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Positive signs amid warning signs Premium Content

By Lou Barnes, Friday, August 28, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/yorkjason/162041457/" target=blank>Napalm filled tires</a>.

In this last, drowsy week of summer, long-term rates were unchanged: the 10-year T-note held under 3.5 percent, lowest-fee mortgages about 5.25 percent.

Summer has another three weeks to run to solstice, but it's all hands on deck next week before a late Labor Day to deal with the first August data, especially Friday's employment report. The change in payrolls announced that morning will clarify the dispute among the recovery camp, the stabilizing crowd, and the double-dippers.  more...

Buyer's big mistake with agent, repairs

By Tara-Nicholle Nelson, Friday, August 28, 2009.

Q: I heard that the best way to choose my real estate agent was by getting a reference. So I asked around, and got a referral to a friend of a friend. He's been a great guy to hang around with, but something is wrong. He's late all the time, and one time he even called me at the exact time we were supposed to meet, to say he was sitting down to get his hair cut, so he'd be a couple of hours late! Also, he's showed me a couple of places I like, but for the most part, the homes he shows me have none of the features I asked for.

The last straw was when I got into contract on this house, and after I paid for $5,000 of repairs that the city required to be done before letting us close the deal, he told me my loan "fell through." I don't even really know what that means, but after a year of house hunting, I'm moving on to another agent. What did I do wrong here?  more...

Lofty ideal lost on developers

By Arrol Gellner, Friday, August 28, 2009.

A while back, I got a solicitation from a local real estate agent whose client was ostensibly in the market for a "loft." The agent described her buyer's ideal loft -- apparently without irony -- as having "at least two bedrooms, two baths, (and) 1,500-plus square feet."

I wondered why the agent bothered using the term "loft" when it sounded more like her client was really in the market for a huge condo apartment, if not a fair-sized house.

Webster defines loft as "an upper room or floor" or "one of the upper floors of a warehouse or business building, especially when not partitioned."  more...

Attic conversion done right

By Paul Bianchina, Friday, August 28, 2009.

With a tough real estate market, many people are choosing to stay in their homes and remodel to suit their needs, rather than move. A good remodeling can create customized space and increase resale value, while allowing you to stay in your current neighborhood and not have to uproot the kids from school.

One possibility when looking for additional living space might be lurking right above your head: your attic.

Attic conversions can offer several advantages over conventional room additions.  more...

First-time investors key in on location Premium Content

By Steve Bergsman, Friday, August 28, 2009.

Alan Langston remembers his first rental investment: It was a Florida condominium located about 45 minutes from his home -- close enough to check up on the property if something went wrong.

A few years later, Langston transferred to the West Coast and after some consideration decided to keep the property, although it was, obviously, no longer going to be within driving distance. That old "Hey honey, let's go drive by our condo and see if it's being taken care of" wasn't going to happen anymore.  more...