Insight | November 2012

Insight A

B i-m o n t h l y

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Social Media For You How to Make Internet Tools Work in Your Business N

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In Every Issue 2

President’s Message

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Events Calendar

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Editor’s Desk

C O N T E N T S

November 2012

Features 8

Cover Story There are hundreds, perhaps even thousands, of measurements to gauge which Internet tools can most positively affect your business. We identify some of the best of the best.

26 End Notes

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Five Minutes With …

Ginger Dowdle has been selected as a Good Neighbor Award winner by the National Association of REALTORS®. In truth, just calling her a “good neighbor” does her an injustice, as you’ll see in this piece.

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Getting the Inside Scoop You’re allowed inside an “intimate” conver­ sation, thanks to Greg Kunkleman, between Anita Sells and Elle Woods regarding how to properly handle the sale of estate property.

Departments 16 20 24

NC RPAC Gives Thanks Government Affairs The Forms Guy

P R E S I D E N T ’ S

M E S S A G E

BY LOU BALDWIN PRESIDENT

There are Countless Ways to Measure 2012 WHEN I WAS IN MY TWENTIES, ONE OF MY BEST FRIENDS FROM COLLEGE, JO, LIVED IN A LOFT APARTMENT IN LOWER MANHATTAN. I SPENT A NUMBER OF MY VACATIONS IN NEW YORK CITY, STAYING WITH JO AND HIS FOUR ROOMMATES IN THEIR TINY APARTMENT. THE APARTMENT HAS SINCE BEEN DESCRIBED IN MAGAZINE ARTICLES AS “HARSH CONDITIONS” WITH THE ONLY BATHTUB BEING IN THE CARPETED KITCHEN. I ALSO RECALL THE ONLY SINK BEING THE KITCHEN SINK, SO THE BATHROOM ONLY HAD A COMMODE. WHILE STAYING THERE WE WOULD GO TO THE ROOFTOP TO SOCIALIZE. THIS WAS OFTEN BECAUSE THE LEAD ROOMMATE, JONATHON, WAS ALWAYS WRITING MUSIC AT HIS KEYBOARD IN THE SMALL DEN. Why has this apartment, out of millions of apartments in New York City, been written about in magazine articles? Because Jonathon turned out to be Jonathon Larson, who wrote the hit Broadway show Rent, which was later also made into a movie.

Sadly, Jonathon died of an aneurism on opening night so he never knew Rent’s great success. One really important lesson I learned from this tragedy was to never take anyone for granted. The roommate in the dumpy apartment, who at the time was a waiter, won three posthumous Tony Awards and a Pulitzer Prize for drama. All for those songs he was writing in the den!

My favorite song from Rent is “Seasons of Love,” which poses the question, “how do you measure a year”? You may know some of the lyrics: Five hundred twenty­five thousand Six hundred minutes, Five hundred twenty­five thousand Moments so dear.

Five hundred twenty­five thousand Six hundred minutes How do you measure, measure a year?

In daylights, in sunsets, in midnights In cups of coffee In inches, in miles, in laughter, in strife.

In five hundred twenty­five thousand Six hundred minutes How do you measure A year in the life?

As we near the end of 2012, how do we measure our year at NCAR? We can measure our year through our enormous suc­ cess in the legislative arena. We worked for the passage of bills, such as the broker price opinion (BPO) and copper theft legis­ lation, that will benefit our members and our state for years.

We can measure it through the $50,000 we gave to non­profit agencies working to prevent foreclosures in North Carolina.

We can use numbers like 14,000 to measure our year – that’s the number of REALTORS® who rallied at the Washington Monument in May for affordable housing and private property rights. We can use the number five, for the five­year extension on National Flood Insurance that we worked for and secured … or perhaps 30,000, the number of REALTOR® members of our great state association in 2012.

We can measure the more than $1 million our members invested in Issues Mobilization, RPAC and the NC Homeowners Alliance that allowed us to fight for important legislation and help elect representatives who understand the importance of affordable housing and property rights.

We can measure our success through our “Guiding You Campaign” in which we spread the word through TV and other media that the real estate industry is vital to the continued economic recovery and job creation in North Carolina and that elected officials should not enact any legislation that would potentially do harm to our industry. We can take pride in having hosted the first­ever Real Estate Summit in our state in July, during which speakers of national stature drove home these same points about how essential real estate is to the state’s economy. Further, we can measure our year through our collaborations to co­host a breakfast and a billboard campaign in Charlotte during the Democratic National Convention.

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E V E N T S

C A L E N D A R

Key Dates in the Coming Months Nov. 28

GRI 303: Pricing Properties

Cary

Nov. 29

GRI 204: Trends in Real Estate

Cary

Dec. 5

GRI 203: Legal Issues

Charlotte

Dec. 6

GRI 103: Contract to Closing

Charlotte

Jan. 22-25

Vision Quest/Inaugural Meetings

Wilmington

Feb. 6

GRI 104: Tax Planning

Greensboro

Feb. 7

GRI 302: Real Estate Investing

Greensboro

Feb. 19

GRI 202: Business Ethics

Cary

Feb. 20

GRI 201: Business Planning

Cary

March 6

GRI 101: Residential Financing

Charlotte

March 7

GRI 102: Listing Strategies

Charlotte

March 15-19

Association Executives Institute

San Diego

March 25

GRI 303: Pricing Properties

Wilmington

March 26

GRI 204: Trends in Real Estate

Wilmington

April 22-24

NC REALTORS® Legislative Meetings

Raleigh

May 13-17

NAR Mid-Year Meetings

Washington

July 16

Real Estate Summit

Cary

Sept. 14-17

NC REALTORS® Convention & Expo

Asheville

Nov. 6-11

NAR Conference & Expo

San Francisco

Contact Us: Members of the NC REALTORS® staff can be reached Monday through Friday during regular business hours of 8:30 a.m. to 5 p.m. at 336-294-1415 or via email using the person’s first initial and last name@ncrealtors.org. Our fax number is 336-299-7872.

Administrative Andrea Bushnell Executive Vice President 336-808-4220 Bryan Jenkins Chief Financial Officer 336-294-3112 Denise Daly Membership Records Coordinator/Bookkeeper 336-808-4223 Sherry Harris Administrative Assistant 336-808-4230 Amanda Lowe Accounting Assistant 336-217-1048

Phyllis Lycan Accountant 336-808-4224 Donna Peterson Executive Assistant 336-808-4221

Communications & Marketing Kevin Brafford Director of Communications and Marketing 336-808-4225

Sarah Beth Coggin Partners Program Manager 336-217-1047

Samantha Ashburn Electronic Communications Manager 336-808-4226

Blair Wilburn Director of Business Development 336-808-4228

Barbara West Communications Specialist 336-808-4227 Professional Development Ellie Edwards Director of Professional Development 336-808-4231

Legislative Cady Thomas Director of Government Affairs 919-573-0996

Legal Will Martin General Counsel 336-808-4238

David McGowan Director of Regulatory Affairs 919-573-0994

Kay Bailey Legal Assistant 336-808-4235

Julie Woodson Director of Political Communications 919-573-0992

Events Mandy Lowe Events Director 336-808-4236

Kristin Miller RPAC Manager 919-573-0995

Keri Epps-Rashad Meeting Planner and EXPO Manager 336-217-1049

Nicole Arnold Shared Local GAD 336-808-4237

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E D I T O R ’ S

D E S K

BY KEVIN BRAFFORD EDITOR

It’s Awareness, Not Ignorance, That’s Blissful TWO PAGES FORWARD IN THIS ISSUE OF INSIGHT YOU’LL HAVE THE PRIVILEGE OF READING ABOUT GINGER DOWDLE. SHE’S ABOUT AS UNASSUMING AS ONE CAN BE, YET SHE’S AN EXTRAORDINARY WOMAN WHOSE CARE AND LOVE FOR OTHERS IS INFINITE. Ginger has been presented NAR’s ultimate honor: a Good Neighbor Award. When I first heard this story of her remarkable compassion about six weeks ago, it touched me that someone still could be so unselfish and so giving in a society seemingly overrun today by selfishness and a “me first” attitude.

Maybe it was my own eyesight that was skewed – I’m still a journalist deep down, and we media folks tend to fall a shade on the cynical side – but my perspective has changed (very much for the better) in the past month or so.

My wife, Kim, had major surgery on Oct. 23. We knew this time in our lives was coming; what we didn’t expect was the out­ pouring of love, prayer and acts of service that has humbled us

The numbers tell the story.

61 Percentage of Generation X and Generation Y members who say they’ll be ready to buy when they’ve landed a secure job, according to a Better Homes and Gardens real estate survey of about 1,000 people ages 18 to 35.

12 Percent faster that homes described as being in “move-in condition” sell than homes listed without those words, according to a recent study by a professor of real estate.

20 Percentage of consumers who, when inquiring on their own, will likely receive a credit score different from the one given to lenders, according to data from the Consumer Financial Protection Bureau.

14 Percentage of all home sales that were short-sale transactions during January through the May time period, according to RealtyTrac.

12 Percent of REALTORS® who update their home seller clients on a daily basis on what they were doing with their listings, according to a study conducted by the University of Central Florida’s Department of Psychology and Merge.

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both. From cards and flowers to visits and meals, it’s been over­ powering. The support has been felt from numerous states and even time zones, and has come not only from family, friends and co­workers but from caring individuals that I didn’t even know knew us.

While this isn’t my first rodeo with illness affecting some­ one that I deeply love, I’ve always considered myself fortunate in that, at 51, I haven’t experienced as much such heartache as others I know. I’d thought of myself as blissfully ignorant. Now, I realize I’ve just been ignorant.

That’s because I’d lost touch with much of the inherent goodness that flows through human beings. By nature, I’m an introvert. But during an intense couple of weeks at Duke Hospital, I found myself engaging in – and even prompting – conversations with strangers in elevators, waiting rooms and hallways. Maybe I needed a friend. Maybe they did. Maybe we needed each other.

Ginger Dowdle gets “it.” My guess is that many of you get “it.” I’m just now joining you, better late than never. v

FIVE MINUTES WITH...

Finding a Calling, and Making a Difference (Ginger Dowdle has been selected as one of the National Association of REALTORS®’ Good Neighbor Award winners for her work as founder of Shepherd’s Ministries, a 60-acre farm where she and husband Steve run a summer camp for the community, as well as a year-round residential program for foster children and at-risk youth. Dowdle was formerly honored last week at the NAR Conference & Expo in Orlando.)

Shepherd’s Ministries actually began in 1995. I was married at the time and we made a little homemade brochure. The goal was to help at­risk youth. The brochure included a list of the things we would need to get Shepherd’s Ministries under way and successful. My marriage ended a few years later, and I put Shepherd’s Ministries on the back burner. I was very busy and didn’t think about the ministry for several years. Ten years later, I found myself living on a farm with fencing, horses, and pastures – coinci­ dently, all the things that were originally on the “needs list” of the brochure we’d made in 1995. I had everything I needed. Well, a few months later, I met my (now) husband and I told him I wanted to help at­risk youth. He was on board and had experience with underprivileged kids, so it didn’t scare him off. A couple of months later, we got married.

NAME Regina “Ginger” Dowdle LOCATION Statesville FIRM Sunrise Realty & Development LOCAL ASSOCIATION Charlotte Regional REALTOR® Association (CRRA)

Ginger with her husband, Steve.

We started doing foster care, and the first two boys we had in our care we adopted. After a few years of them being with us, their parental rights were terminated, their mother was deceased and they didn’t want to move to go to another foster home to be adopted, so we adopted them. One of them is going to the Massachusetts Institute of Technology and the other one is still in high school and doing extremely well. We told them we wanted to work with at­risk youth, and we made sure that was something they were OK with and they were. We have anywhere from four to six boys living in our home – other than the two we’ve adopted – at any given time. In all, we’ve had over 20 kids in our care over the last few years.

When we started doing foster care, we realized that when kids age out of the foster system, they are free to go on their own. Initially, it sounds great, but think back to when you were 18 – you’re not ready to be out on your own. Many of our foster kids have gone from location to location, and they don’t really have skills to help them once they are out in the world. We really wanted to teach real­world skills so we set up our mechanic and carpentry shop to better prepare kids.

A lot of the time, on a foster child’s 18th birthday, kids are often taken to a homeless shelter. We wanted to do something about that. We have a duplex that we built so we provide housing for a maximum of four young men who have aged out of the system. We give them a sliding scale fee for their rent and continue to give them guidance to help them make good decisions.

We’d like to do more but with the economy the way it is, this is all we can do for now.

I was drawn to work with teenage boys, because I always just envisioned myself as having boys. It may be because I had all sisters growing up, and I was a tomboy and very athletic. I just always saw myself working with boys. That’s not to say we don’t want to work with girls. One thing I’d love to eventually do is provide a Mercy House for pregnant teenagers. Now is not the right time for that, but I hope it’s something we can do in the future.

I am so pleased to say that when all of our foster kids have left our home, we’ve had a good relationship with them. They may not have always agreed with what we did or the rules we had, but they were always respectful. My husband is wonderful at it: He has a good temperament – I rarely ever see him get angry – and he has a great personality to work with these guys. We keep in touch with the children we have fostered, whether it’s through Facebook or them calling to ask for guidance or advice.

For more information on The Shepherd’s Watch Ministries, visit www.tswatch.org. v

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Social Media For You

By Bridget McCrea

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How to Make These Internet Tools Work in Your Business esiree Whalen spends about an hour a day writing short, informational blogs, linking them to her firm’s Facebook, ActiveRain, and Twitter presences and updating some or all of those social networking sites. As the broker for Representing Buyers Only, Inc., in Wilmington, Whalen has been using Facebook actively for well more than a year now.” and is pleased with the results of her efforts.

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“It’s another way for me to stay in front of past and current clients,” says Whalen, who focuses on cultivating relationships that at some point may parlay into a sale or a referral. “I see it as another advertising avenue for our real estate business.” As part of that campaign Whalen posts frequent blogs about the Wilmington real estate market and the surrounding coastal southeastern North Carolina region.

The blogs let Whalen’s followers – many of whom look to her for guidance and community information – know what she’s up to. If Whalen is eating at a new restaurant and enjoying the food and atmosphere, for example, she’ll upload a quick post about the experience to her Facebook page. “It lets people know that I’m active in their communities,” says Whalen. “Buyers like to see that and tend to lean towards those Realtors who are active in their regions.”

By cultivating relationships on social media and using the tool to position herself as a “go to” REALTOR® in her area, Whalen has been able to cultivate both sales and referrals. “It builds rapport and strengthens relationships,” she says. “Over time that definitely translates into sales.”

Your Marketing Toolkit It’s no secret the REALTORS® are using social media sites like Facebook, Twitter, LinkedIn, and ActiveRain to network and interact online, but the debate remains over whether these activities produce a true return on investment (ROI) for agents.

Calling social media marketing as an isolated exercise “very inefficient,” Patrick Kitano, managing principal of Domus Consulting Group in San Francisco, says talking up real estate listings and deals on a

site like Twitter or Facebook doesn’t typically result in new client acquisition and/or closed transactions.

“It’s akin to meeting someone in the grocery line and hoping that they become your client,” says Kitano.

Kitano, who coined the term “social discovery,” (the building of name recognition through a social presence), says REALTORS® who use social media outlets to create personas outside of real estate can overcome the inefficiencies. “One of the best ways to use social media is to become a local media star,” says Kitano. “That entails talking to the community, giving it information that it wants to hear.”

Putting that information out on social media outlets like Facebook and Twitter is one thing, but how does a REALTOR® ensure that he or she is getting the best return for the time spent on such activities? Matthew Dollinger, vice president of strategic development at @properties in Chicago, for example, says the first step is to figure out exactly what you’re attempting to measure. Is it new contacts made through social media? New listings? Closed transactions?

Commission dollars?

“ROI for one agent could be completely different for someone else,” says Dollinger, who points to closed volume transactions – actually monetary revenue – as a common measure that agents have traditionally used.

Unfortunately, the nebulous nature of social media doesn’t always yield such hard numbers. “In most cases, social media serves as a way to further the overall client relationship through one-to-one communication and keeping your name in front of people,” says Dollinger. “It’s pretty difficult to measure the ROI associated with those activities.”

Drilling Down The ROI in social media becomes more measurable when a REALTOR® establishes a niche-oriented website and supports it with a Facebook and Twitter presence devoted to that specific niche. “If you create a page for ‘Carolina Village,’ and then hammer on it by posting information about events, the (continued on page 10)

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A Sampling of Measuring Tools neighborhoods, and related activities, and then direct the traffic to a website devoted to that area,” says Dollinger, “then the ROI becomes more apparent.”

Agents who are struggling with the whole concept of social media – and how to parlay it into real ROI – should avoid marketing their listings on sites like Facebook, Twitter, and ActiveRain, and instead focus on starting up conversations with current and future clients along with referral sources. The hard sell doesn’t work in the social networking environment, but relationship building – something that REALTORS® are naturally good at – does.

“For social media to produce returns, it has to be focused on engagement,” says Whalen. “If people see the value in what you’re doing, the business will come.” v

Agents looking to squeeze maximum ROI from their social media activities can use one or more of the following tools to help track progress and allocate their energy and time in the most effective manner: BACKTYPE www.backtype.com What it is/does: Helps companies to understand the real business impact of activity through social media.

GOOGLE ANALYTICS www.google.com/analytics What it is/does: Lets you measure your advertising ROI as well as track your Flash, video, and social networking sites and applications.

ICEROCKET www.icerocket.com What it is/does: A blog search engine that allows you to monitor across blogs comprehensively to see where you’re being mentioned.

KLOUT www.klout.com What it is/does: Provides social media analytics that measure a user’s influence across his or her social network.

TOPSY http://analytics.topsy.com/ What it is/does: A Twitter analytic tool that provides insights into the level of conversation surrounding certain keywords on the social media site. Topsy Twitter analytics allow you to track mentions of your domain name, Twitter name, or any keyword on Twitter.

TWEETSTATS www.tweetstats.com What it is/does: A handy tool for measuring Twitter activity.

TWITTER COUNTER www.twittercounter.com What it is/does: A service that tracks activity on Twitter.

YOUTUBE INSIGHT www.youtube.com/t/advertising_insight What it is/does: A self-service analytics and reporting tool that enables anyone with a YouTube account to view detailed statistics.

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G U E S T

C O L U M N I S T

BY GREG KUNKLEMAN WISHART NORRIS HENNINGER & PITTMAN

How to Properly Handle Estate Property Sales (EDITOR’S NOTE: OUR INTERVIEW TODAY IS BETWEEN NORTH CAROLINA REAL ESTATE BROKER “ANITA SELLS,” AN EXPERIENCED AGENT, AND ATTORNEY “ELLE WOODS” REGARDING SPECIAL CONSIDERATIONS RELATING TO THE LISTING AND SALE OF PROPERTY OWNED BY HEIRS OF AN ESTATE. YOU MAY HAVE HEARD OF BOTH. ANITA IS AN EXPERIENCED AGENT WHO IS USED TO MOVING FAST AND WHO LISTS AND SELLS MANY PROPERTIES IN A YEAR. A SIGN ON HER DOOR SAYS “MULTI-MILLION DOLLAR PRODUCER.” ELLE’S BEST KNOWN FOR HER LITIGATION SKILLS DEVELOPED AS A CRIMINAL DEFENSE ATTORNEY, BUT HAS SINCE BECOME A BOARD CERTIFIED SPECIALIST IN RESIDENTIAL REAL ESTATE IN NORTH CAROLINA.)

Anita: I had a listing appointment on property that was owned by Ma Barker scheduled next week, but Ma passed away before I could meet with her. Now her daughter, Moonbeam, wants me to sell the property. Can I do that?

Elle: Yes, you can list and sell any property if you do it with­ in the rules and regulations of your profession. Let’s think about this from two perspectives: w

You want the parties signing the Offer to Purchase and Contract to have the ownership and authority necessary to convey title when you reach closing, and;

there is a will and an “administrator” is there isn’t a will).

Moonbeam’s cooperation is great, but you will need more sig­ natures. The personal representative will be required to join in the sale of the property if it is being sold within two years of the death of the deceased owner (called a “decedent”) and prior to closing the estate file. If the administration of the estate is completed and the final accounting filed with the clerk, the estate file is deemed closed. Additionally, the personal repre­ sentative may elect to sell the property without the consent of the heirs if the court agrees that is necessary to pay the debts of the estate. The personal representative should always join in signing the sales contract and listing agreement along with any heirs, unless the estate has been closed. Once the estate is closed the personal representative has no more authority to act and is not a necessary party to the transaction.

Anita: What’s this about heirs? The only heir I know is Moonbeam.

Elle: The determination of who the heirs are depends on whether or not the decedent had a will. North Carolina law, which was clarified this year, provides that if Ma Barker (or any decedent) had a will and it was filed with the Clerk of Court, it is effective to pass title to real property to the heirs named in the will immediately upon filing of the will, retroactive to the date of death.

If Ma passed away without a will, her heirs are determined under the laws governing the administration of an estate with­ out a will (called “intestate succession” or “intestacy”). Here are few brief examples of how the intestacy laws work:

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You want your listing agreement and associated docu­ ments to be signed by all parties with a legal interest and with authority to act with regard to the property to insure payment of your fee at a successful closing.

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If Ma is survived by two children, the property would pass equally to the two children. (If Moonbeam really is adopted she will be treated just like any other child.)

Anita: Moonbeam says she will sign whatever I ask her to. I know she was Ma Barker’s daughter, although there was talk of her being adopted. That’s enough to list the property, isn’t it?

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Elle: No, not unless Moonbeam is the only heir and has been designated by the Superior Court or Clerk of Court as the personal representative of the estate (called an “executor” if

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If Ma is survived by one child and two grandchildren (the children of another child of Ma’s), the property would pass 50 percent to her child and 25 percent each to her two grandchildren.

If Ma is not survived by children or grandchildren but her parents both survive, the property would pass 50 percent to her father and 50 percent to her mother. A surviving spouse always

has an interest in their spouse’s property under the intestacy laws, but typically any real property owned by husband and wife is owned by tenants by the entireties, in which case it passes automatically to the surviving spouse avoiding the estate administration process.

parties with an interest will now be needed on the deed and other closing documents. Go to see your favorite closing attorney immediately for advice. Certain time constraints will apply, and they can be minimized by quick action in the pro­ bating of the estate.

Anita: I have heard that Ma had a will. Is it pretty simple to

Anita: What if Ma had the property listed before she died,

tell who owns the property in that case?

but it hadn’t sold? Would I still have the listing?

Elle: No, it is often difficult to interpret and ascertain the

Elle: Although the listing agreement may be enforceable

decedent’s intent in a will. Wills can give authority to an executor, a trustee, or an individual to sell real property with or without the consent of the heirs of the estate. You will want all the parties who have an interest in the property to sign your listing agreement and any sales contract.

against Ma’s estate like any other contract that she may have entered into before she died, the best practice in this situation would be to execute a new listing agreement with the heirs and their spouses as well as the personal representative. This will confirm the new owners are amenable to the sale of the property and the proposed terms of listing and avoid later problems with a recalcitrant seller who feels they have not been properly consulted.

Anita: How will I know who those parties are? Am I allowed to request a copy of the will?

Elle: You are absolutely allowed to ask for a copy of the will.

In fact, it is your duty to make sure to the extent possible that you have the correct owners and parties with an interest in the property signing any sales contract to assure their cooperation at closing. To be effective, the will must be filed with the Clerk of Court’s office, so there is no reason for Ma’s heirs not to provide a copy of this document to you. You may also be able to look at a copy at the courthouse. You are not expected to be an attorney, certifying as to the ownership of the property, but you are expected to determine the prop­ er parties to the extent you are reasonable able. A will may include language creating trusts, making special provisions for tax consequences, and other language difficult to inter­ pret. Because you want to make sure all the parties with an interest in the property sign all documents, it is advisable to have your favorite attorney review the will or the facts of the intestacy. The attorney can give you an idea who should sign the pertinent documents and who will be needed at closing to execute deeds and other pertinent documents. A good rule of thumb is to have any known heirs and their spouses included in your documentation, as well as the personal rep­ resentative if there is one.

Anita: What would have happened if Ma Barker had signed an enforceable written contract to sell prior to her death?

Elle: The heirs take the property subject to whatever enforce­ able written contract had been signed by Ma at the time of death, so the transaction would proceed as if Ma had not passed away. However the signatures of the heirs and other

Anita: I have heard Ma may have had other children that Moonbeam has not mentioned. What do I do about that?

Elle: You find out if she did by asking Moonbeam, the neigh­ bors, Ma’s minister, and anyone else you can find. It won’t do you any good to sign a contract and then find some owners will not participate in the sale later.

Anita: I would rather just deal with Moonbeam. Is it accept­ able for me to take her word on whom the owners are and worry about it later if something shows up?

Elle: No, but you might consider engaging an assistant to help you by doing the exploratory discussions with Moonbeam, friends and neighbors, and even the attorney for Ma Barker, to make sure you know as many facts about own­ ership of the property as you can. It is always best to know all the facts of ownership at the outset.

Anita: I heard about a case where the buyers bought the property from the intestate heirs who did not know there was a will. Later, a will was filed with different heirs granted the property under the will than the ones that sold the prop­ erty. How can I protect a buyer who is interested in buying estate property?

Elle: That could happen. If the buyers of the property were unrelated to the sellers and purchased it for value as bona fide purchasers, they would retain their interest in the prop­ erty. The heirs who sold without knowing of the will would (continued on page 14)

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G U E S T

C O L U M N I S T

(continued from page 13) be obligated to reimburse the actual owners under the will if the will was filed within a certain time period.

estate with the Clerk of Court and list the heirs by intestacy.

Anita: Ok, I have to run to a listing. Do you have a check­ list that I can use on these type cases?

w

After discovering as much as you can of the facts of the decedent’s family, have all heirs, heirs spouses, execu­ tors, administrators, and trustees join in executing your documents unless you have a really good reason not to.

Elle: This might help: w

Who passed away?

My last bit of advice: If Ma’s heirs do not yet have an attorney, make them go see one. It will simplify your life and you will be going to lunch soon with an attorney thanking you for the referral with an all expense paid lunch.

w

When did they pass away and is there a copy of the death certificate?

w

Has an estate been opened with the Clerk of Court? If so, does the estate have an attorney who can help answer your questions? If so contact him or her.

w

Is there a will? If so, obtain a copy and read it.

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If there is not a will the heirs will still need to open an

The author is a member of the law firm of Wishart Norris Henninger & Pittman and works in the firm’s Charlotte office.

He is a board­certified specialist in residential real estate whose practice areas include residential and commercial real estate, loan workouts, asset protection and foreclosure defense.

He can be reached at gregory.kunkleman@wnhplaw.com. v

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Boost the Level of Your Communication Skills

Attend Spokesperson Training to Help You Become More Effective in Communicating the REALTOR® Message

he North Carolina Association of REALTORS® once again is pleased to offer one of our most popular programs – Spokesperson Training. It is scheduled from 9 a.m. to 4 p.m. on Tuesday, January 22 in conjunction with the 2013 Inaugural Meetings. The site is the Wilmington Convention Center.

Spokesperson Training is designed for incoming local presidents and presidents-elect who want to improve their skills in dealing with the media.

However, the program is available to all NC REALTORS® members who wish to become more media savvy and comfortable speaking publicly and “on the record.”

This workshop will be led by Steve Klaniecki, the veteran communications and marketing director for the Washington REALTORS®. Klaniecki, who has taught similar workshops throughout the country over the past decade, utilizes video taping of attendees in an entertaining way to help increase their comfort and skill level in front of a camera – or just a microphone.

To maintain the program’s effectiveness, space is limited to 25 attendees.

The class fee is $125, which includes a buffet lunch. Spokesperson Training typically sells out quickly, so you are encouraged to register today. To do so, simply visit the ncrealtors.org homepage.

T

.

Instructor: Steve Klaniecki Date: Tuesday, January 22, 2013 Time: 9 a.m. to 4 p.m. (buffet lunch from noon to 1 p.m.)

Workshop Fee: $125 ($175 after January 3).

Note that registration is limited to 25 attendees and closes on January 15 or when sold out, whichever comes first.

Cancellation Policy: $50 after December 20 Location: Wilmington Convention Center For More Information: Contact Keri Epps-Rashad at 336-217-1049 or kepps-rashad@ncrealtors.org Registration: Online only at www.ncrealtors.org

NC RPAC Gives Thanks…

NC RPAC continues to be one of the largest in the state. It’s a nonpartisan committee organized for the specific purpose of raising funds to support political candidates of all parties, and it exists through the voluntary contributions of members, their spouses and their families. NC RPAC raised more than $337,000 this year, reaching 71 percent of our goal. More than 6,000 NC REALTOR® members contributed to the PAC, raising our statewide participation to 19 percent.

The leadership and staff of NCAR greatly appreciates your voice, time and contributions and would like to give a big “thank you” to each of you. (A complete list of all 2012 contributors can be found on our website at www.ncrealtors.org.)

Capital Club Members ($250-$364.99) William Bass Tom Barton Virginia Black Connie Bradshaw R.Harold Chappell Brad Cherry Kenneth Clay Steve Cohen Michael Collier Alison Royal-Combs Cirila Cothran Charles Dressel Joseph Faircloth Dave Ferrell Mary Fouty-Davis Ladd Freeman Jennifer Frontera Kevin Green Jeanette Holland Diane Honeycutt Amber Honeycutt Patricia Huthwaite Tom Johnson Jason Kellum June Kennedy Dawn Kilby

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Rhonda Leahy Alan Leary Robert Lewis N.Vernon Luffman Deana Manning Mark Mansfield April McDavid David McGowan Zan Monroe Michael Moran Patrick Morgan Jon Morris Betty Norman Douglas Nunnally Angela O’Bey Mollie Owen Monique Perez Ashley Powell Gary Rabon Nicole Rafferty F.Richard Roper Colleen Shriver Tina Smith Willie Snow Eddie Speas Trisha Taris Amanda Tucker Lisa Way Louis Weil David West

Dollar-A-Day Club Members ($365-$499.99) Philip Bunch Brooke Cashion Lawrence Cheatham Jane Ebberts Richard Hess Lynda Hysong Phillip Johnson Raymond Larcher Kelly Marks George Munford Nancy Radtke Max Segersbol Tracey Shrouder Marian Stafford Jeff Sweyer John Wood

Governor ’s Club Members ($500-$999.99) Diana Braun Christopher Collins Barbara Connery Laurie Donofrio

Karen Etheridge Treasure Faircloth W. Neal Hanks Debra Hays Jim Kane Carolyn Kasdorf Dolores Knudsen Linda Kolarov Susan Lacy Mike Leamon Lolita Malave Paul McGill Sam Ogburn Toni Parker Jacqueline Ricks-Sample Susan Scruggs Monica Thibodeau George Turner James Wallace Rachel Wiest Robert Wiley Alexander Wrenn

Sterling R’s ($1,000-$2,499.99) *Indicates President’s Circle

Jim Allen Nancy Anderson Lou Baldwin Michael Barr Joel Bennett Margaret Bishop Phyllis Bosomworth Nancy Braun Phyllis Brookshire Leigh Brown Andrea Bushnell* Mike Butrum Kathryn Carpenter David Cooper Connie Corey Kimberly Dawson David Deal

Rosemarie Doshier Jay Dowdy David Evans Bonzie Everson Alice Fansler Carolyn Fincher Margaret Fisher Peter Frandano Susan Franks Wendy Harris Amy Hedgecock Anne Marie Howard Ruth Hudspeth Tony Jarrett Andrew Leung James McCook Timothy Milam Chet Oehme Sheila Pierce Denise Pilkington Gary Rabon Cliff Ray Krista Sands Hensley Scott James Sherrill Betty Smith Larry Strother Tracy Swanson Michael Tavener Cady Thomas James Townsend Linda Trevor* Grady Watkins Patrice Willetts* Bruce Williams Mary Edna Williams

Crystal R’s ($2,500-$4,999.99 or $1,500 renewal) *Indicates President’s Circle

Michael Davenport Janice Hassell*

Thompson Litchfield Jerry Panz

Golden R’s ($5,000 or $2,000 renewal) *Indicates President’s Circle

Douglas Brindley* Danny Brock* Ray Burton* Cindy Chandler* Glenn Cobb* Bill Gallagher* Swayn Hamlet J. Alan Holden Thomas Lawing* Sandra O’Connor* Buddy Rudd Tony Smith H. Alan Tate Ronnie Thompson* Stephanie Walker* Myra Zollinger*

RPAC Hall of Fame Members (Lifetime Investments total $25,000 and up) Douglas Brindley Danny Brock Cindy Chandler Thomas Lawing Sandra O’Connor Scott Rooth Buddy Rudd Tony Smith H. Alan Tate Ronnie Thompson Myra Zollinger v

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P R E S I D E N T ’ S

M E S S A G E

(continued from page 2) We can measure our year in the tens of thousands of hours that our committed volunteers and professional staff put into accomplishing our mission to enhance the success of our members and improve the quality of life in North Carolina.

Five hundred twenty­five thousand Six hundred minutes!

Five hundred twenty­five thousand Journeys to plan.

Five hundred twenty­five thousand Six hundred minutes How do you measure the life Of a woman or a man?

Most of all, I measure this year by the people I have had the honor to meet and to work with as I have toured this state and this country as your president. The phone calls, notes, emails and personal statements of support and encourage­ ment as we have handled this year’s challenges have meant the world.

We lost some good friends in the REALTOR® profession this year. In February, I had just left from visiting with the family of REALTOR® Vernon Ferrell after his passing when my phone rang and I learned that my good friend, NCAR Regional Vice President Stewart Couch, had died. These are two of many special REALTORS® who passed away this year but will be long remembered.

In my inaugural speech in January I spoke about the “REALTOR® Family” and the lasting relationships we form in this great profession. I saw a lot of love in that family this year as we reached out to each other and to those in need around our state during challenging times.

So as we begin to wrap a bow around 2012, I will leave you with one last verse on how we can measure our year: It’s time now to sing out, Tho’ the story never ends Let’s celebrate Remember a year in the life of friends

Remember the love!

Remember the love!

Seasons of love!

Sincerely,

Lou Baldwin

zipVault® Now Available to All NC REALTORS® for Free!

IN 2011, NCAR BEGAN OFFERING ZIPFORM SOFTWARE, FREE OF CHARGE, TO N.C.

all documents necessary for a transaction in one central location.

REALTORS® AS A MEMBER BENEFIT. AS OF OCT. 1, ZIPVAULT®, AN ELECTRONIC DOCUMENT STORAGE TOOL, IS ALSO NOW AVAILABLE TO MEMBERS AT NO ADDITIONAL COST. In today’s market, zipForms® knows that real estate pros need their information at a moment’s notice. zipVault®, an electronic document storage tool, streamlines the transaction process by providing agents and brokers with a place to store important information in one easily accessible, secure location. Storing files in zipVault® eliminates the cost of storing traditional paper files. The reliable and user­friendly document storage tool keeps

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To add zipVault®, log into your zipForm® product and add the zipVault® product via the “SHOP” tab or “ZIP­ FORM® STORE” tab, depending on which version of zipForms® you are using. For more information, visit www.zipforms.com or call zipForms® customer service line at 586­840­0140, Monday­Friday, 8 a.m. to 8 p.m.

For more information on adding zipVault® to your current zipForm product, visit www.zipforms.com. Just log into your zipForm product and add the zipVault® product via the “SHOP” tab or “ZIPFORM STORE” tab, depending on which version of zipForms® you are using. v

G O V E R N M E N T

A F FA I R S

BY JULIE WOODSON DIRECTOR OF POLITICAL COMMUNICATIONS

Election Results Lead to Shift in N.C. Politics THIS MONTH’S ELECTION RESULTS FURTHER SHIFTED POLITICS IN NORTH CAROLINA. FOR THE FIRST TIME IN 20 YEARS, VOTERS ELECTED A REPUBLICAN GOVERNOR IN PAT MCCRORY. THE NORTH CAROLINA SENATE IS NOW 32-18, CONTROLLED BY REPUBLICANS. THE

Full Slate of Results in the NC Congressional Races

NORTH CAROLINA HOUSE IS 77-43, WITH REPUBLICANS ALSO CONTROLLING THAT CHAMBER. A large majority of candidates supported by NC REALTOR® Political Action Committee (RPAC) and the NC Homeowners Alliance were successful on Election Day. Of the 72 candi­ dates supported by the NC RPAC, 66 won and six lost. Those numbers include the races where RPAC supported both candidates.

Of the seven candidates supported by the NC Homeowners Alliance with independent expenditures, six won their elec­ tions. All five legislative candidates supported by the Alliance were successful. In House District 88, Rob Bryan defeated incumbent Martha Alexander. In House District 49, Dr. Jim Fulghum defeated his opponent, Keith Karlsson.

Incumbent Sen. Neal Hunt defeated Sig Hutchinson in Senate District 15. Gene McLaurin defeated Gene McIntyre in Senate District 25. In House District 41, Rep. Tom Murry received a majority of the votes to defeat his opponent, Jim Messina.

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NC1 – Rep. G.K. Butterfield was re­elected.

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NC2 – Rep. Renee Elmers was re­elected.

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NC3 – Rep. Walter Jones was re­elected.

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NC4 – Rep. David Price was re­elected.

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NC5 – Rep. Virginia Foxx was re­elected.

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NC6 – Rep. Howard Coble was re­elected.

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NC7 – Too close to call. Rep. Mike McIntyre is current up approx. 500 votes over NC Senator David Rouzer, but a recount is likely.

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NC8 – Richard Hudson defeated incumbent Rep. Larry Kissell.

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In one of the most highly watched races from the business community’s standpoint, N.C. Supreme Court judge Paul Newby defeated his opponent Sam Ervin IV, with 52 percent of the vote.

The Council of State now has six Democrats and four Republicans, including McCrory. All incumbents who ran for another term were re­elected: Wayne Goodwin (D) as com­ missioner of insurance; Beth Wood (D) as auditor; Cherie Berry (R) as commissioner of labor; June Atkinson (D) as superintendent of public instruction; Janet Cowell (D) as treasurer; Steve Troxler (R) as commissioner of agriculture; and Elaine Marshall (D) as secretary of state. Dan Forest (R) defeated Linda Coleman in a tight race for lieutenant gover­ nor. Attorney General Roy Cooper (D) ran unopposed.

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NC9 – Robert Pittenger defeated challenger Jennifer Roberts for the seat being vacated by Rep. Sue Myrick.

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NC10 – Rep. Patrick McHenry was re­elected.

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NC11 – REALTOR® Mark Meadows defeated chal­ lenger Hayden Rogers for the seat being vacated by Rep. Heath Shuler.

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NC12 – Rep. Mel Watt was re­elected.

NC13 – George Holding defeated Charles Malone for the seat being vacated by Rep. Brad Miller.

In N.C. Congressional races, at least nine Republicans have won, due largely to newly redrawn districts. Unofficial results showed George Holding of Raleigh was winning the seat held

by Democrat Brad Miller. Republican Richard Hudson defeat­ ed Congressman Larry Kissell in the 8th District.

In a very close race in District 7, U.S. Rep. Mike McIntyre is narrowly defeating Republican state senator David Rouzer.

Unofficial results show that McIntyre is only 507 votes ahead, and there will likely be a recount since the lead is so slim.

“There will be many new leaders at the state and federal lev­ els beginning in 2013, and it will be our job to educate these leaders about the vital role that the real estate industry plays in the economy in North Carolina,” says Amy Hedgecock, the chair of NCAR’s Legislative Committee. “We will work with elected officials on both sides of the aisle and continue to pro­ mote housing affordability and private property rights in our state. v

Experienced

“

While there may be different leaders at all levels of government, the strong value of the real estate industry in North Carolina remains the same.

The real estate industry is the key to North Carolina’s economic recovery, and we will work to ensure that our leaders understand that as we move forward.

”

Martin & Gifford, PLLC is a law firm dedicated to serving the interests of real estate brokerage professionals across the State of North Carolina.

Knowledgeable Committed legal advocates

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Professional license defense – North Carolina Real Estate Commission

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Commercial and residential real estate litigation – fee disputes, defense of misrepresentation and other claims against real estate agents

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Representation of landlords and property managers in lease disputes and evictions

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Construction litigation

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Risk management guidance for firms and agents – development of specialized forms, policies and procedures

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Formation and licensing of real estate firms

www.martingiffordlaw.com 336.714.0333

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F O R M S

G U Y

BY WILL MARTIN GENERAL COUNSEL

Disclosure Statement to Change on Jan. 1 Dear Forms Guy: One of my buddies told me that the Disclosure Statement is going to change again this coming January. I told him he was crazy. The Disclosure Statement just changed this past January. There’s no way it’s changing again this soon. Tell me it ain’t so. Sincerely, Joe

w The term “dwelling” has been defined. It refers to the dwelling unit or units to be conveyed with the property, and “dwelling unit” refers to “any structure intended for human habitation.” w

Dear Joe: It’s so. The Residential Property and Owners’ Association Disclosure Statement is changing effective Jan. 1, 2013. Sincerely, Forms Guy Joe: What’s the story?

Forms Guy: In 2011, the General Assembly passed a law requir­ ing the N.C. Real Estate Commission to change the Disclosure Statement to address certain information about any owners’ association regulating the property. New questions were added to the Disclosure Statement effective Jan. 1 of this year. When the Commission’s legal staff was in the process of adding the new questions, it concluded that the format of the Disclosure Statement has become unworkable. The main difficulty is with the two “lead­ins” to questions 1 through 12 and 13 through 20.

The lead­ins are worded differently, you have to refer back to the relevant lead­in on every question, and it’s challenging when an individual question is added or amended to make the ques­ tion “work” with the existing lead­ins. So, the Commission decided to scrap the format of the Disclosure Statement and create a new one.

Joe: What’s the new Disclosure Statement look like?

Forms Guy: The new Disclosure Statement has 37 self­contained questions. The lead­ins have been eliminated. Questions 1 thor­ ough 31 apply to all properties and questions 32 through 37 apply to properties regulated by owners’ associations or which may be subject to restrictive covenants in the absence of an own­ ers’ association.

Joe: Are there any new questions?

Forms Guy: A great deal of the wording of the questions in the new Disclosure Statement is identical or very similar to the wording of the questions in the existing Disclosure Statement.

However, in addition to the new formatting, there are several additions or changes to the content, including the following:

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The fact that the seller is only required to disclose infor­ mation about which the seller has actual knowledge has been made clearer in instruction #2 and in the short paragraph immediately preceding question 1. w If the dwelling is serviced by a septic system, question 17 asks for the number of bedrooms allowed by the septic permit if records are available. w If a fuel source is stored in a tank, question 12 asks whether the tank is above or below ground and leased or owned. w Questions 10 and 11 ask for the age of the heating and cooling systems. w

Question 1 asks for the year in which the dwelling was constructed rather than its age, and question 4 asks for the year in which the dwelling’s roof covering was installed rather than its age. w The list of possible materials comprising the dwelling’s exterior walls has been expanded in question 3. w

“Shared well” has been added to the list of possible water supply sources in question 13. w “Polybutylene” has been added to the list of possible water pipe materials in question 14. w Garage door openers and gas logs have been added to the list of systems in question 19. w “Generator” has been added to the list of items compris­ ing the electrical system in question 7. w

Question 20 clarifies that the question about problems with appliances applies to appliances that may be included in the sale. w

The question addressing “room additions or other struc­

tural changes” has been modified to address “structural addi­ tions or other structural or mechanical changes to the dwelling(s)” (question 23). w

The question addressing violations of zoning ordinances, restrictive covenants, etc. has been modified so that it applies only if the seller has been notified by a governmental agency of such a violation (question 24). w

Buried or covered debris has been added to the list of hazardous or toxic substances in question 25. w The term “federally­designated flood plain” has been changed to “federally­designated flood hazard area” in keep­ ing with the term used by FEMA (question 29). w The “and” in the question asking whether the property is subject to regulation by an owners’ association and governing documents has been changed to an “or” to clarify that the question also addresses properties not regulated by an own­ ers’ association but which are subject to restrictive covenants (question 32). w

A new question 33 has been added that specifically asks for fees charged by an owners’ association or management company in connection with the transfer of the property. w Question 24 in the existing Disclosure Statement has been broken into separate two questions in the new Disclosure Statement so that judgments or pending suits involving the property and judgments or pending suits involving the planned community or owners’ association are addressed in different questions (questions 35 and 36). w

If the seller answers “yes” to the question about whether “Recreational Amenity Maintenance” is paid for by the own­ ers’ association, the seller must specify which amenities are covered (question 37).

Joe: Blimey! That seems like a lot of changes.

Forms Guy: Blimey? Are you British, Joe? Joe: No, but I’m a big fan of Downton Abbey.

Disclosure Statement are helpful and that the new Disclosure Statement is easier to use.

Joe: Will the owners of listings that are in place prior to Jan. 1, 2013, be required to complete and provide the new Disclosure Statement if they’ve already completed the existing Disclosure Statement?

Forms Guy: Good question, Joe. I’m happy to say that the answer is “no.” N.C. Real Estate Commission Rule 58A.0114(c) specifically provides that the new Disclosure Statement “applies to all properties placed on the market on or after Jan. 1, 2013.” Thus, if the property is placed on the market prior to Jan. 1, 2013, the seller would complete the existing Disclosure Statement and would not be required to fill out a new Disclosure Statement if the property is still on the market on or after Jan. 1.

Joe: What if the seller completes the existing Disclosure Statement before Jan. 1 and then something happens after Jan. 1 that would require the seller to correct it?

Forms Guy: Another good question, Joe. In such a case, if there is a need to correct the Disclosure Statement on or after Jan. 1, the seller would need to use the new Disclosure Statement to make the correction.

Joe: When can I get a copy of the new Disclosure Statement?

Forms Guy: The N.C. Real Estate Commission has indicated that the new Disclosure Statement will be available on the Commission’s website on or around December 1st. The new Disclosure Statement will also be available by Dec. 1 in the “Forms and Contracts” section of the NCAR website as form #140.

Joe: Can I start using the new Disclosure Statement prior to Jan. 1, 2013?

Forms Guy: No, Joe. You must use the current Disclosure Statement through the end of the year.

Joe: Okay, thanks Forms

Forms Guy: I see. Back to the Disclosure Statement, most of

Guy.

the changes are pretty technical. Overall, I don’t think you’ll find that the new Disclosure Statement is all that different from the current Disclosure Statement. I also think you’ll find that the changes in the format and content of the new

Forms Guy: You’re welcome, Joe. Ta ta and tally ho!

Contact Will Martin at wmartin@ncrealtors.org if you have a question or a suggested topic of discussion for The Forms Guy

I N S I G H T No ve m b er 2012

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E N D

N O T E S

Inside the Industry – Beyond Murphy to Manteo Couple Willing to Sell Home to Find Dog A couple in Warren, Texas, has listed its home for sale in order to be able to offer $50,000 as a reward to find its missing dog. Charlie Parker says his missing chocolate Lab, named Sir, means everything to the family and it’s willing to give up the roof over its heads in order to find him. “He plays such a great role in our lives,” says Parker, who has had the dog for five years. “Whatever it takes, just bring me the animal and I’ll pay you.” The chocolate Lab disappeared Sept. 15 while Parker was mowing the lawn. The family is offering a $50,000 reward to anyone who returns the dog safely. In order to offer the reward, the family put its home on the market.

Households Getting Even More Crowded More generations are sharing one roof and households will likely only get bigger in the years ahead, surveys show. Nearly a third of homeowners say they expect their adult children and aging parents to eventually move in with them, according to a new survey of more than 1,000 homeowners conducted by homebuilder PulteGroup. One in seven homeowners surveyed say they already have an adult child or elderly parent living with them. Indeed, multigenerational households are at their highest level since the 1950s, according to Pew Research Center.

Cali Metros See Large Inventory Declines For­sale inventories of single family homes, condos, town­ homes, and co­ops continue to hover at historic lows, down nearly 18 percent compared to a year ago, according to September housing data from Realtor.com. Some markets have seen inventories drop even more in the past year, falling by 60 percent or more in some cases. California continues to see some of the biggest drops in for­sale listings nationwide, as well as some of the largest increases to median asking prices. For exam­ ple, in just one month from September to August, the Stockton­ Lodi, Calif., metro area has seen inventories of for­sale homes shrink by 35 percent. In Sacramento, inventories have fallen by nearly 34 percent.

Move Inc. Acquiring Relocation.com Move Inc., which operates Realtor.com, announced it is acquiring Relocation.com, an online company that matches homebuyers and renters with moving and storage companies, for $11.5 million in cash. Move Inc. officials say that its acquisi­ tion of Relocation.com will help the company inch closer to becoming a one­stop destination for accessing real estate­related

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information and services. Relocation.com features pre­ screened and licensed moving, auto transport, and storage companies from across the United States and internationally.

530 Charged for Scamming Homeowners After a yearlong probe, federal investigators say they’ve charged 530 people for allegedly defrauding more than 73,000 homeowners who had fallen behind on their mortgage pay­ ments. The people charged are accused of allegedly duping the homeowners into thinking that they could be rescued from foreclosure through the scammers’ fake rescue programs, investigators say. The scams have resulted in 285 criminal cases of mortgage rescue scams and more than $1 billion in losses to homeowners, U.S. Attorney General Eric Holder recently said.

More Say Walking Out on Mortgage OK Thirty­two percent of Americans surveyed say homeown­ ers should be able to strategically default on their mortgages without facing any consequences for doing so, according to data compiled by JZ Analytics. What’s more alarming, 13 per­ cent say they would likely strategically default and another 17 percent say they know others who have already walked away from their mortgage obligations. Thirty­six percent of Americans surveyed also said they believe it’s acceptable to have a poor credit score.

Sellers Overestimate Their Home Value Many homeowners think their home is worth a lot more than it really is, according to HomeGain’s third quarter 2012 National Home Values Survey Results of 300 real estate agents. Seventy­seven percent of sellers say their home is worth more than their real estate agents’ recommended selling price. Some homeowners are overestimating the value of their home by up to 20 percent. Nearly 40 percent of real estate agents surveyed say that homeowners believe their home is 10 to 20 percent higher than it really is, with another 40 percent reporting overestimates of one to nine percent. Only about six percent of homeowners underestimate the value of their home.

Facebook ‘Population’ Tops 1 Billion Facebook reached a new milestone recently, topping more than a billion people who log onto the social network each month. Its population has doubled since reaching the 500 mil­

lion milestone in July 2010. Nearly half of the world’s 2.5 billion Internet users now use Facebook, according to the International Telecommunications Union. In real estate, 78 percent of agents and 79 percent of brokers say they use Facebook for their busi­ ness — the most popular social network used by real estate agents.

Study Finds Gaps in Online Listing Info Some home shoppers may not be getting a full or accurate picture when they view listing information on some popular real estate websites, suggests a study conducted by the WAV Group on behalf of Redfin. The study evaluated the accuracy of information contained in more than 6,000 listings among 33 zip codes on five sites: Zillow, Trulia, Redfin, and two regional real estate brokerages — Windermere and Long & Foster. The Redfin study found that 36 percent of the agent­listed homes shown as active listings on Zillow and 37 percent of those on Trulia were no longer for sale on the local multiple listing service.

Foreign Buyers Flock to Sunny States U.S. housing prices are starting to creep up from the rock­ bottom levels of recent years, which is prompting foreign buy­

ers to invest now before the bargains disappear. Traditional favorites, such as Florida, Arizona, Texas, and Southern California, stand to benefit most as they scoop up the deals still remaining in those preferred destinations. Canadians — accounting for nearly a quarter of home sales to foreign buy­ ers in the 12 months ended in March, according to the National Association of REALTORS® — will likely continue to lead outside investment in the coming months, thanks to the strength of the Canadian dollar.

Couple Says Neighbors Are Sabotaging Sale A Warwick, R.I., couple say that its “nightmare neighbor” and the neighbor’s antagonizing bird are making it difficult to sell its waterfront home. Craig Fontaine and Kathleen Melker have filed more than 30 police reports against their neighbors, alleging the neighbors have done everything from shoot at the couple’s home using an air pellet gun to trying to kill their cat by trapping it in a car on a hot day. The latest was the final straw for the couple, however: The neighbors, they allege, trained their pet cockatoo to repeatedly scream obscen­ ities at them. The neighbors, Lynne Taylor and Christopher Levasseur, have also filed a complaint against the couple alleging they’ve been “antagonizing her bird.” v

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