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Real estate rates get overnight boost

By Inman News, Tuesday, December 19, 2006.

Long-term mortgage interest rates were higher Monday, and the benchmark 10-year Treasury bond yield slipped to 4.58 percent.

The 30-year fixed-rate average rose to 5.68 percent, and the 15-year fixed rate gained to 5.43 percent. The 1-year adjustable was up at 5.32 percent.

The 30-year Treasury bond yield held at 4.71 percent.

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

Inman News 2006 forecast report card Premium Content

By Inman News, Tuesday, December 19, 2006.

A year ago, Inman News provided a list of real estate predictions for 2006. Here's how we did:

Prediction 1: The Google Base listing service will be a major hit and completely rearrange the online listings and lead generation landscape for real estate, marketing and media companies.

Google Base steadily picked up real estate listings throughout the year and in November launched a single page for real estate professionals to help them load listings in bulk or individually.  more...

Difficulties for inexperienced home inspectors

By Barry Stone, Tuesday, December 19, 2006.

Dear Barry,  more...

Can property partner force sale of condo?

By Robert Bruss, Tuesday, December 19, 2006.

DEAR BOB: Two years ago my partner and I bought a condo together. I paid the entire down payment and we have split the mortgage payments, condo fees and property taxes since then. However, he recently moved out and says he wants his half of the equity (which I figure is around $45,000). I don't have that kind of money to buy him out. Nor will I be able to pay the expenses on my own. Can he force the sale of our condo? --Tamara Y.  more...

Even 'dummies' can flip houses

By Robert Bruss, Tuesday, December 19, 2006.

In good markets or bad, real estate broker Ralph R. Roberts reveals in "Flipping Houses for Dummies" how he acquires run-down houses, fixes them up, and then either "flips" (sells) them for a profit or holds for long-term investment. Roberts, a highly respected real estate author, trainer and broker, shares his techniques along with advice on how to minimize the tax bite on profits.  more...

Hines acquires 5-property portfolio

By Inman News, Monday, December 18, 2006.

Hines, the international real estate firm, announced today that it has acquired Watergate Office Towers, a 1.2 million-square-foot, five-building suburban office complex in Emeryville, Calif.

The value of the transaction was not disclosed.

The complex comprises four high-rise office buildings (Towers I, II, III and IV) and a free-standing Chevy's restaurant. The development is located on a 22.4-acre tract alongside Interstate 80 on the eastern shores of the San Francisco Bay, less than one mile from the eastern terminus of the San Francisco-Oakland Bay Bridge.  more...

Transwestern fund takes Columbia Centre

By Inman News, Monday, December 18, 2006.

Transwestern Investment Co.'s equity fund, Aslan Realty Partners III LLC, acquired a nine-story, 221,000-square-foot office building in Rosemont, Ill., for an undisclosed price.

Columbia Centre I is situated within a 608,000-square-foot office complex less than one mile from O'Hare International Airport. The other buildings, Columbia Centre I and III, are also owned by Transwestern.  more...

Feds charge former Fannie Mae execs with manipulating earnings

By Matt Carter, Monday, December 18, 2006.

Government regulators said Monday they will seek more than $100 million in civil penalties from three former Fannie Mae executives accused of submitting six years of inaccurate accounting reports, and the return of more than $115 million in bonuses.

The Office of Federal Housing Enterprise Oversight filed 101 charges against former Fannie Mae Chairman and Chief Executive Officer Franklin Raines, former Chief Financial Officer J. Timothy Howard, and former controller Leanne G. Spencer.  more...

Realogy roots run deep with prospective buyer Premium Content

By Glenn Roberts Jr., Monday, December 18, 2006.

The private equity firm that plans to acquire real estate giant Realogy Corp. also played an integral role in building up its business.

NRT Inc., a subsidiary of Realogy Corp. that oversees company-owned brokerage operations, was formed in 1997 through a $232 million venture by a group affiliated with Apollo Management L.P. and by HFS Inc., a predecessor to Realogy's former parent company. HFS reportedly invested $157 million of the initial financing for NRT while Apollo invested $75 million. Realogy this year was spun off from former parent Cendant Corp.  more...

Dallas housing slowdown drags single-family market

By Inman News, Monday, December 18, 2006.

The Cendant/Realogy real estate adventure Premium Content

By Glenn Roberts Jr., Monday, December 18, 2006.

Editor's note: An affiliate of private equity firm Apollo Management L.P. has entered into an agreement to acquire real estate brokerage giant Realogy -- formerly the real estate arm of Cendant Corp. -- in a deal valued at about $9 billion. This article, published earlier this year, describes the Cendant/Realogy adventure in real estate.  more...

Realogy announces acquisition agreement with equity firm Premium Content

By Inman News, Monday, December 18, 2006.

An affiliate of private equity firm Apollo Management L.P. has entered into an agreement to acquire real estate brokerage giant Realogy -- formerly the real estate arm of Cendant Corp.  more...

Maryland real estate slowdown deepens

By Inman News, Monday, December 18, 2006.

Maryland home sales cooled for the 14th straight month in November amid a gigantic supply of listings, as annual price growth gained slightly, according to statistics provided by the Maryland Association of Realtors.

There were 5,278 sales of new and existing single-family homes and condos last month, down 19.4 percent from a year earlier when 7,107 units were sold.  more...

Real estate rates down overnight

By Inman News, Monday, December 18, 2006.

Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield slipped to 4.59 percent.

The 30-year fixed-rate average dipped to 5.64 percent, and the 15-year fixed rate sank to 5.4 percent. The 1-year adjustable held at 5.3 percent.

The 30-year Treasury bond yield decreased to 4.71 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...

2006 real estate forecaster report card Premium Content

By Matt Carter, Monday, December 18, 2006.

Each year, Inman News reports on what the major trade group economists are forecasting for real estate the coming year. Now, we look back at what they told us last year to see how their original predictions played out.

Here's a look at what the trade groups thought was in store for 2006, and what each group now projects as the actual results for the year.  more...

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