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Real Estate & Property Law

: Housing Wire

Foreclosures Boost Sales, Drag Prices

By DIANA GOLOBAY

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So-called “distressed” sales including foreclosures and short sales accounted for nearly half of all transactions tracked in Q109 by the National Association of Realtors (NAR). The heavy ratio of distressed sales, which traditionally fetch about 20% less than non-foreclosures, pulled down median home prices in most markets. Of the 152 metropolitan statistical areas (MSAs) tracked by [...]

Full post as published by Housing Wire on May 12, 2009 (boomark / email).

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KB Home and Countrywide Financial Corp.
allegedly conspired with appraisers to boost housing prices as the market crashed.

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has agreed to pay $137.5 million to settle a securities lawsuit claiming the company artificially inflated sales to boost its stock price.

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