Homester.com Web News Archive

Saks’s Ability to Tap Real Estate Hurt by Market Drop (Update2) (Bloomberg) - March 4 (Bloomberg) -- Saks Inc. Chief Financial Officer Kevin Wills told investors the unprofitable luxury retailer has “very valuable” real estate assets it could tap to raise money if needed.

Fed’s Lockhart Warns of Commercial Real Estate Ills (Update1) (Bloomberg) - March 4 (Bloomberg) -- Federal Reserve Bank of Atlanta President Dennis Lockhart said falling property values and other problems in commercial real estate may worsen prospects for U.S. banks facing losses from tumbling home prices.

Real estate agents decry tight lending (The State) - Some Hilton Head Island real estate agents say banks have gone too far in tightening lending standards, causing potential home buyers to walk away.

James Bond star Sean Connery sued over multi-million dollar real estate deal (New York Daily News) - Former James Bond star Sean Connery is getting sued over a real-estate deal allegedly gone bad.

Atlanta Fed chief concerned about commercial real estate (BizJournals) - The president and CEO of the Federal Reserve Bank of Atlanta, expressed his concern that the commercial real estate sector is weakening, but said he hopes that a federal program will revive the securitization market to finance those properties.

The President Unveils Real Estate Rescue Plan (KIAH-TV Houston) - President Obama unveiled the details today of his real estate rescue plan. The plan is designed to help as many as nine million Americans struggling to hold on to their homes. The price tag for the government's plan to fix the foreclosure crisis?  75 billion dollars. The plan has two main solutions: more refinancing opportunities, and targeting homeowners in danger of foreclosure. The Saldivar ...

State official says local real estate group hampering fraud investigations (Colorado Springs Gazette) - The state's top real estate cop subpoenaed the Pikes Peak Association of Realtors for access to its Multiple Listing Service database on Wednesday, accusing the group of hindering her agency's investigations into local cases involving millions in fraudulent loans that left buyers with ruined credit and sent homes into foreclosure.

China pledges to keep real estate market stable (People's Daily) - China will take measures to stabilize real estate market confidence while promote "orderly development" of the industry, Premier Wen Jiabao said Thursday morning. Wen made the remarks in the government work report delivered to nearly 3,000 lawmakers at the annual session of the National People's Congress, the country's top legislature. "We will adopt even more vigorous and effective policies and ...

China pledges to keep real estate market stable (China Economic Net) - China will take measures to stabilize real estate market confidence while promote "orderly development" of the industry, Premier Wen Jiabao said Thursday morning.

First-half real estate taxes are due Friday (Springfield News-Sun) - The final date to pay first-half real estate taxes without a penalty is Friday, March 6.