In this video from REALTOR® Magazine, we gain insight about how the National Association of Realtor's (NAR) new neighborhood stabilization project works.

The program is targeted at helping communities whose foreclosures could cause neighborhoods to become barren. The video shows two of the approximately two dozen neighborhoods at risk in Chicago, courtesy of Mabel Guzman, ABR, president-elect of the Chicago Association of REALTORS®.

Chicago's association has been aggressive in making sure it got its share of the money for the program and offers hope for all communities facing foreclosure issues. NAR also hopes others can find success through the program.

View the original blog post and commentary by Robert Freedman, senior editor of REALTOR® Magazine.

Posted in Real Estate Market Conditions, National Association Of Realtors, Foreclosure, Real Estate Industry, National News

Do you know how much your real estate is worth in this market? How do you know it's worth what you think it is?

There are many free opportunities to get a real handle on how much your real estate is worth, as many brokers and agents will do a free evaluation. Other tactics to figure out worth include:

• Solds. Use information about the solds that surround your property and those similar to yours to find your value.
• Expireds. These are listings that have not sold within the usual 30- to 90-day period, sometimes due to overpricing. They can also give you insight about what works and what doesn't work for marketing your property.
• Currents. How does your property compare to those currently on the market?
• Value Boosters. Renovations, recent repairs and other improvements to a property can boost its value.

Read more at Realty Times.

photo credit: TheTruthAbout...

Posted in Real Estate Investing, Real Estate Market Conditions, Real Estate Industry

The Mortgage Bankers Association (MBA) sees a light at the end of the tunnel, citing an ease in foreclosure rates with the fourth quarter of 2009 seeing a smaller percentage of delinquent mortgages and a drop in those entering foreclosure.

In a written statement, their chief economist, Jay Brinkmann, stated: "We are likely seeing the beginning of the end of the unprecedented wave of mortgage delinquencies and foreclosures that started with the subprime defaults in early 2007."

The MBA survey took a look at 44.4 million loans on one- to four-unit residential properties, or about 85% of all first-lien residential mortgage loans that are outstanding in the country. The good news is fewer problem loans are entering delinquency.

Read more about the survey and its findings on RISMedia.

Posted in Mortgage, Real Estate Market Conditions, Foreclosure, Real Estate Industry, National News

There is a lot of talk, speculation and data concerning the future of the real estate market, so if you're watching it closely, where are the best places to keep your ear to the ground?

Kenneth Harney at Realty Times discusses the findings of the Federal Reserve Beige Book report. The report has found that 9 out of 12 regional member banks are showing positive economic signs, and these regional banks are showing signs of consumer spending and manufacturing output increasing despite the bad blizzardy weather as of late.

In addition to these positive-trending findings and more by the Feds, there is some bleak news for the housing market, as the weather has put a damper on buying. However, there is a silver lining to the cloud as National Association of Realtors' chief economist Lawrence Yun points to a 12 percent increase in pending home sales in January, compared to last year's.

Read more at Realty Times.

Posted in Real Estate Market Conditions, National Association Of Realtors, Real Estate Industry, National News

The National Association of Realtors (NAR) and REALTOR® Magazine are offering a "Distressed Sales and the Home Buyer Tax Credit" webinar on Thursday, March 25 at 3 p.m. EST (1 p.m. MST). The webinar is an hour in length with the final 15 minutes to answer participant questions sent via the chat function during the webinar.

Households in markets with high numbers of distressed sales face tough challenges using the home buyer tax credit before it expires. This webinar will look at ideas for addressing some of the most common hurdles to closing short sales and REO transactions in the remaining months before the tax credit expires.

Presenters:
Scott Thompson, vice president, ServiceLink
Julie Jalone, MagnumOne Realty, Roseville, Calif.

Hosts:
Stacey Moncrieff, editor in chief, REALTOR® Magazine
Robert Freedman, senior editor, REALTOR® Magazine

Click here for more information and to register.

Posted in Real Estate Market Conditions, National Association Of Realtors, Real Estate Industry, Real Estate Industry Events