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Mississippi attorney, pastor's son face real estate fraud charges

By Inman News, Friday, February 17, 2006.

A Mississippi attorney and the son of a high-profile Baptist pastor were among eight people who appeared in U.S. District Court Thursday in connection with a mortgage fraud scheme, media reports said.

Hattiesburg, Miss., attorney Kim Castle entered a plea of not guilty through her attorney Ray Price, reports said. She is accused of bank fraud, wire fraud and money laundering, according to reports.

Vaston Fairley, the 25-year-old son of the Rev.  more...

Broker launches flat-fee real estate network

By Inman News, Friday, February 17, 2006.

Lawrence Bunnell, CEO and principal broker for InSight Realty of Richmond, Va., this week announced the launch of a new Web site, MLSLion.com, to provide flat-fee real estate services nationwide.

The MLSLion network will offer consumers direct access to flat-fee real estate brokers in Alabama, Arizona, California, Colorado, Connecticut, Washington, D.C., Florida, Georgia, Illinois, Kansas, Kentucky, Massachusetts, Maryland, Michigan, Maryland, Minnesota, Missouri, North Carolina, New Jersey, Nevada, New York, Oklahoma, Oregon, Penns  more...

Massachusetts real estate sales nail record in '05 Premium Content

By Inman News, Friday, February 17, 2006.

Despite predictions of a housing slump, the residential real estate market in Massachusetts experienced another year of steady growth in 2005 as total sales of detached single-family homes and condominiums set a record and median prices rose for a 12th consecutive year, according to data issued this week by the Massachusetts Association of Realtors.  more...

One-stop condo portal launches

By Inman News, Friday, February 17, 2006.

Global Condo Center Corp.  more...

Obama proposes reforms to combat real estate loan fraud

By Inman News, Friday, February 17, 2006.

Sen.  more...

Overnight real estate rates barely budge

By Inman News, Friday, February 17, 2006.

Long-term mortgage interest rates were mostly unchanged Thursday, and the benchmark 10-year Treasury bond yield dipped to 4.58 percent.

The 30-year fixed-rate average slipped to 5.86 percent, and the 15-year fixed-rate held at 5.48 percent. The 1-year adjustable was unchanged at 4.6 percent.

The 30-year Treasury bond yield remained at 4.57 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...

No banks in real estate, OCC says

By Inman News, Friday, February 17, 2006.

The U.S. Comptroller of the Currency Thursday said he has no intention of expanding his agency's "limited authority" to breach the separation of banking and commerce.

John C.  more...

Little money buys a lot of industrial space

By Inman News, Friday, February 17, 2006.

Binswanger has negotiated the purchase of a 590,000-square-foot facility on 36 acres in Anderson, Ind., and a 314,052-square-foot facility on 40 acres in Somerset, Ky. The properties are located at 1305 West 29th St. and at 1278 Highway 461, respectively.

The two transactions totaled nearly $2.5 million.

Tower Investments LLC, based in Northern California, is broadening its portfolio with these purchases and planning to retrofit both facilities. The properties will then be available for lease.  more...

Hines REIT acquires Airport Corporate Center

By Inman News, Friday, February 17, 2006.

Hines Real Estate Investment Trust Inc. has acquired a 45-acre office park in Miami, marking its first acquisition in Florida.

The value of the transaction was not disclosed.  more...

Hamilton Place sold at very high vacancy

By Inman News, Friday, February 17, 2006.

Grubb & Ellis Co. arranged the sale of Hamilton Place, a 250,025-square-foot office building in Torrance, Calif.

The value of the transaction was $29.5 million.

Los Angeles-based McCarthy Cook & Co. sold the property to Alliance Commercial Partners, a Denver-based private investment group.  more...

Kentucky shoots down real estate minimum-service proposal Premium Content

By Glenn Roberts Jr., Friday, February 17, 2006.

Legislators in Kentucky have stripped provisions from a proposed bill that sought to establish new service requirements for all real estate licensees in the state.

The Kentucky Real Estate Commission proposed the legislation, which would have allowed the commission to establish a minimum level of services that real estate licensees must perform after entering into a written listing or brokerage agreement with a client.  more...

HotPads gives new look to rental properties

By Glenn Roberts Jr., Friday, February 17, 2006.

HotPads.com, a rental property Web site that launched in November, offers free property listings and free search capabilities to consumers looking for rentals.

The site features a map-based search platform that allows users to specify unit types such as homes (full or divided), condos, large apartment communities and medium-sized apartment buildings. Visitors can also choose whether to search for sublets, corporate housing, rentals or all categories, and the site offers a "find a roommate" search option.  more...