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| New law protects renters
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The following scenario has been happening at an alarming rate these days: A family renting a house who has never been late on their monthly payments answers a knock on the door. When they open it their whole life take a nose-dive because it is a sheriff's deputy with an eviction notice. The officer explains that the landlord has been foreclosed upon and the lender wants the family out. Right now. Such evictions have come to an end, however, thanks to the Protecting Tenants at Foreclosure Act signed into law late last month by President Barack Obama.
Editor's Comment: This is a good read
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| @ Sarasota Herald Tribune | Posted: 06/26/09 at 0201 EDST
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| Daytonna Beach housing market on rise
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| Realtors in the two counties sold 653 single-family houses in May, up 8 percent from 607 in May 2008. It is the sixth straight month of increased sales in year-to-year comparisons and also the highest monthly total since 681 were sold in March 2007. Condominium sales increased 67 percent to 139 in May from 83 in May 2008
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| @ Daytona Beach News Journal | Posted: 06/26/09 at 0315 EDST
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| Home sales see turnaround in Jacksonville area
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| May brought good news to Jacksonville’s struggling real estate market. Realtor-brokered single-family home sales broke 1,000 in May - for only the second time since July 2007 - and showed a third upward move in four months. Realtor-brokered sales rose to 1,002 in May, up 23 percent from 813 in April and 7 percent from 938 in May 2008.
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| @ Jacksonville Times Union | Posted: 06/26/09 at 0320 EDST
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| Your New Online Pal? Your Realtor?
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| It seems you can't jump online and log in to Facebook without bumping into relatives, colleagues or old friends, and perhaps ... your neighborhood Realtor? The explosive growth of Facebook (www.facebook.com) - a free online social network with 200 million-plus users - and similar programs like Twitter (www.twitter.com) and MySpace (www.myspace.com) is proving to be an irresistible target for those in real estate.
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| @ Lakeland Ledger | Posted: 06/26/09 at 0330 EDST
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| Lennar upbeat in revenue slide
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| Lennar reported weak results in the quarter ended May 31 compared with the same period a year ago, it showed improvement from the first quarter. The home builder, one of the nation's largest, reported upticks in sales volume, homes under contract and new orders as compared with the first quarter. Lennar posted revenue of $892 million in the latest quarter, a 21 percent decline from $1.13 billion a year ago. The rate of decline, though, was Lennar's lowest since the first quarter of 2007
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| @ Miami Herald | Posted: 06/26/09 at 0345 EDST
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| Reverse mortgage debate in overdrive
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The warning bells sounded pretty loud and clear earlier this month when a top banking regulator compared the potential risks of reverse mortgages with the subprime lending crisis. In a speech to bankers, John Dugan, comptroller of the currency, warned of concerns that seniors may fall victim to marketing pitches and investment schemes and be unaware of the high cost structure of these complicated financial instruments.
Editor's Comment: Please read the entire article. Dugan simply stated his personal opinion, which is unsubstantiated.
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| @ Chicago Tribune | Posted: 06/26/09 at 0400 EDST
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| Joining the club
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| Networking websites are booming, but they have not supplanted more traditional business networks
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| @ The Economist | Posted: 06/26/09 at 0415 EDST
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| Real gross domestic product decreased at an annual rate of 5.5 percent in the first quarter of 2009 compared with 4th quarter 2008
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| In the fourth quarter, real GDP decreased 6.3 percent. The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, equipment and software, private inventory investment, nonresidential structures, and residential fixed investment that were partly offset by a positive contribution from personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, decreased.
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| @ Bureau of Economic Analysis | Posted: 06/26/09 at 0419 EDST
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| Mexico Cuts Interest Rate for 6th Time this Year
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| Mexico's central bank cut its benchmark interest rate by a half-percentage point on Friday, signaling that it may be approaching its last rate cut of the year as it seeks to revive growth and help the country emerge from deep recession. The bank slashed its interbank lending rate to 4.75 percent from 5.25 percent, its sixth rate cut this year.
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| @ Bandaras News Puerto Vallarta, MX | Posted: 06/26/09 at 0646 EDST
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| Dollar Drops, Set for Weekly Loss Versus Euro, as Stocks Gain
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| The dollar fell, heading for its biggest weekly loss against the euro in a month, as European and Asian stocks rose and traders added to bets the Federal Reserve will keep interest rates low. The dollar slid against 13 of the 16 major currencies.
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| @ Bloomberg News | Posted: 06/26/09 at 0652 EDST
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| The state of Britain
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Government expenditure will soon account for almost half of the UK economy. One in five of Britons now works for the state; more than one in twenty work for the National Health Service. Only in world wars or when it owned the commanding heights of industry has the British state assumed such importance. From the National Health Service, the world’s third largest employer, to the 21 concrete mixers owned by the Ministry of Defence, the public sector reaches almost every area of people’s lives.
Editor's Comment: This is an excellent read.
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| @ Financial Times - UK | Posted: 06/26/09 at 0655 EDST
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