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Move Inc. CFO to depart

By Inman News, Friday, April 3, 2009.

Realtor.com operator Move Inc. Chief Financial Officer Lewis R. Belote III, who joined the company in 2002 (then known as Homestore) in the wake of an accounting scandal, will leave the company this year.

Belote will continue to serve as CFO until the company appoints a successor, Move officials said in a statement.  more...

Lenders approving more short sales Premium Content

By Inman News, Friday, April 3, 2009.

Loan servicers approved nearly three times as many short sales in the last three months of 2008 as they did in the first quarter of the year, but still completed close to six foreclosures for every short sale, according to a report issued by bank regulators today.

The report also showed that delinquencies continued to climb, with the biggest jump in prime mortgages, and that nearly half of borrowers granted loan modifications were seriously delinquent or in foreclosure within eight months.  more...

Real estate teams find power in numbers

By Maureen Wilkey, Friday, April 3, 2009.
Flickr image by <a href="http://www.flickr.com/photos/artemfinland/3346448792/" target=blank>ArtemFinland</a>.

CHICAGO -- They say two heads are better than one. But what about 17? Or 30? Broker teams across the country are growing in popularity, but also in the number of people involved in the team. While some Realtors might be hesitant to start sharing profits from their businesses during tough economic times, two teams in Chicago have found that synergy is working for them.

"When I first started in real estate by myself, I was working 75 or 80 hours a week sometimes," says Fred Scovell of Scovell-Sabatini Team, a part of Chicago's Rubloff real estate brokerage company. "I wanted to hire an assistant, but I realized the kind of person I would want as an assistant wouldn't want to stay an assistant for very long."  more...