Is it possible to buy/own land in Antarctica?

interesting article on one part of the world not owned by anyone specifically...from goodnature.nathab.com

Antarctica: How Long Can It Remain “Unowned”?

Antarctica is the Earth’s only continent without a native human population, and no one country can claim to own it. Unique in the world, it is a land dedicated to science and all nations.

However, that could soon change. With the 2048 renewal date for the Madrid Protocol fast approaching, there are already signs that countries may be vying for possession of territory there. Complicating this issue is that as the climate continues to rapidly warm, oil and gas deposits that Antarctica may have—first hinted at in the 1970s—might finally be able to be extracted.

The energy needs of the world are increasing. Is thinking that a whole continent can remain dedicated solely to science now unrealistic?



The Antarctic Treaty

Antarctica—although the Argentine, Chilean and British claims partially overlapped. In the 1957-1958 International Geophysical Year, Belgium, Japan, South Africa, the U.S.S.R. (now Russia), the United States and the original claimants met. On December 1, 1959, these 12 countries signed the Antarctic Treaty. In part, the treaty stipulated that:
Antarctica is to be used for peaceful purposes only; no military measures are permitted (the treaty does allow, however, some commercial activity: fishing is permitted in certain areas of the Southern Ocean and tourists can visit Antarctica, as long as their expeditions are approved by their national Antarctic programs).
Nuclear explosions or dumping of radioactive wastes are banned.
There is complete freedom of scientific investigation and cooperation.
Claims are “frozen”; no new or enlarged claims are permitted (15 percent of Antarctica is still unclaimed). It does get tricky here: while the original claimants are the only nations allowed to have claims, they can’t assert them. So if, for example, Sweden wants to build a base, it can go to the treaty nations as a whole to present a proposal.
A decision-making role is held only by nations carrying out substantive scientific research activity.

Today, more than 45 nations are signatories.

Penguins and ice shelves

In 1991, the Protocol on Environmental Protection to the Antarctic Treaty (also known as the Environmental Protocol or Madrid Protocol) was adopted. It entered into force in 1998, and it is the main instrument concerning conservation and management of biodiversity in Antarctica. Notably, it prohibits mining. If requested, however, in 50 years time a review conference could decide to modify the mining prohibition, provided that “at least three-quarters of the current consultative parties to the Antarctic Treaty agree, a legal regime for controlling mining is in force and the sovereign interests of parties are safeguarded.” That 50-year term expires in 2048.

Unfortunately, disagreements between countries about commercial rights to the continent are bound to increase in the future. A study first published online in 2012 in the sixth edition of the Nature Geoscience journal identified central West Antarctica as one of the fastest-warming regions on Earth. The researchers presented a complete temperature record from Antarctica’s Byrd Station and stated that it “reveals a linear increase in annual temperature between 1958 and 2010 by 2.4 plus or minus 1.2 degrees centigrade.”

Back in 2007, the United Kingdom made a submission to the United Nations for sovereignty of 386,000 square miles of seabed off Antarctica, some say in defiance of the spirit of the Antarctic Treaty. While it is too difficult to extract any useful minerals from that area at the moment, technological innovations and environmental changes due to climate change in the Southern Ocean could make drilling an economically viable activity within a few decades.

Recent events such as these have given rise to the fear that countries are subtly working to position themselves for that moment in 2048, when the consultative parties may revise the Madrid Protocol. They point to China, which has already built four Antarctic research stations and has scouted the construction site for its fifth. And the United Kingdom and Argentina continue to have diplomatic tensions over the Falkland Islands.

Who owns Antarctica? Right now, it could be said, that the penguins and the ice shelves do. But that might soon change.

12 Things That Trip Up Homebuyers

Looking to buy in 2018...here's some points to take under consideration...from usnews.com

Buying a house is supposed to be the American dream, but it can turn into a nightmare for buyers who go into the process with unrealistic expectations and insufficient information.

"The process of buying a home [can be] excruciating," says Craig Evans, an Ally Bank mortgage executive with more than 30 years of experience in the industry. There are some things that seem to trip up homebuyers again and again. Here are the mistakes real estate experts say people make when buying a home:

1. Failing to get pre-approved. Before they even start looking at homes, buyers should get pre-approved for a mortgage. Not only does this ensure they are visiting houses they can afford, it also avoids the heartbreak that can come from missing out on a hot property when multiple people are placing offers. "There's nothing worse than having a buyer find the home of their dreams, and they are not pre-approved and need to place an offer in 12 hours," says Tim Savoy, a sales associate with Coldwell Banker Residential Brokerage in the District of Columbia.

2. Neglecting to factor in all the costs. One reason for the housing market collapse a decade ago was the number of homebuyers who purchased properties with costs beyond their means. "Lenders own a lot of the problems that happened in the past," Evans says. "We put [people] in homes they really couldn't afford." Regulatory changes were enacted to help avoid a repeat of that situation, but buyers still bear responsibility for ensuring they can afford all the costs of homeownership. Those include property taxes, insurance, closing costs and association dues.

3. Not shopping for the best mortgage product. Evans says there are more than 6,000 places to get a mortgage in the United States, and some companies may offer only a limited number of products. For the best deal, homebuyers should check with at least two or three lenders for their rates and terms.

What's more, buyers should be sure to read the fine print and take into consideration all their closing costs. For example, points are fees paid by consumers in exchange for a lower interest rate. "Some lenders might promise a buyer a great rate, but don't disclose how many points need to be bought at the table," Savoy says.

4. Opting out of the digital mortgage process. While not every lender offers a digital option for income and asset verification, consumers should consider opting in when it's available. "It's startling if you have to go through the manual process," says Laura Williamson, senior vice president of client services for mortgage solutions firm Digital Risk. Lenders who can electronically verify information may be able to close in as little as 10 days, compared to 45 days for those going through manual verification. It also eliminates a headache for borrowers who otherwise have to dig out months of bank statements and pay stubs to prove they can afford the mortgage.

5. Thinking your mortgage company will remain the same. The mortgage company that approves the loan might not be the one receiving subsequent payments. "Consumers should know it is very customary for loans to be sold after closing," Williamson says. Homebuyers should watch for a notice of a mortgage sale to ensure their payments are routed correctly and late fees are avoided.

6. Seeing paperwork for the first time at closing. Sitting down to a closing with a stack of papers to sign can feel like a high-stakes experience. Homebuyers have brought their money to the table and are planning to walk away with the keys to a new property. "All these things create pressure to just sign," says Lionel Urban, vice president of product management for mortgage provider PCLender. However, that paperwork could include provisions, such as releases of liability, that aren't favorable to buyers. "The right thing to do is get copies of the documents days in advance," Urban says. That way buyers have plenty of time to review the paperwork or have someone they trust look it over prior to signing.

7. Not understanding property restrictions. Not every mistake homebuyers make is financial in nature. Some people fail to realize the property they've selected comes with a laundry list of restrictions. "If it's a co-op, as are most apartments in New York, there are a lot of rules," says Phillip Salem, a professional real estate salesperson for Triplemint in New York City. Those rules may restrict everything from what improvements an owner can make to when trash can be taken out. Homeowners associations can also make similar restrictions, and both associations and co-ops can charge residents substantial monthly or annual fees.

8. Using the wrong agent. A lot of mistakes can be avoided by having the right agent or broker helping with the buying process. "A first-time homebuyer needs someone who's going to spend a whole lot of time with them," Evans says. Meanwhile, a repeat buyer who is investing in real estate might not need much assistance with the selection process, but could use someone who is savvy about financing options.

9. Visiting the property only once. A single showing will only tell you so much about a property. At 12 p.m. on a weekday, the neighbors might all be gone and the traffic minimal. "I always make sure my clients see an apartment a few times at different times of the day," Salem says. That avoids situations in which someone moves in only to realize that the walls are paper thin or the street gridlocks during rush hour.

10. Forgetting to consider uses of nearby properties. When viewing a home, people should consider how nearby properties can affect their quality of life. Living near a school, for instance, may be convenient, but will traffic and noise from Friday night football games be a nuisance?

While no one can predict the future, homebuyers should also remember that neighboring properties can change over time. "You might have this amazing view, but come to find out there is a 70-story high-rise going up in front of [you]," Salem says. Likewise, fields can become subdivisions and vacant lots can turn into businesses. Check with local zoning administrators to find out what's allowed in your area and whether any potential projects are already in the works.

11. Skipping a home inspection. In a seller's market, waiving a home inspection may be one way to make an offer more attractive. However, that tactic could backfire if a buyer later discovers serious problems with the property. Along with getting the inspection, be realistic about how its findings affect the affordability of a home. "If you're really tight on your finances and getting into a home that needs repairs, can you afford those repairs?" Urban asks.

12. Buying when you should be renting. The biggest mistake can be simply buying a house in the first place. "It's not cheap to buy a house," Evans says. He estimates there could be as much as $10,000 in transaction costs associated with the purchase of a $300,000 house. That's in addition to moving expenses and other incidental costs. While buying a house can be a wise investment for those ready to settle down long term, the cost may not make sense for those planning to move in two or three years. In those instances, renting may be more cost-effective.

Buying a home can be an exciting time in a person's life, and by avoiding these pitfalls, it can be a positive experience as well.

Zillow’s 6 predictions for the 2018 housing market

here's some interesting consideration for 2018 from Zillow and inman news...

Slower home price growth, continued inventory issues and evolving design trends are ahead

If only we could stare into a crystal ball to see exactly what 2018 holds for the housing market. More inventory? Yes! Slower home price growth? Absolutely! Oprah giving everyone a free house? That would be a dream come true.

For now we have forecasts from top economists and housing experts. And Zillow chief economist Svenja Gudell offered hers on behalf of Zillow.

“We’re on the other side of the housing recovery, and the real estate market looks quite different than it did 15 or even five years ago,” Gudell said in a statement. “We have a huge generation entering the market. They really want to be homeowners, and they’re faced with an inventory crisis that leaves them with few options.”

“Builders won’t ignore this hungry market, and we’ll start to see a rise in new construction at the more affordable end, instead of all the luxury buildings we’ve seen lately,” she added.

“However, builders are also facing high costs, so instead of adding density in cities where zoning laws and land costs often preclude affordable building, we’ll see the suburbs grow and expand outward.”

Here are the six things Gudell expects to happen in 2018:

1. Inventory shortages will drive the housing market. Gudell says low inventory will continue to push up home prices and serve as a barrier for first-time homebuyers who struggle to save for a down payment.

Furthermore, this demographic of buyers will struggle to compete against more seasoned buyers who have profited from a home sale and know how to negotiate their way to the top.

Lastly, Gudell says there are 12 percent fewer homes to choose from nationwide than there were a year ago, and 51 percent of for-sale properties are in the top one-third of home values, which are out of reach for first-time buyers.

2. Builders will turn their focus to entry-level homes. Economists have said over and over again that increased residential housing starts, especially at the starter home level, are the key to bringing home prices down.

Housing starts have been well below the 50-year average of 1.2 million, but Gudell expects builders to finally hearken to the call of first-time and lower- to middle-income buyers yearning for more affordable options.

3. Millennials will move to the suburbs. It’s no secret that the majority of millennials would rather live in urban centers with access to a plethora of entertainment and shopping options and robust tech-centered job opportunities. But most millennials, especially those without help from parents, can’t afford to live in these areas.

Gudell says 25- to 34-year-olds will begin moving to the ‘burbs in search of more affordable home prices.

4. Many homeowners will remodel rather than sell. In addition to higher housing starts, experts have said more homeowners selling their homes would help alleviate low inventory issues. Well, homeowners, despite having high confidence about being in a seller’s market, will continue to stay still, says Gudell.

Instead of buying a new home, homeowners will invest in remodeling efforts to make their current homes feel and look brand new.

5. Baby boomers and millennials will drive home design. Baby boomers and millennials are driving the housing market, so it’s no surprise that Gudell says they’ll be driving home design trends in 2018, too.

New starts and renovated homes will feature designs that appeal to both millennials and baby boomers, such as wide hallways that can accommodate both strollers (for young families) and/or wheelchairs (for aging boomers).

Furthermore, homes will also be built using frameworks that make it easy to add elements later, including extra support beams behind shower walls to which grab bars can be added as older generations age in place.

6. Homes prices will continue to grow, but at a slower pace. 2017 has been full of record-breaking home price growth, with economists calling it nearly “unstoppable.”

Gudell says home prices are expected to climb 4.1 percent in 2018 — 1.1 percentage points higher than the “normal” annual appreciation closer of 3 percent, but slower than the current annual pace of 6.9 percent.

Homeowners: Here's what's in the tax bill for you

at least this is the latest proposal and how it could affect you....from ccnmoney.com 12/17/2017

Republicans on Friday unveiled the final version of their tax bill, and it has new restrictions for some homeowners.

Senate and House Republicans have reconciled their versions of tax legislation and the final plan shrinks some popular deductions. Lawmakers aim to vote on the bill next week and then send it to President Trump's desk.

Here's a look at what the changes could mean for future and current homeowners:

Downsized mortgage interest deduction

New homebuyers would now only be able to deduct interest on the first $750,000 of mortgage debt on a newly-purchased home.

That's down from the current $1 million threshold, but higher than the $500,000 limit the House proposed in its tax overhaul in November.

Current homeowners would not be affected by the lower cap.

The deduction has helped make home buying more affordable for some homeowners. While the median home price nationwide is currently $254,000, buyers in some cities face much higher price tags.

The lower limit could make it harder for house hunters in expensive cities. For instance, in New York City, nearly 64% of mortgages on homes sold this year were over $750,000, according to data from ATTOM Data Solutions. And in San Francisco, 58% of home loans exceeded the new cap.

Some experts worry the increased threshold could keep people from selling their homes, which could squeeze the already short supply of housing.

"The mortgage interest deduction change will put downward pressure on prices as well as sales," said Joe Kirchner, senior economist at Realtor.com.

Current homeowners might hesitate to trade up to a more expensive house if the price tag is too high to take full advantage of the deduction.

The new cap would also apply to mortgages on second homes. The original House bill wanted to eliminate the deduction on second homes.

Less reason to itemize

Homeowners must itemize their taxes if they want to claim the mortgage interest deduction. But since the final bill calls for nearly doubling the standard deduction, far fewer Americans are expected to itemize come April.

"In my generation, before we had a home we took the standard deduction, but as soon as we bought a home we started itemizing because that mortgage interest deduction was so significant," said Kirchner. "Now with the higher standard deduction very few people will itemize. It will virtually eliminate the deduction on a practical level."

The final tax bill also eliminates the deduction for interest on home equity loans. Currently that's allowed on loans up to $100,000.

Limit on property tax deduction

Taxpayers will no longer be able to fully deduct state and local property taxes plus income or sales taxes.

Instead, the legislation allows individuals to deduct up to $10,000 in state and local income and property taxes or state and local property and sales taxes.

That means homeowners living in high-tax states like New York, California and New Jersey could see an increase in what they owe Uncle Sam in April.

Nationwide, 4.1 million Americans pay more than $10,000 in property taxes, according to data from ATTOM Data Solutions.

Tax break stays for home sellers

Both the House and Senate bills originally wanted to scale back a tax break for homeowners when they sell their home for a gain.

Taxpayers will still be able to exclude up to $500,000 (or $250,000 for single filers) from capital gains when they sell their primary home, as long as they've lived there for two of the past five years.

Earlier tax reform proposals would have increased the live-in requirement to five out of the last eight years.

Colorado Real Estate Trivia: What was the first permanent building built in Denver? (Answer Below)

The first permanent building built in Denver was a saloon, which continues to be fitting because Denver brews more beer on a daily basis than any city in the United States.

House That Straddles US/Canada Border-Live in 2 Countries at the same time

fun story from cbsnews.com



BEEBE PLAIN, Vt. -- Brian DeMoulin inherited a home 30 years ago and is reluctantly putting it on the market.

"Have a look at my stone house," he told CBS News. "There's the border post."

He also showed us what makes the residence so special.

"This is the stairway that leads to the Canadian apartments," DeMoulin said.

You heard him right. His house is literally in two places at once: Beebe Plain, Vermont, and Stanstead, Quebec, Canada.

The tape on the floor in the upstairs room indicates approximately where the border runs through it. Selling a home that straddles two countries is proving to be quite a challenge.

Realtor Rosemary Lalime spoke with CBS News. She said her ideal homeowner has dual citizenship.

"It makes it more difficult because I have to make sure they have the right customs papers to own the property," she said. "I've had calls from Lebanon, I've had calls from Cuba, L.A. Most of the people are interested in a restoration project."

The historic home was built in the early 1800s as a place to ease commerce between both countries. The nine-bedroom, five-bath estate is listed at $109,000 dollars.

There is one sticking point.

DeMoulin says one door in the residence has to absolutely stay bolted shut at all times.

"You step out that door and you're in Canada off the property and subject to be arrested," DeMoulin said.

Border patrol offices for both nations are right across the street. U.S. Customs and Border Patrol Agent Troy Rabideau spoke with CBS News.

"It's always something we need to be cognizant of who's coming in who's going out. We do a pretty good job of monitoring it," Rabideau said.

"I have a wonderful relationship with both sides," DeMoulin told us. "I feel equally U.S. and Canadian."

DeMoulin has dual citizenship, but that perk won't come along with the deed.

And there is no avoiding property taxes. Both the U.S. and Canada will come calling.

Should I Sell My Home Now or Wait Until the Spring?

considerations for timing the marketing of your home sale....

from RISMedia.com

There are many questions homeowners ask themselves during the selling process. "How much will my home sell for?" "How much should I list my home for?" "Who should I select as a real estate agent to sell my home?" "What if the real estate agent overprices my home?" Last but not least, "Is this a good time to be selling a home?" is also a very common question that real estate agents are asked.

As with every decision in life, there are pros and cons, and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. This is the furthest from the truth. Certainly most real estate markets across the United States experience a "spring market rush" every year. There is no doubt that the "spring market" is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons.

Here are several reasons why choosing to sell your home now may be a better decision than waiting until the spring:

Less Competition
One way that you can tell the spring real estate market has arrived is by driving down a street in your local community. In all likelihood there will be For Sale signs up all over the neighborhood! One great reason to sell your home now and not wait until the spring market is there is sure to be less competition. The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home.

Simply put, it’s the supply and demand theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received and you will get the maximum amount of money for your home.

Serious Buyers Are Out There
Homes are sold and bought 365 days a year, period! Many homeowners believe that buyers aren't out there during the fall and winter months. This simply is not the case. Serious buyers are always out there! Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.

The fall and winter months are also a great time for a potential buyer to see what a specific neighborhood is like. Do your neighbors have pumpkins on their front step? Are there lots of Trick-or-Treaters wandering the neighborhood on Halloween? Do any of your neighbors have any light displays for the holidays? There are buyers out there who will look at these types of things when determining whether your home is in the right neighborhood for them or not.

The Best Agents Are Always Up To The Challenge
Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to adapt to the current season and market their listings to reflect that. A great real estate agent can make suggestions and give some of their tips on how to sell a home during the fall or winter seasons. If a real estate agent doesn't have any suggestions on making your home more desirable for the current season, you should be concerned about the creativity they are going to use when marketing your home.

Staging For The Holiday Season
Many sellers believe staging a home is the main reason a home sells. While staging certainly helps sell homes, some buyers have a difficult time envisioning themselves in a home no matter what you do. However, there are some buyers who can easily be "sold" on a home because it is staged. Simple “seasonal” staging such as adjusting the color of the decor or having an aroma in the air that is relative to the time of year can go a long way with some potential buyers and possibly be the difference between a home selling or not.

Mortgage Rates Are Low
If you've read about real estate in the past year, it's likely you've read that the mortgage rates are very low. You also probably read that there is an expectation that the rates will increase very soon. Since mortgage rates are so low right now, buyers are able to afford more expensive homes. If mortgage rates increase over the fall and winter months while you're waiting for the spring market, it could cost you thousands of dollars as it could eliminate many buyers from the real estate marketplace! Less demand for your home will mean less money. Bottom line: take advantage of selling your home while the rates are this low.

Quicker Transactions
Right now, there are fewer real estate transactions than there will be in the spring. The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do. All of these factors should lead to a quicker transaction and closing for all the parties involved. One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.

By considering all of the reasons above, you will be able to determine whether now is a good time to sell or if you should wait until the spring.