My mom's family has one of these towers in Guangdong province and it is also in disrepair since her family there doesn't take care of it. It was on its way to getting protected status and money from the government, but the people living there have to move out - which so far they have not agreed to.

Quoted: Towers and mansions built in the early 20th century by wealthy overseas Chinese are being left to rot as relics of a bygone age.

Short sales and foreclosures affect homeowners differently depending on individual situations, but the experts generally agree that short sales are less damaging to one's credit.

Quoted: You have to keep in mind that credit scoring is accumulative, everything is factored to come up with those three scores that are suppose to reflect your current credit. The only real good news about credit scoring is that your scores are temporary–they are changing constantly. Pay down a credit card, establish good payment history on your installment loan and your scores will improve over time.

Quoted: A second piece of legislation, House Resolution 3854, passed the House of Representatives and was referred to the Senate Committee on Small Business and Entrepreneurship this week. It amends the Small Business Act and the Small Business Investment Act of 1958 that, among other things, would authorize the small business administration to originate loans to homeowners of properties built with Chinese drywall to pay for its repair or replacement.

It's about time measures to incentivize banks and home owners to get short sales done is introduced.

Quoted: HAFA allows the borrower to receive pre-approved short sale terms before the property is listed and frees them from future liability for the debt. Also, servicers utilizing the program are prohibited from requiring a reduction in the real estate commission agreed to in the listing agreement. The borrower also receives a $1,500 incentive for relocation after the transaction. The servicer receives a $1,000 incentive to cover administration and processing costs, and investors will be paid a maximum of $1,000 for allowing up to $3,000 in short-sale proceeds to be paid out to subordinate lien holders. In total, each transaction under HAFA will cost the Treasury up to $3,500 of incentive payments.

Quoted: <p>There are more than 400 parks and open spaces in Seattle. While everyone has their favorites, there are dozens you've probably never heard of.</p>

Negative equity is increasing in American Households, which has and will continue to affect consumer spending. Another concern is a further increase in distressed properties that will lead to more declines in pricing.

Quoted: "First American CoreLogic, which estimates the numbers many media outlets use, has changed its methodology from the last survey. It now no longer assumes that home equity lines of credit have been completely drawn down (fair), and it credits payments that mortgagors have made to pay down their principal (duh). The net result is that the housing situation looks better than it did a few months ago. Still bad, but better."

Quoted: Among Washington cities, Tacoma is No. 34, Kent is No. 83, Among Washington cities, Tacoma is No. 34, Kent is No. 83, Yakima is No. 88, Everett is No. 90, Spokane is No. 121, Federal Way is No. 141, Vancouver is No. 215, Spokane Valley is No. 261, Bellingham is No. 286, and Bellevue is No. 343.

The worry is that, just like the cash for clunkers program, we're attracting all first-time buyers to buy now to buoy the health of the market, but that will reduce the amount of first-time buyers down the road, which could again hurt the market.

Quoted: Thanks in part to an $8,000 tax credit, first-time buyers accounted for a record 47 percent of all home purchases this year, according to the National Association of Realtors.

Quoted: The problems started after mortgage giants Freddie Mac and Fannie Mae decided to take steps earlier this year to limit exposure in what it viewed as a risky lending segment that’s been loaded with foreclosures, Sachenbacher says.
As a result, the two biggest insurers of mortgage loans now require 70% of a condo property’s units to be sold, up from 51% less than a year ago, before it will insure or buy the loan, thereby allowing it to be sold on the secondary market.