Thanks to ZipRealty.com for sending me some interesting statistics from their newly released quarterly report of home prices from their site statistics.  Here are the highlights they provided:

· California is still "hottest" for ZIP codes where homes are selling the most above asking price (i.e. fetching multiple offers)

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I've written a detailed review of Pocket Informant for iPad here, so I'll just give you some bullets and hot buttons for me:

• Syncs with Google Calendar and Toodledo
• All tasks, meetings, and other scheduled items in one place
...

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The FHFA, Federal Housing Finance Administration, announced average contract mortgage rates for June, with the national average for a 30 year fixed loan at 4.91%.  This number has varied between 4.88% and 5.26% in the last 12 months.  These historically low rates for a year or more can lead your customers and clients to take them for granted.  Just get this chart of mortgage rates back to 1980, and give them a copy when they are talking about waiting for lower rates, or complaining about rates over 5%.

The FHFA Home Price Index report is out for the period April to May of this year.  It shows a 0.5% increase in home prices for the national index.  Seven of the nine census divisions showed increases, with only the East North Central (Michigan, Wisconsin, Illinois, Indiana, Ohio) and East South Central (Kentucky, Tennessee, Mississippi, Alabama) census divisions showing declines.

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I haven't had this happen to me in my market, but perhaps some of you could comment here if you have.  Fannie Mae says that lenders have been arbitrarily chopping valuations from appraisers when they get a lower result from computerized systems.

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I recently tried unsuccessfully to get some information on the Zillow Agent Premier service.  Please take this link to a User Review and tell us all about any agent or broker advertising services...

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A new app I just downloaded for my iPad is called Metes and Bounds.  I decided to test it the minute it opened with a current deal and entered 25 calls from the legal description to draw the plat.  And, to my great surprise, the lines didn't close at the Point of Beginning, a problem.  There was a gap.<p>

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Congress has passed the bill to extend the tax credit closing deadline to September 30 so that almost 180,000 home buyers do not automatically lose their credit.

The Flood Insurance Program extension to cover the lapse period from June 1st has also been passed.

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Jingle Mail, the walking away from a mortgage by those who can afford to pay, is also known as "strategic default."  The trend has been growing, as homes fall farther below mortgage balances in value.  It's a concern to the mortgage industry and the government as well.

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