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Joint venture dumps new multifamily property

By Inman News, Tuesday, November 9, 2004.

Marcus & Millichap negotiated the sale of the newly constructed Lakes at Viera East Apartments in Viera, Fla.

The value of the transaction was $18.15 million.

A Tampa, Fla., investment partnership sold the property to an Amherst, N.Y.-based investment group.

The Lakes at Viera East is located at 1707 Sophias Drive. The class A property includes 200 garden-style units. The unit mix includes 72 one-bedroom, 88 two-bedroom and 40 three-bedroom floor plans, which range in size from 770 to 1,355 square feet.  more...

NewBridge arranges Alabama retail sale

By Inman News, Tuesday, November 9, 2004.

NewBridge Retail Advisors represented the seller in the disposition of The Shoppes at Letson Farms in McCall, Ala.

The value of the transaction was not disclosed.

VWS McAdory Market LLC and VWS McAdory Center LLC sold the property to Letson Farms Associates LLC.

The Shoppes at Letson Farms is a 95,092-square-foot Food World-anchored community center located on 15.5 acres at the intersection of Eastern Valley Road and Bell Hill Road.

Additional tenants include Realty South, Movie Gallery, San Antonio Grill, and McCalla Orthodontic.  more...

Texas apartments sold to out-of-state buyer

By Inman News, Tuesday, November 9, 2004.

Hendricks & Partners brokered the sale of Jefferson at La Valencia, a 384-unit apartment community in Dallas, Texas.

The value of the transaction was not disclosed.

The property is located at 10106 Technology Boulevard West.

Jefferson at the Lake L.P. sold the property to Louisville, Ky.-based Aslan Acquisition LLC.

Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties.

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Real estate lenders, brokers need tech connection Premium Content

By Samantha Peterson, Tuesday, November 9, 2004.

Technology that connects mortgage brokers and wholesale lenders has become as critical to lenders as their core loan operating systems, according to a new research report from The TowerGroup.

Mortgage brokers–an integral part of many lenders' business–increasingly expect tools that connect them with lenders they do business with, and tools that offer other features such as reducing the number of steps in the process.  more...

Prudential offers quality service certification

By Inman News, Tuesday, November 9, 2004.

Prudential Real Estate Affiliates has introduced Quality Service Certification to its network. QSC provides a service guarantee that holds the company's sales professionals to a higher degree of accountability.

"The QSC program provides a competitive differentiator in the marketplace for our real estate brokerages and their sales professionals," said Earl Lee, president of Prudential Real Estate Affiliates. "It provides another way for our real estate sales professionals to distinguish themselves by providing a service guarantee."  more...

Ellie Mae revamps loan origination system

By Inman News, Tuesday, November 9, 2004.

Ellie Mae today announced the release of version 2.0 of its Encompass mortgage management system at the Western Regional Mortgage Brokers Conference in Las Vegas.  more...

Real estate lead screening program takes off

By Inman News, Tuesday, November 9, 2004.

Reply! Inc. has implemented a new lead validation process that aims to deliver high-quality real estate leads to its member agents and brokers. Through its new program, Reply.com reviews, qualifies and validates every consumer inquiry for realty services it receives.  more...

Real estate brokerage arms agents with smartphones

By Inman News, Tuesday, November 9, 2004.

IndyMac eases real estate loan qualification process

By Inman News, Tuesday, November 9, 2004.

IndyMac Bancorp today announced that customers can now select multiple loan products when submitting a pre-qualification through QuickPricer, the company's online pre-qualification, pricing and rate-locking platform.  more...

SharperLending enhances point-of-sale loan features

By Inman News, Tuesday, November 9, 2004.

SharperLending has expanded its automated loan compliance offerings through a strategic alliance with ComplianceEase, whose Web-based compliance system will be integrated with the SharperLending platform.  more...

ZipRealty unleashes stock this week

By Inman News, Tuesday, November 9, 2004.

Online real estate brokerage ZipRealty is set to start offering shares on Wall Street this week at $10 to $12 per share, according to filings with the Securities and Exchange Commission. Its common stock will be listed on the Nasdaq National Market under the symbol "ZIPR."

The company set its IPO at 4.55 million shares, which it expects will net proceeds of about $44.5 million, and said it will use money raised from the offering to generate working capital.  more...

Cyber-conference puts new spin on real estate shopping

By Inman News, Tuesday, November 9, 2004.

A San Diego Web-based real estate company is offering consumers the opportunity to participate in live "Cyber Conferences" with Realtors who help guide their online home searches.  more...

Countrywide's real estate loan fundings drop

By Inman News, Tuesday, November 9, 2004.

Countrywide Financial Corp.'s total loan fundings for October were $29 billion, a decline of 6 percent from the prior month but an increase of 1 percent from October 2003, according to the company's October operational data released today.

Other highlights include:

  • Monthly purchase volume was $15 billion, a 12 percent decrease from the previous month but a 20 percent increase over October 2003's level. Year-to-date purchase activity now stands at $145 billion, exceeding 2003's full year level of $130 billion.  more...

Sales soar for East Coast real estate brokerage

By Inman News, Tuesday, November 9, 2004.

The Long & Foster Cos. on Monday reported October sales for all of its companies totaled $4.6 billion, an increase of 24 percent over October 2003. The company said it was the best October in its 36-year history.

Long & Foster sales continued strong for the first ten months of 2004, and they are up a dramatic 30 percent year-to-date-over last year's record levels, the company reported.

The numbers include: Long & Foster Real Estate Inc.  more...

Overnight real estate rates post gains

By Inman News, Tuesday, November 9, 2004.

Long-term mortgage interest rates were higher Monday, and the benchmark 10-year Treasury bond yield jumped to 4.21 percent.

The 30-year fixed-rate average rose to 5.34 percent, and the 15-year fixed-rate gained to 4.76 percent. The 1-year adjustable was up at 3.28 percent.

The 30-year Treasury bond yield climbed to 4.93 percent.

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