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Lousy numbers escape recession dunce cap

By Lou Barnes, Friday, May 30, 2008.

After six weeks in a narrow range, a little not-so-bad economic news blew long-term rates to the highs of 2008: the 10-year Treasury to 4.13 percent (the first time above 4 percent since New Year's) and low-fee mortgages to 6.375 percent. Both of those yields are better this morning, but we will not see five-something mortgages again without a new round of bad economic reports.

The psychology-reversing news came in two pieces. The rout started on Wednesday with the report of April orders for durable goods: down 0.5 percent, overall, but ex-transportation (airplanes and autos) up 2.5 percent, and "non-defense capital goods" plus 4.5 percent. Yesterday's coup de grace:   more...

Deck-staining that can't fail

By Paul Bianchina, Thursday, May 29, 2008.

Q: I have a deck that was built in October 2006. Does it need to be stained this soon? This will be my first deck-staining experience, and I was also wondering what things to be aware of, and if there are any suggestions for easier application, especially on the posts and railings. --Margaret M.

A: Staining a deck offers lots of advantages, and I recommend doing a new deck as soon as the wood has dried and settled in. Yours could be done at any time the weather conditions are appropriate, and should be repeated every couple of years, depending on weather conditions.  more...

Where's the beef in home-price reports? Premium Content

By Bernice Ross, Thursday, May 29, 2008.

(This is Part 2 of a two-part series. Read Part 1, "Put a gag on Chicken Little.")

The Case-Shiller Index portrays itself as being "the leading measure of U.S. home prices," according to a Standard & Poor's press release from April. Given how much press the index receives, it may very well be the leader -- the leader in inaccuracy.  more...

Pit bull service dog unwelcome

By Janet Portman, Wednesday, May 28, 2008.

Q: A tenant who is qualified to rent an apartment has asked us to allow her to bring her service dog, which is a pit bull mix. We aren't arguing over whether she is legally disabled, and we would normally allow the service animal on the property, even though we have a "no pets" policy. But our insurance policy forbids pit bulls, and if we allow one to live here, we risk cancellation or higher premiums. We don't want to be slapped with a fair housing lawsuit, either. What should we do? --Henry H.  more...

HOA washes hands of leaky skylight

By Benny Kass, Wednesday, May 28, 2008.

Q: I purchased a condominium unit 10 months ago and the roof around the edges of the skylight has started to leak. Our management company had their maintenance people look at it and opined that I need to replace it and the cost would be mine. I disagreed with them and they asked their attorney for an interpretation. The lawyer responded that I was responsible, but I know that he did not have all documents when making that opinion since he could not provide me with a copy of the floor plans.  more...

The open house workaround

By Teresa Boardman, Wednesday, May 28, 2008.

Last week's article, "In protest of open houses," caused some protests of its own, so I am following up with some thoughts on marketing and prospecting. I spend 10-15 hours a week prospecting -- every week without fail, no excuses.

Some readers contacted me directly by e-mail regarding last week's article. They all said the same thing. They are struggling to get business; the market is slow; and they have not had success with open houses and no longer want to do them. In every case, their broker/manager is telling them that they need to do more open houses. They were relieved to hear that not every agent believes in open houses.  more...

Despite economy, timeshares drum up big business

By Tom Kelly, Tuesday, May 27, 2008.

Timeshare buyers are cautioned about labeling their weeks as "investments." Think of it as "prepaid vacations," timeshare developers famously say.

While an investment, especially in real estate, often stands an excellent chance of making money, the usual return on a timeshare typically centers on enjoyment rather than cash.  more...

Homeowners needn't be afraid of stucco repair

By Bill and Kevin Burnett, Tuesday, May 27, 2008.

This week, the subject is stucco. One homeowner wants to know how to repair holes made during an insulation project; another wants to know how to hang a bike and a wisteria vine from her stucco wall.  more...

Sphere of influence has new meaning Premium Content

By Kris Berg, Tuesday, May 27, 2008.

Fellow agent and Inman News columnist, Alison Rogers, recently spoke of the friends-and-family plan when it comes to buying and selling real estate. This made me chuckle knowingly, for I have been burned more times than I am willing to admit by the "I have a friend" rejection. Occasionally, this friend will turn out to be a very competent, even proficient agent. Unfortunately, this is not always the case. Licensed agents in my state alone total 87 quadrillion to the 12th power. Every one of them is the friend or family of someone, yet I will wager a bet that not every one of them is among the very best real estate has to offer.  more...

HUD inspectors do buyers disservice

By Barry Stone, Monday, May 26, 2008.

Dear Barry,

I've been renting my home for seven years and am now in the process of buying it. I was approved for a HUD housing program and need to prepare for a HUD inspection. What conditions should my landlord and I look at before that inspection takes place? --Kathy

Dear Kathy,  more...

Help from feds not a bailout

By Jack Guttentag, Monday, May 26, 2008.

(This is Part 4 of a five-part series.  more...

More buyers using TICs to get into condos

By Benny Kass, Monday, May 26, 2008.

DEAR BENNY: I am considering buying a condo in San Francisco. It looks like most condos advertise taking title as TIC (tenants in common). Can you please explain a little more about TIC? What are the disadvantages and advantages? --Eton

DEAR ETON: Because this is a syndicated column that appears throughout the United States, my answer has to be general. You should consult your own attorney to assist you in your decision-making.

Oversimplified, there are four ways that title can be held for your own home:  more...

What to do if your home won't sell

By Dian Hymer, Monday, May 26, 2008.

Homes take longer to sell today than they did in 2005. This is due to a slow home-sale market that has resulted in a build-up of the inventory of unsold listings. Although there are exceptions, this situation is expected to continue until late 2008 or 2009 -- at least. What options do sellers have whose homes aren't selling quickly enough?

Many of the homes that aren't selling are priced too high for the current market. The median sale price of homes sold nationally in February 2008 was down 8.2 percent from a year ago, according to the National Association of Realtors.  more...

No downtime in a down market Premium Content

By Alison Rogers, Monday, May 26, 2008.

Yet another sign that my market is slowing down: Everyone is paying waaay too much attention to me.

I have two open deals, a sale and a rental. (Or I suppose I should say, two immediate deals where I represent the owners. There are multiple deals where I'm tangled up with buyers, but in this climate those people could be buying three years from now.)

So anyway, I found out last week that I was going to need surgery on Monday. So I told my sponsoring broker, handed him keys ...
 more...

Housing stars in economic freak show

By Lou Barnes, Friday, May 23, 2008.

Mortgage and Treasury rates have stayed within a tight range for six-straight weeks: 5.875 percent to 6.25 percent and 3.7 percent to 3.92 percent, respectively.

Given the lurching in other markets, the credit market stability may seem other-worldly, but it is not -- recent bond trading accurately reflects the current economy. We are still stumbling forward, avoiding one open manhole after another. The cardinal indicator: The labor market is still intact; there are no waves of layoffs; and new claims for unemployment insurance are just as steady as interest rates.  more...

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