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Can online home-pricing tools get it right?

By Bernice Ross, Tuesday, July 14, 2009.

Overpricing your listing can cause your property to sit on the market for months. How can you tell what the correct listing price is for your property?

Last week's column looked at four of the most common mistakes that can cause sellers to overprice their property. Today's column provides a case study that illustrates the steps you and/or your listing agent must take to properly set the correct price for your property.

If you're like most sellers, you want to obtain the highest possible amount from your real estate sale.  more...

A plan for a mortgage-crisis-free future

By Tara-Nicholle Nelson, Tuesday, July 14, 2009.
Image courtesy <a href="http://www.wiley.com/WileyCDA/WileyTitle/productCd-0470402199,descCd-tableOfContents.html" target=blank>Wiley</a>.

Reading "Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud and Ignorance," by former subprime mortgage lending company co-owner Richard Bitner, was reminiscent of reading Antonia Frasier's "Marie Antoinette" -- the historical facts and anecdotes woven together create an excruciating sense of dread and suspense, despite the fact that every reader knows from the outset exactly how the story ends. "Confessions," the trade-published edition of a formerly self-published book, is a historical retelling of the rise and fall of the subprime lending industry, which just so happened to take America's homeowners and economy along with it for the ride -- in both directions.  more...

Freddie Mac: Sales bottomed in Q1

By Inman News, Tuesday, July 14, 2009.

Freddie Mac analysts think home sales bottomed in the first three months of 2009 at an annual rate of 4.46 million per year, and will post steady gains each quarter to reach a pace of 5.85 million sales per year by the fourth quarter of 2010.  more...

Flipper sets bait for money trap

By Barry Stone, Tuesday, July 14, 2009.

DEAR BARRY: I'm concerned about a scam artist who buys and sells "fixer-uppers" in my neighborhood. Recently, he bought a run-down house, not realizing how much work it needed. The roof is shot; the plumbing is in terrible condition; and the interior is full of mold from roof leaks and plumbing leaks. A contractor was hired for a fast fix-up and quick resale. One of his workers told me that the repairs being done are merely cosmetic. All of the real issues are being covered up so the place can be sold. A money trap is being set for some unlucky buyers, and once they discover the true condition of the property, they'll be stuck with it.

I want to do something about this, but I don't want legal problems with the owner. I could mind my own business and hope that a home inspector unveils the mess. But who knows whether the buyers will get a good inspection or any inspection at all. What should I do? --Suzan  more...

Is homeownership 'over'?

By Marcie Geffner, Tuesday, July 14, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/anemoneprojectors/3664791951/" target=blank>anemoneprojectors</a>.

Throughout most of the three decades from 1969 to 1999, approximately 63 percent to 66 percent of U.S. households were homeowners, according to the U.S. Census Bureau. At the end of that period, the homeownership rate broke its historical bounds and climbed to 67 percent. In the next 10 years, the rate rose to 68 percent and then 69 percent.

Much of this rise in homeownership was driven by government policies. Homeowners have been rewarded with sizable income-tax deductions for mortgage interest and property tax, and the tax code also all but eliminated capital gains tax on the sale of a principal residence.  more...

Technologist recalls the 'basement' days Premium Content

By Inman News, Tuesday, July 14, 2009.
Chris Freeman

Chris Freeman, chief technology officer for real estate tech company WolfNet Technologies, has worked with the company for more than a decade and saw it grow "from two guys in a basement with three clients" to a company that now serves about 40,000 clients.

He oversees programming, database and systems administration. He enjoys two kinds of golfing -- the flying disk and original small-ball version -- and also enjoys hiking, camping, skiing, rock-climbing and traveling.  more...

Getting more bang from bounce rate Premium Content

By Gahlord Dewald, Tuesday, July 14, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/kortoni/2402250758/in/photostream/">kor.toni</a>.

Bounce rate -- the percentage of people who arrive on your site and then leave without looking at anything else -- is a great example of a vanity metric: something people talk about a lot but don't really act on.

If you find yourself wondering, "Is my bounce rate any good?" then you're asking the Web analytics equivalent to asking, "Does my ass look big in these jeans?" But it doesn't have to be that way. As my friend Jane Taylor says, it isn't good or bad -- it's just data.

By looking a little closer at your bounce rate, you can make some decisions to improve your online marketing.  more...

Freddie Mac issues appraisal bulletin  Premium Content

By Matt Carter, Tuesday, July 14, 2009.

Appraisers "must be familiar with the local market" in which properties they are valuing are located, choose "appropriate comparable sales," and certify them as the homes "most similar" to the property being appraised, Freddie Mac said in a bulletin to lenders.

The mortgage giant said new rules for appraisals don't require that appraisers select distressed properties -- including short sales, foreclosures or real estate-owned properties -- when identifying "comparable properties" for valuations.  more...

Trulia gaining market share Premium Content

By Inman News, Tuesday, July 14, 2009.

Trulia.com continued its steady climb of Hitwise's list of Top 10 real estate Web sites to reach fifth place in June, with Homes.com also managing to break onto the list by displacing ServiceMagic.com from the 10th position.  more...