"Study: Paperless 'Comes of Age'"
Inman News (10/06/09)

A study of more than 1,700 real estate brokers and agents from 22 Multiple Listing Services (MLSs) by WAV Group Inc. indicates that more residential property professionals are using automated transaction systems -- or at least modules of these systems that allow the parties involved to access, share and manage data electronically. The survey reveals that 87 percent of agents and brokers use electronic forms, 81 percent use document management applications, 77 percent use Internet fax, 71 percent use transaction task and activity management software and 55 percent have access to digital signatures. Many of these modules are being rolled out in phases, though many agents and brokers still are uncertain about the benefits of going paperless and consider adoption of full transaction processing difficult. The WAV Group study concludes that MLSs would be the best source of transaction management services, and the ideal system would involve integration with the MLS and permit auto-populating from listing data and public records.
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"Applications Make Twitter a More Powerful Tool"
San Francisco Chronicle (10/05/09) Lee, Ellen

Scores of applications have been rolled out to help Twitter's more than 20 million users maximize the potential of the social networking tool. With applications such as TweetDeck, Brizzly and TuneIn, users can organize and better manage incoming tweets. Others, like Twitpic, allow users to share photos on Twitter. Business users also have access to numerous applications that help them track mentions of the company name, measure statistics and schedule tweets. One such application, CoTweet, makes it possible for more than one user to access the company's Twitter account and allows users to delegate tasks. "All of these things, together, have made me a more powerful user," says Jill Gilbert of Gilbert Guide, who uses various Twitter applications to market her online resource for seniors and caregivers.
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"Perk Up a Sale After a Life in One House"
Washington Times (10/02/09) Lerner, Michele

Property agents with the National Association of REALTORS' Seniors Real Estate Specialist designation, along with senior moving services, can be a big help to elderly homeowners who are looking to relocate after decades in their family home. In addition to helping them declutter to prepare the residence for sale, determining which items should be given away and which should be taken to the new home, and helping them unpack their belongings after the move, REALTORS and senior moving services can help older owners make cosmetic improvements that will better position their homes for sale. They recommend removing carpets to expose hardwood floors and replacing kitchen and bath fixtures. Also suggested are installing new refrigerators and repainting. When undertaking improvements, REALTORS might encounter seniors who are reluctant to make changes after enjoying the original home for so many years or who might not be able to afford the upgrades on a fixed budget. Additionally, seniors often worry that they do not have enough equity in their homes to afford to move. While those who have stayed put for two decades or more are probably fine, those with limited equity could consider downsizing. REALTORS also note that seniors could opt to take out a reverse mortgage on their new home, which would eliminate mortgage payments. However, they would be taking a chance that there would not be enough equity to pay off the loan when they move or die.
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"An Hour a Day -- Keeps Customers Coming Your Way!"
Realty Times (10/01/09) Escobar, Julie

Citing a National Association of REALTORS survey indicating that over 80 percent of sellers do not list their home with the agent who helped them to buy it, experts say residential property professionals would be wise to dedicate at least one hour per day to keeping in touch with clients. Some practitioners devote an hour in the morning three days a week and an hour in the evening two days per week to prospecting, committing to that time as much as they would to a closing or listing appointment. Social media has taken prospecting to a new level, making it possible for agents to provide information and personally connect with clients before offering their services. "To be truly effective you have to successfully balance business information with personal touches, photographs, upcoming events, career milestones, etc." says Better Homes and Gardens CEO Sherry Chris. "If the only thing you have on your Facebook or MySpace is your listings, you're missing the boat." Some agents make a point to connect with 50 clients per day, which involves talking to a handful of clients on the phone, leaving phone messages for others and sending messages to many more via social networking sites. Regardless of the strategy they use, agents must recognize the importance of making friends first and selling homes later, spending 80 percent of their time on prospecting and continuing to make personal contact with clients.
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"How Real Estate Agents Can Get Rich"
RISMedia (09/30/09) Minton, Rob

Real estate agents often work up to 60 hours a week, put in hours on weekends and holidays and forego vacations to close a deal. However, most do not become wealthy off their commissions, as they put the money toward household and business expenses. To get rich as a real estate agent, real estate entrepreneur and author Rob Minton recommends that they calculate their average monthly incomes by estimating the number of homes sold each month and multiplying it by their average net commission. Once they calculate their average monthly income, agents should plan to put 10 percent of that amount into a savings account through automatic transfer and make a commitment not to touch the money. While saving 10 percent of their monthly incomes will help build wealth, agents also would be wise to work on building a business that eventually can be sold at top dollar.
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"Virtual Staging Brings Empty Homes to Life"
Realtor (10/09) Vol. 42, No. 9, P. 14; Tarbox, Katherine

Given that it can cost anywhere from a few hundred dollars to more than $1,000 to professionally stage a home, more real estate professionals are looking at virtual staging to spruce up listings and save money. Virtual staging allows them to add furniture and other accessories to listing photos with the help of computer technology. Recent technological advancements make it possible to create realistic computer-generated images. Virtually Staging Properties has a virtual database of more than 1,000 furniture pieces, and property professionals can use the technology to stage vacant properties and receive high-resolution 8-by-10-inch images to leave in each room for just over $200. Other virtual staging programs include VirtualStagingSolutions.com, Obeo and Live Interior 3D.
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"6 Steps to Generating Free Leads on Craigslist"
RISMedia (09/25/09) Schoenly, Josh

There are several things real estate professionals can do to generate quality leads using Craigslist. After creating an account, they should determine whether they want to target foreclosure, lease option, apartment building, luxury home or first-time buyers, among other segments. Once they know the targeted niche, they can work on creating the actual campaign, which involves developing several ads because the site does not allow the same ad to be posted multiple times. Next, they should post their ads, shooting for a frequency of twice per day during the week and once a day on the weekends to ensure their ads stay close to the top of the page. Finally, they would be wise to follow up by e-mail or phone; collect contact information to send out free lists of homes and open house information; and, finally, track which ads are successful and tweak the campaign as necessary.
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"Program Helps First-Timer Homeowners in Buying Foreclosed Houses"
Green Bay Press-Gazette (WI) (10/04/09) Srubas, Paul

A new program run through the Wisconsin Housing and Economic Development Authority is making foreclosed homes available to first-time homebuyers. Dubbed Wisconsin Neighborhood Advantage, the program's two main goals are to help first-time buyers achieve the dream of homeownership and to help stabilize urban neighborhoods. It is available only in areas earning less than 120 percent of county median income in Brown, Kenosha, Milwaukee, Racine and Rock counties. These areas have been among the hardest hit by bank foreclosures during the current recession. Brown County, for instance, had nearly 500 foreclosure sales last year and is on pace to surpass that in 2009. In the county, buyers are required to meet certain minimum income requirements. In addition, they cannot exceed income limitations, and the home must not cost more than $235,000. Down payment assistance comes in the form of a forgivable loan where 10 percent of the loan amount is forgiven each year.
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"Milwaukee-Based We Energies Predicts Lower Winter Heating Bills for Fox Valley, Southeastern Wisconsin Residents"
Appleton Post-Crescent (10/07/09) Avila, Larry

In Wisconsin, Fox Valley residents can expect to see lower heating bills this winter. Milwaukee-based We Energies calculates that its customers can expect a savings of between 14 percent and 16 percent this winter -- the third consecutive season they will see a price decline. According to We Energies spokesman Brian Manthey, "We are seeing the same trends [as the government]. . . . The downturn in the economy has suppressed the cost of natural gas because demand is down." Kerry Spees, a spokesman for Green Bay-based Wisconsin Public Service Corp., adds that its clients can also expect to see heating savings this winter between $100 and $150. We Energies serves about 1 million natural gas customers across southeastern Wisconsin and the Fox Valley, while Wisconsin Public Service Corp. serves around 500,000 customers across northern and central Wisconsin.
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"Rush for $8000: First Time Homeowner Tax Credit Expires in 2 Months"
WEAU-TV (Eau Claire, WI) (10/06/09) Rinzel, Mary

The federal housing tax credit expires Nov. 30, and first-time homebuyers are scrambling in some markets to get deals in place before then. Realtors Association of Northwestern Wisconsin President David FitzGerald states, "It's a tremendous opportunity. It's the government gifting somebody $8,000." In fact, FitzGerald says he is surprised more people have yet to take advantage of this first-time buyer's tax credit. He adds, "Typically, you're looking at about a month of processing time. You don't want to really cut it to the very end because things can happen, closings can get delayed." As for rumors of Capitol Hill lawmakers pushing through an extension, FitzGerald says both the National Association of Realtors and the National Association of Home Builders have been lobbying for such an extension and for an expansion of the credit. However, he cautions that prospective buyers cannot count on either.
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"Geneva's Plan Going to County"
Lake Geneva Regional News (10/07/09) Targo, Steve

Town officials in Lake Geneva, Wis., want to see more condominiums, hotels, water parks and golf courses, as evidenced by the recently adopted 2035 Smart Growth comprehensive plan. The plan promotes the tourism aspects of the Lake Geneva community, hence the inclusion of a new land classification in the draft 2035 Smart Growth comprehensive plan. Town Chairman Dan Lauderdale recently commented, "This is going to be the Bible of the Planning Commission. It will be followed for rezones and [other land use matters]. It will put future developers on the same page as the town and give them advance notice of the town's intentions." The draft plan includes economic development reserve areas, which is an entirely new category. Lauderdale noted, "It allows for such things as golf courses with condos, hotels, water parks." To comply with Wisconsin's Smart Growth legislation, town officials have worked for the past two years to come up with a comprehensive plan that replaces the current one set to expire in 2010. With the 2035 plan, local officials are hoping to maintain the town's rural character, while promoting tourism as "its preferred employment category."
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"State Street Development Will Honor Corinne Owens"
Journal Times (Wis.) (10/05/09)

Racine Mayor John Dickert has announced that local civil rights activist Corinne Owens will have her place in history on State Street. It has been decreed that any new development that is constructed on the State Street lot to the east of the transit center will commemorate Owens, who fought for civil rights in housing and other opportunities. Dickert remarked, "While there is not current plans for developing the site by the city, any future project will include a tribute to Ms. Owens." Numerous developers have inquired about the site, but the city is waiting on decisions about the Kenosha-Racine-Milwaukee commuter rail before taking any action.
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"Housing Construction Rises in August"
Wilmington News Journal (DE) (10/02/09)

The Commerce Department reports a 0.8 percent increase in construction spending in August following a revised decline of 1.1 percent the prior month. While nonresidential project spending slipped 0.1 percent to an annual rate of $372.6 billion, outlays for private residential building climbed 4.7 percent -- the biggest gain in almost 16 years -- to an annual rate of $249.5 billion. Another sign of housing recovery emerged with the National Association of Realtors' July index of pending-home sales. The group said its gauge was up 6.4 percent that month to the highest reading since March 2007.
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"Home Prices Down 30 Percent"
Jackson Clarion-Ledger (MS) (09/24/09)

Coldwell Banker has released its annual survey on the price of a 2,200-square-foot home with four bedrooms, 2.5 baths, and an attached garage -- a "move-up" residence, typically purchased by someone needing more space due to lifestyle changes like a new job or growing family. The brokerage compared homes fitting this description in more than 300 markets and found the lowest average price, of about $112,000, in Grayling, Mich., and the highest, of more than $2.1 million, in La Jolla, Calif. Affordability appears to be improving, with roughly 33 percent of the markets in the survey boasting an average price below $200,000 -- the highest number in the last five years. Nationwide, prices are down 30 percent from their peak in the summer of 2006.
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