I love the idea! Thanks for putting it all together!

Real Blogging is very useful  place to know about some latest information about real estate market and new deals.

Condominium Association Management Charlotte

can anyone please explain , what is foreclosure number?

This is really a appreciable thing that you have started a Real Estate Industry where everyone can share there thoughts about what's going on in the Real Estate Industry.
Vinay

We've been noticing an increase in strategic defaults, where homeowners are simply giving their homes back to the bank. I would suggest homeowners first try a strategic short sale before going into foreclosure. A short sale has a far less detrimental effect on a homeowners credit and lending eligibility in the future.

Are homeowners associations helpful or a hindrance to selling a home? In my opinion HOAs should be reviewing their covenants to make it easier to sell a home in their community. To put endless restrictions on everything from signs in the yard to when an open house can be scheduled, the HOA is hurting their own neighborhood. Without being able to properly market a home, the only tool available is price. Each time a seller lowers their price, every other home in the community goes down in value. Should it get to a critical point and the homeowner walks away or ends up in foreclosure, the HOA has to deal with a deserted property and maintenance of the landscape. If they thought they were protecting their beloved community by their misguided covenants, they should listen to potential buyers' reactions when they drive through down the streets and see the blight from deserted homes. To add insult to injury, when a real estate agent participates in the HOA tyranny, that agent should lose his license. He's supposed to protect his clients' interests by helping everyone sell their house, not acting like the lord of the land.

I don't see the blogers on the left

Thank you for starting the Real Estate Industry Blog. It is a great idea and wonderful to hear from the industry on all issues related to real estate transactions. I have put a link to your blog from my Illinois legal focused blog, called the Illinois Real Estate Blog at http://illinoisrealestateblog.....

Good luck and continued success on your blog. I know I'll be checking back often for news and informative posts!

In response to Keith's comment. I would say that as a REALTOR myself, and someone who charges a percentage for my services the difference in how I'm paid for my work and the way an accountant or doctor is paid is that I am paid a "success fee" instead of an hourly fee, meaning I only get paid if I am successful at doing my job.

Imagine only paying your doctor if he cured you, or only paying your accountant if he was able to get you a tax refund. Good luck. Yet, I agree everyday to only be paid if the seller get's exactly what he or she wants. Frankly I would in some instances much prefer to be paid for every hour of my time, because in some cases even though I have invested thousand of dollars worth of my time into a project I never do get paid.

If the majority of clients like you prefer an hourly rate, market forces will bring these services to you, and in many markets many of my friends are practicing under a hourly model already. In other markets some agents are offering clients the option of either a success fee, or an hourly fee.

The assumption that this will reduce a clients overall costs may or may not be true. What you can count on is that REALTORS are powerless in the face of consumer demand. If consumers demand hourly services they will get them.

But be careful what you wish for, the next time you visit a REALTOR he may send you a bill for $400 for taking up an hour of his valuable time.

It saddens me to hear all the opinions of "bad" Realtors from the consumers. We as an industry in our hiring and training/education programs have allowed this extreme level of service. The good news for the consumers is that they do have assess to the top level of Realtors in a new consumer driven website. Most consumers don't know how to find the quality, service minded Realtors. Most people don't realize that alot of real estate sales people may not be a Realtor. A Realtor has strict guidelines and are to follow the code of ethics. Yet, some chose not to follow the code and give the higher level of service. There are great Realtors out there,ones who are committed to quality service and exceptional skill in the state of the market and finance options right for you. Not everyone needs to buy a listing, by telling the seller what they want to hear rather than what they need to hear. The pricing, condition, and economic factors will determine your success in selling. A good Realtor can help you assimulate the market data and get your property sold.

I would like realtors to comment on the practice of multiple relisting of the same property to reset the "Days on Market" and make the property appear as if it is a brand new listing. So many are doing this that the statistic of "Days on Market" is now completely worthless. Yet real estate professionals continue to use the "Days on Market" as proof that the market is healthy. Why do MLS services continue to allow this practice? And why are regional and national Realtor Associations continue to condone the practice?

I'm still waiting for a response in regard to the practice of re-listing properties, thus giving the property a brand new listing date and erase the Days on Market counter to ZERO. I already showed an example here in Irvine where the True Days on Market is well over 400, yet due to two resets, the Days on Market shown is only 50 days. I really would not care about this except realtors are all using the stable Days on Market as an indicator of the market being stable. Yet, the same realtors are manipulating this statistic for their own gain. Please tell me how this is different than an use car salesman turning back the odometer?

At the MRIS the Days on Market accumulates unless the property has been withdrawn for a period of 180 days. If it has, it is reassigned a new MLS # and the meter begins anew.

The market has turned. Check this out on the WSJ.

Learn how to do short sales. There will be lots of them coming up!

Realtors are sales people. They are "car salesmen" and should be treated as such. I am not sure realtors are needed now, but if you do use one, insist on a flat fee. I mean, does it really take twice as much effort to sell a $500K house vs. a $250K house? Why the commission?

Be wary of the so-called "buyer's agent". On a commission based system how can there be "buyer's agents" who really have the buyer's best interests in mind? The buyer's agent still wants to see the selling price be as hight as bubbliciously possible.

Like clockwork, every 6 months, the same realtor presses a reset button and get a brand spanking new listing date. The current days on market for this property is only 53 days, but the true days on market is 411 days!!! Where is the truth in advertising? This is almost as bad as used car sales people turning back the odometer.

x1 CLIMBING VINE, Irvine, CA 92603
Bedrooms: 3
Full Baths: 2
Partial Baths: 1
Square Feet: 2,500
Lot Size: N/A
Year Built: 2004
Listing Date: 03/02/05
Status: INACTIVE
MLS #: P438681

x1 CLIMBING VINE, Irvine, CA 92603
Bedrooms: 3
Full Baths: 2
Partial Baths: 1
Square Feet: 2,500
Lot Size: N/A Year
Built: 2004
Listing Date: 09/07/05
Status: ACTIVE
MLS #: P469567

x1 CLIMBING VINE, Irvine, CA 92603
List Price: $1,900,000
Bedrooms: 4
Full Baths: 2
Partial Baths: 1
Square Feet: 2,500
Lot Size: N/A
Year Built: 2004
Listing Date: 02/24/06
On Market: 53 days
Type: SFR
Status: ACTIVE
MLS #: S428944

True Days on Market: 411

Great idea on a realtor central blog. However, you really need a help wanted section, as most of your readers will be unemployed and desperate in a few more days if they're not already.

Oh, and maybe a section on morals and ethics - they missed that class in realtor school

Congrats! I look forward to reading and contributing on a regular basis.