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Study notes decline in overvalued real estate markets

By Inman News, Monday, March 19, 2007.

Fourth-quarter home prices declined in 23 percent of metro areas included in a study released today, while the total number of overvalued housing units dropped.

The "House Prices in America" study revealed that 72 of 317 metro areas studied experienced price declines in the fourth quarter, up from 65 metro areas with price declines in third-quarter 2006.  more...

Study predicts 1.1 million foreclosures among ARM loans Premium Content

By Matt Carter, Monday, March 19, 2007.

Last week, former Federal Reserve Chairman Alan Greenspan told futures traders at a conference in Florida that if home prices would just go up 10 percent, "the subprime mortgage problem would disappear."

You have to wonder whether Greenspan got an advance copy of one of the most sophisticated studies to date on a question that's keeping a lot of people awake at night: how much trouble are America's homeowners in?

Like Greenspan's observations in Boca Raton, the study -- by Christopher L. Cagan, director of research and analytics at First American CoreLogic Inc.  more...

Overnight real estate rates barely budge

By Inman News, Monday, March 19, 2007.

Long-term mortgage interest rates were mostly flat Friday, and the benchmark 10-year Treasury bond yield gained to 4.55 percent.

The 30-year fixed-rate average dipped to 5.67 percent, and the 15-year fixed rate held at 5.43 percent. The 1-year adjustable gained to 5.31 percent.

The 30-year Treasury bond yield stayed at 4.69 percent.

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

Bascom adds apartments in Denver

By Inman News, Monday, March 19, 2007.

The Bascom Group LLC recently acquired the Regis Place Apartments in Denver, Colo., for a price of $10.6 million.

The property, located at 4703 West 52nd Ave., is a 127-unit, garden-style apartment community located in the city's Mountain View neighborhood. The complex spans approximately six acres and includes a fitness center, business center, tot lot, heated swimming pool, and spa.  more...

STAG Capital buys on Florida coast

By Inman News, Monday, March 19, 2007.

STAG Capital Partners recently purchased a 142,857-square-foot manufacturing facility in Daytona Beach, Fla., as part of a 10-year sale-leaseback transaction with Crane Cams Inc., a subsidiary of Mikronite Technologies.

The value of the transaction was not disclosed.

The building sits on 9.97 acres of land at 530 Fentress Blvd., and was 100 percent leased by Crane Cams, a manufacturer of camshafts and valve train components.

STAG Capital Partners actively acquires warehouse, flex, manufacturing and office buildings nationwide.

Woodlark Capital closes third acquisition of '07

By Inman News, Monday, March 19, 2007.

Woodlark Capital LLC recently purchased a 300-unit, garden-style apartment complex in Valdosta, Ga., for $11.3 million.

The Woodstone Apartments property, which marks Woodlark's second acquisition in the Valdosta market, is located one mile from Valdosta State University's campus.

Built in 1978, the Woodstone Apartments sits on 122 acres and consists of 29 two-story buildings. Amenities include two swimming pools, two tennis courts, three on-site laundry facilities, a playground and a 1.5-mile jogging trail.  more...

NovaStar to cut 350 positions in wholesale loan originations

By Matt Carter, Monday, March 19, 2007.

Subprime lender NovaStar Financial Inc. will cut 17 percent of its workforce, laying off 350 workers at its Kansas City, Mo., headquarters, and at operations centers in California and Ohio.

The job cuts, to be completed by the second quarter, target NovaStar's wholesale loan originations and do not affect loan servicing, the company said. The layoffs are expected to cost the company up to $3.1 million this quarter but reduce long-term costs.  more...

 
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