Better Homes And Gardens Real Estate Service

In an effort to better compete with the biggest of the national residential real estate chains, Grubb & Ellis and Better Homes and Gardens agreed Monday to share support services and referrals among their offices in Southern California. It's not exactly a merger--neither is buying the other. The parties are choosing to call it an alliance. It will give Iowa-based Better Homes and Gardens Real Estate Service a stronger presence in Southern California.

Foreclosure Market Booklet: In a bid to capitalize on home shoppers' dreams of picking up a steal in the foreclosure market, the new Southern California alliance of Grubb & Ellis Co. and Better Homes & Gardens Real Estate has begun distributing a booklet listing foreclosed and distressed properties, bank- and corporate-owned homes, homes available for trades and homes being sold by "desperate sellers offering financing." And it apparently works.

Foreclosure Market Booklet: In a bid to capitalize on home shoppers' dreams of picking up a steal in the foreclosure market, the new Southern California alliance of Grubb & Ellis Co. and Better Homes & Gardens Real Estate has begun distributing a booklet listing foreclosed and distressed properties, bank- and corporate-owned homes, homes available for trades and homes being sold by "desperate sellers offering financing." And it apparently works.

In an effort to better compete with the biggest of the national residential real estate chains, Grubb & Ellis and Better Homes and Gardens agreed Monday to share support services and referrals among their offices in Southern California. It's not exactly a merger--neither is buying the other. The parties are choosing to call it an alliance. It will give Iowa-based Better Homes and Gardens Real Estate Service a stronger presence in Southern California.

Better Homes and Gardens Real Estate Service, Des Moines, Iowa, and the Greenman Group Inc., Hollywood, Fla., have announced creation of what is reportedly the first cooperative agreement between a national real estate broker network and a new home marketing firm. The 25-year-old Greenman Group will serve as new home community marketing and on-site sales training consultant to the national broker network of Better Homes and Gardens Real Estate.

Home buyers, apparently choosing higher monthly payments and lower interest paid over a longer term, prefer a 15-year fixed-rate mortgage as their first mortgage option, according to a recent study. The consumer study, by Better Homes and Gardens Real Estate Service, showed that 40.3 percent of respondents preferred the 15-year fixed rate mortgage, compared with 39.3 percent who would choose a 30-year fixed-rate loan.

American homeowners spent an average of $6,600 on remodeling, renovation or repair over the last five years, according to a survey by the Better Homes and Gardens consumer panel. The survey also found that most considered family a key reason for home ownership, but one-quarter of those asked felt the home was important as an investment and for financial security.

The once-hot real estate markets in California and the Northeast are now trailing the Northwest, where homes are selling at an average of 30 days faster than last year, according to an annual survey by Des Moines-based Better Homes and Gardens Real Estate Service. California homes were on the market an average of 87 days during the first six months of this year in contrast with 44 for the same period of 1989, when several markets averaged less than one week.

The average selling price of an existing home nationally is $93,163, while the average new home sells for $103,633, according to a fall survey by Better Homes and Gardens Real Estate Service. "Location, location, location" is more than just a real estate cliche, with the existing homes averaging as low as $47,500 in Buffalo, N.Y., to as much as $435,000 in Saddle River, N.J., a few hundred miles away. Saddle River is an upper-income suburb of New York City.

The following floats also won prizes in the 103rd Tournament of Roses Parade: Lathrop K. Leishman Trophy for most beautiful float by a non-commercial sponsor: City of St. Louis' "Discover the Rose Parade." President's Trophy for best floral presentation: Dr. Pepper's "The Travels of Dr. Doolittle." Grand Marshal's Trophy for most creative design: Indonesia's "Discovering Moluccas--The Spice Islands." Director's Trophy for artistic design: Eastman Kodak's "Family Outing."

In an effort aimed at protecting their investment and enhancing their surroundings, American homeowners have spent an average of $6,600 per household during the past five years on home remodeling, renovation or repair, a recent Better Homes and Gardens consumer panel survey reported. At the high end of the scale, the survey found that over the same period, 17% of homeowners spent more than $10,000 on remodeling, renovation or repair of their home.

RealSelect Inc., operator of Realtor.com, the nation's No. 1 real estate site on the Internet, announced the acquisition of Dallas-based New Home Search Systems, operator of NewHomeSearch.com, a Web site specializing in newly constructed homes. The company said the acquisition is a key link in RealSelect's strategy and previously announced partnership with the National Assn. of Home Builders to develop a new homes Internet site. That new site, Homebuilder.