Deadline Newsroom Update 4/4/08

Deadline Newsroom Update - March found California at a crossroads, along with the rest of the economy; Echo Boomers stepped up; lenders who once wanted to sell homes were wishing they could step back; sustainable solar, lighting and green lifestyles got more entrenched; the economy stagnated, braced for recession and homeowners discovered there's lots to do around the house -- other than spend money, but including actually saving money; another housing portal opened up with Google-like search tools; taxes became more certain than death and credit and mortgage markets remained moribund. Hope, as always, sprang eternal.

Compiled by the Deadline Newsroom
© 2008 DeadlineNews.Com

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FROM THE DEADLINE NEWSROOM

When Will Housing Recover?
An ongoing Deadline Newsroom Poll "When Will Housing Recover," found 35 percent (the largest group) betting it will recover sometime after 2010; 25 percent believe 2010 will see the housing market turnaround; 24 percent say 2009 will usher in the beginning of the end of the housing slump and 15 percent remain under the impression 2008 will find a cure for the housing hangover (they must not be reading DeadlineNews.Com).

Home Prices May Not Rebound Until 2010
Yeah, that's what we said.

• Top Story: 12 Tax Breaks, On The House (The Original)

Market News

• California Cold To 'Jumbo Conforming' Loans

• California Prices Hit Hard, Sales Leveling

• No Recession (Forecast) For CA, Nation

• Word On The Street: Housing Market Grim

• Homeowner Bailout Time?

• Echo Boomers Rock

• Karma: My Name Is REO

Consumer News

• 'Top Ten Things To Look For In A Realtor'

• Give Green Lighting A Go

• Solar Sizzles In San Jose

• Cultivating A Green Lifestyle At Home

• Location Dictates Maintenance Chores

• Wringing Out: Inspections After Floods

• Painting Your House

• Indoor Air Quality Management At Home

• DotHomes Is In The House

• Selling Strategies To Ease The Squeeze

Seconds Anyone?

• Spiff Up Vacation Rentals

Finance News

• No Place Like Home For Saving Money

• California Cold To 'Jumbo Conforming' Loans

• Seller Financing Coming Around Again

• 12 Tax Breaks On The House

• Fed Cuts Deep On Blue Tuesday

• Counselors: Lenders Foreclose Rather Than Modify

• Real Estate Investment Basics

© 2008 DeadlineNews.Com

DeadlineNews.Com's Content Is Intellectual Property • Unauthorized Use Is A Federal Crime

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News From Elsewhere...It Also Hits Home

Consumer
Rookie Mistakes Pitfalls of the First Purchase
Governor Kroszner: Protecting Homeowners, Homeownership
'House Stealing' Scam Combines Identity Theft, Mortgage Fraud

Finance, Credit
Fannie Mae: 580 Credit Score Or Better Or Fugedaboudit
FHA Loans Grow Costly as Banks Add Fees
Mortgage Market Synopsis
Federal Reserve Pumps In Another $50 Billion
Why Mortgage Rates Aren't Lower

Markets (Who was it said the market would turn around in 2008?)
Where Will Housing Market Go Next?
What's It Worth? Housing Outlook 2008
Bush Administration's Sweeping Plan To Overhaul Financial Regulation
Home Price Rebound Two Years Off?
Texas Is the Hot Place to Live
NAR Optimists Drubbed by their Own Dismal Data
Home Prices Off Peak By More Than 15 Percent
New Home Sales Worst Since 1995
Condo Glut To Worsen

DeadlineNews.Com: 'Best Repurposing Of A Realty Journalist'
"Fun, credible, astute and up to date."

Trends/Commentary
Lots Of Uncertainty Developing In The Market For New Homes
Like We Said: Maybe The Media Didn't Report Enough
Oregon's Property Rights Debate, Lesson
Venice Plans For Sea Level Rise
Water World...After The Ocean's Rise

Business/Commercial Real Estate
Nada this month.

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Broderick Perkins, an award-winning consumer journalist of 30 years, is publisher and executive editor of San Jose, CA-based DeadlineNews.Com, a real estate news and consulting service, and the new Deadline Newsroom, DeadlineNews.Com's new backshop. In both cases, it's where all the news really hits home.

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No Place Like Home For Saving Money

Living the simple life at home can help you realize the savings you need when times get tough.

by Broderick Perkins
© 2008 DeadlineNews.Com

Deadline Newsroom - Whenever the prospect of economic recession looms, conversation is often peppered with words like "belt tightening" "frugal" "thrifty" and "economical" as we scramble to change our spendthrift ways.

However, what we often overlook in our haste not to make waste, is that there's no place like home to save a bundle.

Just ask architect Sarah Nettleton and landscape historian Frank Morton.

They wrote the book on the subject.

Well, not specifically about saving, but it does engage other means to that end.

"The Simple Home: The Luxury of Enough" (Taunton Press/American Institute of Architects, $40) delves into the realm of simplicity, the idea that having "enough" is often much more than we really need.

Human-scaled, low-maintenance, green, unadorned homes with straightforward floor plans and natural lighting can be a better deal than starter castles cluttered with stuff we don't use.

The key is, when we inspect our lives at home, we can often find areas where the simple life is a better, less expensive life.

It doesn't matter where we live, what kind of home we have or how much it cost. If we make it simple, the savings will come.

How so? Nettleton explains:

Enough already. A simple home offers the luxury of space in a world of clutter. When you identify your true tastes, throw out notions of what you think you should have, avoid excess clutter and maintain only the essentials, simplicity begins to set in. Sure, you need a place to eat, but does it really have to be a separate dining room?

Flexible use. Rooms can serve multiple purposes and help you get more out of what you already have. A breakfast nook can be a play area until a child ages. A kitchen can double as an art studio. Make a small screen porch more functional by installing a custom-sized table rather than going to the equity till again to enlarge the porch.

Thrift-minded simplicity. Fresh tomatoes from the garden taste better than greenhouse food. They'll also get you outdoors. Make a list of simple pleasures that delight but do not require expenditures for more stuff.

Timelessness. Avoid the attraction to "new" for "new's sake." Select a starting point for the feel of your home, edit your wish list down to one favorite image from a book or magazine. Trust your instincts. Your own style is authentic and timeless.

Sustain. Gizmos don't create sustainability. You do. Find the balance between what you can afford and what you really need. A comfy window seat tucked into a window nook in a just-right size room can be as comfortable as a large custom leather sofa in an imposing large room.

Resolve complexity. We all talk about disliking complexity in our lives, but can we walk the talk? Examine aspects of your home that prove troubling. Identify the real value of change. Is bigger really better? That new home's kitchen is darkened by the attached garage. Is saving a few steps with the groceries really worth missing the morning sun in your kitchen?

© 2008 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist of 30 years, is publisher and executive editor of San Jose, CA-based DeadlineNews.Com, a real estate news and consulting service, and the new Deadline Newsroom, DeadlineNews.Com's new backshop. In both cases, it's where all the news really hits home.

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'Top Ten Things to Look For In A Realtor'

A Beverly Hills real estate agent to the stars offers ten tips for picking a real estate agent in today's softer real estate market where money is tight and competition is tough.

by Broderick Perkins
© 2008 DeadlineNews.Com

Deadline Newsroom - To Connie De Groot, a rising-star of a Beverly Hills real estate agent in Coldwell Banker's No. 1 office worldwide, choosing a full-time real estate agent isn't about anti-competitive behavior or shutting out part-time discounters.

It's about obtaining full-time service for the full-time job of selling or buying what's likely the owner's or buyer's greatest asset, says De Groot whose agent-to-the stars position in the high-priced West Los Angeles market doesn't hurt when it comes to her sales consistently ranking in the top 2 percentile among Coldwell Banker agents worldwide.

With full-time service, says De Groot, comes value that offsets savings customers expect from a discounter.
"If someone represents a client ever so often, how can they negotiate with someone who is out there looking and negotiating week after week?" she asks.

In order to have knowledge about the market you must be always involved. An agent who is seeing new properties every week, and or looking on the weekends, will offer that advantage to a buyer or seller," she adds.

With a full-time agent as the No. 1 quality to seek in a real estate agent, here's De Groot's "Top Ten Things to Look For In A Realtor."

• Get a licensed agent working full time. Full service means the agent is working for you whenever you are in need. Full time agents are best prepared to resolve problems that crop up during negotiations and inspections as well as those that occur after the purchase.

"How can you possibly advise someone on an offer price when you haven't seen many of the homes that sold recently? It makes sense that someone who is doing something full time can offer more than someone who is part time or with a partial commitment to this industry. The top firms offer education and national and international networks to promote a property. There are reasons why agents stay with these firms even when the commission splits with discount firms seem better," says De Groot, who, with her own celebrity-style visage, was recently featured on "Real Estate Confidential," a behind-the-scenes look at the business of buying and selling real estate. The show runs on E.W. Scripps Co.'s Fine Living Network, a sister network to HGTV.

• Get an agent with passion, enthusiasm and dedication. This is the agent who goes the extra mile to get the best results, even with the going gets tough.

• Get an agent with market savvy. Consistent sales in a given neighborhood reveals geographic market smarts that can save money. Knowledge is key.

• Get an agent who is creative. Look for someone who can write purchase offers that excite a seller and satisfy the buyer. De Groot says a primary concern in today's market is tighter lending requirements. Buyers need to be schooled in their risks and obligations to lenders.

An experienced agent will know the right questions to ask and have strong relationships with lenders they trust. "The point is to avoid having a client get into trouble. There is a delicate way of speaking about money and it is crucial that a serious talk is had before moving forward," she said.

But money isn't everything.

"Money is not the only solution to every problem. There are many things a seller can offer to make a hesitant buyer reconsider -- time, financing conditions, offering personal property in the deal, making property adjustments that aren't costly but a time saver for the buyer. Each situation is different. A list of motivators can help sort out options that keep the deal together," De Groot advised.

• Get a tech-savvy agent. Most home transactions today begin on the Internet. All eventually get a technology assist.

"In this day and age, people expect information the moment that it becomes available. Imagine, for instance, that your dream home comes on the market on a Monday evening. Now imagine that three or four days pass before your agent becomes aware. That gives other buyers just enough time to get their offer in and possibly take away your shot at that perfect home," De Groot said.

• Get a team player. A real estate agent with a network of professionals at his disposal can take the screws out of finding a good handyman, insurance agent, mortgage broker, home inspector or a variety of other home buying and owning professionals you will need.

Beware.

"Referrals are many times due to conflicts of interest. Get them to disclose, disclose, disclose their relationships," she said.

• Get an agent with a licensed right hand man or woman. You'll often need someone to talk to when your agent isn't available. The assistant should have knowledge of the pertinent facts related to your transaction.

"A full time agent has more than one client. It is no different than an experienced attorney or doctor. In order to be available for clients every day, an assistant is necessary. For example, a listing appointment could last for three hours and during that time someone could call to discuss an offer on your property. Would you want that call to go unreturned for hours? It is crucial that this kind of call be returned immediately," De Groot said.

• Get a well-respected agent. Other agents make deals with agents they respect, trust and with whom they enjoy working.

• Get the scoop on your agent. Ask to speak to past and present clients and ask to review multiple listing service (MLS) reports of his or her sales.

"Everyone understands the value of referrals. The MLS details will show what in fact that agent has sold and when those sales occurred.

• Get an agent you trust.
"It is imperative to select a Realtor who understands you, one that you respect and with whom you feel comfortable sharing your thoughts and concerns. Without a level of trust the client will not experience the full benefits of a full-time Realtor," De Groot said.

• Do you have a complete Top 10 list for finding a real estate agent, full or part-time? Send your full list with some detail about each point and contact information to DeadlineNews.Com.

© 2008 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist of 30 years, is publisher and executive editor of San Jose, CA-based DeadlineNews.Com, a real estate news and consulting service, and the new Deadline Newsroom, DeadlineNews.Com's new backshop. In both cases, it's where all the news really hits home.

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