News, Information & Hot Issues

Real Estate Research

2008 Use of Technology Survey
   

C.A.R. has released its annual Use of Technology Survey, which tracks current trends in technology used by the Association’s members. As part of the survey, REALTORS® are queried on topics ranging from computer and technology adoption to Internet usage and trends.
  

According to the 2008 survey, the top business uses of the Internet for REALTORS® include e-mail (93 percent), checking online listings (90 percent), MLS access (89 percent), access to brokerage Web sites (59 percent), and access to WINForms® electronic forms software (55 percent).

Additional survey highlights include:

• Thirty-three percent use a laptop or tablet computer in the field, up from 27 percent last year. Seven out of 10 of those who use their laptop in the field cite conducting listing presentations as the main reason for doing so, an increase from 58 percent a year ago.
• Twenty-seven percent indicated that a hands-free cell phone was their most important business upgrade in the last 12 months.
• Thirteen percent said they purchased a new computer, down from 20 percent in 2007.
• When asked how technology helps them in their real estate business, 45 percent said their use of technology gives them a competitive edge over other agents in the field.
• Sixty percent pay for upgraded listings on REALTOR.com®, up from 48 percent in 2007.
• Eleven percent of respondents send their clients an electronic newsletter, while 7 percent of REALTORS® say they participate in online real estate forums or blogs.
• On average, 48 percent of REALTORS®’ business originated from the Internet in 2008, compared with 44 percent in 2007.
• Fifty-eight percent said keeping up with e-mail is one of the biggest technological challenges they face in today’s real estate marketplace.

For more information, visit www.car.org.

Cyber Chatter

Hyperlinks That Help

Here are some useful links for your Web site and for your clients:

• C.A.R.’s Mortgage Workout Programs for Homeowners

C.A.R. has compiled a list of existing loan modification programs offered by the larger lenders and government entities, including Hope For Homeowners, JP Morgan Chase & Co., IndyMac, and Countrywide Financial (Bank of America). Visit the Economics section of car.org or www.car.org/legal/mortgage-workout-programs/ .

• Chiefmall.com

Call it a clearinghouse for contractors, but Chiefmall.com aims to be consumers’ one-stop database for contractors of all specialties. Visitors can search by city, ZIP code, and specialty–from air conditioning to waterproofing–plus view portfolios of contractors’ work.

Newscan

Business Briefs & Bottom-line Boosters

REALTOR® Scholarships Available

>> The C.A.R. Education Foundation will post its premier application starting in early 2009 on the C.A.R. Web site.  The deadline for the first round of Education Foundation scholarships and awards will be May 2009, with the first award presentation in June 2009 at the C.A.R. Board of Directors Meetings in Sacramento.

The C.A.R. Education Foundation was established in 2005 with the purpose of providing real estate- and education- related scholarships and awards. To learn more about the foundation, donate, or apply—please visit the Web site at www.car.org/aboutus/carscholarships/careducation.

Green Stat

>> Thirty percent of homeowners say they would be willing to spend $5,000 or more on green improvements to enhance a home’s appearance to potential buyers. That’s according to The Living Green Consumer Survey, a survey involving 2,300 consumers, conducted by Better Homes and Gardens Real Estate.

Zillow Relinquishes Broker Licenses

>> Zillow, the online listing and property valuation site whose 2006 launch concerned some real estate professionals, has relinquished brokerage licenses in all but two states, putting to rest some observers’ worries that the company planned to broker the sale of homes. The move, according to Inman News, was a cost-cutting measure.

Member Benefits

C.A.R.’s Member Advantage Program Adds Three Partners

Carperks™

Carperks™ provides buyers a stress-free car purchasing experience, and as a C.A.R member, you have exclusive discounts at more than 850 dealers in California. You’ll save $100 to $500 below the best Internet price that a dealer has to offer before you even walk through the door. Just enter your ZIP code and let Carperks™ find a dealer near you. Your exclusive discount extends to family members or friends. Visit www.carperks.net/car to get started. As a special bonus, buy from a Carperks™ Platinum dealer (available in select areas) and receive a free $250 gift card for Sears, Best Buy, or Home Depot.

Begley’s Best™

Begley’s Best™ is an eco-friendly all-purpose cleaner designed to replace all other household cleaning products. The ingredients are all natural, non-toxic, and totally biodegradeable in just three to seven days. Begley’s Best™ dissolves away grease, grime, and dirt quickly, safely, and effortlessly. C.A.R. members receive special pricing, including a 25-percent discount on packages.

Visit www.begleysbest.com/car .

OfficeMax® Partner Advantage Program

The OfficeMax® Partner Advantage Program offers C.A.R. members a significant discount on thousands of office supplies from OfficeMax®, a leader in both business-to-business and retail office products. Sign up for an Instant Purchasing Account to have your orders shipped to you at home. Request a Business Account for larger office orders and a Digital Retail Connect card to save on in-store purchases.

Visit the Member Advantage Program page.

Newsmakers

AREAA Person of the year

Allen Okamoto, a Bay Area REALTOR® who has pioneered efforts to close the homeownership gap between Asian Americans and other ethnic groups and open the real estate industry to Asian American professionals, was named 2008 Real Estate Person of the Year by the Asian Real Estate Association of America (AREAA) at its annual convention.

Okamoto is broker-owner of T. Okamoto & Company. A member of C.A.R. and NAR, Okamoto was a founding member of AREAA. A trade organization that represents the diverse Asian American community, AREAA (www.areaa.org) has more than 12,000 members in 38 states, and gives Asian real estate professionals a voice in the various policy and business discussions that affect the real estate market and Asian American consumers.

Real Time

>> The Department of Housing and Urban Development recently hiked the ceiling for all reverse mortgages, regardless of geographical region, to $417,000.
  

>> As part of state and federal tax breaks created by the Bush Administration’s rescue plan, banks that purchase or take over failing institutions will receive tax breaks in addition to the bailout money they have received. The tax breaks will last three years. The Los Angeles Times estimates that state tax coffers will take a $300 million hit this year, with Wells Fargo being the prime benefactor.
  

>> According to a recent article in The Wall Street Journal, there has never been a foreclosure or late payment involving a residential tenant in common or TIC. However, these mortgage structures have hit a speed bump: There are no fixed-rate loans for TICs and buyers are required to renegotiate loan terms every three to five years; recently, banks have raised the rates for these non-traditional instruments as high as 7.75 percent. Consequently, the San Francisco TIC market is slowing markedly as buyers avoid TIC properties.