association of Realtors.

David Lereah, NAR's chief economist, said the study, "Housing Wealth Effects," shows a large difference between the impact of housing wealth and stock wealth on consumer spending, particularly during the last economic downturn.  more...

Texas landlord accused of housing discrimination

By Inman News, Tuesday, November 30, 2004.

The U.S. Department of Housing and Urban Development said today it has charged Georgia Crumbly, a Bonham, Texas, leasing agent, and Johnny Brown, an apartment building owner, with violating the Fair Housing Act for refusing to rent an apartment to an African American, Bennie Rogers, based on his race and color.

HUD's investigation showed that Rogers saw a newspaper rental advertisement for an apartment at 815 Poplar St. in Bonham. On March 12, 2004, Rogers called and arranged to meet leasing agent Crumbly and view the apartment.  more...

New home-ownership program launches in Colorado

By Inman News, Tuesday, November 30, 2004.

Several groups have combined forces to offer a first-time home-ownership program for Colorado families.

The National Organization of African Americans in Housing, Colorado Housing and Finance Authority and Mortgage Guaranty Insurance Corp. unveiled the program during a National Association of State Housing Agencies' annual conference in Chicago, Ill.  more...

Demand rises for real estate fraud prevention tool

By Inman News, Tuesday, November 30, 2004.

Demand for a service used to verify borrowers' income on real estate loan applications has climbed more than 300 percent over the past four months, according to AppIntelligence, a provider of data integrity, fraud prevention, risk assessment and compliance tools for the residential lending industry.  more...

Fannie, Freddie increase real estate loan limits

By Inman News, Tuesday, November 30, 2004.

Freddie Mac and Fannie Mae may purchase single-family mortgage loans up to $359,650 effective Jan. 1, 2005, the Office of Federal Housing Enterprise Oversight announced today.

The previous limit on single-family mortgage loans was $333,700. The increase in conforming loan limits is based on the October-to-October changes in the average house prices, as published by the Federal Housing Finance Board, and on supervisory guidance issued by OFHEO, the federal regulator of Fannie and Freddie.  more...

Job woes hurt consumer confidence

By Inman News, Tuesday, November 30, 2004.

Consumer confidence fell for the fourth consecutive month in November, private research group The Conference Board reported today.

The Conference Board's consumer confidence index now stands at 90.5 (1985=100), down from 92.9 in October. The survey is based on a sample of 5,000 U.S. households.

The expectations index in November declined to 87.4 from 92.2 in October. The present situation index edged up to 95.2 from 94.  more...

Overnight real estate rates climb

By Inman News, Tuesday, November 30, 2004.

Long-term mortgage interest rates were higher Monday, and the benchmark 10-year Treasury bond yield rose to 4.32 percent.

The 30-year fixed-rate average gained to 5.37 percent, and the 15-year fixed-rate increased to 4.81 percent. The 1-year adjustable was up at 3.41 percent.

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

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

Colliers brokers Georgia industrial deals

By Inman News, Monday, November 29, 2004.

Colliers Investment Services Group closed the sale of three industrial buildings totaling more than 316,000 square feet in metropolitan Atlanta.

The total value of the transactions was more than $15.2 million.

On behalf of Chicago-based First Industrial Development Services Inc., Colliers sold 1075 Northfield Court in Roswell, Ga., for more than $7.2 million. A local, private investor acquired the 152,000-square-foot property that is leased by tenants such as Kimberly Clark and The Mattress Firm.  more...

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