foreclosure

What We’re Reading: Feb. 2 – Feb. 8

On February 8, 2013, in Articles, Social Networking, What We're Reading, by Dave

The end of EveryBlock, Monopoly’s new token, and Florida foreclosures

If you were an EveryBlock fan, you know that the hyper-local news site is no more. It abruptly shut down this week as owner NBC decided it just wasn’t paying the bills. Hyper-local news was going to be the next big thing. News about your community, your street and your block. What happened?

Facebook’s latest ‘new feature’ – have we been crying out for any of these? – is Graph Search, giving a basic search functionality to you or your friends’ profiles. Now you can find out if cousin Martha really did wish you a happy birthday in 2010. But what it also does is open up your profile from the beginning, those wild days of yesteryear when maybe you weren’t so picky about your privacy settings. Well if that gives you the shudders, the Wall Street Journal has a nice blog post on How to Prepare Your Facebook Profile’s Privacy for Graph Search.

Being in real estate, we of course keep track of changes to the greatest real estate game of them all – Monopoly. This week the venerable board game threw out the dreaded iron token, replacing it with a cat.

Instagram started on the iPhone, came to Android, and now is available on the web.

NPR had an interesting story this week on the ongoing pain foreclosures are giving to the Florida real estate market.

More often than not, the headphones you see on the young punk sitting next to you on the train will sport the distinctive ‘b’ of the brand Beats by Dr. Dre. While some say the brand is overpriced and the sound not that great, if there’s any headphones to counter Apple’s white earbuds, these are the ones. The story of their start, a tech company in way over its head, and how Dre and his backers managed to take control of the brand, makes for an interesting read this week on Gizmodo.

For those in need of a little humor to bust those winter blues, we recommend checking out the reviews for The Mountain Three Wolf Moon Short Sleeve Tee (click the link for “2,365 customer reviews”).

Tagged with: foreclosure • games • humor • media • privacy • social media • tech

What We’re Reading: Sept. 29 – Oct. 5

On October 5, 2012, in What We're Reading, by Dave

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Housing is not a debate, short sales on the rise, and Halloween ideas

Wednesday night saw the first of three Presidential debates and housing garnered hardly a mention. Jed Kolko at Trulia says housing is not a winning issue for either candidate:

As the incumbent, Obama needs major housing policy successes to point to; as the challenger, Romney needs compelling fresh new housing ideas to put forward. Unfortunately, neither candidate has what he needs to make housing a winning issue for him.

National Real Estate Investor asked 16 market experts what impact the 2012 Presidential election would have on commercial real estate. Their answers ranged from ‘none immediately’ to extreme: less uncertainty on tax reform or policy changes, finally addressing the fiscal cliff, and a change in business philosophy. As one person said: ‘fasten your seat belts.’

Short sales have been on the rise recently. Statistics show that short sales actually surpassed sales of foreclosed properties last spring. And with a pipeline of over 5 million delinquent mortgages to get through, it seems like they will be a popular vehicle for awhile. However, part of the appeal of short sales is Bush-era tax cuts made the debt forgiveness portion of the sale tax free. And with those tax cuts set to expire at the end of the year, short sales may be on their way out.

Facebook passes a billion registered users and launches its first ad campaign.

Three smartphone apps that could save you or your child’s life.

Looking for a Halloween costume idea? How about decorations for your (grave)yard? And do you know American’s are expected to spend $370 million on pet costumes this year?! That’s a lot of hot dog and devil outfits.

Tagged with: apps • forecasts • foreclosure • halloween • politics • short sales • social media • tax cuts • tech

What We’re Reading: May 12 – May 18

On May 18, 2012, in What We're Reading, by Dave

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Farming for listings, Pinterest for real estate, and coffee might not be the miracle it seems

Looking for listings, agents are going to happy hour, checking property records, and giving away half of a commission, according to Bloomberg. Many homeowners aren’t interesting in selling since the properties are worth as much as they own on their mortgages. Sellers are listing because of life events, such as births, marriage or an empty nest, not because they wish to purchase a move-up property.

More owners of foreclosed homes are getting back into home ownership, much quicker than they anticipated. With help from such agencies as the FHA, the Veteran’s Administration, credit counseling and home builders, families are moving into their own homes again, instead of renting.

You may have created Pinterest Board to plan your wedding, save decorating ideas, collect recipes or get craft ideas, but Pinterest can also help your real estate career. For many agents on Pinterest, getting traffic back to their site is a goal. “I’m posting things from my website and blogs and hoping to get the links back to my website and to drive traffic,” says Karen Highland, an agent in Frederick, MD. “I’ve only been on it a month or two now, and I’ve seen a little bump in traffic.” Mike Bowler, a Lansing, MI, agent, says that getting traffic is important but that agents should be sure to also repin content from others.” Pinterest allows you to create and build relationships with current and future customers. Agents are also posting information about activities and information in their towns.

The world is full of myths – some we regard as ‘truths’ others we scoff at as ‘crazy’. It all depends on your experience, upbringing, and sucker-ability. The curmudgeons at Wired look at some myths Americans tend to believe in – stock picking, diets, lie detectors and paying people to work harder – and call them out as scams.

A new study came out this week purporting to show that coffee drinkers live longer. However, further digging into the research by the Washington Post shows there could be a few snags. First, you have to drink A LOT of coffee – we’re talking Girl with the Dragon Tattoo levels – to get the full benefits. And also secondary habits common among coffee-addicts (smoking, drinking, lower rates of exercise) all will make individual coffee drinkers more likely to depart to the great beyond sooner rather than later.

New iPhone expected to have larger screen.

Gizmodo has an interesting long post on Flickr and how Yahoo! killed its golden child with integration and corporate needs. The once premier photo social network is now little more than an internet backwater. New managers are trying to recapture the lightning, but it’s doubtful the brand can be saved.

And so it begins…Virgin Atlantic is becoming the first airline to allow mobile phone calls on flights. The carrier places lots of restrictions on when and where and the costs are through the roof, but it may be too juicy of a revenue stream for other airlines to pass up.

Tagged with: annoying behavior • farming • Flickr • foreclosure • iPhone • Marketing • medical studies • myths • social media

What We’re Reading: April 28 – May 4

On May 4, 2012, in What We're Reading, by Kate

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Living with the ‘rents, sustainable design, and the economy joins us for lunch

Though the economy is showing signs of recovery, and housing inventory is down, many of us are still working with a tight budget. A Times economist offers some budgeting guidance on dining out. Speaking of recovery, we’ve noticed a lot of new construction in our downtown Chicago neighborhood, including this 1970s office building converted to green hotel. A $600/month eletricity bill for a 63 room hotel ain’t too shabby.

So you’ve moved back home since you can’t afford to buy a house. Are you killing the housing market? The Washington Post says “Yes.” What does this mean for the economy? “It has trimmed demand for housing.” However, looking at home ownership from a historical perspective, home ownerships rates appear to return to their historical norm.

Are you looking at confidential client information on your train or plane commutes? According to the New York Times, you may be inadvertently exposing sensitive client information–such as business deals, personnel issues, and clients list–to the general public. Data thieves target conferences, work commutes, and other public spaces to steal valuable competitive intelligence data.

Horse race fans anxiously await this weekend’s Kentucky Derby: mint julep anyone? To get into the spirit, we share a history of top derby icons. Our favorite: the gloriously ostentatious hats.

We close out with a bow to Air Quality Week, a joint effort of the U.S. Environmental Protection Agency (EPA) and National Oceanic and Atmospheric Administration (NOAA). Though we all have our own opinions on the environment, we all breathe the same air and thus each have a stake in the need for high quality, clean air.

Tagged with: budgeting • foreclosure • housing market

What We’re Reading: April 21 – April 27

On April 27, 2012, in What We're Reading, by Dave

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Foreclosure to rental, a new PC virus, and how dogs shaped humans

The burgeoning foreclosures-to-rental business could become a $100 billion industry as increasingly sizable investors infiltrate hard-hit markets from Florida to California to Arizona to the Midwest.

Signs are pointing to a housing recovery, as stated by numerous news and government authorities. Some markets have picked up so much, that competition is forcing buyers to set themselves apart.

Internet access via a PC will cease for many due to a new Windows virus. Hackers recently discovered a Windows vulnerability, and seized the opportunity to infect over half a million PCs with their new virus. The FBI, in conjunction with a partner, set up a site to check your machine for infection and get a fix.

In these tough times a little bit of business etiquette can go a long way in making you stand out from the rabble. Time shares 5 rules to help refine your sense of propriety and decorum.

Before you pull out the mop and bottles of cleaning solution for your annual Spring cleaning, you might want to check the labels. Time reports that several popular brands contain toxic ingredients.

Man has domesticated and mutated dogs for centuries to suit our needs and whims, but an article in American Scientist reveals some scientists belief that dogs cause humans to evolve too. Humans are the only ape species to have a white part of the eye around the pupil as a default–perhaps a competitive advantage for early dog owning humans by allowing dogs to more quickly follow an owner’s gaze to help hunt prey.

Tagged with: computer • dogs • etiquette • evolution • foreclosure • poison • rental • virus

What We’re Reading: March 31 – April 6

On April 6, 2012, in What We're Reading, by Dave

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Flipping returns, eMagazines, and timeshares for $1

Waypoint Real Estate Group is buying five to seven houses a day, 1200 since 2008, and is fixing them up and reselling them to investors at a big discount. The company plans to buy 10,000 to 15,000 more homes by the end of 2013.

With home prices down more than a third from their peak and the market swamped with foreclosures, large investors are salivating at the opportunity to buy perhaps thousands of homes at deep discounts and fill them with tenants. Nobody has ever tried this on such a large scale, and critics worry these new investors could face big challenges managing large portfolios of dispersed rental houses. Typically, landlords tend to be individuals or small firms that own just a handful of homes. But the new investors believe the rental income can deliver returns well above those offered by Treasury securities or stock dividends. At the same time, economists say, they could help areas hardest hit by the housing crash reach a bottom of the market.

Warren Buffett famously said that he would buy up “a couple hundred thousand” single family homes if it were practical to do so. Looks like Waypoint has beat him to the punch.

Travel & Leisure comes out with another top list: America’s 20 greenest cities. Portland (surprise!) is #1, followed by Savannah, Minneapolis-St. Paul, Denver, & Chicago.

Perhaps you think land ownership in your city or town is a challenge, but trying living on the border of North and South Carolina. The two states are currently reassessing the state line, likely leaving some 30 property owners paying property taxes in two states, dividing utilities payments, and obtaining a new driver’s license.

One in five American adults read an electronic book in the last year, as gift-giving sped the shift away from the printed page, a Pew Research Center survey showed on Wednesday. And why limit it to ebooks? Just as Hulu was launched by several major broadcasters, some of the country’s biggest magazine groups have banded together to create Next Issue, an e-magazine reader and app.

Foodies in Detroit are helping revitalize the city by opening restaurants, food stores and gardens on cheap or abandoned property. Outside developers are beginning to show interest in the Motor City. And Whole Foods Market has plans to open a store next year in the Midtown neighbourhood, which is the centrepiece for Detroit’s revival. The food and real estate pioneers are optimistic, hoping that Detroit will be able to rise to a million residents from the current 715,00 to support sustained growth of this new trend.

Got a sweet tooth? Many of us were surprised at the initial results from a five year study conducted at the University of California at Davis’ recent study that shows a link between sugar consumption and cholesterol, shown on 60 Minutes last week.

Looking for a timeshare to purchase? No one else is either. Unable to sell his timeshare, John Chase and his wife gave away their Orlando timeshare for $1.00. Like many owners, the couple is dealing with rising timeshare maintenance fees on top of other bills. Alternatives to this drastic move include renting out timeshares to vacationers and seeing if the owners would buy back the time share. Owners also counsel patience and leaving the timeshare on the market.

Here’s a good reason to do some low-cost redecorating: The choices you make can result in enhanced mood, less stress, and better sleep. To turn your space into a healing haven, follow these easy 10 decorating tips for a stress-free home.

From all of us at Information Central, we wish you a Happy Easter and a Happy Passover!

Tagged with: decorating • detroit • eBooks • flipping • foreclosure • green • health • jurisdiction • staging • studies • tablets • tech • timeshare • top list • urban desert

What We’re Reading: Feb. 11 – Feb. 17

On February 17, 2012, in What We're Reading, by Dave

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Homeowners are hot, more Pinterest, and how Target knows you’re pregnant

Just in time for Valentines Day, a new study finds that home ownership is not only a smart move, it’s also sexy. Sponsored by Trulia (so the results aren’t too surprising really), the study surveyed singles and found that more than a third of women and 18% of men said they would much rather date a homeowner than a renter. Only 2% of women and 3% of men preferred renters.

If renters aren’t sexy, how about squatters? The Seattle Times covers the problem of empty foreclosures, abandoned properties, and their impact on cities and neighborhoods.

Quick – what’s your computer operating system, IP address, and screen resolution?

As it’s always wise to invest in what you know, many REALTORS are also landlords. If you’re new at the game, how do you deal with tenants who can no longer afford to pay the rent (or just aren’t paying)? Instead of eviction and that whole process, this landlord suggests a cash for keys strategy.

After our post last week, Pinterest continues gaining momentum. What makes it so special? Fast Company provides an insightful analysis: “When I pin or re-pin something related to a brand, I am saying that I care about this content enough that I want to hold onto it or that I want to show other people that it is important.” David Pogue is also a fan.

Companies know more about us than you imagine. So much so, that they have to play a little dumb so that they don’t spook us. It’s a long article, but the New York Times explores how habits form, what drives choice, and how companies are leveraging data to sell us more stuff.

Hopefully if you’re logged in to Pinterest, the laptop isn’t burning a hole in your pants. Overheating laptops are a real pain. Lifehacker gives some advice on taming the burn.

Machines might be taking over the world. Globally, mobile devices will outnumber humans this year, Cisco has predicted.

If you were old enough to listen to the radio in the early 1990s you undoubtedly remember Whitney Houston’s rendition of “I will always love you” from the film “The Bodyguard“. And you may even know it was originally written and sung by Dolly Parton, but did you know she wrote it not as a farewell to a lover, but to say goodbye to her mentor and business partner? And that the song barely made it into the movie? With the passing of Whitney this past weekend, Yahoo! recaps some interesting facts about a signature song.

Tagged with: behavior • consumer • foreclosure • homeownership • Marketing • social media • songs • study • survey • tech • whitney

What We’re Reading: Dec. 24 – Dec. 30

On December 30, 2011, in What We're Reading, by Dave

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Short sales on the rise, urbanization as the answer, and Samoa skips a day

The robo-signing scandal that slowed the foreclosure process to a crawl appears to have increased lender interest in short sales.

More than 50 percent of the world’s population now live in cities – and there is no end of urbanization in sight. As opposed to the conventional wisdom, Harvard economist Edward Glaeser believes urbanization to be a solution to many unanswered problems, such as pollution, depression and a lack of creativity.

Brazilians are becoming more and more important in the South Florida economy. The Brazilians’ money has helped resuscitate the real estate market in Miami. Foreigners account for more than half of all property sales in Miami, and condominium towers that once sat empty are quickly selling out.

Felix Salmon writes on his Reuters blog about the comparison between Sears and Apple stores. One is a glorious success, the other a slow dying dinosaur. The difference? Beyond having products that people crave, you can look at how the two companies invest in their retail spaces. It’s a stark contrast.

You haven’t even thrown the box away from your new iPad 2 yet, but the 3rd generation might be on its way sooner than expected. Inc. unwraps the details.

Perhaps not on-the-job, but after hours… an iPhone app helps Manhattan sip on spirits whilst charging the phone. We’re ready for such technology to grace the pubs of Chicago.

If you were planning to celebrate your Dec. 30th birthday in Samoa, forget it. The island nation is moving to the other side of the international date line this week and will go directly from thursday to saturday.

Tagged with: apps • Brazil • economy • foreclosure • housing • investment • iPad • iPhone • retail • short sales • smart growth • tablet • Technology • trends • urbanization

What We’re Reading: July 16 – July 22

On July 22, 2011, in What We're Reading, by Dave

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Debt ceilings, MID, and getting a $300k house for $16

Discussions over raising the debt ceiling have dominated news coverage for the past week. The impact of any failure could be widespread and will include the housing market. NPR talks to industry insiders that worry that if the political theatrics continue much longer, that could spook investors, drive up interest rates, push down home prices and hurt the economy.

While default could dramatically impact the housing and mortgage markets, MSNBC explains how Europe’s troubles are buoying the US mortgage market. Even as a potential U.S. default looms, the odds seem lower than a default in Europe which is helping to drive down US mortgage rates. It’s like living in the nicest house in a bad neighborhood.

Robert Siegel from NPR recently interviewed our own Jed Smith, managing director of quantitative research in our DC office, regarding the benefits of maintaining the mortgage interest deduction. Interesting fact: two-thirds of apartment dwellers support maintaining the deduction.

The glut of foreclosed homes plus a tanking economy isn’t bad for everyone. A man in suburban Dallas took advantage of a little known Texas law that (so far) is allowing him to move in and take possession of a $300,000 house for only a $16 filing fee.

Solar panels not only generate energy from the sun, but also save energy by lowering roof temperatures during the day and insulating at night according to a recent study to be published in a science journal. According to the press release:

the team determined that the amount saved on cooling the building amounted to getting a 5 percent discount on the solar panels’ price, over the panels’ lifetime. Or to put it another way, savings in cooling costs amounted to selling 5 percent more solar energy to the grid than the panels are actually producing— for the building researchers studied.

Applying for a job can be stressful. Add in all the drug/police/background checks and you start to wonder if you’re applying for the CIA. Now there’s one more check to worry about – social media check. Like any group that might come across as racist? post risque photos? mention your love for 420? It could all come back to haunt you.

Getting older is never fun. Health via CNN offers some suggestions on how you can recapture some of that energy and spunk of when you were 21. None of the advice should be surprising: get more sleep, eat well, exercise, take care of yourself and have a positive outlook.

How can you tell if someone is lying? Or want to avoid getting caught yourself? Here are some tell-tale signs that help the experts tell truth from fiction.

Tagged with: aging • debt ceiling • foreclosure • global • lying • MID • mortgage • privacy • social media • solar energy

Foreclosure Data

On July 21, 2011, in Research Tips, Statistics, by Kate

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We have received a few inquiries in Information Central about foreclosure data. While the NAR does not collect or publish such data, we have a few resources to recommend. Let us know if you have any to add to this list!

HUD USER GIS Maps

This August 2011, the HUD launched a mapping tool that displays the geographic location of foreclosure properties owned by the FHA, Fannie Mae, and Freddie Mac.

HUD Local Level Data Foreclosure Data Estimator

Though this tool offers only an approximation based off data published by the Mortgage Bankers Association in 2007 and 2008, and from several federal agencies, it allows granular analysis of small areas and communities across the United States. Read the methodology paper to understand how the U.S. Department of Housing and Urban Development (HUD) developed the data.

Mortgage Bankers Association’s (MBA) National Delinquency Survey

The MBA’s data is known to be reliable and allows granular research of mortgage delinquencies and foreclosures. The MBA offers a free map of delinquency rates by state. Other data, such as quarterly state foreclosure trends and totals, are available for purchase. Some public libraries may include MBA resources in their collections.

NPR’s Interactive Map: The Economy Where You Live

National Public Radio (NPR) has put together a visual representation of foreclosure, unemployment, and median household income rates by county, based off data from Realty Trac, the U.S. Bureau of Labor Statistics, and Nielsen Claritas.

Mortgage Originations and Delinquency and Foreclosure Rates: 1990 to 2009

Published as a part of the U.S. Census Bureau’s 2011 Statistical Abstract.

Field Guide to Foreclosures

We offer field guides on a diversity of real estate topics in our Virtual Library. They provide an easy way to “get smart quick” on a topic, and are an excellent starting point for real estate research.