Listings portal gets $5 million in funding

Edgeio, a service for online classified listings that launched this year, has raised $5 million in financing led by Intel Capital, the company announced last week.

Since launching in March 2006, edgeio says it has amassed more than 100 million listings from 14,000 cities across the globe.  more...

Canada's housing market braces for soft landing

Existing-home sales in Canada fell 6.7 percent below their year-ago level in September, as for-sale inventory rose to a new high, according to seasonally adjusted figures provided by the Canadian Real Estate Association.

According to the Multiple Listing Service, some 38,890 homes were sold on a seasonally adjusted basis last month, down from 41,699 sales in September 2005.  more...

Index ranks housing affordability in college towns

Many loyal alumni continue to support their college football teams long after graduation -- in some cases traveling long distances to attend big games -- and Coldwell Banker has released an index to show how much it costs to buy a home in those college towns.

The Coldwell Banker College Home Price Comparison Index, found that about one-third of the markets that are home to the 199 Division I-A schools feature 2,200-square-foot homes priced at or below the national median existing-home price of $225,0001.

The index fou  more...

Jobs, incomes take toll on consumer confidence

The Conference Board's Consumer Confidence Index edged down in October, falling from 105.9 to 105.4, as more Americans grew wary about jobs and incomes.

"October's dip in confidence was prompted by consumers' mixed assessment of present-day business conditions and a less favorable view of the job market," said Lynn Franco, director of The Conference Board Consumer Research Center. "Consumers' short-term expectations posted a slight improvement, but the outlook for the labor market remains mixed.  more...

No movement in overnight real estate rates

Long-term mortgage interest rates were unchanged Monday, and the benchmark 10-year Treasury bond yield held at 4.67 percent.

The 30-year fixed-rate average stayed at 5.86 percent, and the 15-year fixed rate remained at 5.57 percent. The 1-year adjustable was unchanged at 5.35 percent.

The 30-year Treasury bond yield dipped to 4.78 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...

Court rules in favor of brokerage in payment-advance dispute

The Kansas Supreme Court has ruled that a real estate brokerage company is not obligated to compensate an advance payment company for money that two of the brokerage's agents received as an advance for anticipated commission income.

The two agents "assigned their earnings in violation" of state code, according to the Kansas Supreme Court ruling, and Commission Express, the company that offered ad  more...

Third-quarter profits rise at IAC

IAC/InterActiveCorp., owner of LendingTree and RealEstate.com, today reported a 10.1 percent increase in quarterly profit over the same period a year ago, with GAAP diluted earnings per share at 24 cents a share, up from 20 cents a share last year.

Third-quarter revenue increased 11 percent to $1.6 billion, according to the media and Internet company's earnings announcement.

IAC said the quarter reflects a modest increase in retailing, while revenue from HSN was flat and real estate and lending revenue was lower due to fewer sales closings.  more...