Archive - Columnist Article | Real Estate and Technology News for Agents, Brokers and Investors

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HouseLogic is the real deal?

By Robert Hahn, Wednesday, November 18, 2009.

Lost in all of the hoopla around the Realtors Property Resource (or RPR) database this past couple of weeks was one of the smartest strategic initiatives that the National Association of Realtors has launched in years: HouseLogic.

And while RPR is and will remain a hot topic for the next few weeks, for the average broker/agent the impact of RPR may not be felt all that deeply. HouseLogic, on the other hand, holds the possibility of being a real game-changer. more...

Unwed homebuyers tie financial knot

By Mary Umberger, Wednesday, November 18, 2009.

Flickr photo by <a href="http://www.flickr.com/photos/williac/626962261/" target=blank>williac</a>.

Jude Galligan and Amber Gugino bought a condo together a year and a half ago, putting them right into the mainstream of American real estate, where signing a real estate contract these days often precedes saying "I do."

What the Austin, Texas, couple did before they got to the closing, however, is unusual -- even though legal experts say it shouldn't be. They put their financial intentions in writing to make sure they were on the same page if life's "what ifs" -- breakup, death, job loss -- were to unfold. more...

Attack of the 'pushy' agent

By Bernice Ross, Tuesday, November 17, 2009.

DEAR BERNICE: I just listed my condominium for sale. An agent who lives in my building knocked on my door and yelled at me for not listing with her, saying she knows the building better than anyone else. She also claimed that my listing agent has so many listings that he will have no time for me now that the contract is signed.

So far, we have had only two showings in the last week. I'm beginning to wonder if the agent in my building is right.

On the other hand, she is so pushy I can't imagine having to go through a transaction with her. She actually tried to push her way into my home even though I was standing in the doorway blocking her. I signed a six-month listing. Should I just wait and see what happens? --Paula W. more...

Top mortgage secrets exposed

By Tara-Nicholle Nelson, Tuesday, November 17, 2009.

Image courtesy of <a href="http://www.ftpress.com/store/product.aspx?isbn=0137020163" target=blank>FT Press</a>.

If you read this column often, you know how I feel about the fear-mongering approach we so often see in today's real estate and mortgage how-tos. It's hard for me to get behind any "advice" that attempts to position real estate consumers and their advisors in an adversarial face-off, or seeks to further foment the division and paranoia already pervading the real estate ether. My sense is that the most paranoid buyers are not necessarily the ones that save the most money and get the best deals. In fact, I've seen paranoia cause people to make poor, panic-based decisions and incorrectly suspect very well-intentioned advisors of steering them wrong, alienating themselves from all the legitimate folks and essentially delivering themselves into the hands of the folks they should really be avoiding.

Whew -- glad I got that out. more...

Home inspector no-nos

By Barry Stone, Tuesday, November 17, 2009.

DEAR BARRY: Our home is listed for sale. We accepted an offer a few weeks ago, but the buyers canceled the deal after the home inspection. The home inspector reported numerous problems with the foundation and structure.

We immediately hired a licensed structural engineer who determined that the foundation and structure are sound and that the home inspection report was inaccurate. So now we have a disclosure problem for future buyers. There are two conflicting reports, and both must be disclosed. What should we do? --Kim more...

Deconstructing real estate marketing

By Gahlord Dewald, Tuesday, November 17, 2009.

There's an app for that.

It seems that every other week some new piece of must-have-or-you'll-be-left-behind technology comes along. There's all the stuff to manage social media and social networking initiatives. There's all the reputation-management stuff. Then there's the search-engine optimization (SEO) stuff. more...

Home warranty springs a leak

By Benny Kass, Tuesday, November 17, 2009.

Flickr photo by <a href="http://www.flickr.com/photos/globalreset/26817322/">globalreset</a>.

DEAR BENNY: Our home was built and completed in October 2007. Twice in the past year during driving rain and high winds, we've experienced leaks. The first time, a leak started on the back porch over the exit door to the porch. The second and most recent time, it was a leak coming through the light fixture in the walk-in closet of one of the upstairs bedrooms.

The builder's one-year warranty has expired. Thinking we were covered under the 2-10 Home Buyer's Warranty (Workmanship/ Systems and Structural Limited Warranty Coverage), I called to find out that the roof is not covered; it's only the roof framing systems under "designated load-bearing elements that are covered under this structural defect warranty." Is this not a framing issue? Do we have no recourse under this warranty? Any advice would be appreciated. --Willie more...

4 tax-credit market predictions

By Tara-Nicholle Nelson, Monday, November 16, 2009.

Flickr photo by <a href="http://www.flickr.com/photos/richardwhitaker/3320110409/">Richard Whitaker</a>.

By the time I write this, just a few days after President Obama signed the extended, expanded homebuyer tax credit into law, it's already old news. I was fielding calls from reporters looking for industry insiders to quote before the ink on that thing was dry. It's already been covered every which way but loose, so I won't purport to "educate" you about the bullet point provisions it contains.

However, I submit to you that whether you were pro or con on the credit's extension, there are some behavioral-economic impacts it will have on the real estate market that have managed to escape the popular media's scrutiny.

The real estate industry party line on this thing was, of course, that the credit should be extended and expanded for its proven ability to stimulate sales. more...

Watch for 'buying signs'

By Bernice Ross, Monday, November 16, 2009.

What's old is new again. Old-fashioned sales skills are not only desirable in today's market -- they're a necessity.

Last week's column examined six basics you need to survive in 2010. Today's column examines five additional sales skills that you need to thrive in any market.

1. Force appraisers to meet you at the property
Ten years ago, it was routine to meet the appraiser at the property. As the listing agent, you made sure the appraiser had all the recent comparable sales plus as much detail as possible about each of the comps. more...

Better off renting or buying?

By Dian Hymer, Monday, November 16, 2009.

The push for an ever-increasing homeownership rate in this country recently led to a huge housing bubble, followed by a tsunami of foreclosures and declining home prices. Lax lender qualification a few years ago fueled a run-up in home prices that couldn't last. It left many homeowners who bought beyond their means with damaged credit and without a home.

Homeownership has been the American dream. But owning a home isn't for everyone. Factors often not taken into consideration by homebuyers is that homeownership requires a lot of time, effort and a financial commitment that goes beyond merely paying your principal, interest, property taxes and insurance. more...

Debunking refinance myths

By Jack Guttentag, Monday, November 16, 2009.

Many mortgage borrowers have interest rates well above those available in today's market, but can't refinance profitably. One common reason is that their property values have declined to the point where a new loan would require mortgage insurance. A second reason is that they are self-employed and cannot meet the tough income-documentation requirements that now prevail. Still a third reason is that the borrower's credit score has either deteriorated or no longer meets the higher scores that are now required.

These borrowers face real problems for which there are no easy remedies. more...

No comfort in new economic data

By Lou Barnes, Friday, November 13, 2009.

Long-term rates are behaving very well, despite all the inflation and dollar grumbling in the background (that talk has been wrong and is still wrong). Low-fee mortgage rates are very close to crossing into the high fours.

In an unexplained oddity, the retail mortgage spread to the 3.45 percent 10-year Treasury note is the tightest since The Crunch began in 2007. Theoretically, as the Fed reduces its purchases of mortgage-backed securities, mortgage rates should begin to float away from the 10-year. more...

Buyer wronged by unlicensed agent?

By Tara-Nicholle Nelson, Friday, November 13, 2009.

Q: I just got a notice from my state's Department of Real Estate that the woman who sold me my home was not licensed at the time. They are asking me to testify in a disciplinary proceeding. How did this happen? Is there any chance I could recover any money from this case?

A: This probably happens more than you would think. How? Well, most often, a licensed broker or agent whose license has been suspended or, less culpably, has lapsed because they haven't paid their licensing fees or kept up with their continuing education requirements is the "unlicensed individual" found performing acts requiring a license. This also happens commonly when an unlicensed assistant to a licensed broker or agent performs activities outside the scope of what is permissible, including (in most states) showing properties or drafting and explaining contractual documents to a buyer or seller. more...

Winterizing your chimney

By Paul Bianchina, Friday, November 13, 2009.

As winter approaches, one of the things to look forward to is the cozy heat and intimate glow that can come only from a wood fire. But burning wood can create some definite safety hazards if you don't keep up with regular fireplace and wood-stove maintenance.

The real culprits are soot and creosote. Creosote is a thick, oily material that results from the distillation of wood smoke, which then solidifies as it cools. Soot is basically particles of partially burnt material, which builds up in masonry chimneys and metal flue pipes alike, as well as in the flue cap. more...

Unlocking future home-price gains

By Steve Bergsman, Friday, November 13, 2009.

Tom Glassano is one creative techie. He also happens to have a touch of the Midas, so it wouldn't hurt to bet alongside him.

In the mid-1990s, the high-tech entrepreneur created one of the earliest Internet banking application businesses, which he eventually sold to PeopleSoft Inc. Glassano may have been unemployed, but his inventive mind was still at work. In 2000, he launched a new company to automate business payments for big organizations including what he says was the largest settlement network for global businesses. In 2007, JPMorgan Chase snapped up that enterprise and Glassano was out of work once again. more...