Home

Single-family activity up amidst record lows

By Inman News, Friday, May 22, 2009.

The U.S. Census Bureau and U.S. Department of Housing and Urban Development reported that single-family construction activity picked up in April compared to March, though the overall rate slumped to the lowest level on record due to a major slowdown in apartment construction.

The seasonally adjusted annual rate of housing starts fell 12.8 percent in April, to 458,000 units -- this rate is a projection of a monthly total over a 12-month period, adjusted to account for typical seasonal variation in construction activity.  more...

New ground for mortgage rates

By Lou Barnes, Friday, May 22, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/thetruthabout/2709292716/" target=blank>TheTruthAbout...</a>.

This week marked the first of several collisions ahead between markets and U.S. plans to borrow. Treasury yields have soared, but mortgages are holding in the fours.

New data failed to reinforce either the "Green Shooters" (economic optimists) or the "Agent Orangers" (economic pessimists), as prior historical guides are unreliable in a brand-new predicament.  more...

Index: Price declines leveling

By Inman News, Friday, May 22, 2009.

The price per square foot of homes improved from February to March in 11 of 25 metro areas tracked, real estate analytics and data company Radar Logic reported this week.

The composite price-per-square-foot index for the 25 metro areas fell 0.3 percent on a month-over-month basis in both February and March, which is less than the 1.2 percent and 0.9 percent declines in February and March 2008.  more...

Six LandAmerica subsidiaries sold

By Inman News, Friday, May 22, 2009.

Bankrupt LandAmerica Financial Group Inc. has been granted approval to sell off six more of its subsidiaries for $28.5 million, including two mortgage-related businesses to Fidelity National Financial Inc., and home warranty, home inspection and natural-hazard disclosure companies to Buyers Protection Group Inc. of Georgia.  more...

Get dose of 'Cool Houses' daily

By Inman News, Friday, May 22, 2009.

FrontDoor.com, an online real estate listing service, has introduced Cool Houses Daily, a feature that highlights the unique homes across the country.

Running Monday through Friday, the editors of the Web site choose one new home with a unique history or selling feature. Each house stays on their Web site for two weeks and is also displayed on social networking Web sites such as Facebook and Twitter.  more...

Mystery of the 'mud-jacked' driveway

By Paul Bianchina, Friday, May 22, 2009.

Q: My cement driveway is about 25 years old and certain spots became "mud-jacked" about nine years ago due to "settling." It is settling again in some areas and I'm wondering whether I should spot fix it again or redo the whole driveway and while at it make sure the foundation (adequate rebar, gravel etc.) is set up right. What's your advice?

A: Whenever I hear about the same problem occurring twice, I'm almost always in favor of doing some additional investigation, and that would be my thoughts in your case as well. It sounds like there might be some groundwater problems, poor compaction or other issues that are going on under the slab, and I'd want to get those looked at before proceeding with another repair.  more...

When cast iron was king

By Arrol Gellner, Friday, May 22, 2009.

For millenia, the only way to create a strong, durable, and fireproof structure was to build it out of stone or brick. Needless to say, this required plenty of time, material and effort, not to mention a lordly budget. But for most of man's history, this tried-and-true ancient method had to suffice.

There was finally a tantalizing glimmer of change in this situation toward the end of the 18th century, when a material long in use for other items -- cast iron -- began to be used in building. Pound for pound, cast iron was much stronger than stone or brick. Since it was cast in molds, it could be cheaply mass produced. And lastly, cast iron wouldn't burn.  more...

Trust can mend broker-agent relationship

By Inman News, Friday, May 22, 2009.

Aman Daro, vice president of integrated marketing for McGuire Real Estate, based in the San Francisco area, is coming to Real Estate Connect, which runs from Aug. 5-7.

Daro has a background in consumer marketing, is a "self-professed foodie and is obsessed with all forms of technology," according to an online profile. Hear him speak during a "killer Web sites" session at the conference.

He responded to a set of questions posed by Inman News:  more...

Losing the home-equity gamble

By Tara-Nicholle Nelson, Friday, May 22, 2009.

Q: I'm 61 years old and in a bad situation. In 2006, I paid my house off and retired as chief financial officer for a public company. I wanted to invest in a new technology, so I called this mortgage broker who was always sending postcards to me in the mail. I had very little income, but had just entered into an agreement to work part time as the CFO for a startup earning a six-figure salary. The mortgage broker was able to get me a loan with nothing more than my Social Security earnings documentation and a letter from the startup's president.

I pulled about $600,000 out of my home, with a first and a second mortgage (of course, now my home is worth only about $400,000). But I didn't realize that the first mortgage was a pay-option loan, so every month, my loan balance is going up. My investment opportunity flopped, so the money is gone.  more...