Builders Now Looking At Trading Houses Strategy

February 23, 2009
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This could be the option you are looking for. To get out of the house you have long wanted to sell but just could not in view of the housing crisis. So why not go house trading? After all, some people have found satisfaction out of this transaction. If you can sell your house and immediately find one where you can move in without hassle then that would be a great deal!

Mac Naughton Builders based in East Granby tried this strategy in the1990s when the housing industry was suffering from a slump and it clicked! Now he is into house swapping. He offers one of his newly constructed houses and in turn he will buy…

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Filed Under: Real Estate

Lawyers Now More Visible In Home Buying Transactions

February 23, 2009
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When you feel that real estate brokers, mortgage bankers and other real-estate related professionals are just looking after their vested interest, hire a lawyer instead.  You can somehow be assured that your best interest is being looked after.

In Florida where cases of foreclosures have soared, residents especially those living in the South are now seeking the services of lawyers. This is what the Central Florida Real Estate Council has noticed.  However, this practice is not yet widely adopted in Central Florida.

Well, hiring legal counsel at the start of any real estate transaction would be a lot less costly than taking action late when deals have already turned from bad to worse especially now…

Morgan Stanley Real Estate Under Fire

February 23, 2009
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It is good to note that while the financial crisis is still reeling, the anti-corruption law of the federal government still has teeth to clamp down illegal practices.  Morgan Stanley’s case is a specific instance to cite. Its top executives were found violating the Foreign Corrupt Practice Act, prompting the firm to reorganize its Asian real-estate operation.

As the financial crisis is gripping tightly at everybody’s pockets, there is a strong possibility that corruption would become a common practice worldwide. It is possible that the real estate industry would not be the only arena where corruption turns up its head but in almost every transaction.

Officers responsible for enforcing the Foreign Corrupt Practices…

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Filed Under: Real Estate Crisis, Real Estate Fraud

Alaska Real Estate Fraud

February 20, 2009
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The economic downturn being experienced in the United States today has placed a lot of pressure on illegal schemes in a variety of industry. Take for example the biggest real estate loan fraud in Alaska which may not even see the courtroom after a plea agreement has been inked between the prosecutors and the defendants consisting of seven individuals and one company. One defendant had a change of my last week and withdrew his agreement. All are facing charges of fraud and conspiracy.

The case, which was scheduled for trial this week, may never even reach trial after the plea agreement was reached 14 months after the defendants were indicted in…

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Filed Under: Economy Crisis, Foreclosures, Real Estate Fraud

Parade of Homes To Attract Potential Buyers

February 20, 2009
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The Parade of Homes in Manatee and Sarasota counties, which will start this week, is expected to bring excitement to the sagging real estate market by encouraging people to buy houses despite the economic crisis. The latest model homes and residential communities, 54 model homes at the last count, will be shown by local builders and developers

The Parade of Homes, which is jointly sponsored by the Home Builders Association of Manatee County and the Sarasota Building Industry Association, is an annual event which will be held from February 22 to March 8. Manatee association executive vice president Alan Anderson said the parade aims to drive foot traffic to the different…

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Filed Under: Real Estate Investment

Closure Of Real Estate Office Leads To New Business

February 20, 2009
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“Blessing in disguise”, might well be the appropriate term for the closing of one door for Ron Nester, Jr. and Huey Mitchum, former Lake Marion Realty agents. Company restructuring paved the way for the closure of Lake Marion Realty as well as Wyndham Vacation Resorts Lake Marion. This meant immediate unemployment for the two but not for long since it encouraged them to open up their own real estate office right where their former office was located and that’s at 9161 Old Number Six Highway..

Aside from keeping the office space, Nester and Mitchum also decided to keep the Realty name and the company’s website. The new realty office, which is…

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Filed Under: Real Estate Agents

Obama’s $75M Mortgage Relief Plan Dubbed Ambitious

February 19, 2009
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The $75 million mortgage relief plan announced by President Barack Obama in Arizona Wednesday has been criticized as too ambitious. The place chosen for the announcement is symbolic considering that it is the hardest hit by the housing problem. The plan aims to help 9 million Americans who are facing foreclosure proceedings. The federal government has stepped in the foreclosure problem considering that it has led to other factors making the recession more unbearable.

Obama said everyone will be paying a price for the mortgage crisis but a steeper price will have to be paid if they crisis is not curbed and is allowed to deepen. He said the crisis, which…

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Filed Under: Foreclosures

Construction Of New Homes Down

February 19, 2009
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Construction of new homes and applications for future projects both plunged to record lows in January as all parts of the country showed big declines in building activity. The sector is batting on new government programs to stop foreclosures and help stop the sliding construction statistics. According to the Commerce Department, construction of new homes and apartments dipped by 16.8% which is equivalent to about 466,000 units. This is way below the economist-projected 530,000 units for the said period.

Future construction activity may be predicted based on the applications for building permits. This also dipped down to 4.8% equivalent to 521,000 units which is not only below the expectations of economists…

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Filed Under: Economy Crisis, Real Estate Crisis, Real Estate Investment

Manhattan Harbor Development

February 19, 2009
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The over $1 billion Manhattan Harbor project which involves the development of a 142-acre area along the Northern Kentucky riverfront is expected to give the area’s real estate sector. The project, which is being developed by DCI Properties, the same firm which developed Cincinnati’s Waterfront East, aims to integrate the “great neighborhoods” concept which will include walkable streets, recreational opportunities, visual excitement, historic neighborhoods connection and great public gathering spaces.

Manhattan Harbor will feature 230,800 square feet of retail space which will include neighborhood parks, a marina and a 150-room hotel as well as 2,000 homes. At least 44 acres will be allotted for green space. There will be six housing…

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Filed Under: Manhattan Real Estate, Real Estate Investment
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