Exam 2 Results

Just in time before this afternoon's class, exam 2 results have been posted to BlackBoard. BlackBoard will have the exam descriptive statistics, but your grade was calculated as follows:

(muliple choice secition points + Essay section points + 3 point curve) / 60 total points

Overall, pretty good job but there was a large grade range.

Exam 2 results

I will grade Exam 2 as quickly as possible. However, because of meetings tomorrow and the estimated time it will take to grade the essay portion, I do not anticipate finishing grading until Thursday afternoon (and hopefully I will be done by class time!).

I will make a blog post when Exam 2 grades have been posted to BlackBoard. Thank you.

Deceptive Sales Techniques and Practices

Thesis

With recent changes in the real estate market, the process of buying and selling homes has become more difficult for some, leading to practices that may be deceptive. The idea of deception can take different forms from misleading mistakenly to straightforward lies, but in the end they are still deceptive and the agent or broker will be held liable.

Outline

I. Define Deceptive sales practices

A. Deceptive sales practices are not an indicator of the person’s moral standards

B. They could have made a mistake or they did not do their research

C. Malicious intent.

II. Examples of deceptive sales practices

A. Common mistakes by agent/broker

I. Failure to disclose:

a. Overlooked and did not see importance

II. Misinform

a. By lack of knowledge on important information and the misinform the true facts by accident

B. Malicious Intent

I. Failure to disclose:

a. Could jeopardize the sale based on the information if they inform potential buyer

II. Misinform

a. In order to move the sale to forward.

i. Not being truthful to answering prospects questions

b. Discriminating against anyone: example ethnicity

III. Consequences of Deceptive sale practices

I. Consequences for seller

II. Consequences for buyer

III. Consequences for agent/broker

IV. Deceptive sale practice and how to handle these issues

A. Who to contact

B. Your right as homebuyer or seller

C. How to take action

V. Conclusion

Resources

Cook, Michael. Great Agents and Bad Realtors. 2007. Retrieved October 19, 2009 from http://buyingsellingahome.suite101.com/article.cfm/great_agents_and_bad_realtors.

Department of Real Estate. Filing a Complaint with the Department, 2009. Retrieved October 21, 2009 from http://www.dre.ca.gov/cons_complaint.html.

Do's And Don'ts Of Real Estate Negotiating 2009. Retrieved October 18,2009 from http://www.squidoo.com/realestatenegotiating .

Heddings, Douglas. 2009. Seller Beware: Is Your Agent Protecting Their Best Interest? Retrieved October 21,2009 from http://www.truegotham.com/archives/cat-dirty-real-estate-tricks.html .

Merriam-Webster Online Dictionary. 2009 Retrieved October 18,2009 from http://www.merriam-webster.com/dictionary/deceptive.

Rioux, Pat, Nine Ways A Bad Real Estate Agent
Can Cost You Money. 2000. Retrieved October 22, 2009 from http://www.ired.com/news/2000/0004/badagent.htm.

Cameron Cairns

Tim Kumse

Roxana Minuz

Real Estate Negotiations

I.      On a daily basis we negotiate for daily resources; like
choosing a gas station with the right price, what to spend on dinner,
who has the better happy hour? Yet there are certain fields in which
negotiating may have more impact on you and your cost of living, like
real estate. In real estate every party involved wants to get the best
price. With several parties wanting more and not going by the rules,
it gets harder and harder to get a fair deal. When making a purchase
the buyer and seller enter into something that is called a negotiating
process. Both parties want the best out of the deal, the seller wants
the highest price and the buyer wants the lowest price. In order to
find a common ground, ethics and merit in real estate must be
considered to be the primary source to negotiating. Although when
dealing with real estate, several parties might argue that there price
is right, if you don’t argue using merit and good ethics you may not
be successful in reaching an agreement.

II.     Can ethics be taught?

III.    Step by step to negotiating with merit using
principled/integrative negotiation. Separate people from the problem.
Focus on interests, not positions. Developing objective criteria like
market value, precedent, scientific judgment, what a court would
decide, moral standards, equal treatment, cost, etc. Invent an option
for mutual gain.

IV.    Pros and Cons to negotiating with merit.

V.     Conclusion.

References:

Smith, Christopher. “Ethics play important role on all fronts for real
estate investors.” Bizjournals.com. Houston Business Journal, 27 Oct.
2006. Web. 17 Oct. 2009.

Velasquez, Manuel, Andre, Claire, Andre, Shanks, Thomas, S.J., and
Meyer, Michael J. “Can Ethics Be Taught”. Scu.edu. Santa clara
University, 1987. Web. 17 Oct. 2009.

“National Fair Housing Training Academy Gets Permanent Home”.
appliedlearningsolutions.com. Patricia Roberts Harris: National Fair
Housing Training

Academy, n.d. Web. 17 Oct. 2009.
Hejl, Roselind. “Top 7 Ways To Negotiating the Real Estate Contract”.
top7business.com. Christopher M. Knight’s Top7Business, n.d. Web. 17
Oct. 2009.

Fisher, Roger and William Ury. Getting to Yes: Negotiating Agreement
Without Giving In. New York, NY: Penguin Books, 1983.


Team members: Jose Villarreal, Jose Alvares, and Luis Ramirez.

property management

We will be discussing property management from the landlord’s point of view covering such things as possible income properties, prospective tenants, and contracts with tenants, property taxes, and landlord laws.

1. Choosing Possible Income Properties
 Apartments, Houses, condos, etc…
 Low Income or high income
 Vacation rentals
2. Selecting Prospective Tenants
 Rental applications
 Credit checks
 Background checks
 Screening and selecting Tenants
3. Entering into contracts with tenants
 Elements of the lease agreement
4. Property Taxes
 Tax write offs
5. Laws effecting Landlords
 Eviction Process
 Property Damage
 Injury or Illness caused by property
 Employment Laws

References

Lopez, Carrie. "A Guide to Residential Tenants’ and Landlords’ ." July 2006. California department of consumer affairs, Web. 18 Oct 2009. 

http://www.dca.ca.gov/publications/landlordbook/catenant.pdf

Portman, Janet, Marcia Stewart, and David Brown.Every Landlord's Legal Guide. 9. nolo.com, 2008. Print.

Michael Kremko, Mark Silva, Daniel Fiero

Mortgage Approval Requirements and Ethical Lending Standards

Cherise DeLucia
James Dallas Smith
Matthew Ringel

A. Thesis: We will review the impact of sub-prime lending on the current economic climate and lending markets and examine loan qualification requirements, ethical lending standards, consumer education, and the impact of these cornerstones on the economy as a whole.

B. Research Post Outline:

1) Pre-approval Lending Requirements and Standards of Quality Lending - Traditional mortgage requirements were stringent and not only required a quality credit score, but a 20% down payment, and a mortgage payment that less than 35% of gross income.
2) Sub-Prime Lending- Popularized during the housing boom, sub-prime mortgages were designed to offer lending vehicles for less attractive lending candidates. Requiring low down payments, variable rates that increased yearly, and stated income loans all had an eventual detrimental impact on the entire global economy.
3) Economic Crisis and Current Lending Environment- As the economy continues to recovery, and the lending markets have tightened, more emphasis has been placed on ethical lending standards and conservative mortgage qualifications guidelines.

C. References:
Collins, J. (2009, October 3). O.C. property investor seeks bankruptcy rescue: Mammoth Equities' defaults are just the latest development in mounting commercial real woes. The Orange County Register.

MSNBC.com. Fed says banks tightening mortgage standards: Both traditional and non-traditional loans are harder to qualify for. http://www.msnbc.msn.com/id/30563498/

Scherzer, L. SmartMoney.com. 7 Tips for Getting a Preapproved Mortgage: http://www.smartmoney.com/personal-finance/real-estate/7-tips-for-getting-a-preapproved-mortgage/

London, A. (2009, August 8). Fed offers mortgage search tips. News Journal,B.2. Retrieved October 1, 2009, from ProQuest Newsstand. (Document ID: 1825954401).

fha.mortgageloanplace.com/FHA-Loan-Qualification.html

www.searchlightcrusade.net/2009/04/loan_qualification_standards_l_3.html

Evaluating and Pricing Properties: Competitive Market Analysis

Kathy Xiong

Patrick Darnell

Michael Efird

Evaluating and Pricing Properties: Competitive Market Analysis

A. Thesis statement:

We will examine the ethical and moral issues that Brokers and Agents face when constructing a competitive market analysis for his or her principal.

B. Research post outline (headings and subheadings)

1. Agent should not violate Code of Ethics. This involves exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction

2. Agent’s fiduciary duty is to act ethically and morally at all times, including constructing the cma

3. Agent should find best competitive market analysis

- Agent should work with highest competence, fairness and integrity to produce highest results for clients

-Agent must recognize the interests of requiring the highest and best use of the land as well as the widest distribution of land ownership.

-Agent should avoid overpricing

-Agent should avoid estimating value below price (problem is low appraisal)

C. References (citations)

CODE OF ETHICS-evaluating and pricing. 2008. Chicago, IL. 27 Sept. 2009

www.realtor.org/MemPolWeb.nsf/pages/COde>.

www.orea.ca.gov/

www.car.org/

Real Estate Detailed Blog Proposal

Our group will be writing a blog about pricing and evaluation in the Fresno and Clovis real estate market. We will use the sources listed below to write our blog. Our group consists of Cheyenne Ison, Jose Guzman, and Mathew Curtis. A detailed outline to what we are writing about is below.

Evaluating and Pricing Properties in Fresno and Clovis

Thesis- Evaluating and pricing property is the key factor to how fast and efficient a home will be sold. When a person decides to sell their property, they need to come up with a pricing strategy that will get their home off the market quickly and for the equivalence or more of what they are asking for. In order to successfully price a property without under pricing or overpricing their property one might use the expertise of a Real Estate Agent.
An experienced realtor can direct a person in which way the market is flowing but most importantly can have the knowledge and expertise on how the demographics of the neighborhood or area are working. Jennifer Mitchell explains this in her article entitled: Above, Below and Between… “Individual neighborhoods have their own microeconomic factors to consider as well. Changes such as a new manufacturing plant to be built or changes in local zoning regulations can occur at any time. The key is for the agent to stay on top of the changes and for the seller to remain flexible and open to changes in strategy. Ultimately, your pricing method will depend largely upon your personal goals and comfort level” (Mitchell). Most of all realtors use what is called the competitive market analysis, which compares the property to similar property on the market or recently sold.
· Market data and graphs will be implemented here from the Multiple Listing Service and Fresno Association of Realtors.

Competitive Market Analysis

A competitive market analysis is the most used by realtors today, but; today’s economy makes it difficult to find homes that are of equivalence because the market is changing drastically over time. Since this analysis relies entirely on other homes on the market and those that have been sold previously, it makes it difficult to come up with a good price that satisfies the seller. The market in California and mostly in the central valley has made it difficult for sellers, due to the massive amount of foreclosures and short sales that they are competing with. “Future prices will depend of the number of foreclosures and interest rates. If the number of foreclosures falls and interest rates remain stable - we will see a rise in home prices. If we see a rise in interest rates this will lessen demand and prices may remain stable” (Hawkins). No matter the price of the original purchase, a competitive market analysis will not give the seller what they possibly are asking for but it can give them some positive cash outcome. Although this process is similar to an appraisal it has its distinctness, an appraiser uses their experience to estimate the property’s value while a realtor uses the market and comparables to set a selling price.

Pricing the Sellers Property

According to the book California Real Estate Practices, a realtor should focus on the property’s neighborhood, the property itself and the improvements that have been made to the property to allow him/her to select comparables in the same range.(Rockwell, 120) The neighborhood besides the property itself is what draws buyers to the home and gives a good estimate of the listing price. If there is vacant homes or lots in the neighborhood or if the home is next to warehouses or major highways, can affect how the price is set. The California Real Practices book mentions that a realtor should look at several specific factors that can gain interest on the property. Such as: Percentage of homeownership, vacant homes and lots, conformity meaning similarities of the homes and age, Changing land use whether or not the home is in the middle of changing from residential to other uses, how the land is shaped on the property, streets if they curve or are narrow (Rockwell, 121). Although the property can be the nicest in the neighborhood, the factors listed above can affect how the price is set. Most homebuyers today look at this to see if there is a possible future in the neighborhood or if the neighborhood will soon be abandoned. A good example of how the neighborhoods are priced can be seen in Fresno where many homes are being sold but there is a significant amount of empty homes in the same neighborhood that changes the prices of the current property. Another example can be seen on the trulia.com website where it shows that in a community like Bullard, from July through September 2009 there were 209 homes for sale, and 846 foreclosures that show that the quantity of vacant homes in a neighborhood was massive.
· Interview from Rosemarie Barrera, Realtor, will be included here.

Neighborhoods

Neighborhoods play a huge role on pricing, but after the neighborhood is studied the homes needs to be evaluated for a “ballpark” price. Examining the Property A realtor needs to study a home carefully to get a price or to be able to set it with similar homes. A realtor will look at the home in detail such as the age, size, and whether it was well structured when it was built. Most importantly the key factor of pricing is “ Number of bedrooms and bathrooms, the size of the kitchen, the presence of a garage, the degree of updating, the total square footage and the overall condition of the property rank high on most buyers' list of important factors” (Mitchell). Most people that set out to purchase a home a interested in a home that they can live in for years and grow a family in, so most look for a spacious house that fits all their needs. This is why most realtor examine the rooms, bathrooms and dining area to see if it is large enough to set a good price as in its comparables.
· Interview from Deana Wells- Appraiser will be here.

Comparable Properties

After examining the property, the next step for a realtor is to look for other properties that are similar enough, so that a price can be set. “These properties are called Comparables because they have the same or nearly the same characteristics as the seller’s property.” (Rockwell, 128). The advantages of using comparables are that the realtor and the seller can be aware of how the market is doing for homes in that similar category. It can allow them to see how fast or how long it might take the property to get attention. Everything that has to do with the current property may have similarities all around with other properties, which is why many homes in the same neighborhood have usually the same listing price with the exception of short sales and foreclosures. The use of comparables can set financing terms and conditions that can help the seller find the perfect buyer. Evaluating and pricing a property is one of the toughest factors to selling a house. This why many people settle to find a well-known and respected realtor that has experience far beyond others to set a price. Homeowners always want the most for their property and that is why there is little to no homes being sold by the owner on their own.
· Realtor interview from Tony Christian will be implemented here.

Sources

Appraiser Interview: Deana Wells

Above, Below and In-Between: How Real Estate Agents Price Properties. Retrieved September 29, 2009, from Associated Content: http://www.associatedcontent.com/article/813873/above_below_and_inbetwe en_how_real_pg5.html?cat=3

California Building Industry Association-Housing starts, afford-ability index, and general statistic info.

California Real Estate Practices. Bellevue: Rockwell Publishing, 2009.

Fresno Association of Realtors-Mortgage applications increase as mortgage rates drop.

Fresno Association of Realtors- Multiple Listing Service Statistics- Including days on market, pricing, solds, and under contracts.

Fresno Real Estate Overview. (2009, September 29). Retrieved September 29, 2009, from Trulia: http://www.trulia.com/real_estate/Fresno-California/ Mitchell, J. (2008, June 26).

Hawkins, L. (2009). News Articles-Fresno/Clovis Real Estate Market. Retrieved September 29, 2009, from YourFresnoBroker.com: http://www.yourfresnobroker.com/news.html

Realtor Interview-Tony Christian

Realtor Interview- Rosemarie Barrera

Victor Ramos, Allen Perry

Since the last part of this assignment was due our group has lost a member. Although this is true, our group is going to move in a similar direction for our project. For our project we will show the class different ways that they can finance their potential homes. We will present a number of popular ways that an individual can finance their home that some may not know. The other thing that we want to show the other members of the class is the current trends in the market. We feel that this is useful information for our fellow classmates so that they can know the present status of the market if they are currently searching to buy or sell a home.
To do this our group has collected some information on these two issues. We have found a website that presented the top ten ways to finance a home (www.acteverian.com). We also will use yahoo news to acquire the facts of the current real estate market. We will explain what the rate mean and how it affects a buyer when trying to get financing. These two aspects of home financing will help depict the ways of real estate finance and what it means to the individual.
Our group feels that presenting this information will be a sufficient means of satisfying this assignment.

Financings For First-time Home-buyers

by: Kelsi Kelly and Kelly Vang

Thesis: It can be complicated for a first-time house buyers in Fresno, CA to understand the home purchasing process; therefore, this outline intends to present frequent advices that will make first time home buyers more comfortable and familiar when buying a home. In addition, it will help save buyers money and assist in selecting the perfect mortgage loan as well as understanding first time home buyers opportunities and programs available.

First Time Home Buyers

I. Where to acquire the financings to purchase a home.
a. Calculate out how much you can afford
b. Getting pre-approved for a loan
c. Calculate how much money needed for a down payment
d. Choosing the right mortgage type:
-fixed rate/ adjustable rate
II. First Time Home Buyer Opportunities
a. The American Recovery and Reinvestment Act of 2009
-$8,000 tax credit for first time home buyers
b. City of Fresno programs
-Calhome Mortgage Assistance Program
-Home Buyer Assistance Program


Resources:

First Time Homebuyers. 2009. Retrieved on October 18, 2009 from http://www.hud.gov/buying/comq.cfm.

First Time Home Buyer Tax Credit. 2009. Retrieved on October 18, 2009 from http://www.federalhousingtaxcredit.com/2009/faq.php.

City of Fresno Home Buyer Assitance Programs (2009). Retrieved on October 18, 2009 from http://www.fresno.gov/Government/DepartmentDirectory/PlanningandDevelopment/Housing/HousingAssistance/HomeBuyerAssistance.htm.

First time Home Buyers. 2009. Retrieved on October 18, 2009 from
http://www.lendingtree.com/smartborrower/first-time-home-buyers/.

Exam 2 Coming Up...

Reminder: Exam 2 is one week from today!  Exam 2 will cover chapters 5, 6, 7, 8, and Getting to Yes (GTY).  The exam format will be 30 to 50 multiple choice questions and a essay/short answer section.  The essay/short answer section will focus on the material covered in GTY and the negotiations materials covered in class on October 15th and 20th.

Reminder: Group Blog Post Draft Due Thursday, October 22nd

See the October 3rd post below for full details.  Just a second reminder that your second version of your group blog post draft is due this Thursday.  (Don't wait until the last minute!)

Reminder: End of Chapter Practice Problems

Someone asked about the answers to the end of chapter problems.  The answer are located at the end of each chapter following the questions.

This is a good opportunity to remind everyone to do the end of chapter problems for each chapter.

'Getting to Yes' on October 15th

Slight modification to our schedule.  We will cover Getting to Yes on October 15th.  This will give you an extra week, it you need to catch-up on your reading.  Great job if you have read it already!

New Group Blog Post Assignment: thesis statement, outline, and references

I would like each group for the required blog post assignment to make a second post on or before October 22, 2009 with the following information and headings.

A. Thesis statement (see http://www.unc.edu/depts/wcweb/handouts/thesis.html)

B. Research post outline (headings and subheadings)

C. References (see http://www.libs.uga.edu/ref/mlastyle.html for appropriate citation formats)

I think this will help you and your group develop your ideas.

Thing First Time Home Buyers Should Know

Being a first time home buyer can be a complicated and stressful situation. One significant question that comes to mind when purchasing a home is, “where will I acquire the funds needed?” Therefore, our group will focus on where first time home buyers can look into in order to attain the finances when buying a house. We will also concentrate on the government assistance programs available for these individuals.

A first time home buyer needs to examine how much they can really afford before shopping for a home. A good indicator to how much you should look around for is either anything that is 35% of your monthly income or two and a half times your yearly income. Therefore, knowing how much you will be pre-approved for will also help you make a decision.

There are also various mortgages to consider. A fixed-rate mortgage allows for a person to pay the interest rate for the life of the loan that he/she signed at. An ARM (adjustable rate mortgage) is where the rates fluctuate. A hybrid mortgage has fixed rates for a period of time and then the rate adjusts for another period of time and an interest-only mortgage is where interest is paid first before the principle is paid off.

Overall, there are many crucial decisions to make, such as selecting the right mortgage and the amount to put down; therefore, looking into government assistance can be very beneficial. For example the Federal Housing Administration (FHA), this offers loans to those with average credit or little money for down payment. There is also the U.S. Department of Housing and Urban Development (HUD), which assist in down payments and closing costs.

http://www.lendingtree.com/smartborrower/first-time-home-buyers/first-mortgage/first-mortgage-basics/

http://www.smartmoney.com/spending/deals/government-aid-for-first-time-home-buyers-23171/#

Blog Post Proposal: Deceptive Sales Techniques and Practices

With a wide variety of agents and brokers selling real estate it’s hard to tell if they are looking out for the clients’ best interest or being deceptive. Time is money and not all agents and brokers follow the normal standards of fiduciary responsibility and being truthful while establishing their repetition. There is a large gap in between the levels of brokers and agents. The successful ones at the top make a great life, but some in the middle and at the bottom struggle to make ends meet. Some will do anything to make the sale close. This is not to say that only medium to lower income agents and brokers practice deceptive techniques, but those could be possible reasons for using deceptive techniques. We want to uncover some of the deceptive tactics/court cases and see what some agents/brokers have done to cross the line in ethical sale techniques and practices. We may decide to show the ways that’s agents or brokers use deceptive sale tactics or how the people affected by the can battle the negligence of ethical sales practice from the ones representing them.

Group Members: Cameron Cairns, Roxana Munoz, Tim Kumse

Research sources:

http://www.naic.org/documents/consumer_alert_deceptive_sales.pdf

http://www.associatedcontent.com

http://www.hud.gov.com/

Negotiations

The proposed purpose of our blog will be to present the process of negotiating. This process includes the identification of the purpose for negotiation, methods used in negotiating, the application of different methods as well as the ethics involved with negotiating. Identification of the negotiation involves understanding the purpose for your negotiation, is it to come to a common ground or to persuade the other to agree with your point of view. Methods and approaches will vary upon the issues and obstacles that may arise while attempting to reach an agreement between all parties. Applying the method will describe how to implement different methods as well a

One very important step to a negotiated agreement is being able to select the best alternative with creativity, so in order to select the best alternative we will be discussing the step by step process to conclude with a final resolution that both parties would agree on. Through this step by step process you will be able to know when you have reached a wise decision. Most important of all, we will explain how to separate the people from the problem, dealing with people, and the tactics used.


Group members: Jose Villarreal, Luis Ramirez, and Jose Alvares.

Property management

Property management:

Property management is a major aspect of the real estate industry today and almost everyone at one time or another has had to deal with a landlord or management agency. We will be covering both commercial and residential property management, how the business has been affected by the troubled economy, local and state laws which affect landlords and tenants, and ways to lower the risk involved in being a property manager.

Our group consists of Mark Silva, Michael Kremko, and Daniel Fierro.

 

http://www.nolo.com/legal-encyclopedia/landlords/index.html

 

http://www.takechargeca.ca.gov/besmart/landlord_tenant.shtml

 

Blog Post Proposal: Loan Qualifications and Ethical Lending

The sub-prime mortgage crisis was the result of a blend of low interest rates, inflated homes prices, excess foreign capital, deregulation of lending markets and ultimately, poor lending decisions made my banks, and poor borrowing decisions made by consumers. With the use of sub-prime lending vehicles, like adjustable rate mortgages, zero down lending, and stated income loans, banks lent money to people that could not afford the eventual terms, and consumers were often sucked into loans they did not understand or took on more debt then they could afford.

As the economy continues to recovery, and the lending markets have tightened, more emphasis has been placed on ethical lending standards and conservative mortgage qualifications guidelines. A balance between profits of mortgage brokers and banks is necessary for a stable financial market place and for the financial health of consumers. It is also the responsibility of the buyer, to understand what they can afford, versus what a mortgage broker may offer them.

We will continue to examine the loan qualification requirements, ethical lending standards, consumer education, and the impact of these cornerstones on the economy as a whole.

Group Members: Cherise DeLucia, James Smith, and Matthew Ringal

References:

A, London. (2009, August 8). Fed offers mortgage search tips. News Journal,B.2. Retrieved October 1, 2009, from ProQuest Newsstand. (Document ID: 1825954401).

fha.mortgageloanplace.com/FHA-Loan-Qualification.html

www.searchlightcrusade.net/2009/04/loan_qualification_standards_l_3.html

The Roots of the Mortgage Crisis by Alan Greenspan:

www.opinionjournal.com/editorial/feature.html?id=110010981

The Sub-Prime Mortgage Crisis Explained:

www.stock-market-investors.com/stock-investment-risk/the-subprime-mortgage-crisis-explained.html

Real Estate Financing

With today’s economic status at a low it is important to know the ins and outs of real estate financing which could save you thousands down the road. Our group is going to provide you with information that will help with future investments. The information that we will provide will consist of new techniques and how the financing aspect of real estate works. Our group consists of Victor Ramos, Allen Perry, Jennifer Cavazos. We will be looking at the following websites to bring you the latest information on the economic status of the real estate financing. http://realestate.einnews.com/archive/real_estate_financing , http://finance.yahoo.com/loans.

Blog Assignment Proposal: Real Estate Disclosure

In an attempt to put a face on the reasons for real estate disclosure requirements we will explore the common law foundation for various requirements. Historical case transcripts and analysis will be our primary sources to help show that real estate professionals should disclose because it’s the right thing to do, because the law requires them to, and because there are real financial implications for failure to disclose.

Group Members: Jenna, Randy, Valerie

Evaluating and Pricing Property

Fin 182: Real Estate Practice
Group Members:
Kathy Xiong, Patrick Darnell, Michael Efird
Blog Topic:
Evaluating and Pricing Property: Competitive Market Analysis
We wanted to take a look at how to analyze a property, how to choose comparable properties, making adjustments to the comparables, estimating market value and so on. We really want to cover all aspects of the competitive market analysis and we really want to integrate ethics into our project. We are looking forward to completing this project.
Our references for our project:
http://www.realtor.org/MemPolWeb.nsf/pages/COde
http://www.orea.ca.gov/

Blog Post Proposal

Our group will be writing a blog about pricing and evaluation in the Fresno and Clovis real estate market. We will use the sources listed below to write our blog. Our group consists of Cheyenne Ison, Jose Guzman, and Mathew Curtis.

Appraiser Interview: Deana Wells

Above, Below and In-Between: How Real Estate Agents Price Properties. Retrieved September 29, 2009, from Associated Content: http://www.associatedcontent.com/article/813873/above_below_and_inbetwe en_how_real_pg5.html?cat=3 Hawkins, L. (2009).

California Building Industry Association-Housing starts, afford-ability index, and general statistic info.

Fresno Association of Realtors-Mortgage applications increase as mortgage rates drop.

Fresno Association of Realtors- Multiple Listing Service Statistics- Including days on market, pricing, solds, and under contracts.

Fresno Real Estate Overview. (2009, September 29). Retrieved September 29, 2009, from Trulia: http://www.trulia.com/real_estate/Fresno-California/ Mitchell, J. (2008, June 26).

News Articles-Fresno/Clovis Real Estate Market. Retrieved September 29, 2009, from YourFresnoBroker.com: http://www.yourfresnobroker.com/news.html

Realtor Interview-Tony Christian

Realtor Interview- Rosemarie Barrera

Group Blog Post Proposals Due Today (October 1st)...

Must be a lot of last minute posts coming...

You will be posting on this blog.