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Friday’s Featured Listing - Living Luxuriously at the Jersey Shore

RISMEDIA, May 9, 2008-The Robertson Douglas Group, one of the Jersey Shore’s premier custom home builders, has selected Diane Turton, Realtors as the listing agent for Hoffman’s Marina, an elegant enclave of town homes in Brielle, New Jersey.
Prospective buyers can now tour a furnished model at RiverVue, which is on the Manasquan River, and see […]

Better Homes and Gardens Real Estate Appoints VP for Affiliate Consulting

RISMEDIA, May 9, 2008-Better Homes and Gardens Real Estate LLC announced that Robert F. Albanese will serve as its vice president for affiliate consulting. In this role, Albanese will be responsible for developing the brand’s “strategist” consulting model, working with brokers and owners of the brand’s franchisees throughout the United States. With a focus on […]

Remodeling Activity Remains Steady in First Quarter

RISMEDIA, May 9, 2008-Remodeling activity remained steady during the first quarter of 2008, according to the National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI). The current market conditions indicator increased to 41.8 from 40.9 in the fourth quarter, while the future expectations measure showed no change from the previous quarter at 37.9.
The RMI […]

Put Foreclosure Fears to Rest - 7 Tips for Successful Foreclosure Purchases

RISMEDIA, May 8, 2008-Trulia.com released the results of a study conducted by Harris Interactive® showing that while more than half of all U.S. adults would consider purchasing a foreclosed home, over two-thirds also feel that there are several negative aspects of such purchases. The findings, part of a comprehensive survey of consumer attitudes about foreclosure, […]

NAR - Soft Existing-Home Sales Expected Near-Term But to Rise Midsummer

RISMEDIA, May 8, 2008-A flat pattern in home sales activity should continue for the next couple months before improving over the summer, according to the latest forecast by the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said the extent of an expected recovery hinges on better access to affordable loans. “Things are beginning to […]

Zillow - U.S. Home Values in Q1 Fall Back to 2005 Levels

RISMEDIA, May 7, 2008-Home values in the first quarter of 2008 fell 1.6% from the fourth quarter and 7.7% from the year-ago quarter, marking the most significant year-over-year decline in the past 12 years, to a U.S. Zindex® home value indicator of $213,000, according to the Zillow.com Q1 Home Value Report released this week. The […]

Charleston, SC Firm Re-Brands, Affiliates with LeadingRE

RISMEDIA, May 6, 2008-Carolina One Real Estate, formerly Prudential Carolina Real Estate, became the newest affiliate of Leading Real Estate Companies of the World® effective May 1.
Headed by Patty Scarafile, Michael O’Shaughnessy, and Grange Cuthbert, the company is the market leader in Charleston, SC, with market share exceeding 30%.
“While our name is changing, our commitment […]

Sotheby’s International Realty Network Continues Mediterranean Expansion

RISMEDIA, May 6, 2008-Sotheby’s International Realty Affiliates LLC announced signing of an exclusive 25-year licensing agreement covering the eastern Mediterranean region with Terra Sotheby’s International Realty, with its first office to open in Cyprus by the end of the year.
According to Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC, the […]

How Many Children Will Be Impacted by the Foreclosure Crisis?

RISMEDIA, May 5, 2008-A new report reveals that an estimated 2 million children will be directly impacted by the subprime mortgage crisis as their families lose their homes due to foreclosures. As a comprehensive analysis of how the crisis will impact kids, the report explains that this number will rise even higher when accounting for […]

Realogy to Release First Quarter Results

RISMEDIA, May 5, 2008-Realogy Corporation, a global provider of real estate and relocation services, will release its financial results for the first quarter ended March 31, 2008 after the close of business on Wednesday, May 14, 2008.
Subsequently, Realogy will hold a conference call via Webcast to review its first quarter 2008 results at 11:00 a.m. […]

Hall & Hunter Realtors Named Exclusive Affiliate of Christie’s Great Estates

RISMEDIA, May 5, 2008-Hall & Hunter Realtors has been selected as an exclusive affiliate of Christie’s Great Estates, a wholly owned subsidiary of Christie’s International plc, the world’s oldest fine art auction house. Through Hall & Hunter Realtors, buyers and sellers of high-end properties in Birmingham, Bloomfield, Beverley Hills, Franklin, Farmington, Troy, and other northern […]

Seizing the Day - Hosting a Ride Through the Land of Lost Homes

By Susan Chandler
RISMEDIA, May 2, 2008-(MCT)-The yellow-and-orange bus would stand out anywhere even without the giant letters proclaiming its purpose: RepoHomeTourChicago.com. A handful of buyers have shown up to board the 12-seat shuttle parked at a suburban shopping mall amid the drizzle on a recent Saturday morning.
As they take their seats, the home shoppers are […]

Friday’s Featured Listing - Caribbean, NAHB Pillars of the Industry Finalist

RISMEDIA, May 2, 2008-Caribbean, the luxury oceanfront condominium nearing completion in Miami Beach, has been named a finalist in the National Association of Home Builders (NAHB) 2008 Pillars of the Industry Awards. The winners will be announced at the awards gala in Colorado Springs, Colorado. Developer Christa/Bluerock entered Caribbean into the Best Adaptive Reuse of […]

Massachusetts Firm Joins Sotheby’s International Realty Network

RISMEDIA, May 2, 2008-Sotheby’s International Realty Affiliates LLC announced that Realty by the Sea, which services Massachusetts’ North Shore market, has joined its luxury real estate network.
The firm is located in Beverly Farms, Mass., and now will do business as By the Sea Sotheby’s International Realty.
By the Sea Realty is owned by AnneMarie Martins, and […]

SKY Sotheby’s International Realty Announces Auction, Millions of Dollars Worth of Properties

RISMEDIA, May 2, 2008-SKY Sotheby’s International Realty announced it will hold its first of two Sarasota luxury property auctions for 2008 on April 11 at the Longboat Key Club and Resort, with an estimated $100 million in extraordinary properties for sale. Bidder registration begins at 9:00 a.m. on auction day, with the auction starting at […]

Credit Tightening on Builder Loans Threatens to Prolong Downturn

RISMEDIA, May 2, 2008-The mortgage credit crunch has spilled over into the housing production loan market, threatening to prolong the current housing downturn, the National Association of Home Builders (NAHB) told Congress.
“The mortgage credit crunch will continue to be the most significant factor impacting the home building industry into the foreseeable future,” Scott Eckstein, a […]

Friends Who Work Together … and Play Together

RISMEDIA, May 3, 2008-(MCT)-The North Fork, Calif., home of Caroline Dezan and Ford James was all abuzz, literally, one recent Saturday morning.
James and two friends were using chain saws to cut apart oaks that had fallen. Three other friends were tackling a pond, re-leveling and weeding it. Three more friends were inside their home painting […]

HSA Home Warranty Announces Exclusive Agreement with Edina Realty

RISMEDIA, May 1, 2008-Michael F. Clear, president of HSA Home Warranty recently announced that HSA has been selected as the exclusive provider of home warranty protection for Edina Realty’s offices throughout Minnesota, North Dakota and Western Wisconsin.
As a leader in the home warranty industry since 1984, HSA provides comprehensive home warranty coverage and outstanding service […]

Foreclosure Activity Up 112% from Q1 2007

RISMEDIA, April 30, 2008-RealtyTrac®, an online marketplace for foreclosure properties, released its Q1 2008 U.S. Foreclosure Market ReportTM, which shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 649,917 properties during the first quarter, a 23% increase from the previous quarter and a 112% increase from the first […]

Bringing Back Bungalows - Affordable Prices, Great Design

By John Gallagher
RISMEDIA, April 30, 2008-(MCT)-Around the time Henry Ford was introducing the Model T, the house of choice for many young families with middle-class aspirations was the bungalow-quaint, affordable and picturesque.
Today, as economic times toughen and finding a mortgage becomes more difficult, the Arts and Crafts-inspired bungalow is once again winning favor with buyers […]

EDR Poll Reveals Demand to Apply New Vapor Intrusion Standard

RISMEDIA, April 29, 2008-Environmental Data Resources, Inc. (EDR), a provider of environmental risk information services and solutions, announced the results of a poll indicating a high level of awareness of the health, investment and liability risks associated with vapor intrusion. The poll also showed that environmental professionals (EPs), property buyers and lenders are eager to […]

Realtors, Mayors Recognize 6 Cities for Promoting Housing Opportunities

RISMEDIA, April 29, 2008-The National Association of Realtors(R) 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.
NAR and the U.S. Conference of Mayors, through its Council on the New American City, launched the […]

10 Steps to Bolster Selling Appeal

By Paul Owers
RISMEDIA, April 28, 2008-(MCT)-Selling your home in today’s depressed market might be as ambitious as drumming up positive PR for Britney Spears. With thousands of properties for sale, buyers know they have leverage, and they’re using it. They search a multitude of homes in a quest for the best combination of amenities and […]

America Says It’s Time for a Fix-up

RISMEDIA, April 28, 2008-According to the latest ‘Profile America’ brought to you by the U.S. Census Bureau, April is not only the kickoff for home improvement season but also National Decorating Month. With the market for new homes down considerably, many are deciding to fix up their current house and others are taking advantage of […]

Friday’s Featured Listing - Fairway Lakes at Viera

RISMEDIA, April 25, 2008-As one of the nation’s leading builders of luxury homes, Toll Brothers has spent more than 40 years staying connected with the unique needs and expectations of new home buyers. This spring, home buyers at Fairway Lakes at Viera are looking for unique and inspiring design in- and outdoors such as enhanced […]

Four Chicago-area Prudential Real Estate Companies Merge

RISMEDIA, April 25, 2008-Managing Partners of Prudential Preferred PropertiesCRE, David E. Hanna and William E. White, announce the merger of four Prudential Real Estate companies, Prudential Preferred PropertiesCRE, Prudential L.T. Blount Realtors®, Prudential Clark & Holm Real Estate, and Prudential SourceOne Realty. The four companies will now operate as Prudential SourceOne Realty and serve the […]

Fair Housing Month - Real Estate Associations Unite, Organize Mock Trial

RISMEDIA, April 24, 2008-In honor of Fair Housing Month, the Chicago Association of Realtors® (C.A.R.), together with the Realtor Partnership in Fair Housing, presented its annual fair housing event, consisting of a luncheon and mock trials to help educate Realtors about how to handle possible illegal actions they may encounter related to the Fair Housing […]

Existing-Home Sales Slip in March

RISMEDIA, April 23, 2008-Existing-home sales edged down in March, remaining within a narrow range of sales activity that has persisted since last September, according to the National Association of Realtors®.
Existing-home sales - including single-family, townhomes, condominiums and co-ops - were down 2.0% to a seasonally adjusted annual rate of 4.93 million units in March from […]

Prudential Gary Greene Creates Commercial Real Estate Services Division

RISMEDIA, April 23, 2008-Prudential Gary Greene, Realtors has launched a new division specializing in commercial transactions, announced Mark Woodroof, partner of the Houston-based company. “We are taking advantage of what we believe is a huge opportunity in the Greater Houston area,” said Woodroof.
Ray Allison has been tapped to serve as director of the Commercial Real […]

Steps to Save Energy on Earth Day, Minimize Footprint

RISMEDIA, April 22, 2008-In recognition of Earth Day, the National Association of Home Builders (NAHB) encourages home owners everywhere to take simple steps to reduce energy use - and to think green when they buy a new home.
“We are all proud of the significant steps our members have taken to make new homes more energy […]

Living Green in Your Home - Prudential Kansas City Realty Promotes Steps for Action

To join our Earth Day discussion of ways to ’green’ your life and your business, click here.
RISMEDIA, April 22, 2008-Prudential Kansas City Realty believes that going green doesn’t have to be overwhelming or costly. By making just a few small changes within your home, you can help decrease energy consumption and help make the world a […]

Seattle’s First Loft Brokerage Offers Innovative Urban Housing

RISMEDIA, April 22, 2008-In Seattle’s competitive real-estate market, a new business is offering a unique approach. Funkylofts, a company founded in 2007 under the umbrella of Ewing & Clark, one of the city’s oldest real-estate brokerage, is the first Seattle-based company to specialize in new and converted loft-like living spaces.
Gina Marie Clemen, Funkylofts’ founder and […]

NAR Commends Preston’s Nomination as HUD Secretary

RISMEDIA, April 22, 2008-The following is a statement by National Association of Realtors(R) President Richard F. Gaylord on last week’s nomination of Steve Preston for Secretary of the U.S. Department of Housing and Urban Development.
“On behalf of NAR’s more than 1.2 million members, I want to thank President Bush for moving quickly in nominating a […]

Friday’s Featured Listing - Sweetwater Condominiums in Mamaroneck, N.Y.

RISMEDIA, April 18, 2008-Houlihan Lawrence Project Marketing announces the Preview Opening of Sweetwater’s 2008 Pre-war styled model homes. The homes set a new standard for sophisticated and luxurious living in the charmed harbor town of Mamaroneck. Located in downtown Mamaroneck, developed by Iron Oak and Atlantic Realty Partners and designed by Sullivan Architects, it is […]

Leaders Team up to Bolster Real Estate Market

RISMEDIA, April 18, 2008-In the face of one of the most challenging real estate markets in recent years, a consortium of business and municipal leaders are joining forces to redefine the way people look at the metropolitan Detroit real estate market.
The Big Open House, a region-wide community open house, aims to highlight the unparalleled opportunities […]

New Jersey Real Estate - NJBA Unveils Proactive Solutions to State’s Housing Situation

RISMEDIA, April 18, 2008-From the 59th Annual Atlantic Builders Convention in Atlantic City, the New Jersey Builders Association (NJBA) announced its part in a series of initiatives designed to address New Jersey’s current housing situation. From regulatory matters, to the economy, to affordable housing options and stream-lining bureaucratic processes, NJBA is actively engaged in efforts […]

Houston Real Estate - Property Sales Retreat Further in March

RISMEDIA, April 18, 2008-Total property sales across greater Houston tumbled for the seventh consecutive month in March while sales of single-family homes edged up to the highest level so far this year, according to statistics released by the Houston Association of Realtors® (HAR).
Sales of all property types for March 2008 totaled 6,098, which represents a […]

REFIs, FHA Lead Increase in Latest MBA Weekly Survey

RISMEDIA, April 17, 2008-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending April 11, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 743.4, an increase of 2.5% on a seasonally adjusted basis from 725.6 one week earlier. On an unadjusted basis, the Index increased […]

Builder Confidence Remains Unchanged in April

RISMEDIA, April 17, 2008-Builder confidence in the market for new single-family homes remained unchanged for a third consecutive month in April, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The HMI held at 20, up marginally from the record low of 18 set in December of 2007 (the […]

Nation Now in Mild Recession, Says NAHB Chief Economist

RISMEDIA, April 17, 2008-The deepening slump in the nation’s housing markets has seriously eroded consumer sentiment and pushed the economy into a mild recession, according to the chief economist for the National Association of Home Builders (NAHB).
“The worse-than-anticipated housing downturn, combined with systematic weakening of the labor market and rapidly rising energy and food prices, […]

Foreclosure Activity Increases 5% in March

RISMEDIA, April 16, 2008-RealtyTrac(R) an online marketplace for foreclosure properties, released its March 2008 U.S. Foreclosure Market Report(TM), which shows foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 234,685 properties nationwide during the month, a 5% increase from the previous month and a 57% increase from March 2007. […]

Syndication Standard - NAR and Industry Partners Agree

RISMEDIA, April 15, 2008-The National Association of Realtors® and other industry members of the Real Estate Standards Organization have unanimously approved a draft standardized data format for distributing real estate listing information.
Real Estate Transaction Standard, an industry effort initiated by NAR and maintained by RESO, simplifies the process of sending real estate information by allowing […]

Nashville Real Estate - Home Sales Decline, Prices Hold Strong

RISMEDIA, April 15, 2008-There were 2,227 home closings reported for the month of March, according to figures provided by the Greater Nashville Association of Realtors®. This figure represents a 28.7% decrease compared with 3,126 closings in March of 2007.
Numbers for the first quarter were 5,763 closings, down 27.8% from the 7,990 closings during the first […]

Orlando Real Estate - Monthly Housing Sales Increase as Median Price Drops

RISMEDIA, April 15, 2008-Orlando’s housing marketing experienced a month-over-month increase in the number of home sales, an increase in the number of pending sales contracts, and a decrease in the amount of inventory - all baby steps toward a market balanced between buyers and sellers.
The monthly statistical reports released by the Orlando Regional Realtor® Association […]

Caribbean and Central America Second Home Sales Skyrocket in 2007

RISMEDIA, April 14, 2008-This week, ResortandResidence.com launches a new benchmark for real estate marketing in the Caribbean and Central America. According to the company, ResortandResidence.com is one of the only websites designed that exclusively showcases luxury lifestyle properties networking 30 countries.
The growth in the real estate sector in the Caribbean and Central America has been […]

Friday’s Featured Listing - When Opposites Attract

RISMEDIA, April 11, 2008-(MCT)-You may think there’s nothing good about the slump in the housing market. It may be bad news if you are trying to sell your house, but it’s great news for charities trying to find homes for their fundraising designer show house.
In boom times, it’s difficult for charities to find one house. […]

Philly Real Estate - February Pending Home Sales Decrease

RISMEDIA, April 11, 2008-The Greater Philadelphia region saw a 19.2% decrease in February real estate activity moving to an index of 70.2 from the downwardly revised January index of 86.8, according to The Prudential Fox & Roach, REALTORS® HomExpert Pending Home Sales Index©. The February index indicates the market is 41.7% lower than February 2007.
Compared […]

Utah Firm Joins Sotheby’s International Realty Network

RISMEDIA, April 10, 2008-Sotheby’s International Realty Affiliates LLC announced that Lewis, Wolcott & Dornbush Real Estate in Utah has joined its luxury real estate network.
The 16-year old firm has three offices in Park City and one in Salt Lake City. It is owned by R. Scott Webber and Bruce L. Shannon, and will do business […]

Chase and Prudential One, Realtors Team up to Speed Home Buying

RISMEDIA, April 10, 2008-Chase, a leading residential housing lender, and Prudential One, Realtors, a Prudential franchise in Ohio, announced they have formed a joint venture to streamline the home buying experience.
According to the two companies, the One Home Mortgage joint venture will be available for customers throughout Southwest Ohio with loan officers located in seven […]

How to Buy a Home ‘South of the Border’

RISMEDIA, April 10, 2008-Spending time south of the border has always been a favorite vacation option for Americans. But now, an extraordinary number of U.S. citizens are putting down roots in the sandy shores to the south and snapping up second homes in Mexico, Panama and neighboring locales. The numbers are remarkable.
“One and a half […]

Secret Shopper - Some Builders Ignoring Prospective Buyers

RISMEDIA, April 10, 2008-Two Denver-area marketing services companies released the results of a study of Colorado Front Range new home builders that reveals builders are spending millions of dollars luring prospective customers to their model communities only to ignore them after they visit.
The study was conducted in late 2007 by database marketing and lead generation […]

Existing-Home Sales to Stabilize Before Upturn in Second Half of 2008

RISMEDIA, April 9, 2008-Little change is expected in existing-home sales over the next few months, before improving notably during the second half of the year, according to the latest forecast by the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said the market will come into clearer focus this summer. “Existing home sales could start […]

Get Ready to Sell - Survey Says Consumers Want to Buy

RISMEDIA, April 9, 2008-Following more than two years in a real estate slump, a large majority of consumers surveyed say they want to buy real estate within the next two years, according to a new Housing Predictor poll.
According to the company, three out of four respondents to the online survey said they will be in […]

A Refreshing Report on the Status of Real Estate

Commentary by James A. Crumbaugh III
RISMEDIA, April 9, 2008-I’m going to buck the system: Everything I’m about to share with you goes against what you keep hearing and reading in the media.
First however, I have to share with you where and how I’m getting my information. Almost two-and-a-half years ago my partner and I sold […]

Vacation Home Owners - Why Your Getaway Is Still a Great Investment

RISMEDIA, April 8, 2008-The National Association of Realtors® numbers are out, and at first glance, they’re discouraging. According to NAR’s annual Investment and Vacation Home Buyers Survey, vacation home sales dropped 30.6 percent between 2006 and 2007. What’s more, median sale prices are down 2.5 percent. If you’ve recently purchased a vacation home (or maybe […]

Good News in CT Real Estate - Closed Home Sales Increase 31.9 Percent

RISMEDIA, April 8, 2008-Closed sales for single-family homes increased by 31.9 percent (from 451 to 595 homes) between February and last month, according to data from the Greater Hartford Association of Realtors® (GHAR). During the same period, the average days a home spent on the market decreased by 13.8 percent (from 82 to 72 days).
Pending […]

Sotheby’s International Realty Network Opens First Office in Japan

RISMEDIA, April 7, 2008-Sotheby’s International Realty Affiliates LLC announced the opening of Japan Sotheby’s International Realty, its first office in that country.
The office is owned by Urban Corporation, a rapidly growing, integrated real estate company. In July 2007, the Sotheby’s International Realty brand announced the signing of an exclusive 25-year licensing agreement for Japan with […]

Coldwell Banker Residential Brokerage Expands Sales Network

RISMEDIA, April 7, 2008-Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y. announced that it has acquired the assets of family-owned Preferred Properties Inc. in Connecticut. The approximately 80 sales associates in the Darien, Greenwich, New Canaan, and Westport offices of Preferred Properties Inc. will now operate under the banner of Coldwell Banker Residential […]

How to Make This the ‘Perfect Spring’ to Buy a Home

RISMEDIA, April 4, 2008-For home buyers, this might be called the “perfect spring,” when conditions have come together to create a rare and excellent opportunity to buy a home, says Diane Turton, broker of record at Diane Turton, Realtors. In fact, for the first time in 30 years, home buyers can take advantage of low […]

Friday’s Featured Listing - Living Luxuriously

RISMEDIA, April 4, 2008-As dual-residence lifestyles continue to boom and New York real estate becomes even murkier to navigate, buyers are looking for a Manhattan building that accommodates all of their needs without requiring massive disposable income.
The Atelier, a new 46-story residential development located at 635 West 42nd St., has become buyers’ go-to pied-a-terre destination […]

Prudential California Realty Solidifies Partnership with Finnegan’s Rainbow Inc

RISMEDIA, April 4, 2008-John and Therese Finnegan, owners of Prudential California Realty-Finnegan’s Rainbow Inc., which operates three offices on the Peninsula, announced that they have entered into a joint venture with Prudential California Realty, adding to the company’s network of 53 offices in Northern California. The joint venture will operate 56 offices throughout Northern California […]

Sotheby’s International Realty Network Continues European Expansion

RISMEDIA, April 4, 2008-Sotheby’s International Realty Affiliates LLC announced it is furthering its expansion in Europe with the signing of exclusive 25-year licensing agreements for six new regions.
The brand has secured development into Hamburg and Westphalia, Germany; Venice, Italy; Greece; the Czech Republic; and Slovakia with offices planned to open in each region by the […]

Manhattan Average Apartment Price Hits New Record

RISMEDIA, April 3, 2008-Demand for high-end real estate continues to buoy the market in Manhattan as the average apartment sale price hit a new record of $1,690,995 in the first quarter of 2008, according to Halstead Property’s First Quarter Market Report. The new record represents an increase of 47 percent from a year ago. The […]

Century 21 System Signs Master Franchise Agreement for Angola

RISMEDIA, April 2, 2008-Century 21 Real Estate LLC has announced that it has signed a master franchise agreement to license Century 21 franchises in Angola. Two Portugal-based companies, Gestipromo-Prestacao de Serviços de Promoção de Vendas e Marketing and Crismonte-Sociedade de Mediacao Imobiliaria, have partnered to become the master franchisee of the Century 21 System for […]

Second-Home Sales Accounted for One-Third of Transactions in 2007

RISMEDIA, April 1, 2008-The combined total of vacation- and investment-home sales declined with the overall market in 2007, but still accounted for 33% of all existing- and new-home sales, which is close to historic norms, according to the National Association of Realtors®.
The market share of homes purchased for investment last year was 21%, down from […]

Jackson to Step Down as HUD Secretary

RISMEDIA, April 1, 2008-U.S. Housing and Urban Development Secretary Alphonso Jackson announced he will be stepping down as the nation’s chief housing officer. Jackson will conclude his government service as the nation’s 13th HUD Secretary on April 18, 2008.
“During my time here, I have sought to make America a better place to live, work and […]

Depending on Where You Live, a Home’s Value May Affect Net Gain or Loss

RISMEDIA, April 1, 2008-While declining values and compressed equity have plagued many U.S. homeowners in recent years, the value of a home relative to others locally may very well influence how much equity a home lost or gained last year, according to new analysis by real estate website Zillow.com of its Q4 Home Value Report. […]

Friday’s Featured Listing: Coconut Grove’s Lofts at Mayfair

RISMEDIA, March 28, 2008-Lofts at Mayfair, an affordably luxurious loft project located in Coconut Grove, was honored as Best Loft at The Developers & Builders Alliance’s 2007 Community Advancement Awards held recently at Mar-a-Lago Club in Palm Beach, Florida. In 2006, Lofts at Mayfair won a gold medal for architecture at the BEST awards sponsored […]

New-Home Sales Move Down Further In February

RISMEDIA, March 28, 2008-Sales of new single-family homes fell by 1.8% in February to a seasonally adjusted annual rate of 590,000 units, according to newly released numbers from the U.S. Commerce Department. This sales pace was nearly 30% below a year earlier and down by 58% from the peak in July 2005.
“Builders have been pulling […]

Century 21 Declares April as National Open House Month

RISMEDIA, March 27, 2008-In an ongoing effort to help improve lagging consumer confidence in the real estate industry and further position its brand and real estate agents as professional champions, Century 21 Real Estate LLC announced April as CENTURY 21(r) National Open House Month. Participating Century 21 offices across the country are expected to hold […]

ICIC Releases New Study on Foreclosures in Inner Cities and Economic Stability of Urban Areas

RISMEDIA, March 27, 2008- Did you know that in America’s inner cities the foreclosure rates are two times higher than in the rest of the city and three times higher than elsewhere in the United States? This week, as part of the annual New York Inner City Economic Leadership Event, ICIC will release never before […]

California Real Estate - Sales Decrease 28.5%, Median Home Price Falls

RISMEDIA, March 26, 2008-Home sales decreased 28.5% in February in California compared with the same period a year ago, while the median price of an existing home fell 26.2%, the California Association of Realtors® (C.A.R.) reported this week.”Although sales rose for the fourth straight month in February by 9.5% compared with the previous month, they […]

Vintage Estates Realty Named Affiliate of Christie’s Great Estates

RISMEDIA, March 25, 2008-Vintage Estates Realty has been selected as an exclusive affiliate of Christie’s Great Estates. Through Vintage Estates Realty, buyers and sellers of high-end properties in the South Carolina communities of Pawleys Island, Georgetown, and Myrtle Beach now have access to the combined marketing efforts of Christie’s and Christie’s Great Estates.
“It is with […]

Tech-based Firm Helps Rout Mortgage Fraud

RISMEDIA, March 24, 2008-(MCT)-It’s the equivalent of a body cavity search, but for home loans. The 1003 AppScan, an automated Web-based filter, subjects mortgage applications to more than 150 tests designed to extract both little white lies and criminal schemes used to defraud lenders.
It is the signature service developed by Miami-based Verification Bureau, a fraud […]

Friday’s Featured Listing: New ‘Most Expensive Home Sold’

RISMEDIA, March 21, 2008-Just as the financial news is buzzing with reports of the $236 million Federal Reserve-backed bail-out of Bear Stearns by JP Morgan Chase, The Times of London reports that a flat in central London has sold for a record-setting price of between £115 million and £120 million ($230 million to $240 million). […]

The Real Estate Numbers Are in - Realogy Reports 2007 Results

RISMEDIA, March 21, 2008-Realogy Corporation, a global provider of real estate and relocation services, reported results for the fourth quarter and full year 2007. The 2007 full-year results are reported on a pro forma combined basis. They have been prepared to give effect to the Company’s April 10, 2007 acquisition by Apollo Management L.P. and […]

Texas Real Estate - Monthly Report Shows Little Change in Central Texas Housing

RISMEDIA, March 21, 2008-According to the latest Multiple Listing Service (MLS) report, the median sales price for homes in Central Texas grew 2% in February. Single-family home sales were 10% lower than during the same period in 2007.
February 2008 single-family home sales totaled 1,553, a 10% decrease from last year. The median price of single-family […]

Builder Confidence Remains Unchanged in March

RISMEDIA, March 19, 2008-Builder confidence in the market for new single-family homes remained unchanged in March, according to the latest NAHB/Wells Fargo Housing Market Index (HMI), released today. The HMI held firm at 20, which is near its historic low of 18 set in December of 2007 (the series began in January of 1985).
“Our surveys […]

Why are Internet Buyers Buying? Or are they?

By Glenn Houck
RISMEDIA, March 19, 2008–In today’s market, there is a lot of gloom and doom that there are no buyers in the market. At LeadQual, we act as a Rapid Response unit for some of the largest and most sophisticated brokers in the U.S. In providing this service, we instantly respond to thousands of […]

Prudential Gary Greene Realtors, Wells Fargo Home Mortgage Announce Joint Venture

RISMEDIA, March 19, 2008-Houston-based Prudential Gary Greene Realtors announced the launch of a joint venture with Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A. The joint venture, named Gibraltar Mortgage Services, will originate and fund mortgage loans for clients of Prudential Gary Greene, Realtors.
According to the company, the new venture will offer […]

HUD Proposes Mortgage Reform to Help Real Estate Consumers

RISMEDIA, March 18, 2008-In an effort to significantly improve the complicated, unclear and costly home buying process, U.S. Housing and Urban Development Secretary Alphonso Jackson proposed mortgage reform designed to help consumers better understand their loan terms so that they can shop more effectively for the largest purchase of their lives.
HUD’s proposal reforms the more […]

Prudential Real Estate Affiliates, Inc. Teams with Gonzales Group

RISMEDIA, March 18, 2008-The Gonzales Group, the preeminent business consulting and research firm in the field of multicultural markets, has been selected by Prudential Real Estate Affiliates, Inc. to provide its affiliates with strategies for serving multicultural home buyers and sellers. The Gonzales Group will develop strategies and tactics for local affiliates, which will include […]

Hawaii Real Estate - Prudential Locations Releases ‘State of Real Estate’ Report

RISMEDIA, March 18, 2008-Prudential Locations, Hawaii’s largest locally owned and operated real estate company, unveiled its special “State of Real Estate” report. The new, comprehensive report is designed to provide consumers with expert insight into Hawaii’s 2008 real estate market-featuring well-known real estate research expert Dr. Mike Sklarz of New City Technology and Bank of […]

6 Signs to Look for In Hopes of a Housing Recovery

By Shelly K. Schwartz
RISMEDIA, March 14, 2008-(Bankrate.com)-The housing market these days can best be described as a moving target. Some metros have gone from white-hot to ice-cold in just a couple of years, while other cities are just now hitting their stride.
“There’s so much going on and so many different trends across the country that […]

4 Steps to Solving the Housing and Credit Crisis

RISMEDIA, March 17, 2008-The President’s Working Group (PWG) on Financial Markets, which includes Treasury, the Fed, CFTC and SEC, issued a report this week, on the causes of the recent market turmoil and proposed solutions. “This report contained perhaps the most well reasoned diagnosis I’ve seen of the problems being faced and the solutions available,” […]

Top Boston Firm Welcomed into Exclusive Luxury Real Estate Board of Regents

RISMEDIA, March 17, 2008-Hammond Residential GMAC Real Estate, well-known in the Greater Boston area as a trusted source of real-estate services, has been accepted into the Luxury Real Estate Board of Regents, an exclusive group of leading brokers.
Formed in 1991 by Saul B. Cohen and Joseph Hare, Hammond Residential GMAC now has 220 agents and […]

Friday’s Featured Listing: How Would You Market a Once-in-a-Lifetime Purchase?

RISMEDIA, March 14, 2008-The opportunity really is once in a lifetime in Atlanta. The Troy-Peerless building, recognized on the National Register of Historic places as one of the city’s last remaining examples of small scale Art-Deco Architecture, has opened its doors to offer individual loft condominiums for purchase.
Discerning property owners, investors and history enthusiasts have […]

Foreclosure Activity Decrease 4% in February, Up Nearly 60% from February 2007

RISMEDIA, March 14, 2008-RealtyTrac®, an online marketplace for foreclosure properties, released its February 2008 U.S. Foreclosure Market ReportTM, which shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 223,651 properties nationwide during the month, a 4% decrease from the previous month but still a nearly 60% increase from […]

NJAR Makes Its Mark on Capitol Hill

RISMEDIA, March 13, 2008-Members of the New Jersey Association of REALTORS® (NJAR) 2008 leadership team visited Capitol Hill in Washington, D.C. last week to discuss key issues that have an impact on property owners and the real estate industry, including “The Community Choice in Real Estate Act.” NJAR President Drew Fishman (Northfield, NJ), President-Elect Diane […]

More Homeowners Are Just Walking Away

RISMEDIA, March 12, 2008-(MCT)-Owing more on properties than they’re worth, some local homeowners are voluntarily walking away from their house notes.
“They don’t need to be foreclosed on. They’re just turning in the keys,” said Martha Lucey, president and chief executive officer of Fresno-based nonprofit credit counselors, By Design Financial Solutions. “The problem we’re seeing is […]

Orlando Real Estate - February Sees Start of Spring Selling Season

RISMEDIA, March 12, 2008-Orlando’s housing marketing upheld its annual tradition in February with a month-to-month increase that heralds the start of the spring selling season. The 922 sales that took place in February 2008 are a 13.4% increase over January 2008’s 813 sales; however, sales in February 2008 are down by 40.17% when compared to […]

Condo Market - Builder Confidence Declines Again

RISMEDIA, March 12, 2008-The Multifamily Condo Market Index (MCMI) ended 2007 on a low note, with the component of the index tracking builder confidence in current conditions standing at 18.8, down nearly 11 points from the same time a year ago, according to the National Association of Home Builders (NAHB).
“Given that the condo market became […]

Some Positive Signs Visible in the Real Estate Market

RISMEDIA, March 11, 2008-Bright spots appear within the negative outlook, according to the RPX Monthly Housing Market Report released by Radar Logic Incorporated.
“Despite the continued flow of bad news from the housing markets, several of the cities tracked by RPX are sending positive signals,” said Michael Feder, chief executive officer of Radar Logic Incorporated.
Key Points […]

How to Tap Your Retirement Assets to Achieve Real Estate Dreams

RISMEDIA, March 11, 2008–How many times have you run into eager real estate investors who had the bulk of their money tied up in retirement plan assets-and believed they had no way to tap those assets? Now you can help those clients and yourself utilize retirement assets to the fullest. How? By accessing a third-party […]

Flat Existing-Home Sales Likely Before Gradual Recovery, Says NAR

RISMEDIA, March 10, 2008-The volume of existing-home sales is expected to hold steady through late spring, with a gradual recovery during the second half of the year as the mortgage situation improves in high-cost areas, according to the latest forecast by the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said many buyers have been […]

World Trade Center Developer to Speak on the Future of Lower Manhattan

RISMEDIA, March 10, 2008-The Center for Real Estate Studies at New York Law School presents its one-year anniversary breakfast forum with World Trade Center developer Larry Silverstein speaking on “Building the Future of Lower Manhattan,” on Thursday, March 13, 2008 at 8:15 a.m. at the Law School, located at 47 Worth Street.Larry Silverstein is the […]

Fannie Mae CEO Talks Foreclosures, Loans and HOPE at NAHB Conference

RISMEDIA, March 10, 2008- Fannie Mae’s CEO Dan Mudd recently spoke to homebuilders and others who attended the annual National Association of Home Builders (NAHB) 2008 International Builders’ Show in Orlando, Florida. In his remarks, he discussed the state of the mortgage and credit markets, and how Fannie Mae is addressing the market upheaval. Specifically, […]

Looking to Connect with Consumers? Lowe’s Has the Answer

RISMEDIA, March 20, 2008-As a value-added benefit to its Program for REALTORS®, Lowe’s is proud to announce that in April it will launch a new, monthly e-mail that will allow Realtors to keep in touch with their clients. This customizable e-mail is exclusively available only to Lowe’s Program for REALTORS® members.The monthly e-mail-Lowe’s Homeowner’s Handbook-offers […]

Home Sweet Home — StyleDesigner Allows Consumers to Scratch Their Nesting Itch

RISMEDIA, March 4, 2008-In a time when home buyers need every reassurance that they are making the right purchase, Obeo has developed a high-tech way to meet this very basic buyer need.
The consumer-engaging StyleDesigner allows buyers to virtually remodel a home to reflect their style as well as their brand preferences.
Here’s how: By working with […]

NeighborWorks America Seeks Nonprofit Solutions to Growing Number of Empty Homes

RISMEDIA, March 4, 2008-As foreclosed properties left vacant or abandoned are destabilizing communities across the country, a growing inventory of real estate-owned (REO) properties by lenders and servicers is generating new ideas at NeighborWorks® America. Top neighborhood stabilization strategies under development include a national entity created by nonprofit organizations to facilitate the disposition of REO […]