Mortgage Applications Surge 9.2% - Mortgage applications soared 9.2 percent last week, as more Americans sought to take advantage of record low mortgage rates, according to the Mortgage Bankers Association’s weekly report.
(Wall St, 05/18/12)
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Foreclosures Plummet to 5-Year Lows - For the third consecutive month, foreclosure filings dropped, sinking to their lowest level since July 2007, according to RealtyTrac’s April report on nationwide foreclosure activity.
(CNNMoney, 05/18/12)
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Positive Signs Abound for Housing - The first quarter of 2012 was the best first quarter for real estate in five years, and pending contracts suggest that the second quarter of 2012 will be the best second quarter in five years, NAR Chief Economist Lawrence Yun said this morning at the Residential Economic Update during the NAR Midyear Legislative Meetings & Trade Expo.
(Realtor Magazine, 05/18/12)
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De Facto Property Management Creates Agent Risks - When clients must move before their house is sold and they ask you to take care of their property in their absence, it's tempting to say yes. After all, you want to remain on good terms with them and get the future sale. But saying yes to such a request comes with a slew of pitfalls that attorneys Glen Kimball and Thomas Gregory of the Philadelphia law firm O'Connor and Kimball discussed at Wednesday's Risk Management and License Law Forum at NAR's Midyear Legislative Meetings and Trade Expo.
(Realtor Magazine, 05/18/12)
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