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Finding right 'square' for the job

By Paul Bianchina, Thursday, July 2, 2009.

"Square." It's a term you hear often in construction, and it simply means to have two adjacent surfaces that are at an exact 90-degree angle to one another. Sounds simple, but having something square is crucial for everything from wall framing and door installation to cabinets and tile.

Checking that something is square is done with a tool called, not surprisingly, a square. There are all types of squares available, some with a dedicated purpose and some that will do more than one task around the home or shop. So when shopping for a new square, it pays to have some understanding of the function of some of the more common types.  more...

Bond market to Obama: Wake up

By Lou Barnes, Thursday, July 2, 2009.
White House Photo 1/29/09 by Pete Souza

News of a 467,000-job loss in June, one-third worse than forecast, is hurting stocks but no help to long rates: the 10-year is stuck at 3.5 percent, mortgages just under 5.5 percent.

"Green shooters" say the payroll weakness was magnified by temporary auto-plant closings, and they point to signs of bottom in auto sales and housing prices, and see optimism in the June ISM-manufacturing survey crawling uphill.  more...

How do you spell 'recovery'?

By Teresa Boardman, Thursday, July 2, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/andrewpescod/1970765755/" target=blank>Andrew Pescod</a>.

During the first recession that I lived through and was directly impacted by, my dad made the statement that our view on the state of the economy has to do with who we are and what our own situation is.

A person who is unemployed during a time of high unemployment believes that we are in a recession, as does a person who can't make his or her house payments. A person who has a good job and is earning enough to make ends meet will ride out a recession without feeling like we are in difficult economic times.  more...

Zillow crunches new refi limits

By Inman News, Thursday, July 2, 2009.

About 6.6 percent of conforming first loans have loan-to-value ratios above the new ceiling for the Obama administration's Home Affordable Refinance Program, compared to 16.6 percent under the program's old guidelines, according to an analysis by Zillow.

Zillow said that under the old 105 percent LTV ceiling, 14.6 million homeowners with mortgages might have qualified for the program. Raising the ceiling to 125 percent means another 5.6 million homeowners are potentially eligible for the program, Zillow said.  more...

Title premiums down 25% in Q1

By Inman News, Thursday, July 2, 2009.

Title insurance premiums slipped for the 12th consecutive quarter in the first three months of 2009, but the rate of decline has slowed, the American Land Title Association said in releasing industry statistics.

Title insurers wrote $1.98 billion in premiums during the first quarter of 2009, compared to $2.64 billion in premiums during the same period a year ago, ALTA said. The 25 percent year-over-year decline was less drastic than the 34 percent drop in the final three months of 2008 and all other quarters last year.  more...

Mortgage rates retreat from highs

By Inman News, Thursday, July 2, 2009.

Borrowers were paying less for fixed-rate mortgages this week than last, as rates continue a retreat from highs seen in early June, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage (FRM) averaged 5.32 percent with an average 0.7 point for the week ending July 2, down from 5.42 percent last week and 6.35 percent a year ago, Freddie Mac said.  more...

Manhattan sales down 50%

By Inman News, Thursday, July 2, 2009.

Second-quarter sales of Manhattan co-ops and condos were down 50.3 percent from a year ago, and the median sale price fell 18.5 percent to $835,700, according to a report by Miller Samuel Inc. for Prudential Douglas Elliman.

The median price of resale apartments saw a sharper annual decline of 25.6 percent, to $725,000, although that was an increase of 7.4 percent from the first three months of the year.  more...

Parking perks for disabled tenants

By Janet Portman, Thursday, July 2, 2009.

Q: We just rented an apartment in a condominium complex. We chose it because it's accessible for my wife, who uses a wheelchair. We were amazed when the condo owners' association told us that we cannot have a close-in parking spot for our exclusive use. Instead, they're suggesting we use a visitor's spot, which is wheelchair accessible, for pick-up and drop-off, and park permanently in the unit's designated spot. This spot is far away, on a slope, and next to a pillar -- totally unsuited for wheelchair use. Is this legal? --Tom and Sally G.

A: If you were renting in an apartment complex, the answer would be a sure and swift "no!" Apartment communities must give disabled tenants close-in parking if they need it in order to live comfortably and safely on the property. This rule will trump any policies to the contrary, such as a "first-come, first-served" approach to allocating parking spots.  more...

A stickier real estate Web site Premium Content

By Joseph Ferrara, Thursday, July 2, 2009.
<a href="http://www.apture.com">Apture</a> screenshot.

I want to share with you what I consider the best Web site tool to help keep readers engaged on your Web site. But first, some comments about Web site stickiness.

When referring to Web sites, stickiness is defined as the amount of time spent on a site over a given period of time. The longer you can keep readers on your Web site or blog, the more information they can get and the better the chances they will contact you for business.  more...