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Bridge collapse on I-35 north of Austin

SALADO, Texas (AP) — Emergency crews are responding to a reported bridge collapse along an interstate in Central Texas.

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Amazon begins Prime Now program in Dallas area

If you just have to have it now, as in one hour, you can, at least in the Dallas area, as Amazon.com Inc. announced Thursday it will offer Prime Now.

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Monty Bennett: Businessman, water district activist

Monty Bennett’s name will not appear on the ballot for the Tarrant Regional Water District board of directors yet he remains a powerful backstage player whose influence could shape the direction of the district’s business for years to come.

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Price appeal: Condos going up on Near Southside

Chris Brassard and Omar Diaz had apartments in mind when they built a 12-unit complex on May Street just south of West Magnolia Avenue on Fort Worth’s Near Southside. Then their leasing agent, Will Northern of Northern Realty Group, suggested they consider selling the units as condominiums.

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Westchester Plaza manager says "business as usual" for now

The future of a redevelopment plan for the 50-year-old Westchester Plaza on Fort Worth's Near Southside is unclear.

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Re/Max going public as housing market stays hot

Maureen Farrell

NEW YORK (CNNMoney) -- Just how hot is the housing market? Re/Max, one of the word's largest real estate brokerage firms, will soon find out.

Re/Max, which has been private since its founding in 1973, filed initial paperwork with the SEC for a $100 million initial public offering.

The real estate brokerage operates as a franchisee with roughly 90,000 agents in more than 90 countries.

But Re/Max is predominantly a U.S. housing company. It noted in its prospectus that 74% of its revenue in 2012 came from the U.S and said it's uniquely poised to take advantage of the continuing U.S. housing recovery.

Re/Max's competitor Realogy, which owns Coldwell Banker and Century 21, tested the IPO waters late last year and has been on fire since then. Its shares are up nearly 60% from its IPO price.

Realogy's shares have soared even as it admitted in its IPO filing that it would use the bulk of its proceed to pay down $4.5 billion in debt from the Apollo Group, which took the company private in 2007.

Like Realogy, Re/Max is partly owned by a private equity fund. But Re/Max's investors -- Weston Presidio -- have not piled much debt on the agency.

Re/Max's founders, husband and wife Gail and Dave Liniger, still own a majority of the company. According to the SEC filing, they will retain a majority of voting control.

Re/Max was hit hard by the real estate bust. Its agent count dropped from 120,000 at its peak to 90,000 currently. The company derives roughly 40% of its revenues from fixed fees that franchisees pay for agents on their staff. The rest comes from a mix of annual dues and fees tied to real estate sales.

Still, Re/Max managed to return to profitability in the past few years, despite only a modest increase in revenues since 2010. After reporting losses in 2010, profits jumped to $24 million in 2011 and $33 million in 2012.

Another sign of the fiery real estate market: Just this week, the online real estate website Zillow spent $50 million on the website StreetEasy to bulk up its listings in New York City.

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