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Title industry under scrutiny again Premium Content

By Glenn Roberts Jr., Thursday, April 19, 2007.

Limited regulation, complicated business affiliations and an apparent lack of consumer protections have clouded title insurance industry operations, and regulators must step up oversight and enforcement to ensure cost competition and prevent illegal activities, a government report concludes.

"Given consumers' weak position in the title insurance market, regulatory efforts to ensure reasonable prices and deter illegal marketing activities are critical.  more...

$45M Mass. office sale

By Inman News, Thursday, April 19, 2007.

Digital Realty Trust Inc. recently sold a 197,000-square-foot office building in Stoughton, Mass., for $45.5 million.

The six-story property, located at 100 Technology Center Drive, was built in 1988 as the world headquarters for footwear and clothing company Reebok. It was renovated in 2001.

H.N Gorin Associates purchased the 10.1-acre asset, which also includes a fitness center with locker rooms and a café.

Comcast leases customer support center

By Inman News, Thursday, April 19, 2007.

Comcast of Southeast Pennsylvania LLC, an affiliate of Comcast Corp., recently signed a lease for 115,664 square feet of space in Newark, Del., to be used as a customer support center for its regional cable and Internet services.

American Financial Realty Trust owns the space, located at 300 N. Wakefield Drive, and signed Comcast to a 10-year lease for the whole building.

The deal is expected to generate 300 new jobs by year's end and as many as 500 additional jobs in 2008, according to a press statement.

S.F. Bay Area retail deals top $53M

By Inman News, Thursday, April 19, 2007.

NAI BT Commercial negotiated the sale of two retail properties in the San Francisco Bay Area for a total price of $53.7 million.

In the first transaction, Fowler Property Acquisitions purchased the 138,368-square-foot Fairway Park Shopping Center in Hayward, Calif., for $20 million, or $144.54 a square foot.

The property, developed in 1955 and owned by the same family ever since, was acquired for redevelopment. Fowler plans to re-lease the space recently vacated by Albertson's with a smaller-sized grocer.  more...

Largest U.S. home builder's earnings plunge 85%

By Inman News, Thursday, April 19, 2007.

D.R. Horton Inc., the largest U.S. home builder, today reported an 85 percent decline in quarterly earnings as market conditions continue to challenge the nation's home builders.

The company said that net income for its second fiscal quarter ended March 31 was $51.7 million, or 16 cents per share, down from $352.8 million, or $1.11 per share, during the same period a year ago. The 2007 quarterly earnings included charges related to the lower value of land.  more...

Mortgage rates edge lower this week

By Inman News, Thursday, April 19, 2007.

Sluggishness in the latest core inflation measure helped ease markets' fears and brought mortgage rates down, Freddie Mac and Bankrate.com reported today in their weekly surveys.

Freddie Mac reported that the 30-year fixed-rate mortgage fell to an average 6.17 percent from 6.22 percent last week, and the 15-year fixed rate dipped from 5.9 percent to 5.89 percent. Points, which are fees lenders charge for loan processing expressed as a percent of the loan, averaged 0.5 on the 30- and 15-year loans.  more...

Jobs, housing give economy slight boost

By Inman News, Thursday, April 19, 2007.

The economic outlook brightened somewhat in March as jobless claims dropped and home construction picked up, The Conference Board reported today.

The U.S. leading index, a key barometer of future economic conditions, gained 0.1 percent last month to 137.4, with six of the 10 leading indicators advancing. However, the index is still 0.8 percent below its year-ago level.

In the six months from September to March, the leading index fell 0.1 percent (a -0.3 percent annual rate).  more...

Overnight real estate rates fall

By Inman News, Thursday, April 19, 2007.

Long-term mortgage interest rates were down Wednesday, and the benchmark 10-year Treasury bond yield dropped to 4.65 percent.

The 30-year fixed-rate average fell to 5.78 percent, and the 15-year fixed rate was down at 5.52 percent. The 1-year adjustable dipped to 5.37 percent.

The 30-year Treasury bond yield sank to 4.82 percent.

Rates and bonds 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...

Freddie Mac to help troubled homeowners

By Inman News, Thursday, April 19, 2007.

U.S.  more...