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Jun

30
2008

It's raining 'outside blogs'

By , Monday, June 30, 2008.
Columbus, Ohio, real estate agent Marueen McCabe's ActiveRain outside blog.

The ActiveRain Real Estate Network is offering its nearly 100,000 members free "outside blogs" that they can dress up with their own branding and set up at their own custom domain or a subdomain within ActiveRain.com.

While many companies offer free blogs, Active Rain's rollout of an outside blog capability allows members to write up a post using the network's blogging platform and, with a push of a button, publish to as many as four sites:  more...

Industry mourns loss of October Research founder

By Inman News, Monday, June 30, 2008.
Joseph R. Casa

Joseph Renaldo Casa, who made the transition from the world of title insurance and electronic record-keeping to fulfill a lifelong goal of starting his own publishing company, died Saturday in the comfort of his Ohio home, surrounded by family. He was 55.  more...

Wells Fargo, Ticor in hot water over short sales

By Inman News, Monday, June 30, 2008.

Wells Fargo, Tico settle allegations of false FHA claims
Federal prosecutors in Arizona said they reached a $4.3 million civil settlement with Wells Fargo Bank and Tico Title Agency of Arizona this month that settles allegations that Wells Fargo submitted false claims to the Federal Housing Administration's pre-foreclosure sales program.  more...

Ex-agent doesn't miss shoveling dog doo

By Inman News, Monday, June 30, 2008.
Tom Geller

Tom Geller is a freelance writer in San Francisco and author of "Save My Home: 10 Steps for Avoiding Foreclosure."

Geller worked as a real estate agent before becoming a full-time freelancer and discusses the similarities in the two professions.

Geller will speak during the Foreclosure Workshop at Real Estate Connect in San Francisco, July 23-25, 2008.

He answered a set of questions posed by Inman News:  more...

1930s-style collapse haunts economy

By Lou Barnes, Monday, June 30, 2008.

Mortgages are sticky near 6.5 percent, Treasurys getting most of the flight-to-quality benefit from the stock market dive.

Economic data this week were slim and predictable: Consumer confidence fell again, and rebate checks plumped May spending and income, but gave no durable, corner-turning boost. The "personal consumption expenditure deflator" in the spending/income report confirmed the remarkable (and painful) "core" inflation performance, only a 0.1 percent gain: Prices for everything except food and energy are on or over the edge of deflation.  more...

Finding the 'Nifty 50'

By Alison Rogers, Monday, June 30, 2008.

I have been so busy these past couple of weeks tying up a couple of rentals that I worried I'd been neglecting my sale. However, I know my seller is getting antsy as July -- and vacations with their consequent disappearance of buyers to the beach -- looms. So I decided to set up an open house for this weekend, and to make it a big one.

Now I have to digress for a minute and tell you that the deal du jour in my area -- downtown -- actually happened as the result of a mistake. An agent accidentally typed the wrong price on a listing and the result of the underpricing was a fierce bidding war and a terrific final price. Crazy, huh? Well, that's what this market is like.  more...

Is buying a home to live in a good investment?

By Dian Hymer, Monday, June 30, 2008.

Anecdotal evidence suggests that in some markets investors are buying foreclosure properties at bargain prices. These properties are located in areas that appear to have good growth potential, and they generate enough rental income to at least offset the holding and maintenance costs. The deal needs to make sense financially regardless of whether there is a big run up in appreciation. The plan is to hold the property for the long term.  more...

Interest-only loans often sold on false promises

By Jack Guttentag, Monday, June 30, 2008.

One of the fairy tales borrowers frequently hear is that a loan carrying an interest-only (IO) option is priced better than the same loan without the option. It is a fairy tale because the IO allows the borrower to avoid paying down the loan balance, which makes it riskier to the investor, and greater risk should mean a higher price.  more...

Condo foreclosed but HOA fees keep coming

By Benny Kass, Monday, June 30, 2008.

DEAR BENNY: Recently my condominium unit was foreclosed upon, but the association has now sued me for unpaid condominium assessments. Am I still responsible for this debt? --William

DEAR WILLIAM: Unfortunately you are, but only until the foreclosure sale took place.

Once a new owner took title to your unit -- whether it was a successful bidder at the foreclosure auction or the bank itself -- that new owner is obligated to start paying the association dues.  more...