24 Jul 08 NAR Trying to Destroy Patent Holder?
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According to Robert Freedman – reportedly one of the most successful real estate agents in the United States and NAR member – the National Association of Realtors has spent millions of dollars, from member’s dues, fighting allegations that they have unlawfully used a patented mapping method for locating real estate online.
Real Estate Alliance Ltd. (REAL) – owner of the patent, and Mark Tornetta – inventor of the patent, have recently settled patent infringement claims against Freedman, who is one of 35 defendants that includes the NAR, in a lawsuit brought by REAL in Los Angeles federal court earlier in the year. REAL claims that the NAR’s official website – Realtor.com, used the patented zooming-mapping methods without their permission.
In an open letter to the members of the NAR, Freedman has implied that the NAR has made a serious mistake and that the million plus real estate agents that are members of the NAR have been disserved. According to Freedman, when the NAR set up Realtor.com with HomeStore, in the late 1990s, the NAR intentionally disregarded the patents and simply used the technology without permission.
Freedman claims that because his listings, along with the majority of members’ listings, found their way to Realtor.com by way of their MLS is why he has been named in the lawsuit. “That is why I was sued by the patent holder. I was sued individually and as a representative of a claimed class of all agents who have used the zooming methodology,” said Freedman.
Freedman chose to pay the patent holder a measure of compensation for his use of the technologies over the past several years. Freedman stated, “I am disappointed that NAR would use my listings in ways that were potentially infringing on someone’s patents without at least letting its members know that there was a possible issue looming that could cause its members harm.”
Freedman is demanding reimbursement from the NAR for the amount that he has settled with Tornetta and REAL. In his letter to NAR members, Freedman urges the NAR to pay what they rightfully owe and to cease their attempts at destroying the inventor by trying to “spend him to death”.
Freedman’s letter along with the official patent documents and legal complaints can be viewed at www.real989.com.
Tags: homestore, los angeles, mark tornetta, NAR, national association of realtors, real, real estate agents, real estate alliance ltd., real989.com, realtor.com, robert freedman, zooming mapping technology
14 Jul 08 Location Still Matters the Most
“Price conditions vary tremendously, even within a locality, depending upon a neighborhood’s exposure to subprime loans,” said Lawrence Yun, National Association of Realtors chief economist. Yun also noted that while most markets are experiencing a significant reduction in contract signing from the previous year, others have seen a doubling in home sales.
The NAR is predicting a recovery in sales in the second half of the year based on the Pending Home Sales Index (PHSI). The forward-looking indicator is derived from contracts signed in May, which decreased 4.7 percent to 84.7 from a revised reading of 88.9 in April. In May of 2007, the index stood 14 points higher at 98.5 percent, than in May 2008.
Yun warns that a sharp increase in pending home sales will likely have some pullback in the following month. Yun also stated, “The overall decline in contract signings suggests that we are not out of the woods by any means.”
Existing home sales are expected to grow from the second quarter figures annual pace of 5.01 million, to 5.75 million in the fourth quarter of the year, according to the NAR. The expected total existing home sales for all of 2008 is 5.31 million, and an increase of 5 percent, to 5.58 million, is expected for 2009.
New home sales nationwide are likely going to fall to 525,000 in 2008, a decrease of 32.3 percent from 2007, and decline to 507,000 in 2009, dropping another 3.4 percent. Housing starts are also expected to decrease 28.7 percent to 966,000 throughout 2008, and another 9 percent to 879,000 in 2009.
Tags: existing home sales, home sales, housing starts, lawrence yun, locality, NAR, national association of realtors, new home sales, pending home sales index, phsi, price conditions, subprime loans, yun
09 Jul 08 Thinking About Remodeling Your Existing Home?
For some, declining home values has many homeowners seeking to remodel rather than sell. As recent reports from the National Association of Realtors have stated, pending home sales are down and in most major real estate markets, so too are home values. It is for this very reason that many homeowners are inclined to sit on their home and are willing to ride out the housing slump in hopes of regaining some of their home’s value in the future.
The Home Improvement Research Institute (HIRI) has estimated that homeowners will spend in excess of $302 billion on remodeling and other home improvement projects in 2008. This is a slight decline in home improvement spending from 2007, when homeowners spent $306.7 billion on remodeling projects.
Finding a trustworthy contractor is often a concern for those wishing to conduct major remodeling jobs. My advice for those homeowners is to consult the Better Business Bureau (BBB). The BBB’s Reliability Report is designed to help protect consumers from being taken advantage of. This service allows you to either enter in the business name or the type of business you are seeking, e.g. contractor, plumber, real estate agent, etc., which will then provide you with a list of businesses to choose from. Another great resource offered by the BBB is their Accredited Business listings, where users can also search by business name, type of business, and even the product offered.
A few things to remember when hiring a contractor is to hire one that is a member of a professional association, never pay for the entire job upfront, and check out the company’s references. Speaking to past customers can sometimes be the best way to feel out your new contractor.
Tags: bbb, bbb reliability report, better business bureau, contractor, hiri, home improvement research institute, home values, housing slump, NAR, national association of realtors, remodeling
