Wednesday, August 31, 2011

Time For A Road Trip! Where is Chevy Chase?

Kitschiest Roadside Attractions in America

Sometimes the journey is the destination, as our kitschy roadside attractions prove.

By Jessica Su
The landscape blurs as you drive Interstate 80 straight through Nebraska. Then suddenly you do a double take. Right in front of you is an old-timey Western trading post, sitting in the shadow of a 30-foot-tall cutout of Buffalo Bill.

It just wouldn’t be a great American road trip without kitschy roadside attractions like the Fort Cody Trading Post in North Platte. Some of the earliest got their start in the 1920s, when the birth of the U.S. highway system set off a building boom. Drivers had to stop to refuel or rest, after all, and enterprising businessmen were eager to dream up attractions that would meet their needs and liven up life on the road.

“A big part of roadside attractions is making the biggest whatever. People take this really seriously,” says Mark Sedenquist, who founded RoadTrip America with his wife, Megan Edwards. After they lost their home in a 1993 wildfire, they embarked on an epic drive that lasted more than six years and inspired their chronicles of roadside attractions.

And there’s always a souvenir to take home. Doug Kirby remembers being so fascinated by the petrified wood he got at Wall Drug as a boy that he lugged it around for his entire vacation. As an adult, he founded the website Roadside America, which covers more than 9,000 oddball attractions.

“Some people visit these places to make fun of them,” admits Kirby, “but you know you like them deep down.”

Skunk-Ape Research Center, Ochopee, FL


Conspiracy theorists are welcome at the world’s only skunk-ape research center, dedicated to the Everglades’ version of Bigfoot. Reportedly measuring six feet tall, these elusive bipeds reek of rotten eggs. Owner Dave Shealy, who has studied the creatures nearly his entire life, sells DVDs, camouflage hats, and tracking guides. While Shealy says the government prohibits him from leading tours in the surrounding Big Cypress National Preserve, he will point visitors to the general vicinity of the skunk-ape habitat. Don’t miss annual traditions such as Skunktoberfest and the Miss Skunk Ape contest, where women compete to answer questions from Shealy’s guide. This year’s prize was a six-foot-long banana.

Fort Cody Trading Post, North Platte, NE


Nebraska’s largest souvenir and Western gift shop is dedicated to “Buffalo Bill” Cody, who slayed 4,280 buffalo from 1867 to 1868. The store is connected to a free Old West Museum, which features a two-headed calf from the 1940s and a miniature replica of Buffalo Bill’s traveling circus show—a couple whittled 20,000 pieces for the replica over 12 years. But perhaps the strangest sight is the customers: it’s not unusual to see adults donning headdresses and dancing around the store, beating drums and waving around toy tomahawks. Many are repeat visitors. As co-owner Leigh Henline says, “A person will burst through the door, take a deep breath, and announce, ‘Yes, it still smells like I remember it as a kid!’”

Da Yoopers Tourist Trap, Ishpeming, MI


For the uninitiated, a Yooper is someone who lives in Michigan’s Upper Peninsula (the U.P.), which is covered in snow nearly half the year. Da Yoopers Tourist Trap is a celebration of hinterland innovations, including Big Ernie, the world’s largest working rifle (35 feet and 4,000 pounds) and Da Two-Holer Outhouse. Don’t leave without a tchotchke from the gift shop—everything from bullet-hole stickers (which promise to “impress the babes”) to belly-button lint brushes.

Vent Haven Museum, Fort Mitchell, KY


All eyes are on you at the world’s only ventriloquist (“vent” for short) museum, home to more than 750 googly-eyed dummies. Figures are as varied as Miss Piggy and a carved head that a POW performed with to earn extra food. Founder William Shakespeare Berger purchased the very first figure, Tommy Baloney, in 1910. When he died, he donated his collection and property to create the museum. It’s open by appointment only, May through September, so this is one roadside stop that requires a little advance planning.

Mitchell Corn Palace, Mitchell, SD


Established in 1892 and existing at its current location since 1921, this showstopper—the only building of its kind—celebrates the harvest of king corn. The building exterior is redecorated annually with 275,000 ears of colored corn, other grains, and grasses. Themes have included Lewis and Clark; the space age; and historic figures such as Elvis Presley and Martin Luther King, Jr. Drive away with your corn memento of choice: popcorn, Corn Palace puzzles, or corn-cob jelly.

Wall Drug Store, Wall, SD


The anticipation starts long before you arrive at Wall Drug, a Western-themed mall/amusement park near Mount Rushmore and the Badlands. Signs posted throughout the world count down the remaining miles to go; there’s even a sign for Wall Drug posted in Antarctica (for the record, only about 9,300 miles away). Wall Drug started as a humble pharmacy that doled out free ice water to weary travelers. Today, 2.2 million people a year pull over to ogle at the animatronic T. rex and see the animated Chuck Wagon Quartet (one of the figures resembles Ronald Reagan); chuckle at a piano-playing, singing gorilla; and sit atop a giant jackalope statue. And yes, the ice water’s still free.

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Not Exactly Abe's Style of Log Cabin!

Living Large In Ritzy Log Cabins

By Colleen Kane , CNBC.com
August 25, 2011

The log cabin is embedded in the national consciousness as an old-time icon of simple, wholesome American living. Abraham Lincoln grew up in a log cabin, by gum, and look at what he made of himself!
However, as with every other aspect of American culture, today’s log cabin has been supersized. The structures that follow in this slideshow are a long way from Lincoln's logs. Log cabins have gone from inspirational to aspirational. Whereas it was once incongruous to link the phrase “million dollar” to “log cabins,” it’s now quite the norm for a log home’s price to rise into seven figures and beyond.
What can a log cabin offer to command such prices? They’re cabins in name only. They offer the same amenities and features every other modern home offers — the chef's kitchens, the hot tubs, the walk-in showers, the square footage — only rustic and with logs. These structures can serve as summer and winter vacation lodges for those who can afford such luxuries, but they’re also quite well supplied to function as year-round homes.
See slideshow: Luxurious Log Cabins
Slideshow: Luxurious log cabins

So dust off your antler chandelier and taxidermied critters and indulge in some cabin fever. Click through to see these contemporary and traditional log homes for sale, some for eight figures.
Coeur D’Alene, ID
Location: 411 S. Coach Ln.
Price: $10.5 million
Beds/Baths: 4/10
Square feet: 11,174
The windows of the great room offer an unhindered vista of the Spokane River.
Photo: Realtor.com
With its recurring use of vertical tree trunks as support beams, this mansion has the feeling of living under the canopy of an enchanted wood, or at least a resort or casino version of one. The floor-to-vaulted-ceiling windows of the great room offer an unhindered vista of the Spokane River. There’s a media room, a game room with a bar, and if the formal dining room is too formal, try the informal dining room instead.

Park City, UT
Location: 5000 Royal St.
Price: $49.5 million
Beds/Baths: 12/16
Square feet: 20,000
This massive cabin has a castle-length dining-room table.
Photo: Realtor.com
In case you skimmed past the statistics above, you might want to go back and read them. This is not so much a luxurious log cabin as a rustic private resort for one family and their closest several dozen friends. Features include a gym, indoor pool and hot tub with views, game room with views, decks with sunset mountain views, a garage for 20 cars, and a castle-length dining-room table.

Charlevoix, MI
Location: 8633 Atwood Rd.
Price: $2.5 million
Beds/Baths: 6/5
Square feet: 4,600
The cabin has an acreage of 320.
Photo: Realtor.com
Behold, the Norway red pine log cabin known as Moblo! It’s located less than three miles from Lake Michigan, but it’s directly on the spring-fed private Lake Charlevoix. The 15-year-old house is traditional, yet offers a mix of the old and the modern: four master suites, indoor and outdoor fireplaces, a children’s bunk bed room, a gourmet kitchen with granite counters, and the all-important antler chandeliers. Plentiful windows and a wrap-around porch allow lucky residents and visitors to take in the enormous expanse of 320 acres.

Crested Butte, CO
Location: 188 Bethel Rd.
Price: $4.75 million
Beds/Baths: 7/9
Square feet: 9,147
The cabin blends modern with rustic.
Photo: Realtor.com
This custom log home in the mining-turned-ski town of Crested Butte has views of Long Lake. It’s just six years old so it's quite up to date, with a modern kitchen and long breakfast bar, the soaking tubs and walk-in showers, and it’s scaled to today’s standards as evidenced by the 15 x 20-foot master bedroom. Yet, the heavy exposed timber beams and other aspects evoke a long-established historic structure.

Richfield, OH
Location: 3827 Deer Run Oval
Price: $5.4 million
Beds/Baths: 5/8
Square feet: 19,360
The 30-foot waterfall and bear cave are listed on the National Register of Historic Places.
Photo: Realtor.com
Although this log mansion has a contemporary profile and is just 11 years old, it’s built from Engelmann spruce timbers reclaimed from forest fires, lending it a traditional feel. The rest of the property is not exactly lacking either, with a 30-foot waterfall and bear cave that are listed on the National Register of Historic Places, a 3.5-acre spring-fed stocked lake, a horse-riding ring, a children’s log cabin playhouse with electricity, plus a 1,950-square-foot lofted barn including two cooler rooms.

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Is He Even Old Enough To Drive?

Justin Bieber's $187,000 Ferrari Struck by $16,000 Honda

Posted Wed Aug 31, 2011 8:25am PDT by Caryn Ganz in Amplifier
Yesterday at approximately 12 p.m. PT, a driver in a Honda Civic dared to brush up against the pricey Ferrari driven by 17-year-old pop star Justin Bieber in the San Fernando Valley. Los Angeles Police Officer Gregory Baek http://news.yahoo.com/s/ap/20110831/ap_en_mu/us_people_justin_bieber" target="blank">told the AP the accident was a "very minor collision," and sources confirmed to TMZ the Honda merely "tapped" the rear left side of the vehicle piloted by Bieber -- evidently when its driver tried to get around Bieber's ride in an underground parking garage, as E! reports. There was no visible damage to either vehicle, no injuries, and authorities who arrived to check out the scene didn't even bother to file a report. Case closed!
Except this is Justin Bieber we're talking about here -- a pop star who can't go to a mall or promote his fragrance Someday at Macy's without major incident. Bieber has escaped harm in all such incidents, and the Honda owner is probably heaving a sigh of relief today that this snafu had a similar conclusion. The Civic (current base list price: $15,805) didn't even ding the Ferrari F430 (most recent base list price: $186,925). Bieber was first spotted in the matte black Ferrari F430 last year. The car's standard features include a 32-valve engine, panic alarm (which might come in handy if you're a a teen heartthrob), and the ability to fill "every pleasure receptor in your brain with automotive giddiness." Its top speed: 200 mph.
You can't totally blame the teen star for wanting a toy (albeit one that costs nearly three times the median income of a family of four): In the past few months alone he's been egged onstage in Australia, had his music videos yanked from YouTube by a hacker, and learned his Vanity Fair cover bombed at the newsstand. There's even been a bit of a Justin Bieber crime wave in the air -- a man was recently busted for stealing a cardboard cut-out of the pop star from a Florida mall, and a ceremonial Justin Bieber Way street sign was swiped in Texas.
For a glimpse of how this latest incident could have gone awry, check out Yahoo!'s report on an insane accident (a million-dollar fender bender!) involving the very same vehicle Bieber was driving in July. And here's what Bieber's fancy ride looks like:
See Also:

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Anyone For Seconds?

The 1,690 calorie mac n' cheeseburger: delicious or disgusting?



(photo: Denny's)
(photo: Denny's)
Denny's dastardly minds have done it again. The restaurant chain that fries mozzarella sticks between pieces of bread, have rolled out more gluttonously cheesy menu items.  

The most notable is the Mac n' Cheese Big Daddy Patty Melt: A burger patty layered with slices of cheese, macaroni and cheese, another layer of cheese, some kind of tomato-based "frisco" sauce and two pieces of buttered-up potato bread. Still hungry? It comes with a side of fries. 

The 1,690 calorie count makes a lot more sense when you consider the sandwich is breakfast, lunch and dinner stacked on top of each other. It makes absolutely zero sense when you consider that it's got 500 more calories than a Carl's Jr. burger with fries, and large coke. It's about three times the calories of a KFC Double Down sandwich. And about 200 calories more than five (count 'em, five) Boston Market Mac and Cheese sides. 

That's without the super-size cheese option. Seriously, if your melt isn't ooze-y enough, you can pay Denny's 69 cents extra for more cheese. A better use of that 69 cents: pay the guy in the next booth to be your sober cheese counselor.

Denny's joined Burger King and more than a dozen chains on a health initiative recently, offering more veggie and fruit options for kids. Adults? They can go to you know where...by way of the cheese menu. Direct quote from the company's press release: “With America consuming around 8.8 billion pounds of cheese annually, Denny’s is answering to the appetites of the nation by introducing a dedicated menu that celebrates all things cheesy." Other items on their new cheese menu include a strawberry cheesecake milkshake and a cheese-filled omelette drizzled in cheese sauce.

But nothing outdoes the cheese pasta/cheeseburger/buttered toast combo, both in calories and in creativity. Be honest, on the gross food scale, does the Mac and Cheese melt look deliciously gross, curiously gross, or just plain gross?

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Why Do Most of The Atheletes Today Suck?

They make millions and forget their roots... this guy is a real piece of work!

Such a tease: Albert Pujols taunts, denies Brewers fan a souvenir

Such a tease: Albert Pujols taunts, denies Brewers fan a souvenir

No matter if he's killing the Milwaukee Brewers with another home run, or flashing his Gold Glove at first base, St. Louis Cardinals slugger Albert Pujols(notes) hasn't made a lot of friends at Miller Park over the past decade.
And it's safe to say one particular action during the Cardinals' 2-1 victory on Tuesday night did little to improve his standing among Cheeseheads.
It happened with the Brewers hitting in the second. With one out and no runners on base, Yuniesky Betancourt(notes) hit a pop foul down the first-base line that drifted toward the stands. Pujols pursued it immediately and tracked the ball about 30 yards before making a difficult-looking over-the-shoulder catch.
Honestly, the play itself would have been noteworthy. But then, when Pujols stopped his momentum, he locked eyes with a gentleman standing along the railing with his arms extended. Pujols approached the fan, stuck out his glove in what appeared to be an invitation to take the ball, and then snatched it away and returned the ball to the infield.
The Machine giveth ... and the Machine taketh away! So, how did the fans like this Albert Moment?
The tease drew a chorus of boos from most fans, but come on folks, it's not like Pujols tricked a little kid. It's a grown man appearing to beg for a baseball that he fooled. It's actually pretty funny. And, if you look close, you can see the slightest grin start to come over Albert's face. There's a wicked sense of humor buried under those circuits and gears.
Such a tease: Albert Pujols taunts, denies Brewers fan a souvenir

Oh, look at the guy's face. That's actually really funny!
Well played, Albert.

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Wrong and BAD Call by the Refs!

Players penalized for TD tribute to recently departed friend

Touchdown celebrations are as much a part of high school football as wing-T formations and unexpected upsets. Yet, just as they do in the NFL and NCAA, some celebrations do occasionally cross the line into insult, rightfully earning excessive celebration penalties as a result.
That certainly didn't seem to be the case on Friday, when two Louisville (Ohio) High football players celebrated what appeared to be a game-winning touchdown against Cleveland (Ohio) Walsh Jesuit High with just 1:15 remaining in the game with a testament to a late friend who had passed away just days before the season-opening game. Unfortunately, referees felt differently and penalized Louisville for excessive celebration, setting the stage for a game-winning field goal for Walsh Jesuit as time ran out. You can see video footage of the pointed celebration directly below.
That's when a flag flew in from an official, citing excessive celebration because the players' heavenward point was considered an action that drew attention to themselves. Despite Louisville coach John DeMarco's protestations, the penalty stood, as did the narrow, 26-24 lead following a missed two-point conversion.
The penalty pushed back the ensuing kickoff 15 yards, and Walsh Jesuit returned the boot all the way to the Louisville 29-yard line. Less than a minute-and-a-half of official time later, Walsh Jesuit was celebrating a come-from-behind, season-opening 27-26 win while Louisville was bemoaning a misinterpreted honor for a friend.
As the AP reported, Ohio High School Athletic Association assistant commissioner Henry Zaborniak said that the game officials responsible for the call were actually correct in penalizing the tribute, as it could be considered offensive to the other team without first knowing the context of the gesture. Perhaps more surprisingly, Louisville athletic director Rich Venuto agreed with the officials' decision, as he told Fox 8.
Still, Louisville fans and football parents are still in an uproar over the perceived slight, or lack of flexibility shown by officials in a season-opening football clash for both schools.
"[It was just] a simple gesture to heaven," Ann Miller, the grandmother of a Louisville player, told the AP.

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Monday, August 22, 2011

HUD extends higher conforming loan limit for reverse mortgages

  

HUD extends higher conforming loan limit for reverse mortgages

by JON PRIOR Housingwire.com
Friday, August 19th, 2011, 5:12 pm

The Federal Housing Administration conforming loan limit on forward mortgages is set to drop in October but not so for reverse mortgages.
The Department of Housing and Urban Development will extend the $625,500 maximum loan amount for a reverse or Home Equity Conversion Mortgage through Dec. 31, 2011 according to a lender letter sent Friday.
HECMs allow the borrower, who must be at least 62 years old, to convert a portion of the equity in the home for cash. Lenders do not require repayment until the borrower no longer uses the home as a principal residence, often in the event of death.
The limit is 150% above the cap set by Freddie Mac. It is the maximum loan amount FHA will insure.
HUD sent the letter out Friday, alerting lenders to the pending drop for forward mortgages to $625,500 from $729,750 in the most expensive neighborhoods. In areas where 115% of the median house price exceeds the current conforming loan limit, it will go unchanged in October. Congress pushed the limits for FHA, Fannie Mae and Freddie Mac up in 2008 to keep the mortgage market liquid through the financial crisis.
One bill was introduced in the House of Representatives andanother in the Senate to extend all of the conforming loan limits for another two years, though these bills have yet to reach committee.
The extended loan limits for reverse mortgages applies to all HECMs made in the U.S., including Hawaii, Alaska, Guam and the U.S. Virgin Islands.
Peter Bell, president of the National Reverse Mortgage Lenders Association said he hoped HUD and Congress would extend the higher loan limits beyond 2011.
"We're glad to see that HUD has taken this interim step," Bell said. "It helps eliminate uncertainty for seniors in the process of getting or contemplating a reverse mortgage and takes pressure off of counseling agencies with clients who want to be counseled in time to take advantage of current loan limits."

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Saturday, August 20, 2011

5 Places to Live Like the Wealthy for Less

5 Places to Live Like the Wealthy for Less

By Jason Notte 07/12/11 - 07:00 AM EDT 

NEW YORK (TheStreet) -- Real estate's Champagne wishes and caviar dreams are waking to a stingy, jobless reality of metropolitan moochers posing as the wealthy.

"Even with recent economic softness, this is a disappointing performance with home sales being held back by overly restrictive loan underwriting standards," says Lawrence Yun, chief economist for the National Association of Realtors. "There's been a pendulum swing from very loose standards, which led to the housing boom, to unnecessarily restrictive practices as an overreaction to the housing correction."
But why break your back paying close to seven figures for a closet in one of the most expensive neighborhoods in the U.S. when there's cheaper property nearby? The zip code's cache is nice and all, but even television and Hollywood helped America realize that Alan Arkin's family in Slums of Beverly Hills could get by on the fringes and that Gabrielle Carteris' Andrea Zuckerman character didn't have to be born or have parents in Beverly Hills: 90210 to get into fictional West Beverly High School.
TheStreet took a look at five of the tonier neighborhoods in America and found five more on the outskirts that gave residents deep discounts while dropping them directly adjacent to all the stores, restaurants, theaters, museums, parks and other amenities that command premium prices from the rich neighbors:

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5 Super-Expensive Foreclosures For Sale

5 Super-Expensive Foreclosures For Sale

By Jerold Leslie, The Street
August 17, 2011

Million-dollar-and-up homes are the fastest-growing segment of the U.S. foreclosure market, with banks seizing some 335% more such properties last year than they did in 2007.
"We're seeing evidence in our data that the high-end market is starting to get hit more," said Daren Blomquist of foreclosure watcher RealtyTrac.com. "I think high-end homeowners have a little more 'padding' to get through tough times if they experience a job loss or other trouble. But as the tough times continue, more and more of these homeowners are succumbing to foreclosure."
More from The Street

»  5 Places to Live Like the Wealthy for Less

»  10 Most Walkable Cities of 2011

» 8 Ways to Make Every Inch of Property Pay Off

True, RealtyTrac's latest figures show that homes with $1 million or higher mortgages represented just 2.3% of houses in foreclosure during the first 10 months of last year. But that's nearly twice as many such houses as in 2007.
Blomquist suspects more rich people are falling into foreclosure because they had mortgages they could easily afford in good times, but can no longer cover in today's tough economy.
"No matter how wealthy you are, there's always that potential that you'll lose your job," he said. "Even if you have a very high income, you're always susceptible to not being able to make your mortgage payments."
The good news: Well-heeled house hunters may find they can pick up million-dollar-and-up foreclosures on the cheap. The latest available RealtyTrac figures show foreclosed homes sold for 27% less on average than nonforeclosed properties did during 2011's first quarter.
Here are the five highest-priced U.S. foreclosures listed for sale on Realtor.com:
The Villa Mar Vista Estate, Laguna Beach, CA
For sale: $19.95 million
Bedrooms: Four
Bathrooms: Seven
Square footage: 11,333
Built in: 2010

The estate has a heliport and a view of the nearby Pacific Ocean.
Photo: Engeland Volkers

This newly built estate's listing describes the property as "a sublime junction of privacy, acreage, generous interiors, tasteful design, plentiful outdoor spaces and vast coastal vistas."
Located about an hour south of Los Angeles in tony Laguna Beach, the Contemporary-style home features four bedroom suites, six full bathrooms and one half-bath, an in-home theater, an infinity-edge pool, a spa, a 20-car garage and private heliport.
Craftsman windows and French doors look out over the property's gardens and terraces and out to the Pacific Ocean, which is less than a half-mile away. You're also just a few blocks from the Aliso Creek Golf Course.

The Razor, La Jolla, CA
For sale: $25 million
Bedrooms: Four
Bathrooms: Eight
Square footage: 11,000
Built in: 2007

The oceanside residence has been the site of commercial shoots.
Photo: Hurwitz James Co

You'll have to act fast if you want to buy the Razor residence, because it's going up for auction Sept. 28 if it hasn't sold by then. Bidding will start at $16 million -- cash only, please.
Located on bluffs some 15 miles north of San Diego, the Razor (named after a bluff at the nearby Torrey Pines State Natural Reserve state park) overlooks the Pacific Ocean from just a few hundred feet away.
The 11,000-square-foot Contemporary-style home features four bedrooms, six full bathrooms, two half-baths, two fireplaces, a heated pool, a dog run, an eight-car garage and a two-space carport.
Architectural Digest profiled the house in 2008, while Calvin Klein used it as the backdrop for a TV spot for its new high-end Calvin Klein Collection. Visa also shot a commercial there for its top-of-the-line Visa Black Card.
The house is near the University of California at San Diego, the Salk Institute for Biological Studies, the Del Mar thoroughbred race track and the Torrey Pines Golf Course, site of the 2008 U.S. Open.
"This home is truly one of a kind," listing broker Bob Hurwitz says. "With today's building restrictions, nothing like it could ever possibly be built again in this location."

East Mockingbird Lane, Paradise Valley, AZ
For sale: $17.995 million
Bedrooms: Seven
Bathrooms: Ten
Square footage: 17,015
Built in: 2009

Among the amenities are a robot Elvis and 21-car garage.
Photo: John Hall & Associates

This estate features a main house with five bedrooms, three family rooms, two libraries, a billiard room, a wine room, a piano room and a hidden "panic room." There's also a mahogany in-home theater with a Dolby sound system and 13 seats that move in sync with the screen action. (A talking, singing Elvis Presley robot greets you at the theater's glass entrance booth.)
Other amenities include a two-bedroom guest house, two swimming pools, an on-site solar-power station and a $1.2 million security system. There's climate-controlled garage space for 21 cars -- including a four-car "show garage" outfitted with restored genuine gas pumps from the 1920s and '30s.
Located just outside Phoenix and Scottsdale, Ariz., the estate is a mile or so from the Phoenix Mountains Preserve, the Camelback Golf Club and the McCormick Ranch Golf Course.

The Wyndham Estate, Newport, RI
For sale: $7.9 million
Bedrooms: Seven
Bathrooms: Eight
Square footage: 12,500
Built in: 1891

The Baronial-style mansion looks out toward Martha's Vineyard.
Photo: Gustave White Sotheby's International Realty

Located less than a mile from Newport Harbor on the Atlantic Ocean, the Wyndham Estate combines classic 19th century looks with 21st century updates.
The Baronial-style mansion features seven bedrooms, eight bathrooms, four fireplaces, a ballroom, a music room and a rooftop deck and whirlpool with ocean views out to Martha's Vineyard some 20 miles away. The manicured grounds also host a man-made pond, waterfall and garage space for nine cars.
The Newport Country Club, New York Yacht Club and Ocean Drive State Park are nearby.

Biltmore Estates Drive, Phoenix, AZ
For sale: $6.95 million
Bedrooms: Nine
Bathrooms: Eleven
Square footage: 17,799
Built in: 2002

Country clubs and a golf course lie near the estate.
Photo: Russ Lyon Sotheby's International

Located in Phoenix next to the Arizona Biltmore Golf Course, this 1-acre estate features nine bedrooms, 11 bathrooms, five fireplaces, an in-home theater, library, wine cavern and al fresco patios, balconies and outdoor dining/dancing terraces. The rear courtyard hosts a massive heated pool and an adjacent spa.
In addition to the Arizona Biltmore Golf Course, nearby attractions include the Phoenix Mountains Preserve and Paradise Valley and Arizona country clubs some two miles away.

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Friday, August 19, 2011

Mortgage Rates Reach All-Time Lows Again

Mortgage Rates Reach All-Time Lows Again

Ongoing economic concerns continued to push mortgage rates to new lows, as 30-year and 15-year mortgage rates took another dip, pushing home affordability even higher, Freddie Mac reports in its weekly mortgage market survey. 
30-year fixed-rate mortgages: averaged 4.15 percent this week, dropping from last week’s 4.32 percent average. The previous record low for 30-year rates was set on Nov. 11, 2010, when rates reached 4.17 percent. For comparison sake, in 2000, 30-year mortgage rates averaged more than 8 percent and just five years ago they averaged 6.5 percent.
15-year fixed-rate mortgages: averaged 3.36 percent, dropping from last week’s 3.50 percent. Last year at this time, the 15-year fixed rate averaged 3.90 percent. 
5-year adjustable-rate mortgages: averaged 3.08 percent, dropping from last week’s 3.13 percent. Last year at this time, the 5-year ARM averaged 3.56 percent. 
1-year ARM: averaged 2.86 percent this week, dropping from last week’s 2.89 percent. A year ago, the 1-year ARM averaged 3.53 percent. 
"Not surprising, many home owners took advantage of this low mortgage rate environment and have already refinanced their loans,” says Frank Nothaft, chief economist of Freddie Mac. “The refinance share of applications averaged nearly 70 percent of all mortgage activity in the first half of this year, according to our survey. In addition, an increasing share of refinancing borrowers chose to shorten their loan terms during the second quarter.”
Source: “Mortgage Rates Lowest in Over 50 Years,” Freddie Mac (Aug. 18, 2011)

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Housing Affordability at Highest in 20 Years

What are you waiting for? Buy now!

Housing Affordability at Highest in 20 Years

Housing affordability continued to be near record highs in the second quarter, hovering near its highest level in the 20-plus years it has been recorded, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. 
About 72 percent of all new and existing-homes sold in the second quarter of the year were affordable to families earning the national median income of $64,200, according to the index. The record high remains 74.6 percent, which was reached last quarter. 
"At a time when home ownership is within reach of more households than it has been for more than two decades and interest rates are at historically low levels, the sluggish economy and the extremely tight credit conditions confronting home buyers and builders remain significant obstacles to many potential home sales," says Bob Nielsen, chairman of the National Association of Home Builders. "That said, however, some housing markets across the country have stabilized and are beginning to show signs of a budding recovery."
Most Affordable Housing Markets
According to the index, Youngstown-Warren-Boardman, Ohio-Pa., was the most affordable major housing market during the second quarter with 93.7 percent of all homes sold found to be affordable to households earning the area's median family income of $54,900. Other cities ranking near the top for affordability is: Syracuse, N.Y.; Indianapolis-Carmel, Ind.; Dayton, Ohio; and Lakeland-Winter Haven, Fla.

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Thursday, August 18, 2011

Fw: Power Outage Backup Plan - 8/19 Money Pit e-Newsletter

The Money Pit Home Improvement E-Newsletter
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•The Welcome Mat

This year's hurricane season is a record breaker - but that's a good thing. We've made it to the letter "G" without a named tropical storm reaching hurricane status. However, the second half of the season, which run through November, is usually more active. Even if you do not live in a hurricane prone area, storms can knock power out in the blink of an eye. With the right backup power, by the time you DO blink, power will be restored. You can do-it-yourself, but you don't have to do it alone.

•This Issue

Power Outage: Have a Backup Plan

Late August is just about the middle of hurricane season. The latter half of the season tends to be more active. Hurricanes can cause serious damage this time of year, but at any time of the year, in any part of the country, severe weather can knock out power to your home. Losing power for days, weeks or even longer can be costly, inconvenient and dangerous. The best protection for homeowners against these unforeseen power outages is a standby generator. read more

Prize Winning Lightbulb Ready for Consumers

With the expected phase out of incandescent bulbs beginning with the 100 watt bulb at the end of this year, competition is hot for a new wave of energy efficient light bulbs that delivers the shine without the ka-ching of high energy bills. And a competition with a 10 million dollar prize is exactly what the Department of Energy (DOE) launched to spur the innovation needed to make sure light bulb manufacturers were ready for the challenge. read more

Add-on Door Blinds Offer Safety and Convenience

If you have a back door or patio door with a full or half window, you have a great way to see what’s happening on the other side of it. But without blinds or another type of window covering, you also are subjected to heat, sun and prying eyes, not to mention safety hazards. Add-on door glass blinds from ODL take care of all of those problems and then some. read more

Ask Tom & Leslie: Use a Router Safely and Properly

I was all excited to build some book shelves for my daughter's room. But the step-by-step directions I found, include using a power tool called a router. This sounds serious! I don't know exactly what that is and why I should use one. Can you help? read more

ON THE AIR: Get Rid of Smelly Disposer Odors

Find out how to get rid of foul odors coming from your kitchen garbage disposer. Learn why you are not the only one that sweats in the summer… your toilet tank can also seem to be sweating. Find out what causes the condensation and how to control it. Plus find out which projects you can DIY with your kids to take away summer boredom and help teach home improvement skills that will last them a lifetime. Plus get answers to your home improvement questions about, removing lead paint, barriers for crawl spaces, attic installation, stripping paint, fixing cracks in a concrete patio, correcting cracked foundation. read more

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