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Duane Devalle
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April is Fair Housing Month

Release date: 04/03/08

40 Years Later, Realtors® Remain Vigilant to Ensure Fair Housing for All Americans

WASHINGTON, April 01, 2008 - As America celebrates the 40th anniversary of the passage of the Fair Housing
Act this month, Realtors® continue to be outspoken advocates for fair housing, working with home buyers and
sellers to ensure they receive equal access to affordable housing and homeownership.

The Fair Housing Act protects the basic right of all Americans to pursue the dream of homeownership, free from
discrimination based on race, color, religion, sex, disability, familial status and national origin. NAR demonstrates
its strong commitment to fair housing through partnerships with real estate diversity partners, education, and grant
and award programs.

“Realtors® build communities and play a vital role in advancing fair housing laws and improving access to
affordable housing,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists in Long
Beach, Calif. “NAR and its 1.3 million members pledge to continue our work educating home buyers and
homeowners in our communities about fair housing laws, discrimination and predatory lending practices, making
the dream of homeownership viable for all Americans.”

NAR is working with Congress to make permanent the new FHA and conforming loan limits, mandated by the
economic stimulus package, so that Americans can access affordable financing in all areas of the country.
Realtors® also continue to push for a stronger, more flexible FHA program, to give more first-time home buyers
access to affordable and safe financing options.

For the past decade, NAR has been educating Realtors® about being sensitive to and aggressive in meeting the
homeownership needs of a diverse society through its “At Home with Diversity” program. More than 25,000
Realtors® have completed the course. In celebration of Fair Housing Month, NAR is waiving the At Home with
Diversity® program fee for any local or state Realtor® association that sponsors the course in April. Realtors®
can also save 50 percent off the online At Home with Diversity® course this month.

NAR also embraces fair housing by recognizing the efforts of individuals and organizations that advance minority
homeownership. NAR joins together with five real estate diversity partners in sponsoring the HOPE Awards
(Home Ownership Participation for Everyone). The awards showcase exceptional individuals and organizations
that are working to increase minority homeownership, revitalize communities and expand affordable housing
opportunities.

In 2007, NAR proudly contributed $1 million to the Martin Luther King, Jr. National Memorial Project. The
memorial is due to open on the National Mall in Washington, D.C. in 2009.

In addition, NAR’s Community Outreach Department provides financial resources to local and state Realtor®
associations for programs and activities that advance smart growth, diversity and housing opportunities. Grants of
up to $5,000 are awarded twice a year; more than $239,000 was awarded in 2007.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association,
representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Source: National Association of REALTORS

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Daily Real Estate News | March 20, 2008

The Nation's Best Cities for Business

Doing business in the United States is challenging these days, but locating in the right city can make life easier.

Forbes magazine has for the tenth year in a row ranked the 200 largest metro areas according to their business
acumen. Cities topping the list have solid job growth, an educated labor pool and low business costs. The
calculation also includes tax, energy and office space costs, and takes into account Economy.com’s living cost
index.

Six of the 10 top metro areas are in and around state capitals.

Here are the magazine’s top choices:

Best Metros

Raleigh, N.C.
Boise, Idaho
Fort Collins, Colo.
Des Moines, Iowa
Lexington, Ky.
Atlanta, Ga.
Richmond, Va.
Olympia, Wash.
Spokane, Wash.
Knoxville, Tenn.

Best Smaller Metros

Sioux Falls, S.D.
Iowa City, Iowa
Bloomington, Ind.
Columbia, Mo.
Bismarck, N.D.
Morgantown, W.Va.
Rapid City, S.D.
Greenville, N.C.
Charlottesville, Va.
Blacksburg, Va.

Source: Forbes, Kurt Badenhausen (03/19/2008)

released last year by the Homeownership Alliance. After immigrant households have been in the country for 30
years, their rate of home ownership rises to just below 75 percent.

For Yun, the Census Bureau figures suggest demand for housing will rise. Last year, new household formation
totaled only 650,000 units, about half the historical norm. “Many people have evidently doubled up with
roommates or have moved back in with family,” he says. Markets should see more demand once consumer
confidence is restored.
Daily Real Estate News | May 12, 2008
The Housing Market of the Future

New trends will reshape tastes in homes and transform how you buy and sell, experts say. So what will the
housing market of the future look like? Money magazine interviewed developers, architects, lenders, and more, to
paint the following picture:

Smaller houses. In a February survey of potential home buyers by the National Association of Home Builders, 60
percent said they would rather have a smaller house with more amenities than vice versa. "In the past, people
would say 'Give me space and I'll add the features later,' " says Gopal Ahluwalia, the NAHB's vice president of
research. Newly built houses will have layouts that can "live bigger" than their square footage would suggest, with
rooms that can do double duty, experts say.

New tools for assessing mortgage risk. With foreclosures projected to reach 2 million nationwide by the end of
next year, bankers are rethinking how they set mortgage rates. Eventually, mortgage pricing may come to resemble
pricing for, say, homeowners insurance, which takes into account dozens of factors. Lenders "want to be able to
assess the risk, practically down to the biological level, that you won't pay your mortgage," says Keith Gumbinger,
vice president of HSH Associates, which tracks the home-lending market.

Housing data: no secrets left. With more innovative real estate Web sites popping up, everyone now knows how
much everyone else's house is worth, and consumers will continue to have unprecedented access to housing
information that was once found only in multiple listing services.

Source: Money, Stephen Gandel (06/01/2008)


Daily Real Estate News | May 2, 2008
Markets That Are Doing Just Fine, Thanks

Some cities aren’t feeling the pain of falling home prices or rising unemployment. Despite the national slowdown,
they're doing just fine.

To identify the economically healthiest cities, Forbes magazine examined key measures in the country’s 50 largest
metros. The magazine studied unemployment and job-growth data from the Bureau of Labor Statistics, home
price data from the NATIONAL ASSOCIATION REALTORS®, and information on gross metropolitan
product growth provided by the U.S. Conference of Mayors.

Here are the 10 cities that Forbes sees as practically recession-proof, along with the percentage of growth for
median-priced homes in the past year.

Oklahoma City, Okla. Median home price: +8.2 percent
San Antonio, Texas +7.9 percent
Austin, Texas +6.4 percent
San Jose, Calif. +11.2 percent
Raleigh, N.C. +4 percent
Salt Lake City +2.5 percent
Houston +1.1 percent
Seattle +1.2 percent
Charlotte, N.C. +3.3 percent
Dallas-Fort Worth +.5 percent

Source: Forbes, Matt Woolsey (04/29/2008)


New Homes: Top 10 Energy-Efficient Remodeling Projects for 2008
by Dena Kouremetis

PATH (The Partnership for Advancing Technology in Housing) recently released its annual recommendations on
the top remodeling technologies to make existing homes more durable, stronger and more resource efficient.

The top 10 technologies include:

1. Air Sealing: which include non-fiberglass batts, sprayed foam insulation, and sprayed fiber insulation are
recommended because they improve the thermal resistance of exterior walls.

2. Smartvent Ventilation: This new mechanical ventilator system measures the moisture content of outdoor and
crawlspace air and only provides ventilation when the outdoor air is drier than crawlspace air.

3. HVAC Sizing (Heating, Ventilation and Air Conditioning): estimating heating and air conditioning loads more
accurately so properly sized HVAC systems are installed to ensure energy efficiency.

4. High Efficiency Toilets: Designed for water conservation, high efficiency toilets have been defined by the
plumbing industry and the EPA as those that use an average of 20% less water per flush than the industry standard
of 1.6 gallons. A high efficiency unit toilet can save up to 8,760 gallons of water each year for a family of four.

5. Compact Fluorescent Lighting: Compact fluorescent lamps (CFL), are simply miniature versions of full-size
fluorescent lights, but four times more efficient and last up to 10 times longer than incandescent bulbs.

6. High Performance Windows: Window technology has evolved over the years to the point where windows can
be selected not only for their aesthetic qualities, but also for their performance abilities.

7. Wireless Lighting and Thermostats: These controls can be set on timers or using a variety of sensors with
wireless systems to increase home efficiency without sacrificing home owner comfort.

8. Solar Hot Water: Solar water heaters come in a variety of configurations but each differs in design, cost,
performance and level of complexity. Most systems have back-up water heating such as electricity or gas.

9. Recycled/Renewable Flooring: The two types of environmentally-conscious flooring that lead the market are
recycled flooring from old structures and renewable flooring from fast-growing trees, such as bamboo.

10. Tubular Skylights: Tubular skylights use the sun for lighting interiors without the drawbacks associated with
conventional skylights. They are generally easier to install than typical skylights and, from the home's interior,
resemble conventional lighting fixtures.

For more information, visit the PATH website at pathnet.org.

Published: April 30, 2008


Remodelers Can Help Homeowners Get Year-Round Sustainability
by Peter L. Mosca

April 22 is Earth Day, when the national discussion -- media reports, water cooler and online chats, and political
speeches -- turns to the environment and the growing acceptance of the world's population to the many
advantages of green living. The National Association of the Remodeling Industry (NARI) wants homeowners to
know they can secure eco-friendly solutions year-round from a professional remodeler.

"If you had to put it in a nutshell, the biggest trend we're seeing is sustainable design," says Stewart Davis, AIA,
design director for CG & S Design-Build in Austin, Texas, a NARI member. "We're still doing nice kitchens and
baths, but people want to do these projects as green as possible -- and within their budget."

According to NARI, remodelers can help a homeowner decrease energy costs, alleviate health concerns and
reduce the consumption of natural resources in the following areas:

Efficient Heating & Cooling New insulation technologies, such as spray-in cellulose insulation, is made from 80
percent post-consumer recycled newspaper and will effectively seal homes from harsh heat and cold. Thermal
solar energy is a non-polluting energy source that is easily captured and used for water and space heating.
Although solar water heaters can be expensive ($1,000-$4,000), they can show paybacks of four to eight years,
according to Austin Energy. Space heating systems can vary from $800 for wall heaters to $4,000 and more for
large central systems.

Reducing Water Consumption Selecting the right appliances, such as water-conserving washers, dryers and
dishwashers, and installing low-flush toilets and showerheads can reduce the amount of water needed and help
trim water bills. NARI notes that approximately 8,000 gallons of water per household each year are lost while
waiting for hot water to come from the tap. "Simply positioning the water heater as close as possible to the points
of use for hot water can help conserve this valuable resource."

Healthy Indoor Air Modern building materials, such as construction adhesives, paints and treated woods, can have
toxic VOCs (Volatile Organic Compounds) that adversely affect sensitivities to indoor airborne irritants.
Remodelers use air filters and new, non-toxic materials that improve the overall health of a home.

Sustainable Materials "Green" surfaces, such as reclaimed hardwood, bamboo flooring and recycled glass
countertops leave a lighter footprint on the environment, plus remodelers reduce the environmental impact by
choosing materials made from local or regional sources.

Quality Over Quantity Homeowners willing to opt for slightly smaller homes in exchange for smarter planning and
design look to multifunctional spaces, such as a home office, that can double as a guest bedroom," Davis says. "In
areas with small lots, every square foot needs to count and remodelers and architects can help design spaces that
do that." Recycle Construction Waste Eco-conscious remodelers recycle as much project waste as possible
during a home renovation project. For example, Texas-based CG &S Design-Build, winners of five regional
NARI Contractor of the Year Awards in 2008 and member of the City of Austin's award-winning Green Building
Program, brings four waste containers to a project site -- for paper, metal, wood and concrete -- in an effort to
recycle more efficiently. "We are very aware that so much waste is traditionally put in a landfill and we are trying
reduce that as much as we can," said Stewart Davis, AIA, design director for CG & S.

[Note: The National Association of the Remodeling Industry, with more than 7,700 member companies
nationwide, is "The Voice of the Remodeling Industry™." To locate a local remodeling professional, visit NARI's
Web site at www.RemodelToday.com.]

Published: April 14, 2008

Daily Real Estate News | June 24, 2008

Interest Rates Are Likely to Hold Steady
The Federal Reserve, which opens a two-day meeting today, is expected to leave its key interest rate unchanged
at 2 percent when it wraps up the session on Wednesday.

Mortgage rates are somewhat affected by this short-term rate, but are more closely tied to long-term U.S.
Treasury rates and other concerns. Recent increases in mortgage rates have slowed the problem-plagued housing
market and fueled inflation.

So what's the Fed to do?

"Tread lightly on rates and carry a big rhetorical anti-inflation stick," says Ken Mayland, president of ClearView
Economics.

Economists predict the Fed's policy statement, expected to be released Wednesday, probably will highlight
inflation risks but won't go as far as to signal a rate increase at the Fed's next meeting Aug. 5.

Source: The Associated Press (06/24/2008)

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The following article would lead one to believe inventory (number of homes on the market) may be on its way
down, at least in this age demographic. A good thing for most markets. Read on...
- Duane

June 17, 2008
Real Trends Email Updates - Realtrends.com

Boomers plan to stay in current homes
The formerly vibrant new-home buyer market of empty-nesters has decided instead to feather their current nests.
According to a survey released today by AARP (formerly American Association of Retired Persons), nearly
one-third of middle-aged and older Americans say they are making changes to their current homes so that they
can live in those homes for longer rather than buy a new house or downsize to an apartment.

"Contrary to general thought, AARP's survey indicates that Americans who are 45-plus are not looking to
downsize or leave their current homes as they prepare for or enter retirement," said Elinor Ginzler, AARP senior
vice president for livable communities. "They are literally fixing to stay, improving their homes in order to stay
there longer and largely overlooking the drop in home values. Call it cocooning or nesting, boomers and their
parents are digging in and staying put.”

Unlike many other Americans, though, this group does not appear to be worried about losing their homes. But
they are fretting about the effects of the housing slump and foreclosure crisis on their neighborhoods (64 percent)
and the U.S. economy (89 percent). A top concern: the risk of crime in areas with high numbers of foreclosed
homes, which was on the minds of 69 percent of respondents.