Short Sales Lose Favor With Lenders?

Provided By: realtor.com

As home prices rise, lenders are showing less willingness to grant short sales, RealtyTrac reports.

The number of short sales has been gradually dropping the last few months. Short sales represented 5.3 percent of all sales in October, down from 6.3 percent the previous month and down from 11.2 percent last October, according to RealtyTrac data.

The National Association of REALTORS® recently reported in its October existing-home sales report that short sales tend to sell at an average discount of 14 percent below market value.

“After a surge in short sales in late 2011 and early 2012, the favored disposition method for distressed properties is shifting back toward the more traditional foreclosure auction sales and bank-owned sales,” says Daren Blomquist,vice president at RealtyTrac. “The combination of rapidly rising home prices — along with strong demand from institutional investors and other cash buyers able to buy at the public foreclosure auction or an as-is REO home — means short sales are becoming less favorable for lenders.”

Foreclosure auction sales to third parties accounted for 2.5 percent of all sales, nearly double what it was a year ago when at 1.3 percent, RealtyTrac reports. Sales of REO homes repossessed by banks made up 9.6 percent of sales in October, about the same percentage from a year ago.

In some states, short sales still remain a high proportion of sales. RealtyTrac notes that the states with the highest percentages of short sales in October were: Nevada (14.2%); Florida (13.6%); Maryland (8.2%); Michigan (6.7%) and Illinois (6.2%).

50 Lead Generation Ideas to Achieve 100 Leads a Week

Provided By: KW.com


Sometimes, we tend to over-complicate the lead generation portion of our business. Sure, technology and social media that have allowed us to be more creative but at the heart of it all, the simple fact is that wherever people are, there’s an opportunity to find a prospective customer. Successful real estate agents know this and are always on the look-out for a good lead – even if it’s not the most obvious place.


In KW MAPS Coaching’s BOLD Experience, students are challenged to think outside the sacred three-hour lead generation time block and make 100 contacts in a week. Those who accomplish the challenge become members of the “BOLD 100 Club” – which, today, is made up of hundreds of agents across North America.
Does making 100 contacts in seven days seem like a daunting task to undertake? It might if you aren’t armed with lead generation ideas. Thankfully, we stumbled upon 50 from a Family Reunion presentation taught by KWU Master Faculty Instructor and team leader, Gene Frederick.
Some of these lead generation methods may already be on your radar. Some you might never have thought of. Others may sound a little silly at first.
But consider the possibilities. Ask yourself what 100 contacts could do for your business. And give it a go!

The best way to start is to choose three lead generation methods to focus on. Set goals for each, create action plans and track your results. Then find someone to hold you accountable to your goals.
Happy hunting!
1. Garage Sales
2. Car Dealers
3. Financial Advisors
4. Airlines
5. HOA Associations
6. Running Club
7. Gym/Personal Trainers
8. New Home Builder Reps
9. Building Co-owners
10. College Alumni Associations
11. Weddings
12. Move In Parties
13. City Holiday Celebrations
14. Marriage Counselors
15. CPAs
16. BNI: Business Network International
17. Mortgage Companies
18. Title Companies
19. Inspectors
20. Appraisers
21. Moving companies
22. Chamber of Commerce
23. PTAs
24. Volunteer for School Trips
25. Band
26. Choir
27. Sports/Booster Clubs
28. Teachers
29. Principals
30. Judges
31. Charities
32. HOA Associations
33. Relocation Companies
34. Country Clubs
35. Realtor Seminars
36. College Alumni Associations
37. First-time Homebuyer Seminars
38. Before-Market Preview Properties
39. Apartment Representatives
40. Places of Worship
41. Radio
42. TV
43. Back of Your Laptop
44. Stockbrokers
45. Door Knocking
46. Veteran Associations
47. Hair Salon
48. Realtor Associations
49. Singles Organizations
50. Meet-Up.com
Which three will you choose?

5 WAYS REAL ESTATE AGENTS FAIL AT SOCIAL MEDIA

Provided By: sem-group.net

The way we communicate on a daily basis has changed radically over the last ten years. In our ever changing world of communication, social media is what’s in vogue. Everywhere you turn you can’t escape it whether it is Facebook, Twitter, Google Plus, Linkedin or one of the many others that are cropping up daily. Social media is a way of keeping in touch with the world around us just like reading the daily newspaper used to be. How many people actually sit down and read a newspaper cover to cover anymore? Probably not nearly as many as there were going back even five years ago. How we deliver news is no longer the same.

 

With new forms of communication, come new rules of the game. While social media is an information delivery mechanism, it is also a way of socializing as well. Those that are really good at social media will tell you being “social” is what matters most. Building relationships is a big part of what social media is about.

 

REAL ESTATE AGENT SOCIAL MEDIA FAIL

 

There are countless industries that are really lacking when it comes to social media skills and Real Estate has to be right up there at the top. Having been a Massachusetts Realtor for the past twenty six years, I was immediately intrigued when social media started to catch on. This new way of being able to capture an audience fascinated me.

 

In fact I was one of the first Realtors in Massachusetts to have a Real Estate blog. Seeing some immediate success only enhanced my desire to use social media as it should be used. One of the best ways to do that was of course to emulate what other successful people were doing. By trial and error I could see that those that were having the most success followed some very simple rules of etiquette. They were not necessarily in the Real Estate industry but clearly had a grasp on making it work for them.

 

Some of the common denominators of success include thinking of social media as a way to form successful partnerships with others by providing information that could help them learn, laugh, think and possibly reciprocate. Those that do social media well are givers not takers. They do not look at social media as an advertising billboard. The it’s “all about me” mantra does not work well in social circles.

 

Real Estate agents unfortunately are some of the worst violators of many of these simple social media skills. There are many popular social media channels that Real Estate agents are using improperly. I am going to illustrate some of the more common social media blunders below and hopefully if you are a Realtor reading this you will adjust your thinking. It is also certainly possible you are not even in the Real Estate industry and have made the kind of mistakes illustrated below.

 

Facebook Social Media Fail

 

Facebook has to be one of the top social media sites for Real Estate agents making silly blunders. Social media failure here comes in what can best be described as SPAM! One of the more popular Facebook features is the ability to invite people to an event. This of course is terrific if there happens to be a local event that those who ARE LOCAL to the area will want to attend.

 

A good example of the proper use of a Facebook invite would be a band asking those in their local contacts to come check them out. Using Facebook in this manner is a big win for the band to get the word out and also great for those on the invite list who may enjoy good music.

 

A Facebook invite however is not for your entire list of Facebook friends! I can not even tell you how many times a week I get the most silliest invites from other Real Estate agents. Hey Bill please come to my pancake social next week in California. Sorry Jeff I am busy selling homes and will not be able to make it. While I am sure the pancakes will be delicious, I won’t be flying from coast to coast just to try them.

 

Kids birthday parties are another Facebook failure that agents just love. Hey Molly the Realtor I am sure your daughters birthday party at some Virginia bowling alley is going to be a blast but Bill the Realtor from Massachusetts won’t be able to make it. Seriously folks it doesn’t take that much longer to invite people who will want to attend your event. Do you know how absurd you look when you don’t think about your actions in social media?

 

Guess what happens after people get tired of constantly seeing your foolish invites? If you guessed people hit the blocked button it’s Bingo for you! The thing is you will never get a notification that you are blocked it just happens. Obviously this is not something you want!

 

Another thing that Realtors love doing on Facebook is boasting about how busy they are. It goes something like this “OMG I am so busy out showing homes for the third time this week blah blah blah.” A quick check of the agent boasting how busy they are reveals they have sold 5 homes all year and it is September. Please if you are going to talk about how wonderful you are doing, at least have the stats to back it up! Other people certainly will and show your competitors to boot.

 

Google Plus Social Media Failure

 

Google plus is the newest social media site on the scene and rapidly becoming one of the most popular. One of the neat things about Google Plus is how you are able to create “circles” for those that you follow. A circle is just another name for a category or group of people. If you are a Real Estate agent you could have circles for a number of things including other Realtors, family and friends, people who share an interest and any number of other possibilities.

 

What is really neat about Google plus is that not only can you share something “public” which will put your post into anyone’s stream who happens to follow you but also directly to a circle as well. As an example let’s say I want to share a fantastic post about why Realtors should claim Google authorship. It would make sense if I had a group of Realtors I knew well and interacted with daily, they may want to see a helpful article like this. Google plus allows me to send this directly to them. Since those in my circle know me, it is not unusual for them to get notified of a post I have created. You could certainly call this an instant notification of content worthy of viewing.

 

One of the ways sharing posts directly with someone in Google Plus can be considered a no-no is when you do not know them. It is not appropriate for one Realtor to send another Realtor their latest and greatest “share” if they don’t know the person. Even worse is when a Realtor sends someone outside of the Real Estate industry a direct posting.

 

It is really a poor assumption to think everyone wants to read or look at what you have posted. There are tons of people who could care less about Real Estate and don’t want to see pictures of the home you just sold or what is happening in your town USA. So many Real Estate agents just don’t get this. This would be akin to a dentist sending a bunch of Realtors pictures of a cavity they just filled. Most dentists wouldn’t even dream of doing something so stupid. Realtors on the other hand, make mistakes like this all too often because they think of social media as one big advertising bulletin board.

 

Linkedin Social Media Failure

One of the terrific features of Linkedin is the groups that you can become a member of that regularly share great information within a certain niche. Real Estate being no exception. There are quite a few Real Estate groups where fantastic ideas for growing your business are shared. As a Realtor looking to gain a new method to grow your business or finding some cool new technology, some of these groups can be a great place to visit. This of course is the case until some agent comes along and drops a bunch of his or her listings into the site.

 

Groups on linkedin are NOT for Real Estate listings! Seriously why on earth do you think someone in Massachusetts or anywhere else for that matter would want to see your 3 bedroom Ranch in Oregon? THEY DON’T. A professional group where you discuss ways to improve your business is not an open invitation to SPAM your listing. This again goes back to the billboard mentality that many agents have engrained into their head.

 

Unless you are marketing a Hollywood superstars property or some other extravagant home owned by a famous millionaire nobody cares about your dam listing. Stop putting listings into a professional Real Estate group unless of course you want to continue looking unprofessional to everyone else!

 

Twitter Social Media Fail

 

Twitter is another place that some Realtors fail miserably at. The problem here is that Realtors far too often just drop in content and then don’t respond if someone has a question. The best example again is the Realtor who will drop one of their listings into the site via a tweet and then when they are lucky enough to get someone to respond it goes unnoticed.

 

The thing about social media is that you need to use these sites daily if you expect them to work as intended. There is no point in dropping a link into Twitter if you are not going to respond in a timely fashion or at all.

 

If sharing your listings on Twitter is what your focus is then I guarantee you have failed at this social media site. Twitter is for providing great content that others can use. It is not about YOU! Your focus on Twitter should be sharing valuable information that others can benefit from. The content doesn’t necessarily have to be your own either. Sharing other peoples articles on Twitter is what builds relationships and increases your following!

 

 

Share Button & SEO Social Media Fail

 

Real Estate agents are notorious for using social media sharing tools that are embedded into their websites as plugins to send their content to various networks and then doing nothing else. Social media is about being social! It is NOT about personal promotion. Stop dumping your content and doing nothing else. Interaction and reciprocation is what makes social media work! All of the social media sites mentioned above are tools to build relationships with people. They are not link dumps! So many Realtors confuse the benefits of social media by thinking it is some kind of exercise in SEO.

 

In fact one of the more awkward things that you see from Realtors is posting their website address like this —> http://www.sellmyhomeinmetrowestma.com <—- as part of a signature in various social media sites when they make comments like there is some kind of magical SEO benefit for doing so. This is incredibly stupid and does nothing for you other than making you look like a buffoon.

 

Most Realtors know very little about SEO. This is illustrated very clearly when those in the industry add widgets from sites like Zillow and Trulia to their websites effectively helping those sites outrank agents for their own local keywords. For those that don’t understand what I am talking about here is an explanation of how Realtors help Zillow and Trulia gain better web position. SEO is actually a vital part of any Real Estate agents marketing arsenal. There is no doubt what so ever that having your website appear on the first page of Google for competitive Real Estate search phrases is going to help your business!

 

If you are a Real Estate agent reading this or anyone else in business for that matter, I hope some of what you have discovered here about social media to be an eye opener. Keep in mind that successful use of social media starts with engaging others. Provide great content of your own and share others content as well. Make sure you reciprocate and say thank you to those that help you become more visible. Do these things and you will see the long term benefit of business growth!

Development group buys large tract near Rockwall

Provided By: DallasBusinessJournal.com

A group of undisclosed investors through Southstar Woodcreek Developer LLC has bought a large 850-acre tract of residential and commercial land within the Woodcreek master-planned community in Fate, a suburb about 35 miles east of Dallas.

The tract of land was the last remaining undeveloped piece within the community. Terms of the land deal were undisclosed. Andrew Prine of Stratford Land brokered the deal.

Southstar plans to continue developing tracts to regional and national homebuilders. Currently, the master-planned community has more than 1,500 homes. The Woodcreek development has the potential to house more than 4,600 residential homes.

"Our group of seasoned real estate investors and managers are very excited to be a part of this thriving Metroplex community," said Patrick Sessions, a managing director with the investment group, in a written statement. "We plan to enhance the community even further by adding a new amenity center, making some improvements to the current center and improve on-site signage and reinvigorate the marketing program."

Dallas-based Provident Realty Advisors will manage the community's day-to-day operations. United Development Funding provided the financing the land acquisition and project development.

The master-planned community includes an amenity center, oversized gourmet kitchen, media and conference room, outdoor patio, fitness facility and children's play area. Woodcreek includes a community lake, sports field, splash park and pool and two elementary schools.

Keller Williams Realty Becomes Largest Real Estate Franchise in North America!

Provided By: http://moving-careers.com/keller-williams-realty-becomes-largest-real-estate-franchise-in-north-america/

Keller Williams Realty Becomes Largest Real Estate Franchise in North America
Company reports record growth, productivity and profitability gains;
announces expansion into the United Kingdom.

 

AUSTIN, TX (September 16, 2013) - With a net gain of 12,000 associates in the past year, Keller Williams Realty is now the largest real estate franchise in North America. The announcement, based on publicly available agent count data as of September 9, 2013, was made during Keller Williams Realty’s Midyear State of the Company presentation. Keller Williams is now home to more than 90,000 associates around the world.

 

“We are not a company of complacency,” CEO Mark Willis said. “We have the best business model in the industry and it’s leading to increased productivity, profitability and profit sharing that are at all-time highs for our company and unrivaled in our industry.”

 

In recent months, Keller Williams Realty has shattered its monthly records for listings taken, contracts written, commissions earned, owner profit and profit share:

 

• Year over year, units are up 8 percent, closed volume is up 17 percent and gross commission income is up 18 percent.
• Ninety-five percent of the company’s offices are profitable year to date – a figure that far outpaces the standard for franchise businesses.
• In the past 12 months, the company has distributed $58 million in profit share to associates, a 33 percent increase over the previous year.

 

Features for consumers include:

 

• The ability to search for homes based on criteria or by custom drawing on an interactive map;
• GPS localized data displays homes in a given area that match the consumer’s price range;
• The ability to easily swipe through galleries of photos to decide whether a home fits one’s needs and then add it to saved searches for convenient reference on the app or via the agent’s website, where the saved searches are synced;
• The ability to save notes on properties for future reference; and
• Faster communication between agents and consumers via call, text or email.

 

The strong growth, productivity and profitability gains follow a year of milestones for the company:

 

• The release of the Keller Williams mobile app – personally branded for each of the company’s 90,000 associates. In the past 30 days, more than 58,000 consumers have downloaded the app to their Apple and Android devices.
• Publication of co-founder Gary Keller’s new book, The ONE Thing, which has appeared on 117 bestseller lists, including The New York Times, where it has been on the business bestseller list for 5 months, and The Wall Street Journal, where it earned the #1 spot.

 

Willis used concepts from The ONE Thing to illustrate his presentation, which took place at Mega Camp, the real estate industry’s premier educational and networking event for top producers. “Keller Williams leaders, what you’re doing is lining up a perfect domino run,” he said. “Being #1 in agent count in the United States was our first domino. We’re on our way to knocking over bigger and bigger dominos until we’re #1 in agent count, transactions and volume all across the world.”

 

Keller Williams Worldwide President Chris Heller also announced the company’s expansion into the United Kingdom. In recent years, the company’s global division has announced franchise agreements in Austria, Germany, Indonesia, Southern Africa, Switzerland, Turkey and Vietnam. Heller touted the achievements of the company’s regions outside of North America and welcomed more than 100 international guests from countries including Brazil, China, Colombia, Ghana, Israel, Italy, Mexico, Poland and Russia.

 

“Around the globe, entrepreneurs, brokers and agents are looking for and asking for what we offer,” Heller said. “They crave our models, systems, training and technology. And because Keller Williams can offer all of those at a level they have never seen before, we are attracting tremendous talent and gaining momentum.”

 

“Success leaves clues,” Keller Williams President Mary Tennant said during her State of the Culture update. “And your unprecedented achievements this year all flow from the culture of success, caring and opportunity you created and are enhancing every day.”

Agent Benefits of Using CSS

Provided By: Showings.com

 

Agent Benefits of Using CSS

• More showings on your listings because CSS listings are easier to show
• Increased feedback for showings on your listings
• Enhanced communication with your sellers
• CSS is open 33% longer than standard real estate offices
• Increased exposure for your listings
• Get more listings using CSS as a listing tool
• Instant notifications of showings on your listings via email and/or text messages
• CSS ‘Listing Announcement’ notifies showing agents of changes to the property
• Using CSS is like having your own personal assistant to set showing appointments
• Customized “branding” of your reports with your logo and picture
• Call one number to schedule multiple appointments
• Easily reschedule and cancel appointments
• Professional and courteous customer service representatives dedicated to your call
• Sellers can approve or decline showings via text message using ‘Text2Approve‘ feature

Q&A Centralized Showings

Provided By: showings.com

 

What is CSS?

Centralized Showing Service (CSS) is the nation’s premiere residential real estate showing service. CSS provides a single phone number in each market we serve for all real estate agents to schedule showings for their buyers.  Having one phone number to call is far more convenient for all REALTORS® in the area.  CSS is also open 33% longer than traditional real estate offices.  Our hours are 8 a.m. to 9 p.m. Monday through Saturday and 8 a.m. to 6 p.m. on Sunday.  Additional hours, better efficiency and more convenience may mean more showings and additional prospective buyers which can then turn into faster sales!

 

What are your hours of operations?

Call Center operations are Monday through Saturday from 8:00 a.m. to 9:00 p.m. and Sundays from 8:00 a.m. to 6:00 p.m.

 

How does CSS get my listing information?

In most CSS markets, CSS obtains your listings directly from your local MLS.

 

What is a Listing Announcement and/or Email Announcement?

This Showings.com feature provides the ability to notify all REALTORS who have previously shown a CSS listing of any changes to the property.  If the seller improves the property (e.g., repainted interior walls, replaced carpet, installed new fence, etc.) listing agents using the Listing Announcement feature easily notify and request that all showing agents give the listing further consideration via a group email through Showings.com.  This is an additional opportunity to make a good impression. 

 

What is Text2Approve?

This Showings.com feature provides sellers added convenience by allowing them to receive text messages on their mobile phone when their CSS listed property has a showing request. Upon receiving the text message, sellers can respond back with YES or NO to setup or decline the showing. That is a simple, convenient and time saving courtesy that sellers appreciate.

 

How can I get the CSS App?

The CSS Mobile App is available for Apple, Android and BlackBerry mobile devices.  CSS members can download it for FREE by visiting their mobile app store on their mobile device.  Manage your showings wherever you are.  Create appointments, give and get feedback, manage listings and showings from your smart phone or tablet.

 

I forgot my CSS Login and/or Password. What do I do?

On the home page of Showings.com, click on the "LOGIN" link in the upper right corner.  The "Forgot Password" link is located under the user name and password fields.  For security reasons, you will be required to provide your name and/or other information.

Did You Know! Centralized Showing Service

Provided By: showings.com

Established in 1996, Centralized Showing Service, Inc. (CSS) was the first company to address the issue of home showing inefficiencies in the residential real estate community. Since our inception, CSS has become the largest and most successful company of its kind. CSS currently schedules over 15 million showings per year and has over 130,000 REALTOR® members in over 70 markets across the U.S. Our membership includes everything from, independent agents to large companies to entire REALTOR® Associations and MLS board-wide services.  CSS has operations in Dallas/Fort Worth, Houston, San Antonio, Kansas City, Raleigh,NC and Charlotte,NC. 

The success of CSS has grown out of our commitment to provide REALTORS® a quick, courteous and professional way to schedule their showing appointments. Our state-of-the-art website reporting and feedback collection systems augment our high-quality, personalized service.  In each market, our goal is to provide a single number for all REALTORS® to call  when scheduling their showing appointments. CSS provides agents the ability to schedule 10 to 12 showings in less than 5 minutes through our convenient call centers or even easier through the newShowings.com website and mobile app.  This ease of scheduling appointments through CSS makes our members' listings more attractive for co-op agents to show!

This Week In Credit Card News: Data Risks For Travelers, Growth At Small Banks

Provided By: forbes.com


A weekly summary of the top credit card stories that appeared in major publications across the country.


Data Security Begins with the Traveler
Criminal hackers gravitate to some hotels because, like retail stores and restaurants, hotels do many credit card transactions at a local level, where centralized and highly sophisticated data security safeguards may be lacking. Most hotels are locally owned, though managed by big hotel chain companies. For hotel owners, it is expensive to come into full compliance with the tough global data security criteria set by the credit card companies. Cybersecurity threats are increasing as quickly as businesses can implement measures against them. The threat is constant. The best protection is vigilance, and that takes work,” he said. That includes using complex passwords, being wary of public Wi-Fi, updating antivirus software and checking credit card statements carefully. [New York Times]

Smaller Banks’ Loans Growing Faster Than Larger Rivals
There has been a sharp surge in loan growth at little banks. The move has opened up a wide gap in loan growth between smaller banks and large ones. Small banks saw annualized loan growth of more than 6% in the second quarter, compared with less than 2% at the 25 largest banks, according to research by Keefe, Bruyette & Woods Inc. As long as regulatory uncertainty remains, big banks will continue to be at a disadvantage, according to bank analysts and executives. [Wall Street Journal]

Credit Card Confusion: How Do I Earn Those Rewards?
It’s a strange contradiction. Credit cards that offer rewards are more popular than ever. And yet, many people who have these cards don’t really know how they work. They aren’t sure how to maximize the points, miles or cash rebates they can get by using them. A recent study found that just 59% of the customers with a rewards credit card feel they “completely understand” how to earn rewards, down from 66% in 2012. Even more surprising, 33% of these cardholders say they are unaware of the benefits associated with their rewards card. [NBC News]

Huntington Bank to Launch Consumer Credit Card
After a long hiatus, Huntington Bank is getting back into the credit card business. It will launch a consumer credit card that allows customers to choose among rewards in 13 categories or low interest rates on their revolving balances. The move reflects the trend of banks setting up one-stop shopping experiences for their customers by offering a wide assortment of financial products. By not having its own card, Huntington essentially has been allowing its customers to form relationships with other card-issuing banks. The new card marks the first time Huntington will issue and service credit card accounts since 1999, when it outsourced those functions for its $585 million portfolio to Chase Manhattan Bank. [Wall Street Journal]

Bank of America to Discontinue Cruise, Merchandise Rewards on Power Rewards Card
Bank of America will soon stop offering cruises and retail merchandise as redemption options for Power Rewards account holders. The bank notified cardholders of the changes in a letter and a notice on its website. Cruises, activities, tours and retail merchandise will no longer be eligible for point redemption. The changes are effective in October. Cardholders can still redeem points for the discontinued items this month. A bank spokeswoman says cruises and retail merchandise were the least popular items for cardholders to redeem points for. BofA surveyed customers and determined exchanging those options for more hotel choices and gift cards would be preferred. [Charlotte Business Journal]

CFPB Warns Companies to Investigate Credit Report Errors
The Consumer Financial Protection Bureau is cracking down on companies that supply information to consumer reporting companies. This should make it easier for consumers to get reporting errors resolved. The CFPB issued a notice today that says these companies–called “furnishers”–are responsible for investigating consumer disputes forwarded by the consumer reporting companies. Furnishers must review all relevant information provided with the disputes, including documents submitted by consumers. [LowCards.com]

How to Stop an American from Charging
The only people in Britain who still have or try to use mag-stripe cards with a signature are foreigners. In theory, this is not a problem. Credit card companies insist that businesses that take their cards accept “any valid card.” So mag stripe, chip-and-PIN, chip-and-signature–it shouldn’t matter to the merchant. The trouble for American travelers arises in large part because many merchants have had it drummed into their heads that if they don’t verify a PIN at the terminal, they could be liable for a chargeback if the customer disputes the charge. This is mostly false. Under their agreements with their banks, merchants commit to using the best available security–so if a chip-and-PIN is available, but not used, they could be held liable. But if it isn’t, then accepting a signature card—with or without a chip–is no riskier for the merchant than accepting a chip-and-PIN. [Wall Street Journal]
LowCards.com Weekly Credit Card Rate Report

Based on the 1,000+ cards in the LowCards.com Complete Credit Card Index, the average advertised APR for credit cards is 14.39%, slightly higher than the 14.38% from last week. Six months ago, the average was 14.32%. One year ago, the average was 14.36%. [LowCards.com]

Best places to live: Where homes are affordable The Colony TX

Provided By: CNNMoney.com

Median home price: $135,863

Median family income: $89,308

Set on the shores of Lewisville Lake, The Colony is ideal for outdoor types. There's bass fishing, boating and swimming on the lake, as well as hiking, biking, picnicking and golf in the parklands around it. The town is so fitness-oriented that it's been designated as an SI Sportstown by Sports Illustrated, in recognition of its athletic programs.
The Colony also enjoys a wealth of housing options, from one-bedroom apartments to lakeside mansions. Whatever the choice, it's bound to be reasonably priced. Cute two-bedroom starter homes are available for less than $100,000 and nice four-bedrooms can cost as little as $135,000.

BlockAvenue relaunches as CO Everywhere

 Provided By: inman.com

BlockAvenue, which started as a real estate-focused neighborhood information site last year, has relaunched as CO Everywhere with an iPhone app that surfaces location-based info from Facebook, Twitter and hundreds of other apps.

 

Users draw a circle on a map in the app and then it surfaces all the recent Facebook, Twitter, Instagram, Yelp, Groupon posts — and many others — from the app’s 1,400 sources, and displays them in a feed.

 

As part of constantly iterating on BlockAvenue “we were pulling apart (application programing interfaces) and the quantities of social data and social conversations that we were able to harness by location was astounding,” CO Everywhere co-founder and CEO Anthony Longo told Inman News.

 

“The big rock that we uncovered was social data,” Longo said.

 

For example, Longo said, he was able to participate in the recent Jay-Z and Justin Timberlake concert at Fenway Park in Boston even though he wasn’t there thanks to the near-live video, real-time tweets, Instagram posts and others he surfaced through the beta version of CO Everywhere.

 

“It gives a deep connection to a location,” he said, and “the ability to see a place through everyone’s eyes.”

5 Mistakes Buyers Make in a Hot Market

Provided By: trulia.com


 While home prices are nowhere near their peak of 6 or 7 years ago, the nationwide data is clear: the housing market this summer has been hotter than at any time since the recession:

• The Census Bureau just revealed that new home starts rose 6.9% in June to their highest level in four years - up 23.6% from a year earlier.
• In April, home prices rose for the first time in seven months, according to the S&P/Case-Shiller home price index.
• The number of home sales pending rose 9.5 percent year-over-year from June 2011 to June 2012, as reported by the National Association of Realtors.

Given this rapid turn of the market, what’s a buyer to do? Maybe take a new approach to prepping for the hot market house hunt. To that effect, I submit that savvy buyers will find more pitfall-preventing power in learning what not to do. Inspired by the last time we had a market heated up by short times on market, low inventory and multiple offers, here are five hot market mistakes home buyers should avoid making:

1.  Acting out of desperation.  Deep inhale - aaaaaand exhale. It’s extremely easy to get caught up in the lightning-fast pace at which the great homes come on and off your local market, growing panicked and even desperate - especially when you see ‘just-right’ homes go from 'New' to 'Pending' status before you can even get an appointment to see them!

But know this: desperation has no place in a home buying transaction. Panic does nothing but cause people to make impulsive and otherwise unwise decisions, ranging from talking themselves into a home that isn’t quite what they really want, to paying way more than they can truly afford to spend (see #s 4 and 5, below).
If you’re in the market for a home, and your local market is so hot it’s causing you to feel freaked-out, panicked or overwhelmed, remind yourself that:

• There are probably hundreds of homes in your neck of the woods that will meet your needs. When one goes off the market, another is on it's way on.
• There is no ‘perfect’ home.  If you didn’t get that one that seems like ‘the one,’ then, by definition, it’s not ‘the one.’
• Every home you see or make an offer on, and don’t get, equips you with a better understanding of the market, putting you in a better position to get the home that will eventually be yours. In life generally, I believe every experience is either a stunning success, or a successful education. Look at the homes you miss out on as an opportunity to get a successful education about the market.

Desperate is bad.  Urgent, however, is good. If you know, for example, that single family, 3+ bedroom homes, near downtown under $400,000 move very, very quickly, then act on that knowledge:

• Ask your agent to notify you as soon as they hear of homes coming on the market that meet your needs - even before they are on the MLS, if possible.
• Give your contact information to the listing agents at Open Houses similar to what you’re looking for and ask them to drop you a note if they get similar listings.
• As soon as you see a new listing that seems like it might work for you, go see it - don’t wait for the weekend. And if you see a home and really like it, make an offer without further ado.  

2.  Hesitating. What’s worse than seeing great properties come and go before you can get out to see them?  Seeing them go into contract after you view them, but before you make your own offer. When the market is hot, often buyers who have been sitting on the fence or simply window-shopping for ages will stumble into a great Open House and decide that it’s time to make an offer, only to realize that their loan approval has expired and it will take a day or two to get a new one. At the other end of the spectrum, buyers who have just started house hunting can come across a home they love, but drag their feet in making an offer because (a) they’re used to a slower-paced market, so don't recognize the urgency and (b) they aren’t 100 percent sure something better won’t be coming right along.

On a hot real estate market, hesitation can be costly.  You can end up in a multiple offer situation where you would have been the only offer a few days prior, or can even end up losing out on a property entirely because another, more decisive buyer swoops the place right out from under your nose.

Morals of the story: Make sure you maintain a current loan approval in place at all times - in fact, I say you shouldn’t be out house hunting if you don’t have a current loan approval.  And, for those new to the house hunt, go Open House hunting even when you aren’t completely in love with the listings you’re seeing online. Once you’ve seen a good number of homes, you’ll have more material against which to compare every other home you see, making you less likely to dither before making an offer when you do find a good one.

3.  Ignoring the market entirely.  I’m not an advocate of making your decisions about whether and when to buy or sell based on what’s happening in the market. Rather, I recommend making your real estate decisions based on what’s happening (and what you forecast and envision will be happening in the next 5-10 years) in your family, your career and your life.  

That said, when it comes time to execute your decision to buy, it’s foolhardy not to take market dynamics into account.  I’ve seen many a buyer over the years decide to stick their heads in the sand and their ears in their fingers, tuning out all of the market ‘noise’ as though it doesn't apply to them.  Unfortunately, in a hot market, this usually results in them getting beat out for 5 or 10 different houses, then having the emotional kneejerk reaction of throwing every single dollar they have at the next house they fall in love with - whether it’s the right house or not, and whether they can truly afford it or not.

You don’t want to fall under the panic-inducing spell of the market, but neither do you want to ignore it. Rather, ask your local agent to help you pay attention to neighborhood-specific information, like:

• which types of properties move quickly,
• how many days they generally stay on the market,
• whether multiple offers are a reality you need to face, and
• how much over-asking homes like the one you want are selling for.

Then, use this information to make strategic decisions about your home buying process, covering everything from which properties and areas you’ll focus on, how quickly you’ll need to get out to see listings and - most importantly - what price range you should focus your search on.  If you know homes are selling for over-asking, engineer your search price range to be low enough that you can be successful, rather than exclusively looking at properties priced at the top of the range you can afford.

4.  Financial fogginess.  Don’t run the numbers in your head.  Don’t ballpark your income, the big bills and such on a notepad, stick your finger in the wind, and decide you can afford X number of thousands of dollars a month for a home. Home buying is the big leagues, financially speaking, so you need to be sparkling, crystal clear on precisely what you can afford. This universal truth of home buying is especially critical in a hot market, where you may be faced with the need to make decisions about whether to increase your price range or your offer price on relatively short notice.

Either keep an income/expense journal, use an online money app like Mint or Manilla or sit down and do a deep dive into your last few months’ checking and other account statements to get a complete picture of what you can afford and to get conscious about what sacrifices might want or need to make.
It is not overkill to bring your tax advisor or financial planner into this conversation, so they can help you understand how your tax situation as a home owner may change, freeing up some extra monthly budget room for your mortgage, property taxes, insurance and HOA Dues or Private Mortgage Insurance (PMI), if applicable. Also, make sure you include line items for your savings, retirement investing, gifts, school tuition, travel and recreation - the sorts of things that lenders will not account for when they tell you what their guidelines say you can afford.

5.  Overpaying.  There are several ways to overpay for a home.  You could pay more than the place is worth, which is difficult to do if you are buying the place with a mortgage loan which requires an appraisal. You could pay more than you need to in order to get the property, which sometimes happens to buyers in multiple offer situations, and buyers who have experienced the trauma of losing out on home after home, and who just decide to make a high offer to get closure and secure a place they like. Whether any price meets this second definition of ‘overpaying’ is difficult to ascertain, as it would require us to know what would have happened in the hypothetical world in which they didn’t offer such a high price and so, might not actually have been the successful buyer.

The antidote to both these forms of overpaying is simple: pulling the comparables before you decide what to offer.  It only takes a minute, your agent will help you, and it’s just not prudent, in 2012, to decide on an offer price without a fresh pull of the sales data on the similar, nearby homes that have recently sold.  If your agent includes active and pending sales in their pull of the comparable data set, you may also find out useful information like whether several other competitive properties have just hit the market, or that all of the competition is now pending - things that might also inform your motivation levels or price strategy.

And there is a third, more insidious form of overpaying that haunts hot market buyers as well: paying more than you can truly afford for a home. It’s fine, even expected, that if you thought you were buying into a depressed market and instead end up buying in a hot one, you might have experienced some upward ‘creep’ in what you’re willing to spend for a home. But that doesn’t excuse letting that creep go beyond what you can truly afford, overextending yourself.  

This form of overspending is also more difficult to do now than it was before the housing market recession began, as lender guidelines a much tighter now than then. But it’s still possible - especially as lenders don’t account for what you should be putting aside for savings, for retirement, for your children’s education and other essential monthly budget items that impact what you can truly afford to pay for a home.  

The only cure for this form of overspending is for you to both know (see #4, above) and to set in stone what your actual, top-line maximum home purchase price is - even if you are the only one who knows this number, in your own head. Your mortgage professional can help you work backwards from the amount of cash you have to invest in the transaction and the maximum amount you can devote to your housing costs on a monthly basis, to arrive at your maximum home purchase price.

Long story short - if you’ve been pondering the prospect of buying a home for long, you might feel like you’ve been sitting in the economy section of an emotional rollercoaster. Prices fell so fast you might have doubted whether buying makes sense at all. Now, with barely a plateau, they’re on the upswing - and every other buyer in town seems to be dropping offers on the choice homes before you can even get out to see them.  Use these tools to avoid repeating the mistakes of the last generation of homeowners. 

Keller Williams Realty Upgrading Associates to Google Apps for Business

 Provided By: KW.Com

AUSTIN, TEXAS (July 1, 2013) — Keller Williams Realty, the largest real estate franchise company in the
United States, announced today that it is adopting Google Apps for Business. The move includes transitioning
associates’ email and calendar systems to Google Apps, which will provide enhanced mobile access, increased
storage, and collaborative tools for teams.
“Consistent with Keller Williams Realty’s agent-centric philosophy, we’re excited to be able to provide our
associates with the powerful productivity and collaboration tools that comprise Google Apps for Business,” said
Executive Director of Digital Innovations Cary Sylvester. “We’re proud to be able to give our associates yet
another set of tools to enhance their businesses at no additional cost to them. Using Google’s familiar, intuitive
tools will simplify day-to-day work so associates can focus on the dollar-producing activities that lead to big
results.”
With Google Apps for Business, every Keller Williams Realty associate will be able to take advantage of:
 Gmail, Google Drive, Google Docs, Google Calendar and more
 Access from any internet-connected device—including laptops, smartphones and tablets.
 Thirty GB of online storage.
 New communication and collaboration tools that allow them to connect instantly with Keller Williams
associates or any other contact through text, voice or video chat.
 Integrated training and support from the Keller Williams support teams.
“We are committed to putting our people and their best interests at the center of every decision we make,” CEO
Mark Willis said. “By providing leading-edge technology and training, we are helping all of our associates to
build great businesses and provide extraordinary service to their clients.”

About Keller Williams Realty, Inc.:
Keller Williams Realty Inc. is the largest real estate franchise company in the United States, with approximately
700 offices and 86,000 associates around the world. The company has grown exponentially since the opening
of the first Keller Williams Realty office in 1983, and continues to cultivate an agent-centric, education-based,
technology-driven culture that rewards associates as stakeholders. The company also provides specialized
agents in luxury homes and commercial real estate properties. For more information or to search for homes for
sale visit Keller Williams Realty online at (www.kw.com)  

Things not to do before closing escrow

You're about to buy a home, and are now "in escrow," the homestretch of the home-sale process. During this period, you as the buyer will provide the needed funds for the home (most likely from your lender and with your down payment), the owner will transfer ownership of the property and the sale will be finalized.

Which means that if everything goes right -- all contingencies are met, both the seller and the buyer meet their contractual obligations and your financing to purchase the home is in place -- the home you have been aiming to buy will soon be yours.

But even though closing day is just around the corner, you're not out of the woods yet. There are several missteps a home buyer can take that will put getting a loan, and finalizing the transaction, at risk. Read on to avoid these goofs:

1. Leaving town or falling off the planet

   Going on vacation or becoming hard to reach while in escrow is not a good idea, especially if your lender needs to get in touch with you to process your loan. Any glitches in that process can push back the closing date for your home. For the same reason, it's not a good idea to change your cell-phone number right now. It's best that you keep in touch with all necessary people while you are working to close on the property.

2. Changing jobs

   When you're looking to close escrow and take possession of a home, you don't want to make your lender uneasy. Changing jobs (or going solo/self-employed) during this time period could certainly make a lender queasy and lead that lender to question whether you'll be able to afford that home. Lenders prefer a steady and consistent job history. If you make a job switch just before closing on a home, it could put everything on hold while your lender re-evaluates your financial position.

3. Being a big spender

   You're about to get a new house, so why not whip out your credit cards and buy a new washer/dryer, dishwasher and refrigerator...or maybe, take out a loan for a new car for your new driveway?
   Because these big purchases (and taking on more debt) will throw off what's called your "debt to income ratio" (which measures how much of your monthly income goes toward debt obligations), a ratio lenders consider when evaluating a loan application. You don't want to end up buying items for a home you don't have -- one that you lost because you nixed your chances of securing that mortgage before it went through.
   You might even run into trouble if you pay for these items with cash -- lenders look at how much cash reserves you have when approving a mortgage. And don't think you're off the hook if you lease a car instead of purchasing one -- leasing a new car at this time could jeopardize your standing with your lender as well.
   Instead, try to keep the balances on your credit cards low and don't take on new debt (this includes co-signing on a loan) until after you close on your home.

4. Paying bills late

   If you're about to close on your home, stay current on your bills -- you don't want to wreck your credit score just before your loan goes through. Any changes to your credit status could affect the likelihood of closing on your new home, so you want to keep your credit good -- at least until you close on your home.

5. Opening/closing new credit card accounts

   Opening up new credit cards or closing old ones just before closing on your new home could negatively affect your credit status, so again, wait until making such moves until your mortgage is secure.

6. Moving big amounts of money

   Before that home is definitely yours, don't transfer large amounts into your checking or savings accounts -- check with your mortgage company before doing so. If they see large amounts of money moving around, they may wonder why and raise the red flag. (E.g., they may think you've secured another loan and have more debt obligations than you did when initially applying for the loan.) Again, you don't want anything to delay or hold up your closing.