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LendingTree revenue flat

By Glenn Roberts Jr., Tuesday, August 3, 2004.

Barry Diller's multimedia juggernaut InterActiveCorp reported a surge in the volume of loan and real estate transactions closed, from $6.7 billion in the first quarter of the year to $8.5 billion in the second quarter.  more...

Forensic audit of MLSNI lands in shareholder hands

By Inman News, Tuesday, August 3, 2004.

At a shareholder meeting of the Multiple Listing Service of Northern Illinois, accounting firm PriceWaterHouseCoopers presented the results from a controversial forensic audit to a gaggle of association members, executives and their lawyers. The group officially received the report and agreed to act on findings at a meeting next Monday.

Prior to the meeting getting underway, MLSNI CEO Jay Huffman and his general counsel were asked to leave the meeting.  more...

Homestore profits not on the horizon

By Jessica Swesey, Tuesday, August 3, 2004.

Homestore likely will not achieve profitability this year, as some observers previously anticipated. The company narrowed its second-quarter loss to $4.3 million, or 3 cents a share, from $91.7 million, or 78 cents a share a year ago.

The second-quarter loss compares with a loss of $5.1 million, or 4 cents a share in the first quarter this year.  more...

Florida apartments sold to developer

By Inman News, Tuesday, August 3, 2004.

Roberts Realty Investors sold its 200-unit St. Andrews at the Polo Club apartment community located in Wellington, Fla.

The value of the transaction was $36 million.

Wellington Development L.C. purchased the property.

The company acquired the St. Andrews community in November 2001 as part of a Section 1031 tax-deferred exchange from the sale of the company's Crestmark apartment community located in Douglasville, Ga.

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REIT lands $100 million office building

By Inman News, Tuesday, August 3, 2004.

American Financial Realty Trust acquired 101 Independence Center, a 526,000-square-foot, class A office building in Charlotte, N.C.

Cousins Properties Inc. sold the property for an aggregate purchase price of $100 million, including the assumption of $43.3 million of outstanding indebtedness.  more...

LandAmerica grows real estate inspection service

By Inman News, Tuesday, August 3, 2004.

LandAmerica Financial Group, through its subsidiary Inspectech, purchased Inspection Pros Inc., of San Ramon, Calif., and Becker Engineering of Cincinnati, Ohio. Both companies provide commercial and residential property inspections and will further expand Inspectech's presence in key metropolitan markets.  more...

Republican Realtors Premium Content

By Inman News, Tuesday, August 3, 2004.

Editor's note: With 1 million Realtors in the U.S. backed by a trade association with one of the largest Political Action Committees, there's no doubt that real estate has a powerful political voice in this country. In this three-part series, we caught up with a variety of these voices to find out what issues they care about and why.  more...

Computers + education = more real estate profits

By Inman News, Tuesday, August 3, 2004.

A famous quote in the real estate industry states, "Technology will not replace real estate agents, but real estate agents with technology will." And new research conducted by the Federal Reserve Bank of San Francisco suggests that those agents with technology and education will likely earn greater profits than the ones who don't incorporate the Web and technology into their business plans.  more...

Web site consolidates real estate listings

By Inman News, Tuesday, August 3, 2004.

A new real estate marketing platform is consolidating listings of homes for sale by owners, agents, builders and bank foreclosure. AmericasHomeShowcase.com has been tested in Dayton and Cincinnati, Ohio, and in Phoenix, Ariz.  more...

Fewer borrowers cash out real estate equity

By Inman News, Tuesday, August 3, 2004.

About 39 percent of Freddie Mac-owned loans that were refinanced in the second quarter of 2004 resulted in new mortgages at least 5 percent higher than their original mortgages, according to a Freddie Mac's quarterly refinance review. That's a drop from the 42 percent of refinanced loans in the first quarter that resulted in cash-outs.

During the second quarter, the 30-year fixed-rate mortgage hovered at about 6 percent, bringing about a gradual slowing of refinance activity.  more...

Real estate construction permits rise in California

By Inman News, Tuesday, August 3, 2004.

June was another strong month for new-home production across California, with the number of housing permits issued for single-family and multifamily homes growing substantially over June of 2003, the California Building Industry Association announced Monday.  more...

Sell your home for $12.95

By Inman News, Tuesday, August 3, 2004.

Home improvement retail giant Home Depot has added for-sale-by-owner marketing kits for home sellers to its product offerings at stores throughout the East Coast. The company has partnered with Owners.com, a provider of online for-sale-by-owner real estate services.

The new FSBO product is a complete marketing kit that includes Internet advertising with photos and property information, an answering service and personalized yard-sign banners.  more...

Mortgage rates dip

By Inman News, Tuesday, August 3, 2004.

Long-term mortgage interest rates were lower Monday, and the benchmark 10-year Treasury bond yield sank to 4.45 percent.

The 30-year fixed-rate average dipped to 5.68 percent, and the 15-year fixed-rate fell to 5.1 percent. The 1-year adjustable was up at 3.35 percent.

The 30-year Treasury bond yield dipped to 5.19 percent.

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