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Pending sales rise for 8th month

By Inman News, Monday, November 2, 2009.

A trade group's index gauging pending sales of resale homes rose for the eighth straight month in September and was up 21.2 percent compared to the same month last year.

The National Association of Realtors reported that the index rose 6.1 percent from August to September, reaching 110.1 -- an index score of 100 is equal to the average level of sales contract activity in 2001, which was the first year to be examined for the index.

The index for all of 2008 was 87.1; in 2007 it was 96.3, and in 2006 it stood at 111.9.  more...

FTC orders MLS to publish listings Premium Content

By Matt Carter, Monday, November 2, 2009.

Realcomp II MLS, a Detroit-area multiple listing service that ultimately stood alone in challenging the government's position that MLSs are breaking the law if they refuse to transmit "exclusive agency" property listings favored by discount brokers to public Web sites, has been ordered to reverse its policy.

In a unanimous 4-0 decision, the Federal Trade Commission (FTC) found that Realcomp II's Web site policy and related requirements impose a "significant impediment" to consumer access to listings represented by limited-service brokers, helping protect full-service brokers' commissions from competition.  more...

A tale of 2 real estate 'tweeters' Premium Content

By Mary Umberger, Monday, November 2, 2009.
Kelly Mitchell and Kevin Cottrell

This is a tale of two Tweeters. They're tackling the microblogging phenomenon in ways that are polar opposites -- and are equally convinced that it's a great way to build their real estate businesses.

Kelly Mitchell is a Honolulu agent who uses Twitter.com to send out brief dispatches that spotlight news in the real estate market, and also focus on her daily life and her feelings -- about being stuck in traffic, about an inspirational quote, and talking to college students about social media, for example.  more...

Vote on tax credit expected this week

By Inman News, Monday, November 2, 2009.

Congress has approved a one-year extension of higher loan limits for mortgages backed by the Federal Housing Administration, Fannie Mae or Freddie Mac, and an amendment that would extend the first-time homebuyer tax credit has been incorporated into a Senate bill to prolong unemployment benefits.

A procedural vote on the unemployment benefit legislation, HR 3548, is expected today, Congressional Quarterly reported, with final passage by the end of the week.  more...