Barry Diller to keynote Real Estate Connect

Online business innovator and IAC/InterActiveCorp Chairman and CEO Barry Diller, whose high-profile entry into the online real estate category and 2003 purchase of LendingTree captured the attention of the entire real estate industry, will deliver the keynote address at the Real Estate Connect 2004 Conference, set for July 28-30 at San Francisco's Palace Hotel.

"Barry Diller is without peer when it comes to successfully leveraging the power of the Internet to transform the way businesses and consumers interact," sa  more...

'Tag, you're it' devices could change real estate

Imagine home buyers driving through their favorite neighborhood, checking out for-sale signs. As they approach one sign with curiosity, they use a device with an RFID chip that beams a bar code-like ID on the for-sale sign. Instantly, the buyers can see a full display of the listing on a PDA along with other important neighborhood information such as schools and recent home sales.  more...

Real estate loan victims get $65 million

Nearly 20,000 borrowers will receive a second compensation check this week from a fund that resulted from the FTC's settlement with home mortgage lender First Alliance Mortgage Co. and its CEO. Borrowers who obtained home mortgage loans through First Alliance previously received compensation for the loan origination fees the company charged them in a round of checks mailed in December 2002. The additional money comes as the parties continue to implement a settlement agreement.  more...

Housing more affordable in fourth quarter

A seasonal decline in home prices and rising family income led to improved housing affordability in the fourth quarter of 2003, according to the National Association of Realtors.

NAR's composite housing affordability index was 139.2 during the quarter, up 2.6 percentage points from 136.6 reported in the third quarter. The index was 1.1 points below the same period a year earlier when it stood at 140.3.  more...

Real estate construction spending increases

Construction spending on housing put in place during December was estimated at a seasonally adjusted annual rate of $933 billion, approximately 0.4 percent above the revised November estimate of $930 billion, according to the U.S. Commerce Department's Census Bureau.

The December figure is approximately 7 percent above the December 2002 estimate of $872 billion.

The value of construction spending in 2003 was $898 billion, approximately 4.3 percent above the $861 billion spent in 2002.  more...

Help-Wanted advertising slips

The Conference Board's Help-Wanted Advertising Index – a key barometer of America's job market – dipped 1 point in December to 38, down from 39 the previous month. The index was 39 one year ago.

In the last three months, help-wanted advertising increased in seven of the nine U.S. regions. The largest increases occurred in the New England (13.8 percent), East North Central (9.6 percent), and West North Central (6.8 percent) regions.  more...

Housing agency to get $31 billion

President Bush's proposed 2005 budget includes $31 billion for a U.S. Department of Housing and Urban Development spending plan that emphasizes affordable housing, community revitalization and home ownership, the agency said in a statement today.

Alphonso Jackson, HUD acting secretary, said the budget blueprint will provide "historically high levels" of funding for thousands of local housing programs.  more...

Bush sends HUD nomination to Senate

The Bush Administration this weekend submitted its nomination of Alphonso Jackson as secretary of the U.S. Housing Department to the Senate Banking Committee. The nomination was made official on Saturday and was forwarded to the Senate committee yesterday, according to the committee's Web site.

The federal housing agency has a proposed fiscal year 2005 budget of $31 billion.

The committee will schedule a hearing on the nomination after additional paperwork is received.  more...

Larson leaves REBIG

Attorney Brian Larson has resigned his position with a real estate data licensing venture to resume his private law practice.

Larson is a noted national expert, speaker and strategic advisor on MLS issues, including the contentious virtual office Web site (VOW) rules and policies.  more...

Architectural stereotypes run big in Hollywood

For Sale: Live-work lofts perfect for hobbit sex parties

Hollywood gets into a rut when it comes to architecture.

For example, moviemakers tend to love traditional architecture and deplore modernism.

The Lord of the Rings movie series is the most blatant example of what type of architecture Hollywood believes symbolizes good, morality and courage and that which typifies evil, bad and the dark side of nature.

Communities where the elves, the dwarves and the hobbits live are soft and colorful with traditional designs.  more...

Overnight interest rates dip

Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield sank to 4.13 percent.

The 30-year fixed-rate average fell to 5.4 percent, and the 15-year fixed-rate slipped to 4.7 percent. The 1-year adjustable was unchanged at 3.3 percent.

The 30-year Treasury bond yield decreased to 4.96 percent.

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