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Advice for the Rookie Realtor

By Inman News, Wednesday, June 9, 2004.

Re: 'Rookie Realtor's first deal collapses' (June 8)

Dear Rookie:

As a loan officer for 12 years, I have recently seen this behavior in two deals for one borrower. In this case, it was the seller that simply didn't want to sell after we had loan docs at escrow. The second of the two failed sales is quite possibly going to end up in a lawsuit against the seller.  more...

Joint venture buys 1,000-unit apartment portfolio

By Inman News, Wednesday, June 9, 2004.

SCI Real Estate Investments, in a joint venture with Naples Realty of Florida, purchased a three-building apartment portfolio of 1,000 units located in Ft. Myers, Fla.

The total value of the portfolio was $75.2 million.

Two of the properties, Beach Club and Viridian, are contiguous. They are B+ in quality, garden-style, and were completed in 1991. The third property, Park Crest at the Lakes, is an A-quality property, finished in 2000.  more...

Berwind lands class A office complex

By Inman News, Wednesday, June 9, 2004.

Berwind Property Group acquired WestChase Two and Three, two class A, five-story office buildings located in Raleigh, N.C.

The value of the transaction was not disclosed.

WestChase Two and Three are part of a three-building office park complex located at the intersection of Wade Avenue and Blue Ridge Road. WestChase Two (110,769 square feet) was built in 1989 and WestChase Three (100,878 square feet) was built in 1990.  more...

Kushner expands industrial, retail holdings

By Inman News, Wednesday, June 9, 2004.

Kushner Cos. has continued to expand its commercial portfolio with the acquisition of six northern New Jersey industrial buildings and one retail center totaling 220,000 square feet.

The company purchased the properties in Whippany, Fairfield and East Hanover from Bert Kaplan for approximately $22 million.

The Kaplan portfolio includes four industrial buildings in Whippany, at 125, 145 and 156 Algonquin Parkway, and 30-40 Leslie Court; and two properties in Fairfield at 341 and 344 Kaplan Drive.  more...

Subprime lending explodes Premium Content

By Samantha Peterson, Wednesday, June 9, 2004.

SALT LAKE CITY—Wayne Thompson has been considering tapping into the subprime lending market for about two years. The idea is in his business plan for Lexington, Ky.-based Residential Mortgage Services, but other changes have taken priority.

Still, it made sense that Thompson attended a session at the 2004 National Association of Mortgage Brokers convention here on subprime lending. He didn't learn a lot of about the nuts and bolts of setting up that type of business, but he came away with a newfound appreciation for the increase in subprime lending over the last few years.  more...

Real estate gets metaphysical fix

By Carol Lloyd, Wednesday, June 9, 2004.

"Your house has an energy drain."

Janis McNair sits on my couch, swinging a silver chain weighed by an amber glass. She's checking to see how the yin and yang in the room are balancing.

"Ideally," she says, glancing up from her pendulum, "a home should have balance of about 60 percent yang – active energy – and 40 percent yin – passive energy – but yours is 84 percent yin and only about 15 percent yang."

Wow.  more...

The dark side of the Web Premium Content

By Jessica Swesey, Wednesday, June 9, 2004.

If you've ever received an unsolicited e-mail that appeared to be from Citibank or PayPal and that asked you to update or verify an account, you've been targeted by the growing wave of "phishing" scams that transform spam from a minor annoyance into outright fraud.

Phishing occurs when fraudsters try to trick people into giving them personal financial data, such as credit card numbers, bank account information, passwords or Social Security numbers.  more...

Realtors have money, masses Premium Content

By Glenn Roberts Jr., Wednesday, June 9, 2004.

Editor's note: Since the Homestead Act more than 150 years ago, politics, policy and real estate have gone hand in hand. Today, politics and policy are even more central to a vibrant and functioning real estate market. In this special four-part series of stories during an election year, Inman News looks at the relationship between politics and real estate.  more...

'Lil Gun' Davison makes name in real estate consulting

By Inman News, Wednesday, June 9, 2004.

Marc Davison, Vice President of Real Estate, VREO Software, will speak at Real Estate Connect July 28-30 in San Francisco.

1. What are your current or childhood nicknames?

Gunner D. and or Lil Gun. Still called that by my old neighborhood chums. Regards the speed to which I could once throw a Spalding in the game of stickball.

2.  more...

Mortgage lender sets stock price

By Inman News, Wednesday, June 9, 2004.

IndyMac Bancorp, the holding company for IndyMac Bank, announced Tuesday that it has priced an offering of 3.2 million shares of its common stock at a price of $31.75 per share. The total gross proceeds from the offering are $101.6 million.  more...

Rising rates may bust real estate boom

By Inman News, Wednesday, June 9, 2004.

The rise of interest rates is the single factor most likely to end the current housing boom, according to an informal Inman News survey.  more...

Home ownership improves your health

By Inman News, Wednesday, June 9, 2004.

Home ownership builds wealth and that creates health was one conclusion reached in a new study in the Housing Policy Debate, an esoteric research publication produced by secondary mortgage market giant Fannie Mae's Foundation.

The research article, "Does Housing Mobility Policy Improve Health," examined a litany of studies that attempted to show that better housing conditions improve public health. Home ownership is at the apex of the housing ladder and seems to result in the healthiest people. The research showed:  more...

Online real estate leaders get set to Connect

By Inman News, Wednesday, June 9, 2004.

Despite losses, scandals, investigations and faulty business models in recent years, online real estate is re-emerging with a fresh outlook that is quickly positioning it as the next major Internet growth category. This rebound closely follows the explosion of paid search marketing companies, largely responsible for driving consumer interest in online real estate. With more than 70 percent of home buyers now shopping online before inking a deal–almost double what it was during 2001–the category is expected to generate as much as $500 million in revenue during 2004.  more...

Stewart expands into mortgage default services

By Inman News, Wednesday, June 9, 2004.

Stewart Mortgage Information will offer default management and technology services supporting the mortgage and consumer services industry through a newly formed subsidiary, Stewart Default Solutions.

C. Alan Paylor, who recently joined Stewart Mortgage Information, will serve as executive vice president and chief operating officer of the new company.

The company's initial focus will be on changing the workflow process in the company's existing default management and services, Paylor said.  more...

Prudential buys Washington real estate brokerage

By Inman News, Wednesday, June 9, 2004.

Prudential Real Estate Affiliates announced Tuesday that Prudential Northwest Realty Associates has acquired Coldwell Banker All-American Associates.

The acquisition adds two offices and 150 sales professionals to Prudential Northwest Realty, bringing the company to a total of nine offices and 550 sales professionals.

Prudential Northwest Realty serves the areas of Seattle, West Seattle, Kent, Shoreline, Renton, Federal Way and Sea-Tac.  more...

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