Count me in. I’m curious to see how many show up. The response to the “Beer with Bloggers” at the Inman Connect Conference in San Francisco was extraordinary. Let’s hope there’s beer…. Thanks again to Ben Martin for his initiative.
Date Archives September 2007
Getting ready for another MLS PAG
Working in a vacuum sometimes has the feeling of working in an echo chamber, no matter the extremely high caliber (myself excluded) of people assembled.Selectively cutting and pasting from the comments at the GeekEstate post:Real estate brokers go to only one place to search for homes to show their buyers: their local MLS…. Now the conversation is confusing Trulia, Point, Google Base, Zillow and others with the MLS, when, in fact, the MLS isn’t technology at all but a process by which competitors have agreed to cooperate with each for the good of all involved in the transaction….Yet consumers don’t want to search many sites, they want to search one…. Arguably, MLS’ have the best historical data available, and perhaps the best current housing data – current actives as well as under contract (pending) properties – that is one of the reasons that local and national Realtor associations are called upon to give market analyses for the media.If Realtors can guide their associations and members to see the value of working together in this, we might have something…. I, for one, would love to to be confident that I, as a buyer’s agent, was searching the entire inventory.Two final choice snips from the excellent GeekEstate conversation:However, it seems as if both entities would better serve the interests of their customers – the agents – if they became more part of the conversation like the smart people at the FBS Blog.The truth of the issue is that in the near future there may not be an opportunity to have this discussion.We would do well to move forward with expediency, urgency and efficiency.
Upgraded Worpress
To 2.2.3. If there are any functionality problems, please let me know.
Carnival of real estate #58
…Â is up at real/diaBlog.
Countrywide in the Charlottesville market
I added my two cents here and there and debated italicizing my comments/editing, but felt that that would have detracted too much from the readability.What will Countrywide’s laying off of 12,000 employees mean for the Charlottesville real estate and loan market?According to a Charlottesville area loan officer who spoke with a Countrywide employee, he said they are hiring Loan officers left and right, which theoretically means that they are firing back office, processors and underwriters (Read: slower underwriting turn times). Loan Officers work on commission, so they hire as many as they can and if someone can’t produce, it doesn’t hurt their bottom line (though in reality they do – in benefits, by costing management time and effort and hurting morale in the office – very similar to the aging “fill-a-desk mode that has driven the real estate model for so long)…. My point is that Realtors, especially those who follow the economy can see through their smoke and mirrors.So, I have two issues: One – there are very good Loan Officers at Countrywide that we’d love to pick up in our shop, but only a few – we don’t hire if you have a pulse…. Well, guess what, “I’m not Countrywide, and I’m glad about that.”Perhaps this commenter at Calculated Risk said it best:The market will be the decider when it comes to who lives and dies, maybe the smaller regional banks with lower overheads will become the winners over the long haul, it will be interesting to see it play out but for sure we don’t need all the players on the field today.Very sorry for the many families who will be affected by this economic down cycle not only citizens facing job loss but also the many homeowners facing dificult choices, all this is going to extract a terrible price to our social and economic well being.More at Bigger Pockets.
What should the Martha Jefferson neighborhood look like?
Dave Norris put together an impressive array of historical photos (read the comments, too) of the Martha Jefferson neighborhood and raises the question – if the Martha Jefferson community had input, what would become of the Martha Jefferson campus?The Martha Jefferson Hospital is the major center of activity and employment in the plan area, which generates some related uses in the neighborhood …For 90 years, Martha Jefferson has been the hub of this part of the City of Charlottesville. What should the new hub look like?C-Ville asked the question last week; likely there will be a mix of development – condos (what price-point?), mixed-use retail, and be fiscally viable – remember, this isn’t a charity; even with possible proffers, the redevelopment has to make economic sense.If you had to choose – what direction would you point the Martha Jefferson folks?… Grocery store?… Youth center?
Foreclosures, Charlottesville and CNBC
It is not a nationwide issue.”From the Mortgage Bankers Association:These four states (California, Florida, Nevada and Arizona) have a disproportionately high share of investor loans, or loans to buyers who do not plan to live in the house. As of June 30, the non-owner occupied share of defaulted loans (90 days of more past due or in foreclosure) was 32 percent in Nevada, 25 percent in Florida, 26 percent in Arizona and 21 percent in California, compared with 13 percent in the rest of the nation. These investors are much more likely to default on their mortgages if they see the value of their investments falling due to falling home prices.Foreclosures in the Charlottesville area seem to be holding steady (there are only four listed this week in the HooK). The Virginia Association of Housing Counselors is commendably holding a “Foreclosure Summit” on 25 September (pdf); when I asked whether they had any data showing whether they had any accurate data on the current numbers of foreclosures or any projections on what the rate will be in 6 to 12 months, the answer was “no.”