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Unfinished Homes a Sad Symbol of Real Estate Downturn
 RISMEDIA, March 13, 2010—(MCT)—The listing describes the new, six-bedroom, six-bath Colonial on Timberlane Road in Upper Saddle River, N.J., as “spectacular.” With an asking price of almost $1.6 million, it’s a “must see,” the listing says.
But up close, the picture…
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Jumbo Mortgage Market Beginning to Thaw
RISMEDIA, March 13, 2010—(MCT)—Phil Kelly had 18 more months to go before the fixed rate on his $2.5 million mortgage became adjustable. But when Kelly, a former computer executive living in Rancho Santa Fe, California learned he could knock his interest…
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Renters: 6 Ways to Spruce Up Your Space
RISMEDIA, March 13, 2010—(MCT)—The new American dream: Renting, until the dust settles. More Americans are renting homes and giving up on home ownership—at least for now. Job loss and foreclosures are forcing some folks out of their family homes and…
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Government Urges Short Sales; Experts Aren’t Sure They’ll Help
RISMEDIA, March 12, 2010—(MCT)—With the highly touted federal mortgage-modification program falling short of its target numbers, the government has looked into alternatives to foreclosure and come up with a possible, though not original, solution: the short sale, a transaction in which…
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MBA Report Shows 1 in 10 Mortgages Now Delinquent or in Foreclosure
RISMEDIA, March 12, 2010—The Mortgage Bankers Association (MBA) recently reported that serious mortgage delinquencies- those at least 90 days past due or in foreclosure- remained at record levels in the fourth quarter of 2009. These latest statistics show that one…
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U.S. Foreclosure Activity Decreases 2% in February 2010
RISMEDIA, March 11, 2010—RealtyTrac, a leading online marketplace for foreclosure properties, released its February 2010 U.S. Foreclosure Market Report, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 308,524 U.S. properties during the month, a decrease of…
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Appraisal Institute Opposes Obama Administration’s Plan for Homeowner Short Sales
RISMEDIA, March 11, 2010—Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers recently voiced their opposition to changes to an Obama administration program that will encourage short sales of homes. The coalition was led by…
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Home Values for Older Americans Begin to Rebound in Fourth Quarter 2009
RISMEDIA, March 10, 2010—Golden Gateway Financial, a financial resource for seniors and retirees, recently released new usage data from its online Reverse Mortgage Calculator that showed average home values for older Americans have halted their slide after remaining flat or declining…
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NAHB Commends President’s Proposed Energy Efficiency Incentives
RISMEDIA, March 9, 2010—Home energy efficiency incentives proposed by President Barack Obama will create much-needed jobs and help make America more energy independent, according to the National Association of Home Builders (NAHB).
Speaking recently in Savannah, GA., President Obama outlined a…
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Buyers Shift More Firmly into Driver’s Seat during January 2010
RISMEDIA, March 8, 2010—For the second month in a row, home buyers across much of the country negotiated bigger discounts off the last listing price of homes than they had the prior month, according to new data from real estate website…
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