Home
Date

NAR to release revised home-sale stats

By Inman News, Monday, December 19, 2011.
<a href="http://www.shutterstock.com/gallery-195277p1.html">House data image</a> via Shutterstock.com.

The National Association of Realtors on Wednesday will issue revised estimates for existing-home sales going back five years, saying the formula it had been using to adjust the sales data it collects from multiple listing services had drifted out of whack and was overestimating sales.

The benchmark revisions to existing-home sales data will show fewer homes changed hands than NAR had previously reported, the trade group said. But the revisions will show little change in previously reported trends in home sales, and no change in median home price, NAR said.  more...

Find the perfect match for your listing Premium Content

By Bernice Ross, Monday, December 19, 2011.
<a href="http://www.shutterstock.com/gallery-505780p1.html" target=blank>Finding love road sign image</a> via Shutterstock.com.

The challenge that agents face today is standing out from the competition both as agents and in terms of their listings.

What does it take to motivate buyers and sellers to say, "Gosh, that's amazing!" about you and your marketing materials? Peter Knight of the United Kingdom-based Property Academy shared several fresh ideas from around the globe at the recent National Association of Realtors conference.  more...

7 towns with holiday-themed names: Santa Claus, Ind., is on the list

By Inman News, Monday, December 19, 2011.
Santa Claus House in North Pole, Alaska. <i>Flickr/<a href="http://www.flickr.com/photos/europedistrict/4585514481/">USACE Europe District</a></i>.

The average American city jump-starts the holiday season with the usual kind of merrymaking activities: tree-lighting festivals, the opening of ice skating rinks, and holiday concerts beckoning celebrants to get in the spirit.

But then there are cities and towns where the very name of the place conjures visions of sugar plum fairies, elves and reindeer 365 days a year. From Christmas Cove, Maine, to Saint Nicholas, Pa., and, of course, North Pole, Alaska, it's hard not to adopt the yuletide glow.  more...

Zillow, Move vie for borrowers at AOL Real Estate Premium Content

By Inman News, Monday, December 19, 2011.
<a href="http://www.shutterstock.com/gallery-5880p1.html">Online mortgage image</a> via Shutterstock.com.

Homebuyers can now access the Zillow Mortgage Marketplace through AOL Real Estate, although links on listing detail pages for individual properties continue to take users to another mortgage prequalification site operated by Zillow rival Move Inc.

Zillow Mortgage Marketplace launched today on AOL Real Estate and another AOL website, DailyFinance.com, offering rate quotes, mortgage calculators, and real-time mortgage rates on both sites, the companies said.  more...

SoHo townhouse featured in Beyonce music video fetches $3.3K per night

By Inman News, Monday, December 19, 2011.

We don't usually feature rentals on the House of the Day, but this majorly expensive, utterly enormous townhouse rental in New York City's trendy SoHo neighborhood fits the bill nicely, especially considering the rent totals $1.2 million per year.  more...

3 tips for staging your home to sell

By Dian Hymer, Monday, December 19, 2011.
<a href="http://www.shutterstock.com/gallery-85699p1.html">Paint brush image</a> via Shutterstock.com.

Today's buyers are looking for turnkey homes. That is, they want to move right in without having to do a lot of work. Buyers with busy lifestyles pay a premium for listings that are in prime condition. Staging can make the difference between a listing selling or not, the time it takes to sell, and the ultimate sale price.

Sellers who are financially strapped often have a hard time accepting that they'll need to invest in preparing a house for sale even though they may sell for less than they paid. Fix-up costs can mount up; your agent can help you prioritize so that you don't waste money. It's important to keep your goal in mind, which is to sell your house in a difficult market.  more...

8 things you should know about down payments

By Jack Guttentag, Monday, December 19, 2011.
<a href="http://www.shutterstock.com/gallery-264874p1.html">House and calculator image</a> via Shutterstock.com.

Q: What is the down payment?

A: The down payment is the property value less the loan amount. It is not the same as the borrower's cash outlay if some of that outlay is used for settlement costs. On a newly constructed home, the land value can be part or all of the down payment.

Q: If the appraised value of a home exceeds the sale price, can the difference be applied to the down payment?

A: No, the property value upon which down payment requirements are based is the lower of sale price and appraised value. An appraisal higher than the price is disregarded.  more...

SEC charges Fannie, Freddie execs with fraud

By Inman News, Monday, December 19, 2011.
<a href="http://www.shutterstock.com/gallery-493p1.html" target=blank>Fraud dictionary image</a> via Shutterstock.com.

The U.S. Securities and Exchange Commission on Friday charged six former top executives of Fannie Mae and Freddie Mac, including their former chief executives, with securities fraud, alleging they misled investors about the extent of the mortgage giants' exposure to higher-risk subprime loans.

In two separate lawsuits, the SEC filed charges against three former Fannie Mae executives: former CEO Daniel H. Mudd; former chief risk officer Enrico Dallavecchia; and former executive vice president of Fannie Mae's single-family mortgage business Thomas A. Lund; and three former Freddie Mac executives: former chairman of the board and CEO Richard F. Syron; former executive vice president and chief business officer Patricia L. Cook; and former executive vice president for the single-family guarantee business Donald J. Bisenius.  more...