HDTenEightyP/NetNews huggingface dataset:
From: kumar@raleng.mtc.com
Subject: Re: Rent or Owner finance (which is more beneficial?)
Organization: Memorex Telex, Raleigh, N.C.
Distribution: misc
Date: Tue, 17 Nov 1992 17:58:51 GMT

In article <1992Nov16.210851.8045@rti.rti.org>, iba@rti.rti.org writes:

> Anyone have any advice on which way to go.  The payments vs. rental
> fee would come out to about the same monthly figure of $500.  The
> difference, of course, is the sale, versus just renting the place but
> maintaining ownership myself.
> 
> I'm forced, at this time, to do one or the other, so I'm seeking
> immediate help in the form of opinions from the Networld.  Any help
> would be deeply appreciated.
> 
> Thanks
> 
> Ingrid
> rti@shrike.rti.org
Please provide me with the details of your property, I am currently looking for
a owner financed townhome/condominium.
Thanks
Newsgroups: misc.invest.real-estate
From: thomasr@cpqhou.compaq.com (Thomas Rush)
Subject: Re: Mortgage prepayment: 'front' vs. 'back' application?
Reply-To: thomasr@cpqhou.UUCP (Thomas Rush)
Organization: Compaq Computer Corporation
Date: Wed, 18 Nov 92 21:15:55 GMT

In article <1992Nov17.114328.44877@kuhub.cc.ukans.edu> 1k1mgm@kuhub.cc.ukans.edu (Christopher Gunn) writes:
>
>What I would like to know is just how the converse 'front-end' scheme
>is calculated.  Simplest way would be to re-compute the amortization
>scheme each time there is an extra principal payment, for a term
>equal to the remaining term of the original loan at the new balance.
>This works just fine computationally, but seems almost too debtor-
>friendly.  Do the lenders do this differently, in order to pocket
>surplus interest, via quarterly or annual adjustments?

For fixed-rate mortgages, just remember these two things and it's easy
(note that your contract may have different terms, but these are about
as standard as they come).

1) Mortgage interest is simple interest (coumpounded monthly).
2) You are committed to paying the monthly payment _amount_ 
   until the loan is paid off.

So: Payment = (Balance * InterestRate) + PrinciplePayment

If your payment is $850/month, your 22nd payment may be $800
interest and $50 principle, with a remaining balance of $96000 
owed. 

If you pay an extra $500 principle to the front end, your next 
moth's figures look like this:
Principle: 95,500
Interest :    795.83

Therefore your principle paid this month is 850 - 795.83 = 56.67.
Subtract that from this month's principle to get next month's,
which will be 95,443.33.

It's an iterative process, something that spreadsheets are quite
good at if you have one available.



thomas rush			compaq computer corporation	
thomasr@cpqhou.compaq.com	their employee, not their opinions.
I believe all human interactions should be based on mutual consent.
From: jyl@burgess.eng.sun.com (Jacob Levy)
Newsgroups: misc.invest.real-estate
Subject: Re: Re: Breaking the MLS monopoly
Date: 19 Nov 92 09:04:28
Organization: What?! Organization???
	<1992Nov19.160754.23332@unocal.com>
Reply-To: jyl@toss.eng.sun.com
NNTP-Posting-Host: burgess
In-reply-to: stgprao@st.unocal.COM's message of Thu, 19 Nov 1992 16:07:54 GMT

In article <1992Nov19.160754.23332@unocal.com> stgprao@st.unocal.COM (Richard Ottolini) writes:

   I would not be surprised if there are many locations where maintaining a
   listing service would be the crime of "practicing realotry without a
   license" with penalties.  There is lots of money in real estate
   transactions and powerful profesional groups involved.  They've probably
   lobbied laws in their states to protect themselves.

That's an easy one. This is an *advertising* business, like MLS and
newspapers and real-estate trade rags and radio and TV and a host of others
like it. The easy access, constant fee and diversity is what sets it apart
from other such services.

--JYL
Newsgroups: misc.invest.real-estate
From: pkrause@triton.unm.edu (Paul Krause CIRT)
Subject: Re: Builder wants to settle before year end?
Date: Mon, 23 Nov 92 18:57:24 GMT
Organization: University of New Mexico, Albuquerque

In article <rohrernl.46@helix.nih.gov> rohrernl@helix.nih.gov (Nathan Rohrer) writes:
>I am buying my first home with a settlement date set for late January.  The 
>builder recently had the real estate agent call me about closing before the 
>end of the year.  Is there a reason why the builder would want to do this?  
>
I assume he is trying to do some year end tax planning.  It sounds like he
has some losses he wants to offset, or expects to have a big year next
year and is trying to shift profits to the current year.
Paul


Newsgroups: misc.invest.real-estate
From: pkrause@triton.unm.edu (Paul Krause CIRT)
Subject: Re: Real Estate News Summary, Part 128
Date: Tue, 17 Nov 92 15:49:20 GMT
Organization: University of New Mexico, Albuquerque
Distribution: usa

In article <1992Nov16.220048.17388@adobe.com> hamachi@adobe.com (Gordon Hamachi) writes:
>Real Estate News Summary, Part 128, October, 1992
>
>     rental housing out of the reach of more and more households.  Despite high
>     rental vacancy rates and weak economic growth, rents stand near a 20-year
>     peak.  Rental costs as a percentage of renter income rose above 30% for
>     only the third time in 25 years.in the Northeast and 4.3% in the Midwest
>     but plunged 19.5% in the West.  [Wall Street Journal]

There has got to be something strange about these numbers.  How can you have 
high vacancy rates and rents at a 20 year peak?  I know from the last few 
years that you can fill your building if you lower the rents enough.  If you
want to keep rents high and have an empty building I guess thats your choice.
I have to think these numbers were derived from totally different sample
populations and are not really comparable  (apples and ornages).
Paul
From: 1k1mgm@kuhub.cc.ukans.edu (Christopher Gunn)
Newsgroups: misc.invest.real-estate
Subject: Mortgage prepayment: 'front' vs. 'back' application?
Date: 17 Nov 92 11:43:27 CST
Organization: University of Kansas Academic Computing Services

Was doing some spreadsheets on accelerated payments of mortgages
when I read somewhere (can no longer find article--maybe it was
a newspaper column) that a 'debtor-hostile' form of loan pre-payment
terms was to apply early principal payments to the 'back end' of the
debt.  What I think this means is that interest payment amounts
would stay the same as in the original amortization scheme, with
the loan ending when principal drops to zero.  I checked my
spreadsheet logic and sure enough, I was doing it that way, and it's
debtor-hostile, all right:  it creates a steadily-climbing effective
interest rate that gets huge near the end.

What I would like to know is just how the converse 'front-end' scheme
is calculated.  Simplest way would be to re-compute the amortization
scheme each time there is an extra principal payment, for a term
equal to the remaining term of the original loan at the new balance.
This works just fine computationally, but seems almost too debtor-
friendly.  Do the lenders do this differently, in order to pocket
surplus interest, via quarterly or annual adjustments?

The paperback/consumer literature on this subject all assumes
that the reader couldn't construct an amortization table if the
alternative were torture and death, and I have no idea where to
start looking for specific technical literature.  Pointers would
be appreciated....

Christopher Gunn	Molecular Graphics and Modeling Lab
SPAN--KUPHSX::GUNN	Department of Medicinal Chemistry, Malott Hall
913-864-4428 or -4495	University of Kansas, Lawrence, KS  66045
From: haught@tigger.jvnc.net (Darrell Haught)
Newsgroups: misc.invest.real-estate
Subject: Re: Breaking the MLS monopoly
Date: 19 Nov 92 16:31:51 GMT
Organization: JvNCnet, Princeton University, NJ
Originator: haught@r2d2.jvnc.net

In article <JYL.92Nov18105304@burgess.eng.sun.com> jyl@toss.eng.sun.com writes:
>
I believe that something like that already exists. It's called HELP-U-SELL.
Not exactly sure how it works but it supposed to bypass the REALTORS.

Darrell


>Is there any reason why private people should not be able to start their
>own listing service? I think it would work somewhat like this:
>
>- Joe R. Andom wants to sell his home.
>- Joe contacts the private listing service.
>- They charge for a listing in the same manner as a newspaper would, i.e.
>  fixed cost per word and for a period of time.
>- Joe sells his home and cancels the listing.
>
>The listing service also provides computerized subscriptions, so that
>anyone with a PC can connect. Probably the connection itself would be free,
>and there'd be a pay-per-access charge for each listing.
>
>I cannot see how such a service would possibly fail as a business. Every
>sensible realtor would subscribe in addition to subscribing to the MLS, and
>every potential buyer with a PC would also independently subscribe.
>
>I also think that if it came to a lawsuit, the charges could successfully
>fought on the grounds of monopolization.
>
>Comments?
>
>--JYL
From: paul@hsh.com
Newsgroups: misc.invest.real-estate
Subject: Re: Question on HSH Homebuyer's Mortgage Kit
Date: 20 Nov 92 15:05:59 GMT
Distribution: usa
Organization: HSH Associates

In article <1992Nov13.180745.5928@cbfsb.cb.att.com>, gnreddy@cbnewsf.cb.att.com
(G.Narotham Reddy) writes: 
> 
> I just read about the HSH Associates Homebuyer's Mortgage kit. 
> discusses the basics of mortgage financing, the mortgage process from
> application to closing etc,. Finally, It costs $18.00.
> 
> I would like to know how good is this publication before ordering one.

I can't give you an unbiased opinion (see my sig), but I can tell you more 
about it.  The Kit includes: 

1) a 44-page book called "How to Shop For a Mortgage," which 
   is a primer to the kinds of mortgages available; how the mortgage market 
   operates; and tracking your application up until closing, with emphasis on 
   avoiding delays.

2) a list of some of the rates & terms available from lenders in your area.  
   (Depending on where that is, it could include between 14 and 70 lenders,
   with 3 or more loans per lender.)  For each loan, we list the interest rate;
   total points; type & term; down payment; loan amount; when the rate is
   locked in; and the lock-in period.  (ARMs also have the index, margin, and
   caps listed.) 
   We only send current info, which means that regardless of when you order,
   it's mailed either Friday or Saturday (depending on the area), right after
   we've updated all of the data.

The same info is available for your IBM PC as "PC Mortgage Update," which lets 
you use the a prequalification worksheet to search for loans you could qualify 
for; then, you can rank, sort, etc those loans any way you want.  Updates for 
PCMU can be mailed or downloaded.

BTW, we don't ever claim to offer the "best" rates; we report what lenders 
offer.

I dunno where you read about it, but the price for either product has been $20 
for over 3 years now.

A lot of folks in the CompuServe INVFORUM have used our products; if you have
access, ask them how they like it.  

------

 Paul Havemann, VP         HSH Associates          (201)838-3330 |1-800-UPDATES
 Internet: paul@hsh.com    Compuserve: 70410,3507  AOL: HSH Assoc
 'Any opinions expressed are not necessarily those of the company.'
      (Well, OK, this time they are...)
  
"He walks again by night!  Out of the fog, into the smog -- doggedly...
relentlessly... ruthlessly... toward his weekly meeting with The Unknown..." 
Newsgroups: misc.invest.real-estate
From: mehrpuya@rtsg.mot.com (Djamschid Mehrpuyan)
Subject: refinancing a house
Organization: Motorola Inc., Cellular Infrastructure Group
Distribution: usa
Date: Mon, 23 Nov 1992 19:18:41 GMT


I want to refinance my house.  I have a 7 year mortgage at an interest
rate of 9.0%.  I have been living in my house for 2 years now.  I 
have been looking at the weekend tribune in Chicago and noticed that
7 year mortgages go as low as 7.0%.  Is it worth refinancing from a 9.0%
to a 7.0% or even 7.5% mortgage ?  In the tribune they list the number of
points you have to pay and also the Lock fee and fees/caps.  Do you have
to pay all of these when refinancing ?  What is the Lock fee and the
fees/caps ?  Is there a special formula that I can use to calculate the 
new mortgage given the input values (points, Lock fee, Fees/caps) ?
Some of the banks have listed as fees/caps readings such as follows:

    Buydown
    +2/1/0 Buydown
    +Jumbo
    $320+

What do these values mean.

I would greatly appreciate any suggestions/advices on refinancing a house.

Thanks

     -DJ
From: jyl@burgess.eng.sun.com (Jacob Levy)
Newsgroups: misc.invest.real-estate
Subject: Breaking the MLS monopoly
Date: 18 Nov 92 10:53:04
Organization: What?! Organization???
Reply-To: jyl@toss.eng.sun.com
NNTP-Posting-Host: burgess


Is there any reason why private people should not be able to start their
own listing service? I think it would work somewhat like this:

- Joe R. Andom wants to sell his home.
- Joe contacts the private listing service.
- They charge for a listing in the same manner as a newspaper would, i.e.
  fixed cost per word and for a period of time.
- Joe sells his home and cancels the listing.

The listing service also provides computerized subscriptions, so that
anyone with a PC can connect. Probably the connection itself would be free,
and there'd be a pay-per-access charge for each listing.

I cannot see how such a service would possibly fail as a business. Every
sensible realtor would subscribe in addition to subscribing to the MLS, and
every potential buyer with a PC would also independently subscribe.

I also think that if it came to a lawsuit, the charges could successfully
fought on the grounds of monopolization.

Comments?

--JYL
Newsgroups: misc.invest.real-estate
From: stgprao@st.unocal.COM (Richard Ottolini)
Subject: Re: Breaking the MLS monopoly
Organization: Unocal Corporation
Date: Thu, 19 Nov 1992 16:07:54 GMT

I would not be surprised if there are many locations where maintaining a listing
service would be the crime of "practicing realotry without a license" with
penalties.  There is lots of money in real estate transactions and powerful
profesional groups involved.  They've probably lobbied laws in their states
to protect themselves.
Newsgroups: misc.invest.real-estate
From: earec@cbnewsg.cb.att.com (rodney.e.conrad)
Subject: HOUSE 4-Sale in Maryland
Organization: AT&T
Distribution: usa
Date: Thu, 19 Nov 1992 18:44:29 GMT

Townhouse in Owings Mills, Maryland


        3-year old Townhome, conveniently located minutes from beltway
		and metro station, featuring the following:

        - 3 BR, 2 1/2 baths 
        - Beautiful setting with large backyard, backs up to woods and 5
          acre field.
        - Large deck with steps leading to brick patio.
        - Walk out basement with French doors.
        - Spacious country kitchen with solid oak cabinets, oak hardwood
          floor in Dining Room.
        - Open oak staircase.
        - Cathedral ceilings on second floor.
        - Sizable Master BR with walk-in closet.
        - Angle bay window in LR.
        - Appliances included:
                - refrigerator
                - dishwasher
                - dryer.

	- Asking Price:  $121,900

	Contact Rodney at: (W) 410 584-4152
			   (H) 410 363-8655

		or e-mail  rec@addams.att.com
Newsgroups: misc.invest.real-estate
From: pkrause@triton.unm.edu (Paul Krause CIRT)
Newsgroups: misc.invest.real-estate
Subject: Re: Rent or Owner finance (which is more beneficial?)
Date: 17 Nov 92 15:39:11 GMT
Distribution: misc
Organization: University of New Mexico, Albuquerque

In article <1992Nov16.210851.8045@rti.rti.org> iba@rti.rti.org writes:
>Hi All,
>
>I presently own a house and a townhouse.  I have recently moved into
>the house and the townhouse remains vacant.  I have tried to sell it
>on the market for about a year now but, it's small and low priced,
>therefore, not attracting buyers in the market right now.  Most of the
  Not to be harsh, but there is a saying that any property that doesn't
  sell in 90 days (assuming proper marketing etc.) is overpriced.
>
>amount.  I need to do one of two things, either rent it, or do an
>owner financing sale.
>
Are you sure these are your only two options.  From the tone of your post
it sounds to me like you really don't want to be in the rental or banking
business.  If that is the case it is very easy to sell/rent to the wrong
people and end up with much bigger problems than making two payments.
Another saying is compared to a bad tenant, a vacancy is a delight.

Are you sure you wouldn't be ahead to lower the price to whatever it takes
to make it sell, consider it a learning experience, and get on with your
life?

Paul
Newsgroups: misc.invest.real-estate
From: rohrernl@helix.nih.gov (Nathan Rohrer)
Subject: Builder wants to settle before year end?
Organization: National Eye Institute, National Institutes of Health
Date: Mon, 23 Nov 1992 16:49:57 GMT

I am buying my first home with a settlement date set for late January.  The 
builder recently had the real estate agent call me about closing before the 
end of the year.  Is there a reason why the builder would want to do this?  
From what I understand (very limited) it is best for me to settle this thing 
next year and at the end of a month (for tax purposes).  Am I right on 
this?  Any info would be appreciated, thanks.



/*********************************************************************/
/*                       --- Nathan Rohrer ---                       */
/*  NATIONAL EYE INSTITUTE, OFFICE OF SCIENCE POLICY AND LEGISLATION */
/*              MANAGEMENT INFORMATION SYSTEMS SECTION               */
/* BITNET: NLR@NIHNEI31                  BETHESDA, MD 20892-0031     */
/* INTERNET: rohrernl@helix.nih.gov      NIH 3Com: NLR:NEI31:NIH     */
/* CompuServe: 70670,3164                PHONE: 301 496-2194         */
/*********************************************************************/
Newsgroups: misc.invest.real-estate
From: earec@cbnewsg.cb.att.com (rodney.e.conrad)
Subject: HOUSE 4-Sale in Maryland
Organization: AT&T
Distribution: usa
Date: Thu, 19 Nov 1992 18:54:42 GMT

Townhouse in Owings Mills, Maryland


        3-year old Townhome, conveniently located minutes from beltway
		and metro station, featuring the following:

        - 3 BR, 2 1/2 baths 
        - Beautiful setting with large backyard, backs up to woods and 5
          acre field.
        - Large deck with steps leading to brick patio.
        - Walk out basement with French doors.
        - Spacious country kitchen with solid oak cabinets, oak hardwood
          floor in Dining Room.
        - Open oak staircase.
        - Cathedral ceilings on second floor.
        - Sizable Master BR with walk-in closet.
        - Angle bay window in LR.
        - Appliances included:
                - refrigerator
                - dishwasher
                - dryer.

	- Asking Price:  $121,900

	Contact Rodney at: (W) 410 584-4152
			   (H) 410 363-8755

		or e-mail  rec@addams.att.com
From: jizhu@sunrel.Eng.Sun.COM (Jim Zhu)
Newsgroups: misc.invest.real-estate
Subject: Limited Partnership
Date: 16 Nov 1992 21:52:22 GMT
Organization: Sun Microsystems
Distribution: world
Reply-To: jizhu@sunrel.Eng.Sun.COM
NNTP-Posting-Host: sunrel

Hi,

Does anybody know how the limited partnership work in the real estate
investment?   Are there any firms specializing in this field?
Any info will be appreciated.  Thanks in advance.

Jim
From: markn@urbino.ATC.Olivetti.Com (Mark Nass)
Newsgroups: misc.invest.real-estate
Subject: Statistics
Date: 18 Nov 92 02:01:25 GMT
Distribution: usa
Organization: Olivetti ATC; Cupertino CA, USA


  Does anybody know of a place where I can get information 
about the number of jobs, unemployment rate and median 
selling price of homes for a particular county? Like Santa 
Clara county in California. I would like to get this information 
for the last 5 or 6 years.

Thanks,
Mark Nass

Newsgroups: misc.invest.real-estate
From: heflin@rtsg.mot.com (Suzanne Stratton Heflin)
Subject: Re: refinancing a house
Organization: Motorola Inc., Cellular Infrastructure Group
Distribution: usa
Date: Mon, 23 Nov 1992 21:53:26 GMT

mehrpuya@rtsg.mot.com (Djamschid Mehrpuyan) writes:


>I want to refinance my house.  I have a 7 year mortgage at an interest
>rate of 9.0%.  I have been living in my house for 2 years now.  I 
>have been looking at the weekend tribune in Chicago and noticed that
>7 year mortgages go as low as 7.0%.  Is it worth refinancing from a 9.0%
>to a 7.0% or even 7.5% mortgage ?  In the tribune they list the number of
>points you have to pay and also the Lock fee and fees/caps.  Do you have
>to pay all of these when refinancing ?  What is the Lock fee and the
>fees/caps ?  Is there a special formula that I can use to calculate the 
>new mortgage given the input values (points, Lock fee, Fees/caps) ?
>Some of the banks have listed as fees/caps readings such as follows:

I would keep in mind how many points you have to pay to get the 7.0%
If you have to pay 3 points, it might not be worth it, although at the
7.0 I would say it is.  7.5, I don't know.  Yes, you definitely pay all
of the points and fees when refinancing.  As a matter of fact, you usually
pay a bit more when refinancing because you pay more to the title company.
When you buy a house, the seller has to pay for a title search, and you
pay for title insurance.  When you refinance, you pay for both of these.
Lock fee is unfortunate...I would look for one that gives 60 day lock with
no fee.  When they show Fees/cap, that only refers to the application
fee, not all the other fees they may tack on such as document preparation
fee, appraisal fee, tax fee, underwriting fee, ad nauseum.  Not all lenders
charge all these fees, so BE SURE TO ASK!  The cap portion of that only
refers to the yearly and lifetime caps of an Adjustable Rate Mortgage that
can change every year.

>    Buydown
>    +2/1/0 Buydown
>    +Jumbo
>    $320+

>What do these values mean.

I still don't know what Buydown, or +2/1/0 buydown mean.  I do know that
you can "buy down" a particular rate by paying more points up front.  For
example, I can get a 30 yr. fixed at 8 1/8 with 3 points.  I can "buy it
down" so that for each 5/8 of a point I am willing to pay, they will reduce
the interest rate 1/8%, e.g. I can get 7 5/8 if I pay 5.5 points.  
A jumbo loan refers to a jumbo (large) loan....I think it approx. $202,000
or more.  The $320+....well, $320 is somewhat typical for an application
fee (normally from 250 - 350).  I don't know what the + means; that should
be a set cost.


>I would greatly appreciate any suggestions/advices on refinancing a house.

>Thanks

>     -DJ