Mortgage Rescue Bill

5/9/2008

WASHINGTON, May 09, 2008

The National Association of Realtors® congratulated House Committee on Financial Services Chairman Barney Frank, D-Mass. on his leadership and the U.S. House of Representatives for voting to pass H.R. 3221, The Foreclosure Prevention Act. Their actions will help bring stability to the housing market and stem the rising rate of foreclosures.

NAR has expressed ongoing support for all the major features in the House housing package.  “Our Realtor® members appreciate the House’s hard work and bipartisan effort in bringing forth legislation that will go a long way toward helping people become and remain homeowners,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “We are pleased with the comprehensive nature of this bill.”

Realtors® have long advocated modernizing Federal Housing Administration programs that will simplify and make FHA-backed mortgages more available, and expanding FHA to allow more homeowners to refinance their mortgages. Additional bill components that NAR has long supported include reform to the government-sponsored enterprises (Fannie Mae and Freddie Mac) and permanent increases to both GSE and FHA loan limits. The proposed tax credit of $7,500 for first-time home buyers would help stimulate a weak housing market, and FHA stabilization should help thousands of families to refinance existing mortgages and keep their homes.

“This is meaningful legislation that can have a major impact. We look forward to working with the House and Senate to finalize an aggressive bill that will ensure that every American who can afford to own a home and aspires to do so will have that opportunity, and that every American who responsibly owns a home is able to keep it,” said Gaylord.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

ERA Morrison Named to the RISMedia.com Top Broker List

4/24/2008

RISMedia Ranks Top 700 Brokers in 20^th Annual Power Broker Report & Survey

ERA Morrison Real Estate is proud to announce that it has been named to RISMedia’s 20^th Annual Power Broker Report & Survey. ERA Morrison was  ranked on the top list  in closed transaction sides in the Power Broker Report, which identifies and ranks America’s largest residential real estate brokerage companies by transaction sides and sales volume.

The results of this year’s Power Broker Survey reflect the market downturn felt from coast to coast. Longer listing times, more cautious buyers and the mortgage meltdown resulted in fewer total transactions—2,322,210 in 2007 compared to 2,754,618 in 2006. Meanwhile, price appreciation continued its decline, resulting in lower total sales volume—$749,201,552,294 in 2007 compared to $855,755,959,352 in 2006.

To view the complete Power Broker Survey results, visit www.rismedia.com.

“Appearing in RISMedia’s 2008 Power Broker Report is more important than ever,” explains RISMedia President & CEO John Featherston. “By ranking the industry’s leading brokerages by sales dollar volume and transaction, we have been able to identify the leaders in real estate year after year. It’s a great promotion and recruitment tool and a great way to show consumers that the real estate industry is still open for business.

“Being among the top 700 brokers in the country is a sure way to gain the trust of speculative clients, differentiate your firm from the competition, and catch the eye of ambitious new recruits.”

For years, the nation’s top real estate brokers have sought to be included in the report—an indispensable reference tool used by the real estate industry. RISMedia’s Power Broker Report is read by more than 300,000 real estate professionals, thousands of leading corporate relocation decision makers and is accessible online to millions of interested consumers.

The Power Broker Report & Survey is compiled annually by RISMedia and is based on data collected by an annual survey of leading residential real estate brokerage firms. All sales and transaction volume comes directly from brokerages and is verified and substantiated by external sources, in most cases accounting firms, prior to publication.

Based in Norwalk, Conn., RISMedia was founded in 1980 as the premier source of news and business-development information for the residential real estate and home services industries. RISMedia is the leading media organization for best practices information, breaking news and analysis, educational and networking events, and marketing and branding solutions for the leading real estate and home services companies throughout the United States. RISMedia’s flagship publication, Real Estate magazine’s printed edition is distributed to more than 40,000 brokers and leading agents nationwide, and RISMedia’s Daily e-News is circulated to upwards of 300,000 real estate professionals each day. For more information, visit www.rismedia.com.

Fannie Mae Tightens Rules for Mortgages

4/4/2008

Fed Expands Lending Program While Lender's Require Larger Downpayments

3/12/2008

Realogy, ERA Parent Company Announces New Alliances

2/22/2008

ERA Parent Realogy Issues Major USA Campaign

2/15/2008

Realogy Corporation, a leading global provider of real estate and relocation services, and parent company of leading residential real estate franchise networks such as Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, ERA and Sotheby's International Realty, applauds the economic stimulus package approved by Congress and signed into law this week by President George W. Bush.

Trumped by Oprah

9/7/2007

Trumped by Oprah 

ERA Real Estate Survey Reveals That Northeast Boomers and Seniors Would Choose Oprah Over ‘The Donald’ as Their Real Estate Agent

– Increasingly Influential Senior Set View ‘Family’ as Key Factor When Considering Move

According to Annual Home Ownership Survey –

NORTH EAST – September 7, 2007 – Look out Donald Trump. While Oprah may be the most popular talk show host today, some Northeasterners think she would be a great real estate agent too. According to Ron Morrison, President of ERA Morrison Real Estate, Chelmsford MA, a recent survey by ERA Franchise Systems LLC revealed 26 percent of boomers and seniors in the Northeast would choose Oprah as their celebrity real estate agent, compared to 25 percent who chose Donald Trump. Celebrity real estate agents are just a part of the insights revealed today in ERA Real Estate’s annual home ownership study of adults aged 50-plus nationwide.

Northeast boomers and seniors participated in telephone surveys of more than 1,000 men and women providing insights into their real estate habits, sharing their views on the housing market, plans to move in the future, as well as their home buying and selling preferences. This is the fourth year ERA Real Estate has surveyed the 50-plus demographic. 

Family Ties

The survey revealed that nearly one out of five boomers in the Northeast plan to move in the next five years, with 67 percent saying they would consider it if it meant lower taxes. Of the 17 percent of Northeasterners who plan to move in the next five years, 45 percent would make a move to be closer to family or work. Overall, 78 percent feel that when it comes to moving, it is important to be near family.  

There’s No Place Like Home …

While 8 percent of Northeast respondents currently live in a multi-family home, 64 percent would most consider purchasing a single-family dwelling and only 21 percent would contemplate buying a condominium, townhouse or apartment. This finding supports a recent report by the Joint Center for Housing Studies of Harvard University indicating that few baby boomers will be looking to downsize. Interestingly, women appear to favor owning a condo, townhouse or apartment over males (16 percent to 11 percent, respectively).

Despite growing trends that active-adult communities are on the rise, the survey revealed that none of the Northeastern respondents would consider moving into a 55-and-over community, whereas 7 percent of Westerners would.

Good Fences Make Good Neighbors

When polled about the U.S. Presidential candidate they would most like to live next door to, the results provided some insight into the wide-open U.S. Presidential race. Democratic contender U.S. Senator Hillary Clinton led the pack in the Northeast with 27 percent. Runner-up would be John Edwards, who received 12 percent followed by Barack Obama (11 percent) and Rudy Giuliani (10 percent). John McCain came in at 9 percent, followed by Fred Thompson (7 percent)

- more -

For those who have only dreamed of living next door to a celebrity, ERA posed the question. As his golfing career will attest, the Northeast ranked Tiger Woods the best celebrity neighbor at 23 percent. Television talk show hosts Regis Philbin and Ellen DeGeneres followed closely with 20 and 17 percent, respectively. Actress Teri Hatcher of “Desperate Housewives” came in at 8 percent and it seems that ‘mobsters’ may never make good neighbors; “Sopranos” star James Gandolfini came in dead last (5 percent).

Dreaming of the Good Life

When it comes to having your dream home, 41 percent of boomers and seniors in the Northeast are still waiting. When asked what their dream home would feature, the most popular amenities included an outdoor deck/entertainment area and pristine landscaping (77 and 74 percent, respectively). Other luxuries included a designer kitchen (73 percent), indoor sauna or hot tub (52 percent) or a home theater (45 percent). About 30 percent dream of an Olympic-sized swimming pool and 15 percent would want their dream home nestled on a golf course.

“With more than 77 million baby boomers approaching retirement, it is critical that we provide valuable real estate information that is going to help them successfully prepare for retirement, at the same time, capture their thoughts on the current real estate market,” said Ron Morrison, President of ERA Morrison Real Estate, Chelmsford, MA, “As one of America’s leading real estate companies, it is our responsibility to know our consumer, and more importantly, respond to their needs with products and services that will enhance their experience with ERA.” 

The survey represents the latest in ongoing series of initiatives by ERA Real Estate to monitor and address the concerns of the growing mature consumer market. These efforts include customized and personalized marketing approaches that meet the needs of mature consumers, as well as a variety of targeted services, resources and financial options. As the first global real estate franchise to deliver the Seniors Real Estate Specialist (SRES^®) designation to its affiliates online, the ERA system is also committed to educating its sales professionals about the specific needs and concerns of mature buyers and sellers.

Survey Methodology

This report presents the findings of national telephone studies conducted during March 2007 and August 2007 by Opinion Research Corporation among a sample of 1,002 Americans aged 50 and older. Copies of the surveys are available to the media upon request.

ERA Morrison serves Northeast Massachusetts from 10 locations; Acton, Ayer, Billerica, Chelmsford, Dracut, Lowell Downtown, Lowell Centerville, Pepperell, Tyngsboro and Westford. 

About ERA Franchise Systems, Inc.
ERA Franchise Systems, Inc. is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. ERA Real Estate was recently named the recipient of the prestigious 2006 J.D. Power and Associates Award for "Highest Overall Satisfaction For Repeat Home Sellers Among National Full Service Real Estate Firms." The ERA® network includes more than 38,700 brokers and sales associates and nearly 3,000 offices throughout the United States and 29 other countries and territories. Each office is independently owned and operated except offices owned and operated by NRT Incorporated. ERA Franchise Systems, Inc. is a subsidiary of Realogy Corporation (NYSE: H), the world's largest real estate franchisor. ERA® information is available to consumers at ERA.com.

Lowell Condo Tours

6/20/2007

ERA Morrison is excited to announce yet another real estate innovation in buying and selling condos----LowellCondoTours.com.

This new approach provides buyers as well as sellers a “1 stop shop” for their real estate needs.  For the seller, their condo has an open house every Saturday and Sunday for the maximum exposure.  The advantage to the buyer is they can immediately view condos in their price range, be pre-approved on the spot, and work with Lowell’s most experienced real estate agents.  LowellCondoTours.com is located at the intersection of Market & Central Street (98 Central St.).  Tour Hours are:  Saturday & Sunday from 1:00-4:00.  Tours can also be scheduled during the week by calling 978-454-8558 or stopping in ERA Morrison Real Estate, 61 Market Street, Lowell, MA.

ERA Morrison serves Northeast Massachusetts from 10 locations; Acton, Ayer, Billerica, Chelmsford, Dracut, Lowell, Pepperell, Tyngsboro and Westford. 

About ERA Franchise Systems, Inc.
ERA Franchise Systems, Inc. is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. ERA Real Estate was recently named the recipient of the prestigious 2006 J.D. Power and Associates Award for "Highest Overall Satisfaction For Repeat Home Sellers Among National Full Service Real Estate Firms." The ERA® network includes more than 38,700 brokers and sales associates and nearly 3,000 offices throughout the United States and 29 other countries and territories. Each office is independently owned and operated except offices owned and operated by NRT Incorporated. ERA Franchise Systems, Inc. is a subsidiary of Realogy Corporation (NYSE: H), the world's largest real estate franchisor. ERA® information is available to consumers at ERA.com.