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Low rates sparking demand for mortgages

By Inman News, Thursday, November 10, 2011.

Mortgage rates were little changed this week amid mixed economic reports, Freddie Mac said in releasing the results of its weekly survey of lenders.

A separate survey by the Mortgage Bankers Association showed demand for both purchase mortgages and refinancings jumped last week, with many homeowners moving into 15-year loans as rates stayed near historic lows.  more...

Join a neighborhood group, but for the right reasons Premium Content

By Teresa Boardman, Thursday, November 10, 2011.
Image via <a href="http://www.shutterstock.com/gallery-842983p1.html">deepadesigns</a>/<a href="http://www.shutterstock.com">Shutterstock</a>

The idea that a real estate agent should start a neighborhood group or website in their community has been popular since the late 1990s. When I first started selling real estate, there were neighborhood websites that agents could buy and then sponsor a neighborhood.

The neighborhood websites depended on agents and neighbors contributing fresh content. Local businesses could advertise on them, and the local real estate agents would supposedly prosper as the neighborhood expert.  more...

Foreclosure activity rises in October

By Inman News, Thursday, November 10, 2011.

In another sign foreclosure activity is ramping up, foreclosure filings rose nationwide in October compared to the month before, according to the latest report from foreclosure data site RealtyTrac.

One in every 563 housing units, or 230,678 properties, received a filing -- a default notice, scheduled auction, or bank repossession -- in October. While that's a 7 percent jump from September, filings were still down nearly 31 percent from October 2010.  more...

San Diego MLS offers consumers property search Premium Content

By Inman News, Thursday, November 10, 2011.

Saying it wants to turn consumers' focus back to brokers and agents and away from third-party sites like Zillow and Trulia, San Diego-area multiple listing service Sandicor Inc. has launched a public-facing, map-based property search site.

Not all MLSs operate public-facing property search sites, deferring to member brokers and agents who offer listing searches on their own websites.  more...

Know the signs that can boost your business Premium Content

By Bernice Ross, Thursday, November 10, 2011.
<a href="http://www.shutterstock.com/gallery-122248p1.html" target=blank>Arkady</a>/<a href="http://www.shutterstock.com" target=blank>Shutterstock</a>

The real estate industry has never lost its love for trying to predict the market. It also continues to place a heavy emphasis on print marketing with a "Me, Me, Me"-based approach. As the old saying goes, "The more things change, the more they stay the same."

Reading the tea leaves

Back in 2005, prices were exploding while the inventory supply was starting to build. This was the first sign that a downturn was on the way. An article I wrote, "Weathering a Market Downturn," suggested seven strategies for surviving $4-a-gallon gasoline prices and a tough buyer's market:  more...

ZipRealty signs third brokerage up for referral program

By Inman News, Thursday, November 10, 2011.
<a href="http://www.shutterstock.com/gallery-91282p1.html" target=blank>Dmitriy Shironosov</a>/<a href="http://www.shutterstock.com" target=blank>Shutterstock</a>

Technology-based brokerage ZipRealty Inc. continues to expand its "Powered by Zip" referral program, signing up a 600-agent brokerage in North Carolina as the third outside user of ZipRealty's lead generation and management platform.

Based in Raleigh, Coldwell Banker Howard and Perry Walston is the leading brokerage in North Carolina's Greater Triangle Area, which also includes Durham and Chapel Hill, the companies said.  more...

A unique strategy to expedite short sale

By Tara-Nicholle Nelson, Thursday, November 10, 2011.
<a href="http://www.shutterstock.com/gallery-100760p1.html" target=blank>Andy Dean Photography</a>/<a href="http://www.shutterstock.com" target=blank>Shutterstock</a>

Q: I'm in contract on a second home in Florida. (It's a short sale and I know it can take a long time.) My mortgage has been approved, but the delay now is that there is a lien on the house. The owner didn't pay a bill for a water purifying system, and the bank is not responsible because it's not a tax lien.

Is there any negotiating leverage here for me? Could I possibly get the price lowered if I pay off the bill, or make some arrangement like that? I just want this process to be over. I have a basement full of furniture waiting to go to its new home! --Ramona L.  more...

Using Facebook to screen tenants invites trouble

By Janet Portman, Thursday, November 10, 2011.
<a href="http://www.shutterstock.com/gallery-469723p1.html" target=blank>flydragon</a>/<a href="http://www.shutterstock.com" target=blank>Shutterstock</a>

Q: I applied for a rental last month and thought I'd get the place -- I have an excellent record as a tenant, a stable job, and a string of happy landlords in my past. But I was rejected. A friend asked me whether I'd taken down my Facebook page before applying -- he said that landlords regularly check these, and they make decisions based on what they find. On my page, it's clear that I'm very politically active and that I'm a Buddhist. How can I find out whether the landlord went online, and whether the information he found contributed to his decision -- which would have been illegal, right? --Tom F.

A: Your friend was correct when he told you that online searches of applicants' social media postings are on the rise. In the employment area, studies show that employers regularly conduct such searches. For example, an August 2011 study by the Society for Human Resource Management contacted 541 job recruiters and found that 18 percent said their companies regularly researched their applicants on sites such as Twitter and Facebook. There's no reason to think that landlords are proceeding any differently.  more...

 
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