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Home Shopping Network bags Tennessee digs

By Inman News, Friday, April 2, 2004.

Binswanger/CBB arranged the sale of a 978,000-square-foot building on 100 acres located in Piney Flats, Tenn.

The value of the transaction was not disclosed.

St. Petersburg, Fla.-based HSN, the self-proclaimed pioneer of electronic shopping, purchased the one-story property for use as a catalog distribution center. Founded in 1977, HSN allows customers to shop for an array of products, day or night, from the comfort of their own homes. HSN offers a selection from more than 22,000 products on its 24-hour-a-day televised broadcast and on HSN.com.  more...

Fife Business Park sold in Washington

By Inman News, Friday, April 2, 2004.

Harsch Investment Properties purchased the Fife Business Park, a 290,789-square-foot, multi-tenant industrial park in Washington State's Port of Tacoma area.

The value of the transaction was approximately $28.3 million.

Fife Business Park is located on Pacific Highway East (SR 99) and Willow Street approximately one mile from the port and with direct access onto Interstate 5.  more...

Marcus & Millichap arranges multifamily high-rise sale

By Inman News, Friday, April 2, 2004.

Marcus & Millichap negotiated the sale of the 18-story Bellevue Tower Apartments in Memphis, Tenn.

The value of the transaction was $2.9 million.  more...

Hot real estate Web sites land leads, close deals

By Jessica Swesey, Friday, April 2, 2004.

Real estate Web sites come in all shapes and sizes, but while some engage people's interest well enough to keep their attention for hours, others manage to log only 30-second visits. The Web sites home buyers and sellers find most valuable share such common characteristics as for-sale homes listings data, school reports and multiple-language capabilities, vendors say.  more...

Foreclosure real estate could be good find

By Inman News, Friday, April 2, 2004.

It's a market serious investors might just steer clear of altogether. After all, the concept of investing in a foreclosed property has all the markings of a good deal. But this risky market is also fraught with companies that promise, but don't always provide, reliable data or truly good deals.  more...

Web sites not exempt from fair housing

By Marcie Geffner, Friday, April 2, 2004.

Web site operators and online advertisers should be held no less accountable than their print-world counterparts for illegal discrimination in for-sale and for-rent housing advertisements. The Web may be a more open and innovative platform than print media ever has been, but openness, innovation and even relative novelty are no excuse for failure to comply with federal and state fair housing laws that protect home buyers and renters.  more...

Realtors' guide offers tips to avoid violent attacks

By Inman News, Friday, April 2, 2004.

Calling attention to the very real danger of violent attacks against real estate agents, the North Carolina Association of Realtors and the North Carolina Real Estate Commission have released a safety guide to help them stay out of harm's way.  more...

Real estate: The week ahead

By Inman News, Friday, April 2, 2004.

  • The National Association of Realtors will release its economic and housing outlook on Tuesday, April 6.

  • The Center for Economic and Policy Research will publish the winning essay from its contest, "Why is the run-up in housing prices not a bubble?" on www.cepr.net Tuesday, April 6. The Center will award $1,000 to the most convincing essay.  more...

Will telling truth cost me my first big sale?

By Inman News, Friday, April 2, 2004.

Dear Real Estate Ethicist,

I am a new real estate agent waiting for my first sale. Last weekend, I showed a house to a client who instantly fell in love with the house and is anxious to make an offer slightly above asking price. She was starry-eyed; I was stunned and quite frankly, I think she is overpaying for a fixer-upper on a weird lot that will cost a fortune to repair. I want this first sale so bad I could die, but I am worried about my client. –Worrywart

Dear Worrywart,  more...

HUD secretary takes office

By Inman News, Friday, April 2, 2004.

Alphonso Jackson was sworn in Thursday as the 13th Secretary of the Department of Housing and Urban Development.

Jackson, confirmed by the U.S. Senate Wednesday, was sworn in at a private HUD ceremony late Thursday afternoon. He promised to continue building on the nation's record home ownership rate, increasing access to affordable housing for low-income families and improving sound management practices within HUD.

Jackson had served as acting HUD secretary after Mel Martinez resigned in December 2003 to run for state senator in his home state of Florida.  more...

Overnight mortgage rates rise

By Inman News, Friday, April 2, 2004.

Long-term mortgage interest rates were higher Thursday, and the benchmark 10-year Treasury bond yield rose to 3.89 percent.

The 30-year fixed-rate average increased to 5.23 percent, and the 15-year fixed-rate climbed to 4.52 percent. The 1-year adjustable was unchanged at 2.97 percent.

The 30-year Treasury bond yield climbed to 4.81 percent.

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