The Printed Owl Real Estate

Real Estate Buyers Agent Council

2011-12-24T09:41:00.001-08:00

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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Mortgage101.com

2011-12-22T17:31:00.001-08:00

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

2011-12-21T17:52:00.001-08:00

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

2011-12-20T16:55:00.001-08:00

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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Mail order homes

2011-12-19T16:09:00.001-08:00

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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Bridge loan

2011-12-17T12:05:00.001-08:00

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

2011-12-16T18:56:00.001-08:00

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

2011-12-15T18:01:00.001-08:00

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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Real estate job turnover

2011-12-13T18:00:00.001-08:00

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

2011-12-12T17:23:00.001-08:00

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

2011-12-11T06:47:00.001-08:00

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

2011-12-10T07:33:00.001-08:00

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 Federal Superfund

2011-12-10T07:30:00.001-08:00

Constant Maturity Treasury

2011-12-09T17:40:00.001-08:00

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

2011-12-08T16:52:00.001-08:00

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

2011-12-07T17:08:00.001-08:00

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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A good buy

2011-12-06T16:48:00.001-08:00

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

2011-12-05T16:32:00.001-08:00

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

2011-12-04T06:03:00.001-08:00

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

2011-12-03T06:40:00.001-08:00

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

2011-12-02T16:36:00.001-08:00

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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Dutch colonial

2011-11-29T03:35:00.001-08:00

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

2011-11-28T14:52:00.001-08:00

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

2011-11-27T07:07:00.001-08:00

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

2011-11-26T07:44:00.001-08:00

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

2011-11-25T14:52:00.001-08:00

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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Realtors Land Institute

2011-11-24T09:11:00.001-08:00

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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Realty Times

2011-11-22T15:08:00.001-08:00

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

2011-11-21T16:15:00.001-08:00

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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James Wilson Rouse

2011-11-20T08:40:00.001-08:00

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

2011-11-19T06:25:00.001-08:00

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

2011-11-18T15:34:00.001-08:00

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

2011-11-17T15:10:00.001-08:00

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

2011-11-16T15:53:00.001-08:00

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

2011-11-15T16:40:00.001-08:00

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

2011-11-14T19:33:00.001-08:00

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

2011-11-13T08:21:00.001-08:00

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

2011-11-12T13:14:00.001-08:00

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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Remodeling Activity Indicator

2011-11-11T17:05:00.001-08:00

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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The Great Chicago Fire

2011-11-10T17:41:00.001-08:00

The Great Chicago fire is the most infamous fire to occur in the U.S. Fire broke out at a farm on the evening of October 8, 1871 and quickly spread to other nearby buildings. The fire killed 300 people and destroyed more than 17,000 structures in 27 hours, including the entire downtown core of Chicago and most of its North side.
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COFI

2011-11-09T18:51:00.001-08:00

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

2011-11-08T03:13:00.001-08:00

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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Comps

2011-11-06T08:06:00.001-08:00

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

2011-11-05T07:59:00.001-07:00

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

2011-11-04T18:16:00.001-07:00

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

2011-11-03T16:53:00.001-07:00

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

2011-11-02T14:57:00.001-07:00

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

2011-11-01T16:20:00.001-07:00

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

2011-10-31T14:50:00.001-07:00

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

2011-10-30T08:08:00.001-07:00

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

2011-10-29T05:26:00.001-07:00

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

2011-10-28T14:05:00.001-07:00

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

2011-10-27T15:42:00.001-07:00

"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

2011-10-26T16:24:00.001-07:00

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

2011-10-25T14:56:00.001-07:00

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

2011-10-24T15:19:00.001-07:00

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

2011-10-23T08:17:00.001-07:00

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

2011-10-22T03:06:00.001-07:00

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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Orange County

2011-10-20T08:15:00.001-07:00

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

2011-10-19T03:35:00.001-07:00

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

2011-10-18T04:05:00.001-07:00

"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 several hundred thousand worldwide players since its debut in 2003.
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Commissions

2011-10-17T05:41:00.001-07:00

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

2011-10-16T06:52:00.001-07:00

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

2011-10-15T07:56:00.001-07:00

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

2011-10-14T03:57:00.001-07:00

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

2011-10-13T03:11:00.001-07:00

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

2011-10-12T03:55:00.001-07:00

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

2011-10-11T03:56:00.001-07:00

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

2011-10-10T04:39:00.001-07:00

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

2011-10-09T08:10:00.001-07:00

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

2011-10-08T08:13:00.001-07:00

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

2011-10-07T03:21:00.001-07:00

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

2011-10-06T04:07:00.001-07:00

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

2011-10-05T04:05:00.001-07:00

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

2011-10-04T04:05:00.001-07:00

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

2011-10-03T04:20:00.001-07:00

"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

2011-10-02T07:55:00.001-07:00

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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Comprehensive Loss Underwriting Exchange

2011-10-01T07:23:00.001-07:00

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

2011-09-30T05:16:00.001-07:00

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

2011-09-29T04:10:00.001-07:00

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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National Association of Realtors Affordability Index

2011-09-28T04:04:00.001-07:00

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

2011-09-27T03:13:00.001-07:00

"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

2011-09-26T04:28:00.001-07:00

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

2011-09-25T08:19:00.001-07:00

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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American Society of Home Inspectors

2011-09-24T06:00:00.001-07:00

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

2011-09-23T04:13:00.001-07:00

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 real estate resources

2011-09-22T04:02:00.001-07:00

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

2011-09-21T04:04:00.001-07:00

The 1992 film "Glengarry Glenross" is based on the Broadway play about a group of real estate agents at Premiere Properties. 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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Glengarry Glenross

2011-09-21T04:03:00.001-07:00

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

2011-09-20T04:05:00.001-07:00

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

2011-09-19T04:08:00.001-07:00

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

2011-09-18T08:01:00.001-07:00

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

2011-09-17T05:17:00.001-07:00

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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The Federal highway system

2011-09-16T03:54:00.001-07:00

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

2011-09-15T04:32:00.001-07:00

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

2011-09-14T04:04:00.001-07:00

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 spending

2011-09-13T03:49:00.001-07:00

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 and Landscaping

2011-09-12T05:41:00.001-07:00

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

2011-09-11T07:17:00.001-07:00

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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Residential moves and the environment

2011-09-10T03:52:00.001-07:00

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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