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Senate prepares for bailout vote

By Inman News, Wednesday, October 1, 2008.

The U.S. Senate is planning to vote today on a modified version of the $700 billion financial bailout plan that was struck down by the U.S. House of Representatives Monday in a 228-205 vote.

The Senate version of the legislation, which will require 60 votes to pass rather than a simple majority, proposes to raise the FDIC and National Credit Union Share Insurance Fund deposit insurance limits from $100,000 to $250,000 per depositor per bank.  more...

Get ready for real estate consolidation

By Inman News, Wednesday, October 1, 2008.

Last week, it was announced that Brookfield Residential Property Services, based in Toronto, Canada, would purchase GMAC Home Services LLC, which operates one of the largest real estate brokerage companies in the United States (see Inman News article). Brookfield owns the Royal LePage, La Capitale, Johnston & Daniel, and Centract real estate brands.

Like the banking sector, other industries are expected to consolidate in response to tough economic times. And experts say this is just the beginning of a major marrying of unlikely bedfellows in the real estate industry.  more...

'I will NOT reduce my fee'

By Inman News, Wednesday, October 1, 2008.

Editor's note: The following is a reader comment made on the Sept. 26 Inman News column, "Premium service deserves premium pay."

"I will NOT reduce my fee. In fact, I will not even negotiate fees. My fee is my fee. I know the value that I bring to a transaction and if a consumer is smart enough to understand that experience costs, they don't even ask.  more...

Home construction spending falls 28%

By Inman News, Wednesday, October 1, 2008.

The August rate of spending on residential construction projects dropped 27.9 percent compared to August 2007, the U.S. Census Bureau announced today.  more...

Coldwell Banker dials in with iPhone interface

By Inman News, Wednesday, October 1, 2008.

Coldwell Banker Real Estate on Tuesday announced a redesign for its ColdwellBanker.com Web site and navigational tools that are customized for display on iPhones.

The Web site "automatically recognizes that it is being accessed by an iPhone, and will serve up the special iPhone interface," the company announced -- no software downloads are required for the custom interface.  more...

8 Democrats back bailout alternative Premium Content

By Matt Carter, Wednesday, October 1, 2008.

Eight House Democrats Tuesday proposed an alternative plan for unfreezing credit markets without putting taxpayers at risk that includes dropping "mark to market" accounting rules for mortgage backed securities and allowing the FDIC to buy "net worth certificates" in troubled banks.  more...