Third Way for FHA

Washington seems to agree it's time to change the Federal Housing Administration to help lenders get out of bum loans. Now three proposals are bouncing around the Hill to make it happen. Which one will pass? Bet on Bush's plan.

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Colorado Considering Policy for Renewable Energy Financing

The citizens of Colorado, unlike any other state in the country, might have a chance to get low-interest loans to install renewable energy systems and make conservation efforts in their domiciles - all backed by the bonding authority of the state and local governments. Why isn't Congress following this model?

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Home Stealing - Walking Away with an Immovable Object

According to the FBI, con artists have started a new form of game - stealing houses. Even the most immovable object most people own can be stolen right out from under their noses, even if the are still living in them.

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HUD Smacks Subdivision and Zoning Committee in Texas

The U.S. Department of Housing and Urban Development announced today that it has charged Crow-Billingsley Air Park, Ltd., Airpark GP, L.L.C., and Air Park–Dallas Zoning Committee, owners of Air Park Estates, with violating the Fair Housing Act.

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Housing Sales Slump Produces a Buyers Market

On Monday, February 25, 2008, The National Association of Realtors announced existing home-sales had dropped 0.4 percent in January, 2008 from the December, 2007 level. This slippage reflects a 23.4 percent reduction from January, 2007.

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Real estate: Buy, sell, or hold?

You can't blame America's homeowners for feeling hopelessly confused. From suburban porches and city terraces, they're gawking at a housing world gone mad. Just 18 months ago, folks on a tony Linden Lane or a leafy Boxwood Court were astounded to see the colonial their neighbors bought for $600,000 in 2000 sell for $1.5 million after multiple bids.

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A Mortgage Underwriters View of the Sub-Prime Crisis

Many experts have speculated that greed is the cause of the current mortgage crisis. For the past 15 years I worked in that industry. It is my opinion there are many causes for the current problems but greed was definitely a factor.

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Dealing With Nicotine Stains on Walls

Besides being unhealthy, nicotine also causes damage to the home of a smoker. It gets into the furniture, the carpet, the curtains, and the walls. A home of a smoker will eventually show unsightly yellow stains of various sizes on the walls, nicotine stains. Such stains are difficult to remove, especially from the walls and ceiling.

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Should the federal government offer foreclosure bailouts?

There are many perfectly honest, hard working people caught in the trap set for them by predatory lenders who should be protected by the government. But there are also those who were rolling the dice, much as those lenders were, who knew they were taking a gamble much like the stock market or Vegas who should take their lumps.

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California sees record $5 billion in foreclosure sales

October foreclosure sales increased by 40 percent from September with a total of 12,336 properties – with a loan value of $5 billion -- sold at auction statewide, according to figures compiled by ForeclosureRadar.

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HUD CHARGES CHICAGO LANDLORD WITH VIOLATING FAIR HOUSING ACT

The U.S. Department of Housing and Urban Development announced today that it has charged Cesar A. Lopez, a Chicago landlord with housing discrimination for posting an on-line ad that discriminates against men and families with children.

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Five Warning Signs of a Bad Landlord

Shopping for an apartment? Still having trouble making up your mind on which apartment to take? There are several warning signs to watch out for while you're looking for a place to rent that indicate you could be taking over an apartment with a rotten landlord. Here are five warning indicators that the landlord might be more trouble.

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5 Warning Signs of a Bad Landlord

Shopping for an apartment? Still having trouble making up your mind on which apartment to take? There are several warning signs to watch out for while you’re looking for a place to rent that indicate you could be taking over an apartment with a rotten landlord. Here are five warning indicators that the landlord for the apartment might be more trouble than the apartment is worth.

The “I Don’t Know” Landlord

You should have a checklist with you, either memorized or even better, on a clipboard that you take along, with several key questions that are important to you. Get answers to those questions – a good landlord will either know the answers off the top of their head, or be able to get it to you in a reasonable length of time. The “I Don’t Know” landlord doesn’t know the apartment or its amenities well enough, or care enough to know, to be helpful to you after you move in.

The “What a Dump” Landlord

These landlords will show you – anything. In a tight rental market, or with an aggressive property manager, you will probably be looking at an occupied apartment. If that apartment is in a shambles, and the landlord doesn’t seem to care – you’re in trouble.

You’re in even worse trouble if the landlord shows you a vacant apartment which is a total wreck. This sort of landlord really doesn’t care, and odds are, won’t take care of the apartment after you move in, either.

The “Not This One” Landlord

This landlord shows you an apartment, then tells you that this is not the apartment you will actually be living in, but you will get one “just like it.” Even in a brand new building, that is a physical impossibility.

Model apartments are fine if an apartment complex is still under construction – but beware model apartments in a building or complex that is finished. It is easy to maintain and keep up appearances in an apartment in which no one has ever lived, and an entirely different ball game for one that has been occupied.

The worst-case scenario is that the actual apartment you lease will be a total nightmare, with appliances that don’t work, carpeting that is a wreck (if there at all), mold and mildew evident – you get the picture. Only agree to rent an apartment that you have actually seen.

The “No Samples” Landlord

You should have an opportunity to review the lease agreement before you sign it. A high pressure landlord will want you to put down your deposit on the spot, without a chance to review the lease. A bad landlord will refuse to give you a sample of his lease, and expect you to sign it unseen by you, or your attorney.

The “I Never Come Here” Landlord

You pull in, the grounds are littered with trash, the parking lot looks like there was a party there this morning, and the FOR RENT sign is covered in graffiti. A good landlord visits their properties on a regular basis, or has someone doing so, and keeps the exterior (at a minimum) spic and span. A landlord who never visits his properties to check on these conditions is unlikely to respond very quickly to your clogged toilet, leaking faucets, or a hole in the roof.

Keep these five warning signs of a bad landlord in mind while shopping for your next apartment, and your next rental experience could be a good one.

The Difference Between Condos and Coops

The difference between owning a condominium and a cooperative apartment are night and day. Condos and coops might seem the same on the surface, but one key factor separates the two and should impact your decision on which to own.

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How To Choose A Retirement Community

Several of the critical questions to ask, and issues to ponder, while searching for a retirement community for yourself or a loved one. Are you looking for short term - or a final home after you retire? How do you choose a retirement home with the right package for you?

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How the Economy Is Affecting the Home Building Market

Currently, many economists are arguing over what causes the home-building market to suffer. Some speculate that the supply is not meeting the current demands, since there are still many homeless families. Everyone in the home-building field is feeling the crunch, due to the market's unrest.

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First-time real estate investors: How to choose

Helpful tips for choosing the right property - and kind of property - for that first time real estate investment.

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The Advantages of Green Construction for Your Business

A great article with tips for commercial construction to go green and conserve energy.

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E-Bikes: Environmental Boon or Bane

A look at the true environmental impact that 40,000,000 electric bikes are having in China. Are they helping China's cities become even more congested, without any real improvement to overall air quality?

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Fed's Rate Cuts - No Effect on Homeowner's in Foreclosure

A look at the actions being taken by the Federal Reserve which only helps the wealthy

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Federal Reserve lowers rates no reverse to mortgage meltdown

The Federal Reserve, and the entire federal government, is leaving 15 million people to go homeless through inaction

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Stock Markets Plunge Worldwide

Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor pessimism over the U.S. government's stimulus plan to prevent a recession.

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Has HUD Overstepped Its Authority?

A look at a recent ruling by HUD, in which the landlord was forced to make their management bilingual

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Avoid Five Common Pitfalls of Buying a Home

Have you decided to buy your first home? Avoid the five most common pitfalls that lie in wait, and could turn your dream of home ownership into a nightmare.

1) You need to get the house inspected. Ever since the boom in the home inspection industry started in the 1980s, many states require that home inspectors at least be licensed, and many require they receive special training to get the license. Ask to see their license, and ask for a list of their clients from six months ago for you to call. Note I said from 6 months ago – not last week. You want to assess whether or not the inspector actually found the problems that have surfaced for the buyer. Most problems with a property will surface in that short time.

2) Use a reputable appraiser - of your choosing. Appraisers are licensed real estate professionals familiar with the local market, but their skills vary as do their loyalties. Get suggestions from the real estate agent, but use caution. The agent is working for the seller, not you! Also, make sure any appraiser the agent suggests is acceptable to the lender you will be working with. Choosing the wrong appraiser could force you to come up with more cash than you had planned, or you could wind up having to get a second appraisal because a particular appraiser’s credentials are not acceptable to the mortgage lender.

3) Budget wisely! Many first-time home buyers do not realize the hidden costs of owning a house. Plan on a minimum of five percent of your gross (pre-tax) income being devoted to the maintenance and upkeep of the home, whether the home is new or existing. Invest that amount away every year in a liquid fund, like a mutual fund or short-term CD. You don’t want to be left in the cold when the furnace goes out and needs to be replaced.

4) Do not offer full price. This may seem like common sense, but many people do so only to discover they will have to come up with a larger down payment than they expected. Keep in mind, the price of the house was set anywhere from five to 15 percent higher than the seller is willing to accept. This is especially true if there is a real estate agent working with the seller, who has access to sales records indicating what the actual value of the house will be on the open market. Also to bear in mind - the agent has a hidden psychological motivation to pressure the seller into accepting a reasonable price, since they only get paid when the house sells.

5) Do your homework! The first house you see may seem to be your ‘dream’ home, but take your time. Most homes take roughly ninety days from the time they go on the market before a buyer is found, so you can look around and possibly find one you’ll like even better. The longer a house sits on the market, the more likely it is that the seller will accept a less-than-full-price offer.

Research the neighborhood. Get crime statistics from the police department. If you have children going to public school, look closely at the school choices and how the district meanders, and make sure that the house you are purchasing actually lies within the district.

Check for the availability and accessibility of essential services, such as groceries, pharmacies, etc. If it is a rural property, find out the condition of the well and septic system.

By avoiding these common mistakes, you can find the right house for you and your family, and make owning your own home a joy versus a disaster.