* Appraisal Inflation [Washington Post]
"Have inflated appraisals helped fuel the surge in foreclosures on
credit-strapped borrowers? Are such appraisals at the core of many
mortgage-fraud schemes?"
* Beware of Builders of Bearing Gifts and Pushing Lenders [Washington Post]
"So much of the fun in buying a newly built home comes from being able
to choose the upgrades that tailor it to your tastes. Want steam vents
in the shower? No problem. With a swipe of the pen, they're yours. And
for now, at least, many builders are offering such goodies at no extra
cost."
* How Homeowners, Consumers Can Battle Against Global Warming [Real Estate Journal]
"
Going green is the new black in 2007. Advice abounds on how to
cut your carbon dioxide output and do your part in the battle against global
warming. But how much does a person have to spend to go green--and what kind of
environmental impact would that spending actually have?"
* Minorities Hit Hard by Rising Costs of Subprime Loans [USA Today]
"Charles Davis bought his home on the South Side of Chicago in 2003
using adjustable-rate, high-interest loans and betting an improving
economy would help him handle rising payments ahead. Things didn't go
as planned."
* The Grocery Every Downtown Wants [CoolTown Studios]
"Why is there such a frenzy to score a Trader Joe's
in one's neighborhood? To sum it up with a quote sourced amid the
hysteria of NYC's first Trader Joe's ever last year (pictured above), "It's kind of like the Grateful Dead of supermarkets."
* New Home Sales vs. Starts [Calculated Risk]
"Some people are confused as to why starts are so high (around 1.5
million on a Seasonally Adjusted Annual Rate SAAR) and New Home sales
so low (0.85 million SAAR). They ask: why aren't reported inventories
surging?"
* Condo Sales: Cooper Lewis [DC Home and Condo Prices]
"The Cooper Lewis, located at 1413 P St NW, began delivery in July 2006 [see project profile here]."
* Earthlink Approved to Build Arlington Wireless Network [DC Examiner]
"
Arlington County has approved EarthLink to build out a 26-square-mile Wi-Fi network that will cover the entire county."
* Some Thoughts on the Condo Market [The Ground Floor]
"Here are some thoughts on condos today. There is good and bad news. The
bad news, as has been widely reported, is that there is an overhang of
supply in a lot of places."
* Residents Learn of Big Plans to Grow Merrifield [FCNP]
"For a long time, the Merrifield section of Fairfax County west on Rt.
29 from Falls Church was little more than a nice nursery, a busy Taco
Bell, a big post office, a multiplex movie theatre and a 1950s-style
diner. Lately, a lot of big buildings have been rising up out of the
ground, and this is only the beginning."
* Home Equity Extraction: The Real Cost of 'Free Cash' [Seeking Alpha]
" The update to the Greenspan/Kennedy report (.pdf) on home equity extraction was a real page-turner. Seriously, it was pretty good."
* Foreclosures Surge on Mortgage Woes [CNN/Money]
"Foreclosure filings surged during the first quarter of 2007, as home
price increases slowed or even reversed and borrowers fell behind on
payments once their adjustable rates began resetting at much higher
levels."
Image: Real Estate Journal. Click on Image for larger view.
