Real Estate News Headlines

National & International Headlines

(Site: washingtonpost.com - Real Estate)

• Existing-homes sales rise, inventory swells
  WASHINGTON (Reuters) - Sales of previously owned U.S. homes ticked higher in July thanks to lower prices, but record inventory suggested the battered housing market is unlikely to recover soon, a trade group report showed on Monday.

  

  
• When Cutting the Price, Take a Big Bite, Not a Bunch of Nibbles
  Cutting the price to get your home sold isn't quite as simple as it seems.

  

  
• Neighbors, Boats, Bayfront Summers And a Reverence For Tradition
  Owings Beach is still cozy. There are still snug cottages, built in the 1920s for summer getaways to the bayside enclave in the Deale portion of southern Anne Arundel County. Narrow streets bearing local family names are still walkable because deep ditches and tight turns discourage traffic. Even...

  

  
• Mortgage Shopping, Incognito
  LOS ANGELES -- Even though mortgage lenders have raised the bar on what it takes to qualify for a home loan, shopping for a loan online has gotten easier, if not necessarily less confusing.
  

  

  
• Appraisal Problems Worsened Meltdown
  CHARLOTTE, N.C. -- As soaring home prices set the stage for America's great housing meltdown, a critical step in making sure those home sales were a fair deal -- the real estate appraisal -- was undermined from within.

  

  
• A Worthy Read to Get Serious About Estate Planning
  W e spend most of our waking hours either working to earn money or thinking about what we'll do with it: spend it, save it or invest it, lawyer John Ventura observes in his book "Kiplinger's Estate Planning: The Complete Guide to Wills, Trusts, and Maximizing Your Legacy" (Kaplan, $21.95).

  

  
• Professional Tests Can Uncover Exposure to Lead
  Lead paint poses a real threat to your family's health, especially if you have children. Older homes are particularly at risk for lead exposure. If you live in a house more than 30 years old and haven't yet tested for lead, it's not too hard or costly to do -- and it may be well worth it.

  

  
• Appraisers, Still Feeling Pressure
  Have the real estate valuation shenanigans and inflated home appraisals that characterized the boom years disappeared?
  

  

  
• Searching for A Hot Investment? Try Your Mortgage.
  I know where to get a guaranteed 6 percent return on savings, with no brokerage commissions, bank fees or worries that the Feds are going to have to swoop in and take over the failed institution that has my money. I'm putting whatever extra cash I can find into paying off my mortgage early.

  

  
• Chat Plus
  Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.

  

  
• A History of Welcoming Newcomers
  Juan Carlos Martinez and his wife, Elia, entered La Fondita Restaurant in the heart of Edmonston for lunch on a recent Saturday.

  

  
• Winners and Losers As Loan Fees Change
  The two biggest sources of mortgages for American home buyers plan to raise their base fees to counter what they call continuing "adverse conditions" in the real estate market.
  

  

  
• A Stunning Work of Art, but Who's the Artist? You May Never Know.
  When buildings receive media attention, why do the architects who design them often go unmentioned?

  

  
• Weak Market Creates Advantages for Lower-Income Buyers
  Q: I don't want to continue renting, but I make only $30,000 annually and don't have a lot of money for a down payment. My credit score is over 800, and I'm self-employed.

  

  
• Your First Negotiation: the Agent's Commission
  Home sellers could save money by thinking of real estate commissions as an agent's asking price. It's something that's open to negotiation.

  

  
• Chat Plus
  Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.
  

  

  
• Mortgage Crisis Reaches Resorts
  PARK CITY, Utah -- With the developer forced into bankruptcy court, Hugh Smith worries about the $1 million he and a partner sunk into bare lots at Promontory, a half-built, sprawling residence club in a town saturated with second homes for the wealthy.

  

  
• A Throwback To the McLean Before the Bustle
  Before Tysons Corner boomed and the CIA's Langley headquarters was built, an ad for Broyhill McLean Estates urged folks to get in on a locale that was sure to escalate in value because of the coming "Chantilly airport" (Dulles, 1960) and "Circumferential Highway" (the Beltway, 1962).

  

  
• Sometimes, It's the Agent Who Wants to Break Up
  Q In a recent column about listing agreements, you wrote that you never advise sellers to sign an agreement longer than 90 days. This poses a problem for me.

  

  
• Tax Break on Capital Gains Narrows
  Deep in the nearly 700 pages of the new housing bill is a complicated change in the tax code that could affect substantial numbers of people who purchase second homes or investment real estate in the coming decade with an eye to occupying those homes as their main residence later.
  

  

  
• Foreclosure Crisis Catching Renters Off Guard
  James Austin was stunned when a real estate agent showed up to snap photos of the house he was renting last year and casually informed him the place was in foreclosure.

  

  
• No time to design the ballroom or choose the fountains? $17.5 million gets you a ready-made mansion today . . .
  Have you noticed the empty mansions for sale? Sure, some extravagant new houses are on the market because times turned harder for the original buyers.

  

  
• Chat Plus
  Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.

  

  
• They're Townhouses, But 'This Isn't a Townhouse Feeling'
  In 1974, when the King Charles Commons townhouse development opened in Columbia, a sales brochure described the Colonial-inspired community as recapturing "a bright page in American history" when "the easy and gracious living style afforded leisure time for politics and the arts."
  

  

  
• For Rebound Renters, a Few Things to Remember
  Foreclosures have doubled over the last year, which means a lot of former homeowners are becoming renters again for the first time in a long time.

  

  
• New Tax Credit Amounts To a Free Loan for $7,500
  Anyone who has been hesitant about jumping into real estate until conditions settle down should keep in mind these dates: April 9, 2008, through June 30, 2009.

  

  
• All Signs Point to Confusion
  Do you ever think about how much we depend on highway signs? They tell us where we are; provide essential direction and destination options; and display critical rules about driving, stopping or parking.

  

  
• The Extreme Reality Makeover Show
  Symbolic to our era like a sledgehammer to drywall, the biggest house that ABC's "Extreme Makeover: Home Edition" ever made over -- a sprawling, four-bedroom starter castle, a three-car garage mahal with a turret and all -- has gone into foreclosure, in the 'burbs south of Atlanta.
  

  

  
• Decorating for Dollars
  One thing that irritates home sellers in this overstuffed market is that, even as declining prices whittle away their equity, buyers demand something ever-closer to perfection. Perhaps inspired by Pottery Barn catalogues and HGTV decorating shows, buyers seem to expect that crisp aesthetic even i...

  

  
• 
  Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.

  

  
• A Fertile Tradition of Living Off the Land
  James Chesley Jr., a physician, has the serene look of a man who has found the perfect balance in life.

  

  
• Mass-Produced Homes For Individual Tastes
  NEW YORK -- Prefabricated houses don't have to be ticky-tacky.
  

  

  
• Welcome the Breeze But Not the Bugs
  Even in Washington summers, there are days that make us want to open ourselves up to the world -- the air laden with scents and murmurs that remind us we are connected. And fall follows, of course, with air worth every crisp, low-humidity lungful.

  

  
• Tax Relief, Sans Itemizing
  The giant federal housing and foreclosure relief legislation heading for enactment contains a little-noticed -- but potentially far-reaching -- change in real estate tax policy.

  

  
• Successful Sellers Know How to Think Like Buyers
  I recently spent some time listening to friends who are thinking about moving across the country and buying a house.

  

  
• Finding a Moral in One Developer's Story
  Many years ago when I was backpacking through Asia, I bought books based on the number of pages per dollar. This sounds hopelessly philistine, but the best buys were long books.
  

  

  
• Foreclosures and Short Sales, Equal Ills
  Is there a right way to lose your home? And is there any good reason to pay for "expert" advice on how best to do it?

  

  
• Occoquan's Old-Time Charm Outlasts Calamity
  Before dozens of cute shops, before the town-engulfing craft fairs, Occoquan's history had as many ups and downs as its topography. The old mill town was ravaged by fire in 1916.

  

  
• A Look at Congress's Long-Promised, Long-Delayed Mortgage Relief
  After six months of haggling and political gamesmanship, a massive housing relief bill is heading for final approval.

  

  
• Adapting Community Design to Anticipate Trends
  There are walking trails, swimming pools and tennis courts. The landscape is well-maintained. If you didn't know better, you might think you were walking the grounds of a resort.
  

  

  
• In Architectural Design, Brains and Talent Trump the Best Software
  Fast computers and sophisticated software give architects unprecedented ability to generate powerful designs.

  

  
• Chat Plus
  Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.

  

  
• Keep Your Energy Dollars From Going Up in Smoke
  You know it's coming. This winter's heating bills are going to be stupendous, whether you burn oil, natural gas or kilowatts. If you're going to do anything to minimize those bills, time's a-wasting, beach bum.

  

  
• A Break From the Yard In Suburban Maple Lawn
  When Prassad Karunakaran lived on a half-acre in Sykesville, northwest of Baltimore, tending to his spread came with the mortgage. Over time, the novelty of mowing turned into plain drudgery.
  

  

  
• Keeping Closer Tabs On Brokers
  Should your mortgage loan officer's fingerprints be on file in a national electronic database, even if he or she has never been convicted of a crime?

  

  
• What It Takes to Create a Community
  How do you turn 17,000 acres, 5,000 acres or even 300 acres into a single community that works?

  

  
• To Sell to Gen-Y, You Have to Meet Them Online
  Despite the housing recession, there are still more than 1.5 million real estate agents in the United States.

  

  
• Help for Homeowners Hangs in the Balance
  Congress left town for the July 4 recess with a half-baked cake in its legislative oven -- one that has huge potential significance for the housing and mortgage markets. The relief package left unfinished is designed to help hundreds of thousands of homeowners heading for foreclosure, pull buyers...
  

  

  
• A Realization in Fairfax About Traffic and Housing
  Affordable-housing problems are a perennial theme of conferences sponsored by state and local governments, professional organizations, and trade associations. Fairfax County, one of America's most affluent jurisdictions, recently came up with a smart variation on that theme for its latest housing...

  

  
• Anonymity Carries a Price at New Zillow Site
  Zillow, a popular real estate Web site, now has a complementary mortgage site where neither lenders nor borrowers pay for the service.

  

  
• Mailbox: Condo Coercions, Short Shrift on Short Sales and Testing the Bath
  My mailbox has been full of comments on recent columns about life in homeowners associations, uncertainty with short sales and deciding how much money to invest in a bathroom.

  

  
• Chat Plus
  Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.
  

  

  
• A Garden Haven With a Storied Past
  Situated on 32 carefully landscaped acres just off Wisconsin Avenue NW in busy Tenleytown, the McLean Gardens condominium complex is lovely all year, but certain seasons highlight its best qualities.

  

  
• Storied Historic Homes Suddenly In Dire Straits
  HARTFORD, Conn. -- Mark Twain, Edith Wharton and other famous dead people have something in common with many living Americans: Their homes are in jeopardy.

  

  
• Freshening an Old Listing, and Other Tips for Worried Sellers
  "W e live in Baltimore and are trying to sell our house," writes a reader. "My agent tells me that my listing has to be withdrawn from the local multiple listing service for at least six months, otherwise the number of days on market will carry forward from my old listing to a new listing. Our ho...

  

  
• When Condo Wars Heat Up, Common Sense Can Evaporate
  Let me tell you a story about a game of hardball played over a hot, summery weekend. It happened not at Nationals Park but in a well-kept condominium complex in Reston just a few weeks ago.
  

  

  
• Chat Plus
  Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.

  

  
• Gardener's Paradise Built for Growing Families
  Karen Cepko remembers the day the cows invaded. "One afternoon I had three cows in my back yard, eating my grass," Cepko said. They had wandered in from the farm next door through a hole in the fence. That was shortly after Cepko had moved to Howard County's Holiday Hills subdivision in 1962. Bac...

  <