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S.F. Bay Area's weak spot: home prices

By Inman News, Thursday, September 18, 2008.

Although August home sales in the San Francisco Bay Area were only slightly lower than a year ago, the region's median home price plunged to lows not seen since January 2004, real estate information service DataQuick reported Thursday.

The nine-county region saw a total of 7,232 new and resale houses and condos sold last month, down 4.7 percent from 7,586 in July but just 0.9 percent lower than the 7,299 sales a year ago. An "average" August sees just over 10,000 sales.  more...

Miter saw great for DIY projects

By Paul Bianchina, Thursday, September 18, 2008.

If you're framing a new deck one weekend and then installing some intricate stain-grade crown molding the next, you might be wishing for one saw that could handle both those tasks -- and everything in-between. If so, then you don't need to look any further than one of the big and versatile 12-inch compound or sliding compound miter saws that are now on the market. Tough and powerful yet remarkably accurate, these saws can power through wet framing lumber or handle delicate cuts on fine trim.  more...

Just say 'no' to commission-cutting Premium Content

By Bernice Ross, Thursday, September 18, 2008.

Consumer Reports just released a study saying that 67 percent of all agents were willing to lower their commissions simply because the seller asked. If you haven't mastered the art of earning your full fee, there's no better time than now.

I recently had a conversation with Doug Rebert and Rick Doyle of Prudential Homesale in Lancaster, Pa. Agents in one of their offices wanted to slash commissions because they felt it was the only way they could survive the commission war in their market area.  more...

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Worth a Read

By Inman News, Thursday, September 18, 2008.

Check out the new Brookings Paper by Karl Case: "The Central Role of House Prices in the Financial Crisis: How Will the Market Clear?" (PDF download link)

We loved this quote about how Californians can take a market beating because good times always seem to be around the corner.  more...

We Should Have Listened...

By Joel Burslem, Thursday, September 18, 2008.
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Housing, economy take center stage in election Premium Content

By Matt Carter, Thursday, September 18, 2008.

White House Press Secretary Dana Perino, asked by a reporter Wednesday if the Bush administration's "deregulatory approach" helped create the housing and financial market meltdown, deflected blame to Congress.

Perino said Congressional lawmakers have thwarted HUD's attempts to overhaul the Real Estate Settlement Procedures Act (RESPA), and only passed legislation to modernize FHA and strengthen oversight of Fannie Mae and Freddie Mac after years of haggling.  more...

Fed infusion reins in short-term rates

By Inman News, Thursday, September 18, 2008. In an attempt to encourage overnight loans between banks, the Federal Reserve today authorized a $180 billion expansion of swap lines with the European Central Bank and other overseas central banks.

In a separate move, the Federal Reserve Bank of New York reportedly made $105 billion in repurchase agreements available to keep the effective federal funds market trading close to the Fed's 2 percent target rate..  more...

Roost enters Michigan

By Inman News, Thursday, September 18, 2008.

Roost, a real estate search engine, on Wednesday announced the launch of its service in Southeastern Michigan, extending its coverage to the Detroit metro area (Oakland, Macomb and Wayne counties), as well as Ann Arbor and rural areas spanning from Washtenaw County to the Thumb.

Roost's search engine covers single-family, new construction and for-sale-by-owner properties.  more...

Falling mortgage rates spur refis

By Inman News, Thursday, September 18, 2008.

Mortgage applications surged last week as borrowers moved refinance their loans to take advantage of lower interest rates, which continued to fall this week as turmoil in financial markets prompted investors to seek safer investments.  more...

From football to house flipping Premium Content

By Lai Saetern, Thursday, September 18, 2008.
Than Merrill

When his pro football career came to a halt, Than Merrill found a new passion and proficiency for fixing and flipping houses that paved the way for a stint on a real estate reality show.

Merrill and his team of real estate flippers auditioned for "Flip This House" in 2006 -- the show made its debut in 2005 -- and have since participated in several seasons of filming.

On the air  more...

Keeping Your Business Afloat

By Joel Burslem, Thursday, September 18, 2008.

Here's some great advice from Rand Fishkin at SEOMoz on how best to weather the current financial storm.    more...

Policy causes more problems than it solves

By Inman News, Thursday, September 18, 2008.

Editor's note: The following is a member comment posted on the Sept. 10 Inman News story, "Housing policy at a crossroads":

"Government hurts affordability when it intervenes to make something 'easier' -- just look at university education. The extension of grants and loan programs drove up the cost of education much faster than official inflation. The same can be said of medical care, another industry where the federal government is extremely involved.  more...