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NAR: Slowdown in vacation-home sales Premium Content

By Glenn Roberts Jr., Monday, March 30, 2009.

The share of second-home purchases among all home sales fell to 30 percent, according to the latest annual National Association of Realtors survey, down from 33 percent in the 2007 survey and 40 percent in 2005.

Sales of primary residences dropped 13.2 percent from 2007 to 2008, while sales of vacation homes fell 30.8 percent and sales of investment homes fell 17.2 percent during the same period, NAR reported.  more...

Beating the recession Premium Content

By Bernice Ross, Monday, March 30, 2009.

Is your real estate business suffering from too many expenses and a lack of closed sales? If so, today's column gives you four ways to put your business back on track no matter what the market does.

1. Invest in training and education
The number one mistake that both agents and companies make in a slowing market is to cut back on their training and education budgets. When money is tight, it's easy to justify diverting funds to other areas. The agents and companies who are currently investing in training are picking up market share now and will be well positioned to dominate players as the market improves.  more...

Cancel impound account? There's a fee

By Benny Kass, Monday, March 30, 2009.

DEAR BENNY: Can you explain how a bank can legally charge a quarter of a point of the loan to opt out of an impound account? We have always paid our property taxes twice a year and always on time and have excellent credit. It feels like extortion to me. --Jerry

DEAR JERRY: It may not be legal extortion, but it's close. For years, lenders argued that it was necessary to collect escrows for taxes and insurance (also called "impound accounts") in order to make sure that the real estate taxes and insurance policies would be paid and kept current.  more...

Homeowners find it pays to go green

By Dian Hymer, Monday, March 30, 2009.

The green revolution is spreading as the public becomes aware of the need to reduce dependence on foreign oil and improve the environment through conservation and recycling.

Today's recession-wary homeowners are reluctant to spend a penny on home improvements. However, some effective energy-saving home improvements don't cost much and can save you money in the long run.

For example, a tight house prevents heat loss. To keep your home from leaking, weatherstrip by sealing voids around windows, doors, vents, cables, electrical outlets, and switches and electrical wires.  more...

Clareity announces new MLS security tools

By Inman News, Monday, March 30, 2009.

Real estate tech company Clareity Security, through its partnership with tech company AdmitOne Security, has announced the release of two new security products: Scout for SAFEMLS and Sentry for SAFEMLS.

The tools are intended to help multiple listing services prevent unauthorized access of MLS information.  more...

Rental site rebrands as 'Beast'

By Inman News, Monday, March 30, 2009.

A Massachusetts-based rental search site, formerly known as Grand Central Apartments, has rebranded as Rental Beast.

It is common for renters in the Boston area to pay a broker fee to secure a lease, and this cost is often the equivalent of a full month's rental fee, in addition to the first month's rent and last month's rent and a security fee, Rental Beast's Web site states.  more...

The facts on FHA-insured loans

By Jack Guttentag, Monday, March 30, 2009.

The Ups and Downs of FHA: The importance of Federal Housing Administration-insured loans in the home mortgage market has changed markedly over the years. This has been due less to changes in the FHA itself than to changes in the broader market in which it operates.

In the early 1990s, FHA had about 15 percent of the home purchase market. In subsequent years through 2006, FHA lost business to the growing subprime market, which took many borrowers who could have gone FHA. In addition, FHA lost business to the prime conventional market, which developed and aggressively merchandised option adjustable-rate mortgages (ARMs) ...
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The road ahead

By Inman News, Monday, March 30, 2009.

Photo by MARGIE O'CAMP DE CASTILLO

 

"The road ahead."

"The unknown destination of the tough road ahead is not as worrisome if we look up and appreciate what is real. Focus on the things we have but have taken for granted, and enjoy the odyssey," writes Margie O'Campo de Castillo of Arizona Dream Realty in Phoenix. She captured this image in Sedona, Ariz.  more...