Uncertainty, QE3 push mortgage rates to new lows

Demand for purchase loans rebounding after Hurricane Sandy

BY INMAN NEWS, THURSDAY, NOVEMBER 15, 2012.

Inman News®

Percent sign image via Shutterstock.

With U.S. lawmakers heading toward the edge of the "fiscal cliff," government-backed mortgage bonds that fund the vast majority of home loans are looking like a safe haven for investors, helping push mortgage rates to new lows.

Rates on 30-year fixed-rate mortgages averaged 3.34 percent with an average 0.7 point for the week ending Nov. 15, down from 3.4 percent last week and 4 percent a year ago, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

That's a new low in Freddie Mac records dating to 1971. In the four decades that Freddie Mac has conducted the mortgage market survey, rates on 30-year fixed-rate loans had never been below 4 percent until last year.

The survey showed rates on 15-year fixed-rate mortgages averaging 2.65 percent with an average 0.7 point, down from 2.69 percent last week and 3.31 percent a year ago. That's also a new record in Freddie Mac records dating to 1991.

Look beyond real estate for new ideas

An Air Force colonel's strategy for dealing with rapidly changing environments

BY GAHLORD DEWALD, WEDNESDAY, OCTOBER 17, 2012 Inman News®

Col. John Boyd image via Wikimedia Commons

Those of you who have seen me speak more than once have probably heard me make reference to the OODA Loop. OODA is an acronym of observe, orient, decide and act. As the name implies, the process is a loop. Once you have done something (act), you see what the results are (observe) and continue on through the loop again. Practiced well, it's a self-correcting system.

OODA helps us deal with rapidly changing environments, and everyone who is in business today is working in a rapidly changing environment.

The OODA Loop was developed by John Boyd, an Air Force colonel whose ideas were adopted by the Marines. OODA was made to help overcome the challenges of a constantly changing environment in which errors are far more costly than the errors any of us make in digital marketing.

This past week I was honored to have the opportunity to present at the Boyd and Beyond Conference at the Marine Corps base in Quantico, Va. This was two straight days of theory related to Boyd's work, sharing of stories from his life (given that he was an Air Force guy working most closely with the Marines, I'm sure you can appreciate that there were some very interesting stories) and examples in a variety of fields.

By all accounts, Boyd had an expansive appetite for ideas beyond his immediate discipline. This was confirmed by a review of his papers and books at the Marine Corps Archives & Special Collections during the conference.

Realtors seek details of 'secretive' REO bulk sales

Fannie, Freddie regulator says it will release 'pertinent information' when deals close

BY ANDREA V. BRAMBILA, THURSDAY, AUGUST 30, 2012.

Inman News®

Spotlight image via Shutterstock.

California Realtors say Fannie Mae and Freddie Mac's federal regulator is moving forward with bulk sales of real estate owned (REO) homes in "a highly secretive manner," without giving full consideration to the objections of California lawmakers or the program's potential negative economic impact on housing markets and cost to taxpayers.
The Federal Housing Finance Agency is implementing an "ill-conceived" plan while "refusing to disclose any details, such as property locations, final property count, sales price, or names of winning bidders," said LeFrancis Arnold, president of the California Association of Realtors, in a statement
FHFA, the federal regulator that oversees Fannie Mae and Freddie Mac, announced last year that was considering bulk sales of properties to investors, with the goal of converting REO properties into rentals.
After collecting feedback and under pressure from lawmakers to move forward with the program, FHFA in February announced the launch of a pilot initiativetargeting bulk REO sales in metropolitan areas "hardest-hit" by the foreclosure crisis, including Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida.

10 expenses you can deduct when renting out a room Real Estate Tax Talk

BY STEPHEN FISHMAN, FRIDAY, AUGUST 3, 2012 Inman News®

Tax forms image via Shutterstock.

Lots of people are trying to earn a few extra bucks by renting out a room in their home. This can not only be a good source of income, but result in tax deductions.

If you rent out a room in your home, the tax rules apply to you in the same way as they do for landlords who rent out entire properties. This means you get to deduct the expenses arising from your rental activity.

There is one big difference, however: You must divide certain expenses between the part of the property you rent out and the part you live in, just as though you actually had two separate pieces of property.

You can fully deduct (or, where applicable, depreciate) any expenses just for the room you rent; for example, repairing a window in the room, installing carpet or drapes, painting the room, or providing your tenant with furniture (such as a bed).

Realtor tries a new tack with music video Lip-synced spot designed to get clients to 'Call Me Maybe'

BY PAUL HAGEY, WEDNESDAY, JULY 25, 2012 Inman News®`

Video camera image via Shutterstock.

A Realtor in North Carolina is trying (tongue-in-cheek) a new tack to get potential clients to call -- making a music video. Call me, maybe?

Justin Bieber's done it. TheHarvard Baseball team's done it. Katy Perry's done it. The Miami Dolphins Cheerleader shave done it. Now a Realtor has done it.

Jessica Edwards, 30, an agent with Coldwell Banker Sea Coast Realty in Wilmington, N.C., got seven girlfriends together on a Monday evening a couple of weeks ago, hired her listings videographer and filmed a lip-synced music video of Carly Rae Jepsen's hit pop song, "Call Me Maybe," currently the No. 3 single in the iTunes Music Store.