Tuesday, June 15, 2010

Real estate news update: 6-15

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Oil spill may cause $4.3 billion loss in Gulf Shore properties
Business Week:
Falling real-estate prices are one consequence of the worst environmental disaster in U.S. history as oil keeps gushing from a BP well.
FBI to arrest hundreds for mortgage fraud
Calculated Risk: The FBI typically doesnt arrest borrowers who misrepresented their income - they arrest mortgage brokers who encouraged people to falsify their income.
Vacation home scams online: If its too good to be true ...
Washington Post: The FBIs Internet Crime Complaint Center reports that sham vacation home offers are only the latest in a long list of online fraud operations it tracks.
Jumbo mortgage markets slow return to normal
Market Watch: But while some primary lenders are said to be putting their toes back into the jumbo space, still others are pulling out. So its a very mixed bag
Big banks move to short sales, but will it help housing?
CNBC: The bad news is that short sales, like it or not, are comps. They sell for less, and consequently bring down the values of properties around them.
Sending in the scouts
The Real Deal
: Previewing properties in New York has become an increasingly popular trend as buyers have become pickier about getting bargains and inventory has risen.

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Headlines compiled by Strategic Research.


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