By Don Dunning | August 10, 2010
Two recent news bits reinforced my observation that people behave in ways that often can be considered irrational. Item 1: An online story I read last week about a real estate survey that indicated, in today’s market, buyers have a significantly higher opinion of the agent who represents them than sellers have of their agent. […]
Read MoreBy Don Dunning | August 7, 2010
A Florida company that helps For Sale by Owners (FSBOs) recently filed for liquidation. It reminded me of how much knowledge and skill is required to successfully represent sellers, especially in today’s market. Needless to say, if competent agents are having trouble getting their listings sold, it is that much more difficult for most owners […]
Read MoreBy Don Dunning | July 30, 2010
The next time you pick up a flyer at an open house, you might see an odd design stamped in a corner. Called a “QR Code” (Quick Response), its purpose is similar to the bar codes used in stores. It provides an electronic link to further information. Using your smart phone to photograph the QR […]
Read MoreBy Don Dunning | July 24, 2010
As a result of the mortgage meltdown, lenders are now hyper-cautious about who gets their money. A recent L.A. Times article, “Lenders’ Data Mining Goes Deep,” explains how banks use “data mining,” i.e., delving into seemingly insignificant information, available online, about their borrowers to make or change lending decisions. An example that seems amusing, but […]
Read MoreBy Don Dunning | May 22, 2010
I have always counseled my buyers to be careful not to take on additional debt, or to even apply for more credit, right before they purchase a home or during the escrow period. This is because banks use ratios of borrowers’ debt to income to grant or refuse loans. In an effort to tighten up […]
Read MoreBy Don Dunning | April 25, 2010
The Federal National Mortgage Association, Fannie Mae (FNMA), recently changed its policies regarding deeds-in-lieu-of-foreclosure, by shortening the waiting period from four to two years for getting a new loan. This modification has been made “to reinforce the importance of borrowers working with their servicers when they are having difficulty repaying their debt,” per FNMA. They […]
Read MoreBy Don Dunning | April 22, 2010
On March 25th, I wrote about the additional 200 million dollars, for new and existing home purchases, that will become available for certain residential real estate purchases beginning May 1st, “Governor Signs New CA Tax Credit Into Law.” Unfortunately, according to calculations by California Association of Realtors economist Robert Kleinhenz, funds for this second round […]
Read MoreBy Don Dunning | April 11, 2010
More than 22,000 homeowners who bought in the past nine years answered a recent survey. Done for builders to help them understand current buyer preferences, the key finding was that these owners plan to be “more practical” in their next purchase. For this group, big kitchens that include an island are still a must-have, but […]
Read MoreBy Don Dunning | March 28, 2010
On April 22nd, a new federal regulation to protect children from lead poisoning is scheduled to be implemented. The Environmental Protection Agency (EPA) mandate will require “contractors who work in older homes…to become certified by a government-approved trainer and follow certain precautions, such as covering floors with plastic sheeting and dressing workers in protective clothing,” […]
Read MoreBy Don Dunning | March 25, 2010
This has been a good day for real estate. First, Federal Reserve Chairman, Ben Bernanke, declared that current, near-zero, interest rates need to be maintained in order to stimulate the economy. That was followed by an announcement that the governor had signed AB 183, providing an additional 200 million dollars in tax credit to California […]
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