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Localism reaches for broader user-generated content Premium Content

By Glenn Roberts Jr., Tuesday, July 8, 2008.

Localism, a neighborhood-focused Web site launched in beta last year by the ActiveRain online real estate network, has retooled with a new design and a plan to join together its real estate members with the general public in defining neighborhood areas and creating content around them.

Localism.com, which draws content from ActiveRain's user base of roughly 97,000 members, works on the micro and macro scale in allowing users to search for information categorized at the state, county, city, neighborhood and community levels.  more...

Do-it-yourself insulation, mildew repair

By Bill and Kevin Burnett, Tuesday, July 8, 2008.

Q: I have a stucco house built in 1959, and there is no sheathing under the stucco, only 15-pound felt over wire laced between the studs. The stucco is in great condition, but the house, built as a summer cottage, has no insulation. Not only is it cold in the winter, but mildew forms on the walls behind anything near the wall, including furniture and artwork. My questions are:

1. Can we get away with just blowing in insulation, or do we have to install a vapor barrier on the exterior to prevent the moisture from condensing on the interior walls?  more...

Reverse mortgages at risk in Washington state

By Tom Kelly, Tuesday, July 8, 2008.

Well-intentioned consumer groups have done an admirable job of curbing the abuses of mortgage lenders, but recent legislation passed in Washington state will inadvertently curtail the number of lenders able to offer reverse mortgages. Lenders in other states are watching with interest.

In a nutshell, Washington state consumers pushed their representatives to increase lender licensing requirements and scrutinize all negative-amortization loans. Negative amortization occurs when the monthly loan payment is less than the principal and interest needed to pay off the loan in a specific period of time. The difference is added to the loan amount, so that the borrower owes more than the amount initially borrowed.  more...

Dialing the Rotary Lady Premium Content

By Kris Berg, Tuesday, July 8, 2008.

I think I am going to join my local Rotary Club. I made the mistake of suggesting as much to my youngest daughter recently, who dutifully returned from an event bearing the business card of the Rotary Lady. "She's expecting your call," she said. Oops. What have I gone and done now?

This sudden interest in becoming a Rotarian came to me through their sponsorship of my daughters' high school Interact Club. I have been touched and impressed by the role the Rotary has played in instilling a sense of community and global involvement among young people. And, I might get to wear a funny hat. Wait -- I think that's the Shriners. Whatever. I also am realizing that I need to get out more.  more...

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On the path to profit -- or nationalization?

By Matt Carter, Tuesday, July 8, 2008.

Fannie Mae and Freddie Mac have the capital they need to not only ride out the housing downturn, but underwrite a lot of loans this year that should prove to be very profitable in the long run. That, according to James Lockhart, head of the Office of Federal Housing Enterprise Oversight (OFHEO), which oversees the companies.

Investors were hanging on Lockhart's every word today, because of a Lehman Brothers report that suggested proposed changes to an accounting rule by the Financial Accounting Standards Board might force Fannie and Freddie to raise $75 billion in capital.  more...

Century 21 site gets facelift

By Inman News, Tuesday, July 8, 2008.
Century21.com revamps property search with interactive maps, video

Century 21 Real Estate, a franchise brand of Realogy Corp., has modernized its corporate Web site to incorporate Web 2.0 property search tools such as interactive mapping with drawing tools to select search areas, slide shows and online video, and sliders that users can click and drag to set search parameters.

The first major facelift for the site began last year, said Kevin Pollack, director of e-Commerce marketing for Century 21.  more...

NAR revises 2008 forecast Premium Content

By Inman News, Tuesday, July 8, 2008.

Resale prices, sales expected to drop 6% this year  more...

Risk of price declines falls in most markets Premium Content

By Matt Carter, Tuesday, July 8, 2008.

The risk of price declines continues to intensify in markets where prices shot up the most during the boom, but is falling in most other markets, according to an analysis by PMI Mortgage Insurance Co.

PMI said the risk of price declines fell during the first quarter in 326 of the 381 metropolitan statistical areas (MSAs) tracked, or 86 percent. Of the 55 markets where PMI gauged the risk of price declines had increased, all but five were in California, Florida, Nevada and Arizona.  more...