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Feb

26
2010

Jobs should be job No. 1

By Inman News, Friday, February 26, 2010.

 

Re: 'Bye-bye equity' (Feb. 26)

Dear Editor:

Everything Lou Barnes says is correct, but as I see it his prescription to restore adequate credit misses the real fundamental remedy -- namely JOBS. Lenders are not lending because the incomes, at the margin, are simply not there.  more...

Feb

23
2010

Dot-com crash anniversary, Part 2

By Bradley Inman, Tuesday, February 23, 2010.
Flickr photo by <a href="http://www.flickr.com/photos/oxborrow/82522931/">Mr Wabu</a>.

Over the years, I have worked with many remarkable people.

Take Andrew Coleman, who earned a master's degree in business administration from Northwestern University's Kellogg School of Management  before joining HomeGain in 1999 as head of business development.

He is smart, hard-working and packed with passion. And his courage saved the company.

One day in the Spring of 2000, he came into my office to tell me that things were upside down at HomeGain. I can be intimidating, so I know this was not an easy conversation.  more...

Where is our bailout?

By Inman News, Tuesday, February 23, 2010.

Re: 'Study: Foreclosures hurt family stability' (Feb. 18)

Dear Editor:

If the banks and the "investors" that securitized loans don't come to the realization that they need to reduce principal and fix rates for underwater homeowners, it will not just be the lower-priced homes that will go into foreclosure.

People are just going to walk from their properties. The banks accepted the overinflated appraisals and now we, the normal people, are paying the price for Wall Street fraud. Where is our stimulus package and bailout?  more...

Feb

22
2010

Dual-agency disclosure makes no sense

By Inman News, Monday, February 22, 2010.

Re: 'N.C. Realtors fight dual-agency disclosure' (Feb. 18)

Dear Editor:

Here again there is an issue about Realtors' commissions. If an agent represents both buyer and seller -- dual agency -- he therefore is paid the total commission, since there is no split.

Many times the commission paid is at a reduced rate, since there is only one agent involved, but regardless, how does this have anything to do with the buyer making the offer?  more...

Feb

19
2010

Technology will never replace agents

By Inman News, Friday, February 19, 2010.

Re: 'I can be replaced' (Feb. 17)

Dear Editor:

While technological advancement should be embraced, it will never replace human intervention. Were that not true, there would be no need for judges, bankers, lawyers or politicians. Well ... maybe mechanical replacement is not all bad.

That aside, machines and technology will never be able to consult, identifying the true motivation for buying or selling or determining the proper strategy for maximizing return, both monetary and psychological.  more...

Feb

17
2010

Get stars in your eyes ... head will blow up

By Bradley Inman, Wednesday, February 17, 2010.

The 10-year anniversary of the dot-com crash is next month, a good time to write about the fine line between leadership and hubris.

In early 2000, HomeGain, an online real estate company that I started the year before, was chasing leader Realtor.com. We were quickly building awareness and sign-ups around our home-valuation tool and our venture-backed radio spend. In those days, we were second or third in online real estate traffic and the premium was on visitor count and user engagement, not revenue. (In just a few months, the math and mood changed for all dot-com entrepreneurs and their investors). Hubris was creeping in.

Get stars in your eyes and your head will blow up.  more...

Affordability a 'C-': Are we nuts?

By John Burns, Wednesday, February 17, 2010.
John Burns

Before I get into our affordability calculations, let me explain the methodology behind all of the grades below.

1. We collect a complete history on 70-plus variables and forecast the important ones by forecasting each metropolitan statistical area (MSA) and rolling it up.

2. In this monthly e-mail, we publish the current stats along with the historical minimums, maximums and averages as a service to the industry.

3. Each indicator is graded based on a bell curve where an "A" is its historical best, a "C" is its historical average, and an "F" is its historical worst. The grades are designed to provide a simple tool for decision-makers to scan the data.  more...

Feb

15
2010

Stars are aligned

By Bradley Inman, Monday, February 15, 2010.

I often tell young members of my team that only a few times, maybe only once, are the "stars aligned" in your professional life, so appreciate the moment if it happens. A crowd lined up for four blocks for the first San Francisco Examiner Home Buyers Fair; 15,000 sign-ups in a day for HomeGain's home valuation tool; and 30,000 iPhone downloads of the Sherlock Holmes Vook in less than a week. These are results -- moments of euphoria that suggest that you are onto something -- better than any drug.

But what I really mean by "stars aligned" are those times when the right team is working together with enthusiasm on a new product with new customers. Nothing for me is more inspiring about business, the sense of purpose with fun folks who charge ahead without abandon.  more...

Feb

9
2010

Doing business with people you don't like

By Bradley Inman, Tuesday, February 9, 2010.

My good friend, Kris Inman (and former wife) and I started Inman News more than 25 years ago. It was a family business, a mom-and-pop, built around the syndication of my consumer newspaper column. Inman News has grown since and has been the incubator for many other businesses including TurnHere and HomeGain.

The trade publication -- Inman.com -- began in 1996 when I posted short stories on the Internet -- a blog really. The audience suddenly grew when I covered a failed technology venture at the National Association of Realtors, dubbed RIN. Real estate professionals were looking for more transparency about their industry and they were eager to learn more about new technologies. They became our readers and our Real Estate Connect conferences soon followed.  more...

Feb

8
2010

Unleash the inventory

By Inman News, Monday, February 8, 2010.

Re: 'HARP's unintended consequence' (Feb. 5)

Dear Editor:

I'm a Realtor in Northern California who has sold homes for 40 years -- 28 of those years representing lenders in the sale of their REO (bank-owned) assets. What we see is a process that encourages default, makes it socially acceptable to default on your mortgage, and is counterproductive to the economy.

Government and bank actions of postponing foreclosures have created a shortage of inventory -- intended to keep values as high as possible. While commendable, the fact remains that there are countless qualified buyers unable to purchase a home because they constantly lose out in multiple-bid situations.  more...

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