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Marcus & Millichap brokers sale of Laurel Mall

By Inman News, Friday, February 24, 2006.

Marcus & Millichap negotiated the sale of Laurel Mall, a retail plaza that encompasses 502,589 rentable square feet, in Laurel, Md.

The value of the transaction was $31 million.

A joint venture between Somera Capital Management, a Los Angeles-based national opportunity fund, and AEW Capital Management, a Boston-based pension fund advisor, purchased the property from an undisclosed entity.  more...

STAG completes sale/leaseback with Goody's Family Clothing

By Inman News, Friday, February 24, 2006.

STAG Capital Partners has purchased approximately 750,000 square feet of office, warehouse and distribution facilities located in Knoxville, Tenn., and Russellville, Ark., as part of a 20-year sale/leaseback transaction with Goody's Family Clothing Inc.

The value of the transaction was not disclosed.

Goody's is a retailer of moderately priced family apparel with 381 stores located in small- to mid-sized markets in the Southeast, Midwest and Southwest regions of the United States.  more...

Sacramento office complex sells for $27 million

By Inman News, Friday, February 24, 2006.

Grubb & Ellis/BRE Commercial announced the sale of the Creekside Oaks Office Complex in Sacramento, Calif., which sold for $27 million.

The three-building, 178,000-square-foot complex, located at 1740-1760 Creekside Oaks Drive, was approximately 69 percent leased at closing to 15 tenants, including Informatix, Medstat Group, MCI Telecommunications and Honeywell International.

Located in northwest Sacramento, the project is in the South Natomas submarket near amenities that include several hotels, restaurants, an extensive park system and the Natomas Racquet Club.  more...

LandAmerica posts another quarter of record revenue

By Inman News, Friday, February 24, 2006.

LandAmerica Financial Group's operating revenue once again passed the billion-dollar mark, hitting $1.07 billion in the fourth quarter of 2005, an increase of $151.9 million over third-quarter -2004.  more...

Bond giant makes 'good case' for real estate slowdown

By Lou Barnes, Friday, February 24, 2006.

Mortgage rates are still within a closing-cost argument of 6.25 percent, held stationary by 10-year T-notes locked in trading between 4.5 percent and 4.6 percent.

The bond market is in a total standoff: fears of an overheating economy and energy-pushed inflation are matched by belief that a rapidly cooling housing market will slow the economy. In the slowdown equation, it doesn't matter how high the Fed pushes short-term rates; the farther it does, the quicker and more the economy will slow, and the more money that owners of bonds will make in the slowdown.  more...

Study: Predatory lending laws work without stifling credit

By Inman News, Friday, February 24, 2006.

Laws against predatory lending work without cutting off credit, according to a study released by the Center for Responsible Lending, a nonpartisan research and policy organization.

States with the strongest predatory lending laws -- Massachusetts, New Jersey, New Mexico, New York, North Carolina and West Virginia -- showed the largest declines in loans with predatory terms, according to the study, "The Best Value in the Subprime Market: State Predatory Lending Reforms," which examined more than 6 million subprime mortgag  more...

Test of a realty rookie

By Alison Rogers, Friday, February 24, 2006.

As a real estate rookie who has yet to connect with my first pitch, I've eagerly read Bernice Ross's three-part series on agent success. For those of you who missed it, RealEstateCoach.com, which is her site, partnered with isucceed.com and realestatesimulator.com to find correlates of success for rookie agents.  more...

Central Ohio posts record month in real estate

By Inman News, Friday, February 24, 2006.

Home sales in Central Ohio set a record for the month of January, as closed transactions grew 7.5 percent from a year ago, the Columbus Board of Realtors reported.

January statistics indicate that 1,346 homes sold last month, up from 1,252 during the previous January, according to the board.

"There certainly is an excellent selection of homes available right now," said Chris Reese, president of the Columbus Board of Realtors.  more...

Mixed movement in overnight real estate rates

By Inman News, Friday, February 24, 2006.

Long-term mortgage interest rates were scattered Thursday, and the benchmark 10-year Treasury bond yield rose to 4.56 percent.

The 30-year fixed-rate average slipped to 5.8 percent, and the 15-year fixed-rate gained to 5.46 percent. The 1-year adjustable was unchanged at 4.63 percent.

The 30-year Treasury bond yield increased to 4.5 percent.

Rates 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...

Simple strategies for online real estate exposure Premium Content

By Bernice Ross, Friday, February 24, 2006.

(This is Part 1 of a two-part series. See Part 2.)

Do you want to help your sellers get the most for their property while also earning a full commission?  more...

HUD awards 'sweat equity' real estate grants

By Inman News, Friday, February 24, 2006.

HUD is awarding $24.8 million in so-called "sweat equity grants" to four national and regional organizations through the Department's Self-Help Homeownership Opportunity Program, the agency announced Wednesday.

Pamela Patenaude, HUD's assistant secretary, said the grants will benefit about 1,500 families.  more...

Winter weather wreaks havoc on water pipes

By Paul Bianchina, Friday, February 24, 2006.

When winter's cold hits, waterlines can become very vulnerable to damage. If the metal pipes become cold enough, water in the lines can freeze and expand, splitting the pipe or popping joints loose. When the ice thaws, water can pour through the damaged areas, resulting in quite a bit of damage to your home.

Because of the easy access it provides to plumbing fixtures, crawlspaces are a favorite place for plumbing pipes to be located.  more...

Work at home, save a bundle on taxes

By Robert Bruss, Friday, February 24, 2006.

(This is Part 7 of an eight-part series.  more...