Investor’s Business Daily - Chaos in the housing market has spoiled the fun for some of real estate’s biggest cheerleaders: flippers. In a rising market, they could buy, work their makeover magic and sell for a tidy profit — over and over. Read More…
AP - Rates on 30-year mortgages rose for the first time this year after four straight weekly declines. Read More…
nPlease check out this week’s cover story in BusinessWeek and let me know whether you agree or disagree with it. nn I just finished it yesterday, but there are already a few thoughts I would like to add. They should give some comfort to the real estate agents and home sellers who will undoubtedly hate this […]
Reuters - Florida has subpoenaed nCountrywide Financial Corp as part of a widening ninvestigation into subprime lending practices, the state’s nattorney general said on Thursday. Read More…
nn Dubai real estate developer, Damac Properties, is actually giving away a free Bentley Continental Flying Spur with every purchase of a penthouse or “signature duplex” luxury condo, according to the Helium Report. The cars sell for more than $200,000. I wonder how much the condos cost? n Read More…
Less than 48 hours after it was specifically named as a target of a nstate investigation of major bond rating agencies and insurers, nMBIA announced a record quarterly loss after writing ndown $3.5 billion. Read More Now nn Read More…
The Fed initiates another whopping rate cut. Too late to save Countrywide, whose deal to be acquired by Bank of America still looks like a go. The nation’s largest mortgage lender released its year end numbers on Jan. 29. The company didn’t hold a conference call to discuss them. No need, they’re gone. nn The big startling […]
AP - Profits fell at Japanese megabanks Mitsubishi UFJ Financial Group and Mizuho Financial Group in the nine months through December because of exposure to the U.S. subprime mortgage crisis. Read More…
AP - Japanese stocks rose Thursday as reports that a troubled U.S. bond insurer had closed an investment deal helped to ease concerns about the subprime loan crisis. Read More…
Developer R. C. Hedreen has filed applications with the city to demolish the downtown Seattle Greyhound bus station and build a 51-story… Read More…