Real Estate Weekly: Your Source for This Week's Real Estate Stories. 1. Is this a case of the rich getting richer? Or is it just good old-fashioned Econ 101 at work? Actually it's both. 2. Hot homes go cold. 3. Where the buyers aren't. 4. Bubble? The market won't pop, housing expert predicts. 5. Vacation homes defy a slowing market. 6. What to do about a last-minute mortgage switch. 7. Inflation fears drive mortgages up. 7. How an influx of new homes could affect one's family life. 8. Local trends matter most in home-buying decision. 9. Bargain hunting overseas for retirement properties. Click here to read more.
One-Third of Residential Real Estate Transactions Have Title Issues, According to Survey. According to a 2005 member survey by the American Land Title Association (ALTA), title problems were found in 36 percent of all residential real estate transactions (new and resale homes, and refinances), up from 25 percent in 2000. The "Abstracter and Title Agent Operations Survey" tracks changes in the title industry, including the number of orders received and percentage of title issues discovered and repaired prior to closing or escrow. According to Rande Yeager, president of ALTA, "The most frequent curative action taken last year was obtaining releases and/or obtaining pay-offs for discovered liens, such as prior or existing first or second mortgages, unpaid child and spousal support, outstanding taxes, and other judgments against the property." The next most common curative action, according to Yeager, was obtaining releases for assignment on deeds of trust/and or mortgages, followed closely by recording errors of names, addresses, or legal descriptions of the property. Click here to read more.
Survey: Brokers, agents favor consolidated MLS. An overwhelming majority of real estate agents and brokers believe a consolidated Multiple Listing Service would improve their productivity, according to a survey by the Northern California Real Estate Exchange. The group of six Northern California MLS organizations, which are working to merge into a regional system, polled their 40,000 members in March. Of the 2,275 real estate agents and brokers that responded, over 80 percent of brokers said a single MLS would "definitely improve the productivity of their business." Currently, agents and brokers in some areas have to work with two or more MLS organizations, which provide information of available homes and home sales. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
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