Friday Facts January 14, 2011

Friday Facts
January 14, 2010

The CoreLogic report of 12/13/10 quotes their chief economist, Mark Fleming, “Negative equity is a primary factor holding back the housing market and broader economy. The good news is that negative equity is slowly declining but the bad news is that price declines are accelerating, which may put a stop to or reverse the recent improvement in negative equity.”

This same report notes the state where homeowners have the greatest positive equity: New York, 50%; Hawaii, 43%; Massachusetts, 40%; Rhode Island, 40% and Connecticut, 39%.


Inman News pulled “Tech Must-Haves for the New Year” from The Real Deal. They include:
QR codes – when scanned with the camera in a mobile phone, the user is given a message or website.
Docusign – allows contracts to be signed digitally
Mobile receipt – converts receipts into expense reports with the phone photo
Rulerphone – digitally measures objects after the phone’s camera takes a picture.
According to the Remodeling 2010-11 Cost vs. Value Report (www.costvsvalue.com), for mid-range remodeling projects, the following gave the greatest cost recoup upon sale in the Boston area:
1. 102.1% Steel entry door replacement
2. 72.8% Minor kitchen remodel tied with wood deck addition
3. 72.4% Vinyl siding replacement tied with wood window replacement
4. 72.2% Attic bedroom remodel
5. 71.6% Vinyl window replacement

· Inman News reports that the Congressional Oversight Panel overseeing TARP concluded that the Obama administrations Home Affordable Modification program will fall far short of its goals, and the Treasury Department’s failure to acknowledge this before it lost its authority to reallocate the $30 billion in TARP funds earmarked for the program means most of that money won’t be spent.

· From RealTrends: “Consumers today are expert comparison shoppers, always on the hunt for the best deal, but when it comes to their mortgage, borrowers often locked in their 1st home loan offer. According to a new Lending Tree survey, 96% of American consumers compare prices when shopping for anything but nearly 40% obtain just one loan quote.”