"Reinventing Communities for the '90s"
Los Angeles Times (11/23/98) P. A3; Lichtblau, Eric

Tierra Nueva is the first cohousing community in Southern California, according to organizers of the Oceano, Calif.-based complex. The cohousing community includes 27 homes that range in price from $145,000 to $210,000. Families living in cohousing communities like Tierra Nueva share a common house for meals and recreation, and have a common interest in certain activities such as gardening. In the past year, the number of cohousing communities has doubled, and there are another 150 cohousing projects under development in 37 states. "People want a wider set of choices, they want more sustainable living, they want to interact with neighbors, and tied to this is a sense of community lost," Xavier de Souza Briggs, Department of Housing and Urban Development deputy assistant secretary for policy development and research, says about the cohousing trend.

"Points to Pursue: Locking In, Deed of Trust"
Washington Post (11/21/98) P. E3; Kass, Benny L.

Washington lawyer Benny L. Kass, in his latest Housing Counsel column in the Washington Post, discusses a deed of trust and locking in. A deed of trust is essentially the same as a mortgage, according to Kass. "Both are written documents that are recorded in the land records in the jurisdiction where your property is located," writes Kass. As for locking in, the procedure results in a binding commitment from a mortgage lender that the company will hold interest rates at a certain level for prospective borrowers for either 30 days or 60 days from the time of application.

"Builders' Closeouts Bring Year-End Savings"
Washington Post--Homes (11/20/98) P. 4

The end of the year is often a good time for prospective homebuyers to get some great deals on homes, because builders are offering incentives to move unwanted inventory. Tom Pellerito, president and COO of Washington Homes, said, "Not only are there savings in terms of closing costs and options, but interest rates are extremely low." The best areas to get year-end savings on a home are places where there is a lot of construction. In the Washington, D.C., metropolitan area, the places appear to be Virginia's Old Town Alexandria; Loudoun and Fairfax Counties in Virginia; and Howard and Frederick Counties in Maryland.

"Historic Homes Require Historic Commitment"
Washington Times--Home Guide (11/20/98) P. F1; Hepner, Ruth

Old historic homes are appealing to home buyers for many reasons, according to Frances Phipps, a member of Montgomery Preservation Inc. in Maryland. She states that older homes are often better built than today's homes, but more importantly, they have their own personality and character. Buyers of older homes will appreciate the classic architecture as well as the surroundings of the home. But the purchase of a historic home requires a strong commitment from the buyer to keep the home in its original condition. Most areas have guidelines on the maintenance of older homes, based on federal guidelines from the Secretary of the Interior. The general principles of the guidelines are that the historic character of the property must be preserved, distinctive materials must be preserved, deteriorated features must be repaired rather than replaced, and any new additions must be performed in adherence with the property's historic elements. Following these guidelines can provide many benefits for the homeowners, including tax rebates for renovation projects and increased property values. Phipps warns those homeowners who aren't comfortable with restrictions on their property to steer clear of purchasing a historic home.

"From Desk Lawns to Bed Desks: Exotic Items for the Home Office"
Wall Street Journal (11/20/98) P. B1; Ho, Rodney

Homeowners are paying more than ever before to make their home offices appear more exotic and unique. Homeowners spent an average of $1,617 on home office equipment last year, up from $1,209 in 1995, according to the School and Home Office Products Association . Lower computer prices have allowed more homeowners to spend money on fax machines, copiers, and furniture. Some items now available for home offices are truly unique. Voice-changer machines allow homeowners to disguise their voice on the phone, and caller ID for televisions prints caller information on the screen while the homeowner is watching TV. Another phone product is The Truth Machine, which allows the homeowner to measure the stress in a caller's voice, a characteristic that may indicate they are lying. Other products available include a desk lawn, a bed desk which allows the homeowner to work from bed, a reminder tree, a miniature shredder, and a pen that can scan a word and provide a definition of the word.

"Realizing the American Dream"
Forbes--Diversity (11/16/98) Vol. 162, No. 11; P. 20

Ethnic minorities in the United States are reaching their dreams of homeownership and other factors that constitute the "American Dream" at a much higher rate than white Americans, according to a study by Stedman Graham & Partners. The compound annual growth rate (CAGR) of home purchases for minorities increased 13.3 percent between 1993 and 1996, while the CAGR of whites increased only 4.46 percent. This information represents strong market potential for companies who try to tap into the ethnic market in order to expand their business, said Alfred L. Schreiber, executive vice president-general manager of the firm.

"First Mortgage to Rework Voice and Data"
TeleServices News (11/16/98) Vol. 20, No. 43; P. 11; Sexton, Sean

First Mortgage Network of Plantation, Fla., is currently testing a Java-based application that will allow the company's agents to give computer users greater assistance when applying for mortgages online. The mortgage company is incorporating into its operations a product from Burlington, Mass.-based Web Line Communications that will allow its agents to walk computer users through the online applications process. "We found that for a borrower to make a decision, he needs clarification on different points and the comfort level provided when another individual is at the other end of the phone," said Garth Graham, senior vice president and national sales manager for First Mortgage Network. "Our customers are not buying impulse products. They are conducting a financial transaction." When computer users click on an icon, an agent will immediately call back. Consultants will even be able to take control of the browser of the computer user. First Mortgage Network is expected to roll out the new feature by the end of the year.

"Burglars' Thoughts Help Fight Break-Ins"
Miami Herald (11/15/98) P. 20H; Lipinski, Edward R.

Most homeowners are reluctant to purchase some sort of security system because they don't think they have anything worth stealing. But most burglars actually pick their homes by chance, hoping to get lucky. Interviews with burglars have revealed a number of factors that determine when and how burglars decide to invade homes. One of the most important factors is location. Many burglaries happen within a few miles of the burglar's home. Homes are typically located near a major road or freeway, but the presence of street lights may not be a factor because many burglaries take place during the day. Most burglaries also occur when the home is unoccupied, so homeowners should attempt to make their home appear in use at all times. They can have neighbors visit the home frequently, or they can set up props in the yard. If the homeowners will be away from the house for a long time, they should cancel all deliveries, and they should find a way to keep the home lit at night. Burglar alarms can be somewhat effective, but some burglars say they aren't deterred by the noise. The best strategy against burglary may be joining a network of neighbors to watch each other's homes.

"S.F. Home Buyers Get Picky, but Prices Still Rise"
San Francisco Examiner (11/08/98) P. E9; Anders, Corrie M.

Home buyers in San Francisco are becoming increasingly cautious when looking for a home to purchase, but prices are still rising throughout the city, according a Home Values survey conducted by Coldwell Banker Residential Real Estate Services. The highest increase occurred in Nob Hill, where a two-bedroom condo in one building increased 43.5 percent in price between April and October. In the southwestern area of the city, property values increased around 10 percent. In many areas where the market was once dominated by sellers, it has become more balanced between buyers and sellers. But low inventories coupled with high demand have been strong contributors to price increases. The best home values are in the southwestern sections of the city. But in the areas where prices have increased the most, some home buyers with moderate incomes have been pushed into the entry-level market.

"HUD Simplifies Payment Formula"
National Mortgage News (11/09/98) Vol. 23, No. 8; P. 18

The Department of Housing and Urban Development recently implemented a pilot program designed to make it easier to calculate downpayments for government-insured loans. The pilot was included in the HUD/VA appropriations bill and is currently being tested in Alaska and Hawaii. HUD has released a letter explaining the process, and supporters say it makes the process simpler and reduces the time and money needed to apply for a loan. The current system is based on a two-step plan that many Realtors and lenders say is too complicated. The pilot will be tested for two years and must first be implemented into HUD's computer system. If it is successful, it may become permanent.

"Groups Seeking to Provide Homes to Women Owners"
National Mortgage News (11/09/98) Vol. 23, No. 8; P. 12

Kansas City Mayor Carol S. Marinovich met recently with representatives from the Department of Housing and Urban Development and Fannie Mae to discuss improving homeownership opportunities for women. The Great Plains program, which began in 1996 as a way to foster homeownership for women in Iowa, Kansas, Missouri, and Nebraska, discussed barriers to homeownership for women as well as solutions. The national homeownership rate is 66 percent, but the rate of homeownership for women is only about 50 percent, a number that drops to 19 percent for women under 35, according to Marinovich. Some of the barriers to homeownership these women encounter include education barriers, mortgage qualifications, and the lack of funds for a downpayment. But there are resources for these women to use, including the Great Plains HOW program, the Kansas City homebuyer education center, education programs, and Fannie Mae's free Internet information at www.homepath.com.

"Take Off: Inspector Licensing on the Rise"
Builder (11/98) Vol. 21, No. 14; P. 34; Maynard, Roberta

States are beginning to look more closely at inspector licensing. "We're seeing a pattern," says Brad Nehls, program administrator for the American Society of Home Inspectors. Licensing has been called for in a legislative report in Massachusetts. A proposal is also pending in the state, as well as in New York, Pennsylvania, Illinois, and Louisiana. The states that currently license inspectors are Texas, North Carolina, South Carolina, Wisconsin, New Jersey, and Oregon. Moreover, Alabama, Arkansas, Tennessee, and Nevada require some form of registration or certificate. Nehls is working with several states on the issue because he does not want to see people who have no training or education pay a small fee and become inspectors. He adds that as inspections gets more attention, more consumers will want them. In some cases today, consumers are having inspections done on new homes.