Friday facts April 8, 2011

FRIDAY FACTS April 8, 2011 Inman News reports that Redfin says VOW’s can disclose agent comments under the DOJ-NAR settlement. Registered users of Redfin’s VOW can now see what the brokerage’s agents thought of listings they’ve toured. Those comments will automatically be emailed to the listing agent. From RealTrends Blog – The New Normal 5 Facts You Must Know by Donna Stott 1. Homeownership rates have dropped to 1988 levels – around 66%. 2. Home prices are falling again; the housing double dip is here. 3. From the peak in 2006, U.S. homes are expected to lose close to 36% in value nationwide. Compare this to the great depression when prices were down 25.9%. Since June 2006, we’re down 26% 4. In 2010 repossessed homes reached the 1 million mark. 5. 72% of major U.S. markets had increased foreclosures in 2010 over 2009. According to an article in RIS Media, real estate agents are having the same conversation with banks about their REO’s that they have with any seller. Sprucing up or repairing a foreclosure makes it sell faster and for more money. It also makes the home more financeable. From an article in RISMedia, “Body language is a mixture of movement, posture, and tone of voice … Top salespeople and the most successful real estate agents recognize the importance of non-verbal communication in the selling process and have learned to listen with their eyes. Inman News posted the top real estate site rankings for February from the web metrics firm, Experian Hitwise: 1. Yahoo 2. Realtor.com 3. Zillow 4. Front Door 5. Trulia