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Today’s Top Story Archive


Thoughts on Eliminating the Mortgage Interest Tax Deduction from Rick Sharga, EVP, Carrington Mortgage Holdings

The fate of the mortgage interest tax credit seems to be on everyone’s mind at the moment. I get asked about it pretty much everywhere I go these days, from business meetings to media interviews – even casual discussions at holiday parties. People are afraid of this happening, though not everyone sharing their worries seems to fully grasp what losing this credit might mean beyond what it might cost them personally.


Become a Confident, Knowledgeable Short Sale Agent

REOs are not as prevalent as they once were due to the increasing popularity of short sales. With the inventory of traditional sales much lower than it has been in the past, short sales are here to stay. Short sales demand time, knowledge, expertise and constant communication. Agents must become experts in the short sale market, because regardless of the name, short sales are not short, and they create anxiety for all parties involved. Furthering your knowledge and expertise will ultimately expand and increase your business,


The Real Estate Educator: Lurking in the Shadows

With all the good news in the market, from strong housing demand to rising prices, we can’t ignore shadow inventory. Not only does shadow inventory exist, it will have an impact on all markets for some time to come. In this time of confusion and misunderstanding, every agent needs to have a basic understanding of shadow inventory and must be able to explain its impact to consumers. Shadow inventory refers to the inventory of homes not yet for sale that will eventually come on the market sometime in the near future. Although most people believe shadow inventory to be the group of distressed homes in some phase of foreclosure,


Brokers, Have You Married Your Offline Brand with Your Online Presence?

Nationwide, brokers are struggling to combine their traditional operating model with the new, fast-paced online environment where agents and consumers live. Despite our rapidly evolving online culture, most real estate brokerages remain offline. I would argue it’s mainly because brokers and their management teams have been unable to figure out how to meld the two effectively. But today, a broker’s branding effort must work together to meet the demands of their consumers. Here are a few examples of the issues brokers struggle with every day:


4 Ways to Embrace Omnichannel Marketing in 2013

With their holiday plans locked in, most chief marketing officers are turning their focus to 2013. At the center of their attention is omnichannel retailing, a phenomenon that for many brands is as compelling as it is confounding. The concept of omnichannel is enticing to marketers because it reflects the reality of how consumers ultimately form their purchasing decisions today. The reality is this: Consumers are everywhere, continually tapping into a spiraling array of marketing channels and touch points. Some channels (e.g., TV commercials and point-of-sale systems) have been around for decades,


CoreLogic® Releases December MarketPulse Report

CoreLogic, a leading provider of information, analytics and business services, recently released its December MarketPulse report. The monthly publication provides insight into the health of the U.S. economy with emphasis on housing and mortgage metrics. CoreLogic Chief Economist Mark Fleming and Principal Economist Sam Khater , along with colleagues from the CoreLogic Office of the Chief Economist, authored the articles. This month's edition includes commentary by CoreLogic President and CEO Anand Nallathambi on the housing market recovery in the year ahead. Key findings in the December MarketPulse report include:


Don’t Settle for Good Enough

From luxury automobiles to high-tech electronics, the phrase "made in Japan" is synonymous with quality and reliability. The Japanese have a well-deserved reputation for their relentless pursuit of excellence, but it wasn't always that way. At the end of WWII, many Japanese cities lay in ruin, its manufacturing base destroyed and its economy devastated. General Douglas McArthur assembled a team of American business consultants to spearhead the rebuilding of the Japanese economic recovery. Dr. W. Edwards Deming, a statistician who worked at the US census bureau, was selected as a member of that distinguished team.


Innovative or Absurd? Racy Listing Video Goes Viral

Here at RISMedia, we love to see what real estate professionals around the world are doing to better their business and sell homes. So when the following videos surfaced featuring lingerie-clad super models and a bare-bottomed man strutting his stuff through a property “so private, you can walk around naked,” we couldn’t wait to share. While these videos—put out by Australian company Neo Property--are controversial, there is no arguing that they were made to sell the listings quickly. Sex sells, after all. The video for 15 Queen Anne Court went viral, landing over 1.6 million views.


Realogy Chairman Signs CEOs’ Letter to President and Congress on Smart Reforms and the Fiscal Cliff

Richard Smith, Chairman, President and CEO of Realogy Corporation, was among over 150 chief executive officers whose signature was included on a letter to the President and Congress this week that calls for “smart reforms” related to the so-called fiscal cliff. Smith along with 158 other CEOs sent the letter on behalf of the Business Roundtable, an association of chief executive officers of leading U.S. companies with more than $7.3 trillion in annual revenues and nearly 16 million employees. The letter released this week is as follows:


Treasury to Announce Big Changes to HAFA Program

The U.S. Treasury Department will be making some changes to the HAFA Program in 2013, and as a real estate professional, these changes will affect short sales in your local market. To prepare yourself for the upcoming changes, you can view this live webinar that will take place on December 17th at 4 p.m. ET with Laurie Maggiano, the Treasury's Director of Public Policy and Alex Charfen, CEO and author of the Certified Distressed Property Designation. During this live streaming broadcast, Maggiano and Charfen will discuss how these changes will impact the speed and success of your short sales and the foreclosure inventory that reaches our markets.


More Americans Believe Economy Headed in Right Direction

Despite continued uncertainty surrounding the fiscal cliff, Americans are showing increased confidence in the housing market and the direction of the economy. According to results from Fannie Mae’s November 2012 National Housing Survey, such improvement bodes especially well for continued strengthening in the housing sector, which in turn is likely to support overall economic growth. “Consumer attitudes toward both the economy and the housing market continue to gather momentum, with many of our 11 key National Housing Survey indicators at or near their two-and-a-half-year highs,” says Doug Duncan, senior vice president and chief economist of Fannie Mae.


Unemployment in U.S. Falls to 7.7 Percent

(MCT)—The nation’s unemployment rate dropped from 7.9 percent to 7.7 percent last month — the lowest in nearly four years — as businesses added another 146,000 jobs, the Labor Department reported Friday morning. The job gains were close to the average of 151,000 a month so far this year — enough new openings to slowly put the 12 million people who are job-hunting back to work. Nearly 50,000 fewer jobs were created in September and October than originally reported by the department, however, according to revisions based on more complete information from the states. The rate is lowest recorded since December 2008, just before President Obama took office.


NAHB Announces Best of 50+ Housing Awards Finalists

The National Association of Home Builders (NAHB) has announced the finalists for NAHB’s 2013 Best of 50+ Housing Awards, the premier design and marketing competition for the 50+ housing industry. A total of 83 entries were chosen as finalists and are eligible for either a Gold or Silver Award from NAHB’s 50+ Housing Council. “This year’s finalists showed us how important it is to incorporate features and amenities that fit the lifestyle of the buyers and residents of their properties, “says NAHB 50+ Housing Council Chairman W. Don Whyte.


Number of Improving Housing Markets Surges to 201 in December

The number of housing markets considered “improving” according to parameters established by the National Association of Home Builders/First American Improving Markets Index (IMI) surged by 76 to a total of 201 metros in December, according to recently release IMI data. The index also shows that the number of states represented on the list by at least one metro increased from 38 in November to 44 (plus the District of Columbia) in December. The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months.


More Market Turnaround Evidence: Foreclosures Down in October

(MCT)—The number of homes in foreclosure dropped in October from the previous month and was down 9 percent for the year as the housing market showed signs of improvement. About 1.3 million homes, or 3.2 percent of all U.S. homes, were in any stage of the foreclosure process in October, down from 1.4 million homes in September, according to data released Monday by Irvine, Calif., research firm CoreLogic. The number of completed foreclosures also dropped in October, to 58,000 from 77,000 the month before, the company said. That marked a 25 percent decrease.


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