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Jury verdict: LendingTree infringed on patent

By Glenn Roberts Jr., Tuesday, January 24, 2006.

A U.S. District Court jury has found that LendingTree should pay $5.8 million in damages for infringing on a patent held by IMX Inc., a mortgage technology company.

The Jan. 20 jury verdict followed a two-week trial.  more...

Binswanger negotiates Alabama industrial deal

By Inman News, Tuesday, January 24, 2006.

Binswanger arranged the recent sale of a 567,685-square-foot industrial building in Anniston, Ala.

The value of the transaction was $5.5 million.

The one-story building, situated on 44 acres at 100 National Drive in the Anniston Industrial Park, features ceiling heights from 21 feet to 24 feet and 9,578 square feet of fully air-conditioned office space.

The buyer, B.R. Williams Trucking, is a logistics company operating in the Southeast that provides same-day and next-day delivery, contract packaging, sorting and segregating, and inventory control.  more...

Office portfolio sells in Virginia

By Inman News, Tuesday, January 24, 2006.

Thalhimer/Cushman & Wakefield negotiated the sale of a 132,445-square-foot office portfolio in Newport News, Va.

The value of the transaction was approximately $15.2 million.

Oyster Point Operating Associates Ltd. Partnership purchased the four-building portfolio, situated on 15 acres, from Liberty Property Limited Partnership, as an investment.

The portfolio consists of: The Atrium at Oyster Point; Rock Landing II; Rock Landing IV; and Rock Landing V located in the 2.5 million-square-foot Oyster Point Office Park.  more...

Younan expands in northwest Chicago

By Inman News, Tuesday, January 24, 2006.

Woodland Hills, Calif.-based Younan Properties recently purchased One North Arlington, a 158,879-square-foot office building in Arlington Heights, Ill.

The value of the transaction was not disclosed.

Seattle-based Kennedy Associates sold One North Arlington, which is located at 1500 West Shure Drive. The property rises seven stories and was built in 1986.

At the time of sale, the property was 96 percent occupied by major tenants that include State Farm Automobile Insurance Co. and AMCOL International, both of which have leased space in the building since it was built.  more...

Floridians nabbed in alleged real estate foreclosure scams Premium Content

By Janis Mara, Tuesday, January 24, 2006.

Four Floridians were arrested in two separate but related alleged foreclosure scams that victimized more than 20 homeowners, state officials said today.

Terrence Rosenberg, Shannelle Brantley and Leighton Brown, all of Miami, were arrested for their roles in an alleged mortgage fraud and surplus foreclosure funds scam, and Manuel Rosado Jr.  more...

Colorado bill would regulate real estate partnerships

By Inman News, Tuesday, January 24, 2006.

A bill prohibiting real estate professionals from requiring the use of affiliated business arrangements as a condition of obtaining settlement services is under consideration by Colorado's legislature.

Colorado House Bill 1141, sponsored by Rep. Dale Hall and Sen.  more...

Million-dollar home sales top record in California Premium Content

By Inman News, Tuesday, January 24, 2006.

California million-dollar home sales in 2005 surged to a new peak for the fourth year in a row, as appreciation pushed a higher portion of overall sales into the seven-figure category, a real estate information service reported today.

A total of 48,666 Golden State homes sold for a million dollars or more last year, up 47 percent from 33,107 in 2004.  more...

Steve Ozonian to lead flat-fee real estate franchise

By Inman News, Tuesday, January 24, 2006.

Steve Ozonian, whose previous employers include such heavyweights as Bank of America, RE/MAX International, Prudential Real Estate, Coldwell Banker and Homestore Inc., is now taking the reigns at Help-U-Sell, a flat-fee real estate brokerage network.

On Tuesday, Ozonian was appointed CEO and chairman of the board for Realty Information Systems Inc., a company doing business as Help-U-Sell Real Estate.

He continues to serve as chairman of Global Mobility Solutions, a relocation firm that he joined in September as CEO and cha  more...

Sotheby's builds real estate presence in New York

By Inman News, Tuesday, January 24, 2006.

Sotheby's International Realty today announced it has acquired the assets of Julia B. Fee LLC based in Scarsdale, N.Y.

Julia B. Fee's eight offices throughout Westchester County will now operate as Sotheby's International Realty Inc., a subsidiary of NRT Inc.

Randall Katchis and George Stone, co-owners of Julia B. Fee, will each assume a role as senior vice presidents for Sotheby's International Realty, managing the company's Westchester operations.

Julia B.  more...

Overnight real estate rates up slightly

By Inman News, Tuesday, January 24, 2006.

Long-term mortgage interest rates edged up Monday, and the benchmark 10-year Treasury bond yield rose to 4.36 percent.

The 30-year fixed-rate average inched up to 5.64 percent, and the 15-year fixed-rate gained to 5.22 percent. The 1-year adjustable was unchanged at 4.52 percent.

The 30-year Treasury bond yield increased to 4.53 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...

Home is where the car is Premium Content

By Glenn Roberts Jr., Tuesday, January 24, 2006.

A concept car created by a design team at General Motors has a new spin on home ownership.

The GMC PAD, short for Portable Architectural Dwelling, is a high-tech drivable house that is at home on the road or in a parking lot.

And it's not the mobile home that your grandparents drive to Arizona each winter. Its designers envision a media-rich "urban loft with mobility," with wall-mounted television screens and wireless Internet capability.  more...

Luxury real estate hits new highs

By Inman News, Tuesday, January 24, 2006.

Donald Trump's $125 million Palm Beach, Fla., mansion is the most expensive U.S. home on the market, according to the second annual issue of Ultimate Homes Magazine.

Trump's mansion in Florida, which sits on six acres of land and features 15 bedrooms and 14 bathrooms, broke last year's record of $75 million. for the most expensive home on the annual list.  more...