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N.J. portfolio sold to High Street Equity

By Inman News, Friday, April 18, 2008.

Brokerage Cushman & Wakefield today announced it arranged the sale of an 11-building industrial portfolio in northern New Jersey totaling 749,762 square feet.

Marking its continued expansion in the Garden State, High Street Equity Advisors acquired the assets for an undisclosed price.  more...

Fannie Mae execs give up $31.4M in settlement

By Inman News, Friday, April 18, 2008.

Three former Fannie Mae executives have agreed to pay $31.4 million in penalties and restitution to settle charges that they manipulated earnings from 1998 to 2004.  more...

Bush taps ex-ServiceMaster exec to run HUD Premium Content

By Inman News, Friday, April 18, 2008.
Steve Preston

Steve Preston, a 47-year-old University of Chicago MBA who currently heads up the Small Business Administration, has been nominated to succeed Alphonso Jackson as the Bush administration's Secretary of Housing.

Preston's time at the Department of Housing and Urban Development may be brief, as he can expect to be replaced after the next president takes the oath of office Jan. 20. His appointment follows Jackson's resignation amid allegations that he used his position to help friends and thwart political opponents (see Inman News story).  more...

PropertyMaps.com rolls out parcel boundaries

By Inman News, Friday, April 18, 2008.
PropertyMaps.com parcel map

PropertyMaps.com, a property-search Web site formed by a network of independent real estate brokers, has added views of parcel boundaries for 80 million properties nationwide.

The site, which features multiple listing service-based for-sale property listings information shared by its broker network, now offers about 1.3 million listings, according to a company announcement this week, and expects to reach 2.2 million active for-sale listings by July.  more...

NAR's 'Gateway' project gets new name Premium Content

By Inman News, Friday, April 18, 2008.

The Gateway, a real estate information portal envisioned by a National Association of Realtors advisory group, has been re-branded -- at least temporarily -- as The Real Estate Channel.  more...

Real estate rates post gains overnight

By Inman News, Friday, April 18, 2008.

Long-term mortgage interest rates were up again Thursday, and the benchmark 10-year Treasury bond yield rose to 3.73 percent.

The 30-year fixed-rate average climbed to 5.87 percent, and the 15-year fixed rate gained to 5.44 percent. Meanwhile, the 1-year adjustable rate rose to 5.77 percent.

The 30-year Treasury bond yield was up at 4.52 percent.

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

Terabitz sends listings to iPhones

By Inman News, Friday, April 18, 2008.
Search homes for sale on the iPhone

Terabitz -- the Silicon Valley company that helps real estate brokers build sophisticated Web sites with beefed-up content -- has launched a search application that allows iPhone users to access property listings and neighborhood information.

The iPhone search application will eventually be available to the public wherever Terabitz has broker partners that provide access to the local MLS.  more...