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Today's Industry News Saturday, October 11, 2008

Research fresh real estate market news hourly. Today's top stories for the real estate industry and real estate web sites. Find practical news exclusive to your state, specifically targeted for market savy individuals such as agents and brokers who need the latest market reports and news releases.

Real Estate Agents in the News
A veteran real estate agent in the capital region predicts that prices will keep going up - about 15 per cent a year for the next three years. Jim Burton of RE/MAX sees no sign of things slowing down in the St.John's area.
Dallas real estate agent Betty Mayes knows all too well about the sluggish Texas economy. But wait, do the math. Betty sells homes. She has clients to buy those homes. So what's the problem?
AUSTIN, Texas (KXAN) -- Sellers are dropping prices by the tens of thousands, and real estate buyers are scooping up great deals, according to Austin Real Estate Agent Jay Carter. "Get ready, folks," said Carter in an entry on his blog.
Real estate agent Carl Cole will keep his license until mid-November. His attorney, Glenn Kottcamp, filed a 30-day request to the state Department of Real Estate, a prelude to asking regulators to reconsider the decision to revoke Cole's real estate license. Cole's license was set to be revoked Oct. 15, but that's been extended until Nov. 14, Kottcamp said Friday. Cole and partner David Crisp ...

Real Estate Brokers in the News
A new variation on the apartment rent in cash scam: The NY Post reports a woman was swindled out of $100,000 (meant for two apartments at 410 West 53rd Street) by the broker she met on Craigslist who "legitimately rented her a different Manhattan home two weeks before." Ah, the ol' reel them in and then scam them. The client says broker Leif Lopez showed her the apartments, which she ...
DUBLIN, Ireland----Research and Markets has announced the addition of the "2009 U.S. Real Estate Agents & Brokers Industry Report" report to their offering.
ISELIN, N.J.----Sitar Company, a leading New Jersey commercial real estate firm, today announced that Joseph Nitti, Douglas J. Sitar and William Sitar III have been named "2008 All-Star Commercial Real Estate Brokers" by Real Estate New Jersey.
A federal judge has accepted the guilty plea of a real estate broker tied to the mortgage meltdown that crippled Coast Bank of Bradenton.

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Terms of the Day

Residential Sales Council
A not-for-profit affiliate of the NATIONAL ASSOCIATION OF REALTORS®. The Council awards the Certified Residential Specialist (CRS) Designation, to experienced members who have completed an advanced course of study in residential real estate.

Closing Costs
The numerous expenses which buyers and sellers normally incur to complete a transaction in the transfer of ownership of real estate. These costs are in addition to price of the property and are items prepaid at the closing day. This is a typical list:

Foreclosure
A legal term applied to any of the various methods of enforcing payment of the debt secured by a mortgage, or deed of trust, by taking and selling the mortgaged property, and depriving the mortgagor of possession.