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AMLI dumps Texas apartments

By Inman News, Wednesday, May 19, 2004.

AMLI Residential Properties Trust sold AMLI at Verandah in Arlington, Texas.

The value of the transaction was not disclosed.

AMLI at Verandah contains 538 apartment homes and was built in two phases in 1986 and 1991.

AMLI initially acquired a 35 percent interest in the community with a joint venture partner in 1997, and later purchased its partner's 65 percent ownership interest in early 2003.

The identity of the buyer was not disclosed.  more...

Fewer apartment vacancies fuel builder confidence

By Inman News, Wednesday, May 19, 2004.

Strong condo demand and signs that the rental apartment market finally is emerging from its slump fueled the confidence of multifamily builders in the first quarter of this year, according to the latest Multifamily Market Index (MMI), released Wednesday by the National Association of Home Builders.  more...

Grosvenor expands in northern Virginia

By Inman News, Wednesday, May 19, 2004.

Grosvenor has entered the northern Virginia office market by acquiring Carlyle Gateway I and II, adjacent class A office buildings totaling 250,088 square feet in Alexandria.

The total value of the transactions was not disclosed.

The six-story class A buildings, located at 1900 Duke St. and 333 John Carlyle St., were developed in 1999-2000 and were more than 95 percent leased at the time of sale.

Grosvenor purchased the property from its developer, Cousins Properties Inc.

Grosvenor is a privately owned property development and investment group.  more...

Unzipping ZipRealty's IPO Premium Content

By Marcie Geffner, Wednesday, May 19, 2004.

ZipRealty has posted only two profitable quarters in its short history, but the company's bottom line was near break-even in the first quarter of this year and its growth since its inception in 1999 has been impressive.  more...

Zip's IPO boon for online real estate

By Jessica Swesey, Wednesday, May 19, 2004.

Payam Zamani, CEO of Reply!  more...

ZipRealty bucks real estate tradition

By Glenn Roberts Jr., Wednesday, May 19, 2004.

While some traditional real estate brokers today said they know zip about ZipRealty, the fledgling brokerage with an unconventional business model, others are watching with interest as the company plans its initial public stock offering.

Larry Knapp, president of Saratoga-Calif.-based Alain Pinel Realtors, said he wishes the company well.

"I think it's great. They have a little different model. Just like every other business model in the world, things progress," Knapp said. "I hope they're successful in going public and achieving their goals.  more...

Economy perks up slowly

By Inman News, Wednesday, May 19, 2004.

The Conference Board today announced that the U.S. leading index increased 0.1 percent in April from the previous month.

The leading index now stands at 115.9 (1996=100). Based on revised data, this index increased 0.8 percent in March and remained unchanged in February. During the six-month span through April, the leading index increased 1.8 percent, with nine out of 10 components advancing (diffusion index, six-month span equals 90 percent).

The leading index increased only slightly in April, but it is still rising at an average annual rate of 3.5 to 4 percent.  more...

Coach to speak at Real Estate Connect Premium Content

By Inman News, Wednesday, May 19, 2004.

Bernice Ross will speak at Real Estate Connect in San Francisco, July 28-30.

Bernice Ross might admit to "mindlessly eating crunchy snacks out of the bag" on the rare days when she feels stressed, but most of the time she's a serene, worry-free spirit who's on top of her game as a respected and sought-after real estate trainer, writer, speaker and coach.

Ross combines her expertise as a professor of psychology and Master Certified Coach with more than 25 years' experience in real estate sales.  more...

Zip not a joke anymore

By Inman News, Wednesday, May 19, 2004.

At the Inman News Real Estate Connect conference four years ago, ZipRealty co-founder Juan Mini sat on a panel of online real estate companies. He was a young, fresh MBA graduate from U.C. Berkeley who promised to change the industry. When pinned down about how many transactions Zip had closed, he proudly admitted to four. The real estate broker veterans in the crowd giggled at the pint-size accomplishments of this California start-up.

Today, brokers are probably not giggling.  more...

Julie from Hollywood

By Julie Brosterman, Wednesday, May 19, 2004.

Okay, so the real estate addict in me has struck again. Can't stay away. Third time's a charm, right?

I completed an escrow in late March for a house I thought was a bit underpriced in a highly inflated market with a great loan. All was well in real estate land.

While we were waiting for the sellers to get out from a very favorable leaseback situation, we received a call from my sellers (now tenants).  more...

Global jitters push mortgage rates lower

By Inman News, Wednesday, May 19, 2004.

Real estate ad sales rise for newspapers

By Inman News, Wednesday, May 19, 2004.

The Newspaper Association of America reported a 3.5 percent gain in advertising sales in the first quarter of 2004 compared to the same quarter last year, with real estate classified ad spending up 6.2 percent to $833 million.

The association is a nonprofit organization that represents more than 2,000 newspapers in the U.S. and Canada. Most members are daily newspapers, accounting for 87 percent of the U.S. daily circulation.  more...

Interest rates to cut into real estate refis

By Inman News, Wednesday, May 19, 2004.

The Mortgage Bankers Association is predicting $2.4 trillion in mortgage originations in 2004, according to its monthly update of the Mortgage Finance Forecast.

Last month, MBA had estimated $2.6 trillion in originations, but now predicts a rising interest rate environment will cut into refinancings this year. Home purchases will remain strong, however.

"Because of strong employment growth in March and April, rising inflation pressures and solid production growth, the Federal Reserve is likely to begin raising rates in June," said MBA chief economist Doug Duncan.  more...

More home sale data lands online

By Inman News, Wednesday, May 19, 2004.

OnBoard LLC announced it has launched a new product that gives prospective home buyers and sellers customized analysis of recent home sales on the Weichert Realtors Web site.

HomeSalesDigest gathers information from more than 11 million transactions in more than 750 counties nationwide. The product is the latest in a series of ASP products that enable brokers and their agents to provide real-time real estate data to consumers online or offline.  more...

First American to buy Pennsylvania title cos.

By Inman News, Wednesday, May 19, 2004.

The First American Corp. today announced that it has signed a formal agreement to acquire Media, Pa.-based T.A. Holdings Inc. and its subsidiary companies, including Title Alliance Ltd., T.A. Title Insurance Co., Title Abstract Co. of Pennsylvania, TA Financial Services, and 1031 Corp. The transaction, which is subject to normal regulatory approval by the Pennsylvania Department of Insurance, is expected to close early in the third quarter of 2004.  more...

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