Real Estate Voices is a cool new (to me) real estate website modeled after Digg.com. It is a great social media news site dedicated to real estate news stories. It allows members to submit real estate news stories and then vote for and comment on them. I just signed up and started to get into it. I am finding a lot of useful information and some fun stories. If you find a real estate story or article that you feel is newsworthy or interesting please submit it to Realestatevoices.com and help build this community.
Friday, July 27, 2007
Friday, July 06, 2007
Title Insurance Quote Tool
myClosingSPACE.com has developed a new title insurance quote tool that can be placed on any site allowing users to get a free title insurance quote from myClosingSPACE.com. The new tool is easy to add to any site, only requiring one line of code.
I have added it to the My Closing Space blog so you can give it try. The tool is on the left side here. If you want to add it to your site please contact mpilatowski@myclosingspace.com.
Tuesday, July 03, 2007
New Blogger
The My Closing Space Blog will be featuring a new blogger. PinkBee will be chiming in from time to time to provide her insights and unique opinion on title issues. PinkBee has a strong background in the title industry and will be able to provide unique insights and information on how consumers should navigate title insurance and related issues when buying or refinancing.
Welcome PinkBee!
End of Month Closings
Most real estate professionals know that the end of the month is high tide for closings. It's the best time because rate locks expire and days of interest are minimum. On the down side, because everyone wants to close at the same time, it's impossible to find closers - good closers that is -to close these loans. Rarely do title companies turn down closings at the end of the month because in essence everybody wins when the loan closes, but sometimes a title company has to say no to squeezing in a closing last minute, sometimes it just can't be done. Most brokers wait till the very last minute to schedule a closing and then expect a miracle. Imagine this, its the end of the month, its 6pm on a Friday and the rate lock expires on the same day. The property is located in Poughkeepsie, NY and then you find out that the co-borrower is in Aspen, CO and the broker and borrower can't understand why the loan can't close!
Sure this scenario doesn't happen often but it happens enough to possibly loose a client. I say this to advise all brokers and consumers alike that as much it may seem the title company has a vendetta against closing your loan, sometimes it just can't be done when, where and how expected. But that is not to say the title company will not go to the end of the world to make sure all possibilities are exhausted!
Monday, July 02, 2007
Hala Ranch Sale Hindered by Housing Slowdown
Well it looks like the housing market slowdown is even hurting Prince Bandar in his efforts to sell his Hala Ranch proeprty in Aspen Colorado. According to BBC, Prince Bandar is having a difficult time selling his $135 million home.
Now in the BBC article they say that the housing slowdown is causing problems for the Prince and it has been on the market for quite some time. Is it really an issue with the housing market or could it be that there are not a whole bunch of people who can afford to plunk down $135 million for a vacation home? Maybe I am wrong but it would seem to me that a home in that price range would not really be affected by the trends in real estate? I have been known to be wrong every once in a while so who knows.
Maybe it is time for the Prince to lower his expectation and move in line with the current market trends. Maybe if he lowers the price someone who actually has an interest in the real estate market trends can make an offer. Somehow I doubt that this will happen and he will eventually sell it to one of the very few people around the world that can actually buy it.
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