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Window installation done right

By Bill and Kevin Burnett, Tuesday, August 5, 2008.

Q: Whenever I hear some contractor saying residential buildings are built better today than in bygone days, it infuriates me. Take my 10-year-old house (please). I recently found out that all the windows are leaking because the builder did not install whatever is needed to prevent rain from seeping in, and now I can expect dry rot in the framing near the windows. Maybe you could explain how a proper window should be installed so it does not leak?  more...

Put part-time rental cash in your pocket

By Tom Kelly, Tuesday, August 5, 2008.

It's the time of year for weddings in faraway churches and family reunions in relaxing places. Perhaps friends (or friends of friends) have approached you about renting your home or vacation cabin when you are not using it this year. And, they are willing to pay -- an amount in line with the best rental properties in the area.

Do you have to declare the income to the Internal Revenue Service on your annual income tax return? How much is too much before crossing into different tax threshold?  more...

Lenders, it's time to clean house Premium Content

By Kris Berg, Tuesday, August 5, 2008.

In what is being applauded as the most decisive response yet by federal officials to end the housing crisis, President Bush signed yet another mortgage relief measure today to help homeowners avoid foreclosure. This one, which according to an undisclosed source "should pretty much nail it," authorizes a few more billion dollars in government-backed relief.

Specifically, it reads: "Make check payable to Merry Maids."  more...

Owners misjudge home value trends

By Inman News, Tuesday, August 5, 2008.

Perception does not match up with reality when it comes to home prices, according to the results of a survey of homeowners released today by real estate valuation and marketing company Zillow.

While about 62 percent of homeowners surveyed said they believe their home values have increased or held steady in the past year, the reality is that about 73 percent of U.S. homes lost value, according to an analysis of Zillow's second-quarter real estate market reports data, due out Aug. 12.  more...

Inflation not dire enough to sway Fed Premium Content

By Inman News, Tuesday, August 5, 2008.

Fed stands pat on short-term rates
The Federal Reserve is keeping its target for the interest rate banks charge each other for overnight loans at 2 percent, as expected, saying labor markets have softened and financial markets remain "under considerable stress."  more...

National MLS a 'waste of time' Premium Content

By Inman News, Tuesday, August 5, 2008.

Editor's note: The following is a collection of reader's comments found on Inman.com:  more...

Multiple offers, tech-savvy buyers and the 'Red Carpet' Premium Content

By Pooja Kumar, Tuesday, August 5, 2008.

SAN FRANCISCO -- It's 2 p.m. and Jim Holt is helping a colleague on a computer in Redfin's 10th-floor suite on California Street.

The desks are pushed together into three long tables, each semi-separated with partitions, making it easy for the agents to communicate and get to know each other. Along the wall are three offices, one where the Northern California team lead, Ernesto Pineda, is holding a meeting.  more...

WCI files Chapter 11 bankruptcy

By Inman News, Tuesday, August 5, 2008.

Florida-based luxury home builder WCI Communities Inc. and 130 subsidiaries have filed for Chapter 11 bankruptcy protection from creditors, the company said Monday, acknowledging that up to $1.8 billion in debt may soon be in default.

The company's Watermark real estate brokerage, which does business as Prudential Florida WCI Realty, was excluded from the filing, as was its WCI Mortgage business and certain other joint ventures in which WCI is a partner, the company said.  more...