“Is my 18-year-old, unrecorded deed any good?” That was the question asked in a letter I received recently. The reader said she was given the deed to some farmland years ago by a relative on the condition the deed be recorded only after the relative died. But before the relative died a few years later, the letter said, that relative sold the farm to a buyer who paid a down payment, and the relative carried back a 25-year mortgage for the buyer.

ALWAYS RECORD DEEDS TO ESTABLISH PRIORITY. In the event of conflicting claims to a property, the first grantee to record his/her deed usually wins the race to the courthouse. However, there are exceptions, such as when the recorded deed was a gift and the prior unrecorded deed was paid for with consideration and/or the grantee with an unrecorded deed occupied the property, thus giving constructive notice. As shown by that unrecorded, 18-year-old gift deed above, an unrecorded deed delivered conditionally such as “record this after I die” is usually invalid as a substitute for a written will or a revocable living trust. (more…)

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Last year’s Supreme Court ruling validating a Connecticut city’s authority to seize private property for economic development has sparked a backlash. In several states, conservative groups are pushing ballot initiatives to curb local governments’ abilities to exercise not only eminent domain, but also land use and environmental controls. When a divided court ruled in Kelo v. New London that private landowners had no constitutional grounds to resist eminent-domain property seizures, it effectively kicked regulation of government condemnation suits back to the states.

In the South, four states are entertaining ballot proposals that would tighten the eminent-domain process. A Florida initiative requires local governments to sell expropriated property back to the owners if the land isn’t used for the stated purpose, while ballot initiatives in Georgia and South Carolina would crimp government use of eminent domain. In populist-leaning Louisiana, a ballot proposal would prevent local or state government from condemning property and then transferring it to another individual or group, a measure that could affect how the state rebuilds after two devastating hurricanes last year. (more…)

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The entire southeastern United States could be under the Atlantic Ocean if global temperatures get any hotter. As the polar ice caps melt, the oceans will begin to rise, covering land masses that currently are crowded with people. “The Southeast is particularly vulnerable to the wrath of global warming,” says Stephen Smith, executive director of the Southern Alliance for Clean Energy. “Increased global temperatures could destroy many of our coastal communities through sea level rise and increases in hurricane strength and frequency.”

“Southern Alliance for Clean Energy has set the bar for the Southeast by not only educating the community about the effects of global warming and the impact of carbon emissions, but now, through this purchase, going a step further and offsetting all of their carbon dioxide emissions from business operations,” she says. Green Mountain Energy was founded in 1997 and is one of the country’s leading retail providers of cleaner electricity. It offers residential, business, institutional and governmental customers the choice of using electricity generated by wind, solar, water, geothermal, biomass or natural gas. Founded in Vermont, Green Mountain currently is headquartered in Austin, Texas. It began with the philosophy of “Use the power of consumer choice to change the way power is made.” The company built and operates 13 wind and solar plants of its own that are located in several states, and also buys electricity from other sources, including wind, water, solar, biomass, geothermal and natural gas. (more…)

search for : southeastern United States, Atlantic Ocean, Southern Alliance for Clean Energy, global temperature, Green Mountain Energy, wind, solar, water, geothermal, biomass or natural gas, solar plant

Although people still romanticize the concept of the fixer-upper, finding a diamond in the rough and restoring it to its former glory isn’t always a pleasant experience. “It’s not for everyone,” said Van Cura, of Don Van Cura Construction Company Inc. and a member of the National Association of the Remodeling Industry. “I’m not supposed to say that — I’m a remodeler.

A house needing a little work may be a sensible option in areas where affordability is a challenge for home buyers, such as the San Francisco Bay area, where Paul Winans, of Winans Construction Inc. and chairman of the National Association of the Remodeling Industry, is based. In large cities such as Chicago and New York, some homeowners are choosing the cost of remodeling older homes over buying newer homes in suburbia, which come with a longer commute time to the city’s core, he said. Keeping costs down, however, requires a dose of patience in the homeowner’s tool belt. Instead of a quick succession of remodeling projects, those on tighter budgets often spread the work out over several years, Winans said. (more…)

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It’s hard not to ignore the changing real estate market. Last summer, the boom in home sales was still in full swing and all of that talk about a “bubble” didn’t seem to trouble anyone. People, in fact, were still flocking to Florida, Las Vegas and other hot-spots to buy yet-to-be built condominiums in multistory high-rises and paying ridiculous sums for one- or two-bedroom units which they immediately tried to “flip” for a quick profit.

Much media attention has lately been devoted to the “bursting of the real estate bubble” and its potential negative economic impact. Home sales have slowed, values of properties have declined, and mortgage interest rates have risen-and all this, in turn, has led to confusion, fear and apprehension among many sellers and buyers. Consequently, is real estate still a good investment today? (more…)

search for : real estate market, Florida, Las Vegas, condominiums

My wife and I are thinking about listing our $425,000 home for sale with a real estate agency, which charges a $1,995 commission. They will list our home for 30 days. During the 30 days, we can sell the home ourselves or if they sell it, we owe only $1,995. If another broker sells the home during the 30 days, he would write in his sales commission on the offer, subject to our approval. During the 30 days, the listing agency will put a for-sale sign in our yard with an information box with flyers about our home.

According to statistics from the National Association of Realtors, at least half of all home sales involve a listing agent and a buyer’s agent. Most of those sales originate through the local MLS, the most powerful sales tool available to real estate agents. Especially in the current buyer’s market for homes, why cut yourself off from half the potential buyers? They won’t even know your home is for sale if it isn’t shown in the local MLS and on the nationwide www.Realtor.com Web site where many home buyers start their searches. (more…)

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Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 6.63 percent, with an average 0.3 point, for the week ending August 2, 2006, down from last week’s average of 6.72 percent. Last year at this time, the 30-year FRM averaged 5.82 percent. The average for the 15-year FRM this week is 6.27 percent, with an average 0.3 point, down from last week’s average of 6.34 percent. A year ago, the 15-year FRM averaged 5.38 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.27 percent this week, with an average 0.4 point, down from last week when it averaged 6.35 percent. A year ago, the five-year ARM averaged 5.30 percent. One-year Treasury-indexed ARMs averaged 5.69 percent this week, with an average 0.7 point, down from last week when it averaged 5.78 percent. At this time last year, the one-year ARM averaged 4.47 percent. (more…)

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“Model Farm has a good chance of being the most significant site of agricultural history in North Carolina because of its impact on Reconstruction,” said Benjamin Briggs, executive director of Preservation Greensboro. Briggs, a High Point native who recently completed a book about historic sites in the city, gave several talks about the early history of the farm at an open house Thursday. Farmers from around the region could come to the 240-acre Model Farm and learn about using cover crops such as clover to replenish the soil, using registries to improve livestock, and building rat-proof corn cribs.

Much of the Model Farm land has been developed for industrial use. The back of the house looks out at WGHP’s satellite farm, and the front faces a recycling warehouse. But what’s left is an old farmhouse, and Blumer said she’s got several ideas to hide the industrial views and muffle the sounds of trucks rolling by. “If it was up to me, this whole corner would be a wedding garden,” Blumer said. “Who knows what will happen.” She said it will take about a year to restore the home and build an addition that will house a dining room and modern kitchen. After moving from San Jose, she’ll live on site during the work in an apartment over a yet-to-be-built garage.
(more…)

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Closing on a house and looking for the cheapest title insurance? You’re in the right state.At just $439, North Carolina has the lowest average premium in the nation, according to a recent survey by Bankrate.com, a Florida company that tracks consumer finance trends. That compares with the national average of $756. The most expensive state is New York at $1,451.

In most states, title insurance companies and other third parties can close real estate deals and often share in revenue from premiums. That gives them a financial incentive to price premiums higher, said Bryan Rosenberg, a senior vice president with United General Title Insurance, one of the largest title insurers in the country. Because lawyers oversee all real estate transactions in North Carolina, there are fewer disputes over ownership and therefore fewer claims filed. That lowers investigation and payout costs for title insurers and helps further reduce premiums. (more…)

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Written exclusively for single women who think they want to buy a house or condominium, “The Single Woman’s Guide to Real Estate” by Donna Raskin and Susan Hawthorne explains virtually everything prospective home buyers need to know before deciding to proceed. Even men can learn the “insider tactics” of home buying from an experienced real estate brokerage owner and a professional writer.

This “how to” book emphasizes the special considerations single women encounter when deciding (or not) to buy their own home. Possible pitfalls, such as an inadequate cash down payment and not understanding the mortgage process, are tackled by the authors without hesitation. They even share the drawbacks of each type of mortgage and mortgage lender as well as how to overcome those problems. (more…)

search for : The Single Woman’s Guide to Real Estate, Donna Raskin, home buying, real estate brokerage owner, mortgage, mortgage lender