Articles of Interest 6.22.07
Market Watch
The administrative hearing is underway for a Michigan multiple listing service accused by the U.S. Federal Trade Commission of setting restrictions on a type of property-listing agreement in violation of antitrust law, and early witnesses called to testify include a broker for a flat-fee listing company and a publisher for a real estate information company.
Federal Hearing Begins in MLS Antitrust Complaint
Inman Real Estate News
http://www.inman.com/hstory.aspx?ID=63626
Several companies chasing after Realtor.com seek to grab a share of the massive online audience for real estate information by gaining access to large amounts of for-sale content through agents, brokers and MLSs. The increasingly low barriers to entry and rapid evolution of Internet technology is driving industry innovators to quicken the pace in launching new features and functionality. Move Inc. has announced plans to offer free blog sites to Realtors and to engage consumers with user-generated content, neighborhood information and more multimedia features including embedded video in property descriptions.
Move Inc. Offers View From the Top
Inman Real Estate News
http://www.inman.com/InmanNews.aspx?ID=63629
Sacramento County homeowners still win regionally for the shortest time to sell a house. In May it was taking 56 days on average. It took a little longer -- 65 days on average -- in Placer County. The firm reported that El Dorado County houses were on the market an average of 70 days in May. It was taking longest to sell a house in Yolo County: 73 days.
Home Front: Beyond Sacramento, Sales Slow and Slower
Sacramento Bee
http://www.sacbee.com/103/story/235448.html
Women are rapidly becoming the silent majority in the real estate marketplace. While everyone pays attention to the needs of the "typical family," very few people are addressing the specific needs of single female real estate buyers and sellers.
Single Women: Today's Prime Real Estate Niche
Inman Real Estate News
http://www.inman.com/InmanNews.aspx?ID=63630
Silicon Valley real estate developer David A. Taran is betting big on the transformative power of a Palo Alto address, but his ambitions are being stymied by a bitter dispute with a local real estate broker who claims Taran owes him millions of dollars.
East Palo Alto Plan Hits Bump
San Jose Business Journal
http://sanjose.bizjournals.com/sanjose/stories/2007/06/25/story1.html
Planning for San Jose's Coyote Valley could be suspended as soon as next week for an unknown term, perhaps years. And that prospect, however remote, has developers and environmentalists staking out positions.
Suspend Coyote Valley Planning? Staff Says Its Worth a Look
San Jose Business Journal
http://sanjose.bizjournals.com/sanjose/stories/2007/06/25/story5.html
The city administration's onetime belief that a luxury condominium tower could be built downtown without a public subsidy is not realistic, a consultant said at a hearing today on housing downtown. But the market will support the construction of shorter, less expensive flats and townhomes, planning consultant Bruce Race said. At a minimum, he said, the north and south banks of the Stockton Deep Water Channel could support the construction of 1,000 homes, and 3,300 homes could be built across the downtown.
Stockton Considers Housing Options Downtown
Stockton Record
http://www.recordnet.com/apps/pbcs.dll/article?AID=/20070621/A_NEWS/70621005
The faith-based group Congregations Organizing for Renewal wants to make sure the City Council makes affordable housing for all families a higher priority, as city officials look to develop their long-term vision for downtown.
San Leandro Churches Push for Low-Cost Housing
Tri-Valley Herald
http://www.insidebayarea.com/trivalleyherald/localnews/ci_6202161
A dismal housing market but a healthy job market will help increase apartment rental rates and occupancy in the Sacramento region. About 1,000 apartment units are expected to be completed this year, compared to 600 units in 2006, according to the report. But good employment growth -- about 17,400 jobs expected to be added this year, up from 16,000 in 2006 in the four-county region -- will help offset the increase in units.
Higher Rent, Lower Vacancy Rate for Sacramento Apartment Market
Sacramento Business Journal
http://www.bizjournals.com/sacramento/stories/2007/06/18/daily42.html?f=et76&hbx=e_du
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