August 2010

Roost exits the third party portal business

by THE WAV GROUP on August 31, 2010

tree house

Roost is officially dropping their web portal business, and its a shame. There were only three companies who offered a national portal for property search that used IDX listings as its foundation: REALTOR.com, cyberhomes.com, and Roost.com. As you may know, Cyberhomes transferred many of their company assets to RPR last year and announced that they were exiting the portal business. They announced the sale of the domain name to Lisitngbook this year. Guess the last one standing is REALTOR.com. Here is the roost announcement   We are reaching out to inform you of some changes that will take place at Roost.com. Starting on September 1st, Roost will discontinue its home search business at Roost.com. This change will mean that any alerts you have set will stop. Roosts new products and services will focus on providing tools for real estate professionals to build business using social networks like Facebook. You can see our new social marketing tools offering here. We have enjoyed providing you with a home search, and we hope the experience has made your buying process easier. We apologize for any inconvenience this announcement might have caused and wish you success in your home search.

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NEWS RELEASE U.S. Broker and Agent Forward Looking Confidence Hits New Low in August According to Point2 Technologies National Real Estate Confidence Index (RECI) Survey 7.23% drop in sentiment pushes Index below the median level for first time Indicates possible further homes sales downside ahead Saskatoon, SK and Vancouver, BC August 25, 2010 Real estate professionals surveyed for Point2 Technologies (“Point2″) monthly national Real Estate Confidence Index (“RECI”) continued to exhibit concern over the future of the market, in August, and sent the Index below the median of 5.0 on the RECI scale of 1 10 (1 being “Bad” and 10 being “Good”), for the first time since Point2 launched the forward looking sentiment barometer in June 2009. The RECI averaged 4.87 in the August survey on the 1 10 scale, a drop of 7.23 percent versus the July reading, and a new record low. Year Over Year (YOY), the drop represents a 17.18 percent decline in confidence. As a forward looking real estate market barometer, a negative RECI score indicates real estate brokers and agents currently expect further downside in home sales. The prior RECI low was recorded last month, when the Index reading came in at 5.24 out of 10, a drop of 8.85 percent versus June. On a seasonally adjusted basis, Current Market Conditions, one of the RECIs three key variable components, dropped to 4.35 in August, on the 1 10 scale, or 6.85 percent below the July reading. The 3 6 month Short Term Optimism/Pessimism outlook gauge also ended below the 5.0 median for the first time, to 4.66 on the 1 10 scale, 8.09 percentage points versus last month. Long Term Optimism/Pessimism ( 12 18 months), the RECIs third key component, remained in relatively stronger territory above the 5.0 median. However, the variable also recorded a new low, sliding to 5.60 (-6.67%) on the 1 10 scale. The average of all three variables makes up the RECI score for the month. Concern over increase in real estate inventory was played back by RECI survey participants virtually in every state in the US and was a key issue blamed for continued downward pressure on the market along with the lack of buyer incentives, a bleak employment outlook and lending difficulties. Real estate professionals in a number of states however remained optimistic. Some survey respondents in California (San Diego), Hawaii, Michigan, North Carolina and Utah felt that […]

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NAR just released its July 31, 2010 National Association of REALTORS® Monthly Membership Report. Below are some interesting findings: NAR reports that the total number of REALTORS® in America at the end of July, 2009 was 1,112,645. At the end of July 2010, NAR reported the number of REALTORS® in America was down 3.85%, making the current total 1,088,703. In this same national report, it is not surprising given the economy that every state’s total number of REALTORS® has dropped several percentage points. Currently, the top 10 states with the highest number of REALTORS® include: 1.) California- a. Last July California had 164,791 REALTORS®, b. Number dropped by 1.53% c. Current total number of REALTORS® is 162,266. 2.) Florida- a. Last July Florida had 113,799 REALTORS®, b. Number dropped by 1.75% c. Current total number of REALTORS® is 111,809. 3.) Texas- a. Last July Texas had 80,119 REALTORS®, b. Number dropped by 1.22% c. Current total number of REALTORS® is 79,143. 4.) New York- a. Last July New York had 56,245 REALTORS®, b. Number dropped by 4.5% c. Current total number of REALTORS® is 53,715. 5.) New Jersey- a. Last July New Jersey had 48,434 REALTORS®, b. Number dropped by 2.42% c. Current total number of REALTORS® is 47,260. 6.) Illinois- a. Last July, Illinois had 47,383 REALTORS®, b. Number dropped by 5.10% c. Current total number of REALTORS® is 44,965. 7.) Arizona- a. Last July, Arizona had 43,174 REALTORS®, b. Number dropped by 4.12% c. Current total number of REALTORS® is 41,394. 8.) North Carolina- a. Last July, North Carolina had 36,890 REALTORS®, b. Number dropped by 6.05% c. Current total number of REALTORS® is 34,658. 9.) Virginia- a. Last July Virginia had 33,105 REALTORS®, b. Number dropped by 5.83% c. Current total number of REALTORS® is 31,174. 10.) Pennsylvania- a. Last July Pennsylvania had 30,573 REALTORS®, b. Number dropped by 4.31% c. Current total number of REALTORS® is 29,256. NAR also reported the top most populous Associations in the country. That’s list includes: Miami Association of Realtors®* (23,493 members) Houston Association of Realtors® (22,992) Long Island Board of Realtors® (21,888) Chicago Association of Realtors® (12,547) Metrotex Association of Realtors® (Dallas, Texas – 12,235) Greater Las Vegas Association of Realtors® (12,229) Mainstreet Organization of Realtors® (Downers Grove, Ill. – 10,982) Pacific West Association of Realtors® (Anaheim, Calif. – 10,749) San Diego Association of Realtors® (10,563) Orange County Association of […]

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CoreLogic launches anti-fraud product

by THE WAV GROUP on August 25, 2010

short-sale-fraud-example

Wednesday, August 25th, 2010, 4:58 pm   US housing data aggregator CoreLogic is now offering a short sale fraud detection tool that monitors the property even after the sale is completed. Nearly two weeks ago, CoreLogic announced that short sales has cost lenders nearly 300 Million in 2010. “Today lenders, to a higher point than ever before, are dealing with foreclosure and dealing with borrowers,” said VP of Fraud Solutions at CoreLogic, Frank McKenna, “and with an estimated 400,000 short sales to be negotiated with real estate agents, there needed to be a way to make sure all offers on a property are disclosed.” The new service allows lenders to receive alerts on potentially risky lending and even closed short sale transactions to minimize unnecessary losses related to fraud and property underpricing, an example of which is in the below graph: McKenna said the risk of this flopping fraud – giving a low ball offer, closing, then selling again at a higher price – is becoming so pervasive that some lenders are considering putting in place requirements to prevent property resales for 90 days after closing. The new CoreLogic Short Sale Monitoring Solution alerts lenders whenever a higher bid is made, but not necessarily disclosed by an agent. Once the short sale is closed, the monitor still keeps tabs to report any bids for resale. Freddie Mac reported that it has seen short payoff volume grow more than 1,000 percent, and that the upward trend in volume leaves the market ripe for incidences of short sale payoff fraud.

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CMLS Chicago information

by THE WAV GROUP on August 25, 2010

The annual CMLS (Council of MLS) conference is coming up soon!  RETechnology and WAV Group will be there.  Don’t miss the biggest MLS conference ever (registered attendance is the highest in history already). Keep up on the very latest information regarding the upcoming CMLS 2010 Conference Insight Into The Future in Chicago, Illinois, September 29 through October 1. –          Like us on Facebook by finding the “CMLS 2010 Chicago: Insight Into The Future” page. –          Follow us on Twitter by finding CMLSConference. –          Join our group on LinkedIn  CMLS 2010 Chicago: Insight Into The Future. Connect up with CMLS 2010 now and you will continue to receive breaking news up through and including the conference sessions themselves.  Let other MLS colleagues know about this opportunity! See you at CMLS 2010 in Chicago! To visit the CMLS 2010 website, please click here.

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How To Set-Up A Facebook Fan Page

by THE WAV GROUP on August 18, 2010

Due to a high level of interest in learning more about Facebook Fan Pages, we have researched and provided the following step-by-step approach to setting up a Facebook Fan Page. We hope you enjoy! Without a doubt it can be tricky to locate the “Add a Facebook Page.” To jump straight to this page, and avoid the multi-step navigation process outlined below, here is the link: http://www.facebook.com/pages/create.php If you cannot access the “Create a Page” link above, follow the below steps. 1.) Go to the home page of your personal Facebook page, and click the Account button 2.) Click “Account” and select “Help Center.” 3.) Once at the Help Center page, click “Pages for Business.” See below. 4.) Underneath the title “Facebook Pages,” click “creating and administering your Page.” 5.) Once here, you will see a number of questions under the heading of “Creating a Page.” 6.) Click the link for “here.” 7.) This will take you to the “Create a Page.” Once here, choose to create a page for “local business.” Select “Real Estate” or another appropriate business category. Name your page, agree you are the official representative of your business page and click the blue button at the bottom called “Create Official Page.” Now the fun begins.  With this blank template, you can now begin to customize your Facebook Fan Page. The template Facebook Fan page above provides easy links to: 1.)    Add an image- You can upload an image or take a photo with your webcam.  We strongly recommend you use a high definition, professional image, as the quality of your image defines your professionalism. 2.)    Provide some basic information to tell your story and let your customers know more about you. 3.)    Post status updates- Frequent posting is invaluable to generating traffic to your fan page and building a following.  Tip: If you write a blog, update your Facebook Fan Page with the title and link to each blog post.  This is a great way to keep content fresh on your Fan Page. 4.)    Promote your Fan Page on your website- Once you’ve built your fan page, that’s just the beginning.  You need to market your Fan Page.  Have your friends, family and colleagues “Like” you, and begin to gather a following.  The larger your fan base, the more influential and established you will look to the general public. 5.)    Set up your mobile phone- This makes […]

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Listing Book LLC to Acquire Cyberhomes.com

by THE WAV GROUP on August 3, 2010

Press Release Listingbook LLC Enters into a Definitive Agreement with LPS Real Estate Group to Acquire Cyberhomes.com Listingbook will continue to operate the website as a ‘best-in-class online real estate destination powered by LPS premier data aggregation services   JACKSONVILLE, Fla. and GREENSBORO, N.C. Aug. 3, 2010 Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, announced today that its subsidiary, LPS Real Estate Group, Inc., and Listingbook LLC, a leading provider of broker and agent client servicing applications, have signed an agreement for Listingbook to take over the operations of Cyberhomes.com, LPS leading online real estate valuation and listing portal. As part of this agreement, LPS will continue to support the Cyberhomes.com platform by providing public records data, automated valuation models (AVMs) and residential property listing data aggregation, as well as a national advertising sales platform. “After an extensive search to identify a partner that shared our vision for operating a leading consumer portal that represents and benefits organized real estate, we are pleased to have found a trusted and respected leader in Listingbook to take over the operations of Cyberhomes.com,” said Jay Gaskill, president, LPS Real Estate Group.  “We remain focused on providing data, analytical tools, data aggregation and technology to power leading real estate websites throughout the industry.” “Listingbooks value proposition of optimizing agents productivity, increasing their clients satisfaction levels, and ultimately helping them generate more profit is exponentially progressed with Cyberhomes.com,” said Todd John, chief operating officer of Listingbook. “This acquisition enables us to generate many more leads for agents and help turn these leads into lifelong relationships with Listingbooks premiere client management system all while creating significant incremental national advertising opportunities.  We are thrilled to be partnering with LPS and their team of professionals on this initiative and embrace the opportunity to optimize Cyberhomes.com for both the agent and consumer.” About Lender Processing Services LPS is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop®) portfolio retention and default, augmented by the companys award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by volume are serviced using LPS Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and […]

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CORELOGIC AND HOUSTON ASSOCIATION OF REALTORS® EXTEND DATA LICENSING AGREEMENT SANTA ANA, Calif., Aug. 2, 2010 CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced that it has renewed and expanded its longstanding data licensing agreement with the Houston Association of REALTORS® (HAR). The agreement extends the permitted uses of HARs listing data beyond automated valuation models (AVMs) to other risk management solutions.  Under the agreement, HAR will also join the CoreLogic MarketLinx Data Co-op, which facilitates the sharing of real estate listings with other multiple listing services (MLSs) around the country, and will provide its members with CoreLogic MLS-enhanced AVMs through the MarketLinx TEMPO MLS system. “We have been licensing data to CoreLogic since 1999 and it has been a very beneficial relationship,” said Margie Dorrance, chair of the board of the Houston Association of REALTORS®.  “We are pleased to extend our partnership with CoreLogic and are confident in their ability to represent our interests.” “We are privileged to serve Houston and to be entrusted with this responsibility,” said Ben Graboske, chief executive officer of CoreLogic MarketLinx.  “Tremendous opportunities exist for MLSs that want to derive more value from their listing data.  As the worlds largest MLS technology provider, we have a vested interest in helping MLSs succeed and the resources to keep their data safe.  The trust that our customers place in us is one of our most important assets.” About CoreLogic CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations.  Formerly, the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information visit www.corelogic.com. […]

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