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MRIS to offer suite of mobile apps

By Inman News, Tuesday, July 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=21127612">Binary data</a> image via Shutterstock.

A major mid-Atlantic multiple listing service, Metropolitan Regional Information Systems Inc. (MRIS), has partnered with mobile applications company Smarter Agent to develop a suite of mobile apps for its more than 43,000 members, the MLS announced Monday.

MRIS' Agent Pro App, HDB Mobile, will be available for the iPhone, Blackberry, Android and iPad platforms this fall. MRIS members will be able to log in to the location-based app to view full listing data, search all listing statuses and eventually edit listing information from their mobile device, MRIS said. The MLS also plans to add other features, such as push notifications, in later versions of the app.  more...

Home prices continue rebound in May

By Inman News, Tuesday, July 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=45868669">Arrow swooping</a> image via Shutterstock.

Home prices continued to see a spring bounce in May, but fell slightly compared to the same month a year ago, according to the latest S&P/Case-Shiller Home Price Indices released today.

After seven straight months of declines, home prices rose on a monthly basis in April and continued to rise in May with all 20 major markets tracked by the S&P/Case-Shiller 20-City Composite Index seeing increases between April and May. Overall, the index rose 2.2 percent month to month in May, but fell 0.7 percent from May 2011.  more...

Trulia going direct to brokers for listings

By Inman News, Tuesday, July 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=79785331">Fiber optic filaments</a> image via Shutterstock.

Trulia is joining rival Zillow in offering incentives to brokerages that provide the real estate search portal with listings, including unlimited photos and property descriptions, and prominent identification of broker and agent contact information.

The Trulia Broker Program will deliver weekly reports to participating brokers to help them track the number of leads their  listings generate on the site, and through distribution on Trulia's mobile apps.  more...

3 ways to fight the urge to cheat

By Tara-Nicholle Nelson, Tuesday, July 31, 2012.
Book cover image courtesy of <a href="http://www.harpercollins.com/book/index.aspx?isbn=9780062183590" target=blank>HarperCollins Publishers</a>.

Book Review
Title: "The Honest Truth About Dishonesty: How We Lie to Everyone -- Especially Ourselves"
Author: Dan Ariely
Publisher: HarperCollins, 2012: 304 pages; $26.99

Many people experience real estate transactions as riddled with suspicions of dishonesty. Is your home's seller being honest and forthcoming about any "issues" the house has? What about your agent? Is she honestly representing how good a deal this property is? Are the comparable homes she presents you the most representative, or are they skewed?  more...

Beware of construction loan in form of credit card

By Benny Kass, Tuesday, July 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=66497446">Danger</a> image via Shutterstock.

DEAR BENNY: I purchased land about one year ago with plans to build a duplex. I am finding it difficult to obtain a loan. I recently found a company that provides loans to other companies in the form of a credit card. This would entail me opening a limited liability company (LLC) and applying for a company loan. Should I open the LLC myself or pay an attorney? Also, do you see any drawbacks to opening a line of credit under a company name? --Adrienne

DEAR ADRIENNE: I always ask myself, "What's the catch?" Yes, you can create a limited liability company, and then get the credit card offered by this company. But if you are currently unable to get a loan to build your duplex, why would this company be so willing to hand over a credit card to you?  more...

Housing 'a bright spot' amid tepid economic growth

By Inman News, Tuesday, July 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=25775134">Sunny outlook</a> image via Shutterstock.

With weak consumer spending and a lackluster job market, the economy is likely to grow at a slower rate this year than previously forecast, according to the latest monthly economic outlook from Fannie Mae's Economic & Strategic Research Group.

Fannie Mae economists have cut their projection for 2012 gross domestic product (GDP) growth to 2 percent, down from 2.2 percent in a forecast issued last month. GDP grew 1.9 percent in the first quarter and is estimated to have grown 1.8 percent in the second quarter.  more...

Shortcomings of foreclosure relief programs are legion Premium Content

By Ken Harney, Tuesday, July 31, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=38006539">Rake</a> image via Shutterstock.

Almost nobody reads reports that start with the gobbledygook word "SIGTARP" and run hundreds of pages. Virtually no newspapers give them coverage, and you can totally forget the evening TV news.

Which is a shame because the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) assembles more information on how well the federal homeowner relief and foreclosure prevention "stimulus" programs -- the HAMPs, HARPs, HAFAs and other efforts run by the Obama administration -- are performing than any other entity in government.  more...

Refi plan would target 8 million underwater borrowers

By Inman News, Monday, July 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=73292170">'Underwater' homes</a> image via Shutterstock.

Treasury Secretary Timothy Geithner says he likes the design of a plan proposed by an Oregon senator to establish a temporary government-backed trust that would allow about 8 million underwater borrowers to refinance at a lower interest rate at no cost to taxpayers.

The plan, proposed by Sen. Jeff Merkley, D-Ore., would be available to borrowers current on their payments who meet basic underwriting criteria -- regardless of whether their mortgages are currently guaranteed by the federal government.  more...

Century 21 TV ads airing during Olympics

By Inman News, Monday, July 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=51970060">U.S. soccer</a> image via Shutterstock.

Real estate franchisor Century 21 Real Estate LLC is taking its "Smarter, Bolder, Faster" TV ad campaign to the 2012 Summer Olympics.

The Realogy Corp. subsidiary says the TV commercials -- part of a high-profile campaign launched last year -- will air more than 100 times during NBC Sports Network and MSNBC broadcasts. The Olympics, held in London, kicked off Friday and run through Sunday, Aug. 12.  more...

Stark, desert prefab: $3M

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

The Los Angeles-based architecture and building firm Marmol Radziner might be critically acclaimed, but the company's creations have not always been well received by the market. One of their prefab homes, in Desert Hot Springs, Calif., went up for sale in 2008 for $1.85 million, but sustained a series of huge price chops before finally selling last year for $600,000.  more...

Tips for scoring bargain on reverse mortgage

By Jack Guttentag, Monday, July 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=61747573">Magnifying glass</a> image via Shutterstock.

As noted in the previous articles in this series, seniors now have useful options under the Home Equity Conversion Mortgage (HECM) program that they didn't have before. While having options is good, it also makes HECM shopping a greater challenge. This article is a guide for seniors who want to shop for the best deal on a HECM.

HECMs are overpriced

I have been doing some informal HECM shopping recently, and found that HECMs are grossly overpriced! In early June, fixed-rate HECMs with rates from 4.25 percent to 5.06 percent could be sold in the secondary market at a premium of 7.625 percent.  more...

5 questions every buyer should ask their agent

By Tara-Nicholle Nelson, Monday, July 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=88827601">Counting pennies</a> image via Shutterstock.

In this day and age, one can easily get educated about homebuying online, on your couch and in your pajamas -- and while watching "House Hunters International," no less! Yet there are still nuances and insights on the process that are best communicated one to one, from a human professional who has been through this process dozens or hundreds of times. Accordingly, first-time buyers are frequently given the sound advice to vigorously interview agents before hiring them, and lists of interview questions are all over the Web.

That said, in the Profile of Home Buyers and Sellers recently released by the National Association of Realtors, 81 percent of first-time buyers said the benefit of having an agent was that the agent helped get them educated about the buying process, and more than half of all buyers said their agent pointed out features or faults of a property that they would not otherwise have noticed.  more...

Sell now or hold out for a higher price?

By Dian Hymer, Monday, July 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=87073928">Sell button</a> image via Shutterstock.

Recent news suggests that the housing market might be moving in the right direction. According to the National Association of Realtors (NAR), existing-home sales rose 3.4 percent in April compared to March and were 10 percent higher than a year ago.

The inventory of homes for sale increased 9.5 percent at the end of April to a 6.6-month supply, up from a 6.2-month supply in March. A year ago, there was a 9.1-month supply of inventory solidly in a buyer's market range. Nationally, homes listed for sale in April were 20.6 percent below a year ago, approaching a balanced market that gives neither buyer nor seller a decided advantage.  more...

4 opportunities agents should cash in on Premium Content

By Bernice Ross, Monday, July 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=73974577">Sack of money</a> image via Shutterstock.

At the recent AFIRE (Awesome Females in Real Estate) conference, Deborah Falcone, real estate director for the Wall Street Journal, shared the Journal's latest research on the key trends currently shaping today's real estate market as well as ways brokers and agents can capitalize on these trends to grow their business.

1. Investors move the market
According to the National Association of Realtors, the number of homes purchased in 2011 by investors jumped 65 percent to 1.2 million. Investors represented 27 percent of all home sales.  more...

Get organized and avert moving meltdowns

By Inman News, Monday, July 30, 2012.
<a href="http://www.shutterstock.com/pic.mhtml?id=102503393">Family moving</a> image via Shutterstock.

Whether you are going across town or across the country, moving an entire household can bring on meltdowns, even among the best of us. But by beginning the planning process as soon as you know you will be moving, you can minimize stress and increase the likelihood that everything will go smoothly on moving day and afterward. Read on for 10 sanity-saving ways to get ready for the big move.

The best thing you can do to prepare for any move is to let go of excess belongings. Get motivated to clear clutter by viewing this as an opportunity to streamline your belongings and let go of stuff you have been wishing you could get rid of. Now is your chance!   more...

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