Business Outlook Archive
RISMEDIA, June 29, 2011—Short sales aren’t what they used to be. Gone is the long and complex process that often confused and frustrated both buyers and sellers. Today, mortgage lenders—along with the federal government—have streamlined short sales to make them more efficient and successful than ever before. Here are several things real estate professionals need to know as they pursue this significant opportunity.
First, what is a “short sale?” It’s a process in which the mortgage lender allows a property to be sold for less than the remaining principal balance on the loan. Short sales can be the answer for home-owners who cannot afford their mortgage payments or no longer wish to remain in the home.
RISMedia, June 29, 2011—This week’s headlines from the NATIONAL ASSOCIATION OF REALTORS® include: get the pulse of the marketplace with the “2010 NAR Profile of Home Buyers and Sellers,” new mobile app for REALTORS® from REALTOR Benefits® Program Partner, Lowe’s, and NAR urges regulators
RISMEDIA, June 28, 2011—A significant majority of the 108 economists and experts participating in MacroMarkets’ June Price Home Expectations panel believe that the bottom for home prices arrived in the first quarter or will arrive sometime before year-end.
RISMEDIA, June 27, 2011—"Biography" is one of my favorite TV shows because it pays tribute to the accomplishments of well-known, successful men and women. I gain insight and inspiration from their stories of achievement and personal triumph over adversity. I find it interesting to note that successful people clearly understand the value of a role model and the power of a mentor's guidance. Each of these high-achievers are quick to express sincere praise for their mentors and the positive impact they had on their lives. They're grateful that someone recognized their talent and believed in them enough to help them develop their full potential.
RISMEDIA, June 27, 2011— The National Association of Home Builders (NAHB) recently expressed support for a five-year extension of the National Flood Insurance Program (NFIP) to ensure that the federally-backed flood insurance program remains efficient and effective in protecting flood-prone properties and creates more stability in the housing market.
Testifying before the Senate Banking Committee, Barry Rutenberg, first vice chairman of NAHB and a home builder from Gainesville, Fla., told lawmakers that because the NFIP has had to undergo a series of short-term extensions over recent years, it has created a high level of uncertainty in the program and caused severe problems for the nation’s already troubled housing markets.
RISMEDIA, June 27, 2011—U.S. house prices rose 0.8 percent on a seasonally adjusted basis from March to April, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.3 percent decrease in March was revised to a 0.4 percent decrease.
RISMEDIA, June 27, 2011— Mortgage applications decreased 5.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 17, 2011.
RISMEDIA June 25, 2011—U.S. house prices rose slightly in April for the first month-to-month increase since last May, according to new numbers released today by the Federal Home Finance Agency, a branch of the Treasury Department.
RISMEDIA, June 24, 2011—In part 1 of this article, we covered some common basic ideas about prosperity. Now we will address how you can change your mind-set to achieve greater prosperity.
Typically when people first see me for help in becoming successful, they aren't aware that they have any self-limiting beliefs about money.
However, when I start asking powerful, clarifying questions, the hidden beliefs usually come up to the surface fairly easily.
I'm going to give you samples of the kind of questions I ask my clients and I want you to ask the same questions of yourself and take notes on the answers that you get.
RISMEDIA, June 24, 2011—The so-called “shadow inventory” of foreclosures—properties in the foreclosure pipeline but not yet listed on multiple listings services—slowly sank over the past year but still amount to five months’ worth of home sales.
The inventory fell from 1.9 million homes a year ago to 1.7 million in April, according to the latest report from CoreLogic, who attributed the decline to fewer new delinquencies over 90 days and a high level of distressed sales, which helped reduce the number of outstanding distressed loans.
The shadow inventory nationally peaked in January 2010 at 2 million units, 8.5 months’ supply, and stands 18 percent lower today than it was in April 2011. The total shadow and visible inventory was 5.7 million units in April 2011, down from 6.2 million units a year ago. The decline occurred in both the visible and shadow inventories.
RISMEDIA, June 24, 2011—U.S. Housing and Urban Development Secretary Shaun Donovan recently announced HUD will speed federal disaster assistance to the State of Montana and provide support to homeowners and low-income renters forced from their homes following severe storms and flooding in April.
RISMEDIA, June 23, 2011—Mergers and acquisitions was a hot topic for broker members of RISMedia's Real Estate Information Network® (RREIN) during an exclusive members-only panel at RISMedia's 2011 Achieve! Conference last month. Held in Rye, N.Y. on May 24 and 25, the conference was bolstered by the expertise of its esteemed speakers who gave members deeper insight and tips on how to successfully approach and complete an acquisition in the current market.
Held as part of a special educational track for RREIN members and brokers, the panel discussion “Reshaping & Restructuring Your Business for the Future” was moderated by RREIN Member Ed Krafchow, chairman of the board for Better Homes and Gardens Mason-McDuffie Real Estate. The session focused on key areas of external and organic growth for brokers seeking to expand their reach in the current business climate.
RISMEDIA, June 23, 2011—Existing-home sales were down in May as temporary factors and financing problems weighed on the market, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell
RISMEDIA, June 23, 2011—Recently, U.S. Housing and Urban Development Secretary Shaun Donovan announced that HUD will be investing an additional $67 million towards creating stronger, more sustainable communities that connect housing to jobs while fostering local innovation and building a clean energy economy
RISMEDIA, June 23, 2011— You would think the world was going to end. I know things are tough but the headlines are making me crazy:
USA in decline... Foreclosures... Bankruptcies... Short Sales... Government Deficit... Unemployment... Wars... Debt Ceiling... Partisan Bickering... Gas Prices...
No wonder we can’t get anything done. Everyone is worrying about everything and the media is having a feeding frenzy. Meanwhile, we have an industry in the midst of “seismic” change and too many brokerages are letting the noise keep them from doing what they need to do. We must reinvent ourselves and get out of the cycle of fear driven by the makeup of our industry and the crazy things going on all around us.