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Tool rental done right

By Paul Bianchina, Thursday, October 23, 2008.

It's a simple fact of life that every home improvement project requires tools of some sort. As a result, just about every homeowner has a toolbox -- or at least a kitchen drawer -- with a decent assortment of hand tools. But what happens when your project requires a jackhammer, an airless paint sprayer or perhaps even a tractor?  more...

America's urban planning on wrong track

By Arrol Gellner, Thursday, October 23, 2008.

What if we paved over the whole state of Wisconsin?

Actually, we already have. According to recent Federal Highway Administration figures, the United States has close to 240 million motor vehicles -- almost 40 million more cars than there are licensed drivers -- and just under 4 million miles of paved roads for them to run on. All told, some 61,000 square miles of the United States -- an area just a little smaller than the Beaver State -- is solidly paved over, either with roads or with parking. And of course, there's always more pavement on the way.  more...

Sure-fire ways to boost Web leads Premium Content

By Bernice Ross, Thursday, October 23, 2008.

Agents spend millions of dollars each year on Web sites. Many generate no leads. If you want to turn your Web site into a lead-generation machine, here are four tried and true ways to do it.

1. Identify a "sliver" market
To create an effective Web site, you must actually begin the process offline. The first and most important step is to determine a specific niche your Web site will serve. While traditional marketers often try to be all things to all people, Web marketing succeeds best when it is highly targeted.  more...

Home-price declines slowed in August

By Inman News, Thursday, October 23, 2008.

National home price declines slowed slightly in August, according to an index tracking homes bought using mortgages purchased or guaranteed by Fannie Mae and Freddie Mac.

U.S. home prices fell 0.6 percent on a seasonally-adjusted basis from July to August, compared to a 0.8 percent decline in July, according to the Federal Housing Finance Agency’s monthly House Price Index.  more...

DOJ, NAR settlement moving forward Premium Content

By Matt Carter, Thursday, October 23, 2008.

The Department of Justice and the National Association of Realtors have agreed to minor modifications to their proposed settlement of the government's antitrust lawsuit against the Realtors' association, paving the way for a final judgment in the three-year old lawsuit.

The government says the settlement will give consumers access to multiple listing service data on on homes for sale similar to that enjoyed by Realtors. After wrapping up their review of public comments submitted during a 60-day window, the DOJ proposed leaving the settlement virtually unchanged.  more...

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Mortgage rates ease back to 6%

By Inman News, Thursday, October 23, 2008.

Interest rates on fixed-rate loans dipped back down to near or below 6 percent this week, thanks to reduced fears of inflation and continued weakness in the housing market, Freddie Mac said.

The average rate for a 30-year fixed-rate mortgage (FRM) averaged 6.04 percent with an average 0.6 point for the week ending Oct. 23, down from 6.46 percent last week and 6.33 percent a year ago, according to Freddie Mac's latest Primary Mortgage Market Survey.

The 15-year FRM averaged 5.72 percent with an average 0.6 point, down from 6.14 percent last week and 5.99 percent a year ago.  more...

Foreclosures drive surge in S.F. Bay Area sales

By Inman News, Thursday, October 23, 2008.

MDA DataQuick said sales of homes and condos in the San Francisco Bay Area surged 45 percent in September from a year ago -- the largest leap since April, 2002 -- but the median home price slipped 40 percent from last year's peak as the mix of sales included more inland foreclosures.

Nearly 42 percent of all existing homes sold around the Bay Area last month were foreclosed on at some point in the last 12 months, compared to 36.1 percent in August and 6.9 percent a year ago, according to DataQuick.  more...

Dutch toughen up for downturn Premium Content

By Bradley Inman, Thursday, October 23, 2008.
Flickr photo by <a href="http://www.flickr.com/photos/jimg944/2229214461/" target=blank>jimg944</a>.

AMSTERDAM -- Allegedly, the first recorded speculative financial bubble occurred in the Netherlands in the 1630s when, according to Wikipedia, tulip contracts sold for 20 times the annual income of a skilled craftsman. When tulip prices came crashing down so did the economy, according to reports that have not been sufficiently documented for historians to conclude exactly what occurred.

During a visit to Amsterdam with more than 50 local real estate leaders, those in attendance were a bit skeptical of that history, but were keenly aware of and on top of every aspect of the current financial mess  more...

When tenants fight, stay neutral

By Robert Griswold, Thursday, October 23, 2008.

Q: I own a rental home in a very quiet suburban neighborhood. About six months ago I rented the home to a young newlywed couple and everything was fine for the first few months. But the honeymoon is over, and lately I have been getting calls about some very serious and loud disagreements that have led to numerous complaints from neighbors. I spoke to my tenants the first time and then I sent them a written warning. Last weekend I understand the police were called.  more...

Reports: Home prices to keep falling

By Inman News, Thursday, October 23, 2008.

National home prices fell 11.3 percent from a year ago in August, and recently reported layoffs are likely to push foreclosure-related filings past the 3.2 million mark this year, First American CoreLogic said in releasing its latest home-price index.

Year-over-year nominal home-price declines -- changes over a 12-month period, unadjusted for inflation -- have held steady at around 11 percent for three consecutive months, said Mark Fleming, chief economist for First American CoreLogic.  more...

Foreclosure filings down 12% in September

By Inman News, Thursday, October 23, 2008.

New state laws that require loan servicers to give advance notice before filing a notice of default helped push down foreclosure-related filings by 12 percent nationwide in September, data aggregator RealtyTrac said today.  more...