A weekend exposition will showcase a hot trend in home building — the high-end log home. Tim Dearman is particularly passionate about log homes. Dearman just finished building his log home in Avery Park, which he’s now selling. “It’s almost depressing when you realize a dream,” he said, adding that he and his wife, Cindy, have already designed the plans and purchased the land for their next “dream” log home.

Log homes are built primarily with unplaned logs, which provide good insulation and give the home a cozy, rustic feel. Timber framing uses natural wood as well, but the wood has been cut and planed, is only exposed on the interior of the home, and feels a bit more elegant, Wertheim said. The craftsmanship of both styles is part of what attracts people to these houses. Timber framing uses post and beam and mortise and tendon-pegged construction. This authentic craftsmanship attracts a certain type of person,” Wertheim said. “They’re typically active, outdoorsy, attracted to nature.” Buyers also are typically older and building second or retirement homes, Wertheim said. The majority of his clients are older than 50. (more…)

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Qualifying for a loan on a second home is easer than it was just five year ago and “two houses are better than one” is now the thinking among a growing number of homeowners. These days, one of the hottest segments of the real estate market is for second homes. Several factors have driven this burgeoning second home market, including housing price appreciation and the favorable interest rate environment of the last several years. What’s at the core of the trend, however, are easier financing options and an aging baby boomer population seeking more spending outlets.

As recently as five or six years ago, extra hurdles got in the way of hassle-free financing of that second property. Lenders often viewed second homes as a higher risk, meaning buyers had to pay slightly higher interest rates and fees and larger down payments. Today, the guidelines of financing that secondary home nearly mirror those of a primary residence as lenders adapt to changing demographics with the help of sophisticated technology that better assess buyer risk. Such tools enable lenders to offer new home loan programs to address the buyer’s needs. Interestingly enough, five to 10 percent down payment is common in second homes. There are a couple of strategies that have been considered by buyers looking to keep their cash liquid and not tied up in a second-home transaction. Tapping into the available equity from a primary home with a cash out refinance loan, especially if the rate is low enough on a first lien refinance mortgage, is one way to fund a down payment on the second home. (more…)

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Seven U.S. real estate brokerage firms unfairly blocked some home sellers from their listing service, the Federal Trade Commission said Thursday.The FTC settled its case against five of the real estate brokerage firms and is suing two more for “anticompetitive rules or polices.” The brokerages withheld access to a valuable real estate listing service if the seller did not sign up for a wide range of brokerage services, the FTC said. That action limited consumers’ ability “to obtain low-cost real estate brokerage services,” the FTC said in a statement.

Under traditional listing agreements, property owners appoint a real estate broker to act as an exclusive agent and pays when the property is sold. An alternative, and typically less costly, arrangement preserves the property owner’s right to sell without extensive help from the broker. The FTC faulted the named brokerage firms for denying full listing services to sellers who sought this alternative arrangement. There are several hundred such real estate brokerage listing services around the country that dominate the regions they serve, said Jeff Schmidt, director of the commission’s Competition Bureau. “The value they provide can sometimes be abused,” Schmidt said, and the FTC has several more such investigations “in the pipeline.”
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Fall is already in the air, which means that another chilly winter can’t be too far behind. So before the cold weather arrives and you snuggle up indoors again, here’s your annual homeowner maintenance checklist of things to do to get your home ready for the change of season.

Check smoke detectors: Please don’t neglect that smoke detector any longer! Take some time right now to check the operation of detectors and to change the batteries. If you have an older house with a limited number of smoke detectors, you really need to install some additional ones. Battery-powered smoke detectors are inexpensive and very easy to install, so add one to each bedroom and make sure there is one centrally located on each level of the home as well. Install a carbon monoxide detector:A fire is not the only danger you can face inside your home. As houses get closed up for winter, the chances of carbon monoxide poisoning from malfunctioning gas appliances increases substantially. If you have a furnace, fireplace, water heater or other appliance that is fueled by propane or natural gas, now is the ideal time to install a carbon monoxide detector. They’re available inexpensively from many home centers and retailers of heating system supplies, they’re an easy do-it-yourself installation, and they can truly be a lifesaver! (more…)

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If you regularly count on Goodwill, the Salvation Army and others to find homes for what won’t fit in your attic, garage or spare room — all while getting a charitable tax deduction — do your spring purging now. That’s especially true if you commonly fudge the value of donated items. In 2007, the Internal Revenue Service will hold you accountable for accurately documenting the value of donated goods under a new tax edict tucked away in the Pension Protection Act of 2006, signed by President Bush this summer.

The broader act is aimed at curing the ailing defined-benefit pension system but it includes a host of unrelated provisions, including one that governs required, accurate documentation when you claim tax breaks for gifts, including household goods trucked off to charitable organizations. Under the current law, the IRS pretty much takes you at your word when you claim a tax break for donations of money or items you’ve valued at up to $250. Documentation is required for larger amounts and, of course, if you are audited. Next year, you might want to put a check in the Salvation Army’s Christmas Kettle and make sure that futon is really worth $50 — if you take the deduction. (more…)

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Whether you are a novice or “old pro” real estate investor, or a real estate agent involved with residential properties, “Buy Even Lower” by Scott Frank and Andy Heller is a “must read” book. Written with easy-to-understand explanations, including many real-life examples, these successful investors reveal their three investment strategies and how to profit from each one.

The authors favor buying “ugly and awful” properties, no matter what their intent is for that property. They like middle-income neighborhoods and houses with three bedrooms and two bathrooms. But they avoid near-perfect houses, which they leave to the “retail buyers” who will pay full market value. Although the authors have bought houses listed for sale with realty agents, and have purchased residences in the various phases of foreclosure, they clearly favor buying REO (real estate owned) from lenders after the foreclosure sale if there were no bidders at the auction. Their reason is there is no emotion involved with the homeowners, and REO sales are strictly business transactions. (more…)

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Even in sunny San Diego, California, the weather has taken a turn and is cooling off, and that means it s a good time to make sure that your home is energy-ready for winter. Keeping utility costs down doesn t have to be a high-energy task, especially if you prepare for the cold weather. The Consumer Energy Center Organization offers numerous tips to prevent your heating dollars from being wasted.

Perhaps the biggest waste of energy is when heat escapes through leaks in windows, doors, fireplace dampers, ducts, wires, and pipes. A well-sealed home is an energy-efficient home that can save you as much as 10 to 15 percent on your heating bill. To make sure your home isn t losing heat through leaks, be sure to check the caulking and weather-stripping, and replace or repair it before you turn on the heater. Seal the holes around plumbing vents as they can cause a great deal of heat loss since they begin below the floor and extend upward through the roof. (more…)

search for : Consumer Energy Center Organization, windows, doors, fireplace dampers, ducts, wires, and pipes