There's still time to break into REOs Experts advise agents to tailor services to investors and asset managers

BY ANDREA V. BRAMBILA, MONDAY, AUGUST 6, 2012 Inman News®

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SAN FRANCISCO -- With the vast majority of bank-owned properties not yet listed for sale, there is plenty of opportunity left for real estate agents and brokers to break into or delve deeper into distressed properties, according to panelists at the Real Estate Connect conference in San Francisco.

Estimates of real estate-owned properties (REOs) held off the market by lenders after repossession -- sometimes called "shadow inventory" -- varied somewhat among the panelists. Foreclosure data site RealtyTrac estimates there are about 600,000 REO properties total nationwide and about 85 percent of these are currently off the market. RealtyTrac vice president Daren Blomquist noted that only about 22 percent of Fannie Mae REOs are on the market.

Euro breakup wouldn't spell disaster | Commentary: Fed will be free to take necessary measures

BY LOU BARNES, FRIDAY, JUNE 15, 2012 Inman News®

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Now we wait. Greek election results will begin trickling in Sunday afternoon and who-knows-what explosion at the opening of Asian markets Sunday night. More likely: a few more frozen days to digest the results, and any number of empty cans kicked into nearby walls. Top Real Estate in Rockford Illinois.

The biggest event next week will be the Wednesday conclusion of the Fed's meeting. The stock market this week began to trade up on bad news (a small rise in unemployment claims, a dinky drop in industrial production) on the assumption that bad news would mean QE3 from the Fed, which must be good news for stocks no matter how ugly the reality might be.

5 steps to building a worthy CMA | Done right, CMA greases the rest of the sales process

BY ALISHA ALWAY BRAATZ, WEDNESDAY, JUNE 13, 2012 Inman News®

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The comparative market analysis, or CMA, is an essential instrument in a broker's toolbox. Whether you are working with sellers to list a property, or helping a buyer make an offer on a property, knowing how to create an effective CMA is paramount.

I had the pleasure of being schooled by one of the most ferociously awesome principal brokers of all time. New brokers in her office were not allowed to go willy-nilly about town. No way!

Mortgage rates in uncharted territory | Despite record low rates, demand for purchase loans down from last year

BY INMAN NEWS  Inman News®

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Mortgage rates continued their descent into uncharted territory this week as investors seeking a safe haven from the European debt crisis snatched up bonds backed by mortgages, and the Federal Reserve continued programs intended to keep a lid on long-term interest rates.

Rates on 30-year fixed-rate mortgages averaged 3.67 percent with an average 0.7 point for the week ending June 7, down from 3.75 percent last week and 4.49 percent a year ago, Freddie Mac said in releasing the results of its Primary Mortage Market Survey. That's a new record low in Freddie Mac records dating to 1971.

Embrace the lesson of Europe's disaster Commentary: US must be competitive in the world, or be Europe

BY LOU BARNES, FRIDAY, JUNE 1, 2012 Inman News®

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Tough day. The details will be media-inescapable; work on context instead.

U.S. job data for May were poor, and April's revised so. However, jobs are growing, incomes are rising (a paltry 0.2 percent monthly, but rising), and the National Association of Purchasing Managers' service index for May arrived at 53.5, a little off from April's 10-month high but a healthy distance above 50 breakeven.

Landlord may object to tenant subletting to tourists Rent it Right

BY JANET PORTMAN, FRIDAY,  Inman News®

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Q: I rent an apartment in a great location in a tourist-heavy city. Frequently, big events come to town, like sports events, conventions and festivals, which attract many visitors, some of whom would prefer to live in an apartment rather than a hotel. I'm planning on moving in with a friend for a few weeks next summer and renting my place to these tourists. I can earn a lot of money from this. Besides a risk to my belongings, is there any downside to this plan? --Randy S.

Think twice before rejecting request for an extension In today's market, sellers may be wise to compromise with buyers

BY DIAN HYMER, MONDAY, MAY 21, 2012  Inman News®

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In some cases, your past experience will help you make a good decision about what to do in a current home-sale transaction. But if you rely only on past real estate experience to make decisions about selling a home today, you could end up with an unsatisfactory result.

The old rules, such as they were, don't always work for the current home-sale market. For example, more purchase contracts specify that time is of the essence. In other words, contingencies will be met on time.

Listing syndication is not a moral issue Decisions should be based on business model, not emotions

BY GAHLORD DEWALD, WEDNESDAY, MAY 23, 2012 Inman News®

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I was meeting with a friend of mine who works in real estate. Our conversation, as so many real estate conversations do, drifted into the whole issue of listing syndication.

You know the drill: Trulia, Zillow, Realtor.com, MLS listings on competitors' sites, and so on.

You also know the various arguments that take place around these practices. It's good for consumers. It's bad for consumers. It's good for brokers. It's bad for brokers. It's good for agents. It's bad for agents. And so on.

Show new homes, and you'll sell more resales New-home prospects buy resales, and resale buyers buy new homes

BY DAVID FLETCHER, WEDNESDAY, MAY 23, 2012 Inman News®

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General agents need to show new homes, because they will sell more resales and get more listings if they do.

About 95 percent of agents don't believe this. The other 5 percent believe it, and, because they do, they are closing sales they may have otherwise lost.

Realtor Lorraine Kuney of Re/Max Executive Realty Kuney-Todaro team in Franklin, Mass., believes it. In fact, her team is so sold on working with new-home prospects that they market directly to them. Why?

Tax mistake? Don't panic, amend! Real Estate Tax Talk

BY STEPHEN FISHMAN, FRIDAY, MAY 25, 2012 Inman News®

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You just filed your tax return a few weeks ago, but now you realize you made a mistake. What should you do?

Don't panic. You can always amend your return if you have to. But first, make sure you have to. You need not amend your return if you discover that you made a simple math error. These will be corrected by the IRS computers, and you'll be notified of the change by mail.

However, you should seriously consider amending your return if you paid substantially more tax than you had to -- for example, because you forgot to claim a deduction you were entitled to. If you made a mistake in your favor, failed to report income, or took deductions that you were not entitled to take, amending your return may avoid all or some fines, interest, and penalties if you're later audited by the IRS. (Top Real Estate in Rockford Illinois)