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Top Real Estate Persons Expect Market Instability through 2010

September 28, 2008

In a recent report that measured the opinions of 424 top real estate executives, most expect market instability through 2010.  62% of those surveyed believe that it will be until 2010 before the real estate markets begin to stabilize.  And 22% believe it will take until 2011 before things get sorted out and back to a somewhat more normal situation.  Most (51%) also believe that foreign investors will be the primary ones being most active in the US real estate markets.  This is probably due to the double whammy effect of soft real estate prices, generally speaking, across the US combined with the weak dollar value relative to other currencies.  So, you end up with a situation with “real estate on sale” - and then add in the dollar being weaker than it has been for a very long time, and its a slam dunk win/win for them to start making moves to acquiring some real estate investments in the United States.

Written by Ryan Ward and Jon Karlen · Filed Under Headlines | 2 Comments 

Real Estate is Local

September 27, 2008

The old saying “real estate is local” definitely applies.  And the story definitely goes to show that while some areas of the country are getting creamed with market slow downs, huge inventory increases, and very high double digit rates of depreciation - a great deal of many other communities are enjoying only very slight down turns (and in some areas, they are seeing decent rates of appreciation).  Its a great example of why even though many persons want to see things from a national perspective, ultimately real estate comes to the local level.

Written by Holly White and Jon Karlen · Filed Under Real Estate Blog Watch | 1 Comment 

Desperate Sellers Resort to Raffle to Sell Their Home

September 25, 2008

An example of what the softening real estate market is causing some home owners to do to get their home sold.  The example cited is about some desperate sellers resorting to a raffle to sell their home.  Unable to sell their home after a very long period of time with it sitting on the MLS, they teamed with a real estate agent, and promised any money above the amount needed to be raised would be donated to charity.  They sold raffle tickets at $100 a pop, and raised enough money to get themselves out of debt, and donate a sizeable amount to the charity.  While this may seem to be an interesting way of doing things particularly in softening real estate markets - there can be a lot hurdles that need to be checked out, such as gambling laws for your area, and there is a significant amount of risk involved as well.  What happens if you don’t sell enough tickets?  Regardless, it shows how creative some persons can be in these difficult financial times.

Written by Eric Bramlett and Jon Karlen · Filed Under Headlines | 3 Comments 

Analysis of the Real Estate Bubble

September 24, 2008

Excellent piece on the analysis of the real estate bubble.  Discusses a personally known example of what a person was doing, why it was a poor long term choice, and the consequences of those poor decisions.  Essentially, one of the primary contributors to the real estate, mortgage, and market/economy crisis has been that persons were getting into homes with little or no money down.  They were then relying on the very strong/fast appreciation of the real estate market to then provide them “built in” equity in the home.  The problem of course with this way of doing things:  what happens when the appreciation isn’t there, or worse, when the market starts declining in value….and this is what has led the charge on driving the economy down.  Risky and greedy financial strategies - and now they are paying the price for their unconservative decisions.

Written by Harrell Tague and Jon Karlen · Filed Under Real Estate Blog Watch | Leave a Comment 

GMAC Real Estate Sells to Brookfield Asset Management

September 23, 2008

Big news for persons that are flying the GMAC Real Estate flag as their franchise:  GMAC is selling off their real estate assets off to Brookfield Asset Management.   Affected by this purchase are approximately 80 corporately owned offices, along with another 1,000 franchisees.  Brookfield Asset Management is a Toronto Canada based company and operates under many other company brands including Royal LePage, La Capitale, Johnston & Daniel and Centract.

Written by Allen Finatri and Eric Blackwell · Filed Under Headlines | Leave a Comment 

Real Estate Markets Continue to Slow

September 21, 2008

Despite government promises, plans, and bailouts - the ailing real estate markets continue to slow.  While real estate agents are reporting that there are persons interested in buying a home, many are needing to sell an existing home to purchase the new one in the first place.  This is creating a frustrating domino chain where persons are all needing the first person in the chain to get the dominoes to start to fall.  Additionally, many persons are having issues with the tightening loan requirements that the mortgage industry is putting in for any applications - leaving persons that would have been able to purchase a home just a short time ago, unable to perform in today’s market.

Written by Jon · Filed Under Headlines | Leave a Comment 

Fiduciary Duties of Real Estate Agents

September 21, 2008

A short and to the point blog post about the fiduciary duties of real estate agents.  An easy way to remember the list is to use the acronym COLD A/C (granted the author has them in a different order than than acronym would call for).  Its good for the public consumer to be made aware of the obligations of those that are representing their interests in any home buying or selling transaction.

Written by Jon · Filed Under Real Estate Blog Watch | Leave a Comment 

Active Rain vs Wordpress (ActiveRich and Dave Smith @ REBlogWorld)

September 20, 2008

There are a LOT of reasons that I would have LOVED to be @ REBlogWorld. The chance to meet Todd Carpenter would be one. Hanging out with Teri Lussier would be another. The biggest reason that I would love to go would be the following. The best presentation on the REBlogworld card promises to be Dave Smith’s debate with ActiveRich about the merits of ActiveRain vs a Wordpress blog.

While I am a huge fan of WordPress blogs vs outside blogs, I like both of these guys and look forward to hearing how it went! Best to both.

Written by Eric Blackwell · Filed Under Real Estate Blog Watch | 1 Comment 

Apple recalls millions of iPhone 3G power adapters

September 20, 2008

Friday, Apple recalled ALL of the iPhone3g phone adapters sold since mid July, as reported in this press release. According to Computerworld Magazine, analysts estimate that as many as six million iPhones could be affected.

Written by Mitch Ribak and Eric Blackwell · Filed Under Franchise Watch | 1 Comment 

Feds assume control of Fannie Mae and Freddie Mac

September 7, 2008

The Feds have now assumed control of Fannie Mae and Freddie Mac in their efforts to prevent mortgage (and economic) turmoil.  The executives for both of those mortgage companies have been replaced.  Any negative downside experienced by either of these 2 institutions would definitely have a tremendous negative impact on the entire American economy - and would only further exacerbate the ongoing real estate slow down and mortgage crisis that is being felt throughout the country.

Written by Jon · Filed Under Headlines | 1 Comment 

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