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Today’s Top Story Archive


Industry’s Most Powerful Associations Send Letter to Administration Advocating for Extension of Homebuyer Tax Credit

RISMEDIA, October 20, 2009—The Mortgage Bankers Association (MBA) along with the National Association of Realtors (NAR) and the National Association of Homebuilders (NAHB) sent a letter to senior Obama Administration officials yesterday requesting their support for a 12-month extension of the first-time homebuyer tax credit.  The letter, addressed to Treasury Secretary Geithner,


Looking Toward the Future – How Should Home Equity Figure into Your Retirement Planning?

RISMEDIA, October 19, 2009—(MCT)—When it comes to planning for retirement, there are many questions to answer. But to Anna Rappaport, there are three that matter and perhaps one that doesn't get enough attention: When should you retire? When should you collect Social Security? And what should you do about the equity in your home?  If you get the answers to those questions right, you've pretty much got retirement right,


A Fix-Up Strategy Works in Long Run: If You Have Time on Your Side, Improve and Enjoy Your Home

RISMEDIA, October 17, 2009—(MCT)—You're thinking of selling—but not just yet. Let's say you've got a five-year plan to prepare an older, lived-in house for sale.  Maybe you're faced with tattered carpets, battered appliances and dingy paint. Or maybe we're talking about truly scary problems, such as asbestos, underground oil tanks or leaking roofs.  What should you take care of first? What can wait? What can be ignored altogether?


$8,000 Tax Credit’s Hoops Frustrate House Hunters

RISMEDIA, October 16, 2009—(MCT)—This summer, Brian Smith decided he should buy a house. Prices were at record lows; "for sale" signs were common, and, most important, he could get a tax credit of as much as $8,000 for first-time buyers if he bought before December. But four months later, after looking at more than 40 houses and condominiums, Smith quit his search in frustration.  "Honestly, my heart was so broken," said Smith, an associate at a financial-investment company. "I hate that I am going to miss out


Don’t Miss RISMedia’s Power Broker Forum at NAR in San Diego: Maximizing Distressed Property Business

RISMEDIA, October 15, 2009—All NAR full-conference and day-conference attendees are encouraged to attend “Maximizing Distressed Property Business,” RISMedia’s annual Power Broker Forum being held Friday, November 13 from 12:30-2 p.m. at the San Diego Convention Center during the NAR conference.  Why should you attend? Each year, attendees walk away from the Power Broker Forum with tremendous insight into the best practices that have made our panelists


Changing Recruiting Strategies to Bolster Sales: How to Hire Agents Who Will Produce

RISMEDIA, October 13, 2009—As the real estate market continues to shift, recruiting strategies must be constantly evolving so that real estate professionals are always bringing agents who will produce into their office. While some markets that have remained strong throughout the past few years have found recruiting success by sticking to the basics, others have had to fine-tune the way they recruit in order to attract


Equity Financing – A Solution to Today’s Housing Crisis?

RISMEDIA, October 12, 2009—As the housing market continues to struggle its way toward stabilization, Steve Cinelli, founder and chief strategy officer at PRIMARQ, discusses the notion of equity financing and how he and his team are working with leaders in Washington, D.C., to change the face of real estate. “As the housing market began to crumble and financial institutions began to fail,


Overcoming Fear of Foreclosure Critical for Many People to Keep Their Homes

RISMEDIA, October 10, 2009—Foreclosure numbers continue to rise and many homeowners are at an increased risk of losing their home. While foreclosure can be prevented, many homeowners remain confused or afraid to confront their mortgage problems and take action to help save their home. "Fear often prevents many consumers from seeking help," said Michelle Jones, senior vice president of counseling for Consumer Credit Counseling Service (CCCS) of Greater Atlanta, Inc. "Overcoming these fears can mean the difference between staying in your home and losing it."


U.S. Homebuyers Pay Closer to Listing Price in August, but Are Still Negotiating Thousands in Discounts

RISMEDIA, October 9, 2009—Home buyers in much of the U.S. are still paying thousands of dollars below the home's asking price, but had slightly less negotiating power in August 2009 than they did in July, according to the August Zillow Real Estate Market Reports. Buyers paid a median $6,525, or 3% less than the last listing price on homes bought in August, down from $7,018, or 3.3%, less for homes bought in July. Negotiating power peaked in January 2009, when buyers were paying 4.5% less than last listing price, a median of $10,096.


1.4 Million Families Have Taken Advantage of First-Time Home Buyer Tax Credit, More Claims Expected

RISMEDIA, November 2, 2009—With the First-Time Home Buyer Tax Credit deadline quickly approaching, the Internal Revenue Service recently reminded potential home buyers they must complete their first-time home purchases before Dec. 1, 2009 to qualify for the special first-time home buyer credit*. The American Recovery and Reinvestment Act extended the tax credit, which has provided a tax benefit to more than 1.4 million


‘Teal Is the New Green’: How One Company’s Focus on the Environment Is Creating New Marketing Strategy for Agents

RISMEDIA, October 7, 2009—“The environment will be one of the great challenges of the 21st century. Soon it will dominate virtually all aspects of life in North America—socially, politically and economically. Today’s great leaders and entrepreneurs must look at environmental problems as an opportunity to set themselves apart from the competition.”  - Steve Morris, Founder and CEO, EXIT Realty Corp. International


Finding Your Dream Foreclosure: What to Know When You’re Buying an REO Property

RISMEDIA, October 5, 2009—(MarketWatch/MCT)—Buying a foreclosure often is appealing to buyers trying to stretch their dollars. It's finding a good one can that can be a challenge. "The vast majority of the banks don't want us to advertise them as 'bank-owned' because


Record Streak Continues for Pending Home Sales

RISMEDIA, October 3, 2009—Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.  The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August 2009, rose 6.4% to 103.8 from a reading of 97.6 in July, and is 12.4% above August 2008 when it was 92.4.


First-Time Homebuyers Buoy Real Estate Market

RISMEDIA, October 2, 2009—(MCT)—The housing market is getting a much-needed boost as first-time homebuyers rush to take advantage of an $8,000 federal tax credit that is set to expire Nov. 30, 2009.  The incentive is helping to slow the decline in home sales. In August, sales were down 1% over the comparable period last year, the smallest year-over-year decline in any month since late 2007. As Congress considers extending the credit, real-estate agents and home builders worry sales could slump again if it's allowed to expire.


Credit Woes to Threaten Housing Recovery?

RISMEDIA, September 30, 2009—Nearly two-thirds of single-family home builders are reporting a severe lack of credit for housing production, threatening the fragile housing recovery before it has time to take hold, according to a new builder survey of acquisition, development and construction (AD&C) financing conducted by the National Association of Home Builders (NAHB).  “Across the country, home builders and developers are reporting a deterioration in credit availability and intensifying pressure on borrowers with outstanding loans,” said NAHB Chairman Joe Robson, a home builder from Tulsa, OK.


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