The real estate market is challenging throughout the United States.  For the first time in nearly thirteen years, U.S. home prices experienced a quarterly decline, according to the Office of Federal Housing Enterprise Oversight (OFHEO, November 29, 2007).  Additionally, single family home sales fell by 13 percent in 2007, which was the largest drop in 25 years (CNNMoney.com, January 24, 2008).  Credit markets are in turmoil and the stock market is down from last Summer.  As a result, it is harder to make a living representing buyers and sellers as a real estate agent.

First American CoreLogic, a member of The First American Corporation family of companies and America's largest provider of advanced property and ownership information, analytics and services, announced this week the release of REiSource, a new Web-based real estate information gateway to the most complete and accurate suite of property profiles, new homeowner and refinance lists, resale trends, mortgage leads and custom reports for title insurance companies.

ZIPVO is a newly launched real estate video sharing website that allows agents to enhance, market and broadcast their listings free and easily through the use of video, PhotVideo, blogs and agent profiles. After launching in September the company has now upgraded to their public beta 2.0 version. Their is also a whole social networking and blogging system in place. Visit www.zipvo.com for more information.

NO HOUSE LEFT BEHIND ought to become the mantra of every real estate agent.   As we deal with the consequences of a sluggish market, it becomes essential that a certain degree of renovation should take place prior to the listing of every home.  That is if you’re hoping to attract the selective buyers who have an over abundance of choices.

I would really like to get some feedback on this topic.  This post comes from my observations of the Arizona Association of Realtors adopting Stewart Title's SureClose application and making it the transaction management tool of choice for their entire membership. It is an opt-in program so brokers don't "have" to use it.  If they choose to sign on, the application is covered in their current dues structure...fine and dandy but what about those who already have a transaction management platform and don't want to switch? Will the association give them back that portion of their dues so they can pay their vendor of choice?

Real Estate Wiki, announced this week the addition of over 70 Frequently Asked Questions (FAQs) to help renters with handy information about the process of leasing a home instead of buying.  According to Real Estate Wiki, this new addition of leasing information is an example of the kind of industry focus a specialized wiki can provide. The FAQs included topics such as: 

The Luxury Home Council, a 1600 member group of REALTORS® who specialize in selling luxury homes, announced today the release of a new online version of their popular Accredited Luxury Home Specialist designation course. The ALHS course which will continue to be taught live nationwide includes information on national and local housing trends, specialized luxury buyer and seller needs, development and delivery of unique services, representation, liability and risk management, negotiating, builder services and marketing.

Any woman who’s ever has her favorite lipstick or eye shadow color discontinued might relate to this one.  Horror of horrors, my tried, tested and trusted paint color – the interior color that goes with traditional, contemporary and eclectic décor schemes alike had been discontinued.  To make matters worse, I was the last one to find out.

When a past student brought it to my attention and after I had wiped the egg off my face I jumped into action.  Always of the belief to keep it simple, I set about looking for the most up to date, practical for all styles of room, in all states of the country, paint color for home staging.

Toll Brothers, the nation's largest builder of luxury homes, said this week 28 percent of customers canceled agreements in the fiscal quarter ended Jan. 31.

Toll Brothers, beset by customers walking away from agreements to buy new homes, said that one cancellation last month came from the daughter of co-founder and Vice Chairman Bruce Toll.

Wendy Topkis and her husband, Douglas, told the company last month that "they did not intend to make settlement" on a $2.5 million Florida condominium, according to a filing Friday with the U.S. Securities and Exchange Commission. Toll Brothers said the company "intends to pursue its rights" under the purchase agreement.

New real estate wiki for real estate industry is launched. 

History of wikis in real estate
BiggerPockets (launched in 2006) claims to be the first real estate wiki but it unfortunately closed down in May 2007 due to lack of sufficient content.  Introduced shortly therafter, and still going strong, is InmanWiki (part of InmanNews, InmanTV and InmanBlog).