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List price isn't the 'real price'

By Tara-Nicholle Nelson, Monday, June 15, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/dno1967/3228875700/" target=blank>dno1967</a>.

When I was a kid, my parents (as all good parents do) did something that embarrassed me on a regular basis. My Dad's particular recipe for mortification was his insistence on negotiating prices -- everywhere and on everything. In fact, I distinctly remember trying to disappear once when he was trying to work the guy in the electronics department at Sears down on the price for our big-screen TV.

Fast forward 20 years and, like all good children, I have become my father's daughter. In my daily shopping life, especially on big-ticket items, I consider the price-tag price akin to the speed limit: a good jumping off point for a discussion of what price I'm really going to pay.  more...

Tech throws agents a lifeline Premium Content

By Bernice Ross, Monday, June 15, 2009.

Last week's column examined strategies for generating more first-time buyer and investor leads based upon tips from the National Association of Realtors' midyear conference. Here are a series of additional suggestions that can help you grow your business regardless of what the market does:

1. The two strategies that helped agents grow their business in 2008
At a Power Broker session, one of the speakers shared the following statistics: 32 percent of agents actually grew their businesses in 2008. How did they do it? They did it through technology and through relationships. While technology connects us with our clients, they need help deciphering the enormous amount of information that is available both online and offline. This is where it is important for agents to become the "trusted adviser" for their client base.  more...

Finding middle ground for home repairs

By Dian Hymer, Monday, June 15, 2009.

Today's home sales are all about negotiation. Negotiating the purchase price is the first step. A second round of negotiations can occur after the buyers complete their inspections. For sellers who negotiated to their rock-bottom price, this can be disappointing and a possible deal-breaker.

Buyers who are willing and able to buy in this market need to feel they are getting a good value. Property condition is a big consideration. Correcting defects adds to the cost. If the buyers still want to buy after completing inspections, and the sellers need or want to sell, an attempt should be made to reach an agreement on inspection-related issues.  more...

The square-footage shocker

By Benny Kass, Monday, June 15, 2009.

DEAR BENNY: In December 2007, I took title to a condominium unit that was listed on the MLS (multiple listing service) as being 1,017 square feet, according to the public records. Recently I was going through a real estate handbook that I own, and it suggested that I have a copy of the appraisal in my files. Since I didn't have one, I requested a copy from my bank. I was shocked to find that the bank found the square footage to be 864 square feet, not 1,017.

Before I took title, my real estate agent met the appraiser at the condo unit and said that I didn't have to be there. The day after the appraisal, I called my real estate agent to ask if everything went OK and she said yes.  more...

Mortgage repayment yields big returns

By Jack Guttentag, Monday, June 15, 2009.

One consequence of the financial crisis has been to make investment in mortgage repayment increasingly attractive. Mortgage repayment is a riskless investment that yields a return equal to the interest rate on the repaid loan. If the loan carries a 6.125 percent rate, the borrower earns that rate on the balance repaid. The yield on other investments of comparable risk, including federal government securities, CDs and money market funds, are way down. My money market funds today are yielding barely more than 1 percent.

Not so obvious but even more compelling, some borrowers in process of refinancing can earn a much higher return on partial loan repayment if the balance reduction allows them to reduce or avoid mortgage insurance coverage.  more...

Real estate pedal pushers wheel and deal

By Riya V. Anandwala, Monday, June 15, 2009.
Photo credit: <a href="http://www.flickr.com/photos/bitchbuzz/3379577248/" target=blank>www.ElectraBike.com</a>.

Catching on to a burgeoning green trend, some real estate agents are traveling to for-sale homes on two wheels, and bringing their green-minded clients with them.

Scores of real estate professionals are now adopting this environmentally friendly approach to house tours. While it can take longer to get to properties, bike-based tours can give clients a better feel for a neighborhood area and the community at large.  more...

Report: Signs of real estate stability

By Inman News, Monday, June 15, 2009.

A report released this week by Radar Logic finds signs of stabilization in home values, though cautions that some markets may see a continuing slide based on a buildup of foreclosure-related inventory and a typical seasonal slowdown in sales activity.  more...