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California MLSs reveal sharing details

By Inman News, Tuesday, October 14, 2008.

Members of four Northern California multiple listing services will gain direct access to all of the MLSs beginning on Dec. 15, according to a Tuesday announcement, and members of three additional MLSs will join and further expand this data-sharing agreement in first-quarter 2009. MLS officials had announced the plan in September -- the December launch for the first group of MLSs is ahead of the original schedule.  more...

Best plan for insulating garage

By Bill and Kevin Burnett, Tuesday, October 14, 2008.

Q: I have an open ceiling in my garage that is insulated with paper-backed R-13 batts with the fiberglass exposed and held in place by metal strips. The ceiling has a lot of pipes and wires running over the ceiling joists.  more...

How option ARMs killed WaMu

By Tom Kelly, Tuesday, October 14, 2008.

(This is Part 2 of a two-part series. Read Part 1, "WaMu failed to heed lesson learned in '80s.")

Kerry Killinger, the former strategist at the brokerage firm Murphey Favre, became Washington Mutual's chief executive in 1990. He made his first significant money by flipping investment homes in eastern Washington state and deeply believed in the power of the housing industry.  more...

The pastime of part-time real estate

By Kris Berg, Tuesday, October 14, 2008.

This week, I was presented with one more bit of evidence that our industry, my career, is like none other. It's unique in a lot of good ways, yet some not so good.

In response to my rhetorical yet obligatory how-was-your-day query, my 16-year-old tax deduction shared how a woman had happened to sit in on her high school drama class this particular afternoon. My logical and immediate response was, "Why?" According to my own thespian-wannabe, the woman, a fan of the arts, was there to take notes.  more...

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Plan C

By , Tuesday, October 14, 2008.

Many alternatives to the Paulson rescue plan have been floated in the last few weeks, but this one has to beat them all.

John Hagelin, a self-described "world-renowned quantum physicist" says large groups of experts practicing advanced transcendental meditation techniques of Maharishi Mahesh Yogi can be mobilized in New York City and other global financial centers to defuse stress and fear.  more...

Redfin blames economy in layoffs

By , Tuesday, October 14, 2008.

Real estate brokerage company Redfin has laid off about 20 percent of its employees, and CEO Glenn Kelman assured today that that the downsizing has more to do with "drastic economic changes" than the company's business model.

Kelman said there are 75 to 80 employees remaining at the company, which means the layoffs announced Tuesday morning affect up to 20 employees.

The layoffs were effective immediately, and employees were all offered a severance package, Kelman said.  more...

Paying the price for the bubble

By , Tuesday, October 14, 2008.
<a href="http://flickr.com/photos/junkchest/56897033/">Flickr photo by Glenn Loos-Austin</a>.

This is the first recession for most members of the National Association of Realtors -- and it will be the last that some of them will experience as Realtors, says Al Mayer, a real estate coach and industry veteran of 43 years.

The trade group's membership grew about 86.2 percent from 1998 to 2007, reaching 1.34 million last year. And about two-thirds of the current members have joined the industry in the past 10 years, said Mayer.  more...

New direction for rescue plan

By , Tuesday, October 14, 2008.

The Bush administration today announced a change course in its implementation of the $700 billion Troubled Asset Relief Program, with most of the initial $350 billion authorization now earmarked to buy preferred stock in banks rather than mortgage backed securities and whole mortgage loans.

The change in direction -- part of a global response to the credit crisis officials said was necessitated by the continued reluctance of banks to loan each other money -- is intended to restore lending by recapitalizing banks.  more...

Where in NYC fits me best?

By Inman News, Tuesday, October 14, 2008.

For those moving to a new city, a tool from Homethinking.com helps consumers choose a neighborhood by identifying which are most similar to where they currently live.

Users who visit neighborhoods.homethinking.com can compare neighborhoods of several U.S. cities and get a feel for which may be the best fit for them based on scores derived from ratings of people, activities, arts/culture, and vibe.  more...

Latest prices in Manhattan neighborhoods

By Inman News, Tuesday, October 14, 2008.

Radar Logic today began publishing daily residential price indices for eight Manhattan neighborhoods to help investors and real estate professionals focus returns and manage risk on real estate assets.

The daily price-per-square-foot will be tracked in the Upper West Side, the Upper East Side, Midtown/Clinton, Murray Hill/Gramercy, Chelsea/West Village, East Village/Lower East Side, SoHo/Tribeca and the Financial District.  more...