By Jessica Swesey, Wednesday, December 1, 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...
By Inman News, Wednesday, December 1, 2004. Topaz Systems and WWNotary have partnered to provide a Web-based electronic notarization product. With WWNotary's DigaSign electronic notarization product, users in industries such as real estate, government, law, insurance, title and banking can add their unique biometric signatures to documents and processes transacted with DigaSign's digital signature and encryption technology. more...
By Inman News, Wednesday, December 1, 2004. Inland Western Retail Real Estate Trust purchased Gurnee Town Centre, a 179,730-square-foot shopping center in Gurnee, Ill. The shopping center, bought for approximately $44.3 million, is anchored by Linens n' Things, Old Navy, Borders, Cost Plus and Pier 1. The 2-year-old Gurnee Town Centre, sold by Rubloff Gurnee Town Centre LLC, is located at 7105 Grand Ave. This is the second Chicago-area property for Inland Western, which purchased the Darien Towne Center earlier this year. more...
By Inman News, Wednesday, December 1, 2004. Essex Property Trust acquired The Esplanade Apartments, a 278-unit apartment community in San Jose, Calif. The value of the transaction was approximately $60.5 million. Esplanade Apartments was built in 2002 with a unique "row-house" facade and a variety of exterior finishes, projecting a condominium-type look. more...
By Inman News, Wednesday, December 1, 2004. Marcus & Millichap arranged the sale of the 88-unit Madison Manor Apartments in San Diego, Calif. The value of the transaction was $14.1 million. A Southern California-based private investor sold the property to a San Diego-based developer. more...
By Inman News, Wednesday, December 1, 2004. Online classified site LiveDeal.com formally launched this month, offering free online classified listings to sellers of all types of goods, including homes. more...
By Inman News, Wednesday, December 1, 2004. Weichert, Realtors today announced it recently added 11 franchises in the New England and Mid-Atlantic region, through its Weichert Real Estate Affiliates organization, which now has 116 franchises across 16 states. The newest Weichert affiliates include: - Weichert, Realtors-Lambro & Urrutia, Smithtown, N.Y. more...
By Inman News, Wednesday, December 1, 2004. The Federal Trade Commission today announced the three nationwide consumer reporting companies – Equifax, Experian, and TransUnion – will begin processing consumers' requests today for free annual credit reports at www.annualcreditreport.com. A credit report contains consumers' identification information; payment history with different creditors; a list of inquiries made by various financial institutions; and information on the public record, such as foreclosures or bankruptcies. more...
By Inman News, Wednesday, December 1, 2004. Construction spending during October 2004 was estimated at a seasonally adjusted annual rate of $1.01 trillion, nearly the same (plus or minus 1.6 percent) as the revised September estimate, the U.S. Census Bureau announced today. more...
By Inman News, Wednesday, December 1, 2004. More than 12,960 families in California will be able to benefit from the increase in the Fannie Mae and Freddie Mac single-family mortgage loan limit in 2005, according to the California Association of Realtors. The secondary mortgage companies' federal regulator increased the loan limit from $333,700 to $359,650 beginning next year. But the California Realtors say the increase still falls short of what California home buyers need. more...
By Inman News, Wednesday, December 1, 2004. Overall mortgage applications fell 5.8 percent last week on a seasonally adjusted basis, according to the Mortgage Bankers Association's weekly survey. The MBA seasonally adjusted purchase index decreased by 0.6 percent to 460.3 from 463.3 the previous week. The seasonally adjusted refinance index decreased by 12.3 percent to 1,912.3 from 2,179.3 one week earlier. more...
By Inman News, Wednesday, December 1, 2004. Long-term mortgage interest rates were higher Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.35 percent. The 30-year fixed-rate average gained to 5.39 percent, and the 15-year fixed-rate increased to 4.83 percent. The 1-year adjustable was up at 3.43 percent. The 30-year Treasury bond yield climbed to 5.01 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. more...
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