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Exercising lease option during foreclosure

By Benny Kass, Tuesday, January 31, 2012.
<a href="http://www.shutterstock.com/gallery-472741p1.html">Rent or buy image</a> via Shutterstock.com.

DEAR BENNY: We have been renting a house with an option to buy for two years now. We recently learned from mail the bank has sent that the property was listed for foreclosure. (No, we have not opened the letters addressed to the owners, but they are from the bank that holds the mortgage and they have been coming every two weeks addressed to both lien holders). We also received a letter from an attorney indicating that the property was listed for foreclosure.

So it appears that the landlord has not been paying the mortgage. Is there anything we can do at this point?  more...

3 ways homebuyers kill their own real estate deals  Premium Content

By Tara-Nicholle Nelson, Tuesday, January 31, 2012.
<a href="http://www.shutterstock.com/gallery-444220p1.html">House dominoes image</a> via Shutterstock.com.

I recently bought a couple of spa treatment packages for a friend's birthday (as much as a gift to myself as to her, to be sure). The package included a pedicure and a massage for the price of the massage, but had a bizarro restriction that required I pick the gift cards up at least one day prior to spa day.

The problem: The spa was across a bridge from my town. Despite my very best calculations, I hit unexpected traffic and it took me an hour's drive just to pick them up.  more...

LPS asks Nevada court to throw out consumer fraud suit Premium Content

By Inman News, Tuesday, January 31, 2012.
<a href="http://www.shutterstock.com/gallery-728089p1.html">Robot arm image</a> via Shutterstock.com.

Lender Processing Services Inc., provider of real estate technology, services, and mortgage performance data, today filed a motion to dismiss a consumer fraud lawsuit against the company filed by the state of Nevada that alleges the company falsified foreclosure documents.

The state's attorney general, Catherine Cortez Masto, filed the suit on Dec. 15, 2011, in a state district court in Clark County. The suit names LPS, its predecessor Fidelity National Information Services Inc., and LPS subsidiaries including DOCX LLC and LPS Default Solutions Inc.  more...

Who is to blame for faulty septic system?

By Barry Stone, Tuesday, January 31, 2012.
<a href="http://www.shutterstock.com/gallery-182188p1.html">Pipes image</a> via Shutterstock.com.

DEAR BARRY: We bought our home two months ago, and this week our septic system backed up into the basement. When the septic contractor dug up the tank, it had no lid and was filled with dirt. If we had known about this, repairs could have been made before we bought the property. Shouldn't this have been caught by our home inspector? --Whitney

DEAR WHITNEY: Home inspectors report defects that are visible and accessible. Conditions that are underground are exempt from that kind of inspection. The only clue your home inspector might have had would have been slow or congested drains at the sinks, tubs or showers. If those fixtures were draining properly on the day of the inspection, there is no way your home inspector could have known about the problem.  more...

Neighborhood search for strangers in a strange land Premium Content

By Gahlord Dewald, Tuesday, January 31, 2012.
<a href="http://www.shutterstock.com/gallery-302155p1.html">Map image</a> via Shutterstock.com.

Online tools people can use to figure out what a neighborhood is really like.

If you're relocating and don't have a clue about the town you're moving to, where do you start? My regular readers probably hope the answer is "Call a real estate professional!" But we all know that probably isn't what's going to happen. Not at first anyway.  more...

'Man caves' fit for Super Bowl Sunday

By Inman News, Tuesday, January 31, 2012.
<a href="http://www.shutterstock.com/gallery-231946p1.html">Cave painting image</a> via Shutterstock.com.

It may sound like a football fan's dream to attend a Super Bowl game live and in person. But really? Indianapolis? In February?

Unless you are a rabid fan of the New York Giants or the New England Patriots -- the conference champs who will square off in Super Bowl XLVI on Sunday, Feb. 5, at Lucas Oil Stadium -- there really are better places to watch the National Football League title game ... like from a tricked-out, beer-tapped man cave!  more...

Century 21 Super Bowl ad to feature Donald Trump, Deion Sanders, Apolo Ohno

By Paul Hagey, Tuesday, January 31, 2012.
<i>Screenshot of a <a href="http://www.century21.com/superbowl">Century 21 Super Bowl ad</a> featuring Donald Trump, left.</i>

This year, the Super Bowl brings to an anticipated 110 million-plus U.S. television audience its perennial cast of characters: two iconic National Football League powerhouses, more than a few carmakers, beer companies, and big-studio movies. And for the first time in a long time, a real estate brokerage company will be part of the mix.

Century 21 Real Estate -- among the largest global real estate franchisors with about 7,600 franchise offices in 71 countries -- is set to air a 30-second spot during the third quarter of Sunday's Super Bowl, which begins at 6:30 p.m. EST on NBC this Sunday, Feb. 5.  more...

Real estate e-document firm Cartavi integrates with DocuSign

By Inman News, Tuesday, January 31, 2012.
<a href="http://www.shutterstock.com/gallery-66616p1.html">Digital signature image</a> via Shutterstock.com.

Cloud-based real estate document management company Cartavi today announced integration with e-signature company DocuSign, which will allow subscribers of the two services to access both via a single sign-in process after an initial setup process.

Cartavi, founded in 2009 by Glenn Shimkus and Paul Koziarz, formally launched last year during the Real Estate Connect conference in San Francisco.  more...

Report: Freddie Mac bets against homeowner refinancings

By Inman News, Monday, January 30, 2012.
<a href="http://www.shutterstock.com/gallery-152701p1.html">Freddie Mac headquarters image</a> via Shutterstock.com.

In 2010 and 2011, mortgage giant Freddie Mac invested billions of dollars on bets that homeowners with high-interest mortgages would not be able to refinance at today's lower interest rates, according to a joint investigation conducted by NPR and ProPublica, a nonprofit, independent news agency.

While legal, the bets appear to be in direct conflict with the taxpayer-backed company's public mission, as stated on its website, "to stabilize the nation's residential mortgage markets and expand opportunities for homeownership and affordable rental housing," the news agencies said, noting that refinancing terms have been getting more restrictive of late and include higher fees and new rules that prevent some homeowners from taking advantage of historically low interest rates.  more...

10 real estate markets poised to outperform in 2012

By Inman News, Monday, January 30, 2012.
<a href="http://www.shutterstock.com/gallery-681547p1.html">Metro image</a> via Shutterstock.com.

Inman News, in a report released today, highlights 10 metro areas that data suggest are set to outshine many other markets in real estate performance this year.

The markets, which stretch from New York to Texas and include metros with populations above 150,000, were selected and ranked based on a range of demographic, economic and real estate market data, including real estate sales volume and median sales price appreciation.  more...

Park City, Utah, ski mansion for (just) under $50M

By Curbed.com, Monday, January 30, 2012.

Jon Huntsman, the Utah governor turned ambassador to China turned almost presidential candidate, is -- apologies to Creedence Clearwater Revival -- a fortunate son. His father, businessman Jon Huntsman Sr., is a billionaire and a profoundly generous philanthropist who has given more than $1 billion in donations over his lifetime.  more...

Sellers: Don't overdo it on home improvements

By Dian Hymer, Monday, January 30, 2012.
<a href="http://www.shutterstock.com/gallery-93178p1.html">Painting image</a> via Shutterstock.com.

Homeowners who are thinking about selling this year should be aware of what today's buyers are looking for in a home. It will affect what you should do to get your home ready for sale, and how you should price it.

A survey by the National Association of Realtors in 2011 found that buyers favor walkable neighborhoods that are close to shops, restaurants and local businesses over neighborhoods that require more driving between home, work and recreation.  more...

6 tips for a successful loan mod Premium Content

By Jack Guttentag, Monday, January 30, 2012.
<a href="http://www.shutterstock.com/gallery-100760p1.html">Loan modification sign image</a> via Shutterstock.com.

Millions of mortgage borrowers who can no longer afford their mortgage payments but can afford a lower payment can avoid foreclosure by getting a modification of their loan contract. While the path to a modification remains torturous, it is not quite as bad as when I wrote addressed the issue in a 2009 column.

Are you unqualified?

It is not possible for borrowers acting on their own to determine whether they qualify for a modification because they don't have access to all the criteria. Some is kept under wraps by loan servicers. However, borrowers can determine that they are not qualified for a government-supported modification by accessing a questionnaire provided by the U.S. Treasury Department.  more...

Give real estate listings global exposure Premium Content

By Bernice Ross, Monday, January 30, 2012.
<a href="http://www.shutterstock.com/gallery-74301p1.html">Global house image</a> via Shutterstock.com.

The global real estate market is experiencing explosive growth. Even if you do not work directly with global clients, you can still capitalize on global marketing to convert more listing appointments into signed listings.

While sites such as Immobel.com and Proxio are among those that allow you to translate your listings into multiple languages so you can reach global clients in their own languages, there are a number of other important ways you can expand your global reach to convert more listings.

   more...

Top 10 real estate websites in December

By Inman News, Monday, January 30, 2012.
<a href="http://www.shutterstock.com/gallery-619591p1.html">Top 10 image</a> via Shutterstock.com.

For the sixth month in a row, Yahoo Real Estate was the most popular real estate-related website in December, according to the latest rankings from Web metrics firm Experian Hitwise.

Zillow once again took the No. 2 spot on the list, after dropping to third place in November, and Realtor.com dipped to the No. 3 spot. Yahoo Real Estate gained considerable ground in December, capturing 8.27 percent of visits to the real estate category, compared to 7.02 percent the month before.  more...

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