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Analysis: Commissions down $12B in 2008

By Matt Carter, Tuesday, March 10, 2009.

Full service real estate agents and brokers collected an estimated $46.4 billion in commissions in 2008, down 8.6 percent from the year before and 34.6 percent from a peak of $71 billion at the height of the housing boom, according to an analysis by ForSaleByOwner.com.

The analysis relied in part on sales and home price data from the National Association of Realtors, which questioned the company's findings and claims that the numbers show declining home values have made real estate commissions "a luxury" that sellers cannot afford.  more...

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Inman News Real Estate Photo Contest -- $200 prize

By Glenn Roberts Jr., Tuesday, March 10, 2009.
Send us your best single photo that captures the state of the residential real estate market for a chance to win a $200 gift card from Amazon.com. Your photo submission should be in digital form and must be sent via e-mail or available for viewing on the Web. The photo can be color or black and white.

The photo should tell a story about the housing market and it should not be a marketing or promotional photo for a particular company, business model or individual.

The contest deadline is March 31, 2009.  more...

A picture is worth 1,000 words (and $200)

By Inman News, Tuesday, March 10, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/naixn/2447827016/">Naixn</a>.

Send us your best single photo that captures the state of the residential real estate market, for a chance to win a $200 gift card from Amazon.com. Your photo submission should be in digital form and must be sent via e-mail or available for viewing on the Web. The photo can be color, or black and white.

The photo should tell a story about the housing market and it should no be a marketing or promotional photo for a particular company, business model or individual.

The contest deadline is March 31, 2008.

Details:  more...

Borrowers can file for help online

By Inman News, Tuesday, March 10, 2009.

Anticipating a flood of requests from troubled borrowers hoping to participate in the Obama adminstration's plan to modify or refinance up to 9 million loans, the HOPE NOW coalition of mortgage servicers is taking applications for assistance online at HopeNow.com.

Troubled borrowers can now apply for help from their mortgage servicer by submitting details about their financial situation at HopeNow.com, the Web site operated by the alliance of mortgage servicers and non-profit counselors.  more...

Be sure to inspect building permits

By Barry Stone, Tuesday, March 10, 2009.

DEAR BARRY: We bought our home about four months ago and now have a big, undisclosed problem. The house is very old and was completely renovated -- not by the person who sold us the property, but two owners previous to them. Our Realtor advised us to check for permits at the city hall, which we did. The city showed us copies of permits for the electrical, plumbing and mechanical work. But we did not notice the absence of signatures on the permit records. We didn't know that people could apply for permits and never call for inspections.  more...

Double-teaming a listing

By Alison Rogers, Tuesday, March 10, 2009.
Flickr photo by <a href="http://flickr.com/photos/35460364@N08/3316837711/">joel.parham</a>.

I hit a new high-water mark this week: I took my fourth listing.

That is, my fourth simultaneous listing. Two of them are rentals, but in this market that's pretty darned exciting.

I also knew that I couldn't handle everything. I do publishing work about half-time and I love it. The steady income helps smooth the highs and lows of real estate. As important as the money, the steady work itself keeps me focused on a world of deadlines and short-term results, which makes me a better real estate agent.  more...

DoorFly.com: Agents bid for rebates Premium Content

By Inman News, Tuesday, March 10, 2009.

Many people who buy or sell a home end up choosing a real estate agent based on references from friends or jotting down names found on for-sale signs in their neighborhood, which can be a haphazard and unscientific way of bringing an adviser into one of the most important investment decisions of your life.

A couple of entrepreneurs in Indianapolis decided there was a better way and in May 2008 unleashed to Indiana residents DoorFly.com, a Web site that connects homebuyers with real estate agents and allows those agents to bid for services by rebating commissions.  more...

When did you buy your house?

By Marcie Geffner, Tuesday, March 10, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/wili/206909928/" target=blank>wili_hybrid</a>.

"When did you buy your house?"

That was the question my friend Marilyn Stotts asked me during a recent gathering at a local restaurant. Not, "Where is your house?" "Do you like your house?" "How big is your house?" Or even the open-ended conversation starter, "Why did you buy your house?" But instead, "When did you buy your house?"

People have always asked where you live or where your house is because they want to pinpoint where you are in the world.  more...

ColdwellBanker.com rejoins top-20 list

By Inman News, Tuesday, March 10, 2009.

Coldwell Banker Real Estate's ColdwellBanker.com Web site rejoined a top-20 list of most-visited real estate sites in February, with ForeclosureStore.com moving up five places on the list and apartment listings site Apartments.com dropping five places compared to January.

Foreclosure.com moved up three places in the monthly rankings, produced by Web metrics company Hitwise.  more...

Surveys show doubts about stimulus

By Inman News, Tuesday, March 10, 2009.

Recent surveys of Realtors and consumers by two real estate Web portals reveal some skepticism about the government's effort to turn the economy and housing markets around -- and suggest consumers put less faith in incentives for homebuyers than the industry.

A twice-a-year online survey commissioned by Trulia Inc. found that only 5 percent saw economic incentives for homebuyers as the single most important step the Obama administration could take to restore "the American Dream of homeownership."  more...