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Feb

9
2009

Winner of the Roadmap to Recovery Essay contest

By Joel Burslem, Monday, February 9, 2009.

Congratulations to Alisha Alway Braatz, a real estate professional in Bend, Oregon, who submitted the winning Roadmap to Recovery essay "Revolutionary thinking for real estate."

Alisha walks away with the $500 check for her efforts.  more...

Tech tools for real estate survival Premium Content

By Bernice Ross, Monday, February 9, 2009.

Last week's column looked at two major real estate trends for 2009: going global and using video for both personal and business communication. Here are eight additional tips from Real Estate Connect to build your business in 2009.

1. Use Facebook and LinkedIn to reduce spam and build your referral network
Using social media is one of the best ways to eliminate spam. Only people you approve can send you messages. Furthermore, when you meet a potential buyer or seller, invite them to join ...
 more...

Foreclosure, virtual tour sites join Hitwise top-20

By Inman News, Monday, February 9, 2009.

ForeclosureStore.com, a foreclosure-related real estate search site, and virtual tour company VisualTour.com joined a monthly top-20 list of popular real estate sites in January, Web metrics company Hitwise reported today. ForeclosureStore.com had ranked 27th in December 2008, and VisualTour.com ranked 22nd that month.  more...

Mobile listings hit Motown

By Inman News, Monday, February 9, 2009.

Consumers looking for real estate in the Detroit metro area can now access for-sale listings on their cell phones.

In a partnership between brokerage Real Estate One and technology provider Smarter Agent, consumers can download the mobile application, Homes For Sale, at realestateone.com to view physical property details, photos, tax information and maps of almost every listing in the Detroit area.  more...

Pros, cons of a no-cost refi

By Jack Guttentag, Monday, February 9, 2009.

The current refinance boom has focused attention on no-cost mortgages -- henceforth NCMs -- which have attractive features to refinancing borrowers. NCMs help borrowers avoid being overcharged, and they eliminate most of the uncertainty involved in determining whether a refinance will pay.

On the other hand, the price of NCMs -- as measured by the interest-rate increase borrowers must pay to avoid refinance costs -- is unusually high in the current market. The challenge is to obtain the benefits of NCMs without paying an excessive price for them.  more...

The industry debate over compensation Premium Content

By Glenn Roberts Jr., Monday, February 9, 2009.

A guest column published Friday, which suggested that a hybrid salary model could improve the quality of real estate professionals agents, has stirred up a firestorm of commentary from our readers.

Many readers expressed adamant opposition to ending the commission-based compensation model, and the feverish dialog on the issue is an obvious indicator of intense friction -- and possibly a sign of seismic shift?  more...

Fearing default, reverse mortgage a last resort

By Benny Kass, Monday, February 9, 2009.

DEAR BENNY: My mother has a mortgage for about $26,000. Her home is worth considerably more (how much I'm not sure), but given today's housing market the value has probably declined. I do know that the terms of the loan are such that she's paying only the interest monthly -- she's not paying down the principal.

If she defaults on the loan, can the bank compel her to sell her home? Would they be entitled to the $26,000 plus fees? And if so, any idea what those fees would be?

What options does she have regarding a different loan or repayment schedule?  more...