Tag Archives: Attorneys & Title Companies

San Francisco, San Jose, and Las Vegas metro areas were named as the top markets for sellers, while Chicago, Milwaukee, and Cleveland were categorized as markets where buyers have more power, according to a report released from Zillow Tuesday. In the top seller├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós markets, price cuts are uncommon and homes often sell for at or near their asking price. Sellers' markets were not necessarily ones where home values are rising, but places sellers are more likely to sell their home for close to asking price and where listings spend less time on the market.

In Mexico City, an architectural masterpiece has hit the market. Equestrian estate Cuadra San Cristobal, which was made famous by its award-winning designer, Luis Barragan, was recently listed for $12.3 million.

National home prices saw both quarterly and yearly gains in June, and all four regions across the U.S. posted quarterly increases, according to the Home Data Index (HDI) released by Clear Capital Tuesday. Home prices rose by 1.7 percent in June from the previous quarter and a year ago, and growth is expected to continue into the second half of the year at a rate of 2.5 percent, Clear Capital reported. Out of all four regions, the West saw the greatest quarterly increase at 3.5 percent, followed by the Midwest (1.2 percent), the South (1.5 percent), and the Northeast (0.8 percent).

The CFPB has officially proposed mortgage disclosure forms designed to enhance understanding. The forms are a result of research, testing, writing, and review and are being created to help consumers comprehend the terms of their mortgage and the costs involved. The proposed forms are part of the agency's Know Before You Owe project and are to be provided after applying for a loan and before closing."When making what is likely the biggest purchase of their life, consumers should be looking at paperwork that clearly lays out the terms of the deal," said CFPB Director Richard Cordray.

Aite Group is speaking out on contemporary issues in the commercial mortgage-backed securities (CMBS) marketplace. The company's senior analyst, John Jay, recently released his statements in response to a New York Times article evaluating the potential impact of pre-crisis commercial loans.

MountainSeed Appraisal Management, LLC, is targeting the commercial market with the launch of a new evaluation program. According to MountainSeed, the tool will make it easier for appraisers to extend commercial valuations to smaller lenders.

A Georgia bank closed Friday, with state authorities appointing the FDIC as receiver. The banker, accused of embezzling millions from the shuttered institution, remains missing after a two-week absence. Montgomery Bank & Trust, located in Alley, Georgia, closed its doors Friday, reopening as part of Ameris Bank. Ameris entered a purchase agreement with the FDIC to assume all of Montgomery Bank├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós deposits and about $12.4 million of its assets ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô mainly cash and cash equivalents, according to the FDIC.

In Montana, a real estate tycoon is looking to divest himself of a luxury, lakeside estate. Donald G. Abbey has listed his famed Whispering Rock property for $78 million, making it the fifth most expensive home for sale in the U.S.

In Maryland, Sunrise Senior Living, Inc., is taking advantage of the recent refinancing boom. The real estate company has announced changes to its loan for Bethesda's Fox HIll assisted living community, noting that Sunrise has opted to refinance the existing mortgage.

In Washington, D.C., the Real Estate Roundtable has announced its new roster of directors. The organization recently appointed members of the board for the 2013 fiscal year, and the Roundtable's incoming chairman and 21-person board began their terms on July 1.