Beyond The Headlines

Los Angeles Times
Don’t become a crime victim when you show your home to potential buyers safety should always be a top concern for both real estate agents and home sellers. While holding an open house and allowing potential home buyers to tour the property is an effective means of selling a home, home sellers should be aware of the risks.

MAKING SENSE OF THE STORY

• While most criminals will seek small items and anything they can fit into their pockets, sometimes these “buyers” are actually scoping the home for a future burglary.  According to a safety expert who has worked with the NATIONAL ASSOCIATION OF REALTORS® and other groups, first and foremost, people should trust their instincts, so if someone or something is making one uncomfortable, be extra alert and extremely careful.

• If a potential buyer or unknown agent arrives at the house unexpectedly, the homeowner should tell him to call their agent to schedule an appointment.

• Before allowing anyone to enter the house, all lights should be turned on and all blinds, shades, and curtains opened. Homes are safer for showing when someone outside can see inside.

• In advance of an open house, homeowners should remove all valuables, including jewelry, artwork, and electronic equipment.

• Additionally, money, mail, bank statements, credit cards and keys should never be kept lying around, or even in a drawer with easy access.

• Prescription drugs should be kept in locked cabinets, to prevent anyone from stealing them or using the information on the label.

• Professional burglars often linger in rooms, looking for items they can dispose of quickly. They also search for ways to get in and out, scouting possible escape routes and checking for security devices. Couples up to no good often split up so one can check out the house and its belongings, while the other keeps the agent and/or seller occupied.

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http://lat.ms/hoOwlg

In Other News…
Reuters Home buyers try to beat “jumbo” loan squeeze Beginning Oct. 1, the government will dial back on the size of mortgages it guarantees in highcost areas like San Francisco New York, and Washington.

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http://reut.rs/gqjB4i

Bloomberg
Home vacancies fall in first quarter as foreclosures stall The U.S. home-vacancy rate, a measure of the share of properties empty and for sale, fell to 2.6 percent in the first quarter as foreclosures slowed amid a lender backlog in processing paperwork.

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http://bloom.bg/eQGTyF

MarketWatch
Mortgage payoff is a different investment In a world in which debt is a four-letter word, paying off the home mortgage could be a wise move for many people, providing they take the time to do the math or find a financial adviser who can help.

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http://bit.ly/fEgUCN

Los Angeles Times
FHA mortgages may still beat loans available from private-sector rivals Although it has raised fees, the FHA continues to offer much higher and more flexible maximum debt-to-income ratios, far more generous underwriting, and lower down payments than conventional lenders.

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http://lat.ms/eJXpF

The New York Times
Fallout from a poor credit score If you want to see how quickly you can ruin a great credit score, just skip a mortgage payment.

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http://nyti.ms/jBLGsX

The Wall Street Journal
Buyers’ market? Stressed sellers say not so fast Falling home prices should give aspiring homeowners the upper hand this spring, but in a growing number of locations, it doesn’t feel like a buyer’s market.

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http://on.wsj.com/erBR6a

The New York Times
Real estate remains in distress as U.S. home prices fall again Housing prices slid back in February to their lowest level of the downturn, fresh proof — as if any were needed — that real estate remains one of the most troubled sectors of the economy.

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http://nyti.ms/m7zWYq

Washington Post
Pending sales of existing homes in U.S. rose 5.1 percent in March The number of Americans signing contracts to buy previously owned homes rose more than forecast in March, a sign the industry that triggered the recession may begin to stabilize.

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http://bit.ly/l7vlHy

What you should know about the market

• Some home buyers may opt for a condo over a single-family home for a number of reasons. A condominium can provide a less-expensive entry into the housing market, and is a low-maintenance downsizing option for seniors. However, misconceptions about condominium ownership abound, which can often keep potential buyers from considering them as an option.

• Many home buyers view condo fees as an additional expense, compared with owning a single-family residence. However, it’s important to look at what’s included in that figure. Typical condo fees generally include a contribution toward the building’s upkeep and maintenance, but also may include heating costs, water, sewer, garbage-collection fees, and even electricity and cable TV, in some cases.

• Even well-managed condo associations may have what is called a “special assessment,” which is an additional fee that condo owners must pay when the regular condominium fees are insufficient to pay for a major repair. Not unlike living in a single-family home, even homeowners who routinely save money for repairs may encounter major unforeseen expenses, such as foundation or roof repair.