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Big State in Texas joins a lot of real estate agents
Monday, 18 September 2006
As real estate becomes more and more in demand, Texans are motivated to get their license.  Despite the rush there is still plenty of room for many.  “The number of active real estate licensees provides a measure of the relative size of the real estate brokerage industry through the years and across state boundaries,” said Charles Gilliland, research economist with the Real Estate Center at Texas A&M University. “Among the largest states, Texas lags California, Florida and New York in total active licensees.”
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Acquisition of Trizec shareholders pursued
Monday, 18 September 2006
(AP) — Trizec Properties Inc., a Chicago-based real estate investment trust that develops office space, on Tuesday said its shareholders approved the company's $4.8-billion takeover by Brookfield Properties Corp.
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Appraisers look beyond housing comparables
Monday, 18 September 2006
In cooling real estate markets, it's the hottest question: How do you value a specific piece of property when local home sales are down 20 percent to 40 percent from last year, inventories of unsold homes have ballooned by 200 percent or more, and all the trend lines are pointing negative?
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Realtors choose from jump ship or pink slip
Monday, 18 September 2006
NEW YORK - America’s real estate agents and mortgage lenders jump ship or receive the pink slip.  Deterioration of the glory days of the most recent US housing market takes a toll on employees who profited from its record-breaking five-year run.  With home sales slumping and loan demand diminishing, layoff announcements and resignations have become increasingly common, evidence that the sector's slump is broad.
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Owners take up new housing laws
Monday, 18 September 2006
To favor middle and low income urban residents, China is expected to adopt new housing policies.  An important adjustment is to split current affordable apartments into two types namely, those for sale and those for rent.  This will then create the backbone of the nation’s housing assurance system in the future.
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Listing Agent as a strategy in a Buyers’ Market
Monday, 18 September 2006

As a growing number of housing markets shift into low gear, sellers are beginning to find their backs against the wall.  Home prices are falling, sales are stalling and buyers are calling for concessions.   Good help really isn't hard to find, provided you take care to hire a real estate agent best suited for you, the market and the home you want to sell.

GMAC Real Estate supplied a list of tips for successful real estate agent selection and we asked agents from other companies and other real estate professionals to chime in with suggestions you may not always get.

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Designing Homes in oasis style
Monday, 18 September 2006
Today, many homeowners are turning sunrooms into home offices, second bedrooms, and extra sitting rooms. Inside sunrooms homeowners are building pools, spas and other relaxing amenities. A sunroom is different from a standard room addition because of the panoramic view that you can achieve with a sunroom, you get the real feeling of having an outdoor feeling but being protected from the temperature, the bugs.
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Energy costs and Interest rates cause foreclosures
Friday, 15 September 2006
Foreclosure rates in the second quarter were highest for "subprime" borrowers - people with weaker credit records who are considered higher risks - who have adjustable-rate mortgages. Even with the increase, the new foreclosure figure is still low by historical standards and thus not overly worrisome to lenders. But it suggests that some borrowers are feeling pinched.
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City houses to be demolished
Friday, 15 September 2006

City officials approved a plan yesterday to spend $10.7 million to tear down more than 400 housing units in some of Baltimore's most neglected neighborhoods.

Though many of the projects are under way, supporters said the city's financial commitment will jump start the effort by paying for the purchase and demolition of residential properties - most of which are vacant - that can then be combined into larger parcels that are easier to develop.

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Real Estate private equity hits fund raising
Friday, 15 September 2006
NEW YORK - Real Estate private equity funds are in for another record-setting year as stable, healthy returns continue to attract investors.   By the end of August, 46 real estate private equity funds had closed their fund-raising doors with $32 billion raised among them. With 58 new funds still on the road targeting another $27 billion, 2006 is bound to break last-year's record of $45 billion, the report said.
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Mortgage rates plunge to levels
Friday, 15 September 2006
McLEAN, VA --  Primary Mortgage Market Survey (PMMSSM) released today the results of the 30-year fixed-rate mortgage, which averaged 6.43 percent with an average 0.5 point for the week ending in September 14.   The 15-year FRM this week averaged 6.11 percent with an average 0.4 point, down from last week when it averaged 6.16 percent. A year ago, the 15-year FRM averaged 5.32 percent.
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How to prevent foreclosure of Home Ownership
Friday, 15 September 2006
It remains historically low for the 115,292 homes nationwide entering the stage of foreclosure.  The rate of increase in the number is alarming.  This could be because of the nasty mortgages IEDs (Improvised Equity Devices), high leverage and high risk loans.  Mortgage IEDs are typically ARMs, in a host of varieties that typically start off with low rates, but, in this market, continually adjust upward.
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Steeper housing market slowdown is evident IMF sees
Thursday, 14 September 2006

There is a risk that the US slowdown could be more severe as the housing market gets sharper than expected.  This is foreseen in global growth and financial markets.

The hope is that there will be a soft landing, which would produce weaker US growth with negative implications for financial markets. 
 

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