Archive for April 15th, 2008

Foreclosure Rate In U.S. Accelerating

From Bloomberg this morning:  [Thanks G!] April 15 (Bloomberg) — U.S. foreclosure filings jumped 57 percent and bank repossessions more than doubled in March from a year earlier as adjustable mortgages increased and more owners gave up their homes to lenders. More than 234,000 properties were in some stage of foreclosure, or one in every 538 U.S. households, Irvine, California-based RealtyTrac Inc., a seller of default data, said today in a statement. Nevada, California and Florida had the highest foreclosure rates. Filings rose 5 percent from February. About $460 billion of adjustable-rate loans are scheduled to reset this year, according…
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CEO of ARMLS Responds To "Secret" Bonus Remarks

On April 12 we posted a news story done by Brahm Resnik on the practice by the Arizona Multiple Listing Service (ARMLS) of forbidding any bonuses offered to buyers agents not being permitted in the realtor remarks.  Yesterday Bob Bemis, CEO of ARMLS, posted a response.  In fairness to Mr. Bemis, I thought I would repost his remarks, rather than leaving them at the bottom of an older thread: Sorry to be the cause of your choking and sputtering. There are two problems with TV news: is it doesn’t have enough time to tell the whole story and it is…
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