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Advice for the Rookie Realtor

By Inman News, Thursday, May 13, 2004.

Re: 'Rookie Realtor spouse speaks out' (May 10)

Dear Rookie:

I'm in the same boat as you are. I've been licensed for almost a year and half. Have not sold a house in that time.

At first I thought it might be my training, so I got my GRI. Still no homes sold or listed. Maybe more training was needed, so I got my broker's license. Still nothing. Maybe residential was not my cup of tea, so I am trying commercial real estate.  more...

For many Realtors, it's all about the Hill

By Inman News, Thursday, May 13, 2004.

WASHINGTON, D.C.–Sure, the nation's capital has a seemingly inexhaustible supply of museums and monuments. But it's the Hill that draws many attendees to the National Association of Realtors' midyear conference each year. That's Capitol Hill–a place where decisions are contemplated, made and sometimes changed.

With the weight of more than 1 million Realtors, the association has a loud voice on legislative matters. And when Realtors make their annual pilgrimages to lobby their legislators on the Hill each year, they are determined to be heard.  more...

Demand grows for commercial real estate

By Inman News, Thursday, May 13, 2004.

An increase in business confidence and sustained economic growth brighten the prospects for commercial real estate, according to a forecast presented at a commercial real estate forum at the National Association of Realtors Midyear Legislative Meetings & Trade Expo. Nearly 8,000 Realtors and guests are attending the May 10-15 meetings.  more...

New York Life executes long-term lease

By Inman News, Thursday, May 13, 2004.

Westwood Investors LLC, an affiliate of Berwind Property Group, announced the execution of a 10-year lease agreement with New York Life Insurance Co. for 81,939 square feet in Westwood, Mass.

The value of the transaction was not disclosed.  more...

Epson Madrona sells to REIT

By Inman News, Thursday, May 13, 2004.

Grubb & Ellis represented Santa Ana, Calif.-based Triple Net Properties in the purchase of Epson Madrona, a 211,388-square-foot office building in Torrance, Calif.

The transaction was valued at $46 million.

The three-story building, which is located at 20770 Madrona Ave., was 85 percent leased at the time of sale. The property is leased on a long-term basis to Honda, Kaiser Permanente and Navcom/John Deere.

The asset was sold by Southwest Value Partners of San Diego.  more...

Technology puts data in broker hands

By Jessica Swesey, Thursday, May 13, 2004.

After a decade in the real estate data and technology business, Steven Hightower and his team at Terradatum set out to build a piece of technology that would enable real estate brokers to utilize market and office data to make money.  more...

Real estate looms over Congress

By Glenn Roberts Jr., Thursday, May 13, 2004.

The National Association of Realtors will soon have a new place to call home.

Association staff concluded tours today of the new association building, which is in its final stages of construction and is expected to be occupied in September.

View slideshow of NAR's new Washington, D.C., headquarters.

The new building, a glassy, sleek and trim structure tha  more...

Honesty wins in real estate prospecting

By Inman News, Thursday, May 13, 2004.

Dear Real Estate Ethicist,

I run ads in the Sunday real estate section of the local newspaper. I am a mortgage broker and I run the advertisement in a directory of listings of interest rate quotes. Admittedly, I put rates in there that are a tad lower than we really charge. Everyone does it and the newspaper knows it, but does not care. The problem is the directory looks like it is real and I know borrowers think it is on the level, not an ad. But I get a ton of leads. Why does this bother me?  more...

Home builders battle construction lawsuits

By Inman News, Thursday, May 13, 2004.

California home builders have decided to take their fight against home buyer construction defect lawsuits onto the small screen in people's living rooms. A new television advertising campaign will spotlight the problems homeowners might face if they contact an attorney to resolve a construction dispute with a home builder.

The ads are intended to combat "concerted efforts by defect lawyers seeking to draw homeowners into ill-advised group lawsuits," according a statement from the Homebuilders Association of Northern California.  more...

Real estate brokerage closes $1 billion

By Inman News, Thursday, May 13, 2004.

Ohio-based Real Living, the fifth-largest residential real estate company in the United States, announced that it surpassed its first quarter sales from last year, closing more than $1 billion in sales during the first quarter of 2004.

Harley E.  more...

Credit card users get real estate perk

By Inman News, Thursday, May 13, 2004.

GMAC Mortgage Corp. announced this week that a credit card issued by MBNA America Bank will help cardholders pay down their mortgage balances with GMAC Mortgage.

Cardholders of the GMAC Mortgage Equity Rewards MasterCard will earn one point for every dollar in net retail purchases charged to the card.  more...

Real estate info. co. names new president

By Inman News, Thursday, May 13, 2004.

eNeighborhoods, a Boca Raton, Fla., company that compiles and sells home and neighborhood information products, today announced the appointment of David Meyer as company president.

Meyer, 34, is a co-founder of eNeighborhoods, who had been the company's chief technology officer and had developed its technology.

"Dave has helped eNeighborhoods succeed way beyond the expectations we had when we first developed the company," Stu Siegel, CEO and co-founder of eNeighborhoods, said in a statement.

Meyer was the "primary author and architect" of the eNeighborhoods software.  more...

Lawyer barred from debt collection business

By Inman News, Thursday, May 13, 2004.

The former general counsel of Capital City Mortgage Corp., a Washington, D.C.-area mortgage lender whose lending practices the Federal Trade Commission is challenging in federal court, has settled FTC charges that his actions violated federal law.

The consent decree against Eric J. Sanne permanently bars him from participating in any debt-collection business and orders him to pay $20,000. The consent decree and order is for settlement purposes only and does not constitute an admission by Sanne of a law violation.  more...

Real estate: The week ahead

By Inman News, Thursday, May 13, 2004.

Overnight interest rates inch higher

By Inman News, Thursday, May 13, 2004.

Long-term mortgage interest rates were up Thursday, and the benchmark 10-year Treasury bond yield increased to 4.85 percent.

The 30-year fixed-rate average rose to 6.08 percent, and the 15-year fixed-rate increased slightly to 5.44 percent. The 1-year adjustable was up slightly at 3.4 percent.

The 30-year Treasury bond yield increased to 5.56 percent.

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