Shelli Dore’s Real Estate Blog

Archive for December 2009

Denver was the best year-over-year performer with only 0.1% decline in the latest Standard & Poor’s S&P/Case-Shiller Home Price Indices released today. The annual rate of decline of the 10-City and 20-City Composites improved compared to last month’s reading. This marks approximately nine months of improved readings in these statistics, beginning in early 2009. Sales of existing homes – those included in the S&P/Case-Shiller Home Price Indices – have been very strong in recent months, working off the inventories of houses for sale.  Read More

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Shelli Dore

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News Release
FOR IMMEDIATE RELEASE
Amber Presley
512/439-8708
amber.presley@kw.com
News Release

Keller Williams Realty Ranked as Top Real Estate Franchise by Industry Leader and Entrepreneur Magazine
 
AUSTIN, TEXAS (December 21, 2009) — Keller Williams Realty joined the ranks of the top franchises in the world last week, when the company was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine. During the same week, the company was also voted the Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey for the Swanepoel TRENDS Report.
 
 “The Swanepoel TRENDS Report is a respected source for the real estate industry and beyond, as is Entrepreneur magazine, and we are excited to see our agents honored in this way for all of their hard work,” said Mark Willis, CEO, Keller Williams Realty. “We certainly wouldn’t have been included on either list without the dedication and resolve of our agents.”  
 
According to the ranking in Entrepreneur magazine, the most important criteria to determine the top franchises included financial strength and stability, as well as growth rate and size of the franchise system. The magazine also looked at the number of years the company has been in business and the length of time it’s been franchising, in addition to start-up costs and financial data. Additionally, Keller Williams Realty made an impressive showing on the overall list, placing higher than any other real estate franchise.
 
The Swanepoel TRENDS Report is published by Stefan Swanepoel, a real estate industry speaker and insider. The survey was crafted to determine the Most Recognizable Brand for Real Estate Franchises for his report out in February 2010. The survey included votes cast by 11,000 plus real estate agents, who cast 390,000 votes to select the top 10.
 
Earlier in the year,Keller Williams Realty also received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms from J.D. Power and Associates for the second year in a row.
 
“We are extremely proud that our associates and company are being recognized for our strength and stability during this time in our industry,” said Mary Tennant, president and COO, Keller Williams Realty. “We attribute our success to being in business with phenomenal people and to our core business models, which have allowed our franchises to thrive during any market.”
 
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About Keller Williams Realty Inc.:
Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 679 offices and 73,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).
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The Associated Press
December 18, 2009

WASHINGTON — Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary break for borrowers during the holiday season.

The suspension, announced Thursday by the government-controlled companies, runs from Saturday through Jan. 3. “No family should have to face the prospect of being evicted during the holiday season,” Michael Williams, Fannie Mae’s chief executive, said in a statement.

Earlier Thursday, Citigroup Inc. announced a 30-day suspension of foreclosures and evictions, affecting about 4,000 borrowers. Fannie and Freddie did not estimate how many homeowners would get this grace period.

Last winter, most major lenders suspended foreclosures while the Obama administration developed its $75 billion loan modification program. But foreclosures picked up again after those suspensions lifted.

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Shelli Dore

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The Wall Street Journal
By AMY HOAK
November 15, 2009

House hunting usually slows down this time of year, as people put their searches on hold during the holidays.

This winter could be different, however, thanks to the extension — and expansion — of the first-time home-buyer tax credit.

“We’re going to see far more interest in the fourth quarter than we generally do because of the tax credit,” says Heather Fernandez, vice president of Trulia.com, a real-estate search engine. Traffic surged on the site on Nov. 5, the day Congress approved the credit extension, she says.

The new law extends the tax credit for first-time home buyers and opens it up to some existing homeowners as well: The credit is now up to $8,000 for first-time buyers and up to $6,500 for repeat buyers.

All buyers must have a binding contract on a house in place on or before April 30. The purchase must be for a principal residence and must close on or before June 30.

To be considered a first-time home buyer…..Continue

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In these metro areas, both modest incomes and stable real estate markets are improving the outlook for borrowers.

To find the cities that are recovering best from the foreclosure crisis, we used data from LPS to determine how many of all loans were foreclosed in each of America’s 100 largest Metropolitan Statistical Areas–census-defined regions used by the government to collect statistics. The fewer foreclosures, the higher the city ranked.

Denver is number 13 on the list!

Click the link below to read the full story:
http://www.forbes.com/2009/12/10/recovering-cities-foreclosures-lifestyle-real-estate-housing-crisis-chart.html?partner=alerts

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Denver Business Journal
Compiled by Paula Moore

December 2, 2009 – Re/Max International Inc. of Denver expects “short sales” — sales of homes for less than the amount owed on the mortgage — to increase nationwide because of the federal government’s newly released guidelines for such sales.

“Until now, the short sale process has been cumbersome for all involved, and took upwards of eight to 10 months for a transaction to close. … But with new guidelines issued Monday…..Continue

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Shelli Dore

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Even before the government put pressure on them to embrace short sales, more banks were starting to take their lumps, do the short-sale deals and move on.

Three years into the housing meltdown, short sales have tripled to 40,000 in the first six months of 2009, compared to the same time period a year ago, according to data from the Office of Thrift Supervision and the Office of the Comptroller of the Currency.

Wells Fargo, Bank of America Corp., and JPMorgan Chase & Co. this year have hired and trained more staff to handle short sales and also developed software for expediting them.

“It’s really finally dawning on banks that they’re better off with a short sale,” said Richard Green, director of the Lusk Center for Real Estate at the University of Southern California in Los Angeles. “I think banks were in denial.”

Source: Bloomberg, John Gittelsohn and Margaret Collins (12/4/2009)

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Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.


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