RE/MAX Founder Chimes In on Media Reporting
May 15, 2008
David Liniger, founder of RE/MAX International, recently commented on his blog about some of his frustrations with the national media and their use of inaccurate data. Mr. Liniger decides to take the high road and focuses on two positive articles from Chris Pummer with Marketwatch and Cyril Moulle-Berteaux with The Wall Street Journal.
National Association of Realtors 2007 Annual Report
May 13, 2008
Some of the highlights in this article include the 2007 National Association of Realtors Annual Report. For convenient reference, there are also the reports from previous years of 2004, 2005, and 2006 as well. It touches on some of the main focuses and accomplishments for 2007 for the NAR. An excellent record of events for anyone wanting to analyze where the real estate industry was, and is going.
REALTORs believe Stimulus Bill will Stabilize Real Estate Markets
May 12, 2008
The National Association of REALTORs has voiced their opinion regarding the Stimulus Bill for homes and the real estate markets. Several additions to the original proposal are getting package into the bill including a $7500 tax credit for 1st time homes buyers that they hope will help buoy up the weakening housing markets.
Freddie Mac Primary Mortgage Market Survey remains flat
May 9, 2008
There was little change in this week’s Freddie Mac Primary Mortgage Market Survey (PMMS) as it continues to remain fairly flat. If you look at this week’s numbers, you can see that the 30 year fixed mortgage rate moved down from 6.06% to 6.05%, while the 15 year fixed rate mortgage rate moved up from 5.59% to 5.60%. Not a substantial change.
The most movement (which again, is very slight), were in the adjustable rate mortgages (ARMs). 5/1 year ARMs decreased from 5.73% to 5.67%. And 1year ARMs held steady at 5.29%.
House of Representatives Approve Real Estate Bailout
May 9, 2008
The House of Representatives approved a bill that would provide a real estate bailout for mortgages. President Bush has promised to veto the bill if it makes it to his desk. Some of the controversial issues in the bill include a proposed $300 Billion (yes, Billion with a B) dollars that would essentially help a great many of the persons that caused the real estate crisis in the first place - and it would be overly burdening of the American Taxpayer.
Federal Reserve Raises Lending Standards for Banks
May 7, 2008
It appears we are at a crossroads, while the mortgage industry is trying to ease things so more persons have options and ability to purchase homes - the Federal Reserve is now raising its lending standards for banks. This is somewhat of a diverging path - so it should be interesting to see how this all shakes out.
FREE Realtor.com Enhanced Listings for everyone!
May 7, 2008
According to an article on the Bloodhound Blog, Realtor.com will soon be offering free enhanced listings for everyone. Great news for many of the persons that have been complaining for some time how they’ve been taking listings and segregating them based off whomever pays the most money. Its great for consumers, and Realtors alike!
Real Estate Mortgage Guidelines to Soften
May 7, 2008
A great piece of news for many homes owners in the United States, this article details some of the government restrictions and guidelines for mortgages. A must read for anyone that needs to be up to date on the latest happenings within the real estate and mortgage industries.
The goal of our Tech Reviews
May 6, 2008
I thought i would take a second to provide some thoughts on what our Technology review section of Real Estate Industry Watch is all about. As REALTORS, we all need tools that work and work well. We need them to be easy to use. We need them to deliver what they promise and NOT to frustrate us.
In many places on the web, there are quite a few people who simply say “you should do this” or “you shoud do that”. Our goal with our technology reviews is to take a cell phone, a camera, a laptop, a lead generation system, a service that falls under the category of real estate technology…put it in the handsof a REALTOR and have them report back how they found it to be.
No varnish. No spin. Just 100% pure “Here’s how it worked.” Would you like to be a tester? Would you like to be a “Testee” and have your product tested by our REALTORS and reported on? The process is simple! Drop us a comment on the right hand side of the page and we will be in touch! Simple as that!
REALTORS, Mayors recognize 6 cities
May 5, 2008
Six cities were recognized for their efforts to promote affordable housing in a recent NAR press release . The National Association of Realtors® and the U.S. Conference of Mayors have designated six cities as 2008 Ambassador Cities. The cities are Alexandria, Va., Allentown, Pa., Asheville, N.C., Bowling Green, Ky., Irvine, Calif., and Richmond, Va. For more information, click on the link above and go directly to the NAR press release.
Real Estate Quote of the Week
"I often hear remarks from agents like, “the bank sold that house really cheap - 30% below market value”. I don’t agree with that kind of statement. If various banks are the only sellers selling in an area and they are selling all of their houses at a perceived “below market” sales price - perhaps that IS the market for that product in that area. A good price fixes any of the various bad conditions. There is no good reason to take (or keep) a listing that isn’t going to sell."
Russell Shaw - in AgentGenius from Phoenix AZPolls
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