Archive for the ‘News’ Category

Ruth Roseboom checks her Facebook page at least once a day. The 78-year-old grandmother from Celebration, Fla., has 40 Facebook friends and likes to see what they are up to at any given time.

Roseboom is part of a growing number of adults logging onto social networks such as Facebook and Twitter to stay connected, according to a study released recently by the Pew Research Center’s Internet and America Life Project.

In fact, for adults 50-64 years old, the use of social networking sites have jumped by 88% in the past year, the study found. For those 65 and older, it has doubled.

The younger generation remains the biggest users of Facebook and other sites. But the report shows that seniors currently make up the fastest-growing group.

“It’s surprising to see just how fast they are growing,” said Mary Madden, senior research specialist and author of Pew’s study.

Orlando, Fla., grandmother Rosie Chapman, who only revealed that she’s older than 65, joined Facebook more than a year ago. Like Roseboom, she prefers to go online to keep tabs on friends and loved ones, especially her three college-age grandchildren. Neither she nor Roseboom, however, generally share their daily activities.

Chapman was struck by some of the spiritual comments her grandson posts. “I never saw that side of him before,” she said with a smile. “I’m so proud of him.”

For the study, a survey was conducted of 695 adults who were 50-64 years old and 518 adults who were 65 and older.

The Pew Center points to several factors that contribute to why older adults are logging on to social networks now.

-It helps bridge the “generation gap.” The social networking sites bring people of all ages together in one space. Roseboom and Chapman are examples of that.

-More social network users are more likely to reconnect with people from their past. These reconnections can be powerful support when people are entering another phase of their life, such as retirement or a new career.

-Older adults are more likely to be living with chronic diseases, and those with diseases are more opt to seek support online.

More organizations, such as AARP, that cater to older adults are promoting social media networks.

Jeff Johnson, AARP manager of Florida operations, said the nonprofit organization uses Facebook and Twitter, as well as e-mail and traditional mail to reach members. “Over the past year, we have noticed more and more people discovering Facebook,” he said.

For the first time, AARP included a session last year at its annual convention that focused on social networking. It turned out to be a standing-room only event. It proved to be so successful that a session is scheduled at this year’s convention, which will be held in Orlando next month.

In May, AARP also taught its volunteer leaders for the first time how to use Facebook and Twitter to advocate for older adults.

“There is a growing understanding” on how it can be used, Johnson said.

John Evans Henderson, 62, knew he needed to embrace Facebook and Twitter as he embarked on a new career. He’s taking classes and focusing his new business on design building, especially homes, that are both “green and healthy.”

The Maitland, Fla., man has two Facebook accounts—one personal and a fan page for his business, Mr. House Guy. He spouts his opinions on his personal account, but opts to share environmental issues on his fan page. “I use it to get the word out about what I’m learning and what I can do for people,” he said.

Henderson isn’t surprised to hear more people his age are using social networking. He’s reconnected with several high school friends. It feels more like a natural progression for him, he said. “I think more people are seeing the way businesses are going,” he said, adding they have to adapt to the changing technology.

Seniors Now Computer Learning Center, which offers computer training at two Orange County, Fla., senior centers, doesn’t have a class dedicated to social networking, but it may develop one, said the group’s president Tom Springall.

Most older adults, he said, come to the organizations wanting to know two things: how to e-mail and how to get on the Web.

So far, e-mail is the most popular way older adults prefer to communicate online, he said. That, too, was reflected in Pew’s study.

Overall, 92% of those ages 50-64 and 89% of those 65 and older send and read e-mails. “While e-mail may be falling out of favor with today’s teenagers, older adults still rely on it heavily as an essential tool,” the report said.

Twitter, the micro-blogging site, tends to be lagging far behind Facebook. For example, Roseboom wasn’t sure what it was and Chapman didn’t find a need to use it. But it is slowly gaining ground.

In 2009, just 5% of users ages 50-64 had used Twitter or another status update service. That’s gone up to 11% now.

From RIS Media

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Point2 Technologies recently released the results from its Real Estate Confidence Index (RECI) survey for the month of April that indicate improved market conditions and forward looking sentiment amongst real estate brokers and agents around the United States, with uncertainty over the longer term weighing in on the Index.

The RECI, a real estate market leading indicator that tracks broker and agent forward looking confidence and market opinion nationwide rose for the second month in a row.

For April 2010, the RECI recorded a 5.82 (+0.87 %) reading on the RECI scale of 1-10 (1 being ‘bad’ and 10 being ‘good’), up from 5.77 in March (+2.49%).

March results were underscored by a jump of 27% in new home sales for that month, as reported by the Commerce Department, and a 6.8% rise in existing home sales, according to the National Association of Realtors’ report.

The Current Sentiment variable within the RECI, one of three components that make up the monthly Index, rose to 5.30 (+5.16%) for the April period. Positive sentiment amongst survey respondents was fueled by improved current market conditions, with increased sales activity in the low to mid price range properties category remaining the common denominator.

RECI survey participants pointed to the looming tax credit expiry on April 30, 2010 as the key driver for increased sales, with more agents in more states including Florida, California and Hawaii reporting multiple offer and bidding war occurrences than the month before. Some sales professionals also cited increased investor activity.

The current federal government program offers home rebates of U.S. $8,000 for new home buyers and US $6,500 for existing home buyers when moving up.

Lack of sufficient inventory in the lower, active price categories in several of the ‘hot’ markets was seen as a key issue that could be inflating prices. A number of respondents indicated that more foreclosure inventory is likely being withheld by the banks and is expected to go on the market in the future, which in turn respondents anticipate will apply renewed downward pressure on prices.

More positive sentiment and feedback were offered in the April survey than in prior months, out of recently challenging markets, including Michigan. “Closed sales up 50% for 1st quarter 2010 vs. 2009 in South West Michigan.” “Prices have flattened out, under 100K market is becoming a seller’s market with multiple offers. Things are looking better than they have for over two years.” “Homes are having multiple offers and at the listing price almost.”

Nevada agents were also more upbeat. “Lots of activity even if prices not moving up. Not moving down either. Existing home sale up significantly.” “Residential real estate is undervalued in Nevada, prompting buyers/investors to be very active.” “We’re seeing record sales in our office and think it will continue.”

Other positive signs include some reporting of more activity in higher price range properties, in several states, a category almost completely bypassed in RECI respondent feedback since the Index debuted last summer.

Notably, uncertainty regarding the market’s prospects following the expiry of the current incentive program was predominant in the April survey and was reflected in both Short Term (3-6 months) and Long Term (12-18 months) broker and agent optimism/pessimism RECI component ratings, with both retreating versus the previous month.

The drops pressured the overall Index, with the prevalent respondent concerns being uncertainty over the market’s reaction following the expiry of the tax credit program; the risk of interest rate hikes; and, pressure anticipated from additional foreclosure inventories.

Key issues also included persistently tight lending practices and slow approvals, both seen as major hurdles to the efficient absorption of REO and foreclosure inventory, and to a sustained market recovery.

The RECI’s Short Term (3-6 months) variable regressed marginally to 5.74 (-0.35%) on the 1-10 scale, and the Long Term (12-18 months) indicator moved back from 6.51 to 6.43 (-1.23%).

Colorado, Georgia, Illinois and Indiana, amongst a number of other markets continued to experience abundant bank owned and foreclosure property inventories, which pressured prices and sentiment in those states.

Copyright© 2010 RISMedia

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business.

Check out Valerie Fitzgerald Beverly Hills Real Estate Listings

The number of foreclosures dropped in October for the third consecutive month, a sign that efforts by banks to take back troubled properties may be easing, according to a report out this morning by RealtyTrac.

The number of foreclosures — default notices, scheduled foreclosure auctions and bank repossessions — was down 3% in October from September, though that number is still 19% higher than in October 2008.

One out of every 385 housing units in the U.S. received a foreclosure filing in October, according to the report. The dip in the number of filings was a positive sign. But James J. Saccacio, chief executive officer of Irvine-based RealtyTrac, said in a statement that the moribund economy and the potential pitfalls facing the housing market could imperil any housing rebound.

“Three consecutive monthly declines is unprecedented for our report, and on first blush an indication that the foreclosure tide may be turning,” he said. “However, the fundamental forces driving foreclosure activity in this housing downturn — high-risk mortgages, negative equity, and unemployment — continue to loom over any nascent recovery.”

Nevada, California and Florida posted the highest foreclosure rates out of all the states. California had the second-highest rate, after Nevada, with one in every 156 housing units receiving a foreclosure filing in October.

A total of 85,420 California properties received a foreclosure filing during the month, a decrease of 1% from the previous month but still nearly 50% above the total reported in October 2008, according to the report.

California’s default notices and scheduled foreclosure auctions were up 120% and 73% respectively from October 2008, when California foreclosure activity was in the midst of a three-month lull after a state law required lenders to give troubled homeowners extra notification before beginning foreclosure.

With financing still tight and so many cheap foreclosure properties on the market, it is no wonder that few people are buying new homes these days. A report by the California Building Industry Assn. confirmed that new-home sales continued to drop in September.

The report shows that sales in new-home communities of 10 units or more were 11% below September 2008, with only 2,310 new homes and condominiums sold, compared to 2,580 in September 2008.

In the Los Angeles-Long Beach-Glendale region 300 new homes were sold in September, a 9% increase from the 273 sold in the same month one year prior.

From L.A. Times, Alejandro Lazo

The Valerie Fitzgerald Group specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author ofHeart and Sold: How to Survive and Build a Recession-Proof Busines

Congratulations to Los Angeles architect Michael Maltzman, who was recently named a finalist for the Smithsonian/Cooper-Hewitt National Design Museum’s 10th annual National Design Awards. Maltzman, whose projects have ranged from MoMA QNS to affordable housing in downtown L.A., is currently working on the new flagship building at Pasadena’s JPL.