REALTOR.com Daily News

Daily news from REALTOR.com

• Fed Governor: Turn REOs into Rentals September 2, 2010
  Elizabeth Duke, a Federal Reserve governor, advocates alternatives to sale for foreclosed homes, including renting out the properties.
• HUD: Communities Get First Look at Properties September 2, 2010
  The federal government is pouring billions of dollars into distressed areas, creating opportunity as neighborhoods stabilize.
• Investment Property: Four Considerations September 2, 2010
  A deal should make sense whether or not the property appreciates, an investor says.
• July Pending Home Sales Show Rise September 2, 2010
  Contract signings for July are up 5.2 percent, indicating closings could also be heading up in the months ahead.
• Michigan: Free Land in Exchange for Jobs September 2, 2010
  Companies are offered big incentives to put down roots and create jobs in a depressed area.
• Most Home Buyers Have No Regrets September 2, 2010
  Findings from a survey show that fixed-rate mortgages are gaining in popularity.
• Commercial Real Estate Yields Spur Investors September 1, 2010
  Capitalization rates averaged 7.22 percent in the second quarter, or 4.29 percentage points higher than the yield on 10-year government bonds.
• Google Invests in Low-Income Housing September 1, 2010
  The Internet giant is spending $86 million on a tax-credit fund to finance the construction of 480 affordable housing units.
• Housing Less Likely to Be Wealth Builder September 1, 2010
  The makets will stabilize, but some experts doubt that prices will rise faster than inflation.
• Hyperlocal Focus Is Key to Market Domination September 1, 2010
  A multi-pronged approach including online and offline marketing plans and a six-month budget can help agents boost their share of the business.
• Mortgage Applications Slip Slightly September 1, 2010
  The purchase index dropped 0.4 percent, but refinancings were up 2.8 percent last week as interest rates continue to fall, according to the Mortgage Bankers Association.
• No Class-Action Status on Phony Appraisals September 1, 2010
  A U.S. District Court refused a request for class-action status in a suit by First American Corp. shareholders who said that the stock tanked when the company was charged with colluding with Washington Mutual to inflate appraisals.

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