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Soundtrack to a buyer's heart

By Tara-Nicholle Nelson, Monday, July 13, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/flattop341/1657626179/" target=blank>flattop341</a>.

Intuitively, it would seem that views -- whether of the mountains, the ocean, the bay or even the neighbor's rusty, leaf-crammed gutters -- are the most influential sensations originating outside of a given home on a prospective buyer's impressions of the property.

I submit that this intuition is dead wrong.

Sound, in my experience, is the single sensory factor that poses the most substantive deal-making or -breaking power within the mind of a homebuyer of those sensory elements that are largely external to the property itself.  more...

Dust off 'old-school' sales techniques Premium Content

By Bernice Ross, Monday, July 13, 2009.

When it comes to marketing your business, are you still relying on the old tried-and-true strategies? Do these old-fashioned approaches still have relevance in today's twittering Facebook world?

I recently spoke at three different seminars for a brokerage in New York on how to use social media. At each event, Henry Weber, the president of the franchise, opened the meeting. Weber told a powerful story that illustrates the tremendous need for agents to have social media expertise and some plain old-fashioned real estate basics as well.  more...

Long & Foster exec will run FHA Premium Content

By Inman News, Monday, July 13, 2009.

David H. StevensLong & Foster Cos. President and Chief Operating Officer David H. Stevens has been confirmed by the Senate as the Obama administration's choice to head the Federal Housing Administration.

The mortgage industry veteran succeeds Brian Montgomery as federal housing commissioner at a time when demand for FHA-backed loans has surged, but record claims threaten to put the program in the red for the first time since 1934 (see story).

In prepared testimony to the Senate Banking Committee in April, Stevens acknowledged that FHA loans originated in 2007 and 2008 with high loan-to-value ratios ...  more...

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Space is filling up at the Palace Hotel for Connect San Francisco '09! Don't be left out!

By Daniel Rothamel, the Real Estate Zebra, Monday, July 13, 2009.

Inman Connect San Francisco 2009 is just around the corner.  Response the stellar program we've got lined up has been tremendous.  So good, in fact, that the Palace Hotel is almost completely sold out already!  The good news, though, is that there is still time for you to register so that you don't miss out on. . .

   more...

Facing neighbor complaints on eve of sale

By Dian Hymer, Monday, July 13, 2009.

When the for-sale sign goes up, it's not uncommon for a neighbor to come forth with a complaint -- perhaps about an issue that has never been mentioned to the seller before.

The complaint is often addressed to the seller's agent, either in the form of a letter or phone call. In one instance, a seller's next-door neighbor contacted the listing agent to find out if she knew there was a lawsuit pending against the listing.

The listing agent knew nothing about this. But she was sure, given California's mandatory seller disclosure requirements, that if there was a lawsuit involving the property, it needed to be disclosed to buyers.  more...

Debt-consolidation refi has advantages

By Benny Kass, Monday, July 13, 2009.

DEAR BENNY: With mortgage loan rates at record lows, I'm thinking of refinancing my 30-year fixed-rate loan. The lender is recommending that I roll into the refi amount the balances I owe on my car and two credit cards. The advantages would be that they'd be "paid off," the interest rate on the amounts would be lower than I'm currently paying on any of them, and the interest paid would be tax-deductible.

But I see a big disadvantage, too. The total of the amounts on those five-year (on which I still have three years to pay) and revolving loans would now be amortized over 30 years! Does it make sense to do that? How can I figure out if it's a smart move or not? --Janet  more...

Psychological barriers to a healthy economy Premium Content

By Patrick S. Duffy, Monday, July 13, 2009.
Image courtesy <a href="http://press.princeton.edu/titles/8967.html" target=blank>Princeton University Press</a>.

Ever wonder why a seemingly slam-dunk deal suddenly gets thrown off the rails even though none of the terms have changed?

Perhaps you should blame "animal spirits" gone awry, a term economist John Maynard Keynes coined in the middle of the Great Depression to describe the type of "naive optimism" that is a necessary ingredient for businesses to invest, for entrepreneurs to take risks -- and for potential homebuyers to sign those documents at the closing table.  more...

Tech trail winds from Wal-Mart to Roost Premium Content

By Inman News, Monday, July 13, 2009.

From vacation rentals to Roost.com, Alex Chang has been a technology trailblazer for the real estate industry.

Prior to launching Roost, a home-search portal forged from partnerships with more than 100 U.S. brokerages across the U.S., in 2008, Chang led technology and operations for Total Move Inc., a service that guides homebuyers through the moving and real estate process; oversaw consumer-service business units for Walmart.com; and in 1997 co-founded an online vacation rental site that later merged with another company and was acquired by Expedia in 2000.  more...

Redfin turns first monthly profit

By Inman News, Monday, July 13, 2009.

Online brokerage Redfin says it turned its first ever monthly profit in June, attributing the milestone to increased market share, improved profit margins, and the seasonal boost in homebuying during the summer.

Neither the press release nor blog post by company founder and CEO Glenn Kelman provided dollar amounts for profit and revenue.  more...

Savvy buyers save on settlement costs

By Jack Guttentag, Monday, July 13, 2009.

"Do you agree with the advice contained in the recent USA Today article, in which you were quoted, on how to save on settlement costs?"

That article made me realize that my views on how borrowers can best prevent overpaying on settlement costs are very different from those of most counselors. The author listened to my views but understandably went with the majority. This article will compare the different approaches.  more...