Tuesday, February 16, 2010

Real Estate Agent, Realtor

Why some real estate agents are not realtors®

What are the differences between REALTORS® and real estate agents?

Being REALTORS® and being real estate agents are not exaxtly the same.   All real estate agents are licensed to sell real estate, the basic difference between a real estate agent and a REALTOR® is a REALTOR® is a member of the National Association of REALTORS®.  With that designation, a REALTOR® must subscribe to the REALTOR® Code of Ethics. 

What does the REALTOR® Code of Ethics mean to a consumer?  Why do you as consumer should care? 

All Realtors® are licensed to sell real estate as an agent or a broker but not all real estate agents are Realtors®. Only Realtors® can display the Realtor® logo. Realtors® belong to the National Association of Realtors and pledge to follow the Code of Ethics, a comprehensive list containing 17 articles and underlying standards of practice, which establish levels of conduct that are higher than ordinary business practices or those required by law. 
Less than half of all licensees are Realtors®.

17 things that a REALTOR® promises to do that non-affiliates do not:

#1) Pledge to put the interests of buyers and sellers ahead of their own and to treat all parties honestly.

#2) Shall refrain from exaggerating, misrepresenting or concealing material facts; and is obligated to investigate and disclose when situations reasonably warrant.

#3) Shall cooperate with other brokers / agents when it is in the best interests of the client to do so.

#4) Have a duty to disclose if they represent family members who own or are about to buy real estate, or if they themselves are a principal in a real estate transaction, that they are licensed to sell real estate.

#5) Shall not provide professional services in a transction where the agent has a present or contemplated interest without disclosing that interest.

#6) Shall not collect any commissions without the seller's knowledge nor accept fees from a third-party without the seller's express consent.

#7) Shall refuse fees from more than one party without all parties' informed consent.

#8) Shall not co-mingle client funds with their own.

#9) Shall attempt to ensure that all written documents are easy to understand and will give everybody a copy of what they sign.

#10) Shall not discriminate in any fashion for any reason on the basis of race, color, religion, sex, handicap, familial status, or national origin.

#11) Expects agents to be competent, to conform to standards of practice and to refuse to provide services for which they are unqualified.

#12) Must engage in truth in advertising.

#13) Shall not practice law unless they are a lawyer.

#14) Shall cooperate if charges are brought against them and present all evidence requested.

#15) Agree not to bad mouth competition and agree not to file unfounded ethics complaints.

#16) Shall not solicit another REALTOR'S client nor interfere in a contractual relationship.

#17) Shall submit to arbitration to settle matters and not seek legal remedies in the judicial system.

The National Association of REALTORS® was founded in 1908 and has more than one million members


National Association of REALTORS® logo

Wednesday, February 3, 2010

Sales Stats 2009

Sales Statistics for RIVERSIDE County CA
Realist's most recent sale date for this county is01/28/2010
 Single Family Residence
 Time PeriodNumber of SalesMedian Sale Price 
 Dec 20093,692$200,000 
 Dec 20083,940$210,000 
 Nov 20093,176$205,000 
 Nov 20083,318$220,000 
 2009 YTD42,792$193,000 
 Time PeriodNumber of SalesMedian Sale Price 
 Dec 2009378$180,000 
 Dec 2008288$180,000 
 Nov 2009344$180,000 
 Nov 2008217$185,000 
 2009 YTD4,037$164,500 
Ref: First American Title Co.

Movin' On Up...to a Deluxe Treehouse with Style

Movin' On Up...to a Deluxe Treehouse with Style

Not ready to completely move-out of your parents' house and give up access to free laundry? Why not build something in their backyard? And if there's a cluster of healthy pine or magnolia trees, German design firm,Baumraum may be your next phone call.

Baumraum has designed some amazingtreehouses in their native Germany and other locales that make us want to ditch our urban shoebox abodes for one of these sky-high dwellings.
Baumraum specializes in arboreal homes about the size of a small caravan or RV trailer. Each unit is made to order to fit clients' needs, so anything from size, insulation, wiring, built-in furniture, mini-kitchens and flatscreen TVs are all up for discussion. Even a flushable toilet is not off-limits if there's a nearby water supply and existing sewage features on the property.

The cabin shells and interiors are pre-fabricated in Baumraum's shop. Larchwood or Oregon pine are often used in the exteriors, but they don't limit themselves to wood; light metal, textiles and synthetics are also considered in their designs.

What Baumraum won't do is build something that will destroy the natural life of a tree. Instead of using bolts or nails, they secure the treehouses with steel cables and textile belts that aren't damaging and encourage continued growth of the host trees. 

Owning a Baumraum original costs anywhere from $25,000 to nearly $200,000, so you may need Mom's cooking and that free laundry after all in order to afford one. But from the looks of it, you're guaranteed to have some of the best views in your neighborhood.

Monday, February 1, 2010

4 Demographic Trends That Will Affect Housing

4 Demographic Trends That Will Affect Housing

The report cites four major U.S. demographic trends that will have a major impact on housing.

1. Aging baby boomers (ages 55 to 64 years old): They will keep working, and many will be forced to stay in their suburban homes until values recover. Those who are able to move will choose mixed-age living environments that cater to active lifestyles. Walkable suburban town centers also will appeal to this group.

2. Younger baby boomers (46 to 54 years old): They are now entering their prime earning years but they will lack home equity and unlike the older members of their generation, they won't be able to purchase second homes. This will likely curb the prospects for the second-home market.

3. Generation Y: They are larger than the baby boom generation (with a population of about 86 million). As they enter the housing market, they are less interested in homeownership than their parents were when they were young adults. "They will be renters by necessity or choice for years ahead," says John K. McIlwain, author of the report.

4. Immigrants - both legal and illegal: They are nearly 40 million strong. They often prefer multi-generational households and if they can afford them, larger homes in neighborhoods with a strong sense of community.

Source: The Urban Land Institute