Saturday, July 26, 2008
Reader Question #2
There is a possibility we have found a way to put our three day review for the CRP exam on line. If we did that at a suggested cost of $700 per participant, how many of you would be inclined to do that over the live 3 day verson?
Reader Question
For those of you who have been around this industry for any length of time, you will remember when the relocation management firms and many in house programs had inventory specialists on staff. When the housing market skyrocketed many of the organizations let their inventory specialists go. Now we have a declining market and the government is reporting that 1 in 171 homes is in some stage of foreclosure. Is the relocation industry in a position to successfully handle the increased load of relocation caused homes on the market? Let me know your thoughts.
Wednesday, July 23, 2008
July 23,2008 Update
SIRVA Appoints New CEO
Sirva announced on July 17, 2008 that they have appointed Wes Lucas as CEO of SIRVA succeeding Robert Tieken.
Prudential Relocation Promotion
Prudential Relocation has appointed Joe Logudic as Managing Director for Asia Pacific Region
SAIC announces Relocation of Divisions
Science Applications International Corporation has announced that it is relocating the corporate headquarters for shared services from operations in San Diego and McLean, VA to an existing SAIC facility in Oak Ridge, Tennessee. Move will create more than 150 new jobs.
Sirva announced on July 17, 2008 that they have appointed Wes Lucas as CEO of SIRVA succeeding Robert Tieken.
Prudential Relocation Promotion
Prudential Relocation has appointed Joe Logudic as Managing Director for Asia Pacific Region
SAIC announces Relocation of Divisions
Science Applications International Corporation has announced that it is relocating the corporate headquarters for shared services from operations in San Diego and McLean, VA to an existing SAIC facility in Oak Ridge, Tennessee. Move will create more than 150 new jobs.
Sunday, July 20, 2008
July 20, 2008 Update
Army announces relocation
According to the Associated Press, the U.S. Army wil be moving 1300 soldiers to Hawaii over the next five years
Royal Philips Relocating Corporate Headquarters
Associated Press is reporting that Royal Philips NV is moving their corporate headquarters from New York City to Andover , MA
Clark & Reid Announces Personnel Changes
According to the Associated Press, the U.S. Army wil be moving 1300 soldiers to Hawaii over the next five years
Royal Philips Relocating Corporate Headquarters
Associated Press is reporting that Royal Philips NV is moving their corporate headquarters from New York City to Andover , MA
Clark & Reid Announces Personnel Changes
Clark & Reid Movers has announced that J. Chris MacKenzie has accepted an expanded position as Vice President for Sales and Marketing for the Executive Relocation Division of the company. Also Douglas Holmes has joined the firm as the Sales Manager for the Southeast Region.
Tuesday, July 15, 2008
July 15,2008 Update
I hope that you all had a great long 4th of July weekend. As each day goes by we hear more and more evidence that the world economy is being greatly affected by factors both of our own doing and by the actions of others. I have not seen a time in my lifetime where things have been so precarious and that could have a great affect on our livelihoods. Many of you know that to supplement my income due to only once a year holding the CRP classes, I took a position with the Borders Group and got caught in a RIF. So I truly feel for the professionals in the marketplace who find themselves out of work. We have two entries for today--one of movement forward to better times and one to insure that our problems do not get deeper.
New Mortgage Rules from Federal Reserve
The Federal Reserve on July 14, released new rules governing the mortgage market, which should have a direct affect on the relocation market. The new rules are as follows:
a. Prohibit a lender from making a loan without regard to the borrower's ability to repay the loan from income and other than the home value.
b. Requires creditors to verify the income and assets they rely upon to determine repayment ability. This has a direct affect on relocation loan programs which in some cases do not require documentation of income.
c. Bans any prepayment penalty if the payment can change in the initial four years. For higher priced loans prepayment penalties cannot last more than two years.
d. Requires lenders to establish escrow accounts on all loans
e. Mortgage Lenders and Brokers are prohibited from coercing a real estate appraiser to misstate a home's value
f. Loan payments are are to be credited as of the date of receipt
g. No fees can be charged by the mortgage industry until the borrower has received the early disclosures except for the reasonable cost of a credit check.
h. Sets out new mortgage advertising regulations on what lenders must disclose
Launch of New Real Estate Brand
Better Homes and Gardens and Realogy will conduct as press conference and webcast on July 23 to announce the formal roll out of the Better Homes and Gardens new real estate brand.
New Mortgage Rules from Federal Reserve
The Federal Reserve on July 14, released new rules governing the mortgage market, which should have a direct affect on the relocation market. The new rules are as follows:
a. Prohibit a lender from making a loan without regard to the borrower's ability to repay the loan from income and other than the home value.
b. Requires creditors to verify the income and assets they rely upon to determine repayment ability. This has a direct affect on relocation loan programs which in some cases do not require documentation of income.
c. Bans any prepayment penalty if the payment can change in the initial four years. For higher priced loans prepayment penalties cannot last more than two years.
d. Requires lenders to establish escrow accounts on all loans
e. Mortgage Lenders and Brokers are prohibited from coercing a real estate appraiser to misstate a home's value
f. Loan payments are are to be credited as of the date of receipt
g. No fees can be charged by the mortgage industry until the borrower has received the early disclosures except for the reasonable cost of a credit check.
h. Sets out new mortgage advertising regulations on what lenders must disclose
Launch of New Real Estate Brand
Better Homes and Gardens and Realogy will conduct as press conference and webcast on July 23 to announce the formal roll out of the Better Homes and Gardens new real estate brand.
Tuesday, July 08, 2008
Update July 8,2008
Where Oh Where Should I Move?
CollegeGrad.com has released it's July 2008 list of the top locations for fresh graduates to consider for their first positions. The top five cities were New York, Houston, Los Angeles, Boston and Philadelphia. Their survey also found that 85 percent of the entry level job seekers they talked with would be open to move across the country or internationally for the right position.
Kumon and Realogy Global Client Solutions form Alliance
Kumon, the number 1 tutoring franchise has signed an agreement with Realogy Global Client Solutions to serve as Kumon's business advisor to assit with the location and/or relocation of Kumon operations .
Interesting Reading
The latest issue of Site Selection Magazine (http://www.siteselection.com) has several articles of interest to relocation professionals. The cover article discusses the tech centers for tomorrow which looks at the role of universities, science parks and R&D Centers which are creating a new generation of industries. A second article talks about Building a Work Force and looks at the role of educational alliances in attracting new corporate relocations.
Kumon and Realogy Global Client Solutions form Alliance
Kumon, the number 1 tutoring franchise has signed an agreement with Realogy Global Client Solutions to serve as Kumon's business advisor to assit with the location and/or relocation of Kumon operations .
Interesting Reading
The latest issue of Site Selection Magazine (http://www.siteselection.com) has several articles of interest to relocation professionals. The cover article discusses the tech centers for tomorrow which looks at the role of universities, science parks and R&D Centers which are creating a new generation of industries. A second article talks about Building a Work Force and looks at the role of educational alliances in attracting new corporate relocations.
Thursday, July 03, 2008
Holiday Edition
Holiday Note
We have reached the half point of the year and we get a 3-day weekend to celebrate the event. May everyone have a safe and happy fourth. Enjoy the food, the company and your families.
GMAC Confirms Manpower Study
GMAC announced the results of a recent survey by Manpower. Many of the financial services firms are still relocating human capital around the world with a dual concentration on reducing costs and selecting the right person. Part of this process is the use of standardized policies. Driving this is a perceived lack of local talent int he emerging markets.
Prudential California closes offices
According to the Marin Independent Journal, Prudential California has made the decision to close their offices in Marin California due to the slowdown int he real estate markets. The move will affect 24 agents who will be moved to other offices within the chain.
Colorado Withdraws Transfer Tax Proposal
The intention of the state government was to place on the November ballot an Initiative which would place a new tax on the transfer of real estate. The intent of the new tax was to fund affordable housing within the state. State officials on July 2nd made the decision to remove the initiative from the ballot.
We have reached the half point of the year and we get a 3-day weekend to celebrate the event. May everyone have a safe and happy fourth. Enjoy the food, the company and your families.
GMAC Confirms Manpower Study
GMAC announced the results of a recent survey by Manpower. Many of the financial services firms are still relocating human capital around the world with a dual concentration on reducing costs and selecting the right person. Part of this process is the use of standardized policies. Driving this is a perceived lack of local talent int he emerging markets.
Prudential California closes offices
According to the Marin Independent Journal, Prudential California has made the decision to close their offices in Marin California due to the slowdown int he real estate markets. The move will affect 24 agents who will be moved to other offices within the chain.
Colorado Withdraws Transfer Tax Proposal
The intention of the state government was to place on the November ballot an Initiative which would place a new tax on the transfer of real estate. The intent of the new tax was to fund affordable housing within the state. State officials on July 2nd made the decision to remove the initiative from the ballot.
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