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Advice for the Rookie Realtor

By Inman News, Monday, May 24, 2004.

Re: 'House horrifies Rookie Realtor' (May 24)

Dear Rookie:

You must really be a wimp! One of the problems California must have is too few guns in the home and too many wackos in San Francisco.

Bob Watson
The Vaya Con Dios Team
Texas

***

Got tips, ideas or advice for the Rookie Realtor? Send them to Rookie@inman.com.

Apartment complex sells in Carolinas

By Inman News, Monday, May 24, 2004.

Summit Properties sold an apartment community in Raleigh, N.C.

The value of the transaction was $22.5 million.

The community, built in 1990, was formerly known as Summit Square. The size of the property was not disclosed.

Summit Properties Inc. is a real estate investment trust that focuses on the operation, development, and acquisition of luxury apartment communities.

***

What's your opinion? Send your Letter to the Editor to newsroom@inman.com.

Weingarten bags El Camino Promenade

By Inman News, Monday, May 24, 2004.

Weingarten Realty Investors purchased El Camino Promenade shopping center in Encinitas, Calif.

The value of the transaction was not disclosed.

ACF El Camino 02 LLC, a California limited liability company, was the seller.

El Camino Promenade, located at the northwest corner of El Camino Real and Via Molena, is a 110,800-square-foot shopping center that was 100 percent leased at the time of sale. Anchors include TJ Maxx, AMC Theater and Beverages & More.

Weingarten Realty Investors is a Houston, Texas-based real estate investment trust.  more...

LaSalle unloads Mass. multifamily units

By Inman News, Monday, May 24, 2004.

CB Richard Ellis/Whittier Partners brokered the sale of CambridgeSide Apartments, a 104-unit class A apartment community located in Cambridge, Mass.

The property sold for $24,710,000.

CambridgeSide Apartments is a residential community that was converted to apartments in 1998. The property consists of one eight-story building, and contains a mix of studios and one-bedroom and two-bedroom units with an average unit size of 747 square feet.  more...

Brokers see signs of slowing real estate boom Premium Content

By Glenn Roberts Jr., Monday, May 24, 2004.

Some of Dee Dee Trosclair's clients are getting antsy these days and asking why their homes aren't selling like hotcakes. Home buyers, meanwhile, are getting more serious about making a move, said Trosclair, a Realtor for Keller Williams Realty in Dallas.

Subtle signs of a slow-down have surfaced in some housing markets across the country, as inventories of for-sale homes build up and some homes take longer to sell. The sale of high-end homes in particular has been stagnant in some markets.  more...

Internet fires up interest in real estate Premium Content

By Jessica Swesey, Monday, May 24, 2004.

Stroll around a few restaurants in Reno, Nev., and you'll likely hear chatter among friends about the sales prices of their neighbors' houses.  more...

Determined buyers keep mortgage brokers busy Premium Content

By Samantha Peterson, Monday, May 24, 2004.

Jon Riccardi frequently meets prospective home buyers who are in their mid-twenties and want to buy their first house. They have little to no savings for a down payment, already have credit card and student loan debt, and often are about to triple their housing costs by buying in the San Francisco Bay Area.

Riccardi, VP of MPR Financial in Berkeley, Calif., knows they'll qualify for a loan, but he doesn't understand how they can afford it. Yet they're determined to get into the housing market.

"It's aggressive," Riccardi said.  more...

California real estate prices shatter record

By Inman News, Monday, May 24, 2004.

The median price of an existing home in California in April increased 24.6 percent and sales increased 9.8 percent compared to the same period a year ago, the California Association of Realtors reported today.

The median price of an existing, single-family detached home in California during April was $453,590, a 24.6 percent increase over the revised $364,040 median for April 2003, C.A.R. reported. The April 2004 median price increased 5.8 percent compared to a revised $428,570 median price in March.  more...

Top producer masters real estate biz

By Inman News, Monday, May 24, 2004.

What's it like at the top of your game? It may sound easy, but to stay there requires great skills at managing both your business and your assets. Top-producing agent Paul Chiolo is a good example. His management approach reminds me of a wealthy old fellow who told his new stockbroker, "I don't need you to make me rich, young man; I need you to keep me that way." Even as Chiolo has diversified to keep all his money working for him, he has kept close watch on his core business, investing time and money into the real estate practice that made him successful in the first place.  more...

Buyer confidence now fuels real estate

By Marcie Geffner, Monday, May 24, 2004.

It was all about interest rates.  more...

Midwest real estate breaks sales records

By Inman News, Monday, May 24, 2004.

Real estate prices, sales rise in April

By Inman News, Monday, May 24, 2004.

Estate planning less certain than death

By Inman News, Monday, May 24, 2004.

Death and taxes may be life's only certainties, but fewer than one-half of adults in the United States are fully preparing for those eventualities.

Fifty-eight percent of adults don't have a basic will and 69 percent don't have a living will or medical directive, which explains an individual's wishes for receiving medical life support if he or she is terminally ill or permanently unconscious.  more...

Software lets lenders control real estate closing

By Inman News, Monday, May 24, 2004.

Entyre, a nationwide provider of mortgage closing products, has released version 2.0 of eMortgageX4. The latest version of the closing product includes enhancements such as the X4 e-Collaboration Engine, which gives lenders the ability to customize the communication process between all parties in the closing process.

"Our focus from the beginning was to use the benefits of the Web to give lenders more control of the closing process," Entyre CEO Dick Beedon said. "The results are dramatically fewer errors, lower closing and post closing costs and higher customer satisfaction."  more...

Merrill Lynch offers new mortgage product

By Inman News, Monday, May 24, 2004.

Merrill Lynch is now offering its blended-rate mortgage, which combines the lower rates of an adjustable-rate mortgage with the lower risk of fixed-rate home financing.

The blended-rate mortgage combines a fixed rate and an adjustable rate during an initial period of 3, 5 or 7 years. The blended rate increases or decreases half as much as a traditional ARM. The mortgage includes interest-only payments during the blended period and rates are adjusted semi-annually based on the 6-month London Interbank Offered Rate.  more...

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