11 amazing real estate facts to entertain your brain | Inman News

Fun info on real estate from Inman News: 11 amazing real estate facts to entertain your brain | Inman News.  I'm not entirely sure about a few of them; for instance I doubt McDonald's owns all the real estate under its many franchises. -David

5 signs your agent is overstepping his expertise | Inman News

Watch out for the agent who knows it all!

5 signs your agent is overstepping his expertise | Inman News

5 must-knows before buying a pool home

Ever wished you had a pool? Naturally, there are some unique considerations to take in to account. From a value standpoint, it's important to realize that a pool is not always viewed as an asset. For one thing, it's not always summer (and this year in our area, it never was!). Here are some additional important factors from Inman News. - David

Easy on Those Strategic Defaults

Strategic defaults generally refer to walking away from a home that's underwater. Short sales and renegotiations are much less offensive to mortgage lenders, though they take a bit of work.

More info re. conforming loans (not jumbos): Fannie cracking down on walkaways | Inman News

Speak with an experienced Realtor and an experienced real estate attorney if you're considering any of these options. - David

Wavy Flooring: How, Why, and What to Do

Engineered floors, often surfaced with hardwoods or bamboo, sometimes demonstrate waviness or warping.  Good quality engineered floors shouldn't do this!  Furniture makers (like your blogger as a hobby) know why this is: wood moves!  And humidity is the primary culprit.

In an attempt to keep gaps from appearing between floorboards during times of low humidity (winter), installers sometimes glue them to the slab or subfloor, or install them too tightly together.  And flooring installed in winter will always expand when humidity rises (summertime months). When they do, the wood will warp if it has nowhere else to go.

No force can stop wood from expanding and contracting with the seasons, so some floors require special installation.  This is not a place to economize!

More info:  How to fix engineered floors that warp | Inman News

-David

Fixing Up or Selling As Is: Relevant Considerations

As in just about everything except scuba diving, it doesn't make sense to go overboard when fixing up a home to sell.  BUT, certain fixes may pay for themselves several times over in terms of attracting offers and getting maximum value.  Inman columnist Dian Hymer explains this well in Fixing to sell: Don't go overboard | Inman News. -David

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Short sale vs. loan modification

Your home value is underwater.  Not like in the Nashville flooding disaster, but as in home value less than mortgage debt.  Should you consider a short sale, loan modification, or another option?  Tara-Nicholle Nelson offers a smart perspective in her article 3 tips for a successful short sale | Inman News.

Because each of these options is somwhat hit or miss, the answer may be "all of the above." - David

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The Risk of Further Declines in Home Prices: Someone Knows the Answer

What's the risk of more wholesale price declines in real estate?  Low, and getting lower. 

So whose prediction is that?  It is the prediction someone who really needs to know the answer: major providers of private mortgage insurance (PMI).  These are the folks who know how to measure mortgage default probabilities much better than AIG knew how to predict MBS (mortgage-backed securities) default probabilities, and here's what they think: Risk wanes for real estate price declines | Inman News - David

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Fix or sell as is?

Now that's a fixer (click for photo source)!!!

Whenever it's time to sell a home, the "fix or sell as is" question comes into play.  The trick is to make sure the home won't be remembered for what is wrong with it, for what doesn't fit into the neighborhood, for what was over-personalized.  - David

For more info: Avoid home improvement gimmicks that hammer resale value Inman News

Why real estate price padding doesn't work in today's market

Answers: Because the market is not yet resilient, because qualifying is still difficult for many buyers, because listings not received well by the marketplace quickly become stale unless the price is adjusted downward.

Question: Why real estate price padding doesn't work in today's market - Inman News

- David

Real estate sales spike 16% in March | Inman News

Broader, confirming signs of the uptick we've been experiencing in real estate price stability and sales in the South Bay since February. - David

Real estate sales spike 16% in March | Inman News

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Pursue short sale before deed-in-lieu | Inman News

Your home is underwater (vs. the mortgage, that is).  Why not just hand over the keys and the title deed to the bank and walk away?  Because the bank probably won't accept them.  Here's why:

Pursue short sale before deed-in-lieu | Inman News

-David

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Short-sale success strategies | Inman News

What's it take to achieve a successful short sale?

Short-sale success strategies | Inman News

Pretty much what it takes to be successful at anything in real estate: Tenacity, and tenacious, experienced representation! - David

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5 home innovations | Inman News

For the home that has everything, here are 5 innovations from the trade show floor of the International Builder's Show.  One is a cool noise-reducing system that could be perfect for our tightly packed homes in the Beach Cities! -David

Outrage over California tax credit [not shared by your blogger] | Inman News

One real estate agent in the South Bay is "outraged" and "ashamed" at the California homebuyer tax credit legislation recently signed into law by Gov. Schwarzenegger. His letter to the editor appears here, Outrage over California tax credit Inman News, as does your blogger's refutation of its seriously naive reasoning!

I'd call it a little self-defeating when a seller's agent argues against a program designed to stimulate the California economy by helping buyers purchase his sellers' homes, but there it is. Hopefully a few of them are reading this! - David

Beware when buying 'as is' | Inman News

Buying a home 'as is' is very risky business.  This is effectively what you're doing when purchasing a home from a bank (foreclosures or REO), trust, or auction, or if you check the "as-is" box on your offer form. Don't think an inspection can change this.  "As-is" means no recourse! - David

HAMP: Permanent loan mods up 45% | Inman News

Loan modifications are on the rise! This is good news for homeowners and the real estate market as a whole, because it means greater market stability and less foreclosures ahead.

Quoting from the Inman News article, "Borrowers who make their monthy payments on time for a year are eligible to earn up to $1,000 applied to their outstanding mortgage balance." - David

Underwater move-up strategies - Inman News

I do not endorse wrap-around mortgages or all-inclusive trust deeds (AITD's). They're generally viewed as attempts to subvert the intention of the bank or investor holding the original mortgage, and that's not a good strategy for people who like to sleep at night.  Still, creative strategies are needed for homeowners who are underwater and need to make a move. An experienced Realtor is essential to the mix, and a real estate attorney may help to achieve a successful solution as well. - David

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Homebuying in your 70s | Inman News

There should be no issue with your age when you're properly represented by a capable Realtor in purchasing a home.  Considerable legislation exists that quashes unfortunate practices of the past with respect to age discrimination.  I've helped several seniors on fixed incomes purchase homes in the past year without a hitch. - David

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The truth about short sales - Inman News

Here's a good take on some important truths about short sales from Inman News.  The right ones, where seller and lender are cooperating, can be worth going after.  Others, where the lender isn't onboard, can languish on the market for over a year despite bona fide offers. - David
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