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Nov

10
2009

The coming civil war in real estate

By Notorious R.O.B., Tuesday, November 10, 2009.

On Nov. 6, at roughly 3:15 p.m. Eastern Standard Time, the National Association of Realtors declared war on the rest of the real estate industry. To be fair, NAR probably did not realize that it did so. Judging by the initial responses, it doesn't appear to me that most people see what I saw. But, probably because of my twisted nature and my penchant for focusing on the dark side of human nature, I am predicting nothing short of civil war in the real estate industry going forward unless Realtors Property Resource (or RPR) in its current form is immediately scrapped.

What brings forth such hyperbole?

RPR, or Realtors Property Resource, was a project shrouded in secrecy. Brian Larson's post of October 19th, 2009 is a pretty good pre-unveiling summary of the questions and concerns around RPR.  more...

Nov

9
2009

RPR madness! NAR unleashes national property database with Cyberhomes

By Brian Boero, Monday, November 9, 2009.

The NAR has taken over certain technology assets of Cyberhomes from LPS (formerly known as FNRES) in order to bring its RPR (Realtors Property Resource) project, as well as its consumer-facing play, HouseLogic, to market. To do this, they have created Realtors Property Resource LLC -- a wholly owned subsidiary of the NAR.

Certain LPS executives, including Cyberhomes GM Marty Frame, will be making the transition over to NAR/RPR. Frame will serve as the president of the new entity. Dale Ross, who was co-founder of MRIS, the nation's largest MLS, will be CEO. LPS will also provide call center support and other services as part of the deal.  more...

Agent wins battle over open house signs

By Curbed.com, Monday, November 9, 2009.

WEST HOLLYWOOD, Calif. -- Remember Ronald Shore, that real estate agent who launched a campaign to change West Hollywood's open house sign rules? Unlike other cities, West Hollywood forbids the placement of "open house" signs on street corners, which means agents have to get permission to plant the signs on neighbors' lawns if they want to drive traffic to their open houses.

Additionally, West Hollywood's rules forbid the listing of addresses or real estate firm names on signs that aren't on the listed property itself (signs down the corner, for instance, can show only a directional arrow and the words "open house"). And, most heinously, the city bans the planting of flags on open house signs, although agents can currently plant three flags on the lawn of the listed house.  more...

NAR leaps into the fray -- in a big way

By , Monday, November 9, 2009.

The Realtors Property Resouce (RPR) is likely the most important technology story of the last few years. And it will probably be the most closely watched story for the next couple of years too.

What is the RPR? Brian Boero from 1000Watt Blog sums it up nicely.

"The NAR has taken over certain technology assets of Cyberhomes from LPS (formerly known as FNRES) in order to bring its RPR (Realtors Property Resource) project, as well as its consumer-facing play, HouseLogic, to market. To do this, they have created Realtors Property Resource LLC -- a wholly owned subsidiary of the NAR."  more...

Recreate your real estate image

By Inman News, Monday, November 9, 2009.

Moving is never fun. Well, I take that back.

It could be fun if you were really smart (and/or wealthy) and hired movers to do everything from the packing to the lifting and the unpacking to the decorating ... and then making you dinner the first night in the new place. Then, I guess, it wouldn't be so bad.

I just moved to a new town. New house, new puppy, new brokerage, and now: a new vision. My new brokerage has set me up with two marketing consultants full of enthusiasm and pithy advertising jargon; of course I'm going to take advantage of it!  more...

Nov

3
2009

Tax credit leaves some behind

By Inman News, Tuesday, November 3, 2009.

Re: 'House leader: Tax credit a go' (Nov. 3)

Dear Editor:

The government is still going to be selecting a certain part of the population to not get housing credits. It really isn't fair that those who could afford to move in the last five years and didn't lose their home to foreclosure or short sales don't get the same consideration that others do.

If the government wants to be fair, it should give every homeowner the $6,500 credit and give the $8,000 credit to new homebuyers. The government appears ready to give anyone who buys a home a credit and anyone who has continued to live in their home for the last five years a credit.  more...

Nov

2
2009

S.F. homebuyer program low on dough

By Curbed.com, Monday, November 2, 2009.

SAN FRANCISCO -- The Mayor's Office of Housing has joined the banks in tightening its purse strings, or putting its plastic in the freezer, as it were. As a result, potential homebuyers who would otherwise be eligible for the city's loan program are getting frozen out.

The downpayment assistance loan program, which offers loans for first-time homebuyers who are within a certain range of the city's median income, is "running low" on funds -- and is "therefore restricting limited funds to stabilize those communities with the greatest need."  more...

Oct

30
2009

The next wave of foreclosures

By Inman News, Friday, October 30, 2009.

Re: 'California official warns of loan resets' (Oct. 30)

Dear Editor:

The number of option-ARMs (adjustable-rate mortgages) ready to reset is amazing in California. Not only did the balance go sky high but they are so underwater. Some are paying the negative amortization payment because it's affordable. Some are choosing to walk.

If the servicers do nothing, there is going to be a huge -- and I mean huge -- wave of foreclosures. People seem not to care anymore. They seem to be saying, "Pay me to keep this house that is underwater by $200,000."  more...

Oct

29
2009

Job loss spreads foreclosures

By Inman News, Thursday, October 29, 2009.

Re: 'Foreclosures spread from bubble markets' (Oct. 28)

Dear Editor:

I am not surprised that foreclosures are spreading from the initial core markets to areas that we thought more conservative. These are the people out of work for which there is no voice and no recourse politically. Banks were allowed to sell mortgages to unqualified or marginally qualified borrowers to feed Wall Street.  more...

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