Posts Tagged ‘ National Association of Realtors ’

NAR: How About a Common Sense Approach to Credit?

Want to give an immediate boost to housing sales? Ron Phipps has a suggestion: Mortgage lenders should look beyond borrowers’ credit scores.

Phipps knows of what he is talking. He’s the president of the National Association of REALTORS and the broker/owner of Phipps Realty in Warwick, R.I. He says that home sales would quickly rise if mortgage lenders used just a bit more flexibility in deciding which borrowers qualified for mortgage financing.

Phipps told me during a recent phone interview that Fannie Mae and Freddie Mac are now looking for borrowers to have FICO credit scores of just under 760. That’s a big change from the days when credit scores in the high 600s were considered strong.

It’s true that borrowers can get conventional mortgage financing with credit scores lower than 760. They may, though, have to pay higher interest rates. And these higher rates might knock some buyers out of the market.

“That 760 score is just so much higher than what the average American homebuyer today has,” Phipps said.

Tightening credit standards have played an important part in the housing slowdown, Phipps said. According to data from the National Association of REALTORS, about 15 percent of creditworthy borrowers haven’t been able to get mortgage financing because of the stricter credit-score requirements of Fannie and Freddie.

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Posted by: Dan Rafter on April 19th, 2011 under Financing, Mortgage and Home Loans

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Are You Prospecting Glocally? More Specifically, Globally and Locally?

Per the Certified International Property Specialist (CIPS) course “Local Markets”, glocally means:

  • Awareness of the opportunity in your marketplace
  • Knowledge of the market dynamics
  • Outreach to potential clients, customers and other real estate professionals

Despite the present market conditions, the process of globalization continues to persevere as reported in The National Association of Realtors® report “2010 NAR Profile of International Home Buying Activity” released earlier this year.

At the 2010 REALTORS® Conference & Expo in New Orleans they recently awarded the largest number of CIPS designations with 460 NAR members receiving the Certified International Property Specialist designation.

The numbers are big; $66 billion of U.S. residential property was sold to International buyers since March 2009. The median purchase price of these properties was $219,400, 26% higher than the overall median sale price of existing homes. 55% of International buyers used cash to cover the full purchase price.

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Posted by: Brian Kinkade on December 7th, 2010 under Best Practices

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Spot Max! Orange Gorilla Cruising Around San Diego

With summertime here, Max decided to hit the surf and cruise around sunny San Diego, California, in a truck that could fit all his surf boards.

starbucksBy November, when the National Association of REALTORS® (NAR) Annual Conference is scheduled, Max will be very familiar with the area!

Have you seen Max on the road?

Let us know and you’ll receive a cute and cuddly Max gorilla of your own!

Check San Diego home prices

Learn more about San Diego real estatenavy-credit

Join the San Diego real estate market discussion on HomeGain Nation

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Posted by: Jessica Gopalakrishnan on June 29th, 2009 under Max

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Max Hits the Road in New York

Max, the orange HomeGain Gorilla, is taking a spin around the streets of New York. Max is on a Find a Realtor/What’s My Home Worth? tour that encourages New Yorkers to find and compare New York Realtors or to look up home prices on HomeGain’s instant home valuation tool. This is Max’s first motor tour since hitting the streets or San Francisco and Phoenix last year.

Max’s driver, Hoke Wolliz, is handing out free Home Sale Maximizer brochures,  a useful tool for anyone planning to sell their home.

If you spot Max, let us know!

Better yet, send us a photo of the “Max Mobile” and we’ll send you a Max gorilla of your own.

Next up for Max: San Diego, California — Max will be visible there this Fall in anticipation of the National Association of Realtors (NAR) Annual Conference and Expo.

Follow Max!

Check New York City Home Prices

 

 

 

 
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Posted by: Louis Cammarosano on June 5th, 2009 under Home Prices, Home Values, HomeGain, Max

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If You Are Not Getting Much Business from Twitter or Facebook…

Consider: Why do you think they call it “social” media?

In the words of Todd Carpenter who was recently appointed as social media manager at the National Association of Realtors :

You won’t “get” Twitter until you stop trying to figure out how to get business from it. You have to do it for fun. You have to genuinely want to talk to people, not market to them. If you just try to market yourself there, nobody will want to connect with you.”

Remember social media whether facebook or twitter, is not business media. Mixing business with pleasure is often difficult and ill advised.

“No man is poor who has friends” – George Bailey- It’s a Wonderful Life

Did he mean you could make money off them on Facebook and Twitter?

Todd futher advises:

“Again, I’m on Twitter because I like to meet and talk to people. I don’t care if it ever earns me a dime. But on the other hand, the top referrer to my newest blog is… Twitter. Five of the first six people who confirmed they were coming to RE BlogWorld, I met on… Twitter. The local meetup of RE 2.0 talent I organized today was promoted and organized largely on… Twitter.

I didn’t “get” Twitter either because I was trying to figure out a business use for it. But I got hooked on it because it was fun, and now the business opportunities are bearing fruit.”

I am not sure that social media “works” for business, but many are having fun trying. 

Louis Cammarosano

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Posted by: Louis Cammarosano on February 27th, 2009 under Blogging and Social Networking, Twitter

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HomeGain Year End 2008 Sales Report

Home Sales Results by MSA For AgentEvaluator Subscribers

2009

As the country ushered in the 2009 New Year, all of us eagerly anticipated the swearing in of the new administration, hoping for nothing short of a miracle for the real estate, and other, markets. 

Well, it is a “New Day” in Washington and there’s more activity in DC these days than Dorothy’s tornado touching down in central Kansas.

Hopefully, the swirl of activity turns out to be generally positive, and sends nothing but good vibes through the various economic sectors. Only time will tell. 

Looking Back

2008 was a successful year for HomeGain customers, both home buyers and home sellers, as well as our member agents.

Tens of thousands of home sellers and home buyers visited HomeGain during 2008 and completed requests to Find a Realtor to help them with their real estate needs.

In what cities did many of those consumers end up transacting with a HomeGain agent?  We tabulate sales closed by HomeGain buyers and sellers and report by major Metropolitan Statistical Areas.

And here are the top ten areas for both home buyers and home sellers where HomeGain consumers closed sales during calendar year 2008.

The top 10 MSA’s are:

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Posted by: Peggy Boehm on February 11th, 2009 under HomeGain

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