"Low Loan Rates on the Web"
Time (09/21/98) Vol. 152, No. 12; P. 114; Eisenberg, Daniel

Cyberspace is helping to contribute to the record $1 trillion in mortgages expected this year. In the autumn, shoppers will be able to use priceline.com to detail the loan they are looking for and use lendingtree.com to find the lender with the best rate. Other sites, like quickenmortgage.com, eloan.com, and bestrate.com are other places on the Web you can use to find a mortgage. Projected figures suggest that by 2005, 30 percent of the estimated 33 million mortgages around the globe will originate in cyberspace.

"Bathroom Cleaning Strategies"
Washington Post--Home (09/17/98) P. 23; McClintock, Mike

The bathroom is the only room in a house that is routinely subject to damage from water and soap residue on all surfaces. Most bathroom fixtures are designed to withstand this erosion, but even the strongest fixtures can be worn down and must be cleaned regularly. The biggest problem in a bathroom is soap residue on bathtubs. This can usually be cleaned by simply scrubbing the surface, however more serious buildup may require a non-abrasive cleaner. Porcelains can also be hard to clean if they are stained to the point of discoloration. The surface should be scoured with a mixture of lemon juice and salt, with baking soda for deeper stains. Hard water, which has a high mineral content, can also damage metal fixtures. A vinegar solution can help with this problem. Bleach can be used to clean mold on tiles, as long as it isn't used in conjunction with any cleaner containing ammonia. In terms of the water itself, treatment devices can be added to filters, and test kits are also available for identifying hard water.

"Experts Agree Homeowners Shouldn't Wait to File Designation of Homestead"
Business Wire (09/16/98)

The Homestead Recording Service is looked upon as being an invaluable service for Texas homeowners because it offers the best chance of protection against creditors while waiting to file a Designation of Homestead. A new law exposes some homeowners to creditors for two years. Without the designation, creditors are able to go after consumers, and many have lost their homes because they were unable to keep up payments on their residence due to loss of job or an illness that prevents them from working . The services takes care of preparing the necessary paperwork for filing the designation, at a cost of $25; and it even handles the recording and other details of the filing, at a cost of $22, so that Texas homeowners can be confident that the designation goes into effect as soon as possible. For more information, call 800-400-1693.

"New Homeowners Applaud City of Oakland, Keating Housing Initiative..."
Business Wire (09/16/98)

The City of Oakland, Calif., the Keating Housing Initiatives, Bank of America, and almost 100 new homeowners recently celebrated the opening of the Old Town Square condominium development in downtown. The project includes 88 condos and 10 townhouses that were built in Victorian style to reflect the historic atmosphere of Old Oakland. A major part of the project focused upon the creation of additional affordable housing, a goal made possible by Keating, Bank of America, and the city. Keating was chosen because of its proposal to include low- to middle-income housing specifically for Oakland residents who work in the city. The developer said that the project would succeed because of its low down payment requirements and its "critical mass" of homes. Mortgages were provided by Bank of America, which offered the Neighborhood Advantage Zero Down loan for borrowers with strong credit histories but insufficient funds for a down payment.

"New Site on AOL for Mortgages"
Washington Times (09/13/98) P. F3

Through a joint collaboration, financial software designer Intuit, and America Online have created a new mortgage site featured on AOL's real estate center. The new site will integrate Intuit's QuickenMortgage software and offer users a simple means for calculating potential savings from mortgage refinancing, as well as current mortgage rates, and additional local information. As a result of this development, Intuit has become a leading provider of financial information on AOL's personal finance channel, a role which will help both companies compete more effectively against Microsoft's real estate service site, HomeAdvisor.

"Home Network"
U.S. News & World Report (08/10/98) Vol. 125, No. 6; P. 57; Thomas, Susan Gregory

Wiring for computer networks has become an added feature available in new homes nationwide. Retrofitting a newly constructed home typically costs between $2,500 and $3,500, approximately half the cost of retrofitting an existing home. The integration of such networks enables home owners high-speed Internet access from multiple rooms, in addition to a multitude of other high-tech options. These properties may be connected to other nearby homes and schools through a NAN, or neighborhood area network. This link allows sick students to retrieve and exchange information with their teachers and enables educators to E-mail evaluations directly to parents. Such systems may cut costs by managing energy sources more efficiently, shutting off appliances that have been left running, and improving home security measures. Consumers who are looking ahead to advances in fiber optics may purchase home networking kits including the SOHOware Network Plus, Linksys Network Starter Kit, or NetGear Network Starter Kit for between $90 and $130. Network kits that utilize slower telephone lines are also available through IBM, 3Com, Compaq, or Epigram for approximately $1000. Another development formulated by Sun Microsystems, known as Jini software, facilitates "communication" between separated devices operating from different networks. Jini products will become available by late 1999. It is anticipated that the home networking market will expand significantly in the future. Today, the residential market has earned only $100 million, a small figure compared to corporate networking sales which exceeded $26 billion in 1997.

"Choices for Distinctive, Low-Maintenance Door"
Chicago Tribune (09/12/98) P. 4-3; Carter, Tim

Wood doors are not the only option that homeowners have when they are considering making the entrance to their homes more attractive and welcoming. There are also steel, fiberglass, and composite doors to choose from. In an Ask the Builder column on doors, Tim Carter says that another issue that homeowners should be concerned about is the maintenance of doors. "Many of these new doors require specific stains and finishes to achieve good results," writes Carter. Homeowners will have to pay close attention to the detail of wood doors when they are being installed. If they are not sealed completely, door warping and bowing could ensue as a result of humidity. More consumers are said to be turning to fiberglass doors, which are even more resilient than steel doors.

"After You Own One Home, Why Not Buy Several More?"
Chicago Tribune (09/12/98) P. 4-2; Bruss, Robert

Homeownership is one of the most profitable investments a consumer can make, so it may also make sense for someone who already owns one home to purchase another home as well. By renting the home to tenants and managing the home effectively, the homeowner can benefit greatly from the investment. Like traditional homes, rented homes appreciate in value on average by 5 percent annually, according to the National Association of Realtors. In addition, when the rental home is eventually sold, the seller can receive tax-free cash from the sale. When looking for a second home to purchase, buyers should look for homes that are in need of some improvements. The house shouldn't be in need of major repair, but it shouldn't be in near-perfect condition either. The best choice is a house that simply needs a paint job. These homes will be below market value, but once they are improved, their value will increase greatly. If the homeowner has the patience, they can also choose to buy the home, live there for two years, and sell it while profiting by up to $250,000 in tax-free capital gains.

"Safety First"
Chicago Tribune (09/13/98) P. 16-3B; Adler, Jane

The home can sometimes be a dangerous place, especially for senior citizens. There are a number of aspects to the home that seniors should be aware of or should add if they don't already exist in the home. Stairs should have railing on both sides, and the stairs should be tight so they don't wiggle. Homes should also contain smoke detectors, carbon monoxide detectors, and fire extinguishers. Furnaces should also be tested to make sure they aren't leaking. Lighting in a home is also important, and senior citizen homes should contain extra lighting of different colors. There are a number of other factors to consider, including fencing and old trees that may be damaged. Aside from the home itself, seniors can also protect themselves by wearing panic buttons and getting to know their neighbors.

"Classy Clusters"
Builder (09/98) Vol. 21, No. 11; P. 118; Drueding, Meghan

In developing Homestead Park, a community of 240 homes near Raleigh, N.C., Squires Homes made sure that it got just the right land plan it wanted. Squires Homes division president Bob Polanco was said to have gone through dozens of preliminary land plans before settling on a cluster plan. The design of the community clusters detached units of 960 square feet to 1,552 square feet together, which the market seems to have taken a liking to. Homes in Homestead Park are reported to be selling at a pace of six units per month. "Everyone involved ... had a special feeling about the community," said Polanco. "I believe that's why it's been such a sales success." Homes in the community are priced between $89,900 and $121,900.

Published: September 18, 1998

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