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Reality trumps Wall Street 'glee'

By Lou Barnes, Friday, April 10, 2009.
Flickr photo 'Antikamnia Nun' by Robot Zombie Monkey

This has been a strange week, marked by extreme divergence in evaluation of incoming economic data and disconnect between Main Street reality vs. Washington proclamation. Mortgage and Treasury rates were stable -- we no longer have markets, just the Fed (damned glad to have 'em, too).

The stock market began badly as solid, blue-collar bank analysts said the obvious: recession losses will soon overtake toxic dithering. Then wise assistance for life insurers gave support, and players turned on the stock-market horsefeathers machine.  more...

4 Realtor groups join statewide system

By Inman News, Friday, April 10, 2009.

Fresno, Lake County, Madera County, and Merced County Realtor associations are the first active participants in a statewide multiple listing service initiative in California by CALMLS, a nonprofit subsidiary of the California Association of Realtors.

Combined, the four associations that are charter members of the statewide system represent only about 3,500 members -- the Fresno Association of Realtors is the largest with about 2,400 Realtor members.  more...

BofA launches 'Home Affordable' refis

By Inman News, Friday, April 10, 2009.

Bank of America says its begun refinancing mortgages under the Obama administration's "Making Home Affordable" initiative, which is designed to allow homeowners with loans owned by Fannie Mae or Freddie Mac to take advantage of lower rates.

Homeowners who are current on their mortgages are eligible to refinance under the program even if their loan-to-value ratio has ballooned to as much as 105 percent because of falling property values.  more...

Architects and CAD: a love-hate relationship

By Arrol Gellner, Friday, April 10, 2009.

Not so long ago, a well-equipped architect might have had the following items on his drawing board: A T-square or parallel rule; a couple of plastic drafting triangles; some templates for drawing circles, door swings, and the like; and a container bristling with an array of mechanical pencils. A really up-to-the-minute practitioner might even boast an electric erasing machine, to help fix all the errors that inevitably cropped up as hand-drawn plans wound their way to completion.

Today, every one of these items is utterly obsolete, right down to the pencils -- all swept away by the advent of computer-aided drafting, or CAD. CAD produces invariably flawless lines, along with perfect lettering in any font or size. As for erasing, it's now done quickly and spotlessly by tapping the Delete key. Hence, the drafting skills so diligently practiced by architects of my generation now rank roughly on par with the making of stovepipe hats.  more...

Nothing seems to fix low shower pressure

By Paul Bianchina, Friday, April 10, 2009.

Q: I have a shower in my master bath that has had low pressure since we built the home five years ago. I've taken the head off and the pressure is still weak. All the other water sources in the house have very good pressure. A friend mentioned that the cartridge could be the culprit. Does that sound right? Is it hard to replace? I'm pretty handy and have fixed a bunch of stuff in previous homes.

 

A: If you have good pressure everywhere else, then I would agree with your friend that the cartridge is probably the problem. Since it's been doing this since the house was new, it probably has a small piece of dirt, solder or other debris in it.  more...

Who pays when renter skips out?

By Janet Portman, Friday, April 10, 2009.

Q: I'm the owner of an apartment complex near a large hospital. The hospital regularly brings in traveling nurses, who stay for three months. The nurses work for an agency, and the agency provides housing for each nurse by renting an apartment from me. One of these nurses stayed for two weeks, then quit her job and left the state. I think I can look to the agency to make good on the rest of the rent, but they say that the tenant was the nurse, and that I'm limited to going after her. Who's right? --Sandy H.

A: When a tenant breaks a lease without a legal justification, in most states she's on the hook for the rent until the landlord, using reasonable efforts, re-rents the unit. If the market for units like this is reasonably hot, you should be able to fill this vacancy within a month or so, which would mean that you'd be entitled to compensation for that empty time. But if the market is soft, and you're unable to secure a replacement, you could be entitled to the entire balance of the rent.  more...

The perfect purchase offer

By Tara-Nicholle Nelson, Friday, April 10, 2009.

Q: Is there a standard dollar amount or percentage that should be taken off a seller's asking price when considering how much to offer? Also, is it standard practice for a buyer's real estate agent to "get a feel" from the seller's agent as to whether an offer of $225,000 on a $250,000 house would be acceptable, prior to showing the house?

A: One advantage to working with a Realtor is that you gain the advantage of their experience and knowledge as to the standard real estate negotiating and transaction practices in your area. But what is standard differs in different areas -- and in real estate, markets are hyperlocal, so standard practices vary state by state, city by city, and even in different neighborhoods within the same city.  more...

Mobile sites get 'QuickFind' MLS tool

By Inman News, Friday, April 10, 2009.

Home buyers with Web-enabled mobile phones can find listing information on any property in their area by entering the first few numbers of an address into agent Web sites optimized for mobile devices by mobiManage.  more...

 
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