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Real Estate's Hidden Asset

Every
few months, after the last
predictions of a real estate
bubble have passed, it's always
useful to consider the latest
forecasts of disaster.
"After an amazing
four-year boom in residential
real estate," says Business
Week, "the housing market could
finally be topping out and
heading for a downturn. The
culprit: rising interest rates.
Housing prices could then
flatten on a national level in
the next year or so while taking
a spill in overheated coastal
markets." (Is The Housing
Bubble About To Burst? July
19, 2004)
Such articles make a
useful point: Real estate
values, like stock market
prices, can rise and fall.
Yet the art of forecasting
seems awfully difficult: How
many stock analysts foresaw the
Wall Street crash, the Internet
bubble or the fall of so many

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We are
reporting 6,091 single family
closings for July 2004. This
mark is 2.9% below the same year
ago period, but after lagged
closings are reported we should
be up about 5%.
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It's Time To Get Ready
For The Fall Market

The
fall real estate season is gearing up,
and if you are planning to put your
house on the market after Labor Day, you
need to start getting on the stick.
Here are some things to think
about.
First impressions, no matter what
kind of market it is, can make or break
a sale. The professionals call this curb
appeal. The idea is to make the exterior
sparkle.
Sparkle can be achieved in a
variety of ways. The most obvious is by
cleaning, painting and landscaping.
Clean the mildew off the porch
surfaces and the window frames, and
paint them if they need it.
Rake leaves and pick up papers.
Buy plenty of mulch to give the
still-empty flower beds a warm, inviting
look.
If you do not have a front porch
or front yard, consider window boxes, or
put some heavy-duty pots by the entrance
and fill them with flowers.
If the house does not have
shutters, and shutters do not clash with
the architectural style, buy some.
Polish the brass doorknobs, knockers and
mail

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Five Financial Fiascos To Avoid When
Buying A Home

When's
the last time you checked out your
credit scores? A lot of us don't think
much about our credit until it's time to
purchase a home and then it may be too
late. Avoiding these five common
financial fiascos can save you money and
headaches.
Not knowing your credit history.
"Not investigating whether the
credit problem is accurately reported on
the credit report; 95 percent of them
aren't," said John Ramsay, Senior Loan
Officer at Mortgage Partners Inc.
Bankruptcy, for instance, is
hardly ever reported correctly. Bureaus
will frequently still report that a
person owes money, even if it was paid
off in the bankruptcy, but somehow it
was filed incorrectly.
Ramsay said, "If you have a credit
problem, fix it if you can."
Not getting a written estimate.
When borrowers are shopping around
loans, one of the biggest mistakes they
make is not asking for a written
estimate. It's hard to compare loan
programs if you don't have them in
writing.
"It's a bad sign if they won't
give it to you in writing ... If you get
three written estimates you can compare
apples to apples," Ramsay said.
Otherwise clients may not be able to ask
the exact same questions so that they
can compare different sources.

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The
Price Of Staying Cool

When
the country heats up over the summer months, the
price of staying cool will get more expensive in
the years to come. Starting in January 2006, all
home units of central air conditioning and heat
pump systems will have to reach a 30 percent
higher level of energy efficiency. The US
Department of Energy is hoping that the mandate
will cool the need for new power plants and keep
energy consumption under control.
"That'll save a minimum 23 percent on
every new home or air conditioning system sold
in the United States, 23 percent less
electricity used," says Steven Bouman, Energy
Marketing Specialist for Mohave Electric
Cooperative in Bullhead City, Arizona.




Daily News and Advice

Read about the events
shaping the Real Estate market today,
find current interest rates, or browse
the extensive library of advice and
how-to articles written by some of the
top experts in Real Estate. Updated each
weekday.

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Your Home
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11 High Cost Inspection Traps You
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listed, a free report entitled "11 Things You Need to Know to
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