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Jul

28
2009

Multiple offers: the latest 'M.O.'?

By Glenn Roberts Jr., Tuesday, July 28, 2009.

 

Multiple offers on for-sale properties is the modus operandi in some housing markets these days. Inman News columnist Tara-Nicholle Nelson wrote this week, "in the last couple of days, I've seen another 30-offer listing and a bunch in the seven- to 15-offer range. The level of buyer activity has gone from zero to 1,395 in the blink of an eye.  more...

Living with the code

By Inman News, Tuesday, July 28, 2009.
Flickr image by <a href="http://www.flickr.com/photos/pinksherbet/3041510366/">D Sharon Pruitt</a>.

The Home Valuation Code of Conduct -- a new set of rules governing appraisals conducted on loans slated for purchase by Fannie Mae and Freddie Mac that took effect on May 1 -- has been a contentious issue for real estate professionals.

Some industry groups say the new rules, intended to protect appraisers from coercion by lenders, have derailed sales in part because lenders are shifting work appraisal management companies who may employ appraisers with little experience in the markets they are assigned to work in.  more...

'Inflection point' for home prices seen

By Inman News, Tuesday, July 28, 2009.

Two indexes tracking home prices in major markets continue to show double digit annual price declines, but the pace of those declines slowed for the fourth consecutive month during May, Standard & Poor's said.

A clear inflection point has emerged in the rate of annual price declines measured by the S&P-Case-Shiller 10- and 20-City Composites, Standard & Poor's said.

After 16 consecutive months of record annual declines that began in October, 2007, year-over-year price declines appear to have peaked in January, 2009.  more...

How healthy is your HOA?

By Bernice Ross, Tuesday, July 28, 2009.

Before buying a condominium, one of the most important areas to investigate is the financial health of the Homeowners Association (HOA). It's important to know the financial health of the HOA.

Part 1 of this series looked at two important questions to ask if you are purchasing a condominium: "What type of ownership are you purchasing?" and "What obligations and restrictions do the CC&Rs (covenants, codes and restrictions) place on you?" A third equally important issue deals with your HOA Dues.  more...

The real estate crash made simple

By Tara-Nicholle Nelson, Tuesday, July 28, 2009.

Japanese manga comics seem like a logical inspiration source for sneaker design or body art. On reading "The Skinny on the Housing Crisis: What Every Homeowner and Homebuyer Needs to Know," you'll see that manga also served as impressive inspiration for the 2009 Robert Bruss Book Award-winning title.

The "Skinny on the Housing Crisis" ("Skinny") is the inaugural title in a burgeoning series of comic book-format how-to titles intended "for really busy people."  more...

Fed may ban loan-originator incentives Premium Content

By Matt Carter, Tuesday, July 28, 2009.

The Federal Reserve Board is proposing a ban on incentive payments to mortgage originators that are based on a loan's interest rate or other terms, and revisions to loan disclosures provided to consumers that would include factoring in the cost of settlement services such as title insurance.

The Fed says its proposed changes to Truth in Lending Act (TILA) loan disclosure forms would make them more compatible with another set of disclosures mandated by the U.S. Department of Housing and Urban Development under the Real Estate Settlement Procedures Act (RESPA).  more...

Taking social media beyond square one Premium Content

By Gahlord Dewald, Tuesday, July 28, 2009.
Flickr photo by <a href="flickr_7640397@N06_3463074144_foursquare">theestherproject</a>.

New social media properties seem to be focusing more and more on specific purposes instead of broad overarching suites. More like Twitter and less like Facebook. A new entrant that you're likely to hear about (if you haven't already) is Foursquare, a social media property built around the idea of exploring your city.

In this article I'll describe Foursquare as it is today and give some thoughts on how you might use it in your real estate marketing. Keep in mind that Foursquare, like CoTweet, is in beta and will likely change quite a bit in the coming months. Here's your chance to play with a new tool early.  more...

Real estate fears and the Big One

By Marcie Geffner, Tuesday, July 28, 2009.

A 4.7.

That was how one earthquake that struck Los Angeles this spring ranked on the good old Richter scale. The quake actually felt to me like a much bigger one than it really was because the epicenter in Inglewood was quite close to my house.

Being a second-generation native of this area, I'm not generally afraid of earthquakes. I remember several from my childhood and none of them was particularly scary. In fact, I slept through one of the bigger ones and dreamt that the house had a fever and chills or had been magically transported to a much colder climate or something like that.  more...