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Yahoo Real Estate says YAHOO over Realtor.com - 09/26/10 05:48 PM
How far the mighty are slipping. Yahoo became the most popular real estate site in August. They displaced Realtor.com from their number 1 position according to data collected by Web metrics firm Experian Hitwise. I have no idea who Experian Hitwise might be. I will do a Google search on them. These numbers are interesting, I think. Yahoo moved into second place in May when it captured an estimated 4.3% of traffic in the real estate category compared to Realtor.com's 6.2%. In August it was 5.9% Yahoo and Realtor.com had 5.74% traffic. It looks like this is going to be a (9 comments)
Are you a bounty hunter for Fannie Mae? - 09/24/10 04:35 PM
Did you know that Fannie is paying buyer's agents a bonus if they sell a Fannie REO. They must use it as their primary residence, place the offer after September 23 and close by December 31, 2010. The bonus being paid is $1,500. Should the buyer's agent disclose this bonus to the buyer? I believe that they have to disclose this to the buyer. I have dealt with REO listing agents. They are not always the easiest to reach. They and Freddie now have a new mandate that all their REO's will be offered to owner occupants first and given a 15 day window to bid. Investors (5 comments)
Fannie Mae survey says "buy" - 09/19/10 10:07 AM
Fannie Mae did a survey that showed 7 out of 10 people indicated that it is a good time to buy. This poll took place in June and July of this year. That's terrific news but where are they? It seems that they are not following up and buying homes. I believe part of the problem is that the public is perceiving their house as an investment that will show immediate returns. Prior to this century that was not what we thought about our homes. They were long term "investments". They were where we raised our family. We paid down or (4 comments)
Freddie/Fannie, ugh - 09/17/10 06:31 PM
Are all of you aware that Fannie/Freddie properties must be on the market for 15 days before an investor can place an offer? This is because they want owner occupied buyers to have the first opportunity to buy them. 191,000 homes as of 6/30/2010 are owned by these two entities. 191,000 properties and growing every day. Did you know that Fannie/Freddie wrote off $13,000,000,000 (13 billion dollars) in just the second quarter for carrying costs. My calculator can't divide those kind of numbers to get a cost per property to figure out the daily loss. So I asked you, would you (2 comments)
Where have all the Realtors gone? - 09/17/10 05:44 PM
Did you know that Realtor membership soared from less than a million in 2004 to 1.4 million in 2006. Real estate licensees were 1.6 million in 2000. They reached a high of 2.5 million in 2008. Realtors made up about 60% of all licensees. I didn't know that. I would have thought the percentage would have been higher. In 2009, 26% failed to renew their licenses. 645,899 real estate licenses gone. Incidentally, this information comes from the Association of Real Estate Law Officials. I didn't know about them until a Google searched revealed them. NAR membership has fallen 19.1% during the (6 comments)
Low appraisal defenses - 09/13/10 02:10 PM
You've worked hard. You got the listing and worked to get it priced right. You market it and it sells. The home inspection reveals no real problems and the seller agrees to fix the little naggy issues for the buyer. Yeah!! Coming down the home stretch. You mentally check this one off from UAG to sold. The appraisal comes back lower than the sales price. Crap! Now what? 1. Get a copy of the appraisal. 2. Have it reviewed by a licensed and certified appraiser. You may have to pay some nominal fee or perhaps you can barter. I have found (2 comments)
Mandatory PAC Assessments? - 09/13/10 08:00 AM
California has instituted a mandatory $49 PAC fee for every Realtor. This is not an optional fee although you can direct it to two different "funds". You can direct it to the CAR PAC or the general fund. CAR PAC's purpose is provide funding support for candidates. The general fund is education and mobilizing members on issues that are important to the real estate community. In Mass think "transfer tax". The Realtors organization has over 1 million members. The largest such organization in the United States. We can be a bigger political force than we already are. I support what California is (8 comments)
NAR Credit Union - 09/06/10 04:53 PM
Did you know that NAR offers a credit union for Realtors? No you say. I guess that is what most Realtors are saying. The virtual credit union has less than 1% of NAR members. 5,552 members out of a million plus Realtors. One out of every 184 NAR members. Why do you think this is happening? I don't know about you but do you know what the benefits of belonging to this credit union might be? I have no idea. NAR has kept this credit union a secret. Why are they not touting the benefits? Did I mention that the Realtors (7 comments)
Fannie Mae and foreclosures - 09/04/10 07:36 AM
Fannie getting tough with its loan servicers. She is setting time limits for beginning of the foreclosure process to the foreclosure sale. Apparently the servicer's are dragging their feet. They will now face compensatory fees for not meeting timeliness. All states have different timeliness. You go from a low of 60 days in Georgia, Michigan, etc. to a high of 300 days in Vermont, Maine, New York, etc. It is the state laws that determine the timeline that Fannie will enforce. The servicers will not be punished if there are court delays, etc. Interestingly enough the fines are based on the (6 comments)
Pending home sales in July - 09/03/10 07:48 AM
There up! Could this be the long waited change? The interest rates dropping have created an incredible jump in the affordability index. I believe that there is a pent up demand. We just need to hear good news for the would be buyers to feel good about their decision to buy a home. It is a long trek for those who bought at the peak. It will take years before they recover their lost equity. Home ownership should not be look at as some short term investment. It is a place for you to live and raise a family. It is (5 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.