Real Estate Sifter

RISMEDIA, September 3, 2010—(MCT)—For anyone under the age of 57, mortgage rates are now the lowest they’ve been during your life. This fact isn’t lost on a growing number of homeowners who have started a new wave of refinancings.

The Mortgage Bankers Association reported this month that refinancing applications are up 26% during the past four weeks and account for about 82% of all mortgage applications. Not since May 2009 has the volume of refinancing applications been higher.

“We are extremely busy, and it feels good,” said Charles DiPino, Jr., a senior vice president at New Penn Financial, a mortgage banker in Columbia, Md. “The phones are ringing off the hook.”

The calls started coming during the past month or so as rates continued to drop week after week. Mortgage giant Freddie Mac last week reported the average 30-year fixed-rate loan dropped to an average of 4.36%, a rate not seen since March 1953. (Harry S. Truman was president then, and the Academy Awards was shown on TV for the first time.)

Meanwhile, the 15-year fixed-rate mortgage hit a record low of 3.86% last week; while a one-year adjustable-rate mortgage averaged 3.52%, more than a percentage point lower than a year ago, according to Freddie Mac.

“Rates continue to hit new lows because of the weak U.S. economic recovery and the concern that it could fizzle altogether,” said Greg McBride, senior financial analyst with Bankrate.com.

But McBride and others advise against waiting to refinance in hopes that rates will fall further. If they do keep falling, that means the economy is getting even more anemic.

“You can win the battle and lose the war,” McBride said. “You might lose your job and not qualify for the lower rate.”

Refinancing to a lower rate, of course, can reduce your monthly payment. But some homeowners are refinancing to shorten the term of their loan, particularly baby boomers who don’t want this debt hanging over them in retirement, McBride said. And some want to trade in the uncertainty of an adjustable-rate mortgage for the dependability of a fixed-rate loan, he says.

Amy Crews Cutts, Freddie Mac’s deputy chief economist, said despite the uptick in refinancing applications, the numbers still aren’t as high as they should be, given the record-low rates.

Homeowners could be having difficulty qualifying, Cutts said. It could be their creditworthiness has deteriorated. Or their income dropped because of a loss of overtime or they were forced to take a new job that pays less, she says.

So who can qualify for these great rates?

“We’re still in a very tight credit market,” DiPino said. Homeowners with credit scores of 660 or 680 can qualify for refinancing, but the best rates are reserved for those with scores above 700, he says.

Also, generally if you don’t have a certain amount of equity in your home—20% for the very best rates—you might have to pony up more cash to get a new loan, McBride said. Homeowners’ equity has fallen along with a drop in home prices or because they took money out of their house the last time they refinanced, he says.

Some homeowners, though, won’t need that much equity in their homes to get super-low rates if they qualify for a streamlined refinancing program for loans owned by Freddie Mac or Fannie Mae, said DiPino, the mortgage banker. The program, which requires passing a credit check, is designed for those seeking a lower monthly payment, he says. In other words, you can’t refinance to tap the equity in your home.

Of course, there are other factors to consider, such as how long you’ll remain in the house before determining whether refinancing is for you. But with rates these low, it’s worth taking a look.

Should you refinance?
Mortgage rates hitting the lowest levels in decades have caused a rush of refinancing. Check out calculators at Bankrate.com to see if refinancing is worthwhile. The refinance calculator can tell you how much you’ll save and how long you must live in the house to recoup refinancing costs. The FICO score estimator will give you an idea of your credit score. To qualify for the best terms, you’ll need a score in the 700s.

(c) 2010, The Baltimore Sun.

Distributed by McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

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RISMEDIA, September 3, 2010—Following a sharp drop in the months immediately after the expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors.

The Pending Home Sales Index, a forward-looking indicator, rose 5.2% to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1% below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, cautioned that there would be a long recovery process. “Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” he said. “But the recovery looks to be a long process. Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

Yun added, “Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.”

The PHSI in the Northeast rose 6.3% to 62.5 in July but is 21.1% below a year ago. In the Midwest the index increased 4.1% to 66.7 but remains 25.7% below July 2009. Pending home sales in the South rose 1.2% to an index of 86.3, but are 15.6% lower than a year ago. In the West the index jumped 11.6% to 95.0 but is 17.6% below July 2009.

The national index had fallen 29.9% in May and another 2.8% in June.

For more information, visit www.realtor.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, September 3, 2010—The Élan Collection, a collection of luxury fractional private residences has commenced priority sales reservations for shared ownership opportunities in a contemporary 4,800 square-foot urban penthouse in downtown San Diego.

Envisioned as a modern pied-à-terre, the Harbor View West penthouse occupies the entire 37th floor of the Harbor Club’s elegant West tower, offering 360-degree wrap-around ocean views. Harbor View West features three bedrooms with en suite baths, a den with adjoining terrace, two offices and a master suite with a terrace for enjoying harbor sunsets.

The penthouse was designed for cosmopolitan entertaining: a dramatic circular glass space combines the living room, large dining area and full wet bar. High-tech touches include a Lutron lighting system, motorized blinds, built-in sound system, whole house water filtration, whole house vacuum, as well as individual room controls for heat, air, sound and blinds—which all operate with the touch of a button. Beyond the penthouse itself, the property offers two private terraces, four parking spaces and a private utility room off the entrance lobby. Owners of Harbor View West will also have full access to Harbor Club amenities, including a 24-hour lobby attendant, concierge, fitness room, sauna, a 95- foot swimming pool, bike storage and an outdoor cabana with kitchen.

Only 10 shared interest deeded ownership opportunities will be offered at Harbor View West. Priority sales reservation pricing starts at $799,000 per deeded interest, but only on a limited basis.

For more information, visit http://www.elanprc.com/component/option,com_residences/Itemid,66/id,18/lang,en/view,overview/.

To submit your Featured Listing, send 300-500 words on the property, surrounding area, and how you’re marketing it to Paige@RISMedia.com. Don’t forget to submit photos and an accompanying URL!

To see last week’s Featured Listing, click here.

RISMEDIA, September 3, 2010—(MCT)—Some rooms scream “Help!” Others say nothing, and that’s a problem, too. Take the typical bedroom. Michael Payne has seen thousands. “The bedroom tends to get forgotten—you spend all your money elsewhere in the house,” said Payne, a celebrity interior designer and makeover specialist best known for his “Designing For The Sexes” series on HGTV. “You end up with a totally forgettable room that you don’t want your best friend to see.”

Helping people find indoor harmony—particularly at affordable prices—is a common challenge for designers. Instead of moving, homeowners are staying put and trying to make the most of their current house.

“This has been the busiest year I’ve ever had,” said Folsom, Calif., interior designer Jennifer FaGalde. “Absolutely, a lot of people are wanting to stay put and put money into their own home instead of moving. They’re creating a nest within their own space,” she added. “People are staying home more now than they did five, 10 years ago. They want a sanctuary where they can relax.”

But where should you start if you are looking to refurbish your home?

Paint, lighting and flooring are three of the easiest, quickest and least expensive ways to update a room, say the experts.

Arizona Tile’s in-house designer Emitt Isaacks advises people to start makeovers with a very basic question: Who lives in your home?

“A retired couple is very different than a family with young kids. They have different needs and considerations,” he said. “Don’t forget dogs and cats either, as pets influence design decisions, too. Then, start thinking about style—modern, traditional, old-school—and color.”

FaGalde points to two recent makeovers she completed in Sacramento, Calif. A typical home in the Pocket area needed a radical update for its kitchen and three bathrooms. A Land Park house started with a termite invasion and ended up with a remodeled family/living/dining room.

“The Pocket house was a real challenge,” she said. “The bathrooms all had walls separating the toilet area. They had a closed-in feeling, the style of homes 25 years ago. And the rooms were so dark.”

The answer: “We knocked down walls, gutted to zero and started from scratch,” she said. “We added new lighting. It made a huge difference.”

In the aftermath of fixing termite damage, the Land Park homeowners started with paint and flooring, but then decided to update with new window coverings, crown molding and fireplace tile.

“It really transformed the space,” FaGalde said.

Lighting is key, “especially in older homes,” she added. “Lighting enhances your space and shows off the investment you put into it. You spend money on paint and flooring, you want to be able to see it.”

Quick bedroom makeover:
Makeover specialist Michael Payne offers these suggestions:
1. Less is more. An uncluttered bedroom makes for a more restful space. Make use of the area under the bed for storage.
2. Remember: It’s a bedroom. The bed should be the dominant feature. Other furnishings are secondary, but look better if they match in style, wood and stain.
3. Start with the right bedspread or comforter. Use that to pick up colors for paint and carpeting. The result will be more harmonious.

(c) 2010, The Sacramento Bee (Sacramento, Calif.).

Distributed by McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

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RISMEDIA, September 3, 2010—U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced an unprecedented agreement with the nation’s top mortgage lenders to offer selected state and local governments, and nonprofit organizations a “first look” or right of first refusal to purchase foreclosed homes before making these properties available to private investors.

The National First Look Program is a first-ever public-private partnership agreement between HUD and the National Community Stabilization Trust (Stabilization Trust). In collaboration with national servicers, Fannie Mae and Freddie Mac, the First Look program is intended to give communities participating in HUD’s Neighborhood Stabilization Program (NSP) a brief exclusive opportunity to purchase bank-owned properties in certain neighborhoods so these homes can either be rehabilitated, rented, resold or demolished.

“This groundbreaking agreement will help rebuild neighborhoods that have been struggling with blight and declining home values due to foreclosures,” said HUD Secretary Shaun Donovan. “Local communities will now get an exclusive option to buy foreclosed properties in targeted neighborhoods so they can turn the homes into affordable housing or, in some cases, tear them down. This agreement helps us level the playing field to give communities a better chance to stabilize these neighborhoods.”

“The Stabilization Trust is delighted to be working with HUD Secretary Donovan on the National First Look Program,” said Craig Nickerson, president of the NCST. “By serving as the operations ‘engine’ behind the First Look Program, the Stabilization Trust can facilitate the transfer of more foreclosed property for participating financial institutions to local community buyers, thereby accelerating the road to neighborhood recovery.”

HUD’s NSP grantees, which include state and local governments and non-profit organizations, often find themselves competing with private investors for real estate-owned (REO) properties, which can hinder their efforts to stabilize neighborhoods with high foreclosure activity. With today’s announcement, HUD and the Stabilization Trust, working with national servicers, Fannie Mae and Freddie Mac, will standardize the acquisition process for NSP grantees, giving them an exclusive option to purchase foreclosed upon homes in certain targeted neighborhoods.

The Stabilization Trust pioneered the ‘First Look’ model to create a transparent and streamlined process to facilitate the transfer of foreclosed and abandoned properties from key financial institutions to local government housing providers. First piloted in 2008, the model has gained recognition as a critical tool for positively tipping the scale in neighborhoods hard hit by foreclosures. NSP grantees will also be aided by REOMatch, a Web-based mapping and acquisition management tool developed by the Stabilization Trust. REOMatch will assist NSP grantees to easily identify REO properties and make more strategic decisions about which properties to acquire, based on real-time data on an interactive mapping platform.

The nation’s leading financial institutions are participating in the National First Look Program, representing approximately 75% of the REO marketplace. Participating institutions include: Bank of America, Chase, Citi, Deutsche Bank, GMAC, Nationstar Mortgage, Ocwen Financial Corporation, Saxon Mortgage Services, U.S. Bank, Wells Fargo, Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA).

The National First Look Program will allow NSP grantees the exclusive opportunity to purchase available REO properties located within the defined boundaries of NSP target areas. NSP grantees will be immediately notified when a property becomes available and will have 24-48 hours to express interest in pursuing a specific property. Furthermore, these institutions will provide NSP purchasers with the opportunity to purchase REO properties at a discount of their appraised value, reflecting the cost savings of a quick sale. NSP grantees may acquire these properties with the assistance of NSP funds for any eligible use.

After expressing interest in a property, the First Look Period will last approximately five to 12 business days during which the NSP Grantee will conduct inspections and establish costs to repair in anticipation of the financial institution’s price offer. In the event that no NSP grantee exercises its preference to purchase an REO property during the First Look period, the financial institution will follow its normal process to sell the home on the open market.

Currently, the Federal Housing Administration (FHA) offers a complementary pilot program in which NSP grantees receive an exclusive option to purchase so-called ‘HUD Homes’ at a discount prior to those homes being made available to the investor community. The FHA pilot, alongside today’s agreement expands the opportunity for NSP grantees to gain access to REO properties through a national first-look standard option.

For more information, visit www.hud.gov.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

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RISMEDIA, September 3, 2010—The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 27, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2.3% compared with the previous week.

The Refinance Index increased 2.8% from the previous week and is at its highest level since May 1, 2009. The seasonally adjusted Purchase Index increased 1.8% from one week earlier. The unadjusted Purchase Index decreased 0.4% compared with the previous week and was 37.0% lower than the same week one year ago.

“Refinancing activity picked up again last week, reaching new 15-month highs, as borrowers took advantage of even lower mortgage rates. The drop in mortgage rates was in line with Treasury rates as the latest data continue to show weak economic growth and an exceptionally weak housing market,” said Michael Fratantoni, MBA’s vice president of Research and Economics. “The sharp decline in MBA’s Purchase Application index in May had provided a clear leading indicator of the drops in new and existing home sales that were reported for June and July. Despite the slight increase in purchase activity in the past week, the continued low level of purchase applications indicates we are unlikely to see an increase in new home sales reported for August or existing home sales reported for September.”

The four week moving average for the seasonally adjusted Market Index is up 5.2%. The four week moving average is down 0.2% for the seasonally adjusted Purchase Index, while this average is up 6.3% for the Refinance Index.

The refinance share of mortgage activity increased to 82.9% of total applications from 82.4% the previous week and is the highest refinance share observed since January 2009. The adjustable-rate mortgage (ARM) share of activity increased to 6.1% from 5.8% of total applications from the previous week.

The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.43% from 4.55%, with points increasing to 1.34 from 0.89 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The contract rate is a new low for this survey. The effective rate also decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.88% from 3.91%, with points decreasing to 1.45 from 1.64 (including the origination fee) for 80 percent LTV loans. The contract rate is a new low for this survey. The effective rate also decreased from last week.

The average contract interest rate for one-year ARMs increased to 6.95% from 6.84%, with points increasing to 0.23 from 0.22 (including the origination fee) for 80 percent LTV loans.

For more information, visit www.mortgagebankers.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, September 3, 2010—Measuring the success of your marketing efforts is always critical, but some media is built to be measured in the short term, while others are more structured for brand building, to be measured long term.

This is the case with social media. It is being utilized successfully today to augment the building of powerful brands of any size. The effect of regular, brand-building posts and interaction can create more transparency between you and your potential clients, and give them a feel for what you are all about. One of the beauties of this media is that you can use it to help build a local business brand or an international one.

When used properly, social media will accelerate the buying process, the speed at which you can go from awareness to sale. However, it’s more difficult to track and measure this type of benefit on your own. One way is to watch where new referrals are coming from. You may find a pattern of more referrals from those you engage with on social media.

There are tools you can enable in social media now to measure initiatives, such as recruitment and tracking links you can create between platforms, which can be helpful depending upon what you want to achieve. And remember, social media is a great research tool, too. This alone is extremely valuable to growing your business.

Keep in mind that timeless marketing rules also apply to social media. One in particular is, good media always works; it’s your campaign that failed. What can fail? Your message, delivery, frequency or follow up, and finally expecting an outcome from the media that it wasn’t designed to deliver. Social media is not free, so treat it like other media you use. It is a time commitment, and you only get out of it what you put into it.

Are you using social media too much, not enough, sending inconsistent messaging? If so, re-think your goals, strategy and the time you spend on it. Do more listening than participating to learn from those who are successful. Then, once you’ve learned how to manage this media to your benefit, your participation shouldn’t have to be exhaustive to build your brand. Finally, set expectations that make sense for the media and you.

Chris Kaucnik is marketing director for Home Warranty of America, Inc.

For more information, visit www.hwahomewarranty.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

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RISMEDIA, September 1, 2010—E-mail marketing lists are a necessity in any real estate market for industry professionals who are serious about getting their name and message in front of as many people as possible. While building an e-mail marketing contact list will take some time and dedication on your part, the following techniques provided by Melanie Attia, product marketing manager for Campaigner will help you create a list in no time.

Do’s

1. Leverage marketing programs you already have
No one can opt in if they don’t know you have valuable information to share, so don’t forget to:
- Include a line in your email that links to the sign-up page on your website whenever you purchase or rent an email list for a campaign.
- Lead back to your website from listings you have on partner or affiliate sites.
- Bring a computer to tradeshows and ask anyone who visits your booth to sign-up for your emails.
- Keep sign-up cards by your local store’s register.
- Refer listeners to your website in your radio ads.

2. Make it easy to opt in
Once people are on your site, make it as easy as possible to opt in by having a very visible link on the home page, or other webpage(s). Signing up should take as little time as possible, so don’t ask for too much information at this point.

3. Know your target audience
When someone opts in, ask only a few questions, like company name, industry, or location. You can also include a survey in your emails to gauge interest. Understand where people are coming from so you can make adjustments in future communications or promotions. One of the best resources for helping you expand your opt in list is your existing opt in list, so be sure to take advantage of it.

4. Consider the 4 C’s
Clear. Concise. Compelling. Customer-centric. When you write an email, put yourself in the reader’s shoes and ask, “Why shouldn’t I hit the delete key right now?” Your readers are not opting in because they want to hear a sales pitch. They have a need—to save time, money, or effort, and of course to improve productivity and success. Your message must be compelling enough to convince people to sign up, valuable enough to keep them wanting more and useful enough to pass along.

5. Pass it on
“Word-of-mouth” works in the online world too, it’s called “viral marketing.” A good message will be passed along. Your next job is to make it easy to forward your email to others, who will forward it to others, and so on. If the people it’s forwarded to like what they see, they will opt in too, so include forward or subscribe instructions like a one-click “forward” link in every email you send.

Don’ts

1. Offer fabulous prizes for signing up
While this might seem like a good idea, you’ll end up with subscribers who want to win a prize, not learn useful information about your company and/or products. The prize should be the useful information you provide, so offer a newsletter, a free seminar, or more information about your products and services.

2. Deluge your subscribers with too many emails
How much is too much? It depends on your message, so set expectations. Let people know what they’re in for before they hit the ‘submit’ button. After they’ve had time to digest the information, ask a sample from your list what is the ‘right’ number of emails; they’ll let you know. Otherwise you’ll find out the hard way with an unsubscribe request.

3. Be everything to everyone
Your sign-up messaging, as well as the information in all of your emails should be focused and hit a nerve. Don’t be afraid to address audience’s needs one at a time. Hit the crucial ones first, and save the rest for later to keep them on your list and wanting more. If you’re too generic, in hopes of getting more people to opt in, you’ll end up being “nothing to everyone.”

4. Spend too much money acquiring names
An opt in list is a valuable asset and that means an investment on your part to build and maintain it. Be sure to budget appropriately and ahead of time, find the most cost-effective ways for reaching your target audience and know how much each name will cost. Keep in mind potential revenue, and lifetime value of each customer, and chose accordingly.

5. Live in a vacuum
Continually view, read and explore how other companies or organizations—from competitors and partners, to businesses in completely different industries—build their opt in lists. Most will use the same tried-and-true techniques, but you’ll spot an occasional guerilla tactic that will inspire you to try something new—it just might work for you too.

Melanie Attia is the product marketing manager for Campaigner.

For more information, visit www.campaigner.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

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RISMEDIA, September 2, 2010—Is the REO market winding down? And is it too late to get into the market, if you’re not already getting listings? REO experts Michael Krein, the president of the National REO Brokers Association; Gary Acosta, chairman of New Vista Asset Management; Bubba Mills, an REO trainer; and Juan Martinez, a leading REO listing broker in Las Vegas will offer their insights on what opportunities exist today for brokers on the September 7 broadcast of NAHREP Talk Radio. The show is broadcast live at 11 a.m. to 12 noon CST at: http://www.blogtalkradio.com/nahrep. Questions from listeners are welcomed during the show at 718-664-9178.

Some analysts predict that there could be as many as 3.8 million properties that receive a foreclosure this year, though some REO brokers report that business is down. “What’s the real story? Is it too late in the game for brokers to get REO listings?” said NAHREP Chairman Alex Chaparro. “Business is down for many agents, but getting into REO is a feat, particularly with so many brokers clamoring for listings. We hope to offer our listeners some insights about this whole segment of the business.”

The Voice of Hispanic Real Estate is an Internet talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 62 affiliate chapters. The show is broadcast bimonthly and features leading Latino real estate experts, prominent industry leaders and topics that are relevant to the Hispanic real estate market and Hispanic homebuyers.

For more information, visit http://www.blogtalkradio.com/nahrep.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, September 2, 2010—Zillow.com and Apartments.com, two of the nation’s leading online destinations for real estate and multifamily housing, respectively, announced a partnership to bring the Apartments.com national database of 90,000 managed apartment rental listings to Zillow. Apartments.com rental listings include comprehensive home details, photos, floorplans and property manager contact information—bringing the full search experience from Apartments.com to Zillow.

Listings from Apartments.com will receive exposure to Zillow’s 12 million monthly visitors, nearly two million of whom are currently renters. This syndication brings the total number of rental listings for single-family homes and apartments on Zillow.com to 150,000.

In addition to being displayed on Zillow, Apartments.com rental listings will also appear on the Zillow Mobile application, which has been downloaded more than two million times and is one of the most popular real estate applications on the iPhone, Android, iPad and Windows Mobile platforms.

“Zillow offers an unmatched user experience for home shoppers who are renting, deciding whether to rent or buy, or shopping for a home to buy. This partnership deepens Zillow’s footprint in the rental search industry, and gives Zillow users access to a new category of managed apartment rental listings,” said Chloe Harford, Zillow’s vice president of mortgages and new ventures.

Kevin Doyle, senior vice president and general manager from Apartments.com adds, “Our new partnership with Zillow is extending our reach to renters. By creating easy and convenient access to our listings, Apartments.com is able to drive highly qualified apartment shoppers to the leasing offices of our advertisers through unmatched exposure.”

In December 2009, Zillow added rental listings to its database of 100 million U.S. homes to complement its four million for-sale listings. Using the industry’s first monthly payment search filter, Zillow lets home shoppers search by a monthly payment they can afford, and simultaneously browse for-sale and for-rent homes. This is a helpful benefit as one in four (25%) home shoppers plan to search for both homes to buy and homes to rent, according to a recent Zillow survey.

Zillow home shoppers can also search for listings by neighborhood, zip code or city, and numerous home characteristics.

For more information, visit www.zillow.com and www.apartments.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.