June 4th, 2010
Weekly Roundup
• The Library of Congress and Columbia University are beginning to preserve geospatial data (via ReadWriteWeb):
“Through its partnership with Columbia, the Library of Congress is creating a digital clearinghouse of maps and satellite images that are important for preserving the unique insights that geospatial data provides.”
• MyTechOpinion reviews new apps for the iPad:
“So you have the iPad now….time to put it to good use! To start, you need some apps. You won’t have the abundant choices like with the iPhone since it’s still early. But there are several iPad apps worth adding right away.”
• Roost introduces evaluations for broker Facebook pages (via a bird’s eye view blog):
“Facebook presents real estate brokerage companies an enormous opportunity to extend their brands – but only if it’s done right. Our intention is to help you identify where you’re strong and where you need to improve so you can do just that.”
• Tom Royce of The Real Estate Bloggers makes an interesting observation on a new negligent generation of home owners:
“If you want an example of the old school philosophy between doing whatever it takes to pay ones mortgage to the new school ‘lets just walk away from the home when it is upside down’, we need to take a look at rapper Chamillionaire.[...] This could be scary as a new generation sees the housing market not as a person’s castle and lifelong goal but as a disposable asset. “
• NAR asks for an extension on tax credit eligibility (via The Real Estate Bloggers):
“The law states that homes had to close by June 30th, 2010. But with the foreclosures, short sales, and bump in the market activity, getting to the closing time for many buyers is not going to happen. We are already seeing many of the contracts that were signed in expectation of the tax credit run into difficulties. Now, agents and the NAR are afraid that another whole crop of sales will not make it to the table in time to qualify for the handout.”
• Fannie Mae tightens restrictions on home loans, worrying some real estate analysts (via Rain City guide):
“Effective on loan applications taken on June 1, 2010 or later, Fannie Mae is requiring lenders to confirm that undisclosed liabilities are not present prior to funding a transaction as part of their Loan Quality Initiative (LQI). Currently a credit report is pulled and is valid for a specific amount of time–as long as the transaction closes prior to the expiration of the credit report, it typically is not repulled. Fannie Mae is now requiring the lender to make sure that there is no new or undisclosed credit at closing.”
Tags: geospatial data, home loan restrictions, iPad, NAR, Roost, tax credit eligibility.
