Home

Aug

24
2009

10 tips for better online marketing

By Inman News, Monday, August 24, 2009.

Inman Community Manager Daniel Rothamel will share "10 Ways to Market, Connect, and Convert to Sales" during the latest Inman News webinar, scheduled at 10 a.m. PST (1 p.m. EST) on Thursday, Aug. 27.

The online marketing webinar is free for Inman News Premium Members, and is part of a series of "Future Agent Tool Box 2.0" webinars.

Click here to register.  more...

Investors defaulting to make money

By The Real Deal, Monday, August 24, 2009.

For most homeowners, foreclosure is like a fatal illness that starts with losing control of their finances and ends with a sickening feeling when the bank finally seizes the property. Post-foreclosure, a homeowner's credit rating gets trashed and he can be in financial purgatory for years, making it nearly impossible to buy or rent property.

But while foreclosure typically spells disaster for homeowners, for some New York City investors it may actually be a good business decision.  more...

Agents battle sellers over listing price

By Inman News, Monday, August 24, 2009.

A growing number of brokeres and agents say their clients think their homes are worth more than the recommended listing price, and that their clients usually get their way in setting the asking price, according to a survey by home valuation and listings site HomeGain.

HomeGain's survey of 1,084 brokers and agents, conducted Aug. 11-17, also showed Realtors are slightly more pessimistic than they were three months ago that home prices will bottom soon.  more...

Business thrives on 'Whuffie' factor

By Bernice Ross, Monday, August 24, 2009.

What does it take to succeed in the social networking space? Lots of people have theories, but have you heard of "Whuffie?"

As I was browsing through my Twitter feed, I noticed that there was a live feed from DaknoTV (@rewebcoach) for the Real Estate BarCamp in Virginia Beach. If you're not familiar with the BarCamp concept, it's a face-to-face meeting for those who have formed social and business relationships online. The first BarCamps were composed of bloggers who wanted to connect in person with other people who shared their love of blogging.  more...

Playing by REO rules a tough sell

By Tara-Nicholle Nelson, Monday, August 24, 2009.

I got a call from a would-be investor the other day. She had an address and insisted she needed to buy this property, which was bank-owned. The rub? It wasn't listed on the Multiple Listing Service (MLS), but it had been previously. I took the address, looked up the title information, and made calls to all my inside contacts with that asset manager and bank -- all of whom very politely asked me to tell this gal to take a flying leap.

This lady was nothing if not tenacious. She'd attended several get-rich real estate seminars, watched a bunch of infomercials touting buying bank-owned homes as the next great real estate investing scheme, and she would not take "no" for an answer.  more...

Foreclosure notice threatens short sale

By Benny Kass, Monday, August 24, 2009.

DEAR BENNY: A couple of months ago, we put our house on the market with a real estate agent as a short sale. We have received several offers and are just waiting on the bank's approval. Two weeks ago we received foreclosure papers from the lender's attorney. We vacated the home two months ago knowing we could not afford to keep it. We have kept the home and lawn up meticulously. Now that we have received foreclosure papers, what are our responsibilities as far as the home, lawn, utilities being left on, etc.? Your help would be greatly appreciated. --Kimberly

DEAR KIMBERLY: Why banks want to foreclose and risk ending up owning the property (because no one may buy at the foreclosure sale) is beyond me. You and your real estate agent should advise the bank's attorney that a short sale is pending, and that it makes no sense to pursue the foreclosure.  more...

Housing affordability near record high

By Inman News, Monday, August 24, 2009.

Housing affordability remained near an 18-year high during the second quarter, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released this month.  more...

Be picky when picking real estate agent

By Dian Hymer, Monday, August 24, 2009.

Assembling the right team of professionals to assist you during a home purchase or sale is imperative, particularly in today's challenging home-sale market. Selecting the right real estate agent can be critical to your ultimate success.

As in any business, there are good agents and ones that aren't so good. Don't confuse years in the business or number of homes sold with quality service. Some top-performing agents provide their clients with excellent service. Agents who do a lot of business have a wealth of experience to draw from that can be helpful when problems arise.  more...

Fed flunks consumer protection

By Jack Guttentag, Monday, August 24, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/phobia/2308371224/" target=blank>hans.gerwitz</a>.

The Federal Reserve Board has finally released its proposals for reforming the Truth in Lending Act (TILA). It comes right in the middle of a debate over whether a single consumer protection agency should be created to take over all consumer protection functions, including the administration of TILA.

Since the Fed has already indicated its strong opposition to the single-agency idea, it is tempting to view the TILA proposals as an attempt to protect its turf by polishing its consumer protection credentials. But that would be wrong, because the single-agency idea surfaced only this year, whereas the board's TILA proposals have been in the works since 2004.  more...