"Lakefront Land Is New Frontier for Home Buyers"
Miami Herald (09/13/98) P. 1H; White, Donna Gehrke

Real estate professionals in Florida say that a lakefront view is almost synonymous with housing these days. "When you are in Florida you think of living on the water," says Lani Kahn, marketing and sales vice president for Lowell Homes. These days, "people come in saying, I want to live on the water," adds Yaznae Tauler, customer service representative for Atlantic Gulf Communities. Housing market observers estimate that today there are more than twice as many waterfront home as there were 20 years ago. And a large number of the waterways are man-made, which prospective homebuyers don't appear to mind. According to David Dabby, senior vice president of Miami-based Appraisal and Real Estate Economics Associates, 25 percent of homes in new developments have a waterfront view. Waterfront views tend to add anywhere from $15,000 to $40,000 to the cost of a home.

"Web to Offer National Home Appraisal Data"
Baltimore Sun (09/13/98) P. 1M; Harney, Kenneth R.

A joint venture to be formed by the Appraisal Institute and FNC Inc., an Internet software firm, will create the first national online database of appraisal information. The service will cover millions of homes and will allow both individual home buyers and professional lenders and brokers to determine the value of a home. This type of service has always been available, but only to professional appraisers and not on a national basis. Users of the service pay between $5 and $10 to view a property. Information on the home includes its price and tax information, a neighborhood description, and a detailed description of the home itself. Visitors can also look at comparable homes to determine the market value of a home. The service on the Web site, which has yet to be named, will likely only be used by a small fraction of individual consumers, but will be used mostly by lending institutions, according to William B. Rayburn, head of FNC.

"Homebuyer Sessions Thursday and Sept. 24"
Baltimore Sun (09/13/98) P. 11M

Homebuyers in the Baltimore area are encouraged to attend a free seminar, sponsored by Tri-Churches Housing, on real estate purchasing transactions. Industry professionals will be on hand to discuss the process, and written information on home-buying will also be made available. The class will be held at 6:30 p.m. on Sept. 24, at St. Jerome's Head Start Center.

"Housing Options Changing for Aging Population"
Washington Times (09/11/98) P. F35; Reeves, Pamela

With more and more Americans surviving well into their 80s and 90s, housing options for the elderly are increasing. Indeed, the choice is no longer just between a standard house and a nursing home. Harvard University's Joint Center for Housing Studies reports, "Growing demand for different levels of care has spawned a broader range of options. These new assisted-living facilities combine several levels of care in a residential rather than an institutional setting." Those interested in exploring the various assisted-living options available can visit the Assisted Living Facilities Association of America's Web site at www.alfa.org. For current data on reverse mortgages, log on to the National Center for Home Equity Conversion's Web site at www.reverse.org. Analysts report that the highest number of assisted-living facilities are in such states as Texas, Florida, California, Arizona, North and South Carolina, and Pennsylvania.

"Let a Realtor Help You Find Financing"
Washington Post--Home (09/11/98) P. 3; Morgan, Sarah

In today's competitive mortgage lending market, first-time home buyers may choose from so many financing options, that selecting the best package without the support of a Realtor, can prove a daunting task. Consumers searching for a low down payment loan on their first home will save considerable time and effort by enlisting the assistance of a residential real estate professional. Not only are these individuals extremely knowledgeable about current financial packages, but most know from experience which local lenders offer the most competitive rates and payment programs. A licensed Realtor can also determine whether a first-time home buyer may be eligible for specific programs, particularly those contingent upon a consumer's income or housing selection. Before meeting with a Realtor to discuss these options, home buyers should compile records which certify a source of income, a complete listing of all monthly consumer credit payments, and recent savings and bank account statements. Consumers are also advised to truthfully disclose their credit history to a Realtor, since they may offer solutions for repairing existing negative remarks.

"Market Turmoil May Allow U.S. Homeowners to Refinance"
Reuters (09/10/98) ; Rozens, Aleksandrs

Global economic turmoil may be hurting stock market investors, but homeowners only stand to benefit from the fluctuations. Problems around the world have led investors to reconsider U.S. Treasury securities, a change which has stimulated low bond yields and record low interest rates. Homeowners can save money over the term of the loan by refinancing to a lower interest rate during this period. Many consumers are already learning more about the refinancing process, and it is anticipated that the amount of refinancing activity will intensify in the next few months, as homeowners return from summer vacation and take advantage of the low rates.

"The House of Your Dreams--Pixel by Pixel"
Business Week (09/07/98) No. 3594; P. 114; Murphy, Kate

Consumers looking for a home to purchase can use the Internet as one of their key resources. Going online allows home buyers to search for homes without the help of an agent, and many sites also have financial sections where the user can determine what type of loan is right for them. There are a few noteworthy sites. Realtor.com, the official site of the National Association of Realtors, which is operated by RealSelect, contains 63 percent of the listings found in multiple listing services. At this site, users can input what kind of home they are looking for--including factors such as price, size, and location--and they will receive a listing of homes that meet their needs. Microsoft's HomeAdvisor.com isn't as extensive as Realtor.com, but it includes more detailed information about the home's location. Other sites such as International Real Estate Digest and HomeHunter.com provide more localized home listings. There are also sites that feature for-sale-by-owner homes, as well as property assessments.

"1st Fuel Cell Home Lights Up in N.Y."
Power Engineering (08/98) Vol. 102, No. 8; P. 12

Power Plug LLC--a joint venture of DTE Energy and Mechanical Technology Inc.--has put the first residential fuel cell into operation in a house in Latham, N.Y. The company figures that mass production, expected after the turn of the century, will make the use of fuel cells an economical option for more than 25,000 homeowners with access to natural gas. Through improved processes and reduced material costs, the price will drop to about $3,000 per unit; and most customers who make the initial investment will immediately realize cost savings of 20 percent over current power expenses. Besides using fuel cells to heat their homes and hot water, residential customers will be able to sell excess capacity to the power grid. While the market for residential cells is large, commercial units are under development and could be available as early as 2000. These units--which will run on the hydrogen from natural gas, propane, or methanol--are likely to enter demonstration tests by the end of this year.

"Home Sweet Home Page"
Smart Money (09/98) Vol. 7, No. 9; P. 136; Harrison, Emily

Consumers interested in buying or selling a home can use the Internet to find information about virtually every part of the real estate transaction. When Tom Canty and Nancy Villalobos were trying to move to San Diego, they used the Internet to research the city's traffic, to find the best neighborhoods for new homes, and to search for and set up appointments for homes. For other prospective home buyers and sellers, the Internet offers comprehensive information and can make the process run more efficiently. There are sites available to find brokers (Realtor.com), neighborhood features (Microsoft HomeAdvisor) and mortgage information, among other areas. These types of sites are becoming more popular among home buyers. About 15 percent of all homebuyers use Realtor.com because of its extensive listings, according to Stuart Wolff, CEO of RealSelect, which operates the site. One of the biggest benefits of using the Internet to find this type of information is that it saves time and effort. The Internet allows home buyers to find homes and even view them, and it prevents the home buyer from being forced to spend a lot of time visiting many homes. This also helps Realtors and brokers because it allows them to reduce the amount of time they spend showing homes while still earning a commission. In addition, the Internet allows people who may not be comfortable dealing with a Realtor to look for homes on their own.

"Desert, Anyone?"
Unique Homes (09/98) Vol. 27, No. 5; P. 236; SanFilippo, Michele

Surrounded by stunning red rock formations and the beautiful Arizona desert, Sedona is a city that draws visitors by the millions annually. The famed Red Rock Fever induces some to stay permanently in this amazing desert city. However, Sedona is not merely a growing city of 800,000 graced with fantastic landscapes, it's also one of the best regions for real estate investment in the country. Situated halfway between Phoenix and the Grand Canyon, Sedona lies adjacent to the Coconino National Forest and wildlife reserves. This positioning affords residents scenic surroundings but places a ceiling on the city's ultimate growth potential. For this reason, upscale property values are expected to rise well into the future. Affordable but exclusive luxury residences can be found in the gated communities along Soldiers Pass Road or Dry Creek Road at prices that rarely exceed $1.2 million. For buyers interested in designing their own home, vacant land with a view is also still available for figures of $500,000 or more. In Tucson, five picturesque mountain ranges provide an impressive backdrop to upscale area homes. These residences are usually designed in the Santa Fe or Spanish style and often incorporate outdoor Arizona rooms, alongside open patios and desert gardens. Typically such high-end homes are sold for prices exceeding $1 million. The Foothills community, north of Tucson, is an exclusive area of gated neighborhoods that include some upscale properties, valued at $3 million and more due to their close proximity to the Santa Catalina Mountains.

Published: September 15, 1998

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