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Sep

30
2009

Credit history is only part of the story

By Inman News, Wednesday, September 30, 2009.

Re: 'Short sales, mods give investors grief' (Sept. 25)

Dear Editor:

I am going through a short sale on my personal residence. The biggest concern I have is removing the debt and stopping the financial bleeding. At this point the concerns over future credit rating or FICO scores are trivial.  more...

Sep

29
2009

WellcomeMat App: Post video on the go

By , Tuesday, September 29, 2009.

WellcomeMat, the online real estate video site, has launched a new iPhone app.

Using the app you can now shoot off-the-cuff video walkthroughs of your listings on your iPhone 3GS and post them immediately to WellcomeMat, Twitter, YouTube and Facebook.  more...

Sep

28
2009

RESPA's missed opportunity

By Inman News, Monday, September 28, 2009.

"The core problem (with the closing process) is that too many Americans sign a mountain of documents they don't understand and pay thousands for services that they've probably never heard of," said Brian Montgomery in 2001, when he was the U.S. Department of Housing and Urban Development's assistant secretary for Housing and Federal Housing Commissioner.

He was commenting on an Urban Institute study that found significant disparities in closing costs even among borrowers with identical credit scores, loan terms and mortgages: "This report proves that the more informed you are, the less you pay. Our common goal should be to increase competition and transparency, and to help take the mystery out of buying a home."  more...

Sep

25
2009

Augmented reality real estate valuations

By , Friday, September 25, 2009.

French company MeilleurAgents.com ("best agents") has released a mobile Android application that displays the value of every single building in Paris (value is displayed in price per square meter). Here’s a quick video demonstrating it in action:  more...

Here come the spammers

By Inman News, Friday, September 25, 2009.

Re: 'Social media telemarketing' (Sept. 24)

Dear Editor:

I have to agree with the sentiment Ms. Boardman expresses. It seems like every new wonder is wonderful for awhile. That is, until it is used to inundate us with spam marketing. It is hard to stay one step ahead of the game.

I used to market on Craigslist but have since given up. It was so much of an effort to place a nice HTML marketing page for each of our listings and then delete and update them as permitted by Craigslist. It really didn't do much in the way of getting me any business -- it served as a means to show clients that we were actively marketing their listings.  more...

Sep

23
2009

New site to source REO deals

By Global Edge, Wednesday, September 23, 2009.

Brad Geisen, founder of Foreclosure.com, has launched a site to help U.S. banks offload property to agents and investors.

Quicksale.com will handle the marketing, processing, negotiating and closing of sales, and pay agents a commission when they facilitate a sale. According to Geisen, "It short-circuits the entire foreclosure process to ensure the best possible outcome for all parties involved."  more...

Sep

21
2009

'Throwing money' at wrong buyers?

By Inman News, Monday, September 21, 2009.

Re: 'First-time buyers aren't first in line' (Sept. 4)

Dear Editor:

In a perfect world, industry solutions would be created, or at least vetted, by industry experts and practitioners. I believe we can all safely assume that anything to the contrary is a complete waste of resources!  more...

Sep

18
2009

A recession in recovery's clothing?

By Inman News, Friday, September 18, 2009.

Re: 'Forecast: Recovery a long, hard slog' (Sept. 17)

Dear Editor:

It is that time of year again, when the economists from University of California, Los Angeles, publish the Anderson Forecast. I am surprised that this time around they are announcing the recession is over -- and ended during this quarter.

Wow, I bet all of those consumers who continue to be laid off, look for employment, or have given up looking for gainful employment will be happy to hear the good news. I am sure all of the retailers that have shown declines in sales -- quarter after quarter -- will be happy to hear it, as well.  more...

Sep

16
2009

Seized bank plans Vegas fire sale

By Global Edge, Wednesday, September 16, 2009.

The Las Vegas Sun reports that the regulator responsible for the recently closed Corus Bank, famous for its aggressive condo development lending during the boom, is selling off its foreclosed properties, which include high-profile Las Vegas projects.

The projects include Streamline Tower condominiums on which Corus was owed $108 million. Only 27 of the 275 condominiums there were ever sold. Another is One Las Vegas condominiums at 8255 Las Vegas Blvd. South, which was extended $140 million in credit.  more...

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