New Yorkers arrested in alleged real estate fraud

Two New Yorkers were arrested on Dec.  more...

CityCribs debuts real estate mapping tool

CityCribs.com, a housing marketplace for New York City apartment and home rentals and sales, has launched CribsMap, a property-mapping tool that is based on the popular Google Maps platform, and also announced national expansion plans.

With the new viewing interface, CityCribs users can search for New York City apartments and homes on a map and then click to receive details on property listings.

"We're excited to introduce CribsMap because it brings a new interactive experience to people looking for New York homes," said G  more...

Realtors upset about banks' real estate development plans

Watchful of efforts to expand banks' presence into real estate brokerage services, the National Association of Realtors today announced that it is questioning bank-related real estate development projects approved in December by the U.S.  more...

ZipRealty names Orlando as next U.S. market

ZipRealty today announced it plans to begin opening transactions with home buyers and sellers in Orlando, Fla., beginning in the second quarter of 2006.

The third-most populated metropolitan area in the Sunshine State and one of the fastest-growing regions in the Southeast, Orlando is the third market for ZipRealty in the state of Florida and will be the 17th market for the company nationally. ZipRealty's Miami market opened in December 2005 and the Tampa market is scheduled to open during the first quarter in 2006.  more...

Nashville real estate sales smash records

Home sales for the Greater Nashville area reached an all-time high in 2005 and for the month of December, the Greater Nashville Association of Realtors reported Monday.

According to figures provided by the Greater Nashville Association of Realtors, 38,874 homes were closed in 2005, representing a 6.5 percent increase from the 36,469 closings reported for 2004, previously a record year for area home sales.

There were 3,362 closings during the month of December, which is a 16.5 percent increase from the 2,885 closings reported for the same period last year, and the first time h  more...

2006 will bring cooling sales in real estate

In its forecast for 2006, the National Association of Realtors trade group states that the "key word for the housing market...is balance, with a return to a more normal rate of price growth."

David Lereah, NAR's chief economist, said in a statement that "cooling sales are necessary for the long-term health of this vital sector," and a "modest slowdown in home sales, coupled with improvements in housing inventory, means the market is in the pr  more...

CondoBuzz launches local ad delivery service for brokers

CondoBuzz.com, a network of real estate Web sites focused on condominiums, on Monday launched a local ad delivery service for real estate brokers.

"Our network of more than 3,000 real estate Web sites and domains enables us to develop and distribute our own local advertising program that benefits real estate brokers, agents, developers, vendors, buyers and sellers," said Randy Kempenich, president of Kemteck, which owns CondoBuzz.com.

The company's president said the timing is right for local ad-supported Web sites, with l  more...

HUD awards $33 million to public housing agencies

The U.S. Department of Housing and Urban Development awarded $32.9 million in grants to public housing agencies to help public housing residents get jobs and buy homes, the department said Monday.

The funding comes from is provided through HUD's Resident Opportunities and Self Sufficiency, or ROSS, Program.  more...

Overnight real estate rates fall

Long-term mortgage interest rates were down Monday, and the benchmark 10-year Treasury bond yield remained at 4.37 percent.

The 30-year fixed-rate average dropped to 5.64 percent, and the 15-year fixed-rate slipped to 5.21 percent. The 1-year adjustable rose to 4.5 percent.

The 30-year Treasury bond yield decreased to 4.55 percent.

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

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

From parole officer to real estate queen

It may be a "man's world" in some people's view, but some women know how to turn that notion to their advantage.

Michael Saunders, the savvy businesswoman behind the successful independent real estate brokerage Michael Saunders & Co., admits her unusual first name helped along the way.

"My name definitely helped," Saunders said. "People thought I was a man and it let me get my foot in the door and I never removed it."

Like many real estate titans, Saunders' first career was in a different field.  more...