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New tech columns: More than 'Notorious'

By Inman News, Wednesday, June 10, 2009.

Gahlord Dewald, Joseph Ferrara and Robert Hahn.

They know real estate and they know technology, and you'll get to know them through their new columns, which will appear regularly at Inman News.

We hope you enjoy their commentary, wit and insights as they guide you through the ins and outs of technology innovations, trends, problems and pressing issues within the real estate industry.

Introducing the "Tech Trio":  more...

Lender violation benefits borrowers

By Tara-Nicholle Nelson, Wednesday, June 10, 2009.

In the case Rand Corp. v. Yer Song Moua, the homeowners (Yer Song Moua and Manisy Moua) obtained an adjustable refinance home loan from Rand Corp. in order to redeem their property from foreclosure. At the closing table, the Mouas were required to sign a) a notice of the statutory three-day rescission period, which was set to begin the same date of the signing, b) a document stating that the three-day rescission period had already elapsed and was waived by the homeowners, and c) a statement the homeowners were required to reproduce in their own handwriting to the effect that they were waiving the three-day rescission period in order to meet the deadlines of the foreclosure redemption period.

Several months after the refinance loan closed escrow, the homeowners stopped making payments on the loan and, a year after closing, attempted to rescind it.  more...

Two new sites in Hitwise Top 20

By Inman News, Wednesday, June 10, 2009.

MSN Real Estate and Redfin managed to break into the list of Top 20 real estate Web sites maintained by Hitwise in May, but no new sites have cracked the Hitwise Top 10 so far this year.

Hitwise said the Top 10 real estate Web sites grabbed 29 percent of all traffic in the category, and that the top 20 got 40 percent of traffic. The average visit to sites in the category was about 12 minutes.  more...

Vets rescued by VA refi

By Tom Kelly, Wednesday, June 10, 2009.

One of the best -- and easiest -- streamline refinance programs is available to consumers who now have a loan guaranteed by the U.S. Department of Veterans Affairs.

The VA streamline, known as the Interest Rate Reduction Loan, has no "season" requirement, meaning that borrowers who refinanced recently still are eligible. In addition, the loans entail very little documentation and usually do not require an appraisal.  more...

Rebranding real estate

By Kris Berg, Wednesday, June 10, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/eddiedangerous/1800573742/" target=blank>eddiedangerous</a>.

This week, I was showing homes to a past client -- a repeat offender. I helped her first with a purchase and then with the sale of that home when she relocated out of state. Now she is on her way back to the scene of the crime to do it all over again. You might say that we have a history, and we are now friends.

As we caught up and swapped stories on our respective lives, I asked her how the sale of her home in the Midwest was going. She had interviewed several agents, she told me, and just about the time she was ready to bludgeon herself with her stack of complimentary comparative market analyses, she met her dynamo.  more...

Rotted rafters: repair or replace?

By Bill and Kevin Burnett, Wednesday, June 10, 2009.

Q: I have a house built in the late 1970s that has large beams exposed beyond the roofline. After more than 30 years of neglect and exposure there is a good deal of dry rot in them. I think I should have them repaired or replaced.

Is it something I can do, which, considering my lack of construction skills, I seriously doubt, or should I hire a contractor to do the work? Will it be really expensive? Once it is done, how do I keep it from happening again?

A: The bad news is you're right. The exposed beams should be repaired or replaced. The good news is that there's no hurry.  more...

The social media epiphany

By Marc Davison, Wednesday, June 10, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/yourdon/3455477649/" target=blank>Ed Yourdon</a>.

Since I don't live in the San Francisco Bay Area, where I hear that posting Yelp.com reviews in eateries is now prevalent, I snapped a photo of a Yelp reviews sign in the window prior to entering Damon and Pythias in Calabasas, Calif., on my way home from a week's worth of meetings with brokers throughout the state.

It got me thinking.  more...

What social media is, ain't

By Robert Hahn, Wednesday, June 10, 2009.

These days, it seems you can't go to a gathering of more than two Realtors in the same room without "social media" coming up in conversation somehow. The real estate industry has embraced social media the way Wall Street has embraced bailout money from the feds: often badly, and without understanding consequences.

In fact, there is precious little consensus on what the term "social media" even means. To some, it means a bunch of new places to tell people about their listings or how great they are; to others it means a gigantic 24/7 "chat-fest," like teens circa-1996 discovering AOL chat rooms for the first time.  more...

Group certifies 'fair and safe' lenders

By Inman News, Wednesday, June 10, 2009.

A group of mortgage lenders, nonprofit foundations and advocacy groups will certify mortgage lenders as "fair and safe" in their dealings with consumers when they agree to follow the group's standards, which limit or prohibit many types of loans popular during the housing boom.  more...