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Patina is where the heart is

By Arrol Gellner, Friday, February 27, 2009.

A contractor once told me an interesting story about a house he'd built for a man in Connecticut. Winter was already setting in when he'd gotten the place weather-tight, so as soon as he finished the fireplace, he built a fire in it to keep the house warm. When the owner found out, he demanded that the contractor tear out the bricks inside the fireplace and replace them because they'd gotten sooty. He told the contractor that he was paying for a brand-new fireplace, and he was damned well going to get one.  more...

Icicles in attic a red flag

By Paul Bianchina, Friday, February 27, 2009.

Q: This summer we had siding installed around our house and we painted over the ventilation vents (husband's idea). My husband decided to cover the attic vent on top of the roof with a plastic bag because he said it would help seal the house better. I had a weird feeling about this, but I don't know anything about home repairs. Well, now we have a problem with condensation in our attic (that's what I think). He went up there last night and found that there were icicles on the frame.  more...

Budget plan strands financial stability

By Lou Barnes, Friday, February 27, 2009.
Flickr photo by <a href="http://flickr.com/photos/orinrobertjohn/3012838083/" target=blank>Orin Optiglot</a>.

A strange week, with some encouraging and some not-so-encouraging moments -- on balance, more uncertainty at the end than the beginning.

Mortgage rates rose to just above 5 percent, but we have made that trip up several times after a high-four bottom and then dipped again. The Treasury market was more worrisome: The 10-year jumped to 3 percent upon confusion in the financial rescue and release of President Obama's budget.  more...

Using repair-and-deduct at illegal rental

By Janet Portman, Thursday, February 26, 2009.

Q: We're renting a single-family home from a landlord who refuses to do basic repairs. When the hot water heater broke and the roof began to leak, we were forced to repair them ourselves and deduct the cost from the rent (our state law lets us do this). After getting a pay-or-quit notice, we did a little homework and discovered that the home never had a certificate of occupancy. What effect will this have on the landlord's attempt to evict us? --Jim and Janelle J.  more...

Pros and cons of FHA loans

By Tara-Nicholle Nelson, Thursday, February 26, 2009.

Q: I am looking to buy my first home this year. My mortgage broker keeps suggesting an FHA loan, almost like she is assuming that that's what I will choose. But some of my friends who bought recently say that they are more expensive and harder to get than a regular loan. What gives?

A: With subprime mortgages long gone and the credit crunch keeping conventional lending guidelines quite tight, FHA and other government-insured loans have become the mortgage of first resort for many first-time homebuyers and others looking to take advantage of the current buyer's market. In many respects, FHA loans are very buyer-friendly; however, there are some insider secrets every prospective FHA loan borrower should know before they even start their house hunt.  more...

Presenting picture-perfect property photos

By Teresa Boardman, Thursday, February 26, 2009.
HDR image by <a href="http://www.stpaulrealestateblog.com/.a/6a00d83451d6cf69e201116886a6f4970c-pi" target=blank>Teresa Boardman</a>.

I have more than a passing interest in photography. It is a serious hobby and a big part of my life. I take my own property shots, which is something I don't recommend for other agents unless they have more than a passing interest. Most of my clients have seen my work and they expect me to take the photos.

With my last two listings I thought I would try something different to really make the photos stand out. I used a process called high dynamic range, or HDR for short. The process involves combining three to five photos of the same scene with different light values into one photo.  more...

Landlord suspects illegal sublet

By Robert Griswold, Thursday, February 26, 2009.

Q: I have a rental house and during a recent drive-by to check on my property I noticed that there were two cars in the driveway that I had never seen in the past. I called my tenant and they told me that they had some family that is staying with them for the holidays. I allow my tenants to have guests for up to two weeks so I wasn't that worried. However, the holidays are over and yesterday evening I went by again and the cars are still there. The rental property has four bedrooms so I think they have sublet rooms in the house but are telling me that they just have visiting family. What do I do about these additional occupants?

A: Tenants frequently abuse the guest policy by having additional occupants in their rental unit for extended periods of time. But you may have trouble determining the difference between a temporary guest and a new live-in occupant. If you suspect that your tenant has added an additional occupant to the rental unit, your first step should be to talk with your tenant to find out what's going on.  more...

Wood shingles harbor host of problems

By Bill and Kevin Burnett, Wednesday, February 25, 2009.

Q: I live in a brown-shingle townhouse complex in which the state of the shingles is a frequent point of discussion. The buildings are now close to 30 years old, and the cedar shingles are untreated. Single shakes are cupping and drying out, particularly on the weather side, but most seem to be in decent shape.

A serious leak that was caused by this winter's heavy rainstorms seems to be related to a faulty glass sliding door and the shingles around it. It will require major balcony and indoor repairs.  more...

Seeking value? Think small metros

By Tom Kelly, Wednesday, February 25, 2009.

For the past 25 years, Mike Ela has been a numbers plumber for the housing industry.

He accumulates, analyzes and distributes U.S. property information, pulling from one source to help define and explain another statistic or trend. He has designed tools that determine home values, enabling potential buyers to take a more focused look at specific cities and neighborhoods.  more...

Much ado about compensation Premium Content

By Kris Berg, Wednesday, February 25, 2009.
Flickr photo by <a href="http://flickr.com/photos/woodysworld1778/2795931332/sizes/l/" target=blank>woody1778a</a>.

It's the debate that "just won't go away," I read.

"Hmm," I think. What could that be? Is it the debate about how we got to a place where millions of people have lost their homes and many more will likely fall victim to foreclosure in the coming year?

Maybe it is the conversation about how lenders are pricing their foreclosure inventory using the dartboard and dreidel method of valuation, dragging an entire market into the abyss in the process. (In the case of a tie, the Ouija board shall dictate.)  more...

A lesson in real estate rejection Premium Content

By Alison Rogers, Tuesday, February 24, 2009.
Flickr photo by <a href="http://flickr.com/photos/fboyd/2697110891/" target=blank>°Florian</a>.

I just got back from Montreal, a great city. We were there for five days and it was an amazing break. I knew I needed it, but I didn't know how badly.

But of course I'm a Realtor, so I kept working a little. In particular, I had a listing with an active bid, so I had told all parties that I thought my phone would work in Canada and we could keep tossing the ball back and forth.  more...

Aluminum wiring gives homebuyer pause

By Barry Stone, Tuesday, February 24, 2009.

DEAR BARRY: I have two questions about aluminum wiring in a home. Can home inspectors tell during an inspection if a house has aluminum wiring? If there is aluminum wire, can repairs make the system reasonably safe for my family? --Ann  more...

Local MLS, ads pay off for agents Premium Content

By Bernice Ross, Monday, February 23, 2009.

Where should you concentrate your marketing efforts in 2009? What strategies work with today's consumers and which ones should be discarded? The NAR Profile of Home Buyers and Sellers for 2008 provides some important clues that you cannot afford to ignore.

1. Increase your online advertising budget. If you're throwing your money into newspaper advertising, magazines or buying guides, you may want to shift some of those print advertising dollars to online advertising. According to the survey, only 1 percent of consumers found their agent through the newspaper, Yellow Pages, direct mail, or specialty advertising such as calendars and magnets.  more...

Home inspection: Don't buy without it

By Dian Hymer, Monday, February 23, 2009.

Easton v. Strassburger, a landmark California lawsuit in 1984, changed the way residential housing defects were dealt with when a home is sold. Before the Easton case, the credo was buyer beware. Today, few buyers would consider buying a home without first having it inspected by a competent home inspector.  more...

Tips for paying off mortgage early

By Benny Kass, Monday, February 23, 2009.

DEAR BENNY: I was reading in one of your columns about paying off your mortgage faster by making an extra payment each year. You said to make sure your coupon clearly indicates you are making an extra payment. I did this at the end of 2008, but didn't know whether it should go under an extra payment or payment on the principal. I paid it on the principal because otherwise it wouldn't show up until January as a payment.

I called the mortgage company and could not get a straight answer from them. I was told I could do it either way, which was not helpful. Did I do the right thing by paying the extra payment on the principal? I was setting up our payments to come out of our checking bimonthly so the extra payment would be included each year. We also have money going into our escrow account to pay our taxes and homeowners insurance. I am confused. --Lynette  more...

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