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 Chris Ly  Wednesday, December 9th, 2009 Will 2010 be a year of recovery or double-dip recession? What’s on the horizon that may change the way you do business next year? Here are the developments and personalities we’ll be watching.
1. FHA Under New Command
When the FHA announced in late September that it was hiring a chief risk officer—for the first time in the agency’s 74-year history—it was taking preventive action. The agency had seen the market share of FHA-insured mortgages grow to almost 40 percent from about 4 percent four years ago, and its new chief, David Stevens, was not taking any chances with financial safety. When the agency’s capital-to-insurance ratio had dipped below 2 percent in one of its reserve accounts, Stevens—a veteran mortgage and real estate executive who has held key posts at Wells Fargo, Freddie Mac, and Long & Foster—immediately took steps to assess and manage FHA’s risk. The government insurer hasn’t had a major technology upgrade or staff increase in more than a decade, yet demand for the FHA’s stabilizing presence continues to grow. Can Stevens meet the demand without jeopardizing safety and soundness? Given the no-nonsense steps he’s taken to shore up his agency’s credit position, the answer appears to be yes.
Continue reading: 10 to Watch in 2010
Charles McMillan Tuesday, October 27th, 2009
If you’re like most REALTORS®, you put a great deal of thought and effort into your marketing materials, including advertisements, signs and business cards. You want to make every dollar count—but how much consideration do you give to the safety afforded by these communications? How much information are you giving the public that many [...]
Caylyn Brown Monday, September 21st, 2009
The National Association of REALTORS® is calling upon its 1.2 million members to urge Congress to extend the successful homebuyer tax credit into next year.
Since its inception earlier this year, the $8,000 first-time homebuyer tax credit has brought 1.2 million new buyers into the market—350,000 of whom would not have purchased a home without the credit, according to NAR. The credit is due to expire November 30.
“Now is the time for Congress to keep this recovery going by extending the tax credit through 2010 and making it available to more homebuyers. We have all seen how the credit has been a spur to bring homebuyers into the market, and have seen the beginnings of a real recovery in the housing market. Housing has always led this nation out of economic downturns, and can do so again,” said NAR President Charles McMillan.
Write Congress Now
Continue reading: Congress Urged to Extend Tax Credit
Charles McMillan Wednesday, September 16th, 2009
Consider these tips in preparing or updating the information you use to get business:
- All of your marketing materials should be polished and professional. Don’t use alluring
or provocative photography in advertising, on the Web or on your business cards. There
are many documented cases of criminals actually circling photographs of their would-be
victims in newspaper advertisements. These victims were targeted because of their appearance
in the photograph.
- Limit the amount of personal information you share. Don’t use your full name with middle
name or initial. Use your office address rather than your home address—or list no address
at all. Giving out too much of the wrong information can make you a target.
- Concentrate on your professional proficiency rather than personal information in newspapers,
resumes and business cards.
- Be careful how much personal information you give verbally as well. Getting to know
your client does not need to include personal information about your children, where you
live and who you live with.
- All agents in your office should use only their first initial and last name on their “For Sale”
signs to conceal gender and prevent anyone other than a personal acquaintance or current
client asking for you by name.
Continue reading: Protect Yourself with Smart Marketing Materials
Caylyn Brown Thursday, September 10th, 2009
A new study says that homes located in more walkable neighborhoods command a price premium over similar homes in less walkable areas.
The study, “Walking the Walk: How Walkability Raises Home Values in U.S. Cities” was commissioned by CEOs for Cities and conducted by Joe Cortright using data from Walk Score and ZipRealty.
Key [...]
Caylyn Brown Monday, August 31st, 2009
Nearly one-third of all existing homes sold recently were either short sales or foreclosures, according to National Association of REALTORS® data. To help practitioners meet the needs of home buyers and sellers who need these services, NAR has launched a new Short Sales and Foreclosure Certification Program (SFR).
“Foreclosures and short sales can offer opportunities for home buyers, but it’s extremely important to have the help of a real estate professional for these kinds of purchases,” says NAR President Charles McMillan. “This new certification will help them serve a growing need.”
The SFR certification program is offered by the Real Estate Buyer’s Agent Council of NAR. The program includes training on how to manage short sale, foreclosure, and real-estate owned transactions, and provides resources to help practitioners stay current on national and state-specific information as the market for these distressed properties evolves.
Continue reading: NAR Launches Short Sales Certification
Caylyn Brown Friday, August 21st, 2009
Carolyn Ballou from the Department of Consumer Affairs spoke to Public Issues Forum this morning about the “Inquire Before You Hire” program. REALTORS® make many referrals to clients, for all sorts of services. And it is important for a REALTOR® to verify the individual they are sending their client to have the appropriate license. [...]
Charles McMillan Monday, July 13th, 2009
To: All REALTORS®
From: Charles McMillan, 2009 NAR President
Re: Reaching Consumers in New Ways
Dear Fellow REALTOR®,
I am writing today with two exciting updates on NAR’s efforts to reach out to more consumers and bring them back into the market.
First, NAR’s real estate show, Real Estate Today, has been steadily increasing its local affiliates across the country. On Saturday, July 11, the show began airing in the number one market in the country – New York City – on 77 WABC AM. This is an enormous achievement, and I encourage all REALTORS® in the area to tune in between 4 and 6 p.m. EDT every Saturday to hear the show. Of course, everyone can hear the show anytime online at www.RETRadio.com.
Continue reading: NAR is Reaching Consumers in New Ways
Caylyn Brown Friday, July 10th, 2009
Yesterday, the California Association of REALTORS® reported the California Department of Real Estate (DRE) clarified the law that required DRE license numbers on business cards and all other solicitation materials intended to be the first point of contact with consumers.
Under the new Section 2773 regulation adopted by the DRE, the solicitation materials that must contain the license identification number include the following items:
- Business Cards
- Stationery
- Websites owned, controlled, and or maintained by the soliciting real estate license
- Promotional and advertising flyers, brochures, email and regular mail, leaflets, and any other marketing or promotional materials designed to solicit the creation of a professional relationship between the licensee and a consumer, or intended to induce a consumer to contact the licensee about any licensed services
Continue reading: DRE License Number Requirement Clarifications
Peyman Aleagha Wednesday, July 1st, 2009
We all know that location is arguably the most important aspect of real estate. You won’t be buying a home where you can’t get to work, school or the other things important to you and your family. So, if location is so important, then it is only logical to assume that mapping, and lots of it, is going to be a valuable and important feature of your site.
Of course, we do want to use maps in our IDX results displays. Seeing the location of a home in relation to area sites, businesses, schools, and other important locations is critical. It would be hard to have too many map choices on a successful real estate site. The IDX mapping would of course show the homes that come up in the searches. The ability to zoom in and out to orient better is also a big advantage. But, are there other uses for maps on your site that your visitors would appreciate? There are, and they revolve around specialized mapping.
Continue reading: IDX – If Real Estate is Location, Location, Location – Then Map, Map, Map
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