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Compile 'B' list at Connect

By Alison Rogers, Tuesday, January 6, 2009.

After a hectic and chaotic year where I wished many, many times that the phone wouldn't ring so much, Christmas week has been as quiet as a library.

I don't know if this is a recession signal or not; for all I know, it may have been like this last year, and I didn't know because I was off visiting my mother out of cell phone reach. But this year, my husband and I have been just running and running to weddings and such, and I jumped at the chance to stay in town while things were a little slow.  more...

Catching a falling knife?

By Eric Tyson, Tuesday, January 6, 2009.

Q: A friend of mine advised me not to invest in real estate. He thinks real estate prices will be depressed for many, many years. The stock market scares me and I don't understand it. In the past, I've bought and sold several houses and know how to fix them up. Is investing in real estate a good thing?

A: I mean no disrespect to your friend, but I wouldn't place much value on his opinion unless he's been involved in and has expertise with the real estate market and economy in general. The other problem that I have with his opinion is that he is forecasting what he believes will happen with real estate prices many years into the future.  more...

Think twice before buying REO, short sale

By Dian Hymer, Tuesday, January 6, 2009.

Buyers want bargains. Some even limit their search to REOs and short-sale listings.

REO, or real estate-owned, refers to a property that a mortgage lender acquired through a foreclosure. It's owned by the bank. A short sale refers to a situation where the sellers still own the property but they can't sell for enough to pay off the mortgage(s) and costs of sale.

There are pros and cons to buying distressed sale properties. They often sell below market price. However with REOs, there is usually very little information about the property and no seller disclosures.  more...

Signs you need a better home inspector

By Barry Stone, Tuesday, January 6, 2009.

DEAR BARRY: When we bought our house, our home inspector said that everything was in good condition. Since then, our basement has leaked, some of our circuit breakers became so hot they had to be replaced, and a chimney sweep told us that the fireplace is not usable. All of these issues should have been disclosed to us, and now we are saddled with one expense after the other. Who do we blame for these problems: the home inspector, the Realtor who recommended the inspector, or the previous owner? --Rena  more...

Manhattan sales down, prices up in Q4

By Inman News, Tuesday, January 6, 2009.

The sales volume of Manhattan co-ops and condos fell 9.4 percent year-over-year in the fourth quarter while the median sales price rose 5.9 percent to $850,000, according to a quarterly industry report.

There were 2,282 Manhattan condo and co-op sales in the fourth quarter, compared with 2,518 in fourth-quarter 2007, according to the report, prepared by Miller Samuel Real Estate Appraisers for brokerage company Prudential Douglas Elliman Real Estate.  more...

Some loan mods better than others

By Jack Guttentag, Tuesday, January 6, 2009.

"Do borrowers have any say over the type of loan modification they get? What kind of modification should they look for?"

Mortgage modifications are changes in the terms of a mortgage loan designed to make it more affordable to the borrower. Generally, modifications are available only to borrowers in default or in imminent danger of default. The purpose is to cure or avoid the default, thereby avoiding foreclosure.

In general, borrowers must take the modification they are offered, as they have very little bargaining power.  more...

MyDealBook becomes GreenPearl.com

By Inman News, Tuesday, January 6, 2009.

MyDealBook.com, the social networking site geared at helping real estate professionals land clients and collaborate on deals, has a new name: GreenPearl.com.

Chief Executive Officer Ryan Slack -- formerly with PropertyShark.com -- said the name change was prompted by the New York Times' efforts to protect its trademark of the newspaper's DealBook financial news blog.  more...

Readers: Tech isn't the only answer Premium Content

By Inman News, Tuesday, January 6, 2009.

Blogging and social networking may be all the rage, but don't discount the value of old-fashioned lead generation, word-of-mouth referrals and even print advertising, Inman News readers say.

The latest wrinkles in online marketing are bearing fruit for many who adopt them, but it's also important to maintain a personal touch in dealing with prospects and clients, a survey of more than 700 Inman News readers suggests.  more...