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Risk of 'second Depression' fades

By Lou Barnes, Friday, May 8, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/preciouskhyatt/2175222723/" target=blank>preciouskhyatt</a>.

First, the miracle of loaves and fishes: Economic optimism and immense deficits combined to blow up the Treasury market, but mortgage rates have held in the fours.

The 10-year T-note had traded deeply in the twos since Thanksgiving, never above 3.02 percent, and yesterday spiked to 3.36 percent. With mortgages in the high fours, the spread to the 10-year is as narrow as ever, half last summer's, held only by the Fed's promise to buy another trillion worth of mortgage-backed securities in the remainder of this year.  more...

Forgoing inspections on REO backfires

By Tara-Nicholle Nelson, Friday, May 8, 2009.

Q: I just closed escrow on a home that was a bank-owned property. My sister was my Realtor -- she doesn't work with many buyers, but she agreed to help me and to give me her commission toward my closing costs. I didn't have much money, but we just barely made it -- I couldn't even afford inspections. It was a very stressful transaction, as the lender really made us jump through lots of hoops that I didn't think were normal things to have to do, and we closed escrow several weeks late.

The problem now is that we can't use the bathroom, the tub or even the kitchen sink at my house -- when they are supposed to be draining, they just overflow into the living room, so much that the carpets I just had cleaned are now all mildewed and water damaged.  more...

What gives home 'good bones'?

By Arrol Gellner, Friday, May 8, 2009.

Now and then, you've probably heard people describe some interesting old house as having "good bones." But what do they really mean by this? What gives one house better "bones" than another? The answer lies in an aspect of architecture that's little appreciated and even less understood: composition.

Many people assume that the way a house looks from outside is just the inevitable consequence of the room layout within. But this is a modern conceit brought on by the idea -- equally modern -- that "form follows function." For all the modernist talk about buildings reflecting their internal functions, though, modernist architects were even more attuned to the need for artful composition than their predecessors were. They were fastidious in arranging the purportedly functional features of those otherwise stark facades -- juxtaposing big window against small, high roof against low -- to wring more drama out of their compositions.  more...

Do-it-yourself roof repairs

By Paul Bianchina, Friday, May 8, 2009.

Now that the weather is nicer, it's the ideal time to take care of any roofing problems that may have come up, and certainly the most obvious place to start is with the shingles themselves. From ground level, examine your roof as a whole. Are a substantial number of shingles either missing or damaged? Are composition shingles curling up at the ends, or missing a lot of the mineral granules that cover them? Are wood shakes or shingles cracked, brittle, or no longer laying flat on the shakes below?  more...

Realtor.com parent loses $10.6M in Q1

By Inman News, Friday, May 8, 2009.

Realtor.com operator Move Inc. reported a first-quarter net loss of $10.6 million, or 7 cents per share, citing $1.9 million in severance pay and $8.7 million in stock-based compensation charges associated with executive departures and an incoming CEO.  more...

Century 21 announces Realtor.com ad deal

By Inman News, Friday, May 8, 2009.

Century 21 Real Estate LLC this week announced an agreement that will enhance property information that the company's franchisees supply to real estate search site Realtor.com.

The "Gold Standard Partnership" subsidizes the cost of listing enhancements for its franchise owners.  more...

Mortgage rates bounce off lows

By Inman News, Friday, May 8, 2009.

Rates on mortgages eligible for purchase by Freddie Mac bounced back slightly from last week's record lows, but remain well under 5 percent.

The 30-year fixed-rate mortgage averaged 4.84 percent with an average 0.7 point this week, up from 4.78 percent a week ago but down from 6.05 percent a year ago, Freddie Mac said in releasing results of its weekly survey of lenders.  more...

 
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