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Bailout talks could drag into weekend

By Inman News, Thursday, September 25, 2008.

Congressional leaders emerged from a meeting with President Bush Thursday with no agreement on implementing a plan to buy billions in troubled assets from banks and financial institutions.

Although Democrats emerged from a long negotiating session earlier in the day with Republican lawmakers claiming to be near a consensus on legislation authorizing the plan, GOP leaders leaving the White House meeting said no agreement had been reached.  more...

Experts: No quick housing fix Premium Content

By Glenn Roberts Jr., Thursday, September 25, 2008.

U.S. economic troubles, including the compounding credit crisis, are taking a toll on the housing market, said real estate industry experts during a conference call Thursday hosted by real estate search company Trulia.

"Bad news is always the worst thing to hit the market, more than fact or reality," said Barbara Corcoran, a real estate veteran and author who founded Manhattan's Corcoran Group and is a contributor to CNBC and NBC's "Today Show." It takes a "brave soul" to be in the market these days, she said.  more...

Central heating's come a long way

By Arrol Gellner, Thursday, September 25, 2008.

Nowadays, when you're feeling chilly, you just nudge your thermostat up a few degrees. Not too long ago, you'd have been in for a lot more effort: Until the 1880s, most American houses were still heated by an open fire.  more...

Top ways to boost curb appeal

By Paul Bianchina, Thursday, September 25, 2008.

You've no doubt heard the term "curb appeal," which is the first impression that your home makes when a visitor arrives. Whether you have your home up for sale or just want things to look a little nicer when you or someone else pulls up out in front, the best place to start is by giving the front of your home a critical examination.

Driveway: A driveway, by necessity, tends to be a fairly dominant feature, and it is often one of the first things that a person sees when they arrive at your home.  more...

Premium service deserves premium pay Premium Content

By Bernice Ross, Thursday, September 25, 2008.

According to Consumer Reports, 67 percent of agents will reduce their commission simply because the seller asks them to do so. Do you know what to do to earn the full fee you deserve?

Last week's article looked at five strategies to earn a full commission. The key point is to focus on value rather than price. After the sellers hear about the wide variety of services that you provide, they may still test you to see whether you'll lower your fee.  more...

Dems claim compromise on bailout Premium Content

By Matt Carter, Thursday, September 25, 2008.

Congressional leaders today said they'd reached compromises on some disputed issues surrounding the Bush administration's plan to empower the Treasury Department to buy billions in risky investments from banks and financial institutions to prevent a lending collapse.

Details of the compromise have not been released. But it's expected to at least partially address ...  more...

California sales rise as prices fall

By Inman News, Thursday, September 25, 2008.

Sales of resale homes in California jumped 56.7 percent year-over-year in August while the median price slipped 40.5 percent, the California Association of Realtors reported today. Nationally, resale home sales and prices dropped about 10 percent year-over-year in August, the National Association of Realtors reported.  more...

Coming soon: 100 Most Influential Real Estate Leaders

By Inman News, Thursday, September 25, 2008.

The Inman News 2008 list of 100 Most Influential Real Estate Leaders will be published Monday, Sept. 29, as a Special Report available to Inman News Premium Members.

The annual list of most influential people in the industry recognizes those who embrace leadership, innovation, ingenuity, power and persistence -- they are the industry's best and brightest, and also include those outside figures whose actions influence the business of buying and selling homes.  more...

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Where's Batman When You Need Him?

By Joel Burslem, Thursday, September 25, 2008.

 

Film footage courtesy The Dark Knight.  more...

Fewer new homes expected in California

By Inman News, Thursday, September 25, 2008.

The combination of declining new-home production and the hardship of trying to sell off existing inventory has led California home-building analysts to lower their construction forecast for 2008.

The Construction Industry Research Board (CIRB) says it is now projecting a total of 70,000 housing units for 2008, down from the 75,000 units projected last month, with only 74,000 units projected for 2009.  more...

New-home sales tank

By Inman News, Thursday, September 25, 2008.

August sales of new single-family homes fell dramatically from a year ago while the median price dipped at a more modest pace, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

At a seasonally adjusted annual rate of 460,000 units, new-home sales were approximately 11.5 percent below July's rate and some 34.5 percent below the 702,000-unit pace in August 2007.

The median price of new houses sold in August -- $221,900 -- dropped 6.1 percent from $236,500 a year ago.  more...

Mortgage rates climb past 6%

By Inman News, Thursday, September 25, 2008.

Market uncertainty over the state of the economy helped push interest rates for some mortgages back up above 6 percent this week, Freddie Mac said in releasing its weekly rate survey.

The 30-year fixed-rate mortgage (FRM) averaged 6.09 percent with an average 0.7 point for the week ending Sept. 25, up from 5.78 percent a week ago but well below the 6.63 percent peak for the year seen in July. A year ago, lenders were charging 6.42 percent for 30-year FRMs.  more...

Some question bailout in wake of HR 3221

By Inman News, Thursday, September 25, 2008.

Editor's note: The following is a reader comment on the Sept. 24 Inman News column, "Federal plan 'a disaster in the making.' "  more...

Bush defends bailout Premium Content

By Matt Carter, Thursday, September 25, 2008.

President Bush delivered his first television address in more than a year Wednesday to defend the administration's plan to borrow up to $700 billion in order to buy troubled assets from banks and financial institutions.

On Wednesday, lawmakers asked Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke to justify the administration's claims that drastic action is urgently needed to unfreeze credit markets.  more...