Economists have been warning that a flood of foreclosures will soon be hitting the real estate market, likely this summer. Increases in foreclosures traditionally pull down nearby home prices. So should home owners be worried?
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Some real estate markets are reporting that home buyers are having to pay more than asking price to get the home they desire, as the supply of for-sale homes has shrunk, Bloomberg News reports.
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While the price of a home and its square footage are important factors in judging a home, women and men also base their decision largely on how they “feel” and whether the home fits their lifestyle, according to a new survey conducted by Coldwell Banker Real Estate.
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A $25 billion foreclosure settlement among the nation’s five largest banks and federal regulators isn’t the end to regulator’s efforts to repair the wrongs from lenders’ foreclosure abuses. Regulators are casting a wider net on the number of banks they’re eyeing to punish for wrongful foreclosure practices.
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More local REALTOR® associations already have, or are increasingly weighing consolidation of their groups into one larger association as a way to maximize benefits for members and decrease operating costs.
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As the leading advocate for homeownership and housing issues, the National Association of REALTORS® will join the nation in honoring Fair Housing Month this April.
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