For Facebook, 2009 was a year of extraordinary growth in which it transformed from a fad to a phenomenon that now reaches more than 350 million users globally and surpassed dot-com pioneer AOL in popularity within the United States.
But as the social networking giant gears up for more expansion in 2010 - the latest sign being a deal to nearly triple its office space in Palo Alto - the prodigal startup is also facing greater scrutiny, including a complaint filed with the Federal Trade Commission over its privacy policies.
Such controversies may be a chronic conundrum for Facebook, said Jeremiah Owyang, a Web consultant with Altimeter Group. To maximize its business potential, he said, Facebook needs to encourage users to make more information available to advertisers. But its popularity is based in part on the expectation of users that they will control their data.
"Facebook is now a heavyweight," said Owyang, suggesting that it has "moved up in weight class" to compete with the likes of Google, Microsoft, Yahoo and AOL. Its reach spans more than the facebook.com site familiar to users, where they can keep up with the doings of friends and family, and now encompasses thousands of other Web sites that use its Facebook Connect function and the communication features it offers.
For it to seriously challenge Google and other established Web giants in the business realm, analysts say, Facebook still needs to build out its advertising potential and develop other revenue streams beyond the sale of virtual goods.
Mark Zuckerberg, Facebook's founder and CEO, recently said he anticipated the company's payroll, now exceeding 1,000 globally, would grow by 50 percent in 2010. The expansion in work force is expected to be gradual, with Facebook moving some operations into new offices in the first part of the year, said spokesman Larry Yu.
But the growth will not be without challenges. Over the years, the company has faced criticism over changes that, some users say, compromise privacy. The latest came in a complaint filed by the Electronic Privacy Information Center after Facebook required users to adapt new privacy protocols.
"We've had a tremendous response. Tech bloggers and security experts think we're on to something important," said Marc Rotenberg, executive director of EPIC.
The EPIC complaint, signed by nine other privacy and consumer-protection organizations, was triggered by changes Facebook instituted Nov. 19 and Dec. 9 that required users to use a "transition tool" that included a review of their privacy settings.
While Facebook portrayed it as a benign process that served to empower users, several technology experts complained. "I felt that Facebook was trying to trick me into loosening controls on my information," wrote Princeton professor Ed Felten, a security specialist. The EPIC complaint is seeking to require Facebook to restore privacy safeguards.
Despite the complaints, the company's business has shown no signs of slowing down. Facebook's recent adoption of a dual-class stock structure, which would protect the voting power of current investors, has also stoked speculation that it could pursue a Wall Street initial public offering of stock next year. But Facebook itself has sought to discourage speculation, and one of its investors, Digital Sky Technologies, has been buying privately held shares from employees at valuations that may discourage internal pressures for an IPO. Those deals, according to recent reports, put Facebook's value at $11 billion.
Still, an IPO next year is a possibility. "There is a cohort of technology companies that could likely go public in 2010, if they want to, and Facebook is near the top of the list," said Paul Kedrosky, a venture capitalist.
By Scott Duke Harris
San Jose Mercury News
Posted: Tuesday, Dec. 29, 2009
Tuesday, December 29, 2009
Another one bites the dust.
http://www.charlotteobserver.com/business/story/1149913.html
A Charlotte real estate agent has agreed to plead guilty in a mortgage fraud conspiracy, operating what prosecutors call a “builder kickback” scheme in Mecklenburg County.
Brandon Foley, an owner of Smart Choice Realty, served as an agent for deals in which a builder “agreed to pay hidden kickbacks to buyers and promoters who recruited buyers,” according to court documents filed Monday. He was involved in the fraud ring for more than two years, starting about September 2005, documents say.
Foley, charged with one count of mortgage fraud conspiracy, faces up to five years in prison and a maximum fine of $250,000. He declined to comment this afternoon, saying his attorney advised him not to discuss his case.
His company Web site says he's a Charlotte native who attended Independence High School and East Carolina University. He lists his motto as “Make it fun.”
The conspiracy generally involved an unidentified builder that had “numerous houses that were not selling at the desired price,” according to court papers. To stimulate sales, “Builder A” agreed to pay kickbacks, which were not listed on closing documents.
As the real estate agent, Foley “facilitated the hidden kickbacks,” the documents say.
Prosecutors say Foley's case is not related to the “Waxhouse Investigation,” a mortgage fraud case in which 12 people have agreed to plead guilty since last year.
However, there are similarities, based on filings in the cases. For example, in both, participants lied to get mortgages, including misrepresenting buyers' income, place of employment and intent to occupy the house as a primary residence.
In the Foley case, conspirators also used false identification, such as fake Social Security numbers, the filing says.
A Charlotte real estate agent has agreed to plead guilty in a mortgage fraud conspiracy, operating what prosecutors call a “builder kickback” scheme in Mecklenburg County.
Brandon Foley, an owner of Smart Choice Realty, served as an agent for deals in which a builder “agreed to pay hidden kickbacks to buyers and promoters who recruited buyers,” according to court documents filed Monday. He was involved in the fraud ring for more than two years, starting about September 2005, documents say.
Foley, charged with one count of mortgage fraud conspiracy, faces up to five years in prison and a maximum fine of $250,000. He declined to comment this afternoon, saying his attorney advised him not to discuss his case.
His company Web site says he's a Charlotte native who attended Independence High School and East Carolina University. He lists his motto as “Make it fun.”
The conspiracy generally involved an unidentified builder that had “numerous houses that were not selling at the desired price,” according to court papers. To stimulate sales, “Builder A” agreed to pay kickbacks, which were not listed on closing documents.
As the real estate agent, Foley “facilitated the hidden kickbacks,” the documents say.
Prosecutors say Foley's case is not related to the “Waxhouse Investigation,” a mortgage fraud case in which 12 people have agreed to plead guilty since last year.
However, there are similarities, based on filings in the cases. For example, in both, participants lied to get mortgages, including misrepresenting buyers' income, place of employment and intent to occupy the house as a primary residence.
In the Foley case, conspirators also used false identification, such as fake Social Security numbers, the filing says.
Wednesday, December 23, 2009
Real Estate on Facebook
FACEBOOK FAUX-PAS?
I've have become a friend and fan of many of our Weichert Affiliates' offices on Facebook and I'm getting concerned. Concerned that they (we) are getting confused about Facebook, in particular and, social media, in gereral.
In the past four hours I received 7 posts showing new listings, 4 about Open Houses and 1 congratulating an agent on a closing. I received only 1 with information about the market. And, its like that all day long.
Because I am a friend/fan with so many of our offices I am be bombarded more than the average Facebooker but how many advertisements is too many?
I think it's OK to share a special listing now and again, or to have a spot where friends/fans can go to see listings if THEY want to but, I think too many have already forgotten that this SOCIAL media, not mass media. Socializing means conversing with people, not just talking to them.
Give your friends/fans a reason to stay connected to your Facebook profile, page or group. Talk to them and inform them about real estate not the real estate you have for sale. If you position yourself as the company with the best information you've also positioned yourself as the go-to comany when comes to them buying, selling or referring someone who wants to buy or sell.
One Affiliate who knows how to position his company on Facebook is Bill Luther, WEICHERT, REALTORS® - Channing, in Cambridge, MA. I get informative posts from them but, if I were a buyer, I would a place for ME to search for listings on his company's Facebook page. Check it out: http://www.facebook.com/pages/Cambridge-MA/Weichert-Realtors-Channing-Real-Estate/148415272987?ref=ts
Should you be pushing out listing and open house information. Honestly, I'm not sure, and who cares? What do your friends and fans think? That's what matters. What I am sure about is that, if you're marketing you had better be socializing more.
By the way, if you are a member of a Weichert affiliate management team and have not joined the group, WREA Management Dynamics on Facebook, I invite you to make a request. See you there... http://www.facebook.com/home.php#/group.php?gid=195812151811&ref=ts
I've have become a friend and fan of many of our Weichert Affiliates' offices on Facebook and I'm getting concerned. Concerned that they (we) are getting confused about Facebook, in particular and, social media, in gereral.
In the past four hours I received 7 posts showing new listings, 4 about Open Houses and 1 congratulating an agent on a closing. I received only 1 with information about the market. And, its like that all day long.
Because I am a friend/fan with so many of our offices I am be bombarded more than the average Facebooker but how many advertisements is too many?
I think it's OK to share a special listing now and again, or to have a spot where friends/fans can go to see listings if THEY want to but, I think too many have already forgotten that this SOCIAL media, not mass media. Socializing means conversing with people, not just talking to them.
Give your friends/fans a reason to stay connected to your Facebook profile, page or group. Talk to them and inform them about real estate not the real estate you have for sale. If you position yourself as the company with the best information you've also positioned yourself as the go-to comany when comes to them buying, selling or referring someone who wants to buy or sell.
One Affiliate who knows how to position his company on Facebook is Bill Luther, WEICHERT, REALTORS® - Channing, in Cambridge, MA. I get informative posts from them but, if I were a buyer, I would a place for ME to search for listings on his company's Facebook page. Check it out: http://www.facebook.com/pages/Cambridge-MA/Weichert-Realtors-Channing-Real-Estate/148415272987?ref=ts
Should you be pushing out listing and open house information. Honestly, I'm not sure, and who cares? What do your friends and fans think? That's what matters. What I am sure about is that, if you're marketing you had better be socializing more.
By the way, if you are a member of a Weichert affiliate management team and have not joined the group, WREA Management Dynamics on Facebook, I invite you to make a request. See you there... http://www.facebook.com/home.php#/group.php?gid=195812151811&ref=ts
New Good Faith Estimate Rules and Regs
I have saved a copy of the new Rules & Regulations for the new GFE which will have to be used starting January 16, 2010. It is saved on the H drive in the folder: "Good Faith Estimate NEW".
Regards,
Allaire Cramer
Sales Manager
Weichert, Realtors-Craven & Company
Regards,
Allaire Cramer
Sales Manager
Weichert, Realtors-Craven & Company
Area 11 TTD Statistics
In Area 11 Single Family data from 1/1/2009 through 11/30/2009:
3572 New Listings
1530 Pending Sales
1371 Sold
Average Selling Price of $179,094
In Area 11, Condo/Townhomes
313 New Listings
110 Pending Sales
100 Sold
Average Selling Price of $131,153
3572 New Listings
1530 Pending Sales
1371 Sold
Average Selling Price of $179,094
In Area 11, Condo/Townhomes
313 New Listings
110 Pending Sales
100 Sold
Average Selling Price of $131,153
New Weichert University course on Tax Credits
How much do you really know about the Tax Credit? Take the new course - Tax Credit 2009-2010. Go to Weichert University - it is listed on the first page. I thought I knew it well, but I learned a few things. For our new agents - taking Weichert University courses is a great review. They are short and easy to take. Please let me or Barbi know if you have problems logging on.
Weichert Ranked in Top 10 Real Estate Franchises!
#9 is the rank we, WREA, acheived in the just completed on-line survey conducted by RealSure (www.realsure.com
The survey required real estate professionals to vote for a franchise on a scale from 0 – 5; starting from “Never heard of the brand” all the way up to “Excellent brand.”
I am proud to reveal that we, Weichert Real Estate Affiliates, was in the Top 10, coming in at #9! As Stefan Swanepoel notes, "Long standing independent and northeast-based regional Weichert REALTORS converted to a franchise seven years ago and has steadily grown. Impressively it was able to break into the top 10 as a recognizable national brand."
While there are 8 others above us, given our young age and office and agent populations, compared to those, I am very, very proud to be part of our great team of affiliates. "Congraulations to us all!", he said immodestly.
Regards,
Mark
MARK W. HANNA
Vice-President of Business Development
Weichert Real Estate Affiliates, Inc.
215/708-7425
mhanna@weichertrealtors.net
The survey required real estate professionals to vote for a franchise on a scale from 0 – 5; starting from “Never heard of the brand” all the way up to “Excellent brand.”
I am proud to reveal that we, Weichert Real Estate Affiliates, was in the Top 10, coming in at #9! As Stefan Swanepoel notes, "Long standing independent and northeast-based regional Weichert REALTORS converted to a franchise seven years ago and has steadily grown. Impressively it was able to break into the top 10 as a recognizable national brand."
While there are 8 others above us, given our young age and office and agent populations, compared to those, I am very, very proud to be part of our great team of affiliates. "Congraulations to us all!", he said immodestly.
Regards,
Mark
MARK W. HANNA
Vice-President of Business Development
Weichert Real Estate Affiliates, Inc.
215/708-7425
mhanna@weichertrealtors.net
New NC Real Estate Rules and Regs
Last week three of the regulatory boards that affect the real estate industry considered rule changes.
On Tuesday, December 8, the North Carolina Building Code Council voted to require all newly constructed homes to have carbon monoxide detectors installed outside sleeping areas.
Also on Tuesday, the NC Commissioner of Banks held a public hearing on proposed rule changes to implement legislation passed this legislative session to conform North Carolina’s mortgage licensing act to federal law.
Finally, the Real Estate Commission voted on Wednesday, December 9 to proceed with changes to 17 Commission rules. The draft rule changes will be published in January and include an extension in the time licensees must retain trust account records from 3 to 5 years and a requirement that sellers disclose the existence of all military installations within 1 mile of their property on the Residential Property Disclosure Form. NC Association of REALTORS® staff will be meeting with Commission staff and interested parties this week to address our concerns with these rule changes.
On Tuesday, December 8, the North Carolina Building Code Council voted to require all newly constructed homes to have carbon monoxide detectors installed outside sleeping areas.
Also on Tuesday, the NC Commissioner of Banks held a public hearing on proposed rule changes to implement legislation passed this legislative session to conform North Carolina’s mortgage licensing act to federal law.
Finally, the Real Estate Commission voted on Wednesday, December 9 to proceed with changes to 17 Commission rules. The draft rule changes will be published in January and include an extension in the time licensees must retain trust account records from 3 to 5 years and a requirement that sellers disclose the existence of all military installations within 1 mile of their property on the Residential Property Disclosure Form. NC Association of REALTORS® staff will be meeting with Commission staff and interested parties this week to address our concerns with these rule changes.
Google Maps for Real Estate
Hey everyone check out a new update to Google Maps. It shows all the real estate listings. The more you zoom in on an area the more properties you will see. Check it out!
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