Inman Blog

Looking for your input to make Bloggers Connect SF '09 the best one yet

daniel.rothamel@inman.com — Fri, 27 Mar 2009 12:20:14 -0700

I don't know about you, but I'm already very excited about what we have in store for Real Estate Connect San Francisco 2009. The program is shaping up to be not only interesting and exciting, but innovative in its own right. There will plenty of great speakers, live debates, collective brainstorming, and live innovation. Even if you have been to a previous Connect, this one is sure to be a different, exciting, and rewarding experience unlike anything you will get from any other industry event. The best part is, you're still in time for early bird registration pricing.

One of the major components of any Connect are the workshops. This year, there are three-- the Internet Marketing Summit, ConnectTech (brand new for this year), and my personal favorite, Bloggers Connect.

I am, as we speak, working on finalizing the program for Bloggers Connect, and I want to make sure that it is the best Bloggers Connect ever. This is the 5th consecutive Bloggers Connect, and is the industry's longest running event of its kind, I want to make sure that it stays on the leading edge. In January, we made some major changes to the Bloggers Connect program, tried out some new things, and got really great feedback. I want to keep that momentum going, so I'm looking for your input. Tell me what topics, speakers, or program elements would really get you excited about social media. All you have to do is leave a comment on this post, or send me an email: daniel@inman.com

I'd love to get tons of great input from you. Our audience is filled with super intelligent and insightful folks, and together, I know that we can make Bloggers Connect SF '09 the best Bloggers Connect ever.

So, don't hesitate to share your ideas, I'd love to hear them. And, don't forget to take advantage of the early bird pricing, you only have a few more weeks. See you in San Francisco!

Word on the street is that real estate markets are improving -- You tell us ...

daniel.rothamel@inman.com — Sun, 22 Mar 2009 16:31:31 -0700

One of the things that we try to do here at Inman News is keep our finger on the pulse of what is happening in markets across the country. The best way for us to do that is to find out what folks on the ground in the industry are seeing in the markets where they work every day. Lately, buzz has been building from real estate professionals that suggests that many markets might be taking a turn for the better.

We want to hear from you. What are you seeing on the ground in your market? Are conditions getting worse, improving, or even getting better? What might be the reasons behind this movement?

We always strive to give you the most complete and accurate picture of what is happening in the real estate industry, and we need your help to do it. If you have a moment, fill out our short survey about your local market conditions. Once you fill out the survey, you can register for a random drawing to receive a $50 Amazon Gift Card.

So, share with us the conditions in your local market-- you know it best. We will learn something from your participation, you will learn something from the results, and you might even win $50 to spend at Amazon.com. Sound fair?

And, since we know that you are busy making your real estate business better, we made sure to keep the survey short. It's only nine questions, so it won't take but a minute. Click here to fill out the survey.

Killing those bonuses might make you feel better ...

matt@inman.com — Fri, 20 Mar 2009 17:25:17 -0700

...but it won't bring back the economy.

The "national rage" at bonuses paid to AIG executives (and other companies that have received billions in government TARP funding) "reflects our dangerous mood, and also says we have no idea what is important," says mortgage broker and syndicated columnist Lou Barnes.

Writing for the New York Times, Joe Nocera makes the same point.

"By week’s end, I was more depressed about the financial crisis than I’ve been since last September," he says. "Back then, the issue was the disintegration of the financial system, as the Lehman bankruptcy set off a terrible chain reaction. Now I’m worried that the political response is making the crisis worse."

Legislation passed by the House Thursday, HR 1586, would impose a 90 percent tax on bonuses granted to employees earning more than $250,000 at companies receiving at least $5 billion in TARP funds. Citi, JPMorgan, BofA, Goldman Sachs Group Inc., Morgan Stanley, PNC Financial Services Group Inc. and U.S. Bancorp all fall under that umbrella, the Wall Street Journal reports.

Rep. Barney Frank, D-Mass. the chairman of the powerful House Financial Services Committee, says he also wants Federal Housing Finance Agency Director James Lockhart to cancel retention bonuses for executives at Fannie Mae and Freddie Mac.

Barnes takes a position not unlike that of the leaders of some of the companies themselves -- that in the grand scheme of things, the AIG bonuses are chump change, and if the government moves to take them away, it "will freeze efforts at repair."

Here's how Citigroup CEO Vikram Pandit put it in a memo to employees:

"The work we have all done to try to stabilize the financial system and to get this economy moving again would be significantly set back if we lose our talented people because Congress imposes a special tax on financial services employees."

Pandit said the executives who got Citi into trouble are gone, and those who remain must be encouraged to stay.

BofA CEO Ken Lewis fired off a similar memo further explaining the rationale for such thinking. Taking away bonuses has "the potential to damage the ability of the government to engineer a financial recovery," Lewis said, because if investors and private sector companies "believe that the rules can change quickly and indiscriminately, they will be unwilling to participate."

That was presumably what Treasury officials were thinking when they asked Senate Banking Committee Chairman Chris Dodd, D-Conn., to dilute language in last month's economic stimulus bill that would have created restrictions on bonuses at companies receiving TARP funds (see CNN story).

For Fannie and Freddie, Lockhart said, the loss of "key personnel" would be "devastating to the companies and to the government's efforts to stabilize the housing system" (Freddie Mac just lost its new government-approved CEO, former U.S. Bancorp executive David Moffett, after only six months).

Lockhart noted that four of Freddie Mac's top paid executives and seven of the top eight at Fannie Mae have left since August -- and are not getting retention payments.

Although people have a right to be angry, Barnes says the real target of that anger should be the boards of directors of companies like AIG, Citi, Merrill, Bear, Lehman, WaMu, Countrywide, who were supposed to "protect stockholders and ride herd on CEOs."

You have to be pretty angry not to see Barnes' larger point -- that Congress won't really be solving much of anything if it does take away "retention bonuses," and might even make things worse.

But it will be interesting to see whether the 93 House members who voted against HR 1586 (six Democrats, 87 Republicans) can make that case to constituents who have lost their jobs, their homes and perhaps a good deal of their retirement savings.

Win $1,000 and a free registration to Real Estate Connect San Francisco 2009

jeff@m-homes.net — Thu, 12 Mar 2009 16:48:56 -0700

The Virginia Association of Realtors has launched the second annual "VARbuzz National Real Estate Blog Brawl," a single-elimination winner-take-all competition to identify the best Realtor-written blog.

VARbuzz, a blog written by VAR members, volunteer leaders, staff and guest authors, is accepting nominations for the Blog Brawl through Monday, March 16 at 8:59 a.m. EDT.

Prizes include:

· First place: A free pass to Real Estate Connect SF '09 and a $1000 travel allowance

· Second place: A free pass to Real Estate Connect SF '09

· Third and fourth places: Flip HD camcorder

Here’s how the Blog Brawl works:

You can nominate your own blog or someone else’s, but the blog you nominate must be written by a Realtor. VARbuzz will take the top 31 nominees and seed the Blog Brawl bracket in the same manner that the NCAA seeds its "March Madness" tournament bracket.

Why only 31 nominees? It’s called home-court advantage: As the winner of last fall’s Virginia Real Estate Blog Brawl, Heather Elias’s LoCoMusings blog earned the overall number one seed.

Once the field has been determined, throughout the rest of March and into early April VARbuzz will hold five rounds of voting. Your votes determine who moves onto the next round, who goes home weeping, and ultimately the winner.

So get cracking, and see if you have what it takes to earn a free registration to Real Estate Connect SF '09.

Photo contest entry: 'Swamped'

inmannews — Wed, 11 Mar 2009 14:59:49 -0700

Photo by JERRY KALMAN

"SWAMPED. Real estate is swamped and once wonderful homes, even lakefront properties, slowly sink in value."

Jerry Kalman, a Realtor with RE/MAX United in Bonsall, Calif., submitted this photo and caption for the Inman News Photo Contest. Click here to view a larger version of this photo.

Click here: "A picture is worth 1,000 words (and $200)" for more details about the photo contest.

Deadline for entries is March 31. View some of the contest entries here.

Inman News Real Estate Photo Contest -- $200 prize

glennroberts@inman.com — Tue, 10 Mar 2009 15:27:50 -0700

Send us your best single photo that captures the state of the residential real estate market for a chance to win a $200 gift card from Amazon.com. Your photo submission should be in digital form and must be sent via e-mail (to future@inman.com) or available for viewing on the Web. The photo can be color or black and white.

The photo should tell a story about the housing market and it should not be a marketing or promotional photo for a particular property, company, business model or individual. Click here to view some entries already submitted.

The contest deadline is March 31, 2009.

Details here: "A picture is worth 1,000 words (and $200)."

'Waterfall' and the falling-out of Move Inc. and ActiveRain

inmannews — Fri, 06 Mar 2009 10:21:34 -0800

Inman News reporter Matt Carter delves into the courtship and parting of ways by Realtor.com operator Move Inc. and real estate blogging network ActiveRain in a two-part series.

Move Inc. had eyed an acquisition of ActiveRain but pulled out of the deal. In response, ActiveRain filed a lawsuit.

Read both parts:

Code name 'Waterfall': Move's play for ActiveRain

Why did Move spurn ActiveRain?

Available Now - The Real Estate Commissions: 2009 Research Report

jeff@m-homes.net — Thu, 05 Mar 2009 16:09:35 -0800

This latest Inman News research report is based on a comprehensive survey on real estate compensation, conducted from November 2008 to February 2009. It reveals an industry in transition, with some stark contrasts to results from a previous survey conducted in June 2006.

The report includes a comprehensive examination of commission rates, commission splits, gross commission income, various costs of business including marketing costs and broker fees, and analyses of statistics based on location, experience in the industry and hours worked per week, among other factors.

Inman News Research Report - Real Estate Commissions: 2009

We have also made the survey data available to download for an additional $50 with the purchase of the report. Pay $80 more and get the survey data plus the Real Estate Commissions: 2006 Report.

Click here for purchase options.

Inman 10-point real estate reform list: Love it? Hate it? Tell us why ...

daniel.rothamel@inman.com — Wed, 04 Mar 2009 11:57:41 -0800

Last week, the editorial team at Inman News published a list of 10 real estate industry reforms. The list generated some good discussion, and we know that there are a lot of people out there who still have something to say, but might not have had the chance.

That's why we created the "Reforming Real Estate" group in the Inman Community. Join the group, and you will find discussion topics having to do with the list and the suggested reforms.

For the benefit of those who aren't Inman Premium members and can't access the archive of the full article, here is a summary of the list:

1. Create a more effective regulatory framework for real estate and mortgage professionals.

2. Reform the mortgage origination process.

3. Promote a more efficient real estate industry, reducing costs and promoting services that favor the consumer.

4. Ensure competition and transparency in the way real estate agents are compensated.

5. Consolidate MLS information into a single national database.

6. Real estate professionals should provide buyers and sellers with vastly improved market analytics.

7. Reform the mortgage securitization process.

8. Reduce settlement services costs, regulate bundling of services to prevent price gouging.

9. Ensure affordable housing, smart development.

10. Remove barriers to alternative business models.

If you agree with any or all of the items on the list, tell us why. If you hated them, tell us that, too. Heck, if you want to come up with a list all your own, you can even share that with everyone.

Inman Community membership is open to anyone with an Inman News account. If you don't have one, simply sign-up. It's free, and the discussion is sure to be interesting and enlightening . . .