Tokyo, Japan

Tokyo, Japan consistently earns the distinction of being the world's most expensive city in which to live. According to the most recent economic survey, a luxury two-bedroom unfurnished apartment in Tokyo rents for about $4,595 a month. A cup of coffee in a Tokyo café costs a little over $4.
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Islamic mortgages

Sharia law prohibits the payment or receipt of interest. This means that practicing Muslims are not able to borrow money for a home purchase through conventional mortgages. To work within these parameters, banks have developed the "Islamic" mortgage where the bank buys the property and the buyer rents it at a slightly higher price under a lease-to-own assumption.
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Cul de sac

Cul de sac is a French phrase that literally translates into "bottom of the bag." A cul de sac is a street or alley that is closed at one end, usually with a circle or turnaround area at its end. The phrase has replaced the less subtle "no outlet" or "dead end" street designations.
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Real Estate Daily

Caveat emptor is the legal principle derived from Latin that means "let the buyer beware." The opposite of caveat emptor is caveat venditor or caveat vendor, meaning "let the seller beware."
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Andrew Carnegie

"Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate." - Andrew Carnegie
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Electricity

According to data collected by NUS Consulting, the average price of electricity in the U.S. spiked by 5.2% from April 2004 to April 2005, one of highest increases ever recorded in the United States. Customers in California, New York and New Jersey pay the highest electric prices, while those in Ohio, Virginia, and North Carolina pay the lowest prices.
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REBAC

The Real Estate Buyers Agent Council (REBAC) is a professional organization that promotes buyer representation skills and services in the real estate industry. REBAC offers the "Accredited Buyers Representative" designation and the "Accredited Buyers Representative Manager" designation. REBAC was established in 1988 and has 40,000 members.
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An acre

An acre of land is 43,560 square feet. The term was traditionally used in farming to represent the area that could be plowed in one day by a farmer and a yoke of oxen. The term Acre is derived from the Latin word "ager" and Greek word "agros", meaning field.
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Mortgage101.com

Mortgage101.com is a leading online mortgage data and education service. The website offers a vast array of data and article information regarding mortgage interest rates, lenders, and loans. It also offers several useful loan calculators, resource directories, real estate news, and commentary. Mortgage101 was established in 1996 and registers about 750,000 monthly visitors.
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New home sales

According to several studies, in a given year, roughly 20% of homebuyers will purchase newly constructed homes while the remainder will purchase existing homes. New home sales vary by region. Newer, faster growing areas usually experience higher proportions of new home sales than larger, established areas.
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American brick building

The Dutch West India Company built the first brick building in the United States in New Amsterdam (Manhattan) in 1633. The brick residence for the fifth Dutch governor Wouter Van Twiller was erected with Holland brick, made in nearby kilns.
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Aladdin

The Aladdin company sold pre-cut, mail order homes out of a catalog from 1906 until 1982. Brothers William and Otto Sovereign started Aladdin with a small, one-time ad in the Saturday Evening Post. In addition to catalog homes, Aladdin also sold whole towns complete with schools, churches, firehouses, sidewalks and roads. Hopewell, Virginia was created by Aladdin in 1914.
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Monopoly

The real estate board game Monopoly was invented in 1934 by Charles B. Darrow. His first version of the game was rejected by Parker Brothers due to design flaws. After Darrow sold 5,000 handmade sets of the game to a Philadelphia department store, Parker Brothers agreed to sell the game. Since then, over 200 million Monopoly games have been sold worldwide.
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A bridge loan

A bridge loan is a short-term loan that is used until a borrower secures permanent financing or removes an existing obligation. A bridge loan is usually used to finance a buyer's new residence if the buyer is unable to sell his current residence. The interest rate is higher than conventional mortgage rates and the loan is backed by some form of collateral such as real estate.
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Dollar Homes

HUD's Dollar Homes initiative allows local governments to purchase qualified FHA-owned homes for one dollar. These are foreclosed, single-family homes that FHA has been unable to sell for six months. Local governments can partner with non-profit homeownership organizations to create housing for families in need and to benefit neighborhoods.
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Condominium cruise ships

The first condominium cruise ship was launched in Oslo in March 2002 by Norwegian Cruise Lines. Passengers paid outright for their condo cabins aboard the 644-foot vessel named "The World." The cruise ship was launched to sail the world for the fifty-year term of the leaseholds, visiting more than one hundred ports a year in dozens of countries.
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The Homestead Act

The Homestead Act became a law on January 1, 1863. The act allowed anyone to file for a quarter section (160 acres) of free land. The land was yours at the end of five years if you had built a house on it, dug a well, plowed ten acres, fenced a specified amount, and actually lived there. Additionally, one could claim a quarter section of land by successfully cultivating ten acres of timber.
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Real estate job turnover

The turnover rate in the real estate sales business is reported to be one of the highest in all job categories. Some estimates put the turnover rate at 50% in the first two years, and up to 98% within five years. Reasons cited for the high rate include the irregular work hours, uncertain commission-based pay structure, and unmet or unrealistic job expectations.
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Natural disasters

Every region of the U.S. is exposed to one type of natural disaster or another. Forbes Magazine and Sperling's Best Places compiled weather, hurricane, tornado, earthquake, and brushfire data to find the safest locations in the U.S. According to the study, Honolulu, Hawaii and Boise, Idaho are the safest places. The least safest places are Monroe, Louisiana and Jackson, Mississippi.
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Professional paint

Professional painters may take up to four days to prepare, prime and paint an average-size room. Here are some professional painter tips: take everything out of the room; do not skimp on the primer; use two coats of quality paint; use paint with built-in mildew fighters in kitchens and baths; use a painters-rod instead of a ladder to reach high areas; use high-quality brushes; and paint top-down.
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The Federal Superfund

The residential community of Love Canal, near Niagara Falls, was built during the 1950s and 1960s on top of a chemical deposit sealed in clay. After years of odors and skin irritation among residents, New York State investigated and found toxic hazardous waste. This event led to the subsequent development of the Federal Superfund for cleaning and containing hazardous waste sites across the U.S.
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The CMT

Almost half of all adjustable rate mortgages are based on the one-year Constant Maturity Treasury (CMT) index. The CMT index is based on weekly or monthly average yields of U.S. Treasury securities adjusted to constant maturities, as set by the U.S. Treasury. The CMT reflects the state of the economy and responds quickly to economic changes.
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Home landscaping

Home landscaping design and cost will vary by home and lot size as well as a homeowner's tastes and needs. As a general rule of thumb, the average cost of landscaping a new home is about 10% to 15% of the value of the home. This includes trees and driveways, which may be provided by the builder.
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Commission

A commission is a fee paid to a real estate agent or broker by the seller as compensation for finding a buyer and completing the real estate sale. Usually it is a percentage of the sale price. Generally, the commission on a home sale is six percent while the commission on land sales is ten percent.
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Real Estate Daily

As a general rule of thumb, a real estate investment is considered a good buy if it can be purchased at one hundred times the property's monthly rental value. For instance, if a property fetches a $900 monthly rent, a purchase price of $90,000 or below is considered a favorable purchase.
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The deed

A deed is a legal document that transfers ownership of a piece of property. A deed of trust is a document that gives a lender the right to foreclose on a piece of property if the borrower defaults on the loan.
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Fireplaces

About 400,000 gas fireplaces are sold annually in the U.S. The use of gas fireplaces has surpassed wood burning units. Fireplace industry experts reason that aging baby boomers are less likely to want to deal with firewood cutting, hauling and care. In addition, they have less time to devote to cleanup and maintenance.
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Charitable real estate donations

Charitable real estate donations are becoming increasingly popular. Donations of real estate by higher tax bracket owners can cut thousands, or millions, off their heirs' eventual tax bill. The size of the tax deduction is determined by the current market value of the property. In addition, real property donors and recipients are able to avoid paying brokers' transaction fees.
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Rate improvement mortgage

A rate improvement mortgage is a fixed-rate mortgage that includes a provision that gives the borrower a one-time option to reduce the interest rate (without refinancing) during the early years of the mortgage term.
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Georgia land scam

One of the most infamous land scams in the U.S. took place in Georgia in 1795. The state legislature authorized the sale of a large tract of land near the Yazoo River to four land companies in which most of the legislators held shares. Public outcry cancelled the sale after much of the land had already been resold. The U.S. Congress authorized payment of $4.3 million to settle this case in 1814.
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The early 1980s

Homebuilders, mortgage bankers, real estate agents, and homebuyers do not recall the early 1980s fondly. To reduce chronic inflation, the Federal Reserve dramatically raised interest rates causing severe economic recession in the U.S. The national unemployment rate peaked at 10.8%, the prime-lending rate hit a staggering 18.45%, and mortgage interest rates averaged 16%.
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Dutch colonial

The Dutch colonial home style peaked in the 1920s. The style was influenced by the early Dutch homes of New York and featured a barn-like gambrel roof, a ground-level front porch, and dormers. The Dutch colonial was popular because of its modern features, multiple rooms, vestibules, and its simple approach to decoration.
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America's first fire insurance company

Benjamin Franklin led the effort to create America's first fire insurance company. The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire was established in 1752 with a board of directors and seventy shareholders. The first insured property to burn was repaired for 154 pounds, nearly a third of the Society's assets.
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Real Estate Daily

"The money you get from selling land, never buys the same land back." - Anonymous.
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PMI

Private mortgage insurance (PMI) protects the lender in the event the borrower defaults on a mortgage. Most lenders require annual PMI premiums of one-half to one percent of the amount borrowed if a buyer's down payment is less than 20% of the purchase price. Roughly half of all current homebuyers are putting less than 20% down as rising home prices outpace wages and savings.
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Landscaping

Landscaping is one of the few home improvements that adds more value than it costs. Adding landscaping instantly improves the curb appeal of a home. Landscaping is one of the most practical and cost-effective things a home seller can do in preparing a home for sale.
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RLI

The Realtors Land Institute (RLI) is a professional organization that provides education, networking, and marketing resources to professionals involved with sales of farms, ranches, and undeveloped tracts of land, as well as site selection and assemblage of land parcels. The RLI offers the Accredited Land Consultant designation. RLI was founded as the Farm and Land Institute in 1944.
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Los Angeles

According to a recent National Association of Home Builders study, Los Angeles has the least affordable housing among big cities (more than 500,000 people) in the U.S. Only 2.4% of the homes sold in the Los Angeles-Long Beach-Glendale area were affordable to families making the median income of $54,500. The median home sales price was $495,000.
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Realty Times

Realty Times is a leading provider of daily online real estate news, advice, and market conditions. In addition to a searchable index of news and articles, the RealtyTimes.com website portal offers a wide array of services such as newsletter subscriptions, agent and vendor directories, event calendars, and resource directories. Realty Times also airs the weekend television show "Realty Times".
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ForSaleByOwner.com

According to Nielsen/NetRatings, ForSaleByOwner.com is registering more new web users than most other real estate websites. The National Association of Realtors estimates that about 15% of homeowners will choose to sell their home as a FSBO (for sale by owner).
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Real estate pioneer James Wilson Rouse

Real estate pioneer James Wilson Rouse was born on April 26, 1914. Rouse began his career working for the Federal Housing Administration and later introduced the term "urban renewal". Rouse's real estate company developed a large portfolio of residential and commercial real estate projects including Boston's Faneuil Hall, New York's South Street Seaport, and Baltimore's Harborplace.
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Fallingwater

Frank Lloyd Wright's "Fallingwater" was recognized by the American Institute of Architects as "the best all-time work of American architecture." Wright designed the home in 1935 for the Kaufmann family of Pittsburgh. Wright responded to the family's love for a waterfall on Bear Run by placing the house over the falls.
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Real Estate Tycoon

The "Real Estate Tycoon" video game is a challenge against other opponents, including Donald Trump, to build the biggest real estate empire. Players establish their empires by building, buying, and selling offices, condos and shopping centers throughout the world. A player wins the game by increasing their wealth while trying to sabotage the competition.
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Capital gains

Capital gains is the IRS term applied to the taxable profit earned from the sale of an asset or investment. The capital gains from a principal residence is profit over $500,000 (married filing jointly) or $250,000 (single). Before May 7, 1997, all home sale profit was considered a capital gain, unless the profit was used to purchase another higher priced home within two years.
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Landfill and hazardous waste sites

Living near a landfill or a hazardous waste site will take its toll on a home's value. Cleveland State professor Robert A. Simons recently studied the effects of environmental contamination on real estate values. Homes located within a mile of a landfill would see a 10% to 15% reduction in value, and homes located within two miles of a Superfund site would see up to a 25% reduction in value.
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Seattle houseboats

There are approximately five hundred houseboats moored on the various inlets and lakes of Seattle, Washington. The first houseboats appeared around 1895 to house fishermen, mill workers and loggers who could not afford housing. Seattle restricted residential use of waterfront areas in 1972. The remaining houseboat neighborhoods offer unique waterfront living in the heart of Seattle.
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The GI Bill

The Servicemen's Readjustment Act of 1944, also known as the GI Bill, provided returning World War II veterans with college or vocational education as well as one-year of unemployment compensation. It also provided low interest home loans for returning veterans to buy homes and start businesses. Returning veterans purchased nearly twenty percent of all new homes built after World War II.
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Colors

When choosing colors, women are generally drawn to brighter tones and more subtle shades. Men favor darker neutrals and blues. Men and women are a bit more agreeable on exterior house paint colors. According to a recent American Demographics/BuzzBack color survey, the top exterior home color choice for men was white while for women it was beige.
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Home value

According to a National Association of Home Builders study, the key attributes that dictate a home's value include such things as the home's neighborhood, the age of the home, square footage, number of complete bathrooms, number of bedrooms, presence of a garage and/or basement, central air conditioning, a fireplace, and water within three hundred feet of the home.
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RAI

The Joint Center for Housing Studies at Harvard University publishes the Remodeling Activity Indicator (RAI) each quarter. The RAI provides a reading of national home remodeling activity levels. The Center has been conducting a comprehensive study of the factors influencing the growth and changing characteristics of housing renovation and repair activity in the U.S. since 1995.
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Subdivision costs

In the case of a typical new single-family residential subdivision, the developers cost breakdown of the project goes as follows: 33% for the raw land or site development costs, 33% for construction and development costs, and 34% for profit to the developer.
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COFI

The 11th District Cost of Funds index (COFI) is a popular adjustable rate mortgage index. COFI is based on the weighted-average interest rate paid by 11th Federal Home Loan Bank District savings institutions for savings and checking accounts, advances from the FHLB, and other sources of funds. The COFI is the slowest moving and most stable of all ARM indexes.
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The 28/36 rule

The 28/36 rule is used by lenders to qualify buyers for a mortgage. No more than 28% of a loan applicant's income should go to principal, interest, taxes and insurance. No more than 36% of income should go to payments on all debt, including mortgage.
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Liens

A lien is a claim by one person on the property of another as security for money owed. Such claims may include obligations not met or satisfied, judgments, unpaid taxes, materials, or labor. Consensual liens on mortgages and car loans are removed when the loan balance is paid. Non-consensual liens are imposed to collect unpaid taxes, unpaid payments for work, and unpaid non-secured loans.
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Comps

A rule of thumb for setting the price on a home for sale is to make twenty evaluations of comparable properties within a one-mile radius of the house. Collecting this information will provide a precise gauge of the home’s value and will increase the likelihood of attracting qualified buyers.
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Discount points

Discount points are fees a borrower pays toward a mortgage to lower the loan's interest rate. One point equals 1% of the total loan amount. If a borrower plans to stay in a house beyond ten years, paying a few thousand dollars in points at closing to lower the interest rate will pay off. In addition, discount points are tax deductible.
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HOAs

A homeowners' association (HOA) is a group that governs a modern subdivision or planned community. The HOA collects monthly fees from owners to pay for maintenance of common areas, handle legal and safety issues, and enforce neighborhood covenants. HOAs represent the fastest growing form of government in the U.S. over the last 15 years. About 1 in 6 Americans live in a HOA community.
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Market correction

In September 2006, the U.S. housing market recorded the steepest yearly average price decline since 1970. The Commerce Department reported that the price for a new home sold dropped by almost 10% from a year earlier. The decline reflected the correction in a five-year housing boom that saw significant home price appreciation driven by the lowest mortgage interest rates in nearly forty years.
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Realtists and Realtors

A Realtist is the designation for an agent or broker who is a member of the National Association of Real Estate Brokers. A Realtor is the designation for an agent or broker who is a member of the National Association of Realtors.
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Split estates

Split estates take place on land in which more than one person has separate and independent ownership rights. Split estate policy is causing tension across the American West where at least 50 million acres of split estate land involve energy developers who own the mineral rights beneath or lease them from the federal government. At issue is compensation, environmental impact, and land access.
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ZIP codes

ZIP codes (Zone Improvement Plan) were introduced in 1963 by the U.S. Postal service in order to speed up mail delivery. In addition to mail delivery, ZIP codes are commonly used to delineate neighborhoods, wealth and status. Beverly Hills, 90210 is considered the most famous ZIP code in the U.S.
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Renovations

According to Consumer Reports, renovations that add square footage to a house are the most likely to add value, but only if the resulting home's square footage is in line with the neighborhood. Kitchen and bathroom remodeling, long considered the most profitable improvements, recover only 50 to 75 percent at sale, but only if the home is sold within a year after the remodeling is complete.
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Eminent domain

Eminent domain is the government's right to condemn private land for public use, such as the routing of a public highway. The law of eminent domain derives from the so-called "Takings Clause" of the Fifth Amendment. The Supreme Court recently ruled in favor of local governments' ability to use eminent domain for "non-traditional" public uses such as economic development projects.
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Overpriced cities

According to Forbes magazine, Seattle, New York and San Francisco have earned the recent distinction of being the most overpriced cities in the U.S. The results were based on rankings for job growth, income growth, cost of living (housing, utilities, transportation and other expenditures), and housing affordability.
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Marshall Field

"Buying real estate is not only the best way, the quickest way, but the only way to become wealthy." - Marshall Field.
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Home square footage measurements

The American National Standards Institute (ANSI) has adopted two home square footage measurements. The base floor area measures the exterior dimensions of the building at each floor level, and includes all interior walls and voids. The finished area measures the enclosed area in a house suitable for year-round use, embodying walls, floors, and ceilings that are similar to the rest of the house.
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Urban planning

Urban planning is the process of developing long- and short-term plans for land use and community growth. Urban planners work in state or federal agencies dealing with housing, transportation, or environmental protection. They also work with local governments to promote the best use of land and resources for residential, commercial, institutional, and recreational purposes.
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The Women's Council of Realtors

The Women's Council of Realtors (WRC) was established at the National Association of Real Estate Boards annual convention in November 1938. WRC's mission is to serve its members as a community of real estate professionals by creating business opportunities and developing skills for the future. WRC has 260 nationwide chapters and 14,000 members.
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Americans move more often

Americans move more often than any other culture. The average American will reportedly move five to seven time during their lifetime. This equates to moving about every four years. Factors explaining this high rate include shifts in the economy, changing lifestyles, less formations of traditional families, and relatively high divorce rates.
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Real Estate Websites

According to recent Nielsen/NetRatings website traffic data, there were seven real estate websites that received at least a million unique visitors during a one month period. The sites are Realtor.com, HomeGain.com, AOL Real Estate, RealtyTrac.com, Rent.com, Yahoo Real Estate, and Century21.com.
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Real estate agents and brokers

Real estate agents and brokers are regulated by each U.S. state. Real estate agents must complete a required number of classes and pass an agent's exam. Real estate brokers must take additional classes and have a specified amount of real estate experience. A real estate broker has the privilege of opening and running a real estate office.
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Orange County

James Irvine established his 185 square mile southern California ranch in 1864, covering a third of what today is Orange County. The Irvine Company developed parts of the former ranch into the planned communities of Irvine, Tustin, and Newport Beach along with several commercial areas. They also donated a portion for the University of California Irvine campus.
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The Louisiana Territory

On April 30, 1803, the U.S. purchased from France the Louisiana Territory comprised of more than 800,000 square miles of land extending from the Mississippi River to the Rocky Mountains. Napoleon Bonaparte offered to sell the Louisiana Territory to the U.S. in order to raise funds for a renewed war with Great Britain. The price was about $15 million.
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Second Life

"Second Life" is an online game where players build and own a virtual 3-D world while interacting with others players. A key feature of the game is the ability to buy and sell virtual real estate with real-world market conditions such as real estate taxes. The game has grown to nearly 100,000 worldwide players since its debut in 2003.
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Commissions

A commission is a fee paid to a real estate agent or broker as compensation for finding a buyer and completing a real estate sale. The usual and customary commission for a home sale is six to seven percent. For land, the commission is usually ten percent.
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Estate-based land ownership

Estate-based land ownership dates back to medieval England. The Norman conquest of England in 1066 established the feudal system with the King as the sole landowner. Over the centuries, land was granted to lords and subdivided among tenants in return for goods and services. In 1290, tenants were given the right to sell their land. A variety of land estate ownership classes ensued over the centuries.
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Buchanan v. Warley

The 1917 Supreme Court case of Buchanan v. Warley held Louisville, Kentucky's Jim Crow era residential segregation ordinance in conflict with the Fourteenth Amendment of the U.S. Constitution. The ordinance required separate residential blocks by race to preserve public peace and welfare. The court's decision was the beginning of the end of Jim Crow laws enacted after Civil War reconstruction ended.
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HGTV

The HGTV cable channel broadcast its first programs to 44 cable markets in December 1994. HGTV produces TV shows and publishes web content devoted to all things related to the home - design, decorating, gardening, style, landscaping, and more. HGTV is one of the fastest-growing networks in cable television history.
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Wallpaper

Flemish craftsmen introduced the use of wallpaper into England in the 15th century as a cheap substitute for tapestry. The modern use of wallpaper was revolutionized in the 1940s with the advent of plastic resins, which offered stain resistance, wash ability and durability. Wallpaper resurged as “wall coverings” with improved quality, colors, and materials, as well as ease of handling.
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The first property tax

The Massachusetts Bay Colony levied the first property tax in the colonial U.S. in 1634. Local administrators arbitrarily assessed colony property owners in order to raise revenue for local governments. The colony imposed a tax directly on estate property including buildings, livestock, and other enumerated personal property items.
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A new roof

A new roof on a typical home will cost from $5,000 to $10,000 and have an average life span of about twelve to fifteen years. The key to a roof's longevity is adequate ventilation to reduce moisture and extreme temperatures. Paying a few hundred dollars extra for additional ventilation when a new roof is installed is considered money well spent.
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Home foreclosures

The four Sunbelt states of Nevada, California, Florida and Arizona led all the U.S. states in the rate of home foreclosures as of 2008. The rankings were compiled by RealtyTrac, highlighting the worst housing market recorded in the U.S. since the late 1970s. Experts attribute the foreclosure spike to rapid home appreciation that boosted home prices beyond affordability.
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Cost to relocate

According to recent data published by the Worldwide Employee Relocation Council, the average cost to relocate a home owning employee is $70,771. The average cost to relocate a home owning new hire is $52,109. The average cost to relocate a renting employee and renting new hire is $19,129 and $14,008 respectively.
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Single-family home cost

In the case of a typical new single-family residential subdivision, the developers cost breakdown of the project goes as follows: 33% for the raw land or site development costs, 33% for construction and development costs, and 34% for profit to the developer.
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Negative amortization

Negative amortization occurs when a monthly mortgage payment does not cover all of the loan interest cost. The interest cost that is not covered is added to the unpaid principal balance, effectively increasing the amount of the loan. Negative amortization is used to reduce the mortgage payment at the beginning of the loan contract.
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Property tax assessment

Methods for real estate property tax assessment differ by state and municipality. Generally, homeowners can expect to pay 1% to 3% of the home's market value in annual property taxes. For example, a home assessed at $150,000 would generate a yearly property tax bill of between $1,500 and $4,500.
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Drywall

Up until the late 1940s, interior walls in homes were constructed of several layers of plaster over wooden strips of lath. Drywall was invented in 1916 but was not widely used until World War II, with the urgent need for quick construction of military structures. Once acclimated to drywall, post-war builders gave up on the expensive, time-consuming methods of plastered walls.
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Reverse mortgage

A reverse mortgage is a special type of mortgage available to homeowners who have paid off their mortgage or have a small balance. This mortgage allows borrowers to make tax free withdrawals against home equity as long they live. Money can be withdrawn monthly, as a lump sum, or as a line of credit. Repayment is not necessary until the borrower sells the property.
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Nothing Down

"Nothing Down" by Robert G. Allen, is reportedly the best selling book on the subject of real estate. The book details techniques and strategies to work the real estate process, obtain properties, and make money, with little or no money down. Millions of copies have been sold since its original 1980 release.
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The Truth in Lending Act

The Truth in Lending Act of 1968 is a federal law designed to protect consumers in credit transactions. Among the law's stipulations, Regulation Z requires that a borrower be advised in writing of all costs associated with the credit portion of a financial transaction.
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CLUE

A Comprehensive Loss Underwriting Exchange (CLUE) report checks claim history for a homeowner or property. Traditionally used by insurers, CLUE reports are playing an increasingly important role in real estate transactions. Many buyers now ask for a CLUE report with the real estate sales contract and some states are considering making this a requirement for all real estate transactions.
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Property title

Title companies insure real estate buyers against technical mistakes that might create questions about ownership of the property after the sale. Before the advent of title companies, buyers hired lawyers to study the legal history of a property, disclose and correct any issues concerning ownership, and write a legal opinion indicating the rightful owner of the property after closing.
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Escrow

Escrow refers to a special account set up by a lender to hold monthly installments from a borrower to cover property taxes and insurance. In the early 1930s, the federal government mandated that lenders manage escrows on all FHA insured mortgages to help ease the burden on homeowners, who had to come up with large, lump sum payments at tax time.
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Home affordability

According to the National Association of Realtors affordability index, the San Diego area has the least affordable housing market in the U.S. San Diego's median income was nearly 30% less than the income needed to buy a median-priced home. The most affordable homes were in Peoria, Illinois, where median income was nearly three times the income needed to buy a median-priced home.
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Hetty Green on real estate

"I advise women to invest in real estate. It is the collateral to be preferred above all others, and the safest means of investing money." - Hetty Green
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Septic systems

Nearly a quarter of all homes in the U.S. use a septic system to dispose of human and household waste. Septic systems are made of concrete or fiberglass and range in size from about 750 to 1,500 gallons. Septic systems are the largest producers of wastewater and are also the most common source of groundwater contamination in the U.S.
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Planned unit developments

A planned unit development combines individual home ownership with shared ownership of common facilities, such as roads, water systems, clubhouses, swimming pools, parks, and golf courses. The first planned unit development in the U.S. was developed in the late 1800s. There are over 200,000 residential planned developments nationwide, growing at the rate of 10,000 per year.
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ASHI

The American Society of Home Inspectors (ASHI) was established in 1976 by a group of home inspectors. Their common goal was to build consumer awareness and enhance the professionalism of their field by establishing high standards of practice and a code of ethics. ASHI provides education, resources, and marketing to its 6,000 members in 80 local chapters.
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Housing and Economic Recovery Act of 2008

The Housing and Economic Recovery Act of 2008 was signed into law on the heels of the worst housing slump since the Great Depression. The primary focus of the far sweeping series of acts was a $300 billion bailout of troubled mortgages and increased oversight of Fannie Mae and Freddie Mac, the federal banking systems that guarantee almost half of all American mortgages.
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Online resources

Real estate buyers and sellers are using a multitude of online resources to learn, research, compare, and search for real estate information and data. According to Nielsen/NetRatings, over twenty million unique visits were registered on real estate or apartment websites during a recent one-month period. This equates to nearly 15% of the active Internet population.
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Glengarry Glenross

The 1992 film "Glengarry Glenross" is based on the Broadway play about a group of real estate agents at Premiere Properties. The story is the core essence of sales as the character and emotions of each agent unfolds during a "sales contest" initiated by a corporate axe man. The film stars Allen Arkin, Alec Baldwin, Al Pacino, Kevin Spacey, Ed Harris, and Jack Lemmon.
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Reston, Virginia

Robert E. Simon conceived Reston, Virginia in 1964 as one of the largest modern planned communities in the U.S. The 7,000 acre development outside of Washington D.C. was developed and financed by the Gulf Oil Company. The community incorporated higher density housing to conserve open space, as well as mixed-use areas for industry, business, recreation, education and housing.
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Alaska

With the Russian treasury short of funds, Russian minister Baron Edouard de Stoeckl offered the United States the purchase of Alaska in December 1866. The United States purchased Alaska in July 1868 for $7.2 million. Although Alaska is twice as large as Texas, it was not until the great Klondike gold rush in 1896 that Alaska came to be seen as a valuable addition.
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Bing Maps

Use Bing Maps to view homes and lots from the air in several distinct viewing modes: 2D, 3D, aerial and bird's eye. Enter an address and take a virtual fly-over to view the property and surrounding neighborhood from all angles. See this essential real estate resource at bing.com/maps.
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Real estate brokers and agents

According to the latest data compiled by the U.S. Department of Labor Bureau of Labor Statistics, there were 460,000 real estate brokers and agents in the United States. The median annual earnings of salaried real estate sales agents was $35,670. The median annual earnings of salaried real estate brokers was $58,720.
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Highways

The Federal Aid Highway Act of 1925 was passed in response to the confusion created by 250 existing highways that were named and maintained by various private and public entities. The Act specified a uniform naming system for highways with a universally recognized sign shield. The most important change was that the roads would be administered by the states, not by for-profit private road clubs.
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National Housing Act of 1934

The National Housing Act of 1934 established the Federal Housing Administration to advance homeownership opportunities for all Americans. The FHA created the fixed-rate, long-term mortgage. The agency also established mortgage insurance for lenders, encouraging them to make mortgage loans to borrowers who might not qualify for conventional mortgages.
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Better Homes and Gardens

Better Homes and Gardens magazine has been publishing articles on design, decor, cooking, and gardening since its debut in 1922. The magazine was first called "Fruit, Garden, and Home" and changed to Better Homes and Gardens in 1924. Better Homes and Gardens is published by the Meredith Corporation and has a circulation of nearly eight million readers.
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Landscaping

According to a recent National Gardening Association study, homeowners spent $37.7 billion landscaping their property, up from $22.5 billion five years earlier. Many studies have shown that properly selected, sited and maintained landscaping can increase the value of residential and commercial property from five to as much as twenty percent.
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Trees

Trees increase the value of property by providing attractive landscapes as well as positive environmental benefits. They cool the air in their shade, they release oxygen while removing carbon dioxide, protect from ultraviolet sun rays, prevent soil erosion, provide wildlife habitat, provide food, and they screen sights and sounds.
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Carpeting

Wall-to-wall and room carpeting create a warm, quiet living environment. Carpet is the most popular type of flooring in the United States, covering an estimated 70 percent of the country's floors. Carpet has an average lifespan of about eight to ten years but is the least durable when compared to other flooring, such as hardwood floors and ceramic tile.
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Reduce move-related household waste

The millions of residential moves that take place annually produce enormous amounts of household waste. The EPA offers the following tips to reduce move-related household waste: hold a yard sale; reuse boxes; pack clothes in suitcases or duffel bags; use old newspapers to wrap items; use environmentally preferable packing materials; dispose of hazardous materials; donate leftover items to charity.
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Employee Relocation

According to data compiled by the Worldwide Employee Relocation Council, the top two reasons that employees give when reluctant to relocate for a job in the United States are family resistance to the move and high housing costs.
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Comparable properties

Real estate professionals agree that a worthwhile new home shopping task is to compare prices of comparable properties that are for rent and for sale. If a local market has higher monthly mortgage amounts versus rents, it may be far cheaper to rent than to own, especially if a buyer expects to sell in less than five years.
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Google Earth

Google Earth combines satellite imagery, maps and Google Search to put the world's geographic information on a computer's display. Companies are using Google and other methods to merge real estate listings, aerial imagery, and maps. Some good websites include housingmaps.com, homepages.com, and realestate.yahoo.com.
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Electricity rates

According to data compiled by the U.S. Department of Energy, the average electricity rate in the U.S. is 8.62 cents per kilowatt-hour. Residents of Hawaii (19.23) and New York (14.52) pay the highest electricity rates in the nation. Kentucky (5.05) and West Virginia (5.09) residents pay the lowest electricity rates.
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NIMBY

"Not In My Back Yard" (NIMBY) is the response sometimes given by neighborhoods and communities to proposed changes or new developments. NIMBY was coined in the 1960s in response to attempted placement of group homes in communities. Notable NIMBY projects include landfills, highways, airports, stadiums, schools, mixed-income housing, and group homes.
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The Welcome Wagon

The Welcome Wagon mails gift books to nearly two million new homeowners each year. The free gift books contain information regarding local civic and cultural activities, as well as coupons from local businesses. The Welcome Wagon began in 1928 and was known for its personal home delivery of gift baskets to new homeowners until recently switching to gift books.
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Step-rate mortgage

A step-rate mortgage is a loan that allows for the interest rate to increase at yearly intervals according to a specified schedule, resulting in increasing payments as well. At the end of the specified step period, the rate and payments will remain constant for the remainder of the loan. Step-rate mortgages are designed to ease home ownership affordability.
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Home energy audit

A home energy audit determines how much energy a home consumes and evaluates what measures to make a home more energy efficient. The audit shows where a house is losing energy, the efficiency of a home's heating and cooling systems, and ways to conserve hot water and electricity. The audit results may save the homeowner significant amounts of money over time.
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Housing markets

Housing markets in the U.S. that did not experience overzealous price appreciation during the first half of the 2000s are now among the ranks of the strongest housing markets. According to Forbes.com, Pittsburgh, Buffalo and El Paso topped their ranking of housing markets for 2009, a year in which no major metropolitan area would see housing price increases.
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Edge cities

Journalist Joel Garreau coined the term "edge cities" in the early 1990s to describe the new urban centers growing within larger metropolitan areas. Typically centered around freeway interchanges, edge cities have white-collar jobs, tall office buildings, shopping and entertainment, hotels, corporate headquarters and hospitals. The archetypal edge city is Tysons Corner, Virginia, outside Washington, D.C.
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Feng Shui

Feng Shui is the ancient Chinese belief that the physical characteristics of a house and the positioning of the home will affect the fortunes of the owner. Feng Shui as a practical philosophy existed even before the Chinese learned to write. Feng Shui was first introduced in America during the California gold rush in the 1840s.
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Curb appeal

Curb appeal is the first impression of a house as seen from the street. Tips for improved home curb appeal include: make sure the house and yard look clean and well-kept; kill mold and mildew on and around the house; clean the windows and gutters; pressure wash dirty siding and decks; edge the sidewalks; remove lawn weeds; rake and dispose of leaves; and trim tree limbs near the home's roof.
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Grover Cleveland

"No investment on earth is so safe, so sure, so certain to enrich its owners as undeveloped realty. I always advise my friends to place their savings in realty near a growing city. There is no such savings bank anywhere." - Grover Cleveland
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Prefabricated homes

Prefabricated homes include manufactured, modular, and pre-cut houses. Homes made all or partly in factories now account for nearly 40% of all new single family homes sold in the U.S. Prefab home building methods yield higher quality homes and a more efficient process for home building. Sears Roebuck was the first to sell factory-built homes in 1908.
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Real Estate Daily

Congress passed a bill in 1989 mandating all states to set up licensing programs for real estate appraisers. This bill was passed to help prevent the type of fraudulent and inflated loans that caused the $500 billion savings and loan debacle in the late 1980s. Licensed appraisers must adhere to a set of ethical and professional guidelines developed by the Appraisal Foundation.
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SAREC

The Senior Advantage Real Estate Council (SAREC) was established in 1997 to focus on the needs of property buyers and sellers fifty-years of age and older. SEREC offers the Senior Real Estate Specialist designation, which demonstrates knowledge and expertise of the financial and lifestyle transitions involved in relocating, refinancing, buying a home, and selling a home for seniors.
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Property taxes

At the beginning of the 20th century, property taxes provided forty-five percent of the general revenue received by state governments in the U.S. This percentage has steadily declined since then as states adopted sales and income taxes. Today, property taxes are a relatively insignificant source of state tax revenue.
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Sperling's Best Places

Sperling's Best Places at bestplaces.net is a free online resource for researching and comparing places to live in the United States. The website presents a wide array of comparative city and neighborhood data for categories such as people, economy, housing, health, crime, climate, education, and transportation.
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Donald Trump

Donald Trump is credited with being the first to break the $100 million price threshold when he offered his Palm Beach property at $125 million in May 2006. According to a Forbes.com survey, two other properties were listed for over $100 million later that same year, a home in Aspen, Colorado, and an estate in Lake Tahoe, Nevada.
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Columbia, Maryland

The community of Columbia, Maryland was established in 1967 as one of the largest planned communities in the U.S. Columbia is located between Baltimore and Washington D.C. Its goal was to be a self-contained community with recreational and retail amenities, ethnic diversity, and various income levels living side-by-side. Columbia's final single-family residence was built in June 2002.
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Baby boomers

About 76 million baby boomers were born between 1946 and 1964 in the U.S. This massive age group defined social, consumer, and cultural markets during the second half of the 20th century. As the baby boomers enter retirement age over the next twenty years, the supply of various types of retirement, empty nest and senior housing will increase in order to meet surging demand.
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Tallest residential building

The Q1 Tower in Gold Coast City, Australia is the world's tallest residential building at 1,058 feet. The Q1, short for "Queensland Number One", was completed in 2005. The glass-enclosed building has 78 floors, 527 apartments, and features a ten-story tropical sky garden.
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Tariff 400-M

Most major long-distance moving companies charge their customers according to a book called "Tariff 400-M". The Household Goods Carriers Bureau, located in Alexandria, Virginia, publishes the book annually. The book specifies a moving company's cost for packing and hauling x pounds for y miles.
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Mobile Americans

During the early twentieth century, when it was thought that automobiles would never catch on, Henry Ford applied standardization methods in manufacturing to develop America's first mass-produced automobile the Model T Ford. The resulting new generation of mobile people would forever change the landscape and fabric of America.
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Shelley v. Kraemer

The 1948 Supreme Court decision of Shelley v. Kraemer held that it is unconstitutional for the government to enforce restrictive covenants that exclude persons on the basis of race. The case was heard after the Shelley family was sued by neighbors to keep them from taking possession of a nearby property containing a restrictive covenant barring African-Americans and Asians from owning the property.
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Penthouse residences

Penthouse residences are typically the most exclusive and elaborate in terms of living features. Before the use of elevators, when getting to the top of a building was a stair-stepping chore, the structures at the top were used for laundry houses, washing lines, water towers, and servants' quarters. The first distinguished penthouse apartments appeared in New York City in the 1920s.
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Home landscaping

Home landscaping improves home appearance and provides the following positive impacts: lower noise levels, masks unpleasant views, reduces crime, lowers heating and cooling costs, optimizes the use of outdoor space, and is environmentally friendly.
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Pacific Heights

The 1990 psychological thriller movie "Pacific Heights" starred Melanie Griffith, Matthew Modine, and Michael Keaton. San Francisco yuppies Patty Parker and Drake Goodman purchase and restore a costly Victorian. In need of a tenant to help pay the enormous mortgage, they rent the studio apartment to Carter Hayes, a landlord's worst nightmare.
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Home settling

Home settling occurs as the materials used in its construction shift or move while drying and curing. Ground settling occurs as the earth around and beneath a home shifts due to moisture. Pronounced signs of home settling include doors and windows out of square, sagging room floors, sinking beams, large cracks in the foundation, and water in the crawl space or basement.
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Google Street View

Google Street View is a perfect way to see a property without actually being there. Google Street View provides 360° panoramic street-level views and allows users to view parts of selected cities and their surrounding metropolitan areas at ground level. To use Street View, simply select the Street View button at the top of any Google Map.
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Metro moves

According to a recent American Moving and Storage Association study, the three most active U.S. metropolitan areas for inbound and outbound moves are Washington, DC, Phoenix/Mesa, Arizona, and Chicago, Illinois.
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The major appliance "repair-or-replace" rule of thumb

The major appliance "repair-or-replace" rule of thumb is this: if an appliance's repair estimate is fifty percent of the cost of a new replacement, and the appliance in need of repair is over seven years old, it makes good economic sense to replace it.
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Airpark communities

Airpark communities are neighborhoods that cater to airplane owners and long-distance commuters. These neighborhoods typically have extra-wide streets so planes and cars can share the road, garages that are hangers, and shorter mailboxes and outdoor fixtures so they do not get hit by plane wings. Over one hundred airpark communities have been established over the past several years.
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FindYourSpot.com

FindYourSpot.com offers a ten-minute online survey that provides a tailored list of desirable relocation areas based on personal tastes and interests. The relocation website also offers instant access to online reports about weather, schools, recreational activities, cost of living, and general quality of life for cities and towns across the U.S.
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Sunlight direction

Homebuyers should remember to consider sunlight direction when evaluating a home purchase. Back yard activities in evening shade are best enjoyed when the home's back yard faces east. Sunlight direction also affects the brightness factor of rooms in the house as well as tree and landscape selection and location.
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Real Estate Daily

Some new homebuilders are adopting new urbanism and traditional neighborhood development concepts into their subdivision plans. These development approaches incorporate design elements of old urban neighborhoods with traditional features, such as prominent front porches, sidewalks, backyard garages, multi-use buildings and housing clustered near recreation and commercial service areas.
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Home sale rule of thumb

Preparing a home and pricing it accordingly should result in a sale in a reasonable amount of time. The length of time a home stays on the market varies by neighborhood and season. A general rule of thumb for home sales is that forty home showings in twelve weeks should result in a sale.
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Decks

Decks became a popular home addition with the growth of the suburbs during the 1950s and 1960s. A deck adds value to a home and provides a focal point for gathering, dining, and enjoying the outdoors. There are many deck designs and styles. Designers agree that the size of a deck should be no larger than one-third the size of the home's footprint.
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Texas

U.S. Congress approved the annexation of the Republic of Texas in 1845, resulting in a declaration of war from Mexico. The Mexican-American war ended in February 1848 with Mexico ceding Texas, California, Colorado, Utah, Nevada, and most of New Mexico and Arizona. The remainder of New Mexico and Arizona were acquired as part of the Gadsen purchase completed in 1852.
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The first indoor shopping mall

Shopping center architect Victor Gruen designed the first indoor shopping mall just outside Minneapolis in 1954. Southdale had seventy-two stores and two anchor department stores. Unlike other suburban shopping centers, Southdale was a fully enclosed, multi-tiered shopping complex with a garden court under skylights.
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Florida's historic real estate crash

The state of Florida experienced a historic real estate crash in the mid 1920s. Demand for Florida homes far exceeded supply as the state became a tourist and relocation destination. The jump in land and home prices attracted more speculators, fueling a real estate bubble. The overheated market crashed in 1926 on the heels of a devastating hurricane and catastrophic fruit fly infestation.
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Georgian style

Georgian style homes were popular in the U.S. throughout the 18th century. The Georgian style is distinguished by a symmetrical facade, prominent front entrance and decorative blocks of masonry or wood set in the corners of the house. This style was adopted from the elaborate homes of England of the 1700s, which were inspired by Italian Renaissance and Roman designs.
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AIA Architect magazine survey

According to a recent AIA Architect magazine survey, the most popular features among new homebuyers include such items as home offices, more storage space such as kitchen pantries and closets, and the use of low maintenance building materials. Less popular are exercise rooms and formal features such as upscale entryways and hallways.
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Home sale closing costs

Home sale closing costs will usually come in above the lenders good faith estimate. Two ways to reduce closing costs include asking the mortgage lender to recommend companies that offer less expensive title insurance policies, and also to watch for inflated fees for such things as document preparation.
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This Old House

The Emmy Award winning TV series "This Old House" recently celebrated its 25th anniversary season on PBS. The show is television's premier home improvement series. This show's mission is to demystify the home improvement process and to celebrate the fusion of old world craftsmanship and modern technology.
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Single women

Single women are accounting for a larger share of the home buying and selling market, according to a recent National Association of Realtors study. The study found that unmarried women accounted for 22 percent of home sales this past year as compared with 14 percent in 1995. Meanwhile, the home selling share for married couples slid from 70 percent to 60 during this period.
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Lifestyle Center

The latest incarnation of the shopping center is the "Lifestyle Center." Lifestyle centers combine the best elements from past retail developments along with city planning concepts to create a pedestrian-friendly environment reminiscent of main street shopping. The real estate development firm Poag and McEwen is credited with the country's first lifestyle shopping center built in 1987.
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Federal and state Land

About 40 percent of all U.S. land is owned by a federal or state government entity. Ninety-five percent of Alaska's 365,039 square miles is government owned. Only 1.5 percent of Rhode Island's 668.8 square miles is owned by federal or state entities.
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Home sales

The most frequent time for home sales and moves during the year is from mid-May to mid-September. During a month, the most frequent time for movers is the first and last weeks of the month.
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U.S. Interstate highway system

The Federal-Aid Highway Act of 1956 initiated the development of today's 42,796-mile U.S. Interstate highway system. The longest route is Interstate-90, which runs from Boston to Seattle, a distance of 3,081 miles. The second longest is Interstate-80, which covers the 2,907 miles between New York City and San Francisco.
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Housing Act of 1949

The landmark Housing Act of 1949 was the first comprehensive housing legislation in the U.S. The act established as a national goal "a decent home and suitable living environment" for all Americans. The act authorized the construction of 800,000 new housing units and inaugurated several urban redevelopment initiatives.
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Loft living

America's manufacturing economy produced many cast-ironed buildings with open floor spaces and wall to ceiling glass frontages. The changing economy diminished the need for these structures until the late 1950s when artists began using the "loft" space these buildings provided. Loft living has transitioned from clever reuse to a mainstream urban residential design of choice.
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Landscape architect

A landscape architect is a professional designer of landscapes and gardens, for public, commercial, and residential properties. Landscape architects work for many types of organizations such as real estate development firms, governments, and themselves. About 25% of all landscape architects are self-employed, more than three times the rate for all professionals.
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White elephant

The term "white elephant" refers to something that is costly to obtain or maintain and provides little benefit or value. The phrase originates from Asian countries where albino elephants were considered sacred and therefore were not to be put to work. Anyone owning a white elephant had the expense of caring for the sacred animal without any work in return.
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Little Pink Houses

"Oh but ain’t that America, for you and me. Ain’t that America, we’re something to see baby. Ain’t that America, home of the free. Little pink houses for you and me" - "Little Pink Houses", John Mellencamp, 1983.
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Census of Housing

The U.S. Census Bureau conducts the Census of Housing along with the Census of Population every ten years. Taken since 1940, the Census of Housing counts the number of residential dwellings and records selected physical and financial characteristics. A census survey form is sent to every household in the U.S. A longer survey with additional questions is sent to about 15% of all households.
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Worldwide Employee Relocation Council

The Worldwide Employee Relocation Council is an industry trade group concerned with current issues and management practices for the movement of employees within the U.S. and between all other countries. The trade group has 12,000 members consisting of relocation professionals and global workforce mobility specialists.
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Home value appreciation rates

Home value appreciation rates vary by locality and region. Under normal conditions, a house in the United States appreciates about 4% to 5% per year. A $150,000 home purchase with a $30,000 down payment would increase by about $7,500 in the first year. This represents a return of 25% on the $30,000 investment.
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Landscaping

Landscaping can make a home and property more secure. Trim shrubbery and raise tree canopies so doors and windows are visible from the street. Prune trees and place trellises where they cannot be used as ladders to gain entry to the upper floors. Place noisy, large gauge gravel or thorny plants on the ground near windows.
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Depreciation

Depreciation is the decrease in value of property due to obsolescence and use. Investment property can be depreciated each tax year as a tax deduction resulting in a reduced tax burden. Properties with the best depreciation tax-savings potential include retail stores, restaurants, office buildings and warehouses.
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Swimming pools

The Romans built the first swimming pools nearly 2,000 years ago. The first pools in America were public swimming pools built in the first half of the 20th century. By 1970, there were 713,000 privately owned swimming pools in the U.S. Newer suburban communities often chose to build private swim clubs instead of municipal public pools.
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Developing a real estate website

Four tips for developing a real estate website include: develop and prioritize a list of online business goals; bookmark three excellent websites for reference; start small with a home page, about us, and contact page; make certain all published website pages look professional and work flawlessly.
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Lawn sprinklers

The first patent on an American lawn sprinkler was issued in 1871. Water hose reels, nozzles, and sprinklers, developed by 1900, became the lawn-watering staples for most Americans through the 20th century. Once available only to the wealthiest home owners, automated lawn sprinkler systems are being installed by increasing numbers of homeowners.
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Errors and Omissions insurance

Errors and Omissions (E&O) insurance is a type of malpractice insurance coverage for real estate professionals. Real estate agents represent parties, transact sales, and broker deals, putting them at risk to lawsuits and resulting legal expenses. E&O coverage pays any settlement or judgment up to the limits of liability stated in the policy.
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Sears and Robuck

Sears and Robuck delivered and built more than 75,000 homes in the United States from 1908 to 1940. Sears sold several styles of homes that were available for purchase from their general merchandise catalog. The homes arrived on rail cars containing more than 30,000 pieces and were assembled by local carpenters and skilled labor. Prices for the homes ranged from $600 to $6000.
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Greek Revival style

Greek Revival style homes were popular in the U.S. from 1825 to 1890. Built for prosperous Americans, these homes were symmetrical in shape and featured a pedimented gable, heavy cornice, wide frieze, and bold, simple moldings. The most prominent feature was the set of pillars in front of the house. The front gable design of Greek Revival has been adapted in newer American houses.
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The Queen Anne home

The Queen Anne home style was popular in the U.S. in the late 1800s. The innovative style was an architectural statement of new technologies and America's industrial growth. The homes were asymmetrical with steeply pitched and irregular roofs. Some had gingerbread exteriors with delicate turned porch posts and ornamental spindles. Others had classical columns, often raised on brick or stone piers.
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Real Estate Daily

"Real estate is the best investment for small savings. More money is made from the rise in real estate values than from all other causes combined." - William J. Bryan
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Real Estate Daily

Real estate experts generally recommend that homebuyers look for sound properties that only require minor improvements such as painting, cleaning, landscaping, carpets and/or new appliances. Buyers should avoid homes that need a new roof, foundation, siding, plumbing and/or electrical work.
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HUD

The Department of Housing and Urban Development's (HUD) mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. The department was established on September 9, 1965, when President Lyndon Johnson signed the Department of Housing and Urban Development Act.
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Baby Boom communities

The aging Baby Boom generation will produce 35 million more elderly residents by 2030. America's towns and cities are preparing accordingly. Cobb County, Georgia created the nation's first "residential senior living zoning district". Many communities are developing building standards for seniors. Others are enlarging street signs, upgrading traffic lights, and revisiting street and sidewalk design.
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The English Tudor

The English Tudor style home was popular in the U.S. in the 1920s and 1930s. The Tudor style features stone or brick exterior walls with exposed beams. Tudor homes have taken on a variety of forms ranging from elaborate mansions to modest homes with faux masonry veneers. Modified suburban Tudors became popular during the 1970s.
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The most common street name in the U.S.

The most common street name in the U.S. is Second Street. This is followed by Third, First, Fourth, and Park. Main Street is the seventh most popular street name. In the United Kingdom, High Street is the most common street name.
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Houston

The Houston, Texas housing market experienced a pronounced housing recession that began after the region's surging oil economy crashed during the late 1980s. The regional housing bust saw Houston's home prices decrease by an average of twenty-one percent from 1985 through 1990.
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Home equity borrowing

Since 2004, home equity borrowing in America has risen 278%, according to a study by 360FinancialLiteracy.org. Nearly $719 billion of home equity credit is on balance in America, which now exceeds the total balance on credit cards. A home equity loan is paid off over time. A home equity line of credit is repaid like credit card debt.
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State and local taxes

State and local taxes include property, sales, income, transfer, and estate taxes. The states of Maine, New York, Hawaii, Rhode Island, and Wisconsin have the highest state and local tax rates, according to a recent study by the Tax Foundation and Bureau of Economic Analysis. The lowest rates are in Alaska, New Hampshire, Delaware, Tennessee, and Alabama.
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Foreclosures

Midwestern states such as Ohio, Indiana, Kentucky, and Michigan have been leading the nation in home foreclosure rates over the past several years. The two main factors for this concentration of foreclosures are sustained losses in manufacturing jobs over the past five years, and the rise in use of sub prime lending and nontraditional loans for home purchases.
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Real Estate Daily

According to the National Association of Realtors, the typical first-home buyer is 32 years old and has a household income of fifty to sixty thousand dollars. The typical second-home buyer is 46 years old, is married, and has a household income of nearly ninety thousand dollars.
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Elevators

The first elevator designed for a passenger was built in 1743 for French King Louis XV. The Otis Brothers installed the first mechanized passenger elevator in New York in 1857. Improvements to elevator technology and safety coupled with steel beam construction made a huge impact on building design. "Tall" buildings went from nine stories in the 1850s to nearly thirty stories at the turn of the century.
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Historic Preservation

The National Historic Preservation Act of 1966 established federal laws and funding for the provision of a National Register of Historic Places. The register includes districts, sites, buildings, structures and significant objects in American history, architecture, archaeology and culture. The act impacted the real estate industry by recognizing the use of historic preservation as a means of providing housing.
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The first brick building in the U.S.

The Dutch West India Company built the first brick building in the United States in New Amsterdam (Manhattan) in 1633. The brick residence for the fifth Dutch governor Wouter Van Twiller was erected with Holland brick, made in nearby kilns.
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Home technologies

Pre-wired cable/satellite TV and home security systems are the most important new home technologies, according to a recent Internet Home Alliance survey of new homebuyers. Other desired new home technologies include structured wiring, multi-zone HVAC, air purification systems, wireless networks, energy management systems, and home lighting control systems.
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Joint tenancy

Joint tenancy is a legal device in which two or more persons hold title to property together. As joint tenants, they have a right to equal use and enjoyment of that property. Upon the death of a joint tenant, the deceased joint tenant's share will pass automatically to the other tenants who are still living, rather than to the heirs of the tenant who died.
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Flood insurance

One quarter of all flood loss claims are filed in low flood risk areas. Flood insurance can be purchased from the Federal Emergency Management Agency's Flood Insurance Program through private insurers. The National Flood Insurance Program provides an online flood risk evaluation based on property location at floodsmart.gov.
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U.S. Homeowners

According to the latest American Housing Survey, there were about 119 million housing units in the United States. Approximately 68% of all occupied units were owners. The median value of owner occupied homes was $123,887 and the median age of owner occupied homes was 30 years.
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Home-based business

According to a recent report published by the U.S. Department of Labor, fifty-three percent of businesses in the U.S. are home-based businesses. The study also found that nearly sixty percent of all new businesses in the U.S. begin at home.
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Home storage

Among the features a potential buyer looks at in a home is the amount of storage it offers. A general rule of thumb for sellers showing a home is to take out half the contents in the closets and storage areas to make them look more spacious.
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Celebrate the first day

Here are some tips on ways to celebrate the first day in a newly purchased home: take photos of yourself, your family, and your home on the exciting first day; uncork a bottle of your favorite beverage and make a toast to your new home; bless your new home; carry your family members through the front door.
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Surveys

A spot survey is a visual guide and cursory check of a property's boundaries and its improvements. It may not disclose such matters as encroachments, overlaps, and boundary line or acreage discrepancies. A stake survey physically identifies the property corners, property lines, and the location of all improvements.
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Census tracts

A census tract is a statistical area defined by the U.S. Census that identifies population and housing statistics about a specific part of an urban area. Census tracts contain approximately 1,000-2,000 properties of a similar nature. Their boundaries are relatively permanent making them excellent units of analysis for evaluating change and trends over time.
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The Dow Real Estate Index

The Dow Jones U.S. Real Estate Index provides a broad measure of the U.S. real estate securities market. The index currently over 80 components, which make up the real estate portion of the Dow Jones U.S. total market index. The index consists predominately of real estate investment trust funds (REIT) and real estate operating companies (REOC).
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Real Estate Daily

Habitat for Humanity International is a nonprofit, ecumenical Christian housing ministry. Since its founding in 1976 by Millard and Linda Fuller, Habitat for Humanity International has built or rehabilitated more than 150,000 houses for families in need, becoming a world leader in addressing the issues of poverty and housing.
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Founded in 1565, St. Augustine, Florida is the earliest known settlement of European origin in the United States. Forty-two years before the English colonized Jamestown, and fifty-five years before the Pilgrims landed at Plymouth Rock, the Spanish established at St. Augustine as North America's first enduring settlement.
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