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Housing is 'gorilla' in economic slowdown

By Lou Barnes, Thursday, September 28, 2006.

Long-term interest rates and commodities are in the natural rebound upward following any straight-line decline.

The 10-year T-note is 4.64 percent (from 4.54 percent), taking mortgages a little above 6.25 percent (6.125 percent bottom), gold $605 (from $575), all in step with energy: oil $63 (from $59), and natural gas $5.45 (from $4.75). Only gasoline is still unwinding, and wholesale $1.48 might break two bucks at the pump after Halloween.

All of these markets are struggling to identify the slope of economic slowdown.  more...

The media call Premium Content

By Alison Rogers, Thursday, September 28, 2006.

I have worked in media long enough that I think I'm pretty immune to it: I know that the difference between who appears in a newspaper and who doesn't is a matter of connections and timing. Sometimes it's sheer luck that a story appears at the same time as a news hole.  more...

Web 2.0: the next generation of real estate revenue Premium Content

By Bernice Ross, Thursday, September 28, 2006.

Do you believe that the only way to make money on the Web is to convert a lead into a listing or sale?  more...

China does urban living right

By Arrol Gellner, Thursday, September 28, 2006.

In China, single-family homes are rare, and the vast majority of people live in what Americans would charitably call high-rise apartment blocks or, put less delicately, projects. As dismal as these may sound (and as dismal as they sometimes appear), the neighborhoods that form around these Chinese projects really work. They're far from tidy and seldom beautiful, but on the whole they're livelier, safer and more inviting at all hours of the day than any American equivalent. They are as successful as most American housing projects have been catastrophic.

Why?  more...

Insulating a crawlspace the Norwegian way

By Paul Bianchina, Thursday, September 28, 2006.

Q: I'm originally from Norway and I've seen several Norwegian Web sites that say you should cover the underside of the insulation in your crawlspace with exterior-grade plywood. However, the American sites say to leave the bottom of the insulation open or to cover it with a non-tight covering. I tend to trust the Norwegian way of doing things because they have to deal with such crazy weather, but I want to make sure I'm not missing something here if I don't do it the "American" way. --Rune I.

A: Air will naturally move from a warm area to a cold area.  more...

Beware of homes built before 1978

By Robert Bruss, Thursday, September 28, 2006.

Most buyers, sellers, landlords and realty agents still don't understand the simple, but potentially costly, liability disclosure rules for pre-1978 houses, condos and apartments.  more...

Can tenant break lease days after signing contract?

By Robert Griswold, Wednesday, September 27, 2006.

Question: Recently my mother signed a lease and paid a deposit for an apartment and decided it was not the right choice for her. She contacted the landlord within two days (verbally) and gave a written letter within three days. The landlord said it was fine but then changed his mind and now wishes to hold her to the lease.  more...

Bad news for unrecorded real estate deed

By Robert Bruss, Wednesday, September 27, 2006.

DEAR BOB: Must a deed be recorded to be considered valid? Is a deed not a contract regardless? --Irvin S.

DEAR IRVIN: Without recording in the public records where the real property is located, a deed properly signed and notarized or witnessed is valid only between the grantor and the grantee.  more...

Remedy sought for soggy, smelly crawl space

By Bill and Kevin Burnett, Tuesday, September 26, 2006.

Q: We have been plagued by moisture in the crawl space of our home (built in 1978).

A French drain system surrounding our house was installed two years ago. A pest inspection at that time indicated there were no pest or mildew problems. However, when it rains, we get a terrible odor in our home. It smells of wet chemical earth.

Should we have heavy plastic installed in the crawl space? The pest inspector said the earth would never dry out then. But other home gurus on television and the Internet seem to advise doing this.  more...

Identity theft becomes homeowner's worst nightmare

By Robert Bruss, Tuesday, September 26, 2006.

Without her knowledge, an unknown perpetrator used the name, Social Security number, credit history and identification of Aurora Lepe to purchase a residence and obtain two mortgages secured by the property.

Lepe's signatures on the documents were forged. Due to nonpayment of its mortgage, lender CTC Real Estate Services sold the property at a foreclosure auction sale.  more...

Are seller-carryback mortgages risky?

By Robert Bruss, Tuesday, September 26, 2006.

DEAR BOB: If I sell my rental house to my tenant and carry back a mortgage for my buyer, what happens if the buyer-tenant goes bankrupt? Is there any way I could lose my right of foreclosure to some other creditor? --Bill K.

DEAR BILL: No. Your seller-carryback mortgage (or deed of trust) should be secured by the rental house you sell to your tenant.  more...

Seller's presence at inspection creates distress

By Barry Stone, Monday, September 25, 2006.

Dear Barry,

When we had our home inspection, the seller was present during the entire process. We never felt free to converse candidly with our inspector. Shouldn't the inspector or our agent have asked the seller to excuse himself during the inspection? --Michael

Dear Michael,

The casting of participants at a home inspection can sometimes be very touchy, depending upon the personalities involved. There are no set rules that determine whether sellers should be absent or present during an inspection, and scenarios vary widely.  more...

Homeowners eye real estate exchange, hit legal hurdle

By Robert Bruss, Monday, September 25, 2006.

DEAR BOB: My wife and I plan to use our home equity to purchase an investment property. We wanted to do an Internal Revenue Code 1031 tax-deferred exchange, but I recently discovered we can't do such an exchange with our personal residence. So we now are thinking of moving out of our primary residence and renting it for a while so we can later do an IRC 1031 exchange. How long must we rent the house before exchanging it to defer the tax?  more...

Best ways to add real estate value

By Robert Bruss, Monday, September 25, 2006.

When I first picked up "Confessions of a Real Estate Entrepreneur" by James A. Randel, I wasn't enthused by its bland, noncreative cover, which makes the book look dull and boring. Wrong. Instead, it is one of the best real estate books of 2006 so far because it tells how a super-successful investor evaluates real estate opportunities.

What makes this new book so unusual is the self-deprecating author emphasizes his real estate mistakes as much as the highlights of his successes.  more...

What can home buyers expect sellers to fix?

By Dian Hymer, Sunday, September 24, 2006.

Negotiating a purchase contract isn't easy when home sellers cling to expectations based on last year's real estate market, and buyers refuse to overpay. Equally challenging are the renegotiations that can occur after buyers do inspections.

How do you successfully navigate the second round of negotiations? The goal is to come away from the bargaining table feeling that you've struck a good deal, ideally without alienating the sellers. After all, you may need to impose on the sellers for return visits to the property before closing.  more...

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