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Case-Shiller: Prices back to 2003 levels Premium Content

By Inman News, Tuesday, March 31, 2009.

Prices were down from a year ago January in all 20 metro areas tracked by the S&P/Case-Shiller Home Price Indices, with 13 of those markets seeing the steepest rates of decline since the downturn began.

Prices fell by more than 10 percent in 14 of the 20 metro areas tracked by the indices, and more than 20 percent in nine. The 20-city composite was down a record 19 percent from a year ago, and 29.1 percent from its peak, as average home prices returned to levels last seen in late 2003, Standard & Poor's said.  more...

RealeFlix offers free real estate video tours

By Inman News, Tuesday, March 31, 2009.

RealeFlix, a free online service that launched in February, allows users to search and publish video tours of properties.

The site (RealeFlix.com) features a range of property types, including single-family homes, multifamily structures, vacant land, condos, commercial real estate, farms and timeshares. Users must register to publish video tours at the site.  more...

Fidelity to pay regulators $365K

By Inman News, Tuesday, March 31, 2009.

Fidelity National Title Company has agreed to pay $365,000 in penalties and reimbursement to California regulators to settle allegations that the company's Orange County office provided printing, gifts, travel and entertainment to Realtors and lenders in a position to refer the company business.

The California Department of Insurance announced the Feb. 17 agreement Monday, saying it related to illegal rebating activities that allegedly took place from 2000 to 2002. The department said it opened an investigation in September, 2002.  more...

Dramatic increase in prime-loan foreclosures

By Inman News, Tuesday, March 31, 2009.

Foreclosure starts and foreclosure sales of homes purchased with prime loans increased dramatically from January to February, and the percentage of homes completing the foreclosure process approached highs not seen since last summer.  more...

A Realtor's best friend

By Inman News, Tuesday, March 31, 2009.

Realtors showing up to make a listing presentation to Candy Spelling -- widow of famed television producer Aaron Spelling -- first had to pass muster with her dog.

Agents hoping to land the job of marketing Spelling's $150 million Los Angeles mansion were first introduced to Madison, her Wheaten Terrier. If the dog didn't like the agent, "Spelling crossed them off the list," the Associated Press reports.  more...

IPhone spurs app revolution Premium Content

By Matt Carter, Tuesday, March 31, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/williamhook/2830319467/">William Hook</a>.

New mobile-phone applications tailored for real estate are moving beyond for-sale property searches and into areas once reserved for personal computers, such as lead generation and management, market research and analysis, and customer relationship management.

As is often the case in the fast-moving world of technology, yesterday's dazzling breakthrough -- the ability to access listings on the go using a mobile phone -- is becoming the norm. Now consumers and real estate professionals are demanding more.  more...

NAR: Slowdown in vacation-home sales Premium Content

By Glenn Roberts Jr., Monday, March 30, 2009.

The share of second-home purchases among all home sales fell to 30 percent, according to the latest annual National Association of Realtors survey, down from 33 percent in the 2007 survey and 40 percent in 2005.

Sales of primary residences dropped 13.2 percent from 2007 to 2008, while sales of vacation homes fell 30.8 percent and sales of investment homes fell 17.2 percent during the same period, NAR reported.  more...

Clareity announces new MLS security tools

By Inman News, Monday, March 30, 2009.

Real estate tech company Clareity Security, through its partnership with tech company AdmitOne Security, has announced the release of two new security products: Scout for SAFEMLS and Sentry for SAFEMLS.

The tools are intended to help multiple listing services prevent unauthorized access of MLS information.  more...

Rental site rebrands as 'Beast'

By Inman News, Monday, March 30, 2009.

A Massachusetts-based rental search site, formerly known as Grand Central Apartments, has rebranded as Rental Beast.

It is common for renters in the Boston area to pay a broker fee to secure a lease, and this cost is often the equivalent of a full month's rental fee, in addition to the first month's rent and last month's rent and a security fee, Rental Beast's Web site states.  more...

The road ahead

By Inman News, Monday, March 30, 2009.

Photo by MARGIE O'CAMP DE CASTILLO

 

"The road ahead."

"The unknown destination of the tough road ahead is not as worrisome if we look up and appreciate what is real. Focus on the things we have but have taken for granted, and enjoy the odyssey," writes Margie O'Campo de Castillo of Arizona Dream Realty in Phoenix. She captured this image in Sedona, Ariz.  more...

Dems target incentives for loan originators Premium Content

By Inman News, Friday, March 27, 2009.

House Democrats have introduced legislation that supporters say would remove incentives for mortgage brokers to place borrowers in higher-cost loans, and require lenders to retain some exposure to riskier loans that are securitized and sold to secondary market investors.  more...

First-timers worry about jobs, credit Premium Content

By Inman News, Friday, March 27, 2009.

Most prospective first-time homebuyers know interest rates are low and believe that homes are affordable. But nearly half don't know about the $8,000 tax credit available to first-time homebuyers through the end of November, and three in four say it's hard to get a loan.

Those are some of the key findings of a survey of 1,000 prospective first-time homebuyers conducted in early March for Century 21 Real Estate LLC.  more...

Everything must go

By Inman News, Friday, March 27, 2009.

Photo by BRYANT TUTAS

"Everything must go."

Bryant Tutas, broker-owner of Tutas Towne Realty Inc. in Dundee, Fla., submitted this photo of a home in Davenport, Fla. He captured the image in February 2009.

"It reminds me that there are real people that are affected by these foreclosures," according to Tutas.  more...

California home-sales rate outpaces '08

By Inman News, Thursday, March 26, 2009.

The sales pace for previously owned single-family homes in California soared 83 percent year-over-year in February while the median price plunged 40.8 percent, the California Association of Realtors reported this week.  more...

Mortgage rates hit another low

By Inman News, Thursday, March 26, 2009.

Rates on fixed-rate mortgages hit new lows this week in response to the Federal Reserve's announcement that it will make big purchases of Treasurys and mortgage-backed securities.

The 30-year fixed-rate mortgage averaged 4.85 percent with an average of 0.7 point for the week ending March 26, down from 4.98 percent a week ago and 5.85 percent a year ago. The rate has never been lower since Freddie Mac began its survey in 1971.  more...

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