Smoking may be hazardous to real estate health

In spite of a healthy U.S. housing market, real estate brokers have had more difficulty finding buyers for homes and condominiums that smell strongly of tobacco smoke, according to a Feb. 8, 2004, article in the New York Times. The American Lung Association, which has been warning people of the health risks of tobacco for more than 50 years, has heard of this secondary financial risk of smoking before.  more...

HUD aims to 'reform' Sec. 8

The U.S. Department of Housing's proposed 2005 budget contains sweeping reform of the nation's rental assistance voucher program. The changes would help public housing authorities transition more low-income families self-sufficiency and reduce the number of families around the country who are on long waiting lists for assistance, according to the federal housing agency. The Sec. 8 program current assists 1.9 million households.  more...

California home prices shatter record

The median price of an existing, single-family detached home in California hit a new record during the fourth quarter of 2003, rising 17.9 percent to $391,680, the California Association of Realtors reported on Thursday.

For the year as a whole, the median price of an existing, single-family detached home was a new annual record at $372,720, a 17.9 percent increase compared to 2002.  more...

Hawaii or jail, what is the difference?

Dear Real Estate Ethicist,

I overheard my broker telling a title company representative, "The business will come your way when I am sitting with my family on the beach in Maui and not paying the tab." Sounds like funny business to me. I don't want to work for someone who is doing something unethical or worse, illegal. –Ethically Challenged

Dear Challenged,

It sounds like your boss is willing to break the law, if indeed he is willing to take a bribe in exchange for steering title business to one firm.  more...

Overnight interest rates continue slide

Long-term mortgage interest rates were lower Thursday, and the benchmark 10-year Treasury bond yield increased to 4.05 percent.

The 30-year fixed-rate average slipped to 5.29 percent, and the 15-year fixed-rate decreased to 4.57 percent. The 1-year adjustable was down at 3.27 percent.

The 30-year Treasury bond yield increased to 4.93 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.  more...