AOL Real Estate - Blog http://realestate.aol.com/blog AOL Real Estate - Blog http://realestate.aol.com/blog/media/feedlogo.gif AOL Real Estate - Blog http://realestate.aol.com/blog en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/Bob Vila's 5 'Must Do' Projects Before Summerhttp://realestate.aol.com/blog/2012/05/25/bob-vilas-5-must-do-projects-before-summer/http://realestate.aol.com/blog/2012/05/25/bob-vilas-5-must-do-projects-before-summer/http://realestate.aol.com/blog/2012/05/25/bob-vilas-5-must-do-projects-before-summer/#commentsFiled under: ,

sealing a driveway

May is that in-between month -- that time of year when we adjust to the unpredictable nature of spring and get ready to welcome summer with its longer days, warmer temperatures, and unlimited opportunities for outdoor enjoyment.

Being a month defined by transition, May is an ideal time to take care of basic maintenance inside and outside the house. Better to find out now that you have a faulty air conditioner, roof leak, or deck in need of refinishing than to later disrupt the more pleasurable pursuits of summer.

Here are my five top "must-dos" for the month of May:

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Bob Vila is the home improvement expert widely known as host of TV's "This Old House," "Bob Vila's Home Again" and "Bob Vila." Today, Bob continues his mission to help people upgrade their homes and improve their lives with advice online at BobVila.com. His video-rich site offers a full range of fresh, authoritative content -- practical tips, inspirational ideas, and more than 1,000 videos from Bob Vila television.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

 

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]]>basic home maintenanceBob VilaMemorial Day WeekendSummer home improvementThis Old HouseZillow2012-05-25T09:00:00 00:00Seattle's Escala: 'Fifty Shades of Grey' Love Nesthttp://realestate.aol.com/blog/2012/05/16/seattles-escala-fifty-shades-of-gray-love-nest/http://realestate.aol.com/blog/2012/05/16/seattles-escala-fifty-shades-of-gray-love-nest/http://realestate.aol.com/blog/2012/05/16/seattles-escala-fifty-shades-of-gray-love-nest/#comments

By Erika Riggs

Whether it's scintillating or offensive may be a matter of personal opinion, but few can deny the incredible buzz surrounding the erotic novel "Fifty Shades of Grey."

Posted online by British author E.L. James as a piece of "Twilight" fan fiction, the trilogy of books were picked up by a small publisher out of Australia in 2011. In March 2012, Vintage Books of Knopf Doubleday Publishing Group bid a seven-figure sum to gain rights to the manuscript. Even more recently Universal Pictures paid $5 million for filming rights.

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Banned, embraced and parodied for its graphic sexual content, "Fifty Shades of Grey," like the "Twilight" series, is putting Washington state on the map again. But instead of small-town Forks, where "Twilight" is set, "Fifty Shades ..." is set in downtown Seattle in the luxury condominium building Escala. It's in this high-rise penthouse where the submissive-domination sexual relationship between billionaire Christian Grey and naïve college student Anastasia Steele takes place.

While author James did take some creative liberties with her fiction -- you can't land a helicopter on the penthouse roof like it was done in the book, says Escala's director of sales, Erik Mehr -- he agrees that the Escala is still the best pick for a billionaire character like Grey.

"If you were going to pick something opulent," Mehr said, "This would be the building."

Situated in the downtown Belltown neighborhood of Seattle, the Escala is unlike many of the other luxury condo buildings. It's all about size, and how well-appointed the place is.

Amenities include a private spa, a gym with yoga studio, private dining room, full catering kitchen, and dining area with room for 140, theater room, dog run: Escala is a little more like a five-star hotel than a condo building.

That makes sense, says Mehr. The hotel concierge staff is run by a company that provides services to high-end hotels like the Salish Lodge and Four Seasons.

Needless to say, it's a condo building with everything a billionaire bachelor would want, and a place that many "Fifty Shades" fans are aching to learn about. Mehr said that about a year ago, his team began to get phone calls from people who wanted to know "the layouts of the penthouse and the details of the condos." Clearly, something was up. When the Escala held open houses, visitors included "Fifty Shades ... " fans who wandered about, checking on the amenities and basic floor models.

But with 70 percent of the units sold, the building is now only available for tours by appointment. And those who want to see one of the 5,200-square-foot, fully customizable and private penthouses are required to be pre-qualified.

While base models in the Escala started around $400,000, a penthouse runs between $4 to $6 million. Only one has been purchased, and although San Francisco Giants' star pitcher and Seattle native Tim Lincecum lives in the building, he bought the "sub-penthouse" layout for about $1.5 million instead.

Read more on Zillow:
'Deep Throat' House Ready for New Owner
Robert Pattinson and Kristen Stewart's LA Hideaway for Sale
Pitcher Tim Lincecum Living High and Mighty After Deal

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5 Need-to-Know Facts About Fifty Shades of Grey

 

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]]>50 shades of gray50 shades of gray buildingescala buildingescala seattlefifty+shades+of+greyfiftyshadesofgreyreal+estate+fifty+shades+of+grayrealestatefiftyshadesofgrayseattle escalaZillow2012-05-16T13:03:00 00:00Luxury Staircases That Step Up the Design Dramahttp://realestate.aol.com/blog/2012/05/14/luxury-staircases-that-step-up-the-design-drama/http://realestate.aol.com/blog/2012/05/14/luxury-staircases-that-step-up-the-design-drama/http://realestate.aol.com/blog/2012/05/14/luxury-staircases-that-step-up-the-design-drama/#commentsFiled under:



You may take the stairs for health purposes, but what about staircases for aesthetic reasons? After all, staircases can make a big, bold statement upon entering a home. And, for movie buffs, significant scenes have been played out on staircases, including Scarlett O'Hara's grand entrances and exits and Rocky's triumph in running up the stairs at the Philadelphia Museum of Art.

We found some impressive staircases in homes for sale, ranging from marble spirals to seemingly floating structures. The staircases below will make you feel like a million dollars and have you skipping the elevator more often that not.

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Read more on Zillow:
Homes With a Past: Missile Silo, Schoolhouse, Caboose & More
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]]>dramatic designdramatic home designluxury staircasesstaircase designstaircasesZillow2012-05-14T17:30:00 00:00How to Negotiate Your Rent: 4 Key Stepshttp://realestate.aol.com/blog/2012/04/20/how-to-negotiate-your-rent/http://realestate.aol.com/blog/2012/04/20/how-to-negotiate-your-rent/http://realestate.aol.com/blog/2012/04/20/how-to-negotiate-your-rent/#commentsFiled under:

By Vera Gibbons

As many potential buyers continue to shelve their purchase plans and opt to rent instead, vacancies are low, and rents, which take a big bite out of your household income, are high -- up 5.8 percent in the Chicago metropolitan area, for example; up 8.3 percent in Philadelphia. This makes finding a place -- at a price you can afford -- nothing short of challenging. Here's how to negotiate your rent:

1. Research rental prices.

Zillow's recent survey indicates that a whopping two-thirds of renters skip this step, and simply sign the lease, no questions asked. That's because information about fair prices on rental homes has been hard to come by. Enter Zillow's Rent Zestimates. Make this your starting point to determine the fair rental price of a home or apartment, and use this as a tool to negotiate your rent, too. In addition, look at similar rental listings on Zillow, check out the classifieds, talk to local real estate agents or property manager who specializes in rentals. And research the demand for rentals in your area. Knowledge is power!

2. Sell yourself.

If you have good credit (think: 720 or higher), solid references, a history of paying on time, a stable job and live your life responsibly and are respectful of others, that makes you a model tenant. And model tenants -- extremely tough to come by in this current economic environment -- save landlords both time and money.

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3. Go long.

Offer to sign a two-year lease at a one-year rate. Some landlords may go for this arrangement, particularly if the unit has been vacant for some time or if the landlord has multiple vacancies (not unheard of, even though it's technically their market). Plus, it saves them on cleanup and advertising costs.

Sweeten the pot

Landlords want to know what's in it for them. See if they'll give you a break on your rent if you agree to do some work -- like mow the lawn, tend to the garden, etc. Or consider paying several months worth of rent upfront, at a slightly reduced rate.

4. Don't fixate on money.

Assuming you've done your research and are not in a position to ask for lower rent, or are not getting the results you want, what about asking for other concessions, like free parking, free storage space, or a gym membership, perhaps? Just be polite, reasonable, and non-confrontational when making "the ask." And always be willing to walk. This means having a backup plan in place prior to negotiating.

Read the original article, "How to Negotiate Your Rent," on Zillow.

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Tips on Looking For a Rental

 

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]]>finding a rentalhow to find an apartmenthow to negotiate rentrent vs. ownrental negotiationrental tipsresearching rental pricesZillow2012-04-20T12:30:00 00:007 Green Home Trends: From Baby Steps to Extreme Updateshttp://realestate.aol.com/blog/2012/04/12/green-home-trends-from-baby-steps-to-extreme-updates/http://realestate.aol.com/blog/2012/04/12/green-home-trends-from-baby-steps-to-extreme-updates/http://realestate.aol.com/blog/2012/04/12/green-home-trends-from-baby-steps-to-extreme-updates/#commentsFiled under:

By Erika Riggs

Recycling is one thing, but a composting toilet? That's when you know you're taking the going-green trend to its, um, "natural" conclusion.

While many homeowners and builders are beginning to make changes to homes to incorporate eco-friendly products and materials, these are just the bud of the going-green trend. To really get the lowdown on what the seriously green-minded homeowners can do to help the cause, we've rounded up a list of fixes that can be done to a house, whether it was built in 1912 or 2012.

1. Update your bulbs.

You're going to have to change out your standard incandescent bulbs eventually. This year marked the first stage of phasing out 100-watt incandescent bulbs under the CLEAN Energy Act, but 70-, 60- and 40-watt bulbs are next on the chopping block. Switching to compact fluorescent lights (CFL) or LEDs not only conserves significant electricity, but significant savings as well -- more than $57 over the life of the CFL, one report found.

2. Upgrade to Energy Star appliances

One of the simplest ways to upgrade your home in a green way is to purchase an energy-saving appliance. The best bet is to find one that earns the government's "Energy Star" rating. The appliances are designed to reduce greenhouse emissions as well as your energy usage over time. Many products can mean tax rebates for your green efforts.

3. Reuse rainwater.

The simplest place to reuse rainwater? In your garden. By installing an affordable rain barrel that catches runoff from your roof or gutters, you can save enough rain to water your lawn or growing spring garden.


4. Get geothermal

Even if your home state is plagued by cold winters or blistering hot summers, did you know that below the frost line the ground stays about the same temperature year-round? By tapping into this, you can cool or heat your home in a very eco-friendly way. This isn't a way to create electricity, but rather reduce the amount of energy you use to maintain your home's temperature. Installing a geothermal system isn't cheap (estimates range from $11,000 to $30,000 for a 2,000-square-foot home), but with tax incentives and significant energy bill reductions, the savings are incredible. If you plan on being in your home for a long time, it could be worth it and perhaps add to your home's re-sale value.

Energy Saving Tips For Your Home



















5. Solar panels

Solar energy has been powering calculators for years, but it's only recently become more common in homes due to a drop in costs of installing a solar energy system. While powering your home using solar energy still isn't cheap, it's one of the few ways that a homeowner can "live off the grid" by storing extra energy in batteries. The other option is to continue a connection to the utility grid, buying the power you need and selling the power back when you produce enough on your own.

6. Reuse 'gray' water

The EPA estimates that an average family of four uses 400 gallons of water every day. While not all that water can be reused, 'gray' water, which is water from your sink, laundry, but not contaminated by waste (i.e., not toilet water) can be recycled. While not as common as some other green home features, gray water recycling systems take the water from your morning shower or from yesterday's washing machine cycle and filters it for reuse in your toilet or your garden.

7. Composting toilet

There's green. Then there's really green. Even a home completely "off-the-grid" won't necessarily have a composting toilet, but when installed properly, a composting toilet is the final nod to going green. A composting toilet will break down the waste through natural decomposition -- the only thing needed is the right temperature (about 65 degrees) and enough oxygen. However to keep this environment, some key things need to be monitored, which may be more effort than most people are interested in.

See the original article on Zillow.

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]]>composting toiletsenergy saving lightbulbsgeothermal heat homesgray watergreen home upgradesgreen homesgreen trendsreusing rainwatersolar panelsusing Energy Star appliancesZillow2012-04-12T11:30:00 00:006 Tips to Negotiating Your Lease Agreementhttp://realestate.aol.com/blog/2012/04/09/6-tips-to-negotiating-your-lease-agreement/http://realestate.aol.com/blog/2012/04/09/6-tips-to-negotiating-your-lease-agreement/http://realestate.aol.com/blog/2012/04/09/6-tips-to-negotiating-your-lease-agreement/#commentsFiled under:

By Jessica Hickock


The time to negotiate your lease agreement is not when you are sitting down at the table with the landlord and/or property manager ready to sign the agreement. You need to talk the terms through before the lease signing date is set, but not until after you have an approved application. If you start off the initial conversation with the landlord/property manager requesting lease term negotiations, you will probably rub them the wrong way.

1. Make sure the timing is right.

As a property manager, I get first-time phone calls from potential tenants wanting to know if I will take a lower amount for the rent. I don't even know their names yet, nor if they will qualify for the property, so I am already put off by their request and probably won't be willing to negotiate anything with them. You must show some good faith by turning in your application stating your interest in the property.

2. Respect the landlord's rules (policies) first before you start with your negotiations.

Respect goes a long way. For example, the landlord may have written into their lease agreement that they have a right to be in unit at any given time in order to make inspections, repairs, etc. You may not like this and want some sort of notice first before they show up. So be sure to make your request with a respectful tone and say something along the lines of "I'm fine with your right to inspect the property, however I would like to request a 24-hour notice by phone or e-mail before you come." This will go a long way with the landlord/property manager if you respect their terms, they will likely reciprocate.

3. Don't be greedy in your negotiation requests.

"Shoot for the moon" should not be your goal in making requests. Asking for 3 months free of rent AND a reduction in the monthly rent amount will turn off an owner. They will be more likely to let the property sit vacant for three months in an effort to get the full rent amount. Keep your requests reasonable and scale back any over-the-top ideas.

4. Remember that negotiations are two-sided.

While the market may be favorable for tenants, you still need to have some consideration for the landlord/property manager. Maybe a reduction in rent is not possible for the whole one-year lease term. However, maybe the reduction will be considered for the first 4 months and then offer to pay a graduated rent amount for the remainder of the lease term. If you show an effort of unification and benefit to both parties, they will most likely be willing to work with you.

5. Rent is not the only thing you can negotiate.

While you may be trying to get a deal on your monthly rent amounts, the landlord/property manager may be set on receiving a specific amount and may seem to stonewall you on reducing the rent amount. But you can still negotiate a benefit. Consider requesting that the landlord/property manager either clean the carpets, paint the interior living room, or offer to have the property generally cleaned once a month for the first 3 months for you. Or maybe you will be able to work out a security deposit adjustment.

6. Be sure that all negotiations are in writing and agreed upon

If anything is handwritten into the lease agreement, then be sure that all parties initial (or sign) and that it is consistent on all copies of the lease agreement.

Keep a good attitude in check and do not give an aura of an ungrateful or arrogant attitude. The worst thing that a landlord or property manager can say is "no." You are not forced to rent that property, so you can always say "no thank you" too and move on to another property if the lease terms are not what you want. However, arrogant and ungrateful attitudes will only result in a stronger "no" from the landlord and less tolerance for negotiations and agreements. Keep that in mind.

See the original article, "6 Tips to Negotiating Your Lease Agreement" on Zillow.

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Why Landlords Charge High Security Deposits
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Apartment Home Living Tip - Renewing Apartment Lease

 

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]]>How to Negotiate a Rental Lease Pay Less Rentnegotiate leasenegotiate rentnegotiating leasenegotiating rentZillow2012-04-09T15:00:00 00:00How to Buy and Sell a Home at the Same Timehttp://realestate.aol.com/blog/2012/04/06/how-to-buy-and-sell-home-at-the-same-time/http://realestate.aol.com/blog/2012/04/06/how-to-buy-and-sell-home-at-the-same-time/http://realestate.aol.com/blog/2012/04/06/how-to-buy-and-sell-home-at-the-same-time/#commentsFiled under:

Is it possible to buy a home and sell your home at the same time anymore?

And what should you tackle first? Should you get an offer on your home before you try to find a new place to buy? Or should you find the home you want before putting yours on the market? And will a bank even allow you to buy without selling anymore?

These questions are all valid because real estate has changed in the past few years. Before the real estate banking crisis of 2008, it was very easy to leverage the equity you had in your current home. By opening a home equity line of credit, known as a HELOC, you could borrow up to 95 or even 100 percent of your home's value and use that money as your down payment for the purchase of your next home. You could close on the new home and then sell yours immediately afterwards.

Nowadays, the equity in your home has likely slipped away and lenders rarely allow such leveraging. It's a new market and we have to find a new way to do things. It was stressful before and it can be even more stressful now. It's difficult to precisely time a real estate transaction but for many, the financial stakes are high.

Though there may be more stress and the process can be more difficult, there is still a way to buy and sell a home at the same time. However, before you begin, you need a well-thought-out plan, a good agent on your team and be fully prepared.

Of course, there are things you and your agent can do to increase the odds that your multitasking will pay off. Here are five tips to get you started:

1. Know your finances inside and out. This is a no-brainer. You need to know not only what you can afford to buy, but also, what your house is worth before you even get started. Talk to your real estate agent and consult a mortgage banker or broker for loan pre-approval.

2. Start packing. Start boxing up stuff you don't need easy access to. Get rid of all the things you won't need until you've moved into your new home. This will help make your home show better and starting the packing process now will make it that much easier to move later. You may need to rent a storage unit temporarily for your stuff.

3. Do whatever quick fixes you need to do to sell your home. Do you have a toilet that constantly runs? Is your kitchen right out of the 1950s? If so, get busy fixing those things that could cause your home to sit on the market longer than necessary or affect your home's value.

4. Start home shopping and learning the market. Start going to open houses and seeing what's out there. Begin the process of elimination: What are the must-haves and the deal-killers?

5. When you're ready, list it. Depending upon your situation, you might want to list your property toward the higher end of its value range, once you're actively in the market. This can buy you time while you shop for your next home. And who knows? You might get more money. (It still happens.)

Starting now helps reduce the stress later

From this point on, the situation can play out in any number of ways.

For example, you might find a home you love before you've got a firm offer on your house. In that situation, you could make the seller an offer with a contingency that your offer is subject to the sale of your home.

On the other hand, let's say you're the seller and someone has made a solid offer on your home. Great. But you haven't found your next home yet. Here, you might ask the buyer to let you stay in your home for a month or more as a renter, while you continue your house search.

There are hundreds of variables and the possibilities, depending on your local market and your personal and financial situation. The main thing is to do as much of the buying and selling homework as you can up front. This will help you react more quickly later. And best of all, you'll be less stressed.

See more tips about buying and selling a home at the same time.

Read more on Zillow:
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5 Spring Cleaning Tasks That Matter Most

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]]>buy a homebuy and sell homehow to buy a homehow to buy and sell a homehow to sell a homesell a homeZillow2012-04-06T11:15:00 00:00Buy a Home for the Price of an Average Carhttp://realestate.aol.com/blog/2012/04/03/buy-a-home-for-the-price-of-an-average-car/http://realestate.aol.com/blog/2012/04/03/buy-a-home-for-the-price-of-an-average-car/http://realestate.aol.com/blog/2012/04/03/buy-a-home-for-the-price-of-an-average-car/#commentsFiled under:


A house for the same price as a car

A house for the price of an SUV? That's plausible, given the dip in housing. But a home for the price of a Ford Fiesta?

Whoa. Now there's a value-bending proposition.

While most people don't think of real estate in prices relative to that of a car, there are houses in some parts of the United States that are for sale with listing prices just like what you'd see at an auto dealership.

And we're not talking about a house priced at the median home value of $150,000, which is akin to the sticker price of an Aston Martin. The homes featured below compare more favorably to standard highway fare: Nissans, Hondas, Fords, etc.

Some of these properties are distressed sales -- either foreclosed or in the midst of a short sale -- and some need a little renovation, but that's still a pretty impressive deal given that they're all comparable to the price of a new car.

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Read more on Zillow:
How Much Home Can You Get For $150,000
What $250,000 Will Buy in Different Housing Markets
Home of the Week: Merv Griffin's Former Home for Sale

See also:
Best Neighborhoods 2012: First-Time Homebuyers
Buford, Wyo.: America's Smallest Town Up for Auction
Home Prices May Withstand Foreclosure Wave

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
See celebrity real estate.


All About Home Short Sales

 

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]]>bargain real estatebuy home for average care priceforeclosure dealshomes as cheap as carshomes cost average carshort sale dealsZillow2012-04-03T14:50:00 00:00When Burning Down Your Home Is a Win-Win for Everyone (PHOTOS)http://realestate.aol.com/blog/2012/04/02/when-burning-down-your-home-is-a-win-win-for-everyone/http://realestate.aol.com/blog/2012/04/02/when-burning-down-your-home-is-a-win-win-for-everyone/http://realestate.aol.com/blog/2012/04/02/when-burning-down-your-home-is-a-win-win-for-everyone/#commentsFiled under:

By Richard Taylor

It was late in the day when it finally happened. A puff of smoke appeared just over the rooftop at the far right side of the house, then another appeared, near the chimney.

Within moments smoke was pouring from the entire roof and flickers of orange flame began appearing in the windows.

A cheer went up from the assembled crowd as the flames grew; soon the roof weakened and began to collapse. A dozen firefighters stood by, cheering along with the crowd.

Huh?

Usually, a home burning to the ground is a tragedy, a disaster, a crime -- or all three. This, however, was a welcomed event that would benefit the homeowners, the fire department, and dozens of families we'd never meet.

What?

OK, maybe a little background is needed here.

Why burn a house down?

The derelict home my clients had purchased wasn't worth much; in fact the only real value was in the property, a sloping lot with several large trees, located in a quiet Midwestern college town.

This was the site they'd chosen for their dream home. Problem was, there was already a house there.

Whenever possible, existing homes should be remodeled, renovated, reused. After all, reusing an existing home is the height of sustainability. But this little home was too far gone from years of neglect -- it wasn't worth saving.

But that didn't mean it couldn't serve a higher purpose (or two).

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The owners first contacted the local Habitat For Humanity "ReStore," a discount home improvement store that re-sells new and reusable home improvement building materials. Habitat's volunteers came to the house and picked up cabinets, appliances, doors, windows, hardware, and anything else they could salvage and resell.

Habitat uses the funds from reselling these salvaged items to advance their mission of eliminating substandard housing and creating homeownership.

That's a great way to make use of perfectly good building materials that otherwise might have ended up in a landfill -- and that the owners would have had to pay to haul away and that would have been a benefit to no one.

The next call was to the local fire department, to let them know they were planning on burning the house down. Obviously, they were thrilled! No really, they were -- because the owners offered the house for a training burn. A training burn is a controlled burn, giving the firemen a chance to practice firefighting techniques in a real world scenario.

The fire department arrived after Habitat had taken away everything useful. They put wood pallets and hay bales in each room and burned them one at a time. The exercise lasted all day; they'd burn, put out the fire, and burn again.

They'd invited all the neighbors, who came with lawn chairs and blankets. It was almost like a Fourth of July picnic, only with bigger, hotter fireworks.

It was fascinating to watch the burn - and a sobering reminder of the dangers that firefighters face in service to the community. We were all kept about a hundred feet from the house but even at that distance, the heat from the fire was incredible.


After a full day of training, it was time to burn the house for real. The fire department set one more strategically located fire and let it runs its course. A backhoe stood by and used its bucket to push the house in on itself as it burned, keeping the burning debris within the home's foundation walls.

When the fire ended, little was left but the foundation walls and ashes, saving the owners the cost of demolishing the house and hauling the debris to a landfill.

Before long, a new home rose where the old one had stood, and a new family moved into the neighborhood.

Somewhere, miles away, someone bought some building materials from Habitat For Humanity and helped put many more families into homes they thought they'd never have.

Not every house is a good candidate for a training burn; fire departments are picky about the ones they choose. And of course a house that can be renovated should be. But when it makes sense to burn a house down, the benefits spread throughout your community in ways you might not imagine and may never know about.

And it's a great way to get to know your neighbors:

"Honey, these are the Smiths. They just moved in and they've invited us to their "house-warming" next week!"


VIDEO: Below, watch a controlled burn in Hudson, Wis., during fire department training exercise. About 35 firefighters and rescue personnel took part in the interior fire suppression, and search and rescue training. Video credit: AOL PATCH





Read more on Zillow:
Tips for Fire Safety in Your Home
How to Figure the Value of Empty Building Lots
Beware of Value-Killing Renovations

Richard Taylor is a residential architect based in Dublin, Ohio and is a contributor to Zillow Blog. Connect with him at http://www.rtastudio.com/index.htm.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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Find out how to calculate mortgage payments.
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]]>burn down my homeburn down your homeburning homecontrolled home burningcontrolled house fireHabitatForHumanityhome salvagehow to burn a homehow to burn a househow to burn down your homewrecking vs remodeling a homeZillow2012-04-02T12:50:00 00:00How to Use Outdoor Space To Sell Your Homehttp://realestate.aol.com/blog/2012/03/28/how-to-use-outdoor-space-to-sell-your-home/http://realestate.aol.com/blog/2012/03/28/how-to-use-outdoor-space-to-sell-your-home/http://realestate.aol.com/blog/2012/03/28/how-to-use-outdoor-space-to-sell-your-home/#commentsFiled under:

Humorist Fran Lebowitz once wrote,

"The outdoors is what you have to go through to get from the apartment into the taxi."

But she's an exception. When considering a new property, nearly every homebuyer considers the outdoors in some way as a requirement for a property they're considering.

If the buyer is looking for a home in the suburbs, they want to know about the size of the lot, access to the yard, whether or not there's a pool, or the location of the lot in relation to the neighborhood.

Some buyers love properties on corner lots; others, not so much. In more urban areas, buyers want to know if a property has any outdoor space at all and, if not, where is the nearest park?

Big Cities, Small Spaces

Just having some outdoor access doesn't always do the trick, either, unless you're in a large city like New York, where private outdoor space is few and far between and therefore something to be coveted. New York City apartments with a deeded, usable outdoor space often sell for 20 to 30 percent more than the same apartment without the highly sought-after outdoor access.

The key word when identifying the value of outdoor space is "usable." Having usable -- easily accessible -- outdoor space from the house, that can be enjoyed most of the year, definitely helps sell a property. This is why, if you're a seller and you've got the goods, you should make the extra effort to showcase your deck, yard or patio.

If you have outdoor space but it's detached from the property -- like a backyard one floor below a condo, to which you have rights but no easy access -- you should still point it out to potential buyers. Just realize that they aren't likely to pay as much for your place as they might for a similarly configured and priced property that offers direct, easy outdoor access.

Living room or great room that opens to outdoors? Jackpot!



Some of the most valuable outdoor spaces are in areas accessible directly from the best parts of the home, usually the kitchen/living area or the great room/media room. These are the places where people tend to hang out the most. Having an outdoor space directly off a communal, desirable part of the house serves as an extension of that living area. And if designed correctly, it will give the inside living area the appearance of more square feet.

If you're selling and you have this outdoor real estate gold, focus your staging/prepping time on it. Much like giving the front of the home curb appeal, pay extra attention to the outdoor spaces. People love to entertain, especially during the warmer months. So it's important to show potential buyers how they can live and use this space.


How to Highlight Your Outdoor Space



Here are a few things sellers can do to bring out the best in your outdoor space:

Add comfortable-looking, inviting outdoor furniture.

Is your stereo system hooked up to outdoor speakers? If so, be sure to point this out. Play music (softly) outdoors during an open house.

Have a backyard grill? Make sure it's clean and prominently displayed.

Landscape! Plant flowers, pull weeds, thin out any scraggly trees and bushes, and make sure the grass is freshly mowed.

Consider low-maintenance lawn alternatives. Turf grasses and ground covers can be an easy way to make your lawn more attractive. They're low-maintenance as well, which many busy professionals today will appreciate. And lawn alternatives can be, ironically, "green" -- eliminating the need for herbicides and gas-powered lawnmowers.

This might sound extreme, but you might also consider adding a deck or patio to your backyard if you don't have one. It's an investment, to be sure, but one that often pays for itself and then some.

Properties these days take longer to sell, and outdoor space is an asset. Consider it an extension of your home. The nicer it looks, the better the interior of your home will look -- and, with luck, the easier your job of selling will be.

Read more on Zillow:
Long Weekend Project: DIY Patio
Outdoor Luxury Spaces Provide Perfect Escape
How to Pick a Real Estate Agent That Suits Your Needs

Brendon DeSimone is a Realtor and real estate expert based in San Francisco and New York. He is a contributor to Zillow Blog, has collaborated on multiple real estate books and is often quoted by major media outlets. Follow Brendon on Twitter.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

A Chicago Yard for All Seasons



















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]]>apartment outdoor spacehome outdoor spacehouse outdoor spacehow to use outdoor spaceoutdoor spaceZillow2012-03-28T16:50:00 00:003 Things to Know About Appraisalshttp://realestate.aol.com/blog/2012/03/27/3-things-to-know-about-appraisals/http://realestate.aol.com/blog/2012/03/27/3-things-to-know-about-appraisals/http://realestate.aol.com/blog/2012/03/27/3-things-to-know-about-appraisals/#commentsFiled under:

If you haven't had your home appraised in a while, here are three important things you need to know because the process has changed -- dramatically. And while appraisal qualifications haven't changed over the past few years, the process has, says Ken Chitester, the Appraisal Institute's spokesperson. Here are the three key areas that have been altered:

1. Relationship Between Lenders and Appraisers

The biggest change is that lenders and appraisers no longer work together -- a method that many say was a breeding ground for appraisal fraud. "Lenders used to put all this pressure on the appraiser to inflate home values to hit certain numbers so that it was a win-win for all," says Chitester. At its core, the HVCC (Home Valuation Code of Conduct), which took effect May 1, 2009, was designed to prohibit mortgage professionals from hand-picking appraisers in lieu of using appraisal management companies. And while fraudulent activity is down as a result of the HVCC, says Tim Coyle, a senior director at Real Estate & Mortgage Solutions, new problems have arisen.

2. Quality of appraisals

As for the quality of appraisers... Here's the reality: ever since AMCs have taken over the appraisal process, appraisers themselves have paid the price - in more ways than one. "They're not making as much money as they used to (Some appraisal management companies are paying about $200 for an appraisal that would normally pay $350-$400), and they're expected to complete the process in unrealistic time frames," says Chitester. As a result, he says, both the quality and level of competence of the appraiser has taken a hit. "We're seeing the better residential appraisers leave the industry or move toward more lucrative areas within the industry." Indeed: In 2007, there were nearly 99,000 licensed appraisers; at the end of 2011, there were just 87,000.

3. Deal or no deal?

Stats don't lie: An astounding number of contracts are being cancelled - some 33% in January, 2012, alone. That's up from just 9% in January, 2011. Why the elevated levels of deals gone wrong? In large part, it's due to lowball appraisals, according to the National Association of Realtors. Other reasons: something has gone wrong with the inspection process that cannot be remedied, or the buyer has either lost his/her job unexpectedly, or simply gotten cold feet. Regardless, brace yourself for the possibility that your home may not be assessed at a fair value, putting you at a disadvantage.

More on Zillow:
How to Boost Your Appraisal
How Appraisals Work
Why the Property Price is of Low Importance

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]]>Zillow2012-03-27T14:15:00 00:009 Unconventional Ways to Remodel Your Homehttp://realestate.aol.com/blog/2012/03/23/9-unconventional-ways-to-improve-your-home/http://realestate.aol.com/blog/2012/03/23/9-unconventional-ways-to-improve-your-home/http://realestate.aol.com/blog/2012/03/23/9-unconventional-ways-to-improve-your-home/#commentsFiled under: ,

By Richard Taylor

Conventional wisdom, as it relates to houses, is often too much convention and not enough wisdom.

Every year, somebody publishes a list of which conventional home improvements will give you the best (or the worst) return on your remodeling investment: Remodel a bathroom. Replace your siding. Don't build a swimming pool. Paint everything neutral colors.

If "return on investment" (ROI) is why you bought a home, or why you're remodeling one, you can stop reading now. Because the rest of this article isn't for you.

Three, two, one ... still here?

You invest in your home to improve livability first, not value. If you get more value in the process, consider it a bonus, but don't make ROI your prime directive.

Let me rephrase the remodeling-ROI question this way: What are some cost-effective ways to improve the livability of your house?

Here's my short list:

1. Walk-in pantry instead of kitchen cabinets.

Kitchen cabinets are expensive. Half of them are up high on the wall where they're hard to reach, and the wall space they take up could be better used for windows. A pantry takes up less space, stores a lot more, is much easier to use, and costs less to build.

2. Comfortable shower instead of big bathtub.

My firm does a lot of work in late-70s/early-80s neighborhoods that are loaded with huge tubs. We're taking them all out, one at a time, and replacing them with comfortably-sized showers (not the racquetball-court sized ones you see in home shows) that people actually use every day.

A shower takes up less space, uses less hot water, and is far more sanitary than a big tub.

3. Group windows together facing best views instead of scattering them around the house.

Got a great view somewhere? Bring it into the house with lots of glass. Take excess windows from bedrooms and baths and use them to connect the inside of the house with the outside.

We once remodeled a house on the coast of Lake Erie that had one window -- one -- facing the lake. Hey pal, did ya notice the Great Lake in your backyard?

4. Keep ceiling heights reasonable for the room size.

"Volume" ceilings do not automatically make better rooms. They just make taller rooms. Rooms that are harder to decorate and more expensive to heat and cool. Instead, focus attention on a view, a large fireplace, or other element and away from the ceiling height. Use wall trim and multiple paint colors to break up the volume of the room and create the illusion of height.

5. Spend more time planning, and less money building.

I toured a client's existing home before we began designing the new one. "Of course," she said as we peeked in on the kids' rooms, "these bedrooms are way too small." Really? I thought. The smallest was probably 14-by-15 feet. But each bedroom had at least one door or one window on each wall. Pretty, but the design left little room for furniture.

I suggested we more carefully design the new bedrooms -- keeping the furniture placement in mind. In the end, we were able to easily accommodate each child's bedroom furniture comfortably in smaller bedrooms than what they'd had before.

6. Consider the simple elegance of the box-form house.

Subtlety and restraint used to be virtues in home design. These days, far too often, inexperienced designers attempt to attract attention to their homes by adding more stuff --more gables, more materials, more bays, etc. Others know that proper proportion, scale and details are what turn heads.

The simple box house is a classic American form that's survived 150 years of stylistic changes. Greek Revival, American Four-Square, Tidewater Georgian -- all simple boxes. Great proportions, great details -- done.

And here's a bonus -- the box form is easier and cheaper to build, and because it encloses a larger volume in less perimeter, it's less expensive to heat, cool and maintain.

7. Share part of the master bath.

This isn't for everyone, but it really tightens up the budget and the floor plan. Make the toilet and a sink in the master bath accessible to the rest of the house, instead of building a separate half bath -- it won't be used much by you during the day, and rarely by guests at night.

Why have two baths when one will do?

8. Spend it when you have it, not before.

Sure, it'd be great to have those granite countertops now, but your budget's tight and granite is 10 times the cost of laminate tops. So how about putting in nice laminate tops now, and replacing them with granite in five years when you have the cash? You can easily do the same with light fixtures, flooring, window treatments.

9. Compartmentalized bathrooms -- two baths in the space of one and a half.

Each kid doesn't need his/her own bath, but they do need privacy and room to share. A compartmentalized bath puts two sinks in one room and the toilet and tub/shower in another -- so three kids can use the bath at once and keep a little more harmony in the family home.

I doubt any of these ideas will ever make a magazine's list of "Best Remodeling ROI" projects. But every one saves you money over a more "conventional" design strategy, and every one increases the livability of your home.

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More on Zillow:
Beware of Value-Killing Home Renovations
Tips for Fire Safety in Your Home
Know the Tax on Your Investments

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
See celebrity real estate.

Troubleshooting Remodeling Tool

 

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]]>bathroom additionsbudget remodelscompartmentalized bathroomsgaining bedroom spaceshowers vs bathtubsthrifty home improvementthrifty remodelunconventional home improvementunconventional remodelswalkin pantrywindow placementZillow2012-03-23T17:00:00 00:00HARP 2.0: Do You Now Qualify for Mortgage Relief?http://realestate.aol.com/blog/2012/03/19/harp-2-0-learn-if-you-qualify-for-relief-due-to-new-changes/http://realestate.aol.com/blog/2012/03/19/harp-2-0-learn-if-you-qualify-for-relief-due-to-new-changes/http://realestate.aol.com/blog/2012/03/19/harp-2-0-learn-if-you-qualify-for-relief-due-to-new-changes/#commentsFiled under:

By Alison Paoli

The HARP 2.0 refinance program will become widely available to underwater homeowners today and is expected to bring mortgage relief to those who are current on their home loan, but have been unable to refinance into today's historically low mortgage rates because of their negative equity status.

The full implementation of the revamped HARP 2.0 program, which was initially announced by President Obama in late October 2011, has taken several months to come to fruition. And while in recent months it's been available on a manual basis and limited to just the homeowner's current servicer, the series of changes that the computerized version of the program has undergone will dramatically increase the volume and speed of applications processed. (Compare flying 100 people across the ocean versus 100 people swimming across it).

To be eligible for a HARP refinance, you can either use this HARP eligibility calculator with detailed eligibility explanations or follow the general guidelines below:

1. Your loan must be owned or guaranteed by Fannie Mae or Freddie Mac. If you are unsure, you can check both Fannie Mae and Freddie Mac's websites or you can call their toll-free numbers for confirmation.

Fannie Mae: http://www.fanniemae.com/loanlookup/ 1-800-7FANNIE (8 am to 8 pm ET)
Freddie Mac: https://ww3.freddiemac.com/corporate/ 1-800-FREDDIE (8 am to 8 pm ET)

2. You must have closed your current loan on or before May 31, 2009.

3. You must not have made a late payment within the past six months and have had no more than one late payment within the past 12 months.

4. Your loan must fall under the current conforming loan limits. If you are unsure, you can find out here: http://themortgagereports.com/loan-limits/

If you met the general guidelines, what's next?

Zillow's Director of Mortgages, Erin Lantz, recommends you start by contacting your current loan servicer to see if you are eligible.

"You current servicer should be able to tell you if your loan qualifies for a HARP refinance and can help you apply for it. However, just like a regular mortgage program, it makes sense to shop around and compare rates, fees and lender service levels. So start with your current servicer, but it is also a good idea to check out at least one other lender."

HARP Program-specific contact information for major mortgage servicers with whom you already have a mortgage. (Not for new loans or shopping for a new servicer):

Bank of America: 1-800-846-2222
Wells Fargo: 1-877-937-9357
Chase: 1-800-848-9136
Citi: 1-800-283-7918
US Bank: 1-866-932-0462

Read more on Zillow:
How Does a Bank Evaluate Your Loan?
How to Help Boost Your Appraisal
Beware of Value-Killing Home Renovations

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
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Obama Bids to Expand Mortgage Relief

 

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]]>HARP 2HARP 2.0HARP changesHARP qualificationsHARP refinance toolHARP refinancing rulesHARP reliefmortgage reliefnew HARPqualify HARPZillow2012-03-19T12:40:00 00:00Gavin DeGraw Selling Modest Home in 'Other' Hollywoodhttp://realestate.aol.com/blog/2012/03/02/gavin-degraw-house-florida/http://realestate.aol.com/blog/2012/03/02/gavin-degraw-house-florida/http://realestate.aol.com/blog/2012/03/02/gavin-degraw-house-florida/#commentsFiled under:

Gavin Degraw home

By Erika Riggs

Gavin DeGraw's home is probably not what most people picture when they hear the phrase "celebrity real estate."

Although the singer/songwriter's home is listed on the Hollywood real estate market, it's the other Hollywood -- the city located in sunny Florida, not sunny SoCal -- where DeGraw's home exists. And unlike other stars' properties, the home is listed for six figures, not seven or more.

According to the property listing, and public sales records, DeGraw purchased the home for $510,000 in May 2006. The home is now listed for a loss at $365,000 -- a 71 percent price cut.

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DeGraw first gained popularity when his song "I Don't Want To Be" was used as the theme song for TV's drama, "One Tree Hill," and his following album release, "Chariot," was certified platinum.

It was also just announced that DeGraw will be adding dancing to his repertoire this spring with a stint on ABC's "Dancing With the Stars."

Gavin DegrawBorn and raised in South Fallsburg, N.Y., a small hamlet about two hours north of New York City, DeGraw likely used this home -- and a condo he bought in Hollywood in 2007, which is located closer to the beach -- for his snowbird getaways.

DeGraw's Hollywood home was built in 1958 in a classic Spanish bungalow style. The three-bed, two-bath home features 1,700 square feet of living space on a 0.14-acre lot a short distance from the downtown Hollywood and lakefront beaches. The home takes advantage of Florida's light and breezes, with large windows and outdoor entertaining areas.

The tip-off that DeGraw once lived here? One of the rooms is filled with instruments: drum set, keyboard and piano.

The house has been prepared to sell with several updates, including a new roof, fresh paint and new washer and dryer.

The listing is held by Ann McQueen of Elite Coastal Properties.

According to Zillow's house affordability calculator, a monthly payment on Gavin DeGraw's home would be $1,338, assuming a 20 percent down payment on a 30-year-fixed-rate mortgage.

More from Zillow:
"Dancing with the Stars" Cast Making Real Estate Moves
Former Met Carlos Beltran Lists New York Home
Anderson Cooper Lists Fashion District Penthouse

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Gavin DeGraw Talks About Dream Collaboration at 2011 AMAs

 

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]]>Ann McQueen of Elite Coastal Properties.celebrity real estateGavin DeGrawgavin degraw homegavin degraw househollywood florida real estateZillow2012-03-02T17:30:00 00:00Oprah's New York Penthouse Hits the Markethttp://realestate.aol.com/blog/2012/02/27/oprahs-new-york-penthouse-hits-the-market/http://realestate.aol.com/blog/2012/02/27/oprahs-new-york-penthouse-hits-the-market/http://realestate.aol.com/blog/2012/02/27/oprahs-new-york-penthouse-hits-the-market/#commentsFiled under:



By Erika Riggs

In the world of celebrity real estate, stars buy homes through trusts in LLCs in an effort to cut the paper trail leading to their names.

Despite their best efforts, it's possible to figure out who the real owner of a mansion or penthouse is with a little sleuthing.

Such is the case with a posh Manhattan penthouse for sale. In 2008, it was reported that former news anchor and Oprah Winfrey's best bud Gayle King bought a 3-bedroom, 3.5-bath apartment in the new Midtown tower, Place 57.

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After all was said and done, it appeared that the home was not purchased by King, but by the talk show diva herself for $7.1 million.

Who actually lived there is up for debate, but as for now, the penthouse is for sale for $7.9 million and appears vacant.

Finished in 2006, Place 57 has condos that originally sold for $1.47 million to $7 million-plus. Oprah's penthouse sits on the 36th floor and features 2,530 square feet of wall-to-ceiling windowed space as well as a 768-square-foot terrace.

The modern space features a "triangle-shaped" living room, high-end kitchen, dining area and two bedrooms -- one with an attached bathroom. The master suite has three walk-in closets, a jetted tub and sleek shower.

If this is Oprah's home, it's only one on a list of several properties that she owns, including a duplex in downtown Chicago, a plantation in Hawaii, a huge sprawling property in Montecito, Calif., as well as smaller homes and condos in Douglasville, Ga., Franklin, Tenn., and Elmwood Park, Ill.

King currently owns an apartment in the Big Apple as well as a home in Greenwich, Conn.

The home is listed by Mark Schoenfield of the Corcoran Group. According to Zillow's mortgage calculator, a monthly payment would be $29,115, assuming a 20 percent down payment on a 30-year mortgage.

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More from Zillow:
Home of the Week: Mary Kay's Pink Mansion
What You Can Get for $150,000
Patricia Arquette Sells Vine-Covered Home for Loss

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]]>celebrity real estategayle kinggayle king homeoprah homeoprah winfreyoprah+apartment+for+sale+new+yorkoprahapartmentforsalenewyorkZillow2012-02-27T12:35:00 00:00Adele's Studio: Where Grammy Winner Laid Down Trackshttp://realestate.aol.com/blog/2012/02/14/adele-shangri-la-studio-where-the-grammy-winner-laid-down-her-tra/http://realestate.aol.com/blog/2012/02/14/adele-shangri-la-studio-where-the-grammy-winner-laid-down-her-tra/http://realestate.aol.com/blog/2012/02/14/adele-shangri-la-studio-where-the-grammy-winner-laid-down-her-tra/#commentsFiled under:



By Laura Vecsey

With an armload of six Grammys, Adele was the big winner Sunday night in Los Angeles. That was fitting, since Adele recorded portions of her mega-hit album "21″ a few miles up the road in Malibu, at one of the most famous studios in modern music.

What was the Londoner doing in a California coast bungalow overlooking the Pacific, singing ballads about love gone wrong?

Turns out that Shangri-La, where legends like Bob Dylan, The Band, Eric Clapton, Van Morrison and many others have camped out and made some of their own landmark discs, was the perfect place to put some distance between her and her British home.

Adele was wooed last September to Shangri-La by its owner, Rick Rubin, one of the most successful producers ever. Rubin, who has allowed a range of artists like LL Cool J, the Beastie Boys, Johnny Cash, Jakob Dylan, the Red Hot Chili Peppers and others to soar with pitch-perfect delivery, has eschewed his famous Los Angeles home and recording studio called The Mansion in favor of the low-key, richly vibed Shangri-La.

According to Rolling Stone:

"I was expecting it to be really difficult and that I would be quite scared the whole time, being in his company," she says. "But I've never been so chilled out in my life. Rick is the calmest person I've ever met. We would jam out a song for a while, and then see what we had.

About Shangri-La

Originally built by actress Margo Albert, who starred in the movie "Lost Horizon" and who aimed to recreate a mystical place, the Zuma Beach property continues to elicit ethereal performances from some of music's biggest stars, just as it has over the past 40 years.

The studio and living quarters have been described by The Band drummer Levon Helm as "a clubhouse and studio where we and our friends could record albums and cross-pollinate one another's music."

Now with Adele's big score at the 54th Grammy's, Shangri-La continues to be a who's who in recording history. Not only were portions of "21″ recorded there, but the music video for "Rolling in the Deep" was filmed there.

Shangri-La went on the real estate market last May for $4.1 million and fortunately for musicians and music aficionados, the storied placed was purchased by Rubin in August for $2 million.

UPDATE: Zillow confirmed that the property is owned by music producer Rick Rubin.

More from Zillow:
Where the Stars Stash Their Statues
Here Are Some Luxury Love Nests Of Privacy-Seeking Stars
Celebrities That Recently Sold


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]]>Adele Shangri-La StudioShangri-La Studio AdeleZillow2012-02-14T14:50:00 00:00How NFL Stars Fare in Real Estate Arenahttp://realestate.aol.com/blog/2012/02/03/nfl-stars-stadium-size-homes/http://realestate.aol.com/blog/2012/02/03/nfl-stars-stadium-size-homes/http://realestate.aol.com/blog/2012/02/03/nfl-stars-stadium-size-homes/#commentsFiled under: ,



By Camille Salama

The NFL regular season is in the books. The AFC and NFC title games are done. Now it's up to the New England Patriots and New York Giants to whip the country into a lather when these two Northeastern teams head for the ultimate NFL showdown.

Super Bowl XLVI on Sunday, Feb. 5, means finding the perfect place to party while rooting for Tom Brady's Patriots or Eli Manning's Giants. Of course, some NFL stars past and present are not exactly hurting when it comes to palatial digs big enough to host the neighbors.

Which one of these guys would you like to score an invite from to celebrate that unofficial national holiday?

Tom BradyTom Brady

NFL career: New England Patriots (2000-present)

The New England Patriots' MVP QB told the postgame crowd at Foxboro yesterday that he, well, kind of stunk it up against the Baltimore Ravens in the AFC title game. But with an arm that will land him in the Football Hall of Fame, Brady doesn't have a lot to sweat -- at least on the football field. In real estate matters? Well, Brady's been a little down on his luck trying to sell his apartment in the Boston real estate market. After taking a $400,000 price cut from his original 2009 list price, the home was re-listed in early October for $10.5 million. The 5,311-square foot condo offers 3-plus bedrooms, 3.5 baths, a master suite, luxurious kitchen and a state-of-the-art gym.

Tom Brady's Home for Sale - $10.5 million

Tom Brady home

DeMarcus WareDeMarcus Ware

NFL career: Dallas Cowboys (2005-present)

From the looks of it, the All-Pro defensive end is moving up in the world of high-end real estate, listing his Dallas-area home for a cool $2 million. Not that surprising, considering the five-time Pro Bowler is the highest-paid Dallas Cowboy ever, signing a six-year, $78 million contract extension, $40 million of which was guaranteed. Ware's home is located in one of Dallas' finest gated communities and maxes out at a whopping 9,304-square feet of living space. The manse features four living areas, numerous bonus rooms, a wine porch, seven fireplaces, a theater room, and chef's kitchen.

DeMarcus Ware's Home for Sale - $2,198,000



Demarcus Ware home


Carson PalmerCarson Palmer

NFL career: Cincinnati Bengals (2003-2011), Oakland Raiders (2011-present)

After an ongoing dispute between Palmer and Bengals president Mike Brown regarding Palmer's request to be traded, the team finally let go of the quarterback in October 2011. Now playing for the Oakland Raiders, the QB has moved out West, selling his Cincinnati home for $1.915 million. The 5-bedroom, 5.5-bath home is situated on a private five-acre lot and is filled with architectural details like carved-wood paneling, floor-to-ceiling windows and built-in bookcases. With a full game room, pool table and wet bar, this place could be the new owner's perfect Super Bowl party setting.

Carson Palmer's home sold - $1,915,000



JaMarcus RussellJaMarcus Russell

NFL career: Oakland Raiders (2007-2009)

While quarterback JaMarcus Russell was making plays on the football field, he apparently wasn't making payments on his million-dollar mansion (below) in Oakland, Calif. According to TMZ, Russell "allegedly failed to pay $195,512.05 in mortgage payments." In the midst of trying to settle his Oakland real estate mess, Russell is also looking for a job. He was released from the Raiders in May 2010 and is currently a free agent.




See the full list at Zillow.

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]]>athletes homesCarson Palmer houseDeMarcus Ware homeJaMarcus Russell homeNFL athletes homesTom Brady apartmentZillow2012-02-03T16:00:00 00:00What the Fed's Low Interest Rates Mean for Homebuyershttp://realestate.aol.com/blog/2012/01/26/what-the-feds-low-interest-rates-mean-for-homebuyers/http://realestate.aol.com/blog/2012/01/26/what-the-feds-low-interest-rates-mean-for-homebuyers/http://realestate.aol.com/blog/2012/01/26/what-the-feds-low-interest-rates-mean-for-homebuyers/#commentsFiled under:

mortgage ratesThe Federal Reserve announced today that they will keep interest rates low until at least late 2014 in an effort to help jump-start the sluggish economy by making it less expensive to borrow money across all segments of the economy.

What this means for homebuyers and current homeowners is that mortgage rates for a purchase loan or to refinance will remain remarkably low in the near-term, keeping affordability high. The 30-year fixed mortgage rate fell below 4 percent on Zillow Mortgage Marketplace in mid-October 2011 and has dropped as low as 3.67 percent in recent weeks.

Here's a quick comparison of mortgage rates and affordability using today's rates compared to 2008:

Today's rates: For a homebuyer shopping for a home today assuming 20 percent down and today's interest rate of 3.7 percent, they would be able to afford a $215,000 home with a monthly mortgage payment of about $1,000 per month (including principal and interest).

2008 rates: If a homebuyer shopped for a home in 2008 when mortgage rates averaged roughly 6 percent, the same homebuyer would only be able to afford a $165,000 home for $1,000 per month (including principal and interest)

Difference: $50,000

More from Zillow:
State of the Union and Obama's Plan for Housing
Who Needs Super Bowl Tix When You've Got a Man Cave?
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]]>Zillow2012-01-26T08:24:00 00:00Slideshow: See 6 of Mitt Romney's Homeshttp://realestate.aol.com/blog/2012/01/24/slideshow-see-mitt-romneys-6-homes/http://realestate.aol.com/blog/2012/01/24/slideshow-see-mitt-romneys-6-homes/http://realestate.aol.com/blog/2012/01/24/slideshow-see-mitt-romneys-6-homes/#commentsFiled under:

Mitt RomneyBy Erika Riggs

After a barrage of pressure to release his tax forms, former Massachusetts governor Mitt Romney reported his income, confirming what most already knew: He's the wealthiest of the GOP candidates, earning $43 million over the past two years.

While much of Romney's assets comes from his tenure at Bain & Company and investment firm Bain Capital, the presidential contender grew up in relative wealth as the son of American Motor Corporation CEO and former Michigan governor George W. Romney. As such, Romney is also no stranger to high-end real estate, having owned properties in Massachusetts, Utah, New Hampshire, and most recently La Jolla, CA.

See Romney's homes in the gallery below:

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]]>2012 electionmitt romneymitt romney homesmitt romney real estatemitt+romney+housesmittromneyhousesZillow2012-01-24T17:00:00 00:00First-Time Homebuyers: 5 Questions to Ask Before Buyinghttp://realestate.aol.com/blog/2012/01/20/first-time-home-buyers-5-questions-to-ask-before-buying/http://realestate.aol.com/blog/2012/01/20/first-time-home-buyers-5-questions-to-ask-before-buying/http://realestate.aol.com/blog/2012/01/20/first-time-home-buyers-5-questions-to-ask-before-buying/#commentsFiled under:

first time home buyerBy Leonard Baron, Zillow Contributor

Perhaps you've found a house, or maybe you've just started the house hunt, but regardless of where you are in the homebuying process, you need to consider some key questions before you even think about making an offer. Buying a home is a big commitment -- financial and otherwise -- so take the time to weigh pros and cons.

Here are five questions homebuyers should ask themselves:

1. Will I own it for at least five years?

The first and most important item you should ask yourself before you consider buying any property is whether you will own it for a long time. People buy property in hopes of increasing wealth and five years is about the break-even point for earning appreciation in value above the buying and selling transaction costs. Therefore, if you don't plan on holding the property for longer than five years, skip it! Renting a home is NOT necessarily throwing money away. Buying and selling quickly will usually leave you worse off financially than if you just held off on becoming a homeowner.

2. Do I love the home I want to buy?

One of the second most important items is do you love the property? Real estate should be held for the long term, and loving a property should perpetuate a happy enduring ownership. So don't buy a property if you don't love it or at least really like or want that particular property. And don't buy just "to buy" or if someone tells you it is a good idea. Buy what you want, when you are ready, and buy a home that you will proudly boast about to your friends over the years and years.

3. Can I afford it?

It is more expensive to own a home than anyone anticipates. Even if the mortgage lender qualifies you for a certain loan amount and property price, you need to make sure YOU can afford it. Lenders don't generally take into account child care expenses, health care expenses, expensive lifestyles and habits, etc. So make sure that you can comfortably afford your housing payment, still pay your other bills, and still save at least a little more for retirement. Also, if you are not sure of your continued employment situation for any reason, wait until your situation is stable so you can make those mortgage payments.

4. Is the home in good shape?

Here's another warning: Fixer-uppers rarely sell at a big enough discount to compensate for all the work that needs to be done. The cost of construction and property rehabilitation is outrageous, and unless you are a contractor, it almost undoubtedly will cost much more than you anticipate. So leave the "needs TLC" or "fixer-uppers" to the contractors. You want to buy something in decent shape and livable condition so you don't get mired in rehab disaster. (Ever seen the movie "The Money Pit"?)

5. Do I know about the neighborhood?

Did you do adequate research, look at enough properties, learn the neighborhoods, and learn about property ownership before you made an offer? If you just moved into town or if you don't know the area, rent for a while and search out the perfect community in which you would like to live within your financial means. As with any big investment, the better you educate yourself the lower your risk of something going wrong.

While there is no risk-free real estate, considering the questions above should increase your chances of having a great, long-term, property ownership experience.

Leonard Baron, MBA, CPA, is a San Diego State University lecturer, a Zillow blogger, the author of several books including "Real Estate Ownership, Investment and Due Diligence 101 - A Smarter Way to Buy Real Estate", and loves kicking the tires of a good piece of dirt! See more at ProfessorBaron.com.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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]]>advice for homebuyersevery homebuyer should knowhomebuying adviceLeonard BaronLeonard Baron San Diego State University Lecturertips for first time homebuyerswhat homebuyers should knowZillow2012-01-20T15:45:00 00:00