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Chinese bedding co. buys U.S. headquarters

By Inman News, Friday, March 12, 2004.

Sun-Yin U.S.A., an importer and distributor of bedding products, purchased a 180,540-square-foot industrial facility in City of Industry, Calif.

The value of the transaction was more than $11 million.

Sun-Yin U.S.A. schedules a March occupancy of its new headquarters, located on 7.98 acres at 280 Machlin Court within "The Plantation" business park. Approximately 30 people will be employed at the site, which replaces its former headquarters in nearby Pomona.  more...

Wireless products provider relocates in Massachusetts

By Inman News, Friday, March 12, 2004.

Diversified Project Management negotiated Sonus Networks' relocation to a new 144,000-square-foot corporate headquarters in Chelmsford, Mass. 

The value of the transaction was not disclosed.

The Sonus project included the relocation of its office space, R&D and customer support facilities from 3 and 5 Carlisle Road in Westford, where Sonus had been headquartered since its founding in 1997. Sonus, a provider of packet voice infrastructure for wireline and wireless service providers, relocated to 250 Apollo Drive.  more...

Binswanger arranges Arkansas deal

By Inman News, Friday, March 12, 2004.

Binswanger/CBB negotiated the sale of a 231,570-square-foot building in Jonesboro, Ark.

The value of the transaction was $4.2 million.

The 34-acre property is located at 4929 Krueger Drive.

Toledo, Ohio-based Dana Corp., a design, engineering and manufacturing company of automotive products, sold the property to an undisclosed buyer.

Philadelphia, Pa.-based Binswanger/CBB is an international, full-service real estate organization.

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Realtor.com now live on MSN

By Marcie Geffner, Friday, March 12, 2004.

An online search function that enables MSN users to search the Realtor.com listings database is now up and running.

The search function is part of a co-branded Web site and revenue-sharing agreement between Microsoft Corp. and Homestore, which operates Realtor.com for the National Association of Realtors.  more...

Government keeps real estate rules secret

By Marcie Geffner, Friday, March 12, 2004.

We here highly resolve that...government of the people, by the people, for the people shall not perish from the Earth. –Abraham Lincoln

It's unoriginal, but nonetheless true and worth saying that government agencies shouldn't act in secret. Whether it's the vice president of the United States, the Department of Homeland Security, the Justice Department or even the Department of Housing and Urban Development, the public has a right and a responsibility to know and understand governmental decisions and actions.  more...

Congress wants sunshine in RESPA process

By Inman News, Friday, March 12, 2004.

A sizable chunk of the U.S. Congress wants the White House to rethink a proposal to reform the Real Estate Settlement Procedures Act.

Two hundred and twenty-six members of Congress last Friday sent a letter to the Office of Management and Budget urging the White House agency to reject the Department of Housing and Urban Development's RESPA proposal, which was submitted to OMB for its review in December 2003.  more...

Planned communities may lead fight against sprawl Premium Content

By Inman News, Friday, March 12, 2004.

Planned communities can play a key role in fostering more efficient growth in outlying areas through development that uses less land to accommodate population growth, according to a new policy paper from the Urban Land Institute.  more...

Immigration changing face of real estate

By Susan Ashworth, Friday, March 12, 2004.

An unparalleled wave of immigration over the last two decades has transformed towns and counties across the United States.

Understanding this shift in demographic patterns is key for real estate agents and brokers who want to understand where new immigrant gateways are being constructed, as minorities and immigrants represent the biggest source of new home buyers in the U.S. real estate market.  more...

Fannie, NAHB aim to expand 'workforce housing'

By Inman News, Friday, March 12, 2004.

Fannie Mae, the nation's largest source of financing for home mortgages, joined its partners including the National Association of Home Builders on Thursday to launch a major "workforce housing" initiative that aims to help revitalize 1,000 communities across America by expanding the stock of affordable housing for working families.  more...

Atlanta leads nation in single-family permits

By Inman News, Friday, March 12, 2004.

The greater Atlanta area, which recorded 53,750 single-family housing permits last year, led the nation in housing activity for the 13th consecutive year beginning in 1991, according to the Commerce Department.

Rounding out the top five housing markets for single-family permits were the metropolitan areas of Phoenix-Mesa with 46,590, Riverside-San Bernardino with 35,730, Houston with 33,970 and Washington, D.C., with 30,760. The total issuance of single-family permits across the country for 2003 was 1.444 million, according to the Commerce Department.  more...

Wireless listings take Canada by storm

By Inman News, Friday, March 12, 2004.

Executive Wireless announced Thursday it has been selected by the Toronto Real Estate Board to make its wireless multiple listing software service available to thousands of Canadian Realtors.

Under the agreement, Executive Wireless becomes an approved vendor and will offer its real estate-related wireless software, Wireless Realty, to TREB's nearly 20,000 real estate professionals. The software is compatible with a variety of devices, including Pocket PCs and Palm devices, as well as "smart" phones and laptops equipped with wireless network cards.  more...

Overnight mortgage rates continue slide

By Inman News, Friday, March 12, 2004.

Long-term mortgage interest rates were lower Thursday, and the benchmark 10-year Treasury bond yield slipped to 3.7 percent.

The 30-year fixed-rate average slipped to 5.07 percent, and the 15-year fixed-rate dropped to 4.37 percent. The 1-year adjustable rose to 3.04 percent.

The 30-year Treasury bond yield remained at 4.67 percent.

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