Even if homeowner’s credit is good, property values are affected

If your neighbors have lost their homes, you could pay the price when you try to sell or refinance — even if your credit is good.

Neighbors matter when it comes to putting a price tag on homes. Appraisers use comparable sales data to calculate the value of a home, a number lenders require for selling and refinancing. And comparable sales in neighborhoods plagued by foreclosures knock down the value of homes.

The problem, which makes it much more difficult for borrowers to pull cash out of their homes, is another sign of how a sick housing market infects the entire economy, one neighborhood at a time. If borrowers are unable to refinance at lower rates, that could cause even more foreclosures, real estate experts say.

By Stephanie Andre

RISMEDIA, -When Jeri Gray took over the reigns of recruiting at RealtySouth, she quickly realized that she had not just inherited a job, but also a network of more than 2,500 untouched prospects. All the data had been procured and stored in AlignMark’s Real Estate Simulator.

“All the data was already there, but nobody was really doing anything with it,” says Gray, recruiting director for RealtySouth. “I made it my business to go through and contact each person in the system. It took quite a while, but it was worth it.”

After making contact with all 2,500 people-which Gray says “was quite a learning experience”-she started learning more about the Simulator, including how to sort her prospects and forward top candidates to her managers and offices.

RISMEDIA,- Your receptionist is often the first contact customers and partners have with your business, be it over the phone or in person, so it is very important to have the right person handling the job. And to hire the right person, it’s necessary to first identify what kind of employee you are looking for.

1. Determine Necessary Skills: Before you craft a job description for your vacant receptionist position, list the most vital responsibilities your receptionist will have. If your phone rings off the hook, a pleasant phone manner is paramount, as is composure under pressure. If you receive a constant stream of visitors at the office, screen for prospective receptionists who are personable and have a polished, welcoming demeanor.

Think carefully about the type of business you’re in and how your receptionist can best personify the image you wish to project. Screen for those who are truly interested in a receptionist role, as opposed to those who simply want to get a foot in your company’s door the easiest way possible. That said, when it comes time to conduct interviews, ask each candidate what they know about your company and listen carefully to how they respond. You want someone who has a solid understanding of the business, which helps them to present a confident and capable first impression to outsiders.

By Shelly Banjo
From The Wall Street Journal Online

Finally, it's a buyer's market out there.

For years rapidly rising prices kept many first-time home buyers out of the housing market. But as home values slide further downward and interest rates hover at relatively low levels, it may be time to start looking to buy that first house.

That is, if you have a secure job, can afford higher down payments than were required a few years ago and can meet lenders' much stricter income and credit requirements.

"Lenders aren't cutting everyone off. They're reverting to sanity after years of making bad loans," says Dick Lepre, senior loan officer at Residential Pacific Mortgage, in San Francisco.