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HUD may pull restrictions on builders' incentives Premium Content

By Matt Carter, Monday, March 9, 2009.

Federal regulators propose to withdraw a RESPA rule change that would bar home builders from offering consumers incentives that require them to use the builders' affiliated mortgage and title insurance companies.

It's unclear whether the change -- which the National Association of Home Builders has gone to court to block -- will actually be scrapped, and if so, whether regulators will go back to the drawing board and launch a public process to rewrite it. But HUD promises that implementation of any rule won't come before mid-summer.  more...

Seller financing without hiccups

By Benny Kass, Monday, March 9, 2009.

DEAR BENNY: We are in our late 70s and have moved out of our house. We are selling the house to our daughter for approximately $338,000 and we are taking back the mortgage.

We have been told the minimal interest rate we can charge her is 1.61 percent without getting in trouble with the IRS. And, it must be renewed each year. Is this correct? Please advise. --Louise  more...

Top home-buying mistakes

By Dian Hymer, Monday, March 9, 2009.

Low interest rates and home prices have convinced some homebuyers that now is a good time to buy. If you're a first-time buyer or haven't bought in awhile, take heed of mistakes you'll want to avoid.

Buying a home takes time. Invariably, your life will get busy as soon as you get serious about buying. Working with a good real estate agent who knows your area well, stays on top of details, and communicates promptly and clearly definitely helps.

However, never forget that you are the decision maker.  more...

Cashing in on FSBOs Premium Content

By Bernice Ross, Monday, March 9, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/thetruthabout/2669562570/">TheTruthAbout...</a>.

In today's market, expired listings and distressed properties seem to dominate the scene. Nevertheless, there's another source of right-now business that you can't afford to miss: for-sale-by-owners (FSBOs).

I was chatting with Curtis Fenn of RedX about what is working with their customers in today's market. Fenn's company provides lists of both expired and for-sale-by-owner listings scrubbed against the "Do Not Call List."  more...

Most Home bets on mobile MLS service Premium Content

By Matt Carter, Monday, March 9, 2009.

Most Home Corp. has reached an agreement to sell the loan origination software platform and client base of its subsidiary, Netupdate Inc., to Mortgagebot LLC, as part of a plan to raise money and grow its mobile listings service, Kurio.

Mequon, Wis.-based Mortgagebot will pay $600,000, and allow Most Home to keep $107,000 in Netupdate receivables it has billed or collected before closing, the companies said in a press release.  more...

Senior dilemma: lots of equity, little income

By Jack Guttentag, Monday, March 9, 2009.

A common problem among aged homeowners is that they no longer have the income to service their mortgage, and don't have a good way to convert the substantial equity in their house into cash flow. The case below is typical.

"I am a 67-year-old widow with a mortgage of $414,000 on a house valued at $1.25 million. I can no longer afford the mortgage payment and property taxes, but the lender will not discuss modifying my loan contract until I am behind three payments. I don't want to destroy my credit, and have been borrowing from family to stay current. Is there anything else I can do?"  more...

Mobilizing the real estate office Premium Content

By Gilbert Mohtes-Chan, Monday, March 9, 2009.

It's no easy task shuttering 11 real estate offices in a year and a half. But RE/MAX Dolphin Real Estate did it -- and without shedding a single agent.

Instead, its brokers and agents grabbed their laptops, portable printers, BlackBerrys and even GPS devices and hit the road, often rendezvousing with clients in coffee shops, restaurants, homes and workplaces.  more...

Price index falls hardest in Phoenix, S.F.

By Inman News, Monday, March 9, 2009.

The price per square foot of homes fell in all of the 25 U.S. metro areas tracked in December compared to the same month last year, with the most extreme declines in Phoenix and San Francisco.

The metro areas included in the RPX Monthly Housing Market Report index, prepared by real estate data and analytics company Radar Logic Inc., dropped a collective 22 percent in December 2008 compared to December 2007.  more...