Dominique Fong, The Desert Sun
The desert's largest real estate group says it will share data about Coachella Valley homes through separate deals to agents in Los Angeles, Orange and San Diego counties. The group had previously pulled out of a regional pool of Southern California listings, prompting concerns that fewer buyers would see desert properties.
The California Desert Association of Realtors announced this past week that it will share desert listings under a new agreement with a 60,000-member real estate group in San Dimas. The California Regional Multiple Listing Service spans the Inland Empire.
CDAR is also seeking to share data with a 12,000-member group that primarily covers Beverly Hills and west Los Angeles neighborhoods.
Negotiations are ongoing with the Combined L.A./Westside Multiple Listing Service Inc., said David Banks, a CDAR board member and head of the group's MLS committee. Palm Desert-based CDAR, which has about 3,000 members, also currently shares information with a San Diego database.
In August, CDAR split from a conglomerate database of Southern California listings.
After the withdrawal, some homeowners and small investors reported seeing properties vanish from the CDAR system. Many of the disappeared listings were from out-of-town agents, they said. With such limited exposure, some property owners were concerned that fewer buyers would bid on local real estate.
Now, with its latest agreements, CDAR hopes to reduce those interruptions to data access.
Morrtgage interest rates eased slightly this week amid mixed housing data, with Freddie Mac's survey showing that lenders were offering 30-year fixed-rate loans to well-qualified borrowers at an average of 4.2%, down from 4.23% last week.
The average rate for 15-year fixed-rate home loans edged down from 3.37% to 3.36%, while the start rates for adjustable loans with the first five years fixed rose to 3.08% from 3.06%.
Frank Nothaft, Freddie Mac's chief economist, took note of the mixed picture in the housing markets in announcing the survey results Thursday morning.
While sales of new single-family homes surged 18% in August, sales of previously owned homes dropped by about 2%.
Meantime, the Federal Housing Finance Agency, which oversees Freddie Mac and Fannie Mae, reported that house prices rose just 0.1% on a seasonally adjusted basis in July, and were up 4.4% over a year earlier.
Freddie Mac, which buys home loans from lenders and guarantees payments to investors in securities backed by the mortgages, has been a ward of the federal government since the financial crisis.
It asks lenders each week about the terms they are offering to low-risk borrowers on mortgages up to $417,000.
The borrowers in this week's survey would have paid 0.5% of the loan amount in upfront lender fees and discount points. Many borrowers pay additional points to lower their rates.
Third-party expenses usually paid by the borrower, such as for appraisals and title insurance, are not included in Freddie Mac's weekly snapshot.
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Copyright © 2014, Los Angeles Times
California Desert Association of REALTORS® Expands Multiple Listing Service Connections to Major Southern California Areas
PALM DESERT (Calif.) – As promised, the California Desert Association of REALTORS© will expand data sharing of homes, condos, residential income property and land for sale to real estate agents in almost all marketing areas in Los Angeles, Orange and San Diego counties, CDAR president Sharon Rogers announced today.
“This agreement with California Regional MLS (CRMLS) assures members of our Desert Area MLS real time access to active and historical property listings of approximately 60,000 real estate agents in areas surrounding the Coachella Valley,” Rogers said.
And to improve listing exposure, for a greater number of real estate agents, Rogers said CDAR is currently in negotiations with the Combined L.A./Westside Multiple Listing Service Inc., known as CLAW Regional MLS, to provide similar access to listings of their approximately 12,000 members.
David Banks, MLS Committee Chair 2014, said CDAR has had a reciprocal agreement to share home and property listings with San Diego County's Regional Multiple Listing Service San Diego Area MLS (Sandicor®) since 2011.
“Now that we are live with our new CDAR MLS, we are pleased to keep our promise of cooperation and connecting with our fellow real estate agents from the Mexican Border north to Malibu, and soon beyond, ” Banks said.
“Our collective MLS vendors are working diligently to complete the connections for data and key box access quickly as possible, “Banks said.
CDAR had previously unveiled a new simplified Multiple Listing Service website, www.cdaronline.org, to make searching for homes and condominiums easier for buyers, sellers and their real estate agents throughout the greater Palm Springs area on Aug. 26. The Palm Springs Regional Association of REALTORS© listings are part of this Desert Area MLS.
The new DAMLS website is “agent centric to make it easier for real estate agents to input information more clearly about listings and adding as many as 50 photos,” Banks said.
“CDAR is dedicated to delivering a new simplified website to insure uninterrupted MLS support to real estate agents to provide residential property listings for buyers and sellers,” Banks said. “The public now has a free, easier access to see homes for sale in the Coachella Valley and beyond.”
MLSs are private databases that are created, maintained and paid for by real estate professionals to help their clients, sell and rent property. In most cases, access to information from MLS listings is provided to the public free-of-charge by participating brokers. The listings provide essential information about a residential property, such as price, number of bedrooms, bathrooms, square footage and amenities such as fireplaces and pools.
The California Desert Association of REALTORS®, The Voice for Real Estate in the Coachella Valley, represents more than 3,000 real estate professionals from Palm Springs to Coachella. REALTORS® hold themselves to a higher standard yet only about a quarter of California licensed real estate agents are REALTORS®. You can be sure you’re working with a REALTOR® by visiting us online at www.CDARonline.org. For more information, please call (760) 346-5637 or visit online at www.CDARonline.org
Paul Herrera is the new Government Affairs Director for the California Desert Association of REALTORS® (CDAR).
In his role, Paul serves as an advocate for REALTORS® and their clients on local issues, helping to preserve and protect property rights and the value of homeownership.
Working with colleagues at the California Association of REALTORS® and the National Association of REALTORS®, Paul helps members make a difference for their clients at the local, state and federal levels.
Not All Agents or Brokers are REALTORS® - There is a Difference
As a prerequisite to selling real estate, a person must be licensed by the state in which they work, either as an agent/salesperson or as a broker. Before a license is issued, minimum standards for education, examinations and experience, which are determined on a state by state basis, must be met. After receiving a real estate license, most agents go on to join their local board or association of REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®, the world's largest professional trade association. They can then call themselves REALTORS®.
The term "REALTOR®" is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics (which in many cases goes beyond state law). In most areas, it is the REALTOR® who shares information on the homes they are marketing, through a Multiple Listing Service (MLS). Working with a REALTOR® who belongs to an MLS will give you access to the greatest number of homes.