Thursday, June 17, 2010

Real estate news update: 6-17

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

Housing starts fall sharply in May
Washington Business Journal:
The end of the homebuyer tax credit slowed construction of new homes in May, although housing starts were still higher than a year earlier.
Georgetown Apple store opens Friday
Washington Business Journal: Apple was required to tone down the storefronts design after the preservationists criticized it as not fitting in with Georgetowns historic look.
Breaking the foreclosure cycle
The New York Times: Program aims to create a solution to the foreclosure problem that is also an antidote for why that particular house fell into foreclosure in the first place.
Maryland lags in delivering its share of bike trail
DC Mud: The most optimistic estimate coming out of County work sessions is that the final trail will not be available to non-motorists until late 2018/early 2019.
High default seen for modified mortgages
Wall Street Journal: Among those with loans that arent backed by any federal agency, the redefault rate within a year is likely to be 65% to 75% under HAMP.
Lenders go after money lost in foreclosures
Washington Post
: Lenders have become more aggressive in trying to recoup money lost in foreclosures and other distressed sales.

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Headlines compiled by Strategic Research.

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