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Apr

9
2009

Home sweet upside-down home

By Inman News, Thursday, April 9, 2009.
Image by <a href="http://www.lumaxart.com">lumaxart.com</a>.

Whenever I feel overwhelmed about my upside-down home in Bakersfield, Calif., I remind myself of the mantra I've heard over and over from real estate and financial planning professionals: "Any time is the right time to invest in real estate."

During the boom earlier this decade, when home prices were skyrocketing here, it was the "perfect time" for first-time homebuyers to get into the market. Interest rates were low and homeowners were upgrading to bigger properties, leaving many starter homes available for sale.  more...

Lost in the crowd

By Real Estate Tomato, Thursday, April 9, 2009.
Editor's note: The following guest article, by Jim Cronin, is republished with permission from the Real Estate Tomato blog.

I am so proud of the real estate industry. You've come so far.  more...

Apr

8
2009

Real estate and the cultural divide

By Inman News, Wednesday, April 8, 2009.

Editor's note: In this guest perspective, a Phoenix real estate broker sheds light on the pervasive problem -- and possible contributors -- to mortgage fraud.

By MARGIE O'CAMPO DE CASTILLO

There's no doubt, our opinions on immigration and immigrants are as diverse as the color of our skin. While each argument over immigration brings to light some very valid points, one thing is certain: the cultural divide is widening and at one point or another we will have to deal with the issues it brings.  more...

Thank you for 'real-life reality' tales

By Inman News, Wednesday, April 8, 2009.

Dear Editor:

Alison, best of luck in your new endeavors.

I will miss your stories since they were "real-life reality" stories that I'm sure -- "rookie" or not -- we could all relate to and get a laugh.

You will be missed!

Linda Lang-Bankowski
Owner-broker
Quinnipiac Realty LLC
North Haven, Conn.

***

What's your opinion? Leave your comments below or send a letter to the editor.  more...

Apr

7
2009

Loan mods or bust

By Inman News, Tuesday, April 7, 2009.

Re: 'Negative equity: a housing time bomb'

Dear Editor:  more...

Bailouts are only short-term fixes

By Inman News, Tuesday, April 7, 2009.

History will show that our economic problems were government-created and that they were extended by more government involvement. The government said buyers needed no skin in the game -- nor did banks that were asked to make questionable loans and package them with good loans in what we now call "toxic assets."

The consequences produced a real estate bubble, along with fictitious wealth and gain. When the check came due, the call was made for more government intervention which will only create more unforeseen problems.  more...

Apr

3
2009

Protests against KB Home at Westwood HQ

By Curbed.com, Friday, April 3, 2009.

LOS ANGELES -- The protects continue: This morning, a group of about 50 homeowners (former and current), construction workers, and housing advocates showed up at KB Home's Westwood headquarters at 10990 Wilshire Blvd. During the brief protest, construction workers spoke of workplace exploitation and homeowners described being locked into deceptive loans through Countrywide financing that was pushed through by KB.

Additionally, various buyers described being lied to about tax burdens so they'd qualify for mortgages, being foreclosed on so more profitable short sales could go through, and being told they were getting a fixed loan but then being pressured to sign a variable-rate mortgage at closing. One woman spoke about losing her home after her mortgage payments suddenly jumped $600 a month.  more...

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