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NYC housing commissioner to run HUD

By Inman News, Monday, December 15, 2008.
Shaun Donovan

President-elect Barack Obama has tapped the head of New York City's Department of Housing Preservation and Development, Shaun Donovan, to be the next secretary of housing.

Obama called Donovan -- who held a key position at HUD under the Clinton administration and also has experience in the private sector -- a reformer who's expanded access to affordable housing in New York City.  more...

The sinking feeling in home values

By Inman News, Monday, December 15, 2008.

Research conducted by Zillow, a company that provides online real estate values and other information, found that U.S. home values will plunge a total of $2 trillion this year.

Home values dropped 8.4 percent year-over-year in the first three quarters of 2008 compared to the same period last year, Zillow reported today, for a total nationwide home-value loss of $1.9 trillion.

One in seven (14.3 percent) of all homeowners were underwater by the end of the third quarter, owing more on their mortgage than their homes are worth.  more...

'A new Web landscape' in real estate Premium Content

By Inman News, Monday, December 15, 2008.

Since the onset of the Internet, for the very first time, we have a unique intersection of significantly different market dynamics, access to real estate data -- both real-time and historical (thank you, U.S. Department of Justice) -- and an Internet-enabled, savvy consumer. More than ever the "Web survivors" will need to focus right now on providing a Web presence that is totally consumer-centric and focused on solutions, not just data.

Thus, I predict there will be a new Web landscape on the recovery side of the downturn, hopefully with the multiple listing service organizations at the center.  more...

A mix of media and real estate marketing

By Inman News, Monday, December 15, 2008.

Tara Jones is CEO and co-owner of Reel Dwellings TV, a real estate video company. Jones will speak during a Digital Video Summit at the upcoming Real Estate Connect conference in New York City, which runs from Jan. 7-9.

Jones answered a set of questions posed by Inman News:

What do you see happening in the real estate market in 2009?  more...

Application tracks loan process online

By Inman News, Monday, December 15, 2008.

Loan originators are inviting borrowers, real estate agents, title and escrow officers, appraisers, and just about anyone else involved in a home purchase or refinancing to track the loan approval process online using Sthenia Solutions' LoanMarq application.

LoanMarq tracks 73 milestones and more than 30 documents involved in originating, processing underwriting and closing a loan, generating updates and reminders and allowing all participants to check on a loan's status.  more...