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Sell your sellers on staging Premium Content

By Bernice Ross, Thursday, May 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=23936902">Staged home</a> image via Shutterstock.

No matter where you do business, there's a common thread that seems to be emerging from the multiple listing services almost everywhere: Unless a house is staged, the probability is that it won't sell.

The research on properties that are staged vs. those that are not staged is clear. Staged properties generally sell more quickly and for more money than those that are not staged. The issue is how to persuade sellers to stage their homes, especially if it's going to cost thousands of dollars to do it effectively.  more...

4 considerations when making offer on 'overpriced' listing

By Tara-Nicholle Nelson, Thursday, May 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=28076917" target=blank>House for sale</a> image via Shutterstock.

Q: I am currently in the market for a new home. I have found a property that I really like; however, it is priced $200,000 over the tax assessment. It is in the country, so there really aren't any comps that I can find near the property. The only thing I can really find is that the house near it sold for close to its assessed price last year.

Why would an agent even list a house with a price above the assessed value? In general, would a lender even finance the property for that much over the assessment? --Lesa  more...

Which upfront rental fees are illegal?

By Janet Portman, Thursday, May 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=30197149" target=blank>For-rent</a> image via Shutterstock.

Q: We've just moved into an apartment complex that charged us a nonrefundable "initiation fee" of $200, plus a security deposit (the maximum allowed by law). We knew about this fee, but it seemed cheesy for the landlord to be charging us for the routine duty of processing a new tenant. Is there any legal way to object to this fee? --Scot S.

A: Your question is quite timely. In November 2011, a federal district court judge in Boston faced a very similar question (at issue was an "amenity fee" that covered use of the pool, gym and grill). The judge decided that, under Massachusetts law, the fee was illegal. (Hermida v. Archstone, et al., No. 10-12083-WGY, D. Ct. Mass. 2011.) That's going to result in big refunds to Massachusetts tenants: According to the National Multi Housing Council, Archstone is the seventh-largest landlord in the nation, with close to 74,000 units spread across 12 states.  more...

RealtyTrac: Short sales at 3-year high

By Inman News, Thursday, May 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=60939814">Foreclosure dartboard</a> image via Shutterstock.

A three-year high in pre-foreclosure sales, typically short sales, helped push the nation's overall share of distressed sales up to 26 percent in the first quarter, according to a report from foreclosure data firm RealtyTrac released today.

A total of 233,299 properties sold in the first quarter were either in some stage of foreclosure, meaning they were subject to a default notice or scheduled auction, or had completed the foreclosure process and become bank-owned before being sold.  more...

Mortgage rates still looking for bottom Premium Content

By Inman News, Thursday, May 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=90741200">Euro symbol</a> image via Shutterstock.

Mortgage rates sank to new lows this week as investors contemplated the prospect of bank runs in Europe and disappointing U.S. job growth.

Rates on 30-year fixed-rate mortgages averaged 3.75 percent with an average 0.8 point for the week ending May 31, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey. That's down from 3.78 percent last week and 4.55 percent a year ago, and a new record low in Freddie Mac records dating to 1971.  more...

'Inman Innovators' through the years

By Inman News, Thursday, May 31, 2012.

Looking back at the dozens of companies, individuals, websites and tools that have won Inman News Innovator Awards over the years drives home how much has changed in the real estate industry since the debut of the awards nearly 15 years ago.

While many of the innovators recognized over the years are still forces to be reckoned with, others are long gone, or have struggled to live up to their initial promise.  more...

Nominate the 2012 Real Estate Innovators

By Inman News, Thursday, May 31, 2012.



Inman News is pleased to announce that the nominations process for the 2012 Inman News Innovator Awards opens today.  more...

Portland, Ore., market is warming up

By Inman News, Thursday, May 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=54395791">Portland, Ore.</a>, image via Shutterstock.

Dropping inventory, stabilizing prices and a steady availability of distressed properties demonstrate that the metro Portland, Ore., area housing market is stabilizing, according to three leading real estate professionals who shared their perspectives with Inman News.

In Portland, lower-priced homes in good condition, especially those under $150,000, are going fast, said Portland-based brokers Brian Houston and Mike Rohrig. Houston, a broker with Coldwell Banker Seal Properties in Portland, noted that investors and flippers are prominent homebuyers at the moment.  more...

Zillow offering free agent websites

By Inman News, Wednesday, May 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=9623992">Binary data</a> image via Shutterstock.

Real estate information portal Zillow will help real estate agents build their own WordPress-powered websites with optional integration of Internet Data Exchange (IDX) listing feeds from agents' multiple listing services in available markets.

Zillow is offering customized agent websites to subscribers to its "Premier Agent" advertising program at no charge. According to its most recent quarterly report to investors, Zillow had 18,616 Premier Agent subscribers at the end up March, up 74 percent from a year ago.  more...

Facebook has replaced happy hour Premium Content

By Alisha Alway Braatz, Wednesday, May 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=541283">Data cocktail</a> image via Shutterstock.

This week I've had the pleasure of vacationing in my old hometown.

It's rather nice browsing around downtown without thinking I might be missed at work, taking the family to the museum in the middle of "open house" hours, and running into old friends and colleagues.

The experience of seeing familiar faces brought on a fun social experiment -- one I think any working Realtor can undertake -- and a conclusion about Facebook.  more...

Vacation rentals a tough sell for some communities

By Tom Kelly, Wednesday, May 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=35088676" target=blank>House for rent</a> image via Shutterstock.

We often hear that "real estate is local," and that there is little use in dreading or celebrating national home-sale prices and activity. For example, why should sellers fear their ability to sell when their neighborhood is thriving and agents are receiving multiple offers on specific properties, even though national numbers aren't so rosy?

Real estate is also local when it comes to use, regulation, standards and practices. Customs that are readily accepted in some areas are often vehemently opposed in others.  more...

Harness the power of big data

By Gahlord Dewald, Wednesday, May 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=21127612">Binary data</a> image via Shutterstock.

Big data. The cloud. These are two buzzwords that have been gaining momentum and just won't go away.

You can stick your fingers in your ears if you want to. But as soon as you take them out you'll hear someone talking about big data in the cloud.  more...

Most buyers open to REOs

By Inman News, Wednesday, May 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=20694781">REO property</a> image via Shutterstock.

Nearly two-thirds (65 percent) of potential homebuyers surveyed by Realtor.com this month say they are likely to buy a home that's been through the foreclosure process, compared with 25 percent in October 2009.

The vast majority of those looking at real estate owned (REO) properties planned to live in them -- only 6.9 percent of potential homebuyers said they were looking to buy a foreclosure as an investment, down from 13.2 percent in October.  more...

Pros' guide to deck refinishing

By Bill and Kevin Burnett, Wednesday, May 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=14985544" target=blank>Wood deck</a> image via Shutterstock.

Q: It's time to refinish my sun-pounded deck, and I was wondering whether you'd recommend sanding it down again. I did so about three years ago, and although I love the freshly finished look, I'm not sure how many times I should sand the wood.

So I'm hoping that I can just seal it well and be done with it. The last time, I used a Cabot product called Pacific Coast Redwood-Clear. I liked it, but it's worn down now.  more...

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