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Housing segregation rampant

By Inman News, Tuesday, December 9, 2008.
Flickr photo by <a href="http://flickr.com/photos/wwworks/2988469720/in/set-72157608035966422/" target=blank>woodleywonderworks</a>.

Discrimination in housing and lending continues to produce "extreme levels of residential segregation" 40 years after the passage of the Fair Housing Act, according to a comprehensive report by a bipartisan commission chaired by former housing secretaries Jack Kemp and Henry Cisneros.

The report, which follows on the heels of hearings in five cities from July to October, found "severe and ongoing problems" with the Department of Housing and Urban Development's enforcement of fair-housing laws, and room for improvement in housing programs that may be promoting, rather than preventing, racial segregation.  more...

Pending sales up in West

By Inman News, Tuesday, December 9, 2008.

A National Association of Realtors index that gauges pending sales of resale homes dropped 1 percent in October compared to the same month last year.

Regionally, the Pending Home Sales Index -- which is based on contracts signed for transactions that have not yet closed -- rose 17.4 percent in the West while falling 14.1 percent in the Northeast, 6.8 percent in the Midwest, and 2.9 percent in the South year-over-year in October, NAR reported.  more...

NAR: Resale home prices to fall 9.3% in '08

By Inman News, Tuesday, December 9, 2008.

The National Association of Realtors expects a 9.3 percent drop in the median price of resale homes and a 7.8 percent drop in the price of new homes this year, with sales of resale homes sliding 12.3 percent and sales of new single-family homes falling 37.3 percent.  more...

Save home from plumbing leaks

By Barry Stone, Tuesday, December 9, 2008.

DEAR BARRY: I've heard of a device that automatically turns off your water main if there is a leak in your home. What can you tell me about this device? Is it really worthwhile? --Terry

DEAR TERRY: The product you have heard about is called the "Leak Defense System" manufactured by Sentinel Hydrosolutions. It consists of an automatic control valve that is installed in your water main and connected to an electronic control module in your home. This system electronically monitors water flow through the main line. If there is a slow, continuous flow for an extended period of time, or if there is a sudden, major flow all at once, the system automatically turns off the water supply to your home.  more...

'Tis the season for real estate cheer

By Alison Rogers, Tuesday, December 9, 2008.
Flickr photo by <a href="http://flickr.com/photos/fauxen/337884210/" target=blank>Fauxen</a>.

I have barely just shaken off the flour from Thanksgiving baking, and here it is time for Christmas already.

There ought to be some sort of break in between, especially for Realtors who have to gear up right after that for spring selling season. I know one real estate guy who jokes that spring starts during halftime of the Super Bowl.  more...

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Take me to your auction, earthling

By , Tuesday, December 9, 2008.

Known as the "space ship house," this 2,000-square-foot saucer-shaped residence in Chatanooga, Tenn., is reportedly up for auction on Dec. 14.

We're not sure if it's flight-worthy. (And yes, this photo has been embellished!)  more...

Looking for Travel Deals to Connect NYC '09? We've got 'em!

By , Tuesday, December 9, 2008.

I know it might seem hard to believe, but the cost of travel has come down considerably over the last few weeks.  A pleasant side effect of falling fuel prices and a slow economy is that airlines and hotels are getting aggressive in attracting your business.  Now is one of the best times in a long while to book travel; especially to place like, oh, I don't know--  New York City on January 7-9th.  ;-)  more...

Real estate pushes stimulus wish list

By Inman News, Tuesday, December 9, 2008.

With president-elect Barack Obama calling for Congress to stimulate the economy by passing the biggest public works bill in 50 years -- and the Bush administration signaling likely agreement on a bailout for automakers -- the real estate industry remains determined to get its own slice of the government assistance pie.

The National Association of Home Builders and about 100 other groups representing builders and manufacturers have formed a coalition, Fix Housing First, that's put together a list of demands from Congress including more generous tax breaks for home buyers.  more...

Real estate execs see opportunity in 'Shift'

By Patrick S. Duffy, Tuesday, December 9, 2008.

There's certainly no doubt that we're currently in the midst of one of the most challenging real estate markets in decades, but if the authors of the book "Shift: How Top Real Estate Agents Tackle Tough Times" are to believed, this also marks a time of great opportunity.

Written in a fairly elementary format by Keller-Williams Realty co-founder Gary Keller and colleagues Dave Jenks and Jay Papasan, the book acts as both a primer for newly minted agents as well as a supportive roadmap for veteran agents in need of an attitude tune-up.  more...

Nestoria co-founder shares the rest of the story

By Inman News, Tuesday, December 9, 2008.

Ed Freyfogle is co-founder of Nestoria, a real estate search company that advertises properties in the United Kingdom, Germany, Spain and Italy.

He will speak during a session on Web analytics at the upcoming Real Estate Connect conference in New York City, which runs from Jan. 7-9, 2009, at the New York Marriott Marquis Times Square hotel. Freyfogle will also attend a "Meet the Leaders" networking session during the conference.

Freyfogle responded to a set of questions posed by Inman News:  more...

Yahoo revamps real estate site

By Inman News, Tuesday, December 9, 2008.

Photos accompanying listings on Yahoo! Real Estate are now four times bigger, and listings update automatically as users refine search parameters, the company said in announcing a revamp of the site.  more...

Realogy parent faces tough times

By Inman News, Tuesday, December 9, 2008.


A New York Times article details troubles facing Apollo Group, the private equity firm that bought real estate giant Realogy Corp. in a heavily leveraged multi-billion-dollar buyout deal completed last year.  more...

Roost.com gets $8M, adds foreclosures

By Inman News, Tuesday, December 9, 2008.

Roost.com, a real estate search company built through data-exchange agreements among real estate brokers, today announced that it has secured $8 million as an investment from Shasta Ventures.

That brings the company's investment total to $13.5 million -- the original $5.5 million in contributions was put up by investment groups General Catalyst Partners, The Cross Country Group LLC and Geolo Capital.  more...

Loan mods don't halt defaults

By Inman News, Monday, December 8, 2008.

Nearly six out of ten troubled borrowers who were able to negotiate loan modifications during the first quarter re-defaulted after eight months, Comptroller of the Currency John C. Dugan said today.  more...

The Year of the Bailout?

By Inman News, Monday, December 8, 2008.
Flickr photo by <a href="http://flickr.com/photos/hojusaram/484374008/">hojusaram</a>.

The federal government takes over mortgage giants Fannie Mae and Freddie Mac. Congress approves a spending package worth up to $700 billion in an effort to snap the credit crunch. IndyMac Bank fails. Bank of America absorbs Countrywide, JP Morgan Chase picks up Washington Mutual Bank, and Wells Fargo & Co. grabs Wachovia Corp. Zillow and Redfin announce layoffs. Help-U-Sell and LandAmerica enter bankruptcy proceedings, Canada's Brookfield Residential Property Services buys GMAC Home Services LLC.  more...

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