California Real Estate Musings...

$10,000 new construction tax credit in California on hold...

RealEstate.com — Mon, 06 Jul 2009 17:11:57 -0500

As of July 3, 2009, the franchise tax board in CA is no longer accepting new home credit applications. There has been discussion to expand this program and it has been a major factor in helping the real estate industry rebound in recent months. Factor in the $8000 federal tax credit for 1st time buyers and it's easy to see why buyers are jumping off the fence.

As shown in the numbers below, they have received over $100 million in new home credit applications and more than 12,000 applications. This means the $100 million originally allocated for the program has been used up. Any additional applications will be subject to the availability of remaining credits. The state will continue to report certificates issued on a weekly basis until the full $100 million has been allocated and they expect to complete processing all certificates in August and notifications in response to all applications received, indicating the amount of credit allocated or denied.

This tax credit is available for qualified buyers who on or after March 1, 2009, and before March 1, 2010, purchase a qualified principal residence that has never been occupied. The buyer must reside in the new home for a minimum of two years immediately following the purchase date.

California began accepting applications for allocation of credit by fax only on March 1, 2009. The state began processing the applications on a first-come, first-served basis, on May 1, 2009.

Certificates issued for New Home Credit through 07/01/09:

As of Total certificates issued:Total credit allocated:Remaining credit available:

5/13/09	331	$ 3,246,532	$ 96,753,468
5/20/09	1,023	$ 9,942,884	$ 90,057,116
5/27/09	1,749	$ 16,699,924	$ 83,300,076
6/3/09	2,502	$ 23,822,657	$ 76,177,343
6/10/09	3,219	$ 30,465,953	$ 69,534,047
6/17/09	3,943	$ 36,857,428	$ 63,142,572
6/24/09	4,808	$ 44,947,157	$ 55,052,843
7/1/09	5,503	$ 51,442,798	$ 48,557,202

The amounts below reflect applications received, which include both processed and unprocessed applications.

Applications for New Home Credit received through 07/02/09:

As ofTotal Applications received:Total Credit claimed:

3/4/09	173	$ 1,715,826
3/11/09	711	$ 6,987,515
3/18/09	1,188	$ 11,599,825
3/25/09	1,710	$ 16,647,498
4/1/09	2,624	$ 25,578,709
4/8/09	3,135	$ 30,559,124
4/15/09	3,589	$ 34,939,035
4/22/09	4,199	$ 40,879,872
4/29/09	4,880	$ 47,353,795
5/6/09	5,668	$ 54,928,875
5/13/09	6,162	$ 59,579,591
5/20/09	6,816	$ 65,749,498
5/27/09	7,517	$ 72,511,587
6/3/09	8,522	$ 82,548,424
6/10/09	9,145	$ 88,252,190
6/17/09	9,848	$ 94,735,430
6/24/09	10,633	$ 102,638,616
6/28/09	11,162
6/29/09	11,316
6/30/09	11,710
7/1/09	11,925
7/2/09	12,138

This reflects the total amount of credit reported on applications received as of the date indicated. This amount has not yet been verified and may include duplicate, incomplete, and invalid applications. This amount is provided for informational purposes and does not reflect the actual amount to be allocated. Keep in mind that all applications will be processed on a first-come, first-served basis, based on the date received by fax only.

California allows qualified new home buyers a total tax credit amount equal to either five percent of the purchase price or $10,000, whichever is less. Taxpayers must apply the total tax credit in equal amounts over three successive taxable years (maximum of $3,333 per year) beginning with the taxable year (2009 or 2010) in which the new home is purchased.

RealEstate.com, REALTORS expansion in California continues...New Agents join Team...

RealEstate.com — Wed, 24 Jun 2009 11:14:55 -0500

In the midst of a tough real estate market RealEstate.com, REALTORS continues to grow and add top notch agents and brokers to it's team. With nearly 300 agents in California already on board, we are continuing to look for great agents in Orange County, Riverside, Palm Springs, Los Angeles, Ventura, Fresno, Sacramento, and the Bay Area.

Recent additions to the team include:

Richelle Jacobs, a former Help-U-Sell Broker/Owner
Jim & Theresa DeBruyn, formerly with RE/MAX
Tony Molina, an independent broker in San Diego
Bipin Desai, LA based broker
Royall Forcell, LA based agent
Bill Keck, LA based agent
Orlando McKee, LA based agent
Greg Merritt, LA based agent
Frank Pamies, LA based agent

Since our inception RealEstate.com, REALTORS has strived to affiliate with knowledgable and experienced real estate professionals that understand the importance of providing the highest level of service in the industry. Our innovative lead system generates opportunity for our agents that is not found at other companies, with live customers sent to our agents cell phone in real time, after being pre-screened through our state of the art call center. We respond to every customer in minutes, not hours or days, and then connect them with one of local agents.

While this lead system is important, we like to say agents come for the leads but stay for the leadership! Our California management team has a combined 50 plus years in real estate and provides the highest level of training, support, and knowledge so our agents can focus on servicing their customers. We are always looking to connect with great agents and the main reason we have grown so quickly is due to our existing agents referring their friends and collegues from their previous company. Find out what all the buzz is about and contact our executive recruiting team by visiting:

http://www.realestate.com/recruitment/agent.aspx

RealEstate.com, REALTORS looking to grow in SoCal...

RealEstate.com — Sat, 20 Jun 2009 11:35:07 -0500

Hi all. As we are growing fast and have live buyer and seller leads, I am in need of adding a few experienced agents in our S. California market. Specifically we need coverage for the high desert, Palm Springs, Redlands, Highland, San Bernardino, Riverside, Orange County and LA. Check out: www.join-realestate.com for more info or contact me for a confidential interview. Thank you!

RealEstate.com, REALTORS looking for top agents in the Inland Empire...

RealEstate.com — Sat, 20 Jun 2009 11:30:05 -0500

Hi all. As we are growing fast and have live buyer and seller leads, I am in need of adding a few experienced agents in the Inland Empire. Specifically we need coverage for the high desert, Palm Springs, Redlands, Highland, San Bernardino and parts or Riverside. Check out: www.join-realestate.com for more info or contact me for a confidential interview. Thank you!

RealEstate.com Unveils New Website Featuring ‘Town Square SM' - a Community Social Network Connecting Homebuyers, Sellers and Real Estate Professionals

RealEstate.com — Wed, 10 Jun 2009 09:53:04 -0500

CHARLOTTE, NC, June 10, 2009 - Today RealEstate.com rolls out its all-new website, offering even faster, easier access to nearly three million homes for sale, as well as current home values, local resources and advice for homebuyers and sellers. At the heart of the website is Town Square SM, a real estate social network that creates an open dialogue between homebuyers, sellers and real estate professionals through blogs, forums, wikis, groups and more.

Driven by consumer feedback, the all-new RealEstate.com offers more direct access to the information homebuyers and sellers want, whether they are searching for a home or looking for advice. This includes a tighter integration between the website's search feature and hundreds of useful tips, tools, community guides and other information. Simply enter a phrase like "moving" and get a checklist on "choosing the right moving company," an article about "how to avoid moving scams" and more. As always, the website is seamlessly connected with RealEstate.com, REALTORS®, the company's full-service real estate brokerage, and its broker partners - so consumers can also get immediate live feedback from real-world professionals on specific listings.

Accessible at http://ts.realestate.com or via the RealEstate.com home page, Town Square SM brings the worlds of online and in-person real estate together in an interactive social community. By visiting Town Square SM, consumers can access expert insight from agents, share their experiences, learn about emerging real estate trends and search an A-to-Z encyclopedia about all-things-real estate. For real estate professionals, Town Square SM offers an opportunity to connect with interested homebuyers and sellers, network with other agents, share tips and best practices and blog about the latest real estate news and happenings in their area.

"Our mission has always been to immerse consumers in the data they need to make smart, well-informed real estate decisions, while also delivering expert guidance and personal support through our local brokers and agents," said Rick Finch, Vice President of Marketing, Product, and Operations. "The combination of our website, brokerage network and now Town Square SM offers a complete suite of resources for consumers to do this, creating a content-rich, highly intuitive experience for their individual buying and selling needs."

About RealEstate.com
RealEstate.com gives consumers a better way to buy and sell homes through a comprehensive suite of real estate services, tools and helpful advice. The site provides access to nearly 3 million homes for sale, 97 million home values and a unique deep-dive view into more than 22,000 cities reaching every metropolitan area in the U.S. RealEstate.com also features Town Square SM, an online community designed to facilitate an open dialogue between homebuyers, sellers, brokers, and local real estate professionals.

The company also operates five distinct business lines consisting of RealEstate.com, REALTORS®, an Internet-enabled real estate brokerage that operates in 20 markets with more than 1,300 sales agents; a Broker Network, a strategic lead generation program for real estate brokers that provides them with incremental, targeted, and high-quality leads; iNest, a lead generator that specializes in newly-constructed homes and offers consumers an exclusive cash bonus program; Domania, a provider of innovative customer acquisition and retention products for banks, mortgage lenders and REALTORS®; and also, a network of geo-targeted advertising opportunities throughout the RealEstate.com portal.

RealEstate.com is a division of LendingTree, LLC, a Tree.com, Inc. company (NASDAQ: TREE).

REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

RealEstate.com, REALTORS is looking....Are you?

RealEstate.com — Thu, 04 Jun 2009 12:55:34 -0500

Talk to Us About Our Great Career Opportunities for Agents

Training

We consider training one of our core tenets for success. Many agents have been in business for years, but few have seen our industry change as rapidly as it has in the last few years. Our training is designed to help our agents work with the savvy Internet consumer, how to work smarter, how use the current market to ultimately build a better, stronger personal business. Our training also is designed with a busy agent's schedule in mind. We combine recorded modules you can watch at any time from a computer with Internet access, to live class room training sessions with your market leader, to virtual classrooms with agents across the country. And you will be required to participate through group Q&A sessions or small breakout rooms monitored by our full-time national trainer. There's nothing quite like this in our industry.

Leadership

Our market leaders understand in today's economic market, the need to work more closely with agents to help them build their business and work with their clients. Teaching the latest listing presentation is meaningless to the agent trying to create business for themselves. Hands on mentoring from seasoned local leaders will provide the greatest return on the investment we make in our agents. Of course it's important to completely understand all items of a real estate contract, but our leaders help our agents maximize their opportunity to write contracts.

Business Building

Our business model has been built around our strength with Internet marketing and providing our agents quality leads from a variety of sources. In fact, most of our leads are provided by a warm transfer from our dedicated, multi-million dollar call center to our agents' cell phones. We understand if we provide business opportunities to our agents then it is reasonable to expect them to close on that business. Our website provides a variety of lead sources for consumers to get the information they need and then connect with an agent. Our multi-million dollar call center responds to within minutes and warm transfers that consumer directly to one of our agents in the area the consumer had question. Everything we do is focused on driving more business to our agents.

Our Agents are Talking!

"RealEstate.com, REALTORS® keeps agents busy with prospective clients from the first week. The lead system is very convenient and professional. I am on my 4th month with the company and I have 5 company generated contracts and counting for the month of April '09 as of the 17th!" - Desi Deswal, New York

"I had very little to nothing going on in my former real estate company. As soon as I started at RealEstate.com, REALTORS® the company generated Leads kept me busier than I have ever been before. The support and coaching are excellent and always there for you. The company does not "nickel and dime" you and so business expenses are much lower. Changing my real estate company to RealEstate.com, REALTORS® turned out to be an excellent career move. If you find yourself sitting in an office, get busy and out there with RealEstate.com. What do you have to lose?!" - Diana Weiss, Portland

For more information simply visit:

www.join-realestate.com or http://www.realestate.com/recruitment/agent.aspx

Nationwide Coverage Areas

Arizona
California
Colorado
Connecticut
Florida
Georgia
Illinois
Massachusetts

Nevada
New Hampshire
New Jersey
New York
North Carolina
Oregon
Pennsylvania
Rhode Island

South Carolina
Texas
Utah
Vermont
Virginia
Washington

RealEstate.com launches new version of site and adds social media platform...Town Square...

RealEstate.com — Thu, 04 Jun 2009 12:01:26 -0500

Today, RealEstate.com's Town Square opened up to the world. It has been under construction for a while within the virtual walls of our office, but today anyone and everyone can see it. In a nutshell, Town Square is where anyone, from consumers to agents to brokers to industry professionals (really, anyone) can come and talk about all things real estate. Talk about things that aren't specific to real estate but might be related. Or just to come and talk. Most people will come to the site and listen, or to be more accurate, to read. A post or a discussion or blog may cause a reader to have such a strong reaction, they will post an opinion, positive or negative and begin the discussion.

Included in Town Square are blogs, forums, media, and even groups. It's a great way to interact with consumers and other real estate professionals and we invite you to explore and participate. Already there is tons of informagtion, ideas, strategies, and lively discussion going on. This interactive forum allows for open communication and is another great example of how social media is becoming a critical part of our overall marketing and communication strategy. To access Town Square, simply visit www.RealEstate.com and click the Town Square tab. Welcome and enjoy!

$8000 First Timer Buyer Tax Credit now in play as downpayment option...

RealEstate.com — Sat, 30 May 2009 18:37:10 -0500

After much debate HUD has authorized the use of the $8000 first time buyer tax credit to be used as a downpayment, however there are a few ground rules. To qualify as a first time buyer you must not have owned a primary residence in the past 3 years. First, the credit can NOT be used to cover the 3.5% FHA loan down payment requirement. It can be used toward other closing costs. There are also loan limits of $90,000 for a single perosn and $170,000 if married. Additionally, the credit is claimed using IRS Form 5405.

HUD posted a letter to lenders instructing them on the program and released information via the HUD.gov website yesterday, May 29th. Please visit the following links for the letter to lenders, the press release issued May 29th by HUD, and an overview of $8000 First Time Buyer Tax Credit.

http://www.hud.gov/news/release.cfm?content=pr09-072.cfm

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/09-15ml.doc

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Memorial Day...

RealEstate.com — Fri, 22 May 2009 10:44:42 -0500

Did you know...

We celebrate Memorial Day as a day of remembrance for those who have died in our nation's service. In contrast, Veterans Day honors all who have served. 1.1 million Americans have died in all the nation's wars.

At Arlington National Cemetery, three unknown servicemen are buried at the Tomb of the Unknowns. Memorial Day is observed with the laying of a wreath at the Tomb, which is guarded by the U.S. Army 24 hours a day, 365 days a year.

The National Moment of Remembrance encourages all Americans to pause wherever they are at 3 p.m. local time on Memorial Day for a minute of silence to remember and honor those who have died in service to the nation.

RealEstate.com, REALTORS continues march toward growth, expansion & profitability...

RealEstate.com — Tue, 19 May 2009 10:35:44 -0500

RealEstate.com, Realtors is the rare brokerage that closed more deals and generated more commissions in the fourth quarter of 2008 than in the fourth quarter of 2007. The company says its closings
spiked 55 percent over the year as RealEstate.com embarked on an aggressive strategy of recruiting
agents and buying companies.

Launched in March 2006, RealEstate.com, Realtors now has 1,200 agents in 20 markets. It aims to continue that growth. "Our company is starting in one of the worst real estate economies in our lifetime," says Victor Vaca, national vice president of sales at RealEstate.com. To keep growing, RealEstate.com, a division of Charlotte-based Tree.com, has built a call center recruiting team, Vaca says. Our recruiters are calling agents to pitch the business model. A primary selling point: The leads generated by the popular
RealEstate.com site.

In March, it ranked 20th among Hitwise's list of the most popular real estate websites. Vaca's pitch: "Say you're doing 10 deals a year. Imagine doing all the deals you're doing now, and we can feed you another five to 10 transactions a year." To generate leads, Vaca says, RealEstate.com is spending "a ton" on search engine marketing and search engine optimization. A typical RE/MAX agent, Vaca says, might spend $40,000 to $60,000 a year to generate online leads, RealEstate.com is doing the lead generation for them. "We are going to fight this very expensive battle," he says.

Agents do pay for the leads. For closed transactions where the lead came from RealEstate.com, the agent pays a 35 percent "success fee." Even so, Vaca says, it's not all about the leads. "You don't come here for the leads. You come here for the leadership," Vaca says. RealEstate.com brokers train agents how to respond to leads and how to build up their repeat and referral business. But responding to leads is a key part of the business model. A consumer who makes a request on RealEstate.com can be on the phone with the call center in seconds, and on the line with an agent in a couple minutes, Vaca says. "We want to provide a worldclass consumer experience to the customer that's on the phone," he says.

Leads are doled out based on where an agent does business and also based on the agent's success in converting leads. Vaca admits the demands of responding instantly to leads can be grueling, so agents are able to call time-out. If an agent will be out with a client or dining with their family, they can hit an online "pause" button that means leads won't come to them for a time. But in a slow market, agents find RealEstate.com's lead machine a boon rather than a burden. "They love having leads delivered to their cell phones," Vaca says.

RealEstate.com has grown not only through recruiting but also through acquisitions. Its most recent deal, announced in late 2008, was for Tampa, FL-based New Homes Realty Inc., which had 200 agents and brokers. In 2007, RealEstate.com bought Distinctive Homes and Land of Tucson, AZ, and it also took over a brokerage in Salt Lake City. RealEstate.com has kept many of the agents after mergers, in part by keeping on a manager from the acquired company. "Trying to keep that family whole is important," Vaca says.

RealEstate.com has offices from New England to Southern California, but Vaca notes that the company isn't investing much in office space. Its Los Angeles office reaches through Central California because most of the agents work from home. "We opened with 3,000- to 4,000-square-foot offices, but we can function with half that space or less," Vaca says. "We have a very efficient, very scalable operation." For information on joing RealEstate.com, or to find out about acquisitions, visit www.join-realestate.com.

The many branches of Tree.com...New site...Rising Stock...

RealEstate.com — Tue, 05 May 2009 19:46:28 -0500

What a week it's been for Tree.com, the parent company of RealEstate.com, LendingTree, HomeLoanCenter and more. First, Tree announced it had made a profit the first quarter of 2009 beating Wall Streets expectations. Then on May 1st Tree.com was the biggest percentage gainer on the Nasdaq when the stock rose nearly 40%. Today the Motley Fool included Tree in an article titled, "4 Stocks That Have More Than Tripled", saying that "Tree.com, the parent of LendingTree.com, was supposed to be the ugly duckling in the IAC (Nasdaq: IACI) breakup. When IAC divided into five distinct companies, Tree.com was quickly forgotten. Between the lender lead generator LendingTree.com and residential realty's RealEstate.com, it was the wrong sector at the wrong time. It certainly feels a lot rosier these days. Last week, Tree.com shocked investors by generating a healthy profit when a narrow loss was expected. The company also posted top-line gains compared with the previous quarter, with rock-bottom rates stimulating new loan applications."

Today Tree.com launched their new web site...reflecting the ever changing segments they work in. The Tree.com philosophy is simple...Tree.com is where smart decisions start. In a marketplace where choice is more relevant and important than ever, we're here to give consumers the confidence they need to make big life decisions. Whether buying or selling a home, financing a new car, sending a child to college or shopping around for a new credit card, Tree.com and its portfolio of brands and businesses are here to help.

Let's look at each business individually:

LendingTree is the nation's leading online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 23 million loan requests and $185 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans and credit cards via www.lendingtree.com and 800-555-TREE.

RealEstate.com gives consumers a better way to buy or sell a home through a comprehensive suite of real estate services, tools and helpful advice. The site provides access to nearly 2 million home listings, 97 million home values and a unique deep-dive view into more than 22,000 cities reaching every metropolitan area in the U.S.

GetSmart.com is a leading financial services marketplace that offers borrowers access to a range of home loan products such as mortgages and refinance loans, home equity loans and lines of credit from a network of more than 200 lenders. Consumers who visit the site at www.getsmart.com or call 1-800-GETSMART complete a short and simple form and will then be matched with up to four competing lenders.

HomeLoanCenter.com is a consumer-direct online mortgage lender dedicated to matching homeowners with the right loan. The company also does business under the name "LendingTree Loans," and is a licensed mortgage lender authorized to do business in every state. For more information, call 1-800-94-CENTER or visit www.homeloancenter.com.

RealEstate.com, REALTORS® is an Internet-enabled real estate brokerage. It is a local, on-the-ground brokerage operation that complements the national RealEstate.com web portal and operates in 20 major markets nationwide with more than 1,200 sales agents. REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

Domania.com provides innovative retention marketing and customer acquisition services for leading industry lenders, including CitiMortgage, Chase and Bank of America, as well as lead generation services for many online real estate companies. The company also offers consumers its flagship Home Price Check home valuation tool on its web site www.domania.com

iNest.com is a leading real estate broker specializing in newly-constructed homes. Through its proprietary program, iNest provides consumers with a robust database of new home builders and communities with flexible search options. In addition, iNest offers an exclusive cash bonus program, which allows qualified users to earn up to one percent back on the purchase of a new home. To date, iNest has served more than 17,000 buyers resulting in more than $36 million in rebates.

Thrive, http://justthrive.com, brings all your credit card, checking, savings, retirement, and investment accounts into one place so you can easily see what you have, what you owe, and where you can grow. Your spending is automatically categorized so you can see exactly where your money is going. We analyze your financial information and calculate your financial health, which accurately predicts your financial stability in the long term. Based on this understanding, Thrive will then give you specific advice to help you improve.

InsuranceTree^TM is the latest free service for consumers from the innovators who created LendingTree® in 1998. InsuranceTree has teamed up with Marsh, the world's largest insurance broker and risk advisor, to help consumers LEARN MORE about the various insurance options available to them and their families. Personal risk assessment and risk management are the foundation for saving money and driving financial security today and in the long term. InsuranceTree's second goal is to EMPOWER consumers when shopping and comparing insurance options from highly rated national insurance carriers. For more info visit www.insurancetree.com.

Compromise reached on Assembly Bill 957 is also called “The Buyer's Choice Act”

RealEstate.com — Mon, 04 May 2009 17:41:56 -0500

The CA Association of REALTORS just released information on Assembly Bill 957, also called "The Buyer's Choice Act". The bill, authored by Assemblywoman Galgiani, will require fair treatment for real estate owned (REO) buyers in the choice of title and escrow providers. Here is an excerpt form the e-mail sent out minutes ago by the CA Association:

C.A.R. Achieves Compromise in AB 957,

Choice of Escrow Bill

C.A.R. achieved a compromise in AB 957, "Choice of Escrow Bill." In multiple discussions with the author, C.A.R. worked with Assemblywoman Galgiani, to come up with compromise language that will require fair treatment for real estate owned (REO) buyers in the choice of title and escrow providers.

The new language now protects fair negotiation over settlement services, and has removed C.A.R.'s opposition.

The new language will codify in California law the federal RESPA rules for selection of title insurance, and extend the same rules to protect buyers in the selection of escrow services. In a nutshell, the sellers will have to negotiate the selection of title and escrow. Under the new language, if an REO seller wants to try and direct choice of escrow, the seller will have to pay for the privilege.

AB 957 will also impose new penalties on REO sellers that violate the law, and will empower state regulators to go after both RESPA and "steering" violations.

This has been an on-going issue in CA where many banks have been "steering" buyers into using the banks preferred escrow company even when a local option existed and in many cases was less expensive. There was also a groundswell of opinion among real estate agents and brokers that offers submitted to banks were not getting a fair shake if they objected to using these preferred services. For more background on this bill visit:

http://democrats.assembly.ca.gov/members/a17/Pressroom/Press/20090420AD17PR01.aspx

Countrywide is no more....Mortgage update...

RealEstate.com — Mon, 27 Apr 2009 18:08:47 -0500

Today marks day 1 of the new brand...Bank of America Home Loans...finally putting an end to the Countrywide name. Link here: http://www.inman.com/news/2009/04/27/bofa-launches-loan-summary-form. Countrywide has been hit hard in the mortgage meltdown and perhaps this new brand will help them over time...but I'm not sold. Countrywide and BofA are miles apart when it comes to image and how they do business. BofA has always played the buttoned down, coat and tie kind of company, and Countrywide...is...well...not so much. Both certainly have had great runs and I'll be intersted to see how things shake out. But as one former Countrywide loan officer asked me when they told me they were leaving, "Do you like BofA"? Says a lot about what their own employees thought of the deal.

Also in the news today is a new bill aimed at removing incentives for mortgage brokers to put borrowers in risky loans. Link here: http://www.inman.com/news/2009/04/27/sweeping-lending-bill-under-fire. HR 1728, http://thomas.loc.gov/cgi-bin/bdquery/z?d111:h.r.01728: or the Mortgage Reform and Anti-Predatory Lending Act of 2009...would require loan originators to determine a borrower's ability to repay a loan, and only refinance mortgages when there is a "net tangible benefit" to the consumer. Hmmm...we'll wait and see but there is talk that it could backfire and actually hurt the very people it is trying to help.

Last week also marked a new pilot program between us, RealEstate.com, REALTORS in CA and Lending Tree Loans aka The Home Loan Center. As sister companies under the Tree.com umbrella, I am excited to be able to tap into this great team and know that our customers will have the opportunity to interact not only with a great REALTOR, but also a tremendous team that specializes in purchase financing. Lending Tree Loans is dedicated to providing the best possible service, rates and terms to their customers. Add in the RealEstate.com, REALTORS dynamic call center that responds instantly to every inquiry and you have a team that stands ready to deliver top notch service to customers. Lending Tree Loans can handle all of your conventional and FHA financing needs. Check them out today at http://homeloancenter.com.

President Obama named "Employee of the Month at RealEstate.com parent LendingTree...

RealEstate.com — Mon, 20 Apr 2009 20:04:29 -0500

A marketing coup...

CHARLOTTE, NC - President Obama recently encouraged Americans to take advantage of historically low interest rates by refinancing their mortgages. To show their appreciation for the President's efforts, Charlotte-based LendingTree responded by naming President Obama their "Employee of the Month".

"This may not be as life-changing for President Obama as appearing on Oprah, being elected President or bowling a 37 on the campaign trail, but around here, Employee of the Month is kind of a big deal,"" said Ned Schneibly, Co-Chair of LendingTree's Employee of the Month Committee.

In addition to an honorary plaque on LendingTree's "Wall of Fame", President Obama can look forward to several other exciting rewards: a $5 credit for the break room vending machine, a limited edition LendingTree t-shirt, and a reserved parking space next to the front door.

Click for more info and articles:

http://www.lendingtree.com/obama/

RealEstate.com, REALTORS® continues growth...welcomes new agents...

RealEstate.com — Mon, 20 Apr 2009 13:08:50 -0500

In a declining market and an uncertain economy it takes a special breed to press on in real estate. With challenges at every turn, market forces working against you daily, and competition fierce, the focus must remain on attracting the top talent available. The agents not only surviving but thriving in this market recognize they need an edge...something that will help push their business to the next level...and many find it here at RealEstate.com, REALTORS®. I want to welcome the following agents to the California RealEstate.com Team

In the Greater Los Angeles/Inland Empire Market:

Jessica Mansfield
Marie Palacious
Erin Baddon
Andrei Satsuta

In the Greater San Diego/Orange County Market:

John Hunycutt
Janet Ryan
Laura Littrell
Ricardo Paxton
Sven Roberts
Tsehai Abate
Felisa Chavez
Guillermo Jimenez
Desiree Monte-Rios
Jose Calderon

On average our agents have nearly ten years experience in real estate. We offer a high tech meets high touch solution to the issues facing agents today. With personal coaching and relevant training for today's market, we invest time, money, and effort to ensure our agents success. See what our agents are saying...

"I love REALESTATE.COM!!! 1 Company Lead + 3 referrals from that lead in two weeks = lots of new business and clients for me:-)". Tammy Foster, RealEstate.com agent in Temecula, CA.

"I've been busier the past two months than I have the past two years. I love the live transferred leads I get right from our call center to a customer that wants info on homes in my area." Steve Williams, RealEstate.com agent in Orange County, CA.

"The support, coaching and interaction I have with our leadership team insures I am at the forefront of technology, lead generation, training, and service. There is no stopping me now!" James Edwards, RealEstate.com agent in San Diego, CA.

To find out more about RealEstate.com, or to schedule a confidential interview, just contact me anytime...or visit www.join-realestate.com for more info! We are also looking at partnership and acquisition opportunities if you are a Team Leader or Broker/Owner.

Real Estate Guides and Resources

RealEstate.com — Sat, 18 Apr 2009 19:19:44 -0500

It's always tough knowing where to turn for advice and guidance when the time comes to buy a home. That's why RealEstate.com has put together some great online tools to help you get started. While there are many sources of information, RealEstate.com relies on the the experience and professionalism of those who know best...your local REALTOR®! You see, RealEstate.com has over 250 agents in California and nearly 1,200 across the U.S. So why rely on questionable sources when you can get it direct from a savvy pro right in your own neighborhood! Click the link below to access the RealEstaste.com database on everything from home values to financing your dream home...RealEstate.com...Get the Knowledge...Get the Edge!

http://www.realestate.com/tipsandtools/Buying/Guide-to-Buying-a-Home.aspx

Join-RealEstate.com...

RealEstate.com — Mon, 13 Apr 2009 10:28:09 -0500

How is your company helping to
strengthen your business?

Would 10-15 LIVE, pre-screened customers each month to your cell phone make a difference in your business
Would you benefit from relevant, comprehensive training
Do you want to build future referral business
Are you an expert in your marketplace

If you answered "yes" to even one of these questions, you owe it to yourself to hear more. Simply fill out your information and we will call or respond to your message within one business day.

We have set the gold standard in business opportunities for our REALTORS® with our incredible, industry changing "live warm transfers" from our nationally ranked web site to our agents cell phones in a matter of minutes. Upon receipt of the call, the buyer/seller is direct connected to an agent who can provide immediate information regarding specific homes to buy or to sell. The majority of our agent team hits the ground running with at least 1 sale from the company's leads within their first 30 days. There is no down time when we transfer an agent to our successful team. For more info visit: www.join-realestate.com or...

Call us @ 619.546.1753 or e-mail jason.lopez@realestate.com

RealEstate.com...Get the Knowledge...Get the Edge...

Putting the tax credits to work for you...

RealEstate.com — Mon, 06 Apr 2009 10:23:34 -0500

I recently posted a blog outling the $8000 federal tax credit and the $10,000 CA new home buyer tax credit, along with a few other tips on buying a home in today's market. You can read that here:

http://activerain.com/blogsview/952768/Top-Reasons-to-Buy-a-Home-Today

I wanted to follow up with a few success stories on how we have used this information to actually close transactions. First, it is important to note that there is a lot of misinformation out there about these credits and how they work...so be sure you are getting information from a reliable source and always verify it with your tax advisor. On the surface the tax $8000 tax credit in and of itself may not be enough to get you to put pen to paper and make an offer. But in some cases when coupled with other incentives, it may be just what you need to jump off the fence. After all who can't use $8000- $18,000?

Last month we had 6 offers accepted for clients that specifically bought because of the credits. In two cases they also bought new consturction, so they qualified for the $8000 federal new home buyer credit plus the $10,000 CA new construction credit. Additionally we negotiated with the builder to add some incentives and got them to buy the client out of a lease for $5000. That totalled up to $24,000! A significant incentive to say the least.

The reality of this market and economy is that there are great deals out there! Companies are negotiating on everythig from cars to household items to homes. Don't be shy in asking for incentives or credits or closing costs. Keep in mind however that when it comes to foreclosed homes competition is fierce and people are paying over list price. Lenders are pricing these homes to move so go in with your eyes wide open, look at recent sales comparables and work with a strong agent that knows how to structure the best deal possible for you and your family. Stay tuned for my next blog on the recent auction I attended, and get the inside scoop on how they work and if they are really the place to get a killer deal on real estate.

Refinance Vs. Loan Modification...What's a homeowner to do?

RealEstate.com — Thu, 02 Apr 2009 16:00:10 -0500

I know there is a lot of debate about the stimulus and just who will benefit. Well, in looking at the actual guidelines, there may be plenty of help on the horizon. We are opening new transactions monthly and are tracking to record numbers come 2nd quarter. Most of our business is buyer side and REO based. There is a lot of activity and homes are selling fast and for more than list price! It's a bit like the Wild West and it is a great time to buy. Anyway, I sent this info out to my 250 agents this morning and thought I'd post it here as well. The link below takes you to the Treasury Department outline for the guidelines under the Stimulus Package. Those of you that own property should also look at your own mortgage situation and see if there is anything you can do! There are some basic rules to qualify, along with other guidelines.

Must be a first position loan on your primary residence
Loan originated on or before January 1, 2009.
Must modify between now and December 31, 2012
Income must be documented
Must show a financial hardship in making your payments

Generally speaking your mortgage payment could be reduced to 31% of your monthly income. All sources of income must be documented and you must provide tax returns, etc. Banks and servicers will actually be offered incentives to work with homeowners. A few more key points:

The program will share with the lender/investor the cost of reductions in monthly payments from 38% DTI to 31% DTI.
Servicers that modify loans according to the guidelines will receive an up-front fee of $1,000 for each modification, plus "pay for success" fees on still-performing loans of $1,000 per year.
Homeowners who make their payments on time are eligible for up to $1,000 of principal reduction payments each year for up to five years.
The program will provide one-time bonus incentive payments of $1,500 to lender/investors and $500 to servicers for modifications made while a borrower is still current on mortgage payments.
The program will include incentives for extinguishing second liens on loans modified under this

Take a look and review the guidelines below and share with all of your friends, family, clients, leads, prospects, etc! Here is the link.

http://www.treas.gov/press/releases/reports/guidelines_summary.pdf

Looking for an exit strategy? RealEstate.com may have the solution...

RealEstate.com — Sat, 28 Mar 2009 19:46:49 -0500

After spending the past week with the leadership team of RealEstate.com and discussing trends, growth opportunities and other issues facing us and the industry, we have determined there is opportunity all around. Current market conditions lead us to believe that the best way to thrive is to partner with those firms that are like-minded, progressive and know how to provide the highest level of service to their agents and customers.

With an established brokerage and Broker Network in place that has been operating for the past decade, we still have opportunity in California and across the country to offer our industry best lead generation to your company. Our system puts live customers in front of your agents via a warm transferred connection from our state of the art, multi-million dollar call center. Maybe you'd rather partner with us to "Feature" your entire listing inventory on the RealEstate.com destination website. Currently over 2 million listings are available to search via IDX, but now you can put your company listings at the top of the search result page and generate more inquiries for your sellers. Millions of visitors search for real estate each month on RealEstate.com and you'll benefit from our multi-dimensional relationships that have put us at the #2 organic search position on Google for the search term "real estate."

Maybe a targeted Internet advertising system is what you need. With newspapers folding and cutting back on classfieds, you know the web is the place to be. Could your firm benefit from a stategic and targeted Internet marketing system that puts your listings and company in front of millions of visitors every month? See why companies like Sprint, Expedia, Verizon, AAA, and Vonage advertise on the RealEstate.com family of sites.

Maybe you are a broker-owner that is looking to take your company to the next level or you are interested in selling your company and providing an exceptional opportunity for your current agents. With the recent acquisition of New Homes Realty, we have a plan that can transform your brokerage into a RealEstate.com entity and provide the best lead generation and marketing platform for your agents. Don't close the doors...talk to us and let's see if it's the right opportunity for you and your company. I am actively looking to speak with brokers with 5 to 500 agents to discuss how joining RealEstate.com can benefit your operation. We have the infrastructure and operational capacity to transform your firm and help you take advantage of the current market conditions.

Realistic Buyer Expectations...

RealEstate.com — Fri, 20 Mar 2009 14:14:29 -0500

One of the challenges both buyers and buyer's agents face today is determining what price to offer on a property. As an agent we want to get the best deal possible for our client and the buyer feels the same. The problem is both the agent and the buyer can't be right! Buyers watch TV, read the paper and think they have all the info they need to get that best deal. But what happens when they have written 20 offers and not been sucessful in getting an offer accepted? Perhaps we did a poor job of setting expectations.

Our job as agents is to help our client get what they tell us they want. The question is, "What do they really want?" They tell us they want a deal yet we don't help them understand the realities of the market. "Mr. Buyer, this house is listed for $275,000, it sold for $418,000 3 years ago...that's a deal! Let's look at the recent comparable sales in the area, see how prices are here? If you want this home you need to write $10,000 over." There is no reason they have to write 20 offers! Write one really good offer and get into escrow!

Using comps is the most powerful way to help your buyer understand the market. Just as you would review comps with a seller, you must do the same with buyers. This is the most powerful method to help your buyers know what is happeneing and set you up as the agent to help them. Use testimonials from recent buyers to make your point. Let others tell their story to reinforce what you are telling them. Know your market. What are the best deals? What is the market time, average price, declining areas, improving areas, other top agents that work there. Knowing the in's an out's of your local market will help you impart information that allows buyers to make the best decisions...and make them sooner.

RealEstate.com taps new strategy....Realigns team to create more ways too connect...

RealEstate.com — Wed, 04 Mar 2009 09:34:26 -0600

Today Tree.com named Greg Hanson Senior Vice President and General Manager of RealEstate.com. In this role, Mr. Hanson is responsible for leading continued growth and innovation in all segments of RealEstate.com. Mr. Hanson was previously the Vice President of Product Management where he developed RealEstate.com into one of the most widely visited Web sites for consumers looking to buy or sell a home. In January 2009 alone, RealEstate.com had more than two million visits and 25 million page views.

With the company for more than three years, Mr. Hanson was previously responsible for overall development and design of several key company technology initiatives such as expanding RealEstate.com to more than 22,000 locations nationally, RealEstate.com Mobile, RealEstate.com terrain and traffic mapping, RealEstate.com listings API, as well as ramping up RealEstate.com to be one of the most powerful listings engine of homes for sale across the country. Hanson will report to Tree.com Chairman and Chief Executive Officer Doug Lebda.

In addition, Victor Vaca, formerly the Vice President of Sales for RealEstate.com, REALTORS®, has been named the National Vice President of Sales for all of RealEstate.com combining business development efforts at each of the RealEstate.com units into one streamlined team reaching builders, real estate agents and broker partners. He leads a newly created U.S. sales team that covers four national regions including Northeastern Region led by Regional Vice President Mark Jeffers, Southeastern Region led by Regional Vice President Kurt Gleeson, Central Region led by Regional Vice President Dave Clark and Western Region led by Regional Vice President Bill Yeager. Mr. Vaca has been with the organization for three years and has successfully grown RealEstate.com, REALTORS® to 20 markets across the U.S. and more than 1,200 sales associates. Mr. Vaca is an accomplished real estate industry veteran with experience growing and developing sales divisions across multiple verticals in large regional and national brokerages including Coldwell Banker United, REALTORS®.

"The appointments of Greg and Victor come at the perfect time for RealEstate.com," says Doug Lebda. "This new structure enables us to continue executing our strategy to grow traffic at RealEstate.com while reorganizing our field sales structure to better monetize business and remain extremely focused on cost."

Added Hanson, "I am incredibly excited to lead RealEstate.com. We will continue working hard to make RealEstate.com the best destination online for consumers looking to buy and sell a home, while also creating an efficient engine where we can better service those customers. We're moving away from a multi-unit sales force effort and instead, are better aligning our team and creating more ways than ever for builders, real estate agents and broker partners to easily work with us to reach the millions of highly-motivated consumers that visit our site."

About RealEstate.com
RealEstate.com gives consumers a better way to buy or sell homes through a comprehensive suite of real estate services, tools and helpful advice. The site provides access to more than two million homes for sale, 97 million home values and a unique deep-dive view into more than 22,000 cities reaching every metropolitan area in the U.S. The company also operates five distinct business lines including RealEstate.com, REALTORS®, an Internet-enabled real estate brokerage that operates in 20 markets with more than 1,200 sales agents; a Broker Network, a strategic lead generation program for real estate brokers that provides them with incremental, targeted, and high-quality leads; iNest, a lead generator that specializes in newly-constructed homes and offers consumers an exclusive cash bonus program; Domania, a provider of innovative customer acquisition and retention products for banks, mortgage lenders and REALTORS®; and a network of geo-targeted advertising opportunities throughout the RealEstate.com portal.

RealEstate.com is a division of LendingTree, LLC, a Tree.com, Inc. company (NASDAQ: TREE). REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

RealEstate.com, REALTORS® is hiring agents throughout California...

RealEstate.com — Mon, 02 Mar 2009 15:57:24 -0600

At RealEstate.com, REALTORS® our website and multimillion dollar call center generate so many live customers on the phone that our agents are dramatically increasing their business and their income. RealEstate.com is a national real estate company that is harnessing the power of the internet and dramatically elevating the quality of the real estate experience for our customers and agents. Because we are experiencing such phenomenal growth, we are seeking quality, experienced real estate agents to join our team. To find out more about what we offer and how it might impact your career, please forward your resume to Aaron.ralstin@realestate.com or contact us at 1-858-750-7852. Agents meeting our requirements may be offered the opportunity to interview with our Broker/Manager to discuss joining our team.

Where have all the buyers gone?

They are on the Internet, and then they are working with us!

Our agents receive live customers delivered directly to their cell phones. Let us show you how agents just like you are doing more business and making more money servicing our large client base. We currently have limited territories available.

Tired of paying monthly fees?

RealEstate.com Provides the following to Our Agents At No Cost

Industry Best Internet Service Center and Customer Generation

Management Support and Assistance

Listing Exposure on RealEstate.com and Realtor.com

RealEstate.com E-mail Account

Office Computers, Software, Copiers and Fax

MLS Lock Boxes

RealEstate.com National Advertising

RealEstate.com Regional Advertising

Relocation and Referral Services

Mentor and Coaching Program

Ongoing Training for Experienced Agents

Unparalleled Personal Promotion and Marketing Tools

Downloadable and Customizable PowerPoint Listing Presentation

Yard Signs and Name Riders

Business Cards

Call 1-858-750-7852 to discuss this unique opportunity with our career counselor, or forward your contact information or resume to

Aaron.ralstin@realestate.com. Agents meeting our requirements may be offered the opportunity to meet with our Broker/Manager to discuss joining our team. We look forward to meeting you!

RealEstate.com, REALTORS is hiring experienced agents throughout California...

RealEstate.com — Mon, 02 Mar 2009 15:47:29 -0600

Real Estate Agents Needed: We Provide the Clients!

At RealEstate.com, our website and multimillion dollar call center generate so many live customers on the phone that our agents are dramatically increasing their business and their income. RealEstate.com is a national real estate company that is harnessing the power of the internet and dramatically elevating the quality of the real estate experience for our customers and agents. Because we are experiencing such phenomenal growth, we are seeking quality, experienced real estate agents to join our team. To find out more about what we offer and how it might impact your career, please forward your resume to Aaron.ralstin@realestate.com or contact us at 1-858-750-7852. Agents meeting our requirements may be offered the opportunity to interview with our Broker/Manager to discuss joining our team.

Where have all the buyers gone?

They are on the Internet, and then they are working with us!

Tired of paying monthly fees?

RealEstate.com Provides the following to Our Agents At No Cost

Industry Best Internet Service Center and Customer Generation

Management Support and Assistance

Listing Exposure on RealEstate.com and Realtor.com

RealEstate.com E-mail Account

Office Computers, Software, Copiers and Fax

MLS Lock Boxes

RealEstate.com National Advertising

RealEstate.com Regional Advertising

Relocation and Referral Services

Mentor and Coaching Program

Ongoing Training for Experienced Agents

Unparalleled Personal Promotion and Marketing Tools

Downloadable and Customizable PowerPoint Listing Presentation

Yard Signs and Name Riders

Business Cards

Call 1-858-750-7852 to discuss this unique opportunity with our career counselor, or forward your contact information or resume to

Aaron.ralstin@realestate.com. Agents meeting our requirements may be offered the opportunity to meet with our Broker/Manager to discuss joining our team. We look forward to meeting you!

RealEstate.com, REALTORS is hiring Inland Empire Agents...

RealEstate.com — Mon, 02 Mar 2009 15:44:54 -0600

Real Estate Agents Needed: We Provide the Clients!

Where have all the buyers gone?

They are on the Internet, and then they are working with us!

Tired of paying monthly fees?

RealEstate.com Provides the following to Our Agents At No Cost

Industry Best Internet Service Center and Customer Generation

Management Support and Assistance

Listing Exposure on RealEstate.com and Realtor.com

RealEstate.com E-mail Account

Office Computers, Software, Copiers and Fax

MLS Lock Boxes

RealEstate.com National Advertising

RealEstate.com Regional Advertising

Relocation and Referral Services

Mentor and Coaching Program

Ongoing Training for Experienced Agents

Unparalleled Personal Promotion and Marketing Tools

Downloadable and Customizable PowerPoint Listing Presentation

Yard Signs and Name Riders

Business Cards

Call 1-858-750-7852 to discuss this unique opportunity with our career counselor, or forward your contact information or resume to

Aaron.ralstin@realestate.com. Agents meeting our requirements may be offered the opportunity to meet with our Broker/Manager to discuss joining our team. We look forward to meeting you!