DS News - Digital Archives

SmartChoiceRealtyCorp.com HomesInGainesvilleFL.com Smart Choice. Smart Move. VendorSelect to help meet growing demand from its subscribers and clients to identify qualified property preservation contrac- tors to assist with repairs and renovations of foreclosed properties. VendorSelect provides its clients with Foreclosure.com forged an alliance with for single-family homes was $148,000, up 7.8 percent annually. According to the National Association of Realtors, the national median sales price for existing single-family homes in July was $187,300. A total of 7,779 townhome-condo proper- the resources to manage vendors across all property and real estate fields. Contractors and agents can create a profile and work to improve their ranking, which is based on several factors, including participation in certification programs. Jim Houston, VP of Foreclosure.com, said the strategic alliance is a "natural progression of the model in response to the huge demand for qualified, skilled contractors and vendors." "We have provided homebuyers and UNFAILING DEDICATION. » Members of four different multiple listing services for a broader marketing area for listings and an expanded look at comps for REOs and BPOs. « » Dedicated buyers agents « » On-staff property preservation manager « » On-staff marketing director « » On-staff data input manager. « » RES.NET Certifi ed, Five Star Certifi ed, and profi cient in Fannie Mae Multi-forms. « Covering: Alachua, Columbia, Dixie, Gilchrist, Levy, and Marion counties LORI CAMFFERMAN 3801 N.W. 40th Terrace, Suite B Gainesville, Florida 32606 Offi ce: 352.376.2779 Mobile: 352.215.0437 Lori@SCGainesville.com address two major issues in the valuation industry: First, it will allow real estate professionals to manage and complete their BPOs quicker and more efficiently with REflex Technologies' automated solution. Second, it will provide agents in the field with complete and accurate data sets that are easy to use, allowing them to identify and select the most accurate property comparables to help them complete and autofill BPO requests. In a release, VendorSelect cited REflex The new product will be designed to investors with direct access to local real estate agents throughout the nation for many years," Houston said. "Our Community Expert Program has created countless opportunities for real estate agents and home sellers/inves- tors to connect." VendorSelect, headquartered in Boca Raton, Florida, is a distressed asset management software company. It offers vendor management platform technology and a nationwide vendor network designed for real estate asset managers, loan servicers, and GSEs. Florida Housing Market Continues Pickup in July housing crash, Florida is continuing its steady bounce back, Florida Realtors reported in late August. According to the trade group, the After seeing some of the worst of the Technologies' data accuracy and quality as the top reasons for their partnership. By pre- populating key elements of the BPO, there are fewer chances of human error. "The industry has been burdened by unnec- essary and substantial costs dealing with inac- curate and incomplete valuations," Butler said. "We have taken the bull by the horns to resolve both issues thanks to this collaboration." Butler continued, "The VendorSelect network is the perfect group with which to launch this platform. These agents are vet- ted based upon service areas and expertise. We see the savings in cost and time for all concerned to be a significant win-win for the entire industry." 90 Sunshine State saw increases in pending sales, closed sales, and median prices in July, while inventory of homes and condos for sale dropped. "Florida's real estate recovery is on solid ties sold in Florida during the month of July, up 2.8 percent from those sold in July 2011. The statewide median price for townhome- condo properties was $102,000, up 10.9 percent over the previous year. Months' supply for single-family homes stood at 5.3, while months' supply for townhome-condo properties was 5.4. In July, the months' supply for each type of property was nearly nine months. "We really need to recognize that over the past year, we have seen a market reversal from a clear buyers' market to a neutral market to one that is verging on a sellers' market," said Dr. John Tuccillo, chief economist for Florida Realtors. "This is a precursor to price growth. Our [multiple listing service] numbers confirm this in that both median and average prices been trending up." LPS Announces Agreement with RentRange for Rental Market Data rentals continues to grow, Lender Processing Services, Inc. (LPS) announced an agreement with RentRange to offer rental property income data. Through the partnership, LPS will now be able to provide mortgage servicers and investors the information they seek to make informed decisions on distressed assets and their potential for rental income. RentalRange can be used by servicers try- As interest in converting REOs to ground," said Summer Greene, 2012 Florida Realtors president. "Since May 2011, pending home sales have increased every month for both existing single-family homes and for townhome-condo properties. In July, pend- ing sales were up more than 42 percent for existing single-family homes and 26 percent for townhouse-condo units compared to a year ago." Closed sales of existing single-family homes in the state totaled 17,420 in July, a 9.8 percent year-over-year increase. At the same time, the statewide median sales price ing to decide between selling their REOs or holding onto them for rental programs, and it can also help investors, asset managers, real estate investment trusts (REITs), or hedge fund managers determine potential rent income from a portfolio of loans. RentRange uses neighborhood compa- rables to estimate the potential income yield from certain properties and also provides other information such as vacancy rates, mar- ket saturation, and relative market strength. "LPS selected RentRange because we felt it offers the best empirically based rental es- timates of any product on the market today," said Rob Walker, managing director of LPS Applied Analytics. "RentRange is a powerful

• Cover