home equity plan may

When Your Home Is on the Line: home More and more lenders are offering home equity lines of credit. By using the equity in your home, you may qualify for a sizable amount of credit, available for use when and how you please, at an interest rate that is relatively low. Furthermore, under the tax law--depending on your specific situation--you may be allowed to deduct the interest because the debt is secured by your home. If you are in the market for credit, a home equity plan may be right for you. Or perhaps another form of credit would be better. Before making a decision, you should weigh carefully the costs of a home equity line against the benefits. Shop for the credit terms that best meet your borrowing needs without posing undue financial risk. And remember, failure to repay the amounts you've borrowed, plus interest, could mean the loss of your home. What is a home equity line? What should you look for? How will you repay your home equity plan? Lines of credit vs. traditional second mortgage loans Disclosures from lenders What is a home equity line of credit? A home equity line of credit is a form of revolving credit in which your home serves as collateral. Because the home is likely to be a consumer's largest asset, many homeowners use their credit lines only for major items such as education, home improvements, or medical bills and not for day-to-day expenses. With a home equity line, you will be approved for a specific amount of credit--your credit limit , the maximum amount you may borrow at any one time under the plan. Many lenders set the credit limit on a home equity line by taking a percentage (say, 75 percent) of the home's appraised value and subtracting from that the balance owed on the existing mortgage. For example, [D] In determining your actual credit limit, the lender will also consider your ability to repay, by looking at your income, debts, and other financial obligations as well as your credit history. Many home equity plans set a fixed period during which you can borrow money, such as 10 years. At the end of this "draw period," you may be allowed to renew the credit line. If your plan does not allow renewals, you will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period (the "repayment period"), for example, 10 years. Once approved for a home equity line of credit, you will most likely be able to borrow up to your credit limit whenever you want. Typically, you will use special checks to draw on your line. Under some plans, borrowers can use a credit card or other means to draw on the line. There may be limitations on how you use the line. Some plans may require you to borrow a minimum amount each time you draw on the line (for example, $300) and to keep a minimum amount outstanding. Some plans may also require that you take an initial advance when the line is set up. What should you look for when shopping for a plan? If you decide to apply for a home equity line of credit, look for the plan that best meets your particular needs. Read the credit agreement carefully, and examine the terms and conditions of various plans, including the annual percentage rate (APR) and the costs of establishing the plan. The APR for a home equity line is based on the interest rate alone and will not reflect the closing costs and other fees and charges, so you'll need to compare these costs, as well as the APRs, among lenders. Interest rate charges and related plan features Home equity lines of credit typically involve variable rather than fixed interest rates. The variable rate must be based on a publicly available index (such as the prime rate published in some major daily newspapers or a U.S. Treasury bill rate); the interest rate for borrowing under the home equity line changes, mirroring fluctuations in the value of the index. Most lenders cite the interest rate you will pay as the value of the index at a particular time plus a " margin ," such as 2 percentage points. Because the cost of borrowing is tied directly to the value of the index, it is important to find out which index is used, how often the value of the index changes, and how high it has risen in the past as well as the amount of the margin. Lenders sometimes offer a temporarily discounted interest rate for home equitylines--a rate that is unusually low and may last for only an introductory period, such as 6 months. Variable-rate plans secured by a dwelling must, by law, have a ceiling (or cap ) on how much your interest rate may increase over the life of the plan. Some variable-rate plans limit how much your payment may increase and how low your interest rate may fall if interest rates drop. Some lenders allow you to convert from a variable interest rate to a fixed rate during the life of the plan, or to convert all or a portion of your line to a fixed-term installment loan. Plans generally permit the lender to freeze or reduce your credit line under certain circumstances. For example, some variable-rate plans may not allow you to draw additional funds during a period in which the interest rate reaches the cap. Costs of establishing and maintaining a home equity line Many of the costs of setting up a home equity line of credit are similar to those you pay when you buy a home. For example, A fee for a property appraisal to estimate the value of your home An application fee , which may not be refunded if you are turned down for credit Up-front charges, such as one or more points (one point equals 1 percent of the credit limit) Closing costs, including fees for attorneys, title search, and mortgage preparation and filing; property and title insurance; and taxes. In addition, you may be subject to certain fees during the plan period, such as annual membership or maintenance fees and a transaction fee every time you draw on the credit line. You could find yourself paying hundreds of dollars to establish the plan. If you were to draw only a small amount against your credit line, those initial charges would substantially increase the cost of the funds borrowed. On the other hand, because the lender's risk is lower than for other forms of credit, as your home serves as collateral, annual percentage rates for home equity lines are generally lower than rates for other types of credit. The interest you save could offset the costs of establishing and maintaining the line. Moreover, some lenders waive some or all of the closing costs. How will you repay your home equity plan? Before entering into a plan, consider how you will pay back the money you borrow. Some plans set minimum payments that cover a portion of the principal (the amount you borrow) plus accrued interest. But (unlike with the typical installment loan) the portion that goes toward principal may not be enough to repay the principal by the end of the term. Other plans may allow payment of interest alone during the life of the plan, which means that you pay nothing toward the principal. If you borrow $10,000, you will owe that amount when the plan ends. Regardless of the minimum required payment, you may choose to pay more, and many lenders offer a choice of payment options. Many consumers choose to pay down the principal regularly as they do with other loans. For example, if you use your line to buy a boat, you may want to pay it off as you would a typical boat loan. Whatever your payment arrangements during the life of the plan--whether youpay some, a little, or none of the principal amount of the loan--when the plan ends you may have to pay the entire balance owed, all at once. You must be prepared to make this " balloon payment " by refinancing it with the lender, by obtaining a loan from another lender, or by some other means. If you are unable to make the balloon payment, you could lose your home. If your plan has a variable interest rate, your monthly payments may change. Assume, for example, that you borrow $10,000 under a plan that calls for interest-only payments. At a 10 percent interest rate, your monthly payments would be $83. If the rate rises over time to 15 percent, your monthly payments will increase to $125. Similarly, if you are making payments that cover interest plus some portion of the principal, your monthly payments may increase, unless your agreement calls for keeping payments the same throughout the plan period. If you sell your home, you will probably be required to pay off your homeequity line in full immediately. If you are likely to sell your home in the near future, consider whether it makes sense to pay the up-front costs of setting up a line of credit. Also keep in mind that renting your home may be prohibited under the terms of your agreement. Lines of credit vs. traditional second mortgage loans If you are thinking about a home equity line of credit, you might also want to consider a traditional second mortgage loan. A second mortgage provides you with a fixed amount of money repayable over a fixed period. In most cases the payment schedule calls for equal payments that will pay off the entire loan within the loan period. You might consider a second mortgage instead of a home equity line if, for example, you need a set amount for a specific purpose, such as an addition to your home. In deciding which type of loan best suits your needs, consider the costs under the two alternatives. Look at both the APR and other charges. Do not, however, simply compare the APRs, because the APRs on the two types of loans are figured differently: The APR for a traditional second mortgage loan takes into account the interest rate charged plus points and other finance charges. The APR for a home equity line of credit is based on the periodic interest rate alone. It does not include points or other charges. Disclosures from lenders The federal Truth in Lending Act requires lenders to disclose the important terms and costs of their home equity plans, including the APR, miscellaneous charges, the payment terms, and information about any variable-rate feature. And in general, neither the lender nor anyone else may charge a fee until after you have received this information. You usually get these disclosures when you receive an application form, and you will get additional disclosures before the plan is opened. If any term (other than a variable-rate feature) changes before the plan is opened, the lender must return all fees if you decide not to enter into the plan because of the change. When you open a home equity line, the transaction puts your home at risk. If the home involved is your principal dwelling, the Truth in Lending Act gives you 3 days from the day the account was opened to cancel the credit line. This right allows you to change your mind for any reason. You simply inform the lender in writing within the 3-day period. The lender must then cancel its security interest in your home and return all fees--including any application and appraisal fees--paid to open the account. The material on this site is adapted from the brochure "When Your Home Is on the Line." Single or multiple copies of the brochure are available without charge. Order the brochure by telephone, mail, or fax . Order on line . Glossary | Where to go for help | Checklist Home | Consumer information | Publications | Brochures Accessibility To comment on this site, please fill out our feedback form. Last update: July 25, 2001

Florida Real Estate

Real Property for Auction JANUARY 2006 AUCTIONS CORNER LOT - ONLINE AUCTION 124 Sterling Street, Brooklyn, New York 11225 On-line Auction Starts: Monday, January 9, 2006 at 8:00 a.m. EST On-line Auction Ends: Wednesday, January 11, 2006 at 3:00 p.m. EST Total Site Area: 2,575 ± sq. ft. Description: 25 feet x 103 feet corner lot at the intersection of Sterling St. and Bedford Avenue in Brooklyn, NY. For complete details on this property click on the photo or CLICK HERE SINGLE FAMILY HOME 708 Kuhlman Road, Houston, Texas 77024 Auction: Tuesday, January 17, 2006 Auction Starts: 12:00 noon Total Living Space: 6,291 ± sq. ft. Description: Two level home with 5 bedrooms, 5 baths, 3 fireplaces, and a 3-car garage. Separate unfinished guest house with kitchen, family room, 3 bedrooms, and 2 baths. For complete details on this property click on the photo or CLICK HERE VACANT LAND - ONLINE AUCTION Ambrosia Street, Padre Island, No 3, Lot 4, Blk 71, Corpus Christi, Teaxas 78418 On-line Auction Starts: Tuesday, January 17, 2006 at 8:00 a.m. EST On-line Auction Ends: Thursday, January 19, 2006 at 3:00 p.m. EST Total Site Area: 12,379 ± sq. ft. Description: Located on Padre Island near the Gulf of Mexico. For complete details on this property click on the photo or CLICK HERE CONDOMINIUM 14514 Cabana East, Unit 306, Padre Island, Corpus Christi, Texas 78418 Auction: Friday, January 20, 2006 Auction Starts: 12:00 noon Total Living Space: 1,303 ± sq. ft. Description: Two level condominium with 3 bedrooms, 2 baths, and rooftop deck. For complete details on this property click on the photo or CLICK HERE SINGLE FAMILY HOME ON 11.6 ACRES AND 7.158 ACRES OF LAND 105 L Anderson Road, Auburn, Kentucky 42206 Auction: Tuesday, January 24, 2006 Auction Starts: 12:00 noon Total Living Space: (Revised 12/20/05) 2,141 ± sq. ft. Description: Log home with 3 bedrooms, 1.25 baths, 2 fireplaces, and a one-car garage on 11.6 arces. Adjoining tract of 7.158 acres of land. Properties will be sold separately, then combined for Buyers Option. For complete details on this property click on the photo or CLICK HERE SINGLE FAMILY HOME 1311 S. Monte Cristo Way, Las Vegas, Nevada 89117 Auction: Friday, January 27, 2006 Auction Starts: 12:00 noon Total Living Space: 3,583 ± sq. ft. Description: Two level home with 4 bedrooms, 3.5 baths, and 3-car garage For complete details on this property click on the photo or CLICK HERE SINGLE FAMILY HOME 736 South 153rd Circle, Omaha, Nebraska 68154 Auction: Tuesday, January 31, 2006 Auction Starts: 12:00 noon Total Living Space: 2,359 ± sq. ft. Description: Two level home with 5 bedrooms, 2.5 baths, fireplace, and a 2-car garage. For complete details on this property click on the photo or CLICK HERE FEBRUARY 2006 AUCTIONS SINGLE FAMILY HOME 6408 Jersey Lane, Arlington, Texas 76018 Auction: Wednesday, February 1, 2006 Auction Starts: 12:00 noon Total Living Space: 4,047 ± sq. ft. Description: Two level home with 6 bedrooms, 2.5 baths, and a 2-car garage. For complete details on this property click on the photo or CLICK HERE SINGLE FAMILY HOME 6611 Wagner Way, San Antonio, Texas 78256 Auction: Thursday, February 2, 2006 Auction Starts: 12:00 noon Total Living Space: 4,851 ± sq. ft. Description: Three level home with 4 bedrooms, 4.5 baths, 2 fireplaces, inground pool, and a 2-car garage. For complete details on this property click on the photo or CLICK HERE COMING SOON SINGLE FAMILY HOME 477 Lee Street, Strasburg, Virginia Auction: Coming soon Total Living Space: 2,016 ± sq. ft. Description: 3 bedrooms, 1.5 baths Further details on this property coming soon... 0.31 ACRE OF LAND 65 Circle Road, Staten Island, New York 10304 Auction: Coming soon Total Site Area: 0.31 ± Acre (13,361 ± sq. ft.) Description: Located in Todt Hill area of Staten Island. Adjacent to property being auctioned on Benedict Road. Further details on this property coming soon... 1.15 ACRES OF LAND 51 Benedict Road, Staten Island, New York 10304 Auction: Coming soon Total Site Area: 1.15 ± Acres (45,348 ± sq. ft.) Description: Located in Todt Hill area of Staten Island. Adjacent to property being auctioned on Circle Road. Further details on this property coming soon... SINGLE FAMILY HOME 2670 Moores Mill Road, Spencer, Virginia Auction: Coming soon Total Living Space: 1,571 ± sq. ft. Description: 3 bedrooms, 2 full baths. Located on 9 ± acres on the North Mayo River with scenic views. Further details on this property coming soon... SINGLE FAMILY HOME Located in La Habra Heights, California Auction: Coming soon Total Living Space: 2,253 ± sq. ft. Description: One level home with 4 bedrooms, 2 baths, 2-car garage and swimming pool Further details on this property coming soon... SINGLE FAMILY HOME Located in Rio Rico, Arizona Auction: Coming soon Total Living Space: 1,425 ± sq. ft. Description: One level home with 3 bedrooms, 2 baths, and 2-car garage Further details on this property coming soon... SINGLE FAMILY HOME Located in Longwood, Florida Auction: Coming soon Total Living Space: 2,721 ± sq. ft. Description: Two level home with 4 bedrooms, 3 baths, fireplace, 2-car garage, and inground pool in screened enclosure. Further details on this property coming soon... SINGLE FAMILY HOME Located in Hollywood, Florida Auction: Coming soon Total Living Space: 4,912 ± sq. ft. Description: Two level home with 6 bedrooms, 5 baths, 2-car garage, inground pool and spa, seawall and wood dock on ocean access canal. Further details on this property coming soon... SINGLE FAMILY HOME Located in Heathrow, Florida Auction: Coming soon Total Living Space: 3,157 ± sq. ft. Description: 1.5 level home with 4 bedrooms, 3 baths, bonus room, 3-car garage, and inground pool in screened enclosure. Further details on this property coming soon... SINGLE FAMILY HOME Located in Miami, Florida Auction: Coming soon Total Living Space: 4,185 ± sq. ft. Description: One level home with 6 bedrooms, 4.5 baths, 2-car garage, guest house, and inground pool. Further details on this property coming soon... SINGLE FAMILY HOME Located in Homestead, Florida Auction: Coming soon Total Living Space: 2,312 ± sq. ft. Description: One level home with 4 bedrooms, 4 baths, and guest house on 2 ± acres. Further details on this property coming soon... SINGLE FAMILY HOME Located in Homestead, Florida Auction: Coming soon Total Living Space: 1,930 ± sq. ft. Description: Two level home with 3 bedrooms, 2 baths, kitchen and living area on both levels, one-car garage and carport, and 2 horse barns on 2.5 ± acres. Further details on this property coming soon... SINGLE FAMILY HOME Located in Winston-Salem, North Carolina Auction: Coming soon Total Living Space: 1,338 ± sq. ft. Description: One level home with 2 bedrooms, 1 bath, carport, unfinished basement, and small barn on 2.9 ± acres. Further details on this property coming soon... COMMERCIAL VACANT LAND 3514 Boudinot Avenue, Cincinnati, Ohio 45211 Auction: Coming soon Total Site Area: 7,012 ± sq. ft. Description: 55 ft. x 127.50 ft. commercial lot zoned B-4 General Business. The site is located along the east side of Boudinot Avenue just south of the Harrison Avenue intersection, and sits between a commercial building and a multi-family dwelling. Further details on this property coming soon... AUCTIONS ARE OPEN TO THE PUBLIC. YOU DO NOT NEED A REAL ESTATE BROKER TO BID. If you would like to receive an e-mail notification when the auction date has been scheduled for these coming soon properties, please click here to register online for the free e-mail notification service .

Real Estate Prices

MONEY Magazine: Your Home 2005: The 100 Major Markets - Jun. 1, 2005 Web CNN/Money Buying & Selling Investment Property Home Improvement Million $ Life Financing Best Places SAVE | EMAIL | PRINT | SUBSCRIBE TO MONEY | The 100 Major Markets While currently hot real estate markets may cool, don't look for many outright losers just yet. June 1, 2005: 7:01 PM EDT More real estate • Pros and cons of interest-only mortgages • How much house can you afford? NEW YORK (MONEY Magazine) - Home prices across the country will likely keep rising over the next year. While many hot markets on both coasts could see a dramatic slowdown in their growth rates, the forecasters at housing research firm Case Shiller Weiss aren't predicting outright losers anywhere. Nationally, home values climbed 14 percent last year, or nearly double the 8 percent of 2003, when the bubble talk began in earnest. Prices are up 20 percent or more in some coastal cities, putting homes out of reach for many. In Los Angeles, for example, just 5 percent of homes sell at prices affordable to a median-income local family. Don't panic just yet, though. Any pop is unlikely to be nearly as severe as what can happen in the stock market. Local markets can drop 10 to 20 percent, but that's about as bad as it usually gets. And a crash is merely a paper loss as long as you don't need to move. Meanwhile, you get a roof over your head and, with a little luck, nice neighbors and good public schools too. Metro area Median home price 5yr change in avg home price Growth forecast to June 2006 United States $190,000 65.1% 7.1% New York/Northern New Jersey/Long Island/Connecticut    New York City $435,000 91.2% 12.6%    Nassau/Suffolk, N.Y. $440,000 92.1% 11.6%    Newark $330,000 79.0% 11.4%    Bergen/Passaic, N.J. $390,000 81.9% 11.3%    Middlesex/Somerset/Hunterdon, N.J. $318,000 87.4% 11.1%    Monmouth/Ocean, N.J. $328,000 97.0% 11.3%    Jersey City $300,000 114.2% N.A.    New Haven/Bridgeport/Stamford/Waterbury/Danbury $335,000 69.7% 9.0%    Trenton $230,000 83.4% 11.0% Los Angeles/Riverside/Orange County    Los Angeles/Long Beach $442,000 122.3% 5.0%    Riverside/San Bernardino, Calif. $329,000 137.3% 4.5%    Orange County, Calif. $610,000 126.3% 6.8%    Ventura, Calif. $550,000 122.6% 5.8% Chicago $254,000 49.6% 8.6% Washington/Baltimore    Washington $385,000 107.4% 13.9%    Baltimore $140,000 85.3% 14.2% San Francisco/Oakland/San Jose    Oakland $535,000 96.3% 13.3%    San Francisco $750,000 67.7% 13.6%    San Jose $619,000 63.0% 13.9%    Vallejo/Fairfield/Napa, Calif. $449,000 125.1% 13.8%    Santa Rosa, Calif. $500,000 107.8% 13.2%    Santa Cruz/Watsonville, Calif. $599,000 86.2% 13.0% Boston/Worcester/Lawrence/Lowell/Brockton $339,000 73.6% 8.0% Dallas/Fort Worth    Dallas $137,000 23.1% N.A.    Fort Worth/Arlington N.A. 23.5% N.A. Philadelphia/Wilmington/Atlantic City    Philadelphia $180,000 71.0% 11.7%    Atlantic/Cape May, N.J. $249,000 112.6% 9.4% Detroit/Ann Arbor/Flint    Detroit $160,000 24.3% 4.3%    Ann Arbor $225,000 28.1% 1.2% Houston $136,000 25.2% N.A. Atlanta $188,000 25.2% 6.4% Miami/Fort Lauderdale    Miami $240,000 106.1% 15.3%    Fort Lauderdale $257,000 105.8% 16.3% Phoenix/Mesa $190,000 53.1% 17.7% Seattle/Tacoma/Bremerton    Seattle/Bellevue/Everett $315,000 38.1% 9.1%    Tacoma, Wash. $212,000 36.9% 4.2% Minneapolis/St. Paul $225,000 63.2% 7.4% Cleveland/Akron    Cleveland/Lorain/Elyria $153,000 20.0% 4.3%    Akron $148,000 17.5% 0.7% San Diego $554,000 138.3% 5.9% St. Louis $129,000 38.1% N.A. Tampa/St. Petersburg/Clearwater $172,000 70.8% 14.7% Pittsburgh $108,000 31.1% N.A. Denver $250,000 33.3% 6.0% Cincinnati/Hamilton    Cincinnati $172,000 18.9% 4.0%    Hamilton/Middletown, Ohio $182,000 20.5% 3.2% Portland, Ore./Vancouver $226,000 36.6% 9.8% Sacramento/Yolo    Sacramento $376,000 131.1% 17.1%    Yolo, Calif. $379,000 140.9% 17.4% Kansas City, Mo. $149,000 30.8% N.A. Orlando $195,000 60.6% 14.3% Indianapolis $113,000 18.8% N.A. San Antonio $123,000 24.8% N.A. Norfolk/Virginia Beach/Newport News $168,000 60.9% N.A. Las Vegas $285,000 107.0% N.A. Columbus, Ohio $172,000 22.7% 3.7% Milwaukee/Waukesha $199,000 40.5% N.A. Charlotte/Gastonia/Rock Hill, N.C. N.A. 19.1% N.A. Salt Lake City/Ogden $155,000 -0.2% 0.0% Austin/San Marcos $151,000 24.9% N.A. Nashville $139,000 19.3% 6.4% Providence/Warwick/Pawtucket $257,000 111.7% 17.7% Raleigh/Durham $186,000 18.9% N.A. Hartford $228,000 54.1% 8.9% Buffalo/Niagara Falls $95,000 27.00% N.A. Memphis $126,000 11.5% 3.2% West Palm Beach/Boca Raton, Fla. $282,000 98.0% 21.0% Jacksonville, Fla. $154,000 57.4% N.A. Dayton/Springfield, Ohio $135,000 15.1% 0.3% Fresno $243,000 129.1% N.A. Tucson $179,000 46.6% 8.5% Albuquerque $146,000 13.3% 1.4% Knoxville $121,000 27.3% 7.0% Bakersfield, Calif. $195,000 114.1% N.A. Toledo $124,000 19.7% 0.6% Youngstown/Warren, Ohio $90,000 15.0% 1.8% Springfield, Mass. $182,000 64.1% 10.5% Sarasota/Bradenton $229,000 83.5% 17.0% Stockton/Lodi, Calif. $370,000 126.9% 21.8% Daytona Beach, Fla. $153,000 79.9% 22.0% Lakeland/Winter Haven, Fla. $133,000 46.5% 9.8% Johnson City/Kingsport/Bristol (Tenn./Va.) $90,000 16.2% 4.8% Lansing/East Lansing $134,000 33.0% 2.9% Modesto, Calif. $305,000 140.5% 15.2% Fort Myers/Cape Coral, Fla. $124,000 92.1% 15.1% Canton/Massillon, Ohio $129,000 16.7% 2.2% Salinas, Calif. $526,000 136.2% N.A. Santa Barbara/Santa Maria/Lompoc $445,000 147.9% N.A. Visalia/Tulare/Porterville, Calif. $190,000 86.1% N.A. Fort Pierce/Port St. Lucie, Fla. $280,000 99.8% 13.7% New London/Norwich, Conn. $226,000 71.9% 6.3% Naples, Fla. $300,000 109.3% 22.4% San Luis Obispo/Atascadero/Paso Robles, Calif. $475,000 137.7% 11.3% Merced, Calif. $270,000 126.2% 16.6% Clarksville/Hopkinsville (Tenn./Ky.) $95,000 15.3% 4.2% Chico/Paradise, Calif. $250,000 119.6% 15.2% Burlington, Vt. $226,000 62.7% 7.8% Barnstable/Yarmouth, Mass. $369,000 115.7% 5.6% Punta Gorda, Fla. $154,000 98.1% 17.5% Pittsfield, Mass. $165,000 57.8% 11.1% NOTES: Data as of 2004 unless otherwise noted. N.A.: Not applicable or not available. SOURCES: Fiserv CSW, U.S. Census Bureau, U.S. Department of Housing and Development, National Association of Realtors. «top» The Hot List Most profitable renovations How risky is your 401(k)? Big new tax credits for hybrid cars More Real Estate How to buy and build on rural land Most overvalued housing markets When booms go bust... contact us | magazine customer service | site map | glossary | RSS | press room OTHER NEWS: CNN | SI | Fortune | Business2.0 = Money subscribers = Premium content -- * - Time reflects local markets trading time. † - Intraday data is at least 15-minutes delayed. Disclaimer © 2005 Cable News Network LP, LLLP. A Time Warner Company ALL RIGHTS RESERVED. Terms under which this service is provided to you. privacy policy Reprints of site stories are available. Top Stories Most overvalued housing markets Risks to the economy in 2006 Which was the worst ad of all in 2005? After the ride, a rest Hilton brands reunite after 40 years YOUR E-MAIL ALERTS Real Estate or Create your own Manage alerts | What is this?

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RISMedia - Residential Real Estate's Largest Independent News & Information Service - Immediate access to industry news,top real estate professionals,and the nation's most respected product and service firms real estate referral,real estate training,real estate education,real estate news articles information consulting expertise real estate professionals reference resources industry worldwide database national regional state real estate referral,real estate training,real estate education,real estate news articles information consulting expertise real estate professionals articles information consulting expertise real estate professionals reference resources industry worldwide database national regional state real estate referral,real estate training,real estate education,real estate news reference resources industry worldwide database national regional state real estate referral,real estate training,real estate education,real estate news Today's News Products/Services Article Search Events Feedback Login Real Estate Magazine Realtors/Services Power Broker Report Real Estate Leadership Power Broker Event Realestate Magazine Feedback Daily News Feedback Advertising Opportunities Feedback Other Feedback Today's Real Estate News Get our free News Feed Existing-Home Sales Trend Lower in November Sales eased 1.7% to a seasonally adjusted annual rate of 6.97 million units in November from a pace of 7.09 million in October More. Inverted Yield Curve Influences Mortgage Rates Fixed mortgage rates fell slightly this week, as long-term interest rates declined following a large decrease in new home sales More. NAR Provides Access to Updated Study of Emerging Legal Issues in Real Estate Study tracks historical data regarding more than 90 different legal liability issues faced by real estate professionals More. Pitching Property in the Blogosphere Real estate blogs rising in popularity at a time when the Internet is becoming more important in home-buying process More. Todays HOME Spun Wisdom New Years resolution: Adopting a healthy diet More. November Illinois Home Sales Nearly Even with Last Year Median Price at $202,000 Total home sales down less than 200 from the prior year More. 2005 California Housing Market Eclipses Previous Records Sales of detached, existing single-family homes are expected to reach 635,000 this year More. Housing Costs Up in Western Massachusetts Prices outside of the city are up much faster this year than in the Boston area More. NAR PULSE: NAR Welcomes Federal Guidelines on Specialty Mortgages The NATIONAL ASSOCIATION OF REALTORS on Dec. 20 welcomed proposed guidelines from the federal financial regulatory agencies on specialty mortgage products that allow consumers to defer repayment of the home mortgage principal and interest. More. NAR PULSE: Terrorism Insurance Readied for President The U.S. House and Senate have reached agreement on extension of federal terrorism re-insurance for an additional two years, setting the stage for signing by President George W. Bush. The legislation increases the point at which federal backstop assistance kicks in from $5 million this year to $50 million in 2006 and $100 million in 2007, and creates the President's Working Group on Financial Markets (which includes the Treasury secretary and the Chairs of the Fed and SEC). NAR supported extension to ensure the availability and affordability of terrorism coverage, vital to the financing of commercial properties. More. NAR PULSE: New Resort Certification to Serve Growing Second-Home and Resort Market To better serve the growing second-home and resort real estate sector, a new certification for REALTORS called the Resort and Second-Home Property Specialist (RSPS) will be offered by the NATIONAL ASSOCIATION OF REALTORS. The new certification program was announced at the 2005 NAR Conference & Expo in San Francisco last October. More. Sedgwick CMS Holdings Agrees to Acquisition by Fidelity National Financial FNF will acquire company for $635 million More. RE/MAX Moves to No. 8 in Entrepreneur Franchise 500 Study Company moves up in ranking More. W.C. & A.N. Miller to Help Build a Town Town of Haymount will be new venture for Miller More. Millionaires Bank on Orange County, Calif., Homes At a time when half of all county homes sell for more than $600,000, one out of six crosses into seven-figure territory More. Todays HOME Spun Wisdom Looking for a good quote to add to your New Years toast? Here are some thoughts on ringing in the New Year from some of historys most notable quotable. More. Online Marketing: New Years Resolutions for Your Web Site Commentary by Israel Rothman More. Sharp Increase in Average Time Needed to Sell a Home: Survey 75% of respondents say homes in U.S. now taking more than 30 days to sell, up from 39% in second quarter; new sales data suggests more balanced market emerging More. Floridas Lake Worth Favors Industrial Park over Building Affordable Townhomes Leaders want seven-acre mobile home park to become part of growing industrial area More. Top Mistakes of Home Buyers and Sellers in 2005 Mistakes made in 2005 may help those looking to buy or sell in 2006 More. Home Buyers Put Faith in Concrete Recent hurricanes, higher energy costs cause for more concrete structures More. California Median Home Cost Up 16.2% But sales are down 11.2% compared with last year More. Training & Business Development: Final Four Days for $125,000 Deadline for Real Estate Apprentice is approaching fast More. Todays HOME Spun Wisdom For 2006, make one resolution as a couple. Here are some guidelines. More. State Home Sales Slide For the first time in 47 months, the median price of a home in two Santa Barbara County, California markets declined from its prior annual level More. Wells Fargo Home Mortgage, Author Launch the Great American Homeowner Challenge New Year's Eve Times Square 2006 celebration to kick-off campaign to inspire long-term financial success through homeownership More. List of Real Estate Training Courses for Real Estate Designations Updated Prominent real estate designations and certifications that are managed by an equally long list of real estate associations, institutes, councils and societies are now available for review in one spot More. MLSSoftware.com, RealBird Partner to Provide Map-Based Searching Services MLSSoftware to resell a branded version of RealBirds service to its clients More. Training & Business Development: The Magnificent 12 Four more industry leaders now in official judges lineup for Real Estate Apprentice More. Training & Business Development: Profiles in CourageThe Entrepreneur Agent The short cut to fearlessness More. Training & Business Development: Becoming 100% Invested in the Present Making the customer feel as though they are the only one is key More. Real Estate Continues as Prime Investment for 2006 Second consecutive year that industry has been one of the top investment choices in the survey More. Action Against Fraud Urged Jury calls for new $2 deed-filing fee to fund a new real-estate fraud prosecution unit More. Houston Home Sales Near Record Single-family home sales increased by 8.7% to 4,735 in November, up from last year's 4,357 More. Number of Homes for Sale Hits Nine-Year High in Orlando However, existing-home sales through November remained on pace to set a 13th consecutive annual record More. Todays HOME Spun Wisdom Hosting a New Years party? Here are some resolutions to think about to help you enjoy your own bash. More. Nations Strong Housing Market Seen Simmering Down in 2006 Economists: production will ease back next year to 2004s historically healthy levels More. Bankrate: Mortgage Rates in a Holiday Holding Pattern Average 30-year fixed rate mortgage dipped from 6.34 percent to 6.33 percent More. Most Homeowners Oppose Proposal to Replace Home Mortgage Interest Deduction Presidents tax reform panel would eliminate other consumer deductions More. ABN AMRO Mortgage Ranks Highest Among Primary Mortgage Lenders Highly satisfied customers refer their loan originator to others more than twice as often More. Todays HOME Spun Wisdom Regifting and exchanging 101some tips on the dos and donts of regifting More. Builders Take Steps to Curb Homes Sales Backlog of units becoming a problem for some companies More. Foreclosure.com Adds Content That Helps Subscribers Make Smart Property Decisions State-specific Foreclosure Laws and How to Buy Foreclosures offer helpful tips More. Weichert, Realtors Expands with Four New Franchises in New York and Massachusetts Company now has 31 opened affiliated offices and 11 company-owned offices in New York More. Prudential California Realty Launches Architectural Collection Division 15-year architecture and design expert to spearhead new division More. NAR PULSE: Historically Strong Home Sales Expected in 2006 The housing market for 2005 is headed for a fifth consecutive annual record, and sales activity in 2006 is expected to be the second best year in history. For more information, click here . More. NAR PULSE: NAR Launches RESPA Compliance Tools as Part of Awareness Campaign The NATIONAL ASSOCIATION OF REALTORS has launched four new tools to help real estate professionals better understand and comply with the requirements of the Real Estate Settlement Procedures Act (RESPA) as part of NARs RESPA Awareness Campaign. For more information, click here . More. NAR PULSE: New Resort Certification to Serve Growing Second-Home and Resort Market To better serve the growing second-home and resort real estate sector, a new certification for REALTORS called the Resort and Second-Home Property Specialist (RSPS) will be offered by the NATIONAL ASSOCIATION OF REALTORS. The new certification program was announced at the 2005 NAR Conference & Expo in San Francisco last October. For more information, click here . More. Wealthy Americans Remain Confident Home Values Will Increase PNC survey finds fewer than one in 10 expect decline in value of their primary homes More. Housing Market Strengthens in November Record year for single-family home construction expected More. -- Current Issue Previous Issue Past Issues Reprints Realtor Solutions CURRENT ISSUE April, 2005 Past Issues -- Daily News Email Submit your email address to receive a daily news email from rismedia.com SITE SPONSORS Today's Profile Barbara Reynolds A Smooth Transition Poll Has your market become a buyer's market? Yes No Don't know Results Polls

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