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Fewer agents see foreign buyers Premium Content

By Inman News, Tuesday, September 15, 2009.

The global recession and credit crunch means Realtors are finding opportunities to close deals with foreign buyers scarce, even as competition heats up between a growing segment of agents and brokers who specialize in working with foreign buyers.

Fewer than one in four Realtors (22.5 percent) surveyed by the National Association of Realtors reported having least one international client in the year ending May, 2009. That's down from 32 percent in NAR's first survey gauging activity by international home buyers, conducted in 2007, and 26.2 percent in last year's survey.  more...

Buy now or forever hold your tongue

By Tara-Nicholle Nelson, Tuesday, September 15, 2009.
Image courtesy of <a href="http://www.wiley.com/WileyCDA/WileyTitle/productCd-0470455861.html" target=blank>Wiley</a>.

Former Robert Allen "No Money Down" seminar instructors Chantal Howell Carey and Bill Carey create an Allen-esque energy around building wealth through real estate in their latest investment manual, which is as timely as its title is long: "The All-New Real Estate Foreclosure Short-Selling Underwater Property Auction Positive Cash Flow Book: Your Ultimate Guide to Making Money in a Crashing Market."

After first sketching out the data on how many foreclosures have and will likely take place, creating a sense of urgency for would-be investors to execute the book's real estate investment plan in the next 48 months, the Careys go on to explicate the basics of the foreclosure process and short-sale transactions.  more...

Don't discriminate when selling home

By Bernice Ross, Tuesday, September 15, 2009.
Flickr image by <a href="http://www.flickr.com/photos/wwworks/2988469720" target=blank>woodleywonderworks</a>.

DEAR BERNICE: My husband and I are Orthodox Jews and live just three blocks from our local temple. We are moving back to New York to care for my elderly parents. When I went over the selling points of our house with our broker, I was shocked. She told me that it was illegal to use the phrase "walk to temple." Our home has a very wonderful kosher kitchen. She said we couldn't reference that either.

This seems very unreasonable because these are two of the most important reasons why we bought this home. Is there really such a law? --Susan R.  more...

Diagnosing a leaky water heater

By Barry Stone, Tuesday, September 15, 2009.

DEAR BARRY: We have a 50-gallon water heater in our basement. It's only 7 years old, but it has always leaked from the drain pipe on the pressure relief valve. We've tried everything to stop the leak. We turned down the thermostat, flushed out the tank, and replaced the relief valve twice. But the problem always returns. Why doesn't this leak stop after all we've done to fix it? --Mark

DEAR MARK: Before answering your question, a few words should be said in praise of "temperature pressure relief valves," commonly known as TPR valves. A water heater is not safe without a TPR valve. Its primary purpose is to prevent an explosion when a water heater becomes too hot. TPR valves have been mandatory for all water heating systems since the late 1960s. Before then, an overheated tank could become a bomb, causing massive property damage and possible injury or death to nearby occupants.  more...

What a difference a new owner makes

By Marcie Geffner, Tuesday, September 15, 2009.

"It's so ugly."

That was my comment to my mother as we drove past a house in our neighborhood that she and my father owned for 24 years.

Yes, she agreed. The house was indeed ugly.

In my parents' day, the house conformed to its traditional Ranch-style architectural roots ...  more...

Mobile tech firms partner with brokers

By Inman News, Tuesday, September 15, 2009.

The real estate industry continues to adopt applications and services for mobile phones, with several companies making announcements in the last week.

Dallas-based InstantInfo Corp. says Briggs Freeman Real Estate Brokerage is the first company to sign on to its eFastInfo.com service, which allows consumers to receive property information on their smart phones by entering a code on a listing's yard sign.  more...

Tapping the 'Big 3' in social media Premium Content

By Gahlord Dewald, Tuesday, September 15, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/sheilatostes/664714878/in/set-72157600126298397/" target=blank>SheilaTostes</a>.

Last week, I wrote about reasons to keep your blog going even though you hear the siren call of other social media platforms such as Twitter, Facebook, LinkedIn, etc.

This week, I'll work the other direction: Reasons why you might consider expanding your marketing efforts to social media platforms that are outside of your control.

Real estate broker and blogger Jay Thompson, in a comment on last week's article, noted that blogging is social media.  more...

The disclosure dance

By The Real Deal, Tuesday, September 15, 2009.

NEW YORK -- The days of dropping by a Sunday open house on a whim may be numbered. Sellers, frustrated by lowball offers and by buyers who are "just looking," want to make sure they're dealing with serious apartment-hunters. As a result, more and more potential buyers are being asked to provide detailed financial information -- from their employer and salary to their debt ratio and savings -- before they're even allowed a peep at an apartment for sale.

"The listing brokers are scrutinizing the potential buyer before they even get to the building," said Michael Signet, executive director of sales at Bond New York. "It's a preventative measure [to keep sellers] from wasting their time with people who are just shopping around."  more...

Home-price cuts fewer, smaller

By Inman News, Tuesday, September 15, 2009.

The percentage of listings with price reductions declined slightly from July to August, and when sellers did slash their asking price they made smaller reductions, according to an analysis of 27 markets by real estate brokerage ZipRealty.

While nearly half of homes on the market in August -- 44.2 percent -- had seen at least one price reduction, that's down from 45.7 percent in July. The raw number of homes with price reductions, 281,765, was down 4.3 percent, as inventory in markets tracked by ZipRealty fell 10.5 percent to 637,313.

   more...

 
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