In recent years, a bevy of discounters has sprung up across America. They have shaken up the real estate industry by offering real estate brokerage services for less than the traditional 6 percent of the selling price. In many cases they also provide somewhat less than the traditional amount of service.

Some discount brokers offer a menu of services and tailor their fee according to the menu items chosen. Others say they offer full services and simply are discounting the price. ZipRealty, which operates in 16 markets nationwide, will list your home on the Multiple Listing Service, or MLS, show your property to prospective buyers, and help you get the deal to closing. “We offer home buyers and sellers all of the services of a traditional brokerage,” says Richard Roberts, ZipRealty’s vice president for marketing. “We charge significantly less to represent the seller while still offering market-rate commissions to the buyer’s agent.” Founded in 1999, the California-based company charges either 1 percent below the traditional commission or a minimum listing fee of $2,000. That’s in addition to an agreed-upon fee which is paid to any cooperating broker who brings a buyer. (more…)

search for : discounters, 6 percent, discount brokers, home buyers, ZipRealty

Nationwide, a five-year housing boom has cooled, judging from growing statistical evidence and the performance of some of the nation’s leading builders, the Associated Press reported earlier this year. In March, the Commerce Department reported January sales of new, single-family homes fell 5 percent - the fourth decline in seven months - and the backlog of unsold, new homes hit a record.

But local real estate agents say Middle Georgia has been insulated from the same kinds of highs and lows that have hit the national market. “It’s been a very balanced market,” said Realtor John Conn of Conn Realty. “Much of the (news) reporting is based on national reports, and those don’t necessarily speak for our particular market here in Middle Georgia. They were talking about bubbles, and now they are talking about a slowdown. We’re not really experiencing that here.” (more…)

search for : housing boom, leading builders, Associated Press, Commerce Department, Georgia

Nestled behind the most popular campground in the Great Smoky Mountains National Park stand the rickety remains of a rustic vacation community that began before the park was established and thrived for 80 years. Still visible are 74 buildings, including the Wonderland Hotel, the Appalachian Clubhouse and cabins that make up the Elkmont Historic District, a logging community that was turned into a summer resort area around 1910.

Park officials now say they prefer an option that retains the Appalachian Clubhouse, 15 cabins near it in an area called Daisy Town, a cabin awarded to one of the park’s founders by President Franklin Roosevelt and a larger cabin on so-called Millionaire’s Row that once belonged to Col. W.B. Townsend, head of the logging company that established Elkmont. The Appalachian Clubhouse would be restored for day use and exhibits would explain the history of Elkmont. The plan would cost about $5.7 million. Park officials are gathering public reaction to that plan until May 11 and hope to announce a final decision by early 2007. (more…)

search for : Great Smoky Mountains National Park, Appalachian Clubhouse, President Franklin Roosevelt, Elkmont

Stone Mountain’s imposing granite mass looms to the southeast, while the faint outlines of high-rises in Atlanta can be seen to the southwest through the mid-afternoon haze. Looking down, cars and trucks stream by on Interstate 85, and stop-and-go traffic navigates surface streets lined with shopping centers and office buildings in the Gwinnett Place business district.

If county officials started a new chapter in Gwinnett’s growth by adopting rules for high-rise condos in December, the two towers would be the first page. Others could follow, but when and where will hinge on the same factors that guide the loftiest high-rise to the lowliest subdivision - namely, supply and demand. Some question how much demand exists in Gwinnett County for high-rise living, but developers and real estate investors are willing to seek the answer through market research and number crunching. (more…)

search for : Stone Mountain, Atlanta, Interstate 85, Gwinnett, Gwinnett County

In a local hot market where there are more qualified home buyers than homes available for sale (called a seller’s market), it’s very easy to sell a home by placing a newspaper ad and waiting for the purchase offers from buyers. But when there are more homes for sale than qualified buyers, that is a buyer’s market. Most local home sales markets are currently neutral with an adequate supply of homes available for sale and many qualified buyers eager to purchase.

Unless your home is listed with a member of the local MLS, who then markets the listing at this major Web site, your residence won’t be exposed to the largest number of prospective home buyers in your community. FSBO sellers lack this big advantage. A major problem for most fizzbo home sellers is how to create a legally binding purchase contract without a listing agent being involved. Lacking a listing agent, this task can be a major challenge because the home sale forms sold at stationery stores usually are worthless. In addition, home sellers must comply with local disclosure ordinances, such as providing written defect disclosures (to prevent after-sale lawsuits), building code compliance, energy reports, natural hazard disclosures, lead-based-paint disclosure and booklet, and other applicable disclosures. (more…)

search for : qualified home buyers, a seller’s market, FSBO

Thanks to American Hiking Society’s National Trails Fund grants program, 17 nonprofit organizations across the country will receive a much needed boost to their efforts to establish, promote and protect foot trails and hiking opportunities. The national nonprofit will distribute $50,000 in grants, ranging from $500 to $7,300, that are generally matched by cash or ’sweat equity,’ for projects ranging from volunteer support to trail maintenance and construction. The 2006 National Trails Fund awards are made possible by generous support from the program’s sponsors, L.L.Bean, MSR and Therm-a-Rest.

Other recipients of the 2006 National Trails Fund are: Camp Tyler Foundation (TX), Carteret County Wildlife Club (NC), Coastwalk (CA), Colorado Mountain Club (CO), Cove Point Natural Heritage Trust (MD), Elkhorn City Area Heritage Council (KY), Georgia Pinhoti Trail Association (GA), Grand Staircase Escalante Partners (UT), High Sierra Volunteer Trail Crew (CA), North Coast F.O.R.E.S.T. Association (CA), Pacific Northwest Trail Association (WA), Superior Hiking Trail Association (MN), The Norman Bird Sanctuary (RI), Wallingford Land Trust (CT) and Weber Pathways (UT).
(more…)

search for : American Hiking Society, National Trails Fund, L.L.Bean, MSR, Therm-a-Rest, Georgia Pinhoti Trail Association (GA)

In a recent article you said, “Now you know why I never recommend negative-amortization adjustable-rate mortgages (ARMs).” Does that mean you changed your advice? I recall your many articles recommended the COFI (cost of funds index) ARMs, which have negative amortization.

RMs that use the COFI do not always have negative amortization where the borrower’s monthly payment increases slower than the interest index increases. The result can be the unpaid interest is added to the mortgage balance, thus creating negative amortization. I have never recommended negative amortization ARMs. Personally, I have had several COFI adjustable-rate mortgages that didn’t have negative amortization. (more…)

search for : negative-amortization, adjustable-rate mortgages, ARMs, COFI