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Intercepting the credit-default spiral

By Lou Barnes, Friday, January 9, 2009.

The Fed's purchases of agency MBS (mortgage-back securities) have succeeded in capping mortgage rates near 5 percent with the lowest fees (1 percent origination easily buys high-fours).  more...

Reconstructing the listing presentation

By Bernice Ross, Friday, January 9, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/lumaxart/2136953043/" target=blank>lumaxart</a>.

Are you still working with an old, outdated listing presentation from the 20th century? If so, there's no better time than now to make the shift from doing listing presentations to doing "listening consultations."

Recently I was conducting a new agent training class. During the lunch break, the parent company did a webinar featuring four very successful new agents. Here's what one of the new agents advised the listeners on the call:  more...

Overwhelmed by kitchen floor options?

By Paul Bianchina, Friday, January 9, 2009.

The floor in your kitchen has to wear a lot of hats. It has to be able to withstand the rigors of lots of foot traffic. It needs to be water-resistant and be able to stand up to repeated cleanings. It has to be able to withstand grease, spills, drips and other indignities -- and it has to look good doing it!  more...

Upside down on home? Don't panic yet

By Tara-Nicholle Nelson, Friday, January 9, 2009.

Q: I got an interest-only loan on my house three years ago, and while I still have two more years on this loan, my house is upside down on what I paid for it versus what I could sell it for today. Is there any help for people like me with a bad loan?

A: First things first. There is no such thing as a "bad loan"; there are just improper uses of loans.

I have never met a loan I couldn't envision a legitimate, proper use for. Don't believe the hype that says if you don't have a 30-year-fixed-rate mortgage your sky is necessarily falling.  more...

Shocking conditions in college-town rental

By Janet Portman, Friday, January 9, 2009.

Q: My son just graduated from college and moved into a basement apartment in the college town. Last week while visiting, I came across pipes in his pantry that were wrapped with deteriorating asbestos -- powder and dust was all around and on the shelf. My son called the owner and it took her two weeks to get someone there to look at it. In addition, the oven coil does not work, the oven is filthy, the bathroom stinks, and the landlady won't do anything.  more...

Best loan rates come at a price

By Ilyce Glink, Thursday, January 8, 2009.

Q: I read your recent article, "Cancel refi, lock in lower rate," and felt compelled to comment.

My husband and I run a small brokerage in Portland. While we always try to get the best deal for our clients, they too have some responsibility when it comes to locking in a rate.

Pulling files from lenders after locking them damages the broker's file delivery rating with the lender. Doing so too frequently will result in termination of the brokerage agreement with that lender.  more...

Kid-proofing your home

By Bill and Kevin Burnett, Thursday, January 8, 2009.

Q: My daughter is 21 months old. We need to install fasteners in plaster walls to secure the furniture. Is there an easy way to accomplish this? The house was built in 1910, so we assume it has wood lath under the plaster. Can we find studs in this type of wall?

A: Ah yes, the terrible twos. Kevin remembers them well. Daughter Katie spent most of her time exploring, trying stuff out and pulling it down. There was an occasional mess on the floor when Katie zigged when an older child would have zagged. No major mishaps though.  more...

Home financing to get 'creative' in '09

By Tom Kelly, Thursday, January 8, 2009.

Searching for a home can be draining in "normal" times. When inventory is high and home mortgages are more difficult to obtain, the process of finding a property and securing financing can be downright exhausting.

"Creating financing" is one of the items that is "in" for 2009, according to an annual survey conducted by Mark Nash, a Coldwell Banker broker and real estate author who uses a network of 839 Realtors in all 50 states and eight Canadian provinces to acquire consumer responses to a variety of housing questions.  more...

Tenants eye renovation discount

By Robert Griswold, Thursday, January 8, 2009.

Q: For six years I have lived in a beautiful six-townhouse complex with a common courtyard. The other tenants and I have become such a close-knit "family" that we even spend holidays together. Last year, a new owner bought the place and he clearly is interested in maximizing his income. In one year, he not only raised our rent by 3 percent but we have seen fliers indicating that the newly renovated units will go for almost double our current rent!  more...

Just say 'no' to light pollution

By Janet Portman, Thursday, January 8, 2009.

Q: I rent an apartment in an area consisting exclusively of apartment buildings. All of the apartment buildings around me, including the giant construction site behind my building, have huge flood lights (without any sort of light shade) along the property perimeters. If I were to open my shades at night, the ambient light is almost enough to read by. Keeping the shades drawn in the summer means that I get practically no fresh air.  more...

Five ways to cut heating costs

By Paul Bianchina, Wednesday, January 7, 2009.

If you're thinking it's time to do something about your cold house and your high heating bills, here are five win-win suggestions that will help you do both.

1. REPLACE YOUR FURNACE FILTER
A clogged filter makes your furnace work harder to deliver the same amount of heat, which wastes energy by keeping the furnace on for a longer period in order to bring the house up to the requested temperature.  more...

A lesson in real estate education

By Teresa Boardman, Wednesday, January 7, 2009.
Flickr photo by <a href="http://flickr.com/photos/dcjohn/74907741/" target=blank>dcJohn</a>.

As I begin the year with my business plan and budget in place I have been thinking a lot about education.

I used to work in a real estate office where there was this agent -- I'll just call him "Sam." Sam was the master of finding free continuing education courses (CEUs). As real estate licensees in Minnesota we are required to take 15 CEUs every year.  more...

Selling in '09? Follow these rules

By Ilyce Glink, Wednesday, January 7, 2009.

By the time the dust settles, one thing will be clear: 2008 will be a year most home sellers, homeowners and lenders will want to forget.

At the end of 2006, home prices had dropped 3.5 percent. At the end of 2007, home prices dipped again. And home prices in 2008 had dropped by double-digit amounts in major parts of the country, according to the National Association of Realtors. In California, the median home price plunged 41 percent from a year ago, according to the California Association of Realtors (although the number of days on the market is shrinking as is the overall housing inventory in that state).  more...

The roof that lasted 10 years

By Bill and Kevin Burnett, Wednesday, January 7, 2009.

Q: I got a 25-year warranty on my roof when it was installed in 1995, then with all the rain in 2005 my insurance company inspected the roof and advised I needed a replacement. When I called the roofing company that had installed the roof, it had gone out of business, and the referral phone number went to another company.

When I showed the new roofer my warranty, he said it could be honored only by the installer. He would give me a new warranty with the installation of a new roof. I said OK.  more...

Real estate wake-up call

By Kris Berg, Wednesday, January 7, 2009.
Flickr photo by <a href="http://flickr.com/photos/laffy4k/367822192/" target=blank>laffy4k</a>.

"Make money while you sleep!" promised the nice spammy-man in my inbox this morning. Not only can I make money in my sleep, it seems, but I can also be socking it away in the old retirement account while I'm on vacation or even out shopping. Except, he's wrong. That was 2003.

Ah, 2003 -- and 2004, and 2005. Those were the wonderful "tweens." Back in the glory days, taking a listing triggered a very predictable chain of events.  more...

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