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Mira Mesa apartments sell in San Diego

By Inman News, Thursday, May 20, 2004.

Colliers International brokered the sale of the 64-unit Camelot Mesa Townhome apartments in Mira Mesa, Calif.

The value of the transaction was $13.5 million.

The 53,288-square-foot property is situated on 2.2 acres located at 10208 Maya Linda Road.

DJF 2000 LLC purchased the property from Diamond I CA LLC. The buyer plans to convert the Mira Mesa apartment property to for-sale condominiums. Renovation is scheduled to commence summer of 2004.

Colliers International provides commercial real estate services worldwide.

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Tarragon lands multifamily complex

By Inman News, Thursday, May 20, 2004.

Tarragon Realty Investors purchased a 158-unit apartment community in New Haven, Conn.

The value of the transaction was not disclosed.

Tarragon has renamed the community, located on Fountain Street, to 200 Fountain Apartment Homes.

Formerly known as Cambridge Apartments, the community is situated in the Westville section of New Haven. In addition, the community boasts an 11,000-square-foot activity/fitness center, a gated entrance and covered parking.  more...

Kennedy Wilson unloads Orange County apartments

By Inman News, Thursday, May 20, 2004.

Hendricks & Partners negotiated the sale of Plaza Del Sol, a 196-unit apartment community with 13,000 square feet of retail space in Santa Ana, Calif.

The value of the transaction was $25.3 million.

Beverly Hills, Calif.-based Kennedy Wilson sold the property to Granite Investment Group of Irvine, Calif.

The transaction was negotiated by Melinda Russell and Robin Ossenbeck of the Los Angeles office of Hendricks & Partners.

Hendricks & Partners is a national advisory company focused exclusively on the sales of multifamily properties.  more...

HouseValues lands more funding on solid growth

By Jessica Swesey, Thursday, May 20, 2004.

One of the fastest-growing online real estate companies, HouseValues, is being rewarded for its success with a new dose of venture capital. The Bellevue, Wash.-based company this week raised $14.5 million in investment funding from William Blair Capital Partners.

HouseValues provides online marketing services to real estate agents and has been growing steadily since its inception five years ago.

The latest round of capital adds more evidence to HouseValues' success in the online real estate space.  more...

Credit Greenspan for real estate boom

By Inman News, Thursday, May 20, 2004.

Real estate adopts transaction technology

By Samantha Peterson, Thursday, May 20, 2004.

Adoption of real estate transaction management systems is picking up steam, with some vendors seeing a quadrupling of their business over the past year, according to top managers of six leading vendors who gave their perspectives Thursday during an Inman News audio conference.

The six companies–Guru Networks, Stewart Realty Solutions, First American Residential Group, Wintrans Solutions, SettlementRoom and Nations Holding Group–all offer online transaction management systems.  more...

Central Ohio real estate sales jump 15%

By Inman News, Thursday, May 20, 2004.

Real estate insurance bill passes

By Inman News, Thursday, May 20, 2004.

Both houses of California's legislature this week passed the Homeowners Bill of Rights (HOBOR), which aims to provide needed protections for homeowners in California.

The bill package by Insurance Commissioner John Garamendi includes four parts. Assembly Bill 2199 (Kehoe) passed from the floor of the Assembly unopposed Thursday afternoon. The other three HOBOR bills–AB 2962 (Pavley), SB 1474 (Escutia) and SB 1855 (Alpert)–were passed earlier this week.

"The insurance industry must fulfill its promises to its policyholders," said Garamendi.  more...

Real estate broker closes 32,000 transactions

By Inman News, Thursday, May 20, 2004.

Real estate: The week ahead

By Inman News, Thursday, May 20, 2004.

  • LSI and October Research will host the 2nd Annual Emerging Trends Summit, May 25-26 in Irving, Texas. Conference discussions and events will explore the future of mortgage innovation.  more...

Technology targets real estate fraud

By Inman News, Thursday, May 20, 2004.

Veros Software and First American Real Estate Solutions will co-host the fourth annual Predictive Methods Conference June 28–30, at the Four Seasons Hotel and Resort in Newport Beach, Calif.

Automated valuation models known as AVMs, fraud detection models and other automated analytical products have proliferated in the mortgage business in recent years and continue to be important tools for major and midsize mortgage corporations.  more...

Realtors to take mortgage class

By Inman News, Thursday, May 20, 2004.

Huntington Mortgage Group and Fannie Mae have partnered to educate Orlando-area Realtors on how to help buyers get the best mortgage financing they qualify for.

One of the initiative's main goals is to involve Realtors in the effort to end predatory lending. By educating Realtors, the two companies hope the partnership will promote consumer awareness about the benefits of seeking out responsible lenders and shopping for the best mortgage, debunk myths surrounding the home-buying process and ensure Realtors are aware of different mortgage loans.  more...

Real estate sales surge in San Francisco

By Inman News, Thursday, May 20, 2004.

San Francisco Bay Area home sales surged to near-record levels in April as buyers scrambled to lock in mortgage financing before interest rates soared any more, reported DataQuick Information Systems, a real estate information service.  more...

Overnight mortgage rates slip

By Inman News, Thursday, May 20, 2004.

Long-term mortgage interest rates were slightly lower Thursday, and the benchmark 10-year Treasury bond yield slid to 4.71 percent.

The 30-year fixed-rate average slipped to 6.01 percent, and the 15-year fixed-rate decreased to 5.37 percent. The 1-year adjustable was up at 3.49 percent.

The 30-year Treasury bond yield decreased to 5.43 percent.

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