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Tampa buildings sell for $15M

By Inman News, Friday, May 30, 2008.

Brokerage Marcus & Millichap today announced it arranged the sale of President's Plaza and Corporex Plaza, totaling an aggregate 135,818 square feet, in Tampa, Fla.

The sales price was nearly $15.1 million.

A New Jersey-based private partnership purchased the office facilities from an affiliate of The Leder Group. President's Plaza, located at 4801 and 4803 George Road, comprises 41,513 square feet in two single-story buildings. Corporex Plaza, located at 3902 and 3904 Corporex Park Drive, is comprised of three buildings totaling 94,305 square feet.  more...

Public Storage lands SoCal facility

By Inman News, Friday, May 30, 2008.

Public Storage Inc., a global owner and operator of self-storage facilities, has added another property to its portfolio with its latest San Diego County purchase.

The company paid an undisclosed price for Carlsbad Village Self Storage, which is located at 3235 Tyler St. in Carlsbad, Calif.  more...

Complex loans more costly for borrowers Premium Content

By Inman News, Friday, May 30, 2008.

Complex loan arrangements raise the cost of borrowing for home buyers. Loans made by mortgage brokers are more expensive than those originated by direct lenders. Fees for title services can vary considerably. Almost half of real estate agents charge less than 6 percent commissions.  more...

Florida regional MLS opens public search

By Inman News, Friday, May 30, 2008.

Regional Multiple Listing Service of Florida, which operates in the Palm Beaches and Treasure Coast region, is putting participants' property listings up for public review at a new Web site, HomeToFlorida.com.

Based in Palm Beach Gardens, Fla., RMLS has about 12,700 subscribers who operate 2,535 real estate offices in the region. The new Web site features about 40,000 property listings.  more...

Trulia gets snapshot-happy

By Inman News, Friday, May 30, 2008.
Browse photographs and details of properties for sale in the United States using Trulia Snapshot.

Real estate site Trulia.com has launched a new visual aid for property searches, dubbed Trulia Snapshot.

The visual search tool pulls out a handful of map-linked property photos in a given area and allows users to customize the selected properties based on a price range or whether the listing is stale or fresh.  more...

Mortgage insurers report surge in defaults

By Inman News, Friday, May 30, 2008.

A major lender's change in reporting policies helped drive a 71.2 percent annual increase in defaults reported in April by major mortgage insurance companies, but represents a "one-time adjustment" in a market that "is returning to fundamentals," an industry group said.

In a monthly report, the Mortgage Insurance Companies of America said its members reported 73,880 defaults in April, up from 43,161 a year ago and also besting the previous 12-month high of 68,950 seen in January.  more...

April sees record home loan workouts

By Inman News, Friday, May 30, 2008.

Members of the HOPE NOW coalition of mortgage loan servicers say they arranged workouts with 183,000 troubled borrowers in April -- a 14 percent increase from March and the largest monthly total since the program was launched in July 2007.  more...

One in five renters wants to buy a home in next year

By Inman News, Friday, May 30, 2008.

Nearly one in five renters plans to buy a home in the next year, and 40 percent don't plan on being renters two years from now, according to a survey commissioned by the National Apartment Association.

Some 17 percent of renters said they planned to buy a home within the next year, and 25 percent said they planned to look for a new rental. Only 50 percent said they planned to continue to rent their current residence for longer than a year, and another 13 percent were not sure what they would do.  more...

California MLS prepares for launch Premium Content

By Glenn Roberts Jr., Thursday, May 29, 2008.

Board members for California MLS, a nonprofit, wholly owned subsidiary of the California Association of Realtors, will soon begin the process in selecting a vendor to operate a statewide property information database that could become the default MLS system for Realtors.

The CALMLS board, appointed this month by California Association of Realtors officers, has 17 members who are all real estate agents or brokers and is led by Mike Silvas, broker-owner of Napa-based Morgan Lane Inc.

Silvas, who had served on an MLS task force for the state Realtor group also served as a member of the board of directors for Real Estate Business Technologies, another subsidiary of the state Realtor association, said CALMLS represents a "historic opportunity" for industry participants.  more...

Florida home buyers get Roost

By Inman News, Thursday, May 29, 2008.

Real estate search platform Roost has expanded its coverage of for-sale listings in Florida through partnerships with multiple listings services in greater Orlando, Miami and Tampa Bay, the company said in separate press releases this month.  more...

Inside the mind of Properazzi CEO

By Inman News, Thursday, May 29, 2008.
Yannick Laclau

Yannick Laclau is CEO and founder of Properazzi, an international property Web site that aims to connect real estate agents and developers with new buyers.

Properazzi is now open to agents from the U.S., Dubai, South Africa and Mexico, as well as across Europe and India. The company plans to continue expanding into new locations this year.

Laclau is passionate about opening up the world of real estate through online technologies.  more...

Prudential feeds Propsmart, Zillow

By Inman News, Thursday, May 29, 2008.

Prudential Real Estate Affiliates, a franchise network with about 2,100 offices and 64,000 sales professionals, today announced a distribution agreement to feed about 140,000 property listings to real estate sites Zillow.com and Propsmart.com.  more...

Nightly real estate rates ride higher

By Inman News, Thursday, May 29, 2008.

Long-term mortgage interest rates increased again Wednesday, and the benchmark 10-year Treasury bond yield climbed to 4.01 percent.

The 30-year fixed-rate average rose to 5.95 percent, and the 15-year fixed rate gained to 5.52 percent. Meanwhile, the 1-year adjustable rate increased to 5.92 percent.

The 30-year Treasury bond yield edged up to 4.69 percent.

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

Point2, Local Matters team up on Facebook app

By Inman News, Wednesday, May 28, 2008.

Point2 Technologies Inc., which offers online tools for real estate professionals, and media technology company Local Matters Inc. on Wednesday announced an agreement in operating Point2's Facebook Neighborhoods application.  more...

Florida space occupied by U.S. government sells

By Inman News, Wednesday, May 28, 2008.

An 11,305-square-foot office in Key West, Fla., leased to the Department of Homeland Security and the United States Immigration and Custom Enforcement Facility has sold to private buyers for $10.7 million.

Craig and Kurt Hoffman bought the space from KEY West GSA LLC at a price that represents $969 per square foot.  more...

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