In episode 15 of the Wheel Estate Cam, Frank LLosa discusses how backup offers can seal the deal in today's economy, providing a win-win for agents, buyers and sellers. By offering a backup offer, you can lead buyers into being more aggressive as well as attract other buyers in case a previous sale doesn't close.

View the original post on Inman News here.

Posted in Education And Training, Marketing, Seller Resources

Over the next year, lenders are expected to make about $36 billion in new home equity loans, compared to $34 billion in 2008, according to Moody's Economy.com. Most of this money is expected to go towards home improvements rather than luxury items.

The 2010 growth in equity lending will be limited to homeowners whose properties are worth more than what they owe. According to Zillow, more than a fifth of U.S. homes with mortgages had negative equity in the fourth quarter.

Despite the economic distress, unemployment claims are lightening and banks are done tightening their lending standards. Property prices are expected to rise this year, the first time since 2006, raising home owners' equity.

Read more in the Bloomberg report on BusinessWeek.com.

Posted in Education And Training, MBI News, Buyer Resources, Seller Resources

Selling expired listings may not be for everyone, but Realty Times' Dirk Zeller offers some great advice on how to prospect expired listings, saying it can be the core of any real estate professional's business.

Everyday, there are new expired listings, a streaming source of leads that are easy to find. While some of the sellers of these listings may be tired from trying to sell, they still ultimately want to sell, and a great majority of these are looking for or need an agent--you!

The key to sealing the deal on expired listings is the CAP method: consistency, attitude, and most critically, persistence. By focusing on the CAP system daily, you can follow up effectively to prospect these leads.

Read more at Realty Times.

Posted in Marketing, Seller Resources

The FHA is tightening its belt when it comes to mortgage loans, on the heels of an investigation into 15 FHA lenders whose FHA mortgage insurance claims were markedly high.

Myriad notices and comments about the impending qualification changes have been announced, but will take effect this spring, including raising mortgage insurance fees that borrowers must pay, capping the amount of cash that sellers can contribute for closing costs and requiring higher down payments for borrowers with poor credit scores.

With foreclosure rates tapering off in February compared to January, there is hope on the horizon, albeit rates are still higher than that of the previous year. The FHA is insuring as many as 50% of all purchase loans, as compared to 3% before the collapse of the subprime market.

With the tighter restrictions on FHA loans, the options for seeking other financing simply don't exist, making some wonder if this will add fuel to the fire to the weakened housing market.

Read more at Realty Times.

Posted in Education And Training, MBI News, Buyer Resources, Seller Resources

DocuSign has announced the release of DocuSign REALTOR Edition, specifically tailored for and available to members of the National Association of Realtors® (NAR).

The announcement followed an earlier statement from NAR declaring DocuSign the official and exclusive ESIGN provider for their 1.1 million REALTOR Benefits® Program member, late last year.

DocuSign Realtor Edition's enhancements and features include special NAR member-only branded signature and templates, an online dashboard, mobile signing, workflow optimization, and integration with real estate tools.

Read more at RISMedia and sign up for a free trial at DocuSign.

Posted in Technology And You, Seller Resources, Online Education