 |
| Rooftop Views |
ArchivesSeptember 2006Something's rotten in DenmarkDo you have wood rot? Would you know wood rot if you had it?
Wood rot is caused by moisture coming in contact with wood. This usually happens on the outside of the house where paint has worn away or where wood is in contact with soil. Wood immersed in water typically doesn't have wood rot, it's the wood that is in semi-wet areas where the fungi start to grow. It takes a while for rot to appear, but it can spread quickly once it does. The wood rot fungi can grow out to 25 feet - through masonary walls - to get the moisture it requires.
In the Denver area most wood rot is caused due to improper drainage. Just through the passage of time most soils will tend to slope toward the foundation rather than away from it. This allow the moisture to come in contact with wood on decks, porches and siding which allows the wood rot to begin to grow.
So what to do if you have wood rot? Just painting will not do the trick. First the source of the moisture must be fixed. That usually means adding soil and landscaping so that moisture will drain away from the foundation. Next the wood that is already affected must be removed and replaced. Once it is replaced, a good paint job will deter anymore little fungi.
It's always a good idea to inspect your foundation, porches and decks annually for signs of rot. It's much cheaper to repair and replace wood rot in the early stages. 8:56 AM - Sep. 29, 2006 - comments {0} - post commentAre you a workaholic?Are you one of those people who seem to thrive on all those overtime hours? Do you think your job will disappear if you don't work nights and weekends? You may only be kidding yourself.
According to Workaholics Anonymous, you may be a workaholic if
You get more excited about your work than about family or anything else? There are three major downside to becoming a workaholic:
1) leisure deficit, 2) health risks, and 3) relationship losses.
Compare the American way of work to Europe. Most countries in Europe mandate that employers give 6 weeks of vacation each year. And most employees tend to take it. They have realized that time with family is more important that any job.
So what can you do to avoid these issues?
1:43 PM - Sep. 27, 2006 - comments {0} - post commentAnother mortgage viewA reader of our blog, Brent Ritzel, is an independent mortgage broker who owns Source Financial LLC He has another point of view regarding adjustable rate mortgages and the foreclosure issues we are currently facing. He wrote us an email enclosing an article he wrote to The Denver Post newspaper in rebuttal to one of their articles. We reproduce it here with his permission. Although long, we encourage you to read it and consider the points he makes.
I wrote an extended response to The Sunday Denver Post's lead article from September 17, 2006 entitled "No Money Down: A High-Risk Gamble" [ As an independent Mortgage Broker that owns my own company, Source Financial LLC, in addition to being affiliated with a larger mortgage company that handles the processing and servicing of my loans, Lion Financial Corporation, I read the lead article "No Money Down: A High-Risk Gamble" with great interest.
Knowing that a lot of folks along the Front Range turn to the Denver Post as an objective source for information, I was shocked and dismayed by much of the information and conclusions that were put forth on a topic that already invokes a fight or flight response among many home owners.
100% financing loans have been an amazing tool that has greatly contributed to the 5% increase over the last twenty years in percentage of homes occupied by the owner. But it is not the lack of equity that is putting these borrowers into jeopardy, it is a lack of a flexible asset base to deal with changes that has been increasing the risk of these folks defaulting. In general, people that utilize 100% financing for home purchases usually are lacking the liquid assets, emergency funds, and overall wiggle room to deal with financial hardship.
Of course lenders usually have guidelines concerning liquid asset reserves that must be held by the borrower in order to qualify for a loan, but often they only require enough to cover two to four months of mortgage payments. When people do face catastrophic events rightfully referenced by the Denver Post, "job loss, medical problems and divorce," those reserves can often quickly disappear.
But having equity in one's home when faced with these situations does not "give homeowners options when they face financial problems," because it is precisely when folks are facing such dilemmas that they are quite often unable to qualify for refinancing, as at that point in time they are too high risk of a borrower for lenders to work with. As a Mortgage Broker I am deeply disturbed by this fact, but unfortunately it is a reality that we all must face when dealing with banks and lenders.
And probably the most misunderstood aspect of homeownership is the fact that equity is a ZERO PERCENT RETURN INVESTMENT. Yet two-thirds of Americans hold the majority of their wealth in home equity, which is a non-liquid asset that gives them absolutely zero return. Many people confuse appreciation, which is the increase in home value due to market trends, with getting some kind of return on their equity, but that is a common misconception. That is why it is so important for homeowners to separate their equity from their home via refinancing, and put those "cashed out" funds into investment vehicles that offer an actual rate of return. In doing so, homeowners increase their overall liquidity, improve their capacity to face emergencies, reduce their financial risk, increase their rate of return, improve their tax deductions, and diversify their investment portfolio.
Instead of spending their liquid asset base (savings) to finish their basement and send money to their parents, such as in the case of Jose Garcia and Maria Vanderhorst, borrowers with 100% financing have to exercise greater financial discipline. And putting money down and getting into a 30-year fixed would not have improved their situation, as then their down payment would be tied up as equity, which is a non-liquid asset, money that can only be accessed through refinancing or by selling their home.
100% finanacing loans are not dangerous, what is dangerous is borrowers not having a liquid asset base to deal with life's contingencies. Unfortunately, these are the type of borrowers that tend towards 100% financing, as it really is their only option for home ownership. And tying up their wealth in the straightjacket known as equity is not part of the solution, it is part of the problem. An incredible means to access equity for the purpose of greater fiscal flexbility and all the other goods mentioned above, or "cashing out equity as one goes," is the Option-ARM loan, which received quite a misguided slamming in the Denver Post article.
The Payment Option Loan gives the borrower four different payment options each and every month: they can make an Interest Only, 30-Year amortized, or 15-Year amortized payment based upon the fully indexed interest rate, or they can make the minimum payment that is based upon a very low "start rate" (usually between 1% and 4%), which involves deferring interest (a.k.a. negative amortization), or adding the difference between the Interest Only payment and the minimum payment onto the principal of the loan. Now while most lenders offer the Payment Option Loan with an adjustable fully indexed rate, one that starts adjusting as early as the first month, some lenders offer the Payment Option Loan with a fixed interest rate for the first five years.
The Payment Option Loan has proven to be a favorite of Real Estate Investors and Real Estate Agents, as it frees up extra cash flow on a monthly basis for much greater investment opportunities. Knowing that equity is a zero percent return investment is some powerful information to have.
The annecdote concerning Louis and India Harts conflated the fixed "start rate" with the adjustable "fully indexed rate", such that readers were left with the impression that the Harts' interest rate went from 2.6% to 8.1%. The start rate, which determines how much the minimum payment will be, is not a "teaser rate" that "quickly shoots up". Some lenders do gradually increase the minimum payment itself (not its determining start rate) on an annual basis, usually somwhere in the range of 7.5% per year, to keep the borrower from deferring too much interest. But the start rates is always otherwise a fixed rate. It is the fully indexed rate, upon which the Interest Only, 30-Year amortized, or 15-Year amortized payments are based, that is adjustable is this case. And this fact is consistent with the numbers quoted in the article:
the minimum payment of $919 the Harts are making would be the combination of $721 (2.6% start rate on a $180,000 loan) and $198 of escrowed Property Taxes and Hazard Insurance, which is approximately what they would be for such a home. In the Harts' particular case, they are going to have plenty of time to refinance before their loan starts to recast when the principal hits 115% (which would be $207,000 in their situation), as they will be well below that total when their three year prepayment penalty period is up. So the answer to Louis' "I don't know how we're going to do it," is that when those three years are up, they'll refinance and get themselves into a loan that they feel more comfortable with and educated about. Though given their situation, if properly understood the Payment Option Loan really is their best option.
My question is how can mortgage products themselves be blamed for foreclosures? At best the article points towards a correlation, but demonstrating causation surely requires more than offhanded references to what some unnamed experts stated the next wave of defaults "may" come from. Beyond unpredictable catastrophic occurences like job loss and overwhelming medical bills, foreclosures occur because borrowers are getting into loans that they do not understand, and often they do not know that they do not understand the mortgage product. It is the responsibility of the Mortgage Broker to completely explain all the details of any mortgage product to the borrower. But it is also the responsibility of the borrower to be certain that they understand the terms of loan before signing off on it at closing. Vehicles and guns both kill in the range of 35,000 Americans each year, but it is the human misuse due to lack of education, ignorance or simple negligance that creates this reality, much like in the mortgage scenario.
Every different mortgage product serves its purpose, and what works for one borrower will not work for another given the specifics of their situation. To label certain categories of loans as "high-risk gambles" or as leaving "no room for slips" ignores the millions of families that are in these loans and find that they very much work for them. It is also a disservice to consumers to mislead them with such one-sided representations.
The true irony of the lead piece in September 17th Sunday Denver Post is that the conclusion that "Option-ARMs... could fuel a surge in foreclosures in the next few years" is the opposite of what we find is actually going on in the mortgage industry, as Payment Option Loans have proven to have the lowest foreclosure rate of any mortgage product currently on the market. World Savings is a bank that specializes in this product, which they refer to as the Pick-A-Pay Loan, as more than 90% of the loans they outfit borrowers with are of the Option-ARM variety. As a lender they have less than a 1% percent foreclosure rate! But World Savings, along with the independent Mortage Brokers like myself that they work with, take on the responsibility of educating the borrowers as to how to properly and smartly manage this incredibly powerful mortgage product.
A lot of mortgage brokers I know will not touch Payment Option loans, but I believe that is primarily because they are not all that interested in educating the consumer. Why not just throw them into a 30-year fixed APR mortgage? Everyone pretty much knows how that works. But that is also how banks make of the most money off of borrowers! The "list of higher-risk, alternative mortgages" the article refers to are not only not necessarily higher risk (Payment Option loan has the lowest risk, as discussed above), but they also provide the borrower the opportunity to increase their monthly cash flow by lowering their monthly mortgage payments by as much as 40%. In this way consumers are empowered to "become the bank" and grow their own investment portfolio, rather than falling into the trap of handing over their hard earned capital to the banks in the form of a large down payment or paying down principal so that they can have more of a zero percent return investment, equity.
Affiliates of Lion Financial Corporation, like myself through my company Source Financial LLC, do not shy away from the privilege or responsibility of educating our clients how to properly utilize alternative mortgage packages. And why is this? Because when families are taught smart mortgage product and equity management, they learn to utilize their mortgage as a financial tool for building wealth, which easily makes a $500,000 to $1,000,000 difference for the borrower over the next fifteen to twenty years. The affluent have always understood how to leverage their mortgage, pay as little down as possible, and keep very low monthly payments in order to increase cash flow for investment purposes. The American middle class is being transformed by engaging in these very same concepts and increasing their fiscal discipline, and I absolutely would not have it any other way.
Brent Ritzel President/CEO, Source Financial LLC Denver, Colorado, USA An affiliate of Lion Financial Corporation 303-590-8999 Brent.Ritzel@lionfinance.com www.denverpost.com/ci_4347686]. Business Week also recently (September 11, 2006) published a similar fear agenda piece aptly titled "Nightmare Mortgages" [www.businessweek.com/magazine/content/06_37/b4000001.htm].9:47 AM - Sep. 26, 2006 - comments {0} - post commentThe Big "R" WordBank of America does extensive market research regarding home affordability which they publish every quarter.
The latest statistics are for the 2nd quarter of 2006. They estimate that home affordability is more stretched right now than at any time since 1990. For the 2nd quarter of '06 they show the mortgage payment on the median priced home required 23.6% of median household income. That is 4% higher than the average from 1991 thorugh 2005.
By their estimate, mortgage rates would need to fall by almost 2% or the median home price would need to fall by almost 19% to restore affordability to the average level seen from 1991 through 2005. 19% reduction in prices equates to a 1/5 reduction in value.
To us that type of reduction would indicate a Recession....Let's hope it doesn't come to that. 1:35 PM - Sep. 25, 2006 - comments {0} - post commentThe outlook for 2010We saw an article from the Realtors Commercial Alliance which had predictions for 2010 which we found interesting. They quote the following:
The two that caught our eye were the oil consumption and the web-enabled phones access. If world wide oil consumption is going to be up 22% in 7 years (4 years from now) we think we had all better be doing lots more to conserve energy and look for other sources.
And web-enabled phones we think are the communication tool of the future. Already in use by techno geeks (ready anyone under age 25 or so) they have proven to be reliable and very inexpensive. We think this will definitely change the way we communicate - and the way the telecommunications industry functions.
We always say our crystal ball is broken. We wonder how many of these predictions will come true. 12:49 AM - Sep. 23, 2006 - comments {0} - post commentCommercial markets strengtheningAll we hear from the residential real estate market these days is doom and gloom. New housing starts are down, inventories are increasing, prices are falling and homes are taking much, much longer to sell.
But the commercial market is starting to turn around. A recent artcle from the National Association of Realtors Commercial Alliance paints a much rosier picture. They indicate rents in all sectors - except retail - are rising and vacancy rates are falling. Large institutional investors - pension funds and life insurance companies - are back in the commercial market in a big way after being absent for the past few years.
Areas of the country where the housing market seems to be hit the hardest are the same areas where the commercial market is taking off. Parts of California, Arizona and New York are seeing office vacancy rates drop and lease rates increase. These same areas - including Florida - are seeing lots of market absorption in industrial leases as well.
Apartment rentals are strong in the areas where the housing market is weakest. People who can't afford housing still have to live somewhere and apartment rentals are reaping the benefit. Because of this, apartment buildings are among the best sellers in the commercial market.
The hospitality market - hotels and motels - is finally starting to show an increase in occupancy for the first time since 9/11. This market may have taken the biggest hit over the past few years but room rates are starting to increase along with occupancy rates.
What does this mean to the average home buyer? Generally, if the commercial market is strong, the housing market will start to feed off of it. If investors are feeling good enough about the economy to put money into non-essential commercial buildings, investments in housing soon follow.
And if you're looking for a good investment, commercial property may be just the type of property you're looking for. 11:00 PM - Sep. 20, 2006 - comments {0} - post commentSoft landing?The president of NAR (National Association of Realtors) spoke before a Congressional committee last week. Included in his predictions were:
Mr. Thomas Stevens, President of NAR, says that this will be a "soft landing" from the high flying markets we have seen in the past few years. He noted that several areas of the country including all the South except Floriday were still experiencing price increases. While areas that had seen recent extreme price inflation, including Florida, California, Arizona, Nevada and Virginia, were seeing a great market slowdown.
While we are not in disagreement with Mr. Stevens about the state of the housing market, we wonder what local Sellers think. In the Denver metro area right now there are 30,000 homes for sale - plus or minus. So if 10% of those won't sell over the next year that means 3000 Sellers who desire to sell their homes are going to be disappointed.
If I were one of those 3000 Sellers I wouldn't necessarily think it was a soft landing. From my perspective it would be a big thud.
9:40 AM - Sep. 19, 2006 - comments {0} - post commentYou CAN retireWe get a weekly e-newsletter from the Motley Fool. For those of you not familiar, this is an organization who advises people on stock and bond investing.
In the last newsletter, they had a question from a couple who want to retire in 10 years - before their retirement plans would begin to pay off. Most of their assets are in real estate - two homes that are paid off plus a 401(k) that needs to be rolled into something and a savings account. Motley Fool advised they should either (a) sell both homes and move into something smaller (b) use one of the homes for rental income and (c) use a reverse mortgage to get income.
Remember the Motley Fool is advising on stocks and bonds - NOT real estate. What they could have advised is to sell one or both homes and invest in income producing real estate. With the amount they would have to invest, they can leverage into some pretty nice income property. Remember you can usually get into income property with 20% or so down. So a $300,000 nest egg can get you into a $1.5M property. That's a nice apartment building or small shopping center.
Then they can roll their 401(k) into a self-directed 401(k) which will let them invest in income producing property as well.
Don't think you need to depend on just stocks or bonds for retirement planning. Real estate has a proven track record returning more than stocks and bonds.
We are working on a new website devoted to just this topic which we hope to have up and running within the next 30 days or so. In the meantime, let us know if you have questions. 1:34 PM - Sep. 17, 2006 - comments {0} - post commentReal Estate IS CyclicalWe hear it over and over again. What is happening to the market? Should I sell or should I wait? Is now a good time to buy?
We recently read remarks where brokers compared the number of homes on the market now to those on the market before the latest price run up. Amazingly, the numbers are pretty much the same. What does that mean?
It means that the market is turning again. Right now the market is steady or declining slightly as compared to the last 3 to 4 years where it was increasing – sometimes at an insane rate. Wait a little while and it will climb again.
In the mean time, Sellers need to get serious if they are going to sell. Pricing is key. Set the price BELOW the current comps if you expect to sell in a reasonable amount of time. And be sure the house is in perfect condition. If that’s not possible, then it may make sense to hold on for a while.
Buyers expect to pay less than in the recent past for a similar home. But in some cases, Sellers just can’t come down in price to meet your expectations. If you want the home, it is reasonable to assume the real estate cycle will come around again in the not too distant future. You may be OK to buy now and wait for the cycle to catch up.
As always, check with a Realtor. They are your best source of knowledge in this market.
1:10 PM - Sep. 15, 2006 - comments {0} - post commentBe Prepared!Being a girl, I was never a Boy Scout. But I knew lots of them. And everyone knows their motto is "Be Prepared." With the recent anniversary of the Katrina disaster and with wild fires raging in the West and earthquakes seeming to be happening more often, all of us should take the motto to heart.
Roger Faris, a Disaster Mitigation Counselor for FEMA, has a website called www.homefree.com where he advises people on how best to be prepared in case of a disaster. Among his many pieces of advice are:
• Home emergencies - be prepared: severe weather or seismic events can cause power outages, fires, gas leaks or other damage to your home. Homeowners can get through these difficult times easier by:
We would urge you to go to Mr. Faris' website and avail yourself of his tips. You can never be too prepared! 5:26 PM - Sep. 13, 2006 - comments {0} - post commentCheck out your ARMIf you are one of the 40% of home buyers who used an Adjustable Rate Mortgage to finance your home purchase in the last few years, you may want to check out the terms of your mortgage.
An Adjustable Rate Mortgage is designed to increase the interest rate, and thus the payment, as interest rates increase each year. Most of them are tied to some index or other. CNBC reported last week that over $1 Trillion in mortgages - that's trillion with a T - are scheduled to adjust in 2007. That means several million homeowners will be affected.
Depending on the index your mortgage is tied to, and the amount it can adjust each year, you could be looking at anywhere from a 50% to 100% increase in your house payment in 2007. If you have a second mortgage - generally known as a HELOC or Home Equity Line of Credit - your interest rate has jumped 4.25% in the past year. On a $50,000 loan that payment has increased $200 per month.
What can you do? Depending on the terms of your loan, you may want to consider refinancing to a 30 year fixed mortgage. Rates right now are as low as they have been in six months. You may be able to refinance and have a lower payment. Or you may be able to refinance and keep the payment approximately the same, but not have to worry about a payment increase in 2007. BE AWARE!! Some ARM's have a pre-payment penalty that can cost you thousands of dollars if they are paid off early. Check your paperwork carefully and if you have questions ask your local mortgage lender or real estate broker.
You owe it to yourself to check out your options. You might just save a bunch of money. 3:49 PM - Sep. 11, 2006 - comments {0} - post commentSeptember 11thOn this sad, sad anniversary, a colleague of ours who lives and works in Manhattan, Sandy Mattingly, writes far more effectively than we can about his thoughts. Please take a minute to read and reflect.
8:10 AM - Sep. 11, 2006 - comments {0} - post commentCheck that curb appealYou know it's true, a house is judged by how the outside looks. The inside could be absolutely perfect, but if the outside needs paint and the lawn needs to be mowed, the overall impression is liable to be bad. We have had buyers who would not go into the house after seeing the outside. Some tips for increasing the curb appeal include:
There is a reason the old saying "you only have one chance to make a first impression" is so true. Make your first impression count. 2:33 PM - Sep. 9, 2006 - comments {0} - post commentWhat is a home warranty and why do you need one.In these days of Sellers just about breaking even or having to bring money to the table, few have the extra funds to fix up their property for sale. Some are having to void the contract because they just can't do anything about the inspection items the buyer wants to have repaired or replaced. In Denver, it is a negotiation between Buyer and Seller as to what, if anything, gets fixed. But the Buyer can walk if there is no agreement on inspection items.
Enter the home warranty. This is basically an insurance policy with a term of 12-13 months. It protects the Buyer in case any of the main components of the home - the furnace, hot water heater or appliances - need repair or replacement during the life of the warranty. If purchased at the time of listing, the protection applies while the Seller still owns the home until it closes.
We recently went on an inspection where the Buyer we represented was very concerned about the age and condition of both the furnace and the hot water heater. She asked that both be replaced. The Seller just did not have the funds to comply. The solution for everyone was a home warranty policy provided by the Seller to the Buyer. So if the furnace or hot water heater should fail during the next year, the warranty company will replace them. We also agreed that the Seller would have these items cleaned and certified - which would also have been a requirement of the warranty company. The Buyer thought this was a good compromise and we are continuing the transaction.
There is one caveat. We have had warranty policies in the past where the appliances were replaced with like appliances. So when the 1980's era refrigerator finally died, the warranty company wanted to replace it with another 1980's era refrigerator. It took much discussion with the warranty company before they decided the thing to do was replace it with a new refrigerator.
The cost of the home warranty varies by company but typically runs between $275 and $350 in the Denver area. We think it's money well spent by the Seller and represents real peace of mind for the Buyer.
2:42 PM - Sep. 7, 2006 - comments {0} - post commentWill you buy it if we throw in the kids?You know the market is slowing down when the words DESPERATE MUST SELL appear in home ads. It's a tough time for sellers. They've been used to double digit price increases and multiple offers over list price for the past few years. It takes time to come down off of that high.
In Denver we haven't had that experience for several years so sellers here have had to get creative. It is not unusual to see generous commissions paid to buyer agents to get them to show properties to their buyer clients. And more sellers are offering incentives like carpet or landscaping allowances. Plus sellers here have become used to seller concessions on almost every sale. The way this works is that the buyer makes an offer on the house and then asks the seller to contribute money towards down payment and/or closing costs. So the offer may be for $100,000 with the seller paying $5000 toward closing costs. Thus the seller nets $95,000 before other sales expenses.
But sometimes even more is necessary. We've seen offers of trips, appliances and big screen TV's. New home builders are offering up to $85,000 in incentives including upgrades, appliances and lot premiums.
The most creative thing we've seen though, is an offer for use of Bronco tickets. Understand, in this town, Bronco tickets are the subject of court hearings during divorces to determine who gets them. They are passed down in wills. To offer use of Bronco tickets means some seller is really desperate. It is going to be tough for sellers to top that one. 2:35 PM - Sep. 5, 2006 - comments {0} - post commentA year laterIt's almost one year since Katrina and the aftermath of broken levees flooded New Orleans. As far away as we are from the tragedy, we still have over 14,000 refugees from that area living in our state.
Although some have decided this is not a bad place and intend to stay, many would love to go home - if only they had a home to go to.
An article over the weekend in The Denver Post indicated many are still on some type of welfare. Most are in free or subsidized housing. Jobs are hard to find. And the weather is just not what they are used to. Last winter was particularly hard on those from New Orleans. Most had never seen snow nor had they experienced the extended cold snaps we had.
The community has really rallied around these folks. They have provided clothing, food and shelter. They have found jobs and schools. Many have opened their homes and pocketbooks to try to assist. We all believe it has been greatly appreciated.
But that doesn't stop them from wanting to go home. Will that ever be possible? 7:33 AM - Sep. 3, 2006 - comments {0} - post commentHousing for those of a "certain age"Once a home owner passes the age of 61 or so, respondents to the Coldwell Banker 2006 Homeownership Survey indicated they would prefer to stay in their current home as opposed to purchasing a new one. Only 34% indicated they would prefer to move into a smaller home or condo.
Baby Boomers are 70% more likely to own a second home or a vacation home than those in the younger generations. Of course, Baby Boomers generally have more disposable income to spend on second homes. Those respondents to this survey who were 42 or older also indicated they preferred a ranch style home. It seems none of us like steps when we get older.
As we age, one of the important issues is housing. How to take care of it. How to make the payments on it (if it isn't paid off already). How to change housing if that is indicated. Certainly family and health issues impact those decisions.
Of course, on the bright side, it indicates we have lived long and well enough to have to make those decisions. 8:15 AM - Sep. 1, 2006 - comments {0} - post comment |
Description Denver real estate news and views, Mile High musings and general thoughts on the state of the state. Home User Profile Archives Email Us Blog Manager Recent Entries - Something's rotten in Denmark - Are you a workaholic? - Another mortgage view - The Big "R" Word - The outlook for 2010  RSS Blog Feed
CategoriesGeneral Real Estate InformationWhat makes Denver great Foreclosures Investing in Real Estate Denver Home Buyers Home Sellers Mile High Musings Favorite LinksHomeRooftop Realty Web Site Colorado Real Estate Commission HUD and VA Homes for Sale Favorite BlogsDiscover ColumbusBitchin' in the Kitchen with Rosie Ardell's Seattle Area Blog Manhattan Loft Guy Real Estate Snippets Active Rain Phoenix Real Estate Guy |