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Advice for the Rookie Realtor

By Inman News, Thursday, June 17, 2004.

Re: 'Rookie Realtor bummed by 'buyers' remorse' (June 15)

Dear Rookie:

Why isn't the Rookie Realtor working with folks who know him and like (trust) him already? Cold calling isn't for the Rookie. Referrals–that's what the business is all about. If folks don't refer him there is a reason.

Usually, I think it is because of self-confidence. The Rookie isn't coming across with confidence. What can he do for the people?

Does he wear a sign on his forehead that says "Trust me"?  more...

Executive shuffle at Wells Fargo Home Mortgage

By Inman News, Thursday, June 17, 2004.

Pete Wissinger, head of Wells Fargo Home Mortgage, is moving to Wells Fargo's retail insurance businesses and create a company-wide strategy for all the company's insurance activities.

Cara Heiden, head of national consumer lending, and Mike Heid, mortgage CFO – both EVPs of Wells Fargo Bank and 25-year veterans of the financial services industry – will assume Wissinger's mortgage responsibilities.

"Our insurance activities are spread across a number of our business groups so we need to coordinate all these related businesses with a common vision and strategy to  more...

Voit brokers Orange County office deals

By Inman News, Thursday, June 17, 2004.

Voit Commercial Brokerage recently negotiated five office transactions in Orange County, Calif., totaling 118,753 square feet.

The total value of the transactions was $13.3 million.

Dolphin Partners, an Irvine, Calif.-based real estate investment company, acquired a 40,420-square-foot office building for $4.6 million. The office building is located at 30211 Avenida de Las Banderas in Rancho Santa Margarita.  more...

ProLogis signs leases with home appliance retailer

By Inman News, Thursday, June 17, 2004.

ProLogis signed two leases with H.H. Gregg Appliances Inc., one near Columbus, Ohio, for 166,790 square feet at Capital Park South, and the other near Cincinnati for 100,800 square feet at Sharonville Distribution Center.

The total value of the transactions was not disclosed.

H.H. Gregg is an Indianapolis-based retailer of home appliances and electronics with more than 50 retail stores throughout the Midwest.  more...

SoCal developer sells office buildings

By Inman News, Thursday, June 17, 2004.

Investment Development Services Inc. sold two office buildings totaling 198,000 square feet in Westlake Village, Calif.

The value of the transaction was not disclosed.

The 11-acre property, situated in the Westlake North Business Park, is located at 30699 and 30721 Russell Ranch Road.

TIAA-CREF, the retirement system for employees in higher education, was the buyer.

At the time of sale, the properties were more than 91 percent occupied.

Grubb & Ellis represented both TIAA-CREF and IDS in this transaction.  more...

Tim Johnson's a nail-biting dealmaker

By Inman News, Thursday, June 17, 2004.

The Big (real estate) Chill Premium Content

By Glenn Roberts Jr., Thursday, June 17, 2004.

The sky isn't falling, say Southern California real estate experts, but the housing market is definitely coming back down to earth.  more...

Yahoo! and Prudential ink deal

By Inman News, Thursday, June 17, 2004.

Prudential Real Estate Affiliates has teamed up with Yahoo! to provide visitors to Yahoo!'s real estate page access to comprehensive and detailed real estate listing information from a Prudential broker in their selected market area.  more...

Brokerages combine while market explodes Premium Content

By Marcie Geffner, Thursday, June 17, 2004.

Editor's note: The fragmented real estate industry seems to be consolidating. But is it really? And is it good for the consumer?  more...

Californians lose real estate buying power

By Inman News, Thursday, June 17, 2004.

The percentage of households in California able to afford a median-priced home sank to 20 percent in April, a 7 percentage-point decrease compared to the same period a year ago, according to a report released today by the California Association of Realtors.

The April Housing Affordability Index declined one point compared to March, when it stood at 21 points.  more...

Second homes gain in popularity

By Inman News, Thursday, June 17, 2004.

An independent study released today by Centex Destination Properties conservatively estimates that 25 percent of affluent households expressed interest in second-home ownership over the next two to three years.

Second-home attributes most sought by respondents are low upkeep/maintenance, proximity to shops and restaurants, walking paths, and outdoor activities such as hiking and bicycling.  more...

Rising mortgage rates slow lending activity

By Inman News, Thursday, June 17, 2004.

Long-term mortgage rates inched higher this week, easing the pace of real estate purchases, according to the latest survey from mortgage buyer Freddie Mac.

In Freddie Mac's weekly survey, the 30-year fixed-rate mortgage averaged 6.32 percent for the week ended today, up slightly from last week when it averaged 6.3 percent.

The average for the 15-year fixed-rate mortgage this week is 5.7 percent, up a little from last week when it averaged 5.67 percent.  more...

Real estate appraisal licensing faulty

By Inman News, Thursday, June 17, 2004.

The three largest professional appraisal organizations in the United States gathered this week in Washington, D.C., to deliver a cautionary message on the deficiencies in the current real estate appraiser licensing system.  more...

Real estate tips for people on the move

By Inman News, Thursday, June 17, 2004.

Iowa woman jailed for real estate scam

By Inman News, Thursday, June 17, 2004.

An Iowa woman who perpetrated a complex real estate scam and stole more than $1 million from investors has been sentenced to more than six years in prison, a local news source reported today.

Susan Hill of New Liberty, Iowa, in January pleaded guilty to 23 counts of wire fraud, 14 counts of money laundering and five counts of mail fraud, according to a Billings Gazette report. A judge ordered Hill pay restitution in an amount to be later determined.  more...

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