PRESS RELEASE

Keller Williams Realty to Launch eEdge, the Real Estate Industry’s 

First Comprehensive Agent Business Platform. - Seamless Solution Available to Network of More Than 80,000 Associates in February

AUSTIN, TEXAS – Keller Williams Realty announced  today that it will launch the real estate industry’s first complete lead-to-close business solution for every agent in the company, eEdge. The first phase of eEdge, voted on and ratified by the company’s Associate Leadership Councils, will officially launch at the company’s annual convention in February 2011.

While many agents spend their day logging into several different systems to manage their business, eEdge will be the first fully-integrated front and back-end platform for real estate professionals. This single platform will enable agents to:

• Funnel and maintain all their contacts, leads and clients into one database

• Create, print and send custom marketing and sales material
• Manage their Web site and their listings
• Facilitate and complete their transactions paperlessly, with an online portal for clients and co-op agents

“Keller Williams is determined to stay ahead of the curve to provide the most services and  support in the industry to our entire network – especially in today’s real estate climate," said Mark Willis, CEO of Keller Williams Realty. “This is just the latest demonstration of our commitment to helping our agents accelerate their leadership internationally as well as in their local markets."

The company has partnered with industry leaders, Market Leader and DotLoop to provide components of eEdge. Market Leader will provide the lead management, contact management and marketing design solution, while DotLoop will provide the seamless platform for sending, signing and managing documents online. Keller Williams Realty will be providing the central platform that allows for a single point of entry and seamless information sharing between each component of product. 

“The launch of the eEdge platform represents a major milestone in the real estate industry and we at Market Leader are proud of our role in helping create this innovative platform for every Keller Williams associate," said Ian Morris, CEO of Market Leader. 

"The current process of taking a client through the lifecycle of a transaction is inefficient and cumbersome. The platform we are partnering with Keller Williams to provide to its associates will accelerate this process and improve the overall experience of buying and selling a home," said Austin Allison, co-founder and CEO of DotLoop. “Essentially, we have aligned the business needs of agents and the expectations of their clients by providing a win-win for all parties involved, including the agent on the other side of the transaction."

The eEdge product was originally masterminded by the company’s Agent Technology Council, or ATC, a leadership committee made up of top-producing, technology-minded associates. In order to ensure that eEdge was the right product at the right time, the company then conducted a North American-wide company vote among its Associate Leadership Councils, a decision-making body of agents that exists in every office and guides the strategic direction of the company and its initiatives.

“eEdge will do everything except make calls for you," said Mary Tennant, president and COO of Keller Williams Realty. “It’s designed to help our agents’ businesses run more smoothly so that they can do what they do best – provide the highest level of service to their buyers and sellers."

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About Keller Williams Realty, Inc.:

Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 690 offices and more than 80,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale visit BrokerDuo online at (www.BrokerDuo.com). 

Happy Groundhogs Day!!! Warm Weather Ahead!!!

"The sky is clear. Prepare for warmth!" With those rousing words Wednesday morning, the world's most famous groundhog, Punxsutawney Phil, offered a ray of hope to millions of Americans being buffeted by a monster winter storm. (See Groundhog Day pictures.)

By seeing no shadow as he emerged from his ceremonial burrow in Punxsutawney, Pennsylvania, on Groundhog Day 2011, Phil, according to tradition, is said to have predicted an early spring.

"Groundhog Day is a lot like a rock concert, but the people are better behaved and there's a groundhog involved," Tom Chapin, editor of the Punxsutawney Spirit newspaper, told National Geographic News last Groundhog Day eve.

"There's music and entertainment, spoofs of game shows, and people shooting t-shirts and Beanie Babies" into the crowd, he said.

Legend has it that if Punxsutawney Phil emerges from his temporary burrow—a simulated tree stump at the rural site of Gobbler's Knob—on February 2 and sees his shadow, winter weather will continue for six more weeks across theUnited States. But if Phil doesn't see his shadow, then spring temperatures are just around the corner.

Regardless of the weather prediction, on Groundhog Day, Phil "speaks" to his human caretakers, known as the Inner Circle, in Groundhogese and tells them his forecast. The Inner Circle then translates Phil's words for the world to hear—or so they say. (Related: "Groundhog Sees More Winter Ahead" [2006].)

On Groundhog Day 2011, "immortal" Punxsutawney Phil—supposedly born no later than the 19th century—got his message out in some decidedly 21st-century ways, by texting his forecast (to sign up, text "groundhog" to 247365) and, of course, updating his Facebook status and the Pennsylvania-tourismTwitter feed.

National Geographic News

Updated February 2, 2011

http://news.nationalgeographic.com/news/2011/02/110201-groundhog-day-2011-punxsutawney-phil-weeks-winter-us-weather-anniversary/

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By Julie Schmit, USA TODAY

The housing industry is poised to gain strength this year after coming off one of its worst years ever in 2010, economic forecasts and new data released Wednesday show.

One cause for optimism: Building permits for new single-family homes rose 5.5% last month, the third consecutive monthly increase and the strongest showing since March, the Commerce Department said.

That sets the stage for more home construction later this year as the economy improves, says Celia Chen, economist at Moody's Analytics.

"The trend is up," Chen says.

But it'll be a slow slog. The previous two years have been the worst on record for home builders in at least 50 years. Nationwide, home prices are down almost 30% from their 2006 peak. A new USA TODAY survey of 44 top economists finds that 48% say average home prices won't hit bottom until sometime this year, and 27% say it'll take longer.

The housing market recovery "will be two baby steps forward and one backward," says Joel Naroff, chief economist at Naroff Economic Advisors.

The theme of slow improvement is likely to be repeated in December's existing home sales data, to be reported today. A small gain is expected over November, says IHS Global Insight economist Patrick Newport.

He also says that December's permit numbers indicate that housing construction "may be set to grow again." But some of December's jump may have been driven by builders trying to get permits ahead of 2011 building code changes in California, New York and Pennsylvania, the Commerce Department said.

Newport also cautions that home-building numbers "are still really awful." Housing starts, for example, fell 4.3% in December as cold weather and snow delayed construction. But Newport says other factors will continue to depress housing starts.

Those include low prices on foreclosed homes, which makes it hard for builders to turn profits on new homes, and tight financing for home builders and buyers. What's more, the recession sharply reduced the rate of household formation, which means that more families are doubling up in homes vs. each getting their own, Newport says.

Moody's doesn't see home construction getting back to more historically normal levels until at least 2012, Chen says. USA TODAY's economist survey indicates that 669,000 new home starts are likely this year, up 15% from 2010.

The key is job creation, says Lawrence Yun, chief economist with the National Association of Realtors. When more people are working, and earning higher incomes, home buying increases. IHS expects the economy to add 2.5 million jobs this year and 2.7 million next year.

"The (housing) market appears to have hit bottom, and now we're trying to get back to normal," Yun says.

 http://www.usatoday.com/money/economy/housing/2011-01-19-housing-starts_N.htm

FHA extends suspension of 'anti-flipping' rule for another year

The rule was intended to prevent speculators from defrauding the government, but it also stifled the purchase and renovation of foreclosed homes by legitimate investors.

This left large numbers of foreclosed, vacant houses sitting unsold and deteriorating, with negative effects on the values of neighboring properties.

Last January, FHA Commissioner David H. Stevens announced a one-year suspension of that rule, permitting qualified buyers to obtain FHA mortgages on properties that were acquired by rehabbers less than 90 days before. The plan, set to expire at the end of this month, came with safeguards for purchasers, including inspections and multiple appraisals in some cases to document the amounts spent by investors on the improvements.

Vicki Bott, deputy assistant secretary for single-family housing at the FHA, confirmed in an interview that the agency expects to continue the policy for another year. Not only have first-time buyers responded overwhelmingly to the opportunity to buy "turnkey" renovated homes with low down payments, she said, but they have performed well on their mortgage obligations.

"Obviously we have concerns about flipping in general," Bott said, but the FHA has seen none of the fraud problems, defaults and re-foreclosures that cost the agency millions in insurance payouts in earlier years.

Investor Paul Wylie, who with a group of partners and contractors specializes in acquiring, renovating and reselling foreclosed and distressed houses in the Los Angeles area, says the government's policy "has been a very positive approach" because "it recognizes the role that [private investors] can play in helping the housing market get back on its feet."

In the L.A. market, Wylie said, FHA financing accounts for 40% of all home purchases and 60% of purchases in predominantly Latino and African American communities.

Buying foreclosed houses "comes with a lot of risk factors," Wylie said. "There's no title insurance. We don't have a good idea of the extent of the defects" inside properties that have been sitting vacant or vandalized for months. Some houses come with delinquent property taxes, which Wylie's group typically must pay.

Then again, the profit opportunities can be significant as well. Most of the Wylie group's houses sell for more than 20% higher prices than Wylie paid at acquisition — a quick turnaround gain that potentially works for buyers, sellers, neighborhoods and, yes, the FHA itself.

http://articles.latimes.com/2011/jan/16/business/la-fi-harney-20110116

News Release

FOR IMMEDIATE RELEASE

CONTACT: Amber Presley

512/327-3070   amber.presley@kw.com

Keller Williams Realty Signs Deal with CitiMortgageto Provide Unique Money-Saving Benefits to Consumers

AUSTIN, TEXAS (January 24, 2010)–Keller Williams Realty, Inc. announced today that it has entered into an agreement with CitiMortgage to create a customized mortgage services program for the company’s offices across the United States. This type of agreement is the first of its kind for Keller Williams Realty and CitiMortgage.CitiMortgage will now offer Keller Williams Realty clients reduced fees on jumbo loans, and as a part of the SureStart Pre-Approval® program, will not charge a pre-approval fee for Keller Williams agent’s buyers. As a part of CitiMortgage’s commitment to exceptional service, they also offer all Keller Williams borrowers an On Time Closing Guarantee of $1,500. “Our goal is to ensure that our associates have access to the best resources possible so they can focus on their main priority-their client. We are confident that with fivemillion mortgage customers, CitiMortgage has the experience and expertise to support our Market Centers and associates at the highest level possible,” said Anthony Azar, director of strategic business alliances at Keller Williams Realty. CitiMortgage will also support Keller Williams Realty in its efforts to help associates win more business. In addition, Market Centers will have the opportunity for an in-house mortgage representative, as well as a dedicated support and fulfillment team for Keller Williams associates and their clients. “CitiMortgage was looking for a national realtor partner and after reviewing Keller Williams business model and culture, we realized this was a perfect fit for both companies,” said Fred Bolstad, managing director of National Sales for CitiMortgage. “CitiMortgage can provide the strong training and tools their agents need to succeed. Our service-oriented national lending platform can help their customers realize the dream of home ownership in a more efficient and effective way.” 

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About CitiMortgage: CitiMortgage is headquartered in St. Louis and is a division of Citigroup. Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com. 

About Keller Williams Realty, Inc.:Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 690 offices and more than 80,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale visit Keller Williams Realty online at (www.kw.com).

http://www.kw.com/kw/pressrelease.html?pressReleaseId=161

www.OregonLive.com

Home > Portland News > Breaking News

How Corvallis exceeds New York City: A view from theoretical physics

People in big cities do just about everything faster: walk and talk, create and invent, earn and spend, steal and murder. These speed increases are proving surprisingly predictable. As a city’s population grows, its residents’ collective actions and behaviors accelerate in a common pattern that can be described by the same mathematical formula.

Scientists at Los Alamos National Laboratory and the Santa Fe Institute in New Mexico, who worked out the math, draw some counter-intuitive conclusions: none other than Corvallis stands out as the top city in the country for innovation — after you account for its size. New York is merely average. Portland is a bit above the mean but not outstanding.... for the complete article click the link below.  

http://www.oregonlive.com/portland/index.ssf/2011/01/how_corvallis_ore_exceeds_new.html

Buyers have the edge!

According to Lawrence Yun, chief economist from the National Association of REALTORS®, “Home buyers over the past year got agreat deal, and buyers for the balance of this year have an edge oversellers. Affordability could reach a generational high in the secondhalf of this year because of rock-bottom mortgage interest rates,helped partly by the Fed’s very accommodative monetary policy.”

For more reasons why now is prime time to buy a home, contact me and I’ll send you a free ebook.

Factoid: The average new home sold in the Willamette Valleyis a 3 bedroom, 2 bath with 1,791 square feet plus a 2 car garage. The average cost per square foot for a new home is$131.00 including a 7,000 square foot lot.

Source: Willamette Valley MLS