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| Sarasota low home prices spur return to bidding wars
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| Thanks to foreclosures, short sales and aggressive pricing, first-time buyers and investors are scrambling back into the market -- and sometimes find themselves competing with each other for deals. The Sarasota Association of Realtors reported pending sales in March numbered 817, the highest in three years. The Manatee Association of Realtors said its April pending sales were 417, the highest in the two years the group has tracked the figure.
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| @ Sarasota Herald Tribune | Posted: 05/07/09 at 0201 EDST
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| Daytonna Beach area area condo sales heat up
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| There were 273 condos sold in Volusia and Flagler counties in January through March, according to the Florida Association of Realtors.
That is more than the 244 sold in the first quarter of 2008. The largest condo builder in Flagler County, WCI Communities, sold 27 units in 2008 among its Hammond Dunes projects, according to deed filings with the clerk of the court. WCI has already sold 14 units through the first four months of this year.
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| @ Daytona Beach News Journal
| Posted: 05/07/09 at 0315 EDST
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| Experts believe end of recession is near
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| Despite some negative numbers, forecasters say the recession will be over by year's end.
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| @ Miami Herald | Posted: 05/07/09 at 0320 EDST
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| Collier County, Naples; foreclosures down in April
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| There were 759 filings last month, down from 796 in March, according to the Collier County Clerk’s Office. In February, there were 705 filings in the county. In January, there were 661.
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| @ Naple Daily News | Posted: 05/07/09 at 0330 EDST
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| On Wall Street, signs plant a seed of hope
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| Excitement over green shoots, even though they can be difficult to interpret, has propelled the S&P 500 index up more than 30 percent since March 9. Stocks have been lifted by hopeful signs that include figures showing residential real estate prices may be close to bottoming out. In addition, some high-profile companies across sectors recently have reported earnings that surpassed Wall Street's projections, though they were pessimistic expectations, to be sure.
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| @ Chicago Tribune | Posted: 05/07/09 at 0345 EDST
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| Tax breaks for corn-based ethanol threatened
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| The Obama administration proposed draft rules Tuesday that could undercut $3 billion a year in federal tax breaks for producers of corn-based ethanol, a move that sets the stage for a battle between Midwestern grain producers and environmentalists, who say the gasoline substitute worsens global warming.
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| @ Chicago Tribune | Posted: 05/07/09 at 0400 EDST
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| Is the economy really showing signs of recovery?
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| Spring is the season of rebirth, so it was fitting that Ben Bernanke, chairman of the Federal Reserve Board, in mid-March told 60 Minutes that he detected "green shoots" of economic recovery. Since then, the phrase "green shoots" has sprouted and blossomed. Analysts and journalists, desperate for any sign of hope, have taken to repeating the phrase "green shoots" as a soothing mantra. Economists are now walking around, eyes fixed on the ground like French rustics hunting for truffles, searching for verdant signs of growth.
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| @ Slate | Posted: 05/07/09 at 0415 EDST
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| Mortgage Applications Increase in Latest MBA Weekly Survey
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| The Market Composite Index, a measure of mortgage loan application volume, was 979.7, an increase of 2.0 percent on a seasonally adjusted basis from 960.6 one week earlier. On an unadjusted basis, the Index increased 2.4 percent compared with the previous week and 43.7 percent compared with the same week one year earlier. The Refinance Index increased 1.2 percent to 5169.3 from 5108.2 the previous week and the seasonally adjusted Purchase Index increased 5.0 percent to 264.3 from 251.6 one week earlier. The Conventional Purchase Index increased 5.5 percent while the Government Purchase Index (largely FHA) increased 4.4 percent.
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| @ Mortgage Bankers Association | Posted: 05/07/09 at 0419 EDST
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| The Treasure of the Sierra Madre
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The first three hours were hairy. A hulking gray armored truck pulled away from a new mine in Palmarejo, hauling the first load of silver and gold--a half-ton of cast doré bars worth $300,000--on its 1,200- mile trip, full of dizzying switchbacks and plunging cliffs, to the airport in Mexico City. From there it was shipped to Zurich, where the precious metals would be separated and refined. A critical journey for Coeur d'Alene Mines Corp., a tiny (2008 sales: $190 million) company run out of Idaho which hopes to double in size this year thanks to the mine in the Sierra Madre.
Editor's Comment: This is a good read, almost like a novel!
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| @ Forbes | Posted: 05/07/09 at 0646 EDST
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| The Perils of Global Banking
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| Selling through subsidiaries, banks have left investors across the globe holding potentially toxic bonds. Now governments may restrain foreign financial firms
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| @ Business Week | Posted: 05/07/09 at 0652 EDST
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| MPs slam ‘unrealistic’ Budget forecasts
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| Alistair Darling’s Budget forecasts that the recession would end this year and the economy start growing again were attacked yesterday by the Labour-controlled Treasury committee as not “realistic”. The bipartisan committee, which monitors economic policy, questioned whether the new higher tax rate of 50 per cent was an effective way to raise money and warned on the lack of restraints on public spending.
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| @ Financial Times - UK | Posted: 05/07/09 at 0655 EDST
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