Category Archives: Bedford Corners NY
Chicago housing permits reach highest level in four years | Bedford Hills Real Estate
Facing the mortgage cliff | Bedford Corners Realtor
As Washington and the nation focus on the “fiscal cliff,” a critical protection for underwater homeowners also is about to go over the edge.
The Mortgage Debt Relief Act of 2007 is scheduled to expire at the end of the year.
The legislation allows borrowers to avoid paying income taxes on the amount of principal that is being forgiven as part of a loan modification or a short sale.
If the law expires, homeowners will have to pay taxes on the debt reduction. This is ridiculous.
Consider: an individual buys a home for $150,000. The economy tanks, he loses his job and faces foreclosure. He manages a short sale of the home for $80,000. Unless the law is extended, he would be taxed on the $70,000 debt that is being forgiven, as if the value that doesn’t exist were personal income.
The tax also would be imposed if the bank modified the loan, reducing the principal so that the homeowner could better manage payments. This would be devastating to struggling homeowners, particularly in Florida, among the national leaders in foreclosures.
Slapping a tax on borrowers trying to get back on sound financial ground is no way to revive the economy or the housing market. When the law was written, it was widely expected that housing, and the broader economy, would be back to normal by now. Today, the reasons for passing the act in 2007 remain painfully evident in many communities.
As Mark Goldhaber, a North Carolina mortgage industry consultant, told Bloomberg News, “If these folks are going to have to pay tax on phantom income, it’s very impactful for homeowners.”
And if the law expires, victims of bank fraud who receive settlements under the National Mortgage Settlement would be forced to sacrifice a portion of their compensation.
The federal government and 49 states worked to achieve the settlement with banks accused of using their mortgage servicing operations to defraud and even evict homeowners.
The settlement requires the nation’s five largest loan servicers to pay $21.5 billion to victims.
Much of the compensation will come in the form of reductions of the mortgage principal or lower interest rates.
But as 41 state attorneys general, including Florida’s Pam Bondi, warned in a letter to Congress, any such relief to abused homeowners will be significantly diminished if the Mortgage Debt Act of 2007 expires.
They write that “failure to extend this tax exclusion will result in $1.3 billion in tax increases on the very families who can least afford it.”
Measures in Congress would extend the tax break and spare Americans paying taxes on “assets” that don’t exist.
Congress should heed common sense and the plea of the attorneys general, who wrote:
“Each of our offices receives calls every day from homeowners trying to save their homes or struggling to recover from losing their homes. A home lost to foreclosure depresses future home sale prices, damages the value of surrounding homes, and harms families, neighborhoods and our general economy. Congress must act.”
Nomura: A Fiscal Cliff Deal Is Now Unlikely This Year | Bedford Corners Real Estate
‘We Buy Ugly Houses’ franchisor wins domain name dispute | Bedford Hills Homes
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The company behind the slogan “We Buy Ugly Houses” has prevailed in an arbitration proceeding against the previous owner of a domain name that allegedly used the company’s trademark to offer links to competing services.
Dallas-based HomeVestors of America Inc., which claims to be the “No. 1 buyer of houses in the U.S.,” has been franchising since 1996 and has about 276 franchises in 37 states. The company claims its franchisees, who are authorized to use the “We Buy Ugly Houses” trademark, have spent more than $100 million advertising the brand.
In August, HomeVestors filed a complaint against the registered owner of the buy-ugly-houses.biz domain with the National Arbitration Forum, which helps resolve domain name disputes in accordance with the policies of the Internet Corporation for Assigned Names and Numbers (ICANN) .
HomeVestors alleged the domain name was “confusingly similar” to the “We Buy Ugly Houses” mark, and that the owner didn’t have any rights or “legitimate interests” in the domain name. The owner of the domain name registered and used it bad faith, HomeVestors claimed, offering links to services that compete with those of HomeVestors.
The owner, Stewart Taylor, never responded to the complaint. A panel assigned to the case therefore accepted HomeVestors’ allegations as true and granted the company’s request to transfer the domain name to HomeVestors.
“The frequent infringement of HomeVestors’ trademarks — including both of the ‘We Buy Ugly Houses’ and ‘HomeVestors’ marks — is evidence of the vast goodwill that HomeVestors has built in those marks,” said HomeVestors litigation attorney Darin Klemchuk of Klemchuk Kubasta LLP, in a statement.
“In order to protect that goodwill, HomeVestors can and will pursue every infringement of which it becomes aware.”
The company said it has submitted another filing for domain name dispute resolution it expects will be decided in the next few weeks.
15-year mortgage becomes the go-to loan | Bedford Corners Real Estate
Expert claims fiscal cliff may affect housing market after all | Chappaqua Homes
6 Lessons From the Social Media World Forum | Bedford Hills NY Real Estate
If you go to as many social media conferences as I do, sometimes it is difficult to separate the wheat from the chaff. At least that’s the excuse I’m going to give for having my associate at Renegade, Merlin Ward share the six unique lessons he gleaned from the recent Social Media World Forum (SMWF) conference in New York City.
1. Pair Your Social with Ads
Chris Thorne, Vice President of Social Media & Media at EA, the sports game developer, found that content was more effective when coupled with Facebook advertising. They put extra care into creating content that users could “play” with, essentially gamifying their Timeline; then they made the monetary spend to promote it to as many users as possible. The result was more than just extended reach—they increased virality and sales.
2. Your Content Doesn’t Work Everywhere
Morgan Baden, Director of Social Media and Internal Communications for the book publisher Scholastic, shared their failures and successes with Pinterest. Pinterest is a natural social network for this brand, but they found that not all content is created equal. While female users enjoyed sharing book covers and special quote memes from books, photographs for events and other physical spaces didn’t attract the same interest. It seems that content made for collecting does the best on Pinterest, while amateur point-of-view photography is better left on the shelf.
3. Branch Out Beyond Your Brand
Felicia Yukich, Manager of Social Media Worldwide for Four Seasons Hotels and Resorts, discovered the secret to using social media in the hospitality industry. The fundamentals of hospitality – thinking about your guests’ stay in and outside of the hotel – translates well into social media. Therefore, Four Seasons curates content far beyond the hotel brand, such as wedding planning ideas, sight seeing destinations and recreational activities. They get into the minds of their audience and focus on their interests, just like a good concierge would do.
4. Build Social Into Your Product
In keeping with one of the conference themes, Jesse Redniss, Senoir Vice President of Digital at USA Network, noted that social works best when it’s anticipated in the product creation phase. Brands should leverage natural user behavior by building social sharing into products and providing seamless social activity around their brands online. The consensus was that users are going to be social anyway, so why not enable them?
5. There is NO Crisis Plan
Morgan Johnston, Manager of Corporate Communications at Jet Blue, and Paul Fox, Director of Corporate Communications at P&G, talked about addressing crisis as a brand. The short of it is that there is no cure for crisis, but brand openness speaks volumes. P&G invited bloggers to their shop to talk about anything they wanted and write anything they wanted—good or bad—after negative news surfaced around a certain product line. After a dramatic employee exit, Jet Blue posted on their website that they didn’t know any more than anyone else about the situation but were trying to find the answers. These clear and open lines of communication helped bring the correct information to light in the end.
6. Brands Can Talk to Other Brands
Shane Steele, Director of Sales Marketing at Twitter, shared examples of brands talking with each other, which, in turn, created viral content and brand adoration by users. Oreo and AMC had a Twitter exchange about sneaking snacks into theaters, and Taco Bell and Old Spice had an exchange about their “spicy” ingredients. These conversations were both genuine and humorous and left the door open for consumers play along.
Zillow allows rental agents to post personal webpages | Bedford Real Estate
Zillow is adding a suite of free tools and productivity solutions to allow property managers and rental agents to quickly and easily create a custom website to brand themselves or their business at no cost.
Real estate search is transitioning to a more virtual experience with an estimated 90% of home shoppers — and renters — starting their search online.
“At Zillow we’re focused on giving rental professionals the tools they need to attract and collaborate with prospective tenants,” said David Vivero, vice president of Zillow Rentals.
The target users for the new suite of tools are rental professionals who do not own a website or are looking to improve their current website.
Users can choose a personalized domain, optimize their site for search engines, integrate rentals listing and engage surfers using Zillow.






