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Dennis Norman In August 2009 there was a final judgment entered in the case United States of America vs Consolidated Multiple Listing Service, Inc. which stated “Consolidated (CMLS) can no longer deter low-cost or innovative brokers from competing in Columbia by charging a premium price for membership.” At the time CMLS was apparently charging an initiation [...] The Justice Department announced it has filed a lawsuit today in federal court for the Eastern District of Missouri alleging a pattern or practice of violations of the Fair Housing Act by the owner and managers of Forum Manor Apartments, a federally-subsidized apartment complex, for refusing to rent to African-Americans and males, refusing to allow [...] Freddie Mac announced today that it’s conforming loan limits for 2010 are unchanged from those in effect for 2009 for all areas of the United States. The loan limits set the maximum original loan amounts allowed on single-family conventional mortgages Freddie Mac can purchase except in high cost areas. The loan limits for first mortgages are: $417,000 [...] Dennis Norman The National Association of REALTORS made a big step last week toward reaching their goal of establishing a national data base of very parcel of real property in the U.S. by acquiring technology from LPS Real Estate Group. NAR has acquisition includes data and secured data aggregation services which NAR will use to develop [...] Dennis Norman The National Association of REALTORS(R) has just come out with a new widget for it’s members that allows them to easily post their listings on their Facebook page. By: Dennis Norman OK, I already know I’m going to aggravate a few agents out there, but it’s really not my intention. I’m going to start out by saying that agents that list REO deals are victim’s of the system they are forced to operate in. Whew, hopefully my CYA is done.. Having said that, at the end [...] Dennis Norman By: Dennis Norman According to the 2009 National Association of Realtors® Commercial Member Profile Realtors® specializing in commercial real estate experienced a slowdown in sales transaction volume in 2008, but also reported an increase in commercial leasing volume. Dennis Norman By: Dennis Norman The National Association of REALTORS®is calling upon its 1.2 million members to urge Congress to extend the home-buyer tax credit into next year.
According to NAR the $8,000 first-time home-buyer tax credit has brought 1.2 million new buyers into the market – 350,000 of whom would not have purchased a home without [...] Dennis Nman By: Dennis Norman For anyone in the real estate industry the word “virtual” has become a familiar term. VOW’s, or Virtual Office Websites, were in the headlines for a couple of years while the National Association of REALTORS® dueled with the Department of Justice over the REALTORS® treatment of VOW’s. Personally I’m a fan of [...] Dennis Norman On May 2, 2008 the United States of America filed a complaint against Consolidated Multiple Listing Service, Inc. (“CMLS”), the MLS provider in the Columbia, South Carolina area, alleging CMLS had adopted rules and practices that exclude competitors from and restrain competition in the Columbia, South Carolina, real estate brokerage market in violation [...]
Charles Hugh Smith, Of Two Minds By: Charles Hugh Smith: In February 2007 I suggested a 4% mortgage delinquency rate could trigger a decline in the entire housing market. Since that proved prescient, we should revisit the analytic tool behind that call: the Pareto Principle. There is a whiff of euphoria in the housing market, a [...] Dennis Norman By: Dennis Norman This morning the U.S. Department of Commerce released a report showing the sale of New Homes in July were at a seasonally adjusted annual rate of 433,000, a 9.6 percent increase from June and makes the fourth consecutive month of new home sales increases. The Northeast region saw the biggest monthly increase [...] By: Dennis Norman There just seems to be no end in site for the sickening numbers of foreclosures we are seeing take place in the housing market. While, it is hard to argue that foreclosures have helped agents by providing a steady supply of homes that need to be sold, regardless of the price, I think [...] Charles McMillan 2009 President, NAR By: Dennis Norman In response to a letter from National Association of REALTORS(R) 2009 President, Charles McMillan requesting that real estate agents be eligible for SBA loans or clarification that agents are already eligible, the U.S. Small Business Administration said that real estate agents and brokers are eligible for SBA guaranteed financial assistance. The [...] Charles McMillan 2009 President, NAR By: Dennis Norman National Association of REALTORS(R) 2009 President, Charles McMillan wrote to the administrator of the U.S. Small Business Administration requesting that real estate agents be eligible for SBA loans. According to McMillan some agents, attempting to take advantage of recent modifications to SBA loan programs under the American Recovery and Reinvestment [...] |
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