"Across the USA: Georgia"
USA Today (08/11/98) P. 5A

Lakeland, Ga., is painting murals on buildings downtown of older residents as they looked in 1925, for $600 each. The program is an attempt to rekindle interest in downtown so that the area can be revived.

"Greener Grass"
Miami Herald (08/10/98) P. 5B

Researchers at the University of Florida (UF) have found that there is a 50 percent chance that landscaping will increase the value of a home. UF landscape architects recently upgraded the lawns of four houses in Central Florida, two of which sold at a price that more than covered the cost of the landscaping. "It's important to have a good design," said Bob Degner, director of the Florida Agricultural Market Research Center at UF. He noted, however, that just buying any old plants and sticking them about helter-skelter would most likely just be a waste of money.

"Investigate All Avenues Before Choosing A Real-Estate Agent"
Philadelphia Inquirer (08/09/98) P. R2; Heavens, Alan J.

The author discusses feedback from a recent column on selecting a real estate agent. Specifically, he points out that Ira Naditch, a Realtor who holds an "Accredited Buyer's Representative" designation from NAR, disagrees with the author's contention that an open house is the best place to see a real-estate agent in action. Naditch argues that an agent hosting the open house is representing the seller, not the prospective buyer. Naditch recommends a prospective buyer call any reputable real estate office "and ask for a Realtor with the ABR designation." The agent should be able to facilitate a meeting with an appropriate lender, Naditch adds.

"Knowing When to Move Again"
Boston Globe (08/09/98) P. G1; Martin, Ellen James

Columnist Ellen James Martin maintains that homeowners can save on their home-financing costs if they know they'll be moving sooner or even later than the average citizen. Bear, Stearns & Co. analyst Sale Westhoff explains, "There's a smorgasbord of loan products out there for people who have a good idea how long they'll stay in their home." For example, people planning to move soon should consider an adjustable-rate mortgage. Americans have been moving at an accelerated pace in recent months. Indeed, Lehman Brothers reports that the average U.S. homeowner now moves once every 6.5 years, compared with the one move every 8.3 years recorded at this time last year. Jeffrey Biby, a senior mortgage strategist at the firm, says that rising property values and the continued health of the domestic economy are prompting more and more of today's homeowners to move to bigger and better houses.

"Pricing High is a Big Mistake"
Miami Herald (08/09/98) P. 2H; Hymer, Dian

Since real estate is traditionally more marketable when it's a recent listing, columnist Dian Hymer recommends that homeowners should exercise caution and avoid inflated estimates when calculating the list price. Even in the best real estate markets, overpricing is a self-defeating strategy since it typically lengthens the period a property remains on the market, reducing the price still further. In general, homeowners should advance a list price within 2.5 percent to 5 percent of the anticipated selling price. With the assistance of a local real estate agent, consumers can obtain a comparative market analysis (CMA) and compare the selling prices of similar area properties. In higher price ranges, deviation between the sale and list prices may be as much as 10 percent. Pricing strategies should also be sensitive to adjustments in the market. In a market where home prices are increasing, consumers should list a reasonable price and expect that bidders will naturally raise the cost, if it is less than the market will bear. In a declining market however, homeowners are advised to undercut competition by reducing the list price up front and avoid chasing a falling market.

"Crystal Lake: Planners to Ask Residents for Input"
Chicago Tribune (08/09/98) P. 16-5V; Kane, Tim

Beginning in September, the Crystal Lake Planning Department in Illinois will distribute surveys to area residents, in an effort to compile information regarding community needs and development issues. According to Michelle Rentzsch, the collected results will be studied and utilized as local planners revise Crystal Lake's zoning map and comprehensive development scheme. Committee members anticipate that the current condition of U.S. Highway 14 will be a prevalent topic among responding residents. However other committee members, including Dirk Vause, questioned whether many of the submitted suggestions could be implemented. "It's a noble idea to get input from the community," Vause conceded. "[However], I have serious doubts we're going to get feedback we can use."

"Construction-Defect Lawsuits 'Terrible' for Homeowners"
Baltimore Sun (08/09/98) P. 9N

Condominium owners who discover construction defects and file lawsuits against the builder may expect a lengthy litigation process and significant stress. As Karen Conlon, president of the California Association of Community Managers, describes, "It's terrible: In most cases homeowners are not able to get refinancing or sell their units because no one wants to walk into a situation like that." Owners are often advised against repairing defects since the damage may be utilized as evidence for pending legal action. By law, construction-related lawsuits must be filed within a decade from the time a builder completes the project and within three years following the identification of a defect. Typically, the duration of litigation activity varies between 18 to 24 months and may cost a homeowners association hundreds of thousands of dollars. Prior to securing legal representation, homeowners are encouraged to study an attorney's record with the state bar and check references. "Make sure the attorney doesn't over-inflate what the real problem is," states Conlon. In most cases, homeowners association attorneys are successful in recovering funding for the repair of major defects however, the cost of correcting superficial flaws is often not included in the settlement.

"What's New in Solar Power"
Electronics Now (08/98) Vol. 69, No. 8; P. 53; Siuru, Bill

Many homeowners who have considered solar power may have been discouraged by the technology's high costs and unappealing appearance. Now, however, as the price of home photovoltaics declines, suppliers are working with architects and builders to develop "Building Integrated Photovoltaic" (BIPV) residential systems that are much more pleasing to the eye. The new BIPV systems have a dual purpose: converting sunlight into electricity while also performing the jobs traditionally done by roofing materials. Two examples of the new technology are United Solar System's Uni Solar PV Shingles and Atlantis System's SunSlate Roofing System. Michigan-based United Solar offers a line of solar shingles for residential applications in addition to other solar metal-roofing products for commercial buildings. The solar shingle is integrated with combiner boxes, inverters, and wiring to turn sunlight into electricity and evenly distribute it. Uni-Solar's PV Shingles are installed like a regular asphalt shingle and any roofer can perform the work. The shingles have already been installed on several demonstration homes. Atlantis Systems Inc. also offers BIPV capability with its attractive SunSlate Roofing System. The tiles, each of which can produce 12.5 watts, are being used by the Sacramento Municipal Utility District and the Sacramento Housing and Redevelopment Agency on 20 new homes. The use of solar energy in homes will also get a major boost from President Clinton's "Million Solar Roof Initiative."

"'Staging' a House for Prospective Buyers"
New York Times (08/09/98) P. 34; Kopytoff, Verne G.

Improve to Move is a professional home staging company that is based in the San Francisco suburb of Orinda. Focusing on upper-middle class and wealthy neighborhoods that consist of homes costing $400,000 or more, Jenifer Brunk and her partner Gray Hynes not only tell home sellers what items around the home should be removed, but they also redecorate empty houses. In the past, real estate agents have been at the forefront of giving home sellers advice on how they should best go about preparing their home for sale. However, a number of agents view the professional home staging services as a valuable commodity. "I think it is the best money a seller can spend," said Malin Giddings, an agent at San Francisco-based Tri Coldwell Banker. Giddings even considers it "a crime" when agents do not tell clients about professional stagers.

"New Designs Put a New Spin on Ceiling Fans"
Los Angeles Times--Washington Edition (08/09/98) P. K10; Dulley, James

James Dulley suggested in his latest home improvement column that ceiling fans offering wider ranges of speeds are the best to purchase because they tend to offer the most comfort and circulate air quietly. "This is particularly important when installing one in a bedroom or if you plan to use it in the winter too," writes Dulley. Among the design features Dulley says homeowners should look for in a fan are die-cast motor housing, permanently lubricated sealed bearings, rubber or cushion mounted flywheel, and steep blade pitch.

"Affordable Options"
Builder (07/98) Vol. 21, No. 9; P. 164; Maynard, Roberta

Prospective home buyers in Denver will have more affordable homes to choose from now that Village Homes has taken trades and consumers suggestions to heart to lower its prices. As a result, the home builder will be able to offer its 1,534-square-foot Bravo model for only $135,160, down from $150,500. What Village Homes learned from the trades was how it could improve its construction methods, and what the homebuilder learned from consumers is that there are several features in their home designs that they do not care for. "The goal was to trim hard costs and drop pricing," said Cheryl Schuette, vice president of sales and marketing for Village Home. "We wanted to know what Village could do differently as far as construction practices and amenities." The homebuilder plans to enlarge its kitchen space and create a great room in one floor plan, while eliminating a small formal living room. The new model should allow Village Home to improve on the 20 percent volume of homes it currently sells for less than $150,000.

"Savin Hill--A Boston Neighborhood With Its Own History"
Boston Globe (08/08/98) P. G1; Howley, Kathleen

Savin Hill, a one-square-mile area in the Boston suburb of Dorchester, is becoming one of the best places to live in New England. Nancy Sullivan, owner of the Sullivan Company Real Estate realty firm, has been selling real estate in that area for the last 25 years. She notes that Savin Hill is broken up into distinct sections: "over the bridge" and "not over the bridge." The "over the bridge" section is full of single-family homes, including a number of Victorian-style residences, that sell for between $160,000 and $230,000. Sullivan notes, "It's definitely more desirable to live 'over the bridge.' On the ocean side ... [homes] are closer to the beaches. They tend to have bigger yards, and more of a country feeling. On the other side, 'not over the bridge,' the houses are smaller and closer together." Indeed, attractive homes in that section of the Savin Hill neighborhood, sell for between $130,000 and $200,000.

Published: August 12, 1998

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