Home

'The Royalton' sells in Pasadena

By Inman News, Thursday, June 7, 2007.

Beverly Hills, Calif.-based developer StarPoint Properties LLC has purchased a 61-unit apartment building in nearby Pasadena for approximately $9.4 million.

Known as "The Royalton," the property is located at 2211 East Washington Blvd. It was built in 1965 and has a mix that includes one bachelor unit, 29 one-bedroom/one-bath units, five two-bedroom/one-bath units, 20 two-bedroom/two-bath units and six three-bedroom/two-bath units.

The seller was a private party.  more...

Big Corpus Christi multifamily deal

By Inman News, Thursday, June 7, 2007.

Tenant-in-common investors recently acquired a 220-unit multifamily complex in Corpus Christi, Texas, for an undisclosed price.

The San Marin Apartments, sold by Parkwood Management, is located on 9.5 acres. Built in 1998, the property is comprised of 10 three-story apartment buildings totaling approximately 192,000 square feet, with an average unit size of 873 square feet.  more...

Hines, CalPERS partner in Texas

By Inman News, Thursday, June 7, 2007.

International real estate firm Hines and the California Public Employees' Retirement System (CalPERS) recently purchased a 22-story office tower in Austin, Texas, for an undisclosed amount.

The 418,338-square-foot building, located at Congress and E. 3rd Street, was sold by a joint venture between Crescent Real Estate Equities Co. and Aetna.

Parking is provided in a nine-level attached garage -- four levels below-grade parking and five levels above-grade.  more...

Ohio charges 10 companies with pressuring appraisers Premium Content

By Matt Carter, Thursday, June 7, 2007.

Ohio's attorney general has filed complaints against nine mortgage brokers and lenders who allegedly tried to pressure appraisers into making inflated valuations in violation of the state's new anti-predatory-lending law.

In nine separate lawsuits, the state charges that mortgage brokers and lenders provided appraisers with estimated values when requesting valuations, in some cases urging them not to carry out an appraisal if the estimates could not be validated.  more...

FSBOs do better than agent listings in Wisconsin town Premium Content

By Inman News, Thursday, June 7, 2007.

Two economists have taken on the question: Who gets the better deal -- the home seller who uses a real estate agent and the local multiple listing service or the seller who does it on his own? Their conclusion is that the for-sale-by-owner does. At least in one Midwest city.  more...

Real estate rates still higher overnight

By Inman News, Thursday, June 7, 2007.

Long-term mortgage interest rates were up again Thursday, and the benchmark 10-year Treasury bond yield jumped to 5.13 percent.

The 30-year fixed-rate average rose to 6.19 percent, and the 15-year fixed rate grew to 5.89 percent. The 1-year adjustable climbed to 5.57 percent.

The 30-year Treasury bond yield gained strongly to 5.23 percent.

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

Connect with bloggers around the world

By Inman News, Thursday, June 7, 2007.

Real estate bloggers from around the globe will gather in San Francisco for a two-day real estate blogging and networking event, July 31-Aug 1, to discuss changes taking place in the blogosphere and the best ways to use blogging in your business.

The first Bloggers Connect conference includes panel sessions on finding your voice, monetizing your blog, utilizing your blog for online leads, social networking, widgets and more.  more...