Word: bankses
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In Los Angeles (and even in Miami), there is evidence that the housing market is lifting its head off the deck, even as foreclosures continue to pile up and prices edge downward. Properties are at least moving again there, many at 30% to 40% off even last year's lowered...
Oddly enough, though, talk of the Federal Government's possible mortgage bailout is beginning to slow things down. In Los Angeles, it has plugged the deal flow, because banks are now less willing to work things out since they suspect that Uncle Sam may offer better mortgage buyouts. "Recently, a...
There's a lot to do over. Today in the greater Miami area, there are 110,000 single-family houses, condos and townhouses for sale. Some 55,000 new foreclosures were filed in the first nine months of this year, and an additional 19,000 properties were taken back by...
Not all areas of the country are suffering equally. In Chicago last month, Donald Trump stood atop his new, 92-story condo-hotel tower just off this city's most prominent boulevard, Michigan Avenue. "There's an economic disaster going on in the country," Trump dryly acknowledged. "A lot of...
Across the country, buyers are finding the current "buyer's market" increasingly frustrating. Realtors say wait times for deals to close have gone up, and more and more buyers are walking away, even when they find prices attractive. "Banks are a mess," says Dawn Connelly, a real estate investor in...