With over 10% of the world’s population counted as loyal members and hundreds of millions in disposable cash, high-growth tech companies like LinkedIn, Facebook, and even Groupon have sparked the Northern California real estate market.  Top level employees looking for a place to stay have revved up excitement to late 90′s levels; particularly in Palo Alto, also known as Silicon Valley.

And it’s not just the techy kids.

Wildly successful venture capitalists like Yuri Milner (early investor of Facebook and Groupon) have rewarded themselves with head-scratching $100 million mansions. Just like the old days –  Silicon Valley — we’re back in real estate business.

Or is it?

Let’s take a look.

In Palo Alto, average listing price is up .6%, plus $12,949 in asking price from the prior week,and an increase of 4.2%, or $82,915, compared to the week ending Sep 21. Not bad.

Homes being sold July to September of this year saw an increase of 16.1% compared to the prior quarter but a decrease of 2.9% compared to the prior year. Not good.

It seems to me that sellers feel more confident in getting a good price on their home, and not without merit, as the general view of the market is upbeat due to the resurgence of Tech IPO’s (Facebook expected to be in 2012).  On the other hand, buyers are still unsure about making over-the-asking price offers.  It’s still a buyer’s market (majority of sales price not  over asking price, unemployment is relatively high for the greater CA ), but there is data suggesting that the increase in home values may come sooner rather than later.

For the most part, Silicon Valley won’t turn heads as an investment for the smart readers of this blog.  But look out for great deals around the area, as employment around the Silicon area is gaining steam.  Google just released monster quarterly earnings netting them 33%  increase year over year.  Google’s main building is at Mountain View, which has houses less than $200,000. (As Always, start with the simple but dependable 50% rule when considering investments.)

Other areas worth looking at are: Crescent Park, Old Palo Alto, Barron Park, Evergreen Park, Midtown, and College Terrace.

What does this mean for the Greater San Francisco / Northern California Real Estate?

To get a better picture of their local market I talked to a Realtor in Berkeley, and she reported to me that she has been seeing multiple offers on five to six hundred thousand priced properties.  Lowball offers are being routinely rejected. 

Does this constitute an “apple does not fall far from the tree” phenomena?

I don’t know. 

I think it’s too early to call a bottom but something seems to be happening.  Of course, double dip is still a market possibility in almost all real estate areas.

As big name cities in Northern California are starting to show signs of stability, dare I suggest a closer examination of surrounding areas? Start looking under the rocks.  Keep tab of what you see and look for sustained trends.  You should even check going rental rates versus listing prices.  With the power of the internet, the more information you can get, the better.

Photo: Christian Rondeau

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

Traces of Smoke in Silicon Valley and Other Real Estate News Out Here in the West

The turning of a calendar page from one year to the next often brings with it a renewed sense of optimism. In recent years it was more like, “Oh no, here we go again.” Predictions would forecast more of the same. More foreclosures, more lost jobs, lower home prices, and more of the same old muck and mire. Even the eternal optimists had turned downright pessimistic.

For so long real estate investors clung to the hope of a turnaround. Then it became a wish that things would stop falling. Next came changes in strategy in order to make money while things were going to Hades in a hand basket. However, a funny thing happened on the way to Armageddon – a wee bit of optimism returned. Sure some places saw signs of hope, but Las Vegas? Surely someone is spiking the Kool-Aid.

A Ferris Wheel…Really?

Without warning it was announced that the local government had approved a plan for an amusement park and Ferris wheel on the famed Las Vegas Strip. Not just any Ferris wheel, but a 500-foot tall behemoth. It would be the largest such structure in the western hemisphere and third-largest in the world. Why would a company want to build such an attraction in Las Vegas considering the way things have been for the last several years? Because they see signs of things changing and want to a leader not a follower. Las Vegas also attracts more than 35 million tourists each year and an amusement park could be a very good fit.

They aren’t the only ones. Zappos, the online shoe retailer, is moving their headquarters, along with a thousand jobs, to downtown Las Vegas (article). While the company is moving from nearby Henderson, they are hiring additional employees had been considering leaving the state altogether. Why are they staying? The favorable tax climate and available workforce are two main factors. There is already talk of this move spurring a number of entrepreneurs to open restaurants and bars in the downtown area. It will certainly help the housing picture.

In addition the local economy is showing signs of increased consumer spending. So much so that Station Casinos, a chain that caters to locals, is in the process of hiring one thousand additional workers. On top of that there is a new stadium and shopping area proposed for the local university that has an excellent chance of coming to fruition (article). In addition, the Cleveland Clinic recently opened the Lou Ruvo Brain Center and there is a performing arts center being built in the downtown area.

A Long Road

To be sure, a recovery in Las Vegas will take some time. But lately it seems as if there are more reasons to be optimistic than there have been for years. I’ve heard from entrepreneurs who feel that this is an outstanding time to be starting a business. Retail and office space is plentiful which makes it easy to negotiate favorable terms. At the same time an increase in consumer confidence and spending increases the odds of such ventures succeeding. So while problems are plentiful, there is actually some real optimism in the air.

For real estate investors this may be a golden opportunity. Purchasing property in the path of this progress could prove to be quite lucrative. More business means more workers. More workers means there will be a need for additional housing. If more homes and apartments are required there will be plenty of opportunities to make money. Are boom times returning? Highly unlikely. However, the reduction in prices over the last several years means that it is possible to turn a real profit. Suddenly Las Vegas doesn’t seem to be such a crapshoot.

In Vegas, I got into a long argument with the man at the roulette wheel over what I considered to be an odd number. – Steven Wright

Photo Credit: Maurice

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

Las Vegas: Zappos, 500-Foot Ferris Wheels, and…Real Estate?

Looking for a silver lining in all the gloom-day real estate news of the day? Corelogic released its negative equity report for 2nd Quarter 2010. Perusing the headline and content of the report, it is promising: 11 million (23%) homes of all residential homes secured by a mortgage were underwater at the end 2Q 2010, compared to 11.2 (24%) at the end of 1Q 2010. Since the report was released, I have heard a number of real estate agents touting this stat as an indicator that an economic recovery is well under way and market stabilization is forthcoming.

For those who did not take the time to read the entire data, let me be succinct in my point: This is NOT a result of market stabilization or value increases! The decline is primarily caused by properties going into foreclosure. So is that good news to the homeowners who (although underwater) have continued to meet their financial obligations, at times by great personal sacrifice? Hardly. As these foreclosures are sold at under-market value, the value of other homes in the area will also be negatively impacted. Obviously distressed properties must be absorbed by the market before long-term growth can commence, but when did basing opinions (which are then told to consumers/clients) on partial data become fashionable?

To briefly recap the report, 5 states are the hardest hit by negative equity: Nevada (68% of properties with mortgages are ‘underwater’), followed by Arizona (50%), Florida (46%), Michigan (38%), and California (33%). Of the metro areas (with at least 50,000 mortgages) analyzed Las Vegas suffers the most, with homeowners with negative equity at 72.8% and a whooping Loan-to-Value ratio of 131%. Other metro areas worth noting: Stockton, CA (62.4%), Modesto, CA (59%), Phoenix, AZ (56%), Reno-Sparks, NV (54.6%), Port St. Lucie, FL (54%), and Orlando, FL (53.9%).

I’m an optimistic person by nature, but I’m also very realistic and base my opinion on FACTS. Yes, the market will recover at some point in the future but until it does, I know here we can talk real estate with some real perspective: the BiggerPockets Blog.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

Negative Equity Declines: Is It Good News?

During this most recent mid-month week of housing news, the Obama Administration released its recent Housing Scorecard, Freddie Mac’s interest rate survey continued to shock both analysts and borrowers, a reversal occurred in the latest purchase application trends, and Deutsche Bank made a bold prediction about residential construction jobs. And to close out in the spirit of the word “double-dip”, you’ll get your fill of that too.

Administration: Housing Stabilizing

The Obama Administration released its third monthly Housing Scorecard and deemed that housing prices are“stabilizing”. It also says the market is still fragile as high rates of delinquency still exist and the foreclosure pipeline is still full.  The scorecard shows that twice as many modifications have started as foreclosures completed, showing the administration is focused on helping homeowners who are behind on their mortgages. The scorecard used the Case-Shiller Index and the Federal Housing Finance Agency (FHFA) index to determine 30 months of price declines in housing have finally been stabilized.

Although the prices may have stabilized at this point because of the home buyer credit, I think it’s premature to say the recovery more than weak (nationally) now. Also many of the programs in place to help homeowners don’t affect the average person who’s paying on time and has a high interest rate but is presently underwater. I’ll be curious to see how the housing scorecard looks after the home buyer credit purchases cycle through.

Interest Rate Update: Records are Made to be Broken

This week Freddie Mac’s mortgage interest rate survey showed yet another record low interest rate as the 30-year fixed declined from 4.44% to 4.42% last week. The 15-year dipped to 3.90% from 3.92%. Rates have been consistently in decline since June 17^th leaving consumers with the ability to borrow at historically low rates and low home prices.

The low rates simply aren’t enough to stimulate growth. In fact, Kansas City Fed President, Thomas Hoenig maintains that we need to start increasing rates slowly to ease into the inflationary period that is to come with the high cost of deficits. Opponents say the low rates are needed to stimulate spending and investment, but it doesn’t appear to be working. I was talking to a colleague of mine here in New York and he was theorizing that gradual purposeful increases may actually stimulate rates more as consumers feel they may be missing the purchasing opportunity.

Mortgage Purchase Applications Retreat After 4 Weeks of Gains

The Mortgage Purchase Index declined by 3.4% from the previous week as the Refinance Index increased by 17.1% from the prior week. The percentage of applications which were refinances increased to 81.4% from 78.1% over the prior week. Refinances dominated the marketplace showing that people are continuing to restructure debt.

This decline in purchase activity is very concerning as rates simply aren’t enough to cause people to purchase. This, to me, shows that the consumer is not confident. Consumers are staying where they are rather than upgrading or even upgrading for larger homes at the same monthly commitment. Instead they’re restructuring debt and living with what they have. Business are following suit and choosing not to take out new debt despite low rates.

Potential for Another 1 million Job Losses in Residential Construction

Deutsche Bank predicted this week that as many as 1million more jobs will be lost in the residential construction industry. This is after an already estimated 1.6million jobs have been lost in the sector. Deutsche Bank says the ratio of workers to output (housing starts) is still unbalanced. At the same time, the bank does expect to see housing rebound somewhat despite July starts missing expectations.

While housing starts maintain depressed levels, and builders still have too many people, we’ll likely see them trim further. The report showed that nearly 10,000 residential construction jobs are being lost each month in 2010 which is in decline from the initial reductions when the bust occurred. Builders have been likely holding on as long as they can to employees in hopes of a rebound that simply isn’t coming back. I think the same can be applied to many business who simply have excess capacity in the current environment. Businesses want to expand but are unable to despite low interest rates and conditions which have improved over the last 12 months.

The Double-Dip You’ve Been Expecting

Over the last few months, we’ve certainly heard many people calling for a double-dip in home prices. The reality is the market is setting up for just that. How much will the decline be? Good question. In March I talked about Standard & Poor’s chief economist predicting 5-6% decline using the Case-Shiller Index. Since prices have increased (mostly due to the tax credit) since then, a 5-6% decline nationally (from January) still seems likely. That would but us around a 7-8% decline since January 2010′s numbers. Some say a 20% decline nationally is possible. The test is coming as seasonality diminishes leaving many homeowners looking to sell hoping for a better summer in 2011.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

Housing Market Insight – Week of August 23rd

1 ) CNBC did another piece on the “shadow” inventory and how these properties may effect home prices. Remember though, all real estate is local. While Maryland, where this post was written, may not have enough buyers, some areas of the country have so many buyers they are snatching up the inventory as soon as it is released.

2 ) There are almost as many real estate statistics as there are baseball stats. Some are good, some are useless. Mike Rohrig makes the case that Days On Market may be one of those useless statistics.

3 ) Google is so much more than a search engine these days. Sure they still dominate that market, but here are 9 Intelligent Ways Every REALTOR Should be Using Google, which has some great advice and I can assure you that almost no agent is using all 9 ideas.

4 ) Without a doubt, Bank of America has made the most progress in the last three months when it comes to short sales. They are now probably one of my favorite banks to work with. But if this is true, then they will become everyone’s favorite: Bank of America Short Sales New Program To Get Done Faster – Less Paperwork??

5 ) Another week, another government program to help help homeowners is introduced. HUD Short REFI-Will it Help NOVA Homeowners? I give it as much chance as HAMP and HAFA.

6 ) Should Realtors Disclose if They Haven’t Represented a Short Sale? That is an interesting question. Jim makes a great case in this post that they should, and that it is their responsibility.

7 ) Do real estate brands matter? This post makes a case for why Why Real Estate Brands Don’t Matter. I personally went from a large brand (with a balloon) to a local mom and pop shop with 20 agents and my listing business has gone through the roof. So I have to agree with the piece.

8 ) Some people love Twitter, some love Facebook and a few love both. But what is better for business?

9 ) If you are having a hard time selling your house, which is better: Price or Bonus?

10 ) The people have spoken. People’s Choice Best Real Estate Blog Contest Winners.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

The Ten Best in RE.net This Week: August 14, 2010 Edition

With an increasingly tough market and some experts calling for a possible ‘Double Dip‘, real estate investors (rehabbers/flippers/wholesalers) are competing with below-market priced distressed properties on the market.  And although as per a RealtyTrac report there was a slight decrease in foreclosure activity in May (a whooping 3%), there were still over 300,000 foreclosure filings for the 15th straight month. With more and more REO’s coming to the market, investors continue to struggle in finding potential buyers.

Well, according to a report by the National Association of Realtors, Foreign Investment in U.S. real estate, purchases of residential homes by foreigners (those with residency outside of the US, recently arrived immigrants and temporary visa holders) for the 12 month period ending April 2010 totaled a nice $64B, compared to $36B for the 12 month period ending April 2009. International investors have always been attracted to the U.S. as a real estate investment with our growth-oriented tax laws, a consumer-friendly judiciary, and strong private property rights.

Leading the way for the 3rd consecutive year were Canadians (God bless their hockey-loving hearts) accounting for 23% of those purchases ($14.7B). Mexico (10%) and the United Kingdom (9%) also had their share of foreign investment. And with a depreciating US dollar, it is likely that foreigners will continue to flock to the U.S. for real estate investments. Even though it was not part of my marketing plan, many of my clients are Canadian, most of which are cash buyers and now I will refocus my marketing strategy to include more exposure to foreigners. If you are not actively targeting foreign clients, perhaps it’s time to re-evaluate that. Comments are always welcomed and appreciated.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

Are You Marketing to Foreign Investors?

1 ) Is the real estate blog dead? Is it really time to think about abandoning the real estate blog and shift your attention to other things like email newsletters, video and Facebook? The Death of the Real Estate Blog tries to make that case.

2 ) There has been a push by Posterous lately to steal the thunder of Active Rain. Now ActiveRain limits number of posts exported to Posterous? This is proof of why you need to own your content!

3 ) The Goodwise Team has made a lot of news this year about being a The Real Estate Brokerage of the Future. Inman has even nominated them for innovation. This video shows you how they are doing what they are doing that makes them different.

4 ) Everyone is always looking for new ways to use tools like foursquare. Well Come Join The Academy Mortgage foursquare Swarm Party is a different way. This video is an interesting example of why some people still have a lot to learn.

5 ) Instead of finding agents by their listings will the future be finding agents by evaluations? AgentHarvest: The Start of Something?

6 ) In The Answer To the ‘Drive-By’ Real Estate Investors, Jeff walks you through the anatomy of a deal.

7 )  Kristal gives sellers four solid Mistakes Sellers Make When Trying to Sell Their Home

8 ) The Death Of The Real Estate Office – RIP – I work in a virtual brokerage, and it seems more and more agents do.

9 ) Did anyone notice the real estate news this week? It seemed to be all doom and gloom. In Case You Were Feeling Optimistic Today…

10 ) How hard is your listing agent working for you Mr Seller? is a great video on the subject of listing agents and what you get with them as a buyer. The question is does the seller know what they are getting.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

The Ten Best in RE.net This Week: July 11, 2010 Edition

The most recent week’s housing news offered critical data regarding Mortgage Purchase Applications, direction on mortgage rates, Pending Home Sales, and information you don’t want to miss about employment trends and  mortgage delinquencies.   Also the government approved the extension of the home-buyer tax credit closings.  Looking for direction in the housing market?  This crop of news paints the clearest picture yet on the next 90 days.

Let’s take a look;

Home-Buyer Credit Closing Date Extended

Congress approved an extension of the home-buyer credit final closing date from June 30^th to September 30^th helping an estimated 180,000 buyers.   Many of these individuals had purchased properties via short sale where the banks had yet to approve their purchase.   The home-buyer credit closing extension should prop declining home sale numbers up slightly in the meantime.

Outlook:  This will prop up existing home sales a bit more but unfortunately this train ride is just about over.  Extending the close date is putting off the inevitable, ugly existing home sale numbers.  I wonder how many of the 180,000 short sales will actually close.

Mortgage Rates Sink but Where are the Buyers?

Rates have hit a new all-time low (again) in the last week dropping to a mere 4.58%.  The problem is the people who need to refinance and put money into the economy are unable to refinance.  Mortgage lenders are reporting only a trickle of mortgage applications.  For people in position to buy, refinance, or invest, a rare interest rate window is open.  For now we can see demand is weak as the rates aren’t prompting people to purchase.

Outlook:   This latest interest rate dip is creating another buying opportunity within the larger downturn  This presents an enormous opportunity for investors looking to buy-and-hold.  Those that can, should.

Mortage Purchase Applications Fall (Again)

While this week refinance applications increased, mortgage purchase applications fell another 3.3% leaving the index 36% lower than it was a year ago.  This means mortgage applications are at a 13-year low.

Outlook:   Despite rates falling, no one is buying.  This is highly bearish.  Over the next few weeks if we see this trend continue, we could see housing prices drop more than previously discussed. Meanwhile the rest of the economy is showing signs of improvement.

May Pending Home Sales Collapse

Any new records being created right now aren’t much cause for celebration.  The new record plunge by the Pending Home Sales Index showed a 30% month-over-month (MOM) decline.  This drop was worse than economists predicted, leaving NAR Chief Economist Lawrence Yun saying, “Consumers are rational and they rushed to meet the tax credit eligibility deadline in April” (I guess economists aren’t rational as they missed this one).

Outlook:    This really wasn’t news.  Demand for housing was directly tied to the tax credit.  Until we see a significant, natural (non-government stimulated) improvement in this number, you can bet real estate won’t be entering a sustainable recovery.

The Bright Spots – Private Sector Payrolls and Fannie Mae Delinquencies

Private Sector Payrolls (non-governement/census) increased by 83,000, showing the private sector is starting to see a positive long-term outlook.   Another future indicator, Fannie-Mae Delinquencies, showed a slight decline as the index looks like it may have peaked in the last few months.

Outlook:    Finally we’re seeing a still fearful corporate America add jobs.  This is going to lead real estate by a long time, maybe even 2-3 years.  With jobs slowly comes improved confidence.  With confidence comes demand generation for real estate.

The next 3 months as an investor

Over the next 3 months, I urge caution on those whose strategy is primarily flipping properties.  The exception?  If you’re in a boomlet city or neighborhood within a city you can probably ignore this warning.  The data obviously shows there is little in the way of owner occupant buyers in the general market.   The trends are pointing to a slow and painful post-tax credit summer in the housing market.  In fact much of the coming data related to existing home sales is going to be predictably bad.  I’m focused now on the furthest leading indicators this week such as Private Sector Payroll increases and the decline in Fannie Mae Delinquencies.  These numbers are forecasting the signs of a more sustainable recovery.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

Housing Market Insight – July 5th Edition

1 ) Times are changing. Fannie and Freddie over the last few years have been lowering the time required before you can get your next mortgage after you have a foreclosure or short sale. Now Fannie Mae Changing Guidelines For Strategic Defaulters which will make it harder if they determine you are a strategic defaulter.

2 ) Why Do You Need Title Insurance? In Plain English helps to clarify what exactly Title insurance is and why you need it.

3 ) Mary Pope-Handy is becoming one of my favorite bloggers. She has some great advice for any home buyer, especially first-time home buyers. Her latest is Want to Buy a Home? Save, Save, Save as a Permanent Way of Life.

4 ) This may not be specifically real estate related, but it has been one of the most interesting stories on RE.net in a while. How often is it that a Redfin real estate agent arrested for being a Russian spy.

5 ) I try not to include a post from Jeff Brown every week because that would be just to easy, but he makes it hard with all the great no-nonsense material he puts up like this: These Days Simple Beats Sophisticated Hands Down.

6 ) On July 1st the new lender licensing laws went into effect. If Your Loan Originator Isn’t Licensed Today, They Need to Work for a Bank or Credit Union Tomorrow.

7 ) This year I have had two buyers use Kiddie Condo loans to make a purchase. It may be one of the best investments out there, especially for parents sending their kids to college. The savings I have seen over living on campus are just huge. For more, check out Kiddie Condos – does it make sense to invest now?

8 ) The best way to get someone to read a post is to title it Seven Reasons You Shouldn’t Read This Post… Times are changing, is your marketing changing with it?

9 ) Everyone was predicting two months ago that interest rates were going to skyrocket, but here they are at record lows. So you may ask yourself what are the Top Five Market Factors That Influence Mortgage Rates.

10 ) All Your (Data)Bases Belong to Us – This is interesting because you have to ask yourself is the future changing? Would agents rather work for an employer or remain independent? As always with Rob’s posts the comment section is gold.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

The Ten Best in RE.net This Week: July 3, 2010 Edition

I don’t watch much news these days, but even if you watch no news at all, you’re probably well aware of the fact that there are several parts of the country that have experienced unusually bad flooding.  Flooding can be caused by a number of factors, and for those who are in the hurricane states (like me in Florida), you know that hurricane season is now upon us and one of the things that come along with a risk of hurricanes is a risk of flooding.

About 10 days ago we closed on a rental property in Fort Lauderdale, Florida. I always get a quote for flood insurance for my properties because I know from personal experience that flooding surely happens outside of FEMA’s official “high risk” flood zones (in fact, according to the Floodsmart.gov nearly 25% of flood claims come from low to moderate risk areas). Imagine my surprise when I attempt to get a quote for flood insurance for the property and our insurance agent tells us that they are not allowed to write any flood policies because Congress let the National Flood Insurance Program (NFIP) lapse on May 31 and the senators are yet to come to an agreement to extend the program. New flood policies and renewal policies have come to a screeching halt.

This is important news for rehabbers and landlords who deal with properties in or near flood prone areas. For those who are rehabbers and looking to resell to retail buyers, you should be aware that closings are stalled all over the country because federally regulated lenders require buyers in flood zones to carry flood insurance. While there are private insurance companies that provide flood, those options are very limited and highly expensive. Be sure to know what your flood zone is and what restrictions exist with your buyers’ lenders.

For landlords with properties in or near flood zones, you may want to check the dates on your flood policies and check in with your insurance agent to see how you should handle payments at renewal time (since its possible that once Congress reauthorizes the flood program it can be retroactive). Also, if you’re in areas that are at risk for hurricanes, you may want to check those windstorm policies to see if you’re covered in the event of flooding that happens as a result of roof damage.

In the meantime investor friends, as Congress battles this out, let’s do our best to protect our assets and stay dry!

Photo: NOAA National Weather Service

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

Flood Insurance May be a Concern for Rehabbers and Landlords

1 ) As an agent, what do you need to tell a client about a property they are interested in? Full disclosure walks you through it. The easy code to live by is just always be honest and you won’t get into trouble.

2 ) So many buyers ask us to let them know when we see a smoking deal. My first question is what do you mean by a smoking deal? Everyone’s opinion is different. If You See a Smoking Deal … walks you through and shows you if you say you want a smoking deal you better be ready to move when one comes up.

3 ) Last week everyone was talking about the extension for the closing deadline on the first time home buyer tax credit. One week later, we see the Tax Credit Paperwork Extension Denied. Something may still come up, but for now it is dead.

4 ) So is now a good time to invest? Interest rates are low, some lenders are looking to give money away again, lots of properties are on the market; Is it really The Perfect Positive Storm For Real Estate Investors?

5 ) Should I get a home inspection? You will probably never hear any good agent say no to that question. But once you decide to do one, there are Questions To Ask Before And During Your Home Inspection.

6 ) Home Sales Negotiation 101 is one of the most through posts you will ever read on negotiating a transaction.

7 ) The home buyer tax credit by most accounts was a big success. I know I had many people take advantage of it, but when you look and see that the Homebuyer tax credit audit shows fraud in the millions of dollars, it blows your mind.

8 ) Do you know your FICO score? If you are not a cash and carry buyer — most home buyers are not — then you should know it and also know 7 Tips for Improving Your Credit.

9 ) Friday’s Rates – The Lowest Rates I’ve Ever Posted – tells you everything you need to know about today’s rates. Just take a look at those numbers!

10 ) This may be one of the most overblown numbers of the year. New Homes Sales Drop to Lowest Levels. Ok so new home sales are down 33%. Not many people are buying new homes right now and why would you when you can buy an existing home cheaper than you can build a home. The only reason people could even justify the new home purchase was through the tax credit.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

The Ten Best in RE.net This Week: June 26, 2010 Edition

1 ) If you are in real estate you have probably done some unique things to try to get some business. I bet you have not seen many more creative ways than this: Desperate or Innovative? Realtor Selling on a Street Corner. If it doesn’t work out he at least will have street begging to fall back on.

2 ) In tough times, more and more homebuyers are turning to FHA loans to purchase their home. The Pros and Cons of FHA Financing takes a look at the good and the bad.

3 ) NAR recently came up with some game changing ideas it wants to implement. But as Michael McClure points out, they may be good ideas but not game changers. Then he throws out some game changing ideas for our industry to consider.

4 ) Should you buy or should you rent? A lot of that is going to depend on the market you live in. Here is a list of Trulia’s top ten cities to buy versus rent and rent versus buy.

5 ) What real estate agent does not want a strong referral business? To have that you need to offer great service and have a great sphere on which to draw from. Darin Persinger shows you Why Your Sphere Of Influence Real Estate Business Sucks. If you use a real estate coach or training system you may want to make sure you read this one.

6 ) Variable real estate pricing, as in seller will consider any offer between $500,000-$550,000. Why? What Is Variable Real Estate Pricing? shows how it could be a tool for a seller who is being unrealistic.

7 ) NAR asks government to be flexible on homebuyer tax credit closing date deadline to help with long closing times such as with short sales.

8 ) So you are a high tech real estate agent. Good for you, but what does that mean to me as a consumer? Rob Hahn asks that question and delivers a great conversation in the comments section of What Does It Matter To Me If You’re Tech-Savvy?

9 ) There are millions of sellers out there looking at their situation and trying to decide what to do. Making the Tough Decision to Walk Away From Your House? Some Tips… is a video that takes a good look at some situations and offers some good advice without telling you what to do.

10 ) Fannie Mae in the past had the loan originator pull a credit report on the buyer when they filled out an application. Fannie Mae adds Speed Bump Prior to Funding Your Mortgage by making the lender pull the report again before closing. Make sure now more than ever that you are not opening new credit lines once you start the home buying process.

This Article is Copyright © 2004-2011 BiggerPockets, Inc. All Rights Reserved.

The Ten Best in RE.net This Week: June 5, 2010 Edition