{"id":1004018543,"date":"2010-03-24T07:43:36","date_gmt":"2010-03-24T15:43:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004018543"},"modified":"2022-12-05T16:30:45","modified_gmt":"2022-12-06T00:30:45","slug":"economy-watch-existing-home-sales-take-another-dip","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/","title":{"rendered":"Economy Watch: Existing Home Sales Take Another Dip"},"content":{"rendered":"<p>March 24, 2010<br \/>\nBy Dees Stribling, Contributing Editor<\/p>\n<div id=\"attachment_1004018544\" style=\"width: 160px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004018544\" data-attachment-id=\"1004018544\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/lavocadosbcglobal-net\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg\" data-orig-size=\"500,404\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"lavocado@sbcglobal.net\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user lavocado@sbcglobal.net&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg\" alt=\"\" title=\"lavocado@sbcglobal.net\" width=\"150\" height=\"150\" class=\"size-thumbnail wp-image-1004018544\" \/><\/a><p id=\"caption-attachment-1004018544\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user lavocado@sbcglobal.net<\/p><\/div>\n<p>Sales of existing U.S. homes dropped 0.6 percent in February according to the National Association of Realtors on Tuesday. That represents a seasonally adjusted annual rate of 5.02 million units, the lowest since last summer, and the third monthly drop in a row. Some markets registered gains, however; in particular, existing home sales in the Midwest Existing-home sales in the Midwest increased 2.8 percent.<\/p>\n<p>Unsold inventory nationwide went up during February according to the organization. That month some 3.59 million existing homes were for sale, an 8.6-month supply, up from 7.8 months in January.<\/p>\n<p>The ever-optimistic chief economist at NAR, Lawrence Yun, floated the idea that the snows of February might have kept some homebuyers in their old homes for the time being: &#8220;Some closings were simply postponed by winter storms, but buyers couldn\u2019t get out to look at homes in some areas and that should negatively impact near-term contract activity,\u201d he said in a statement, though he also said that the housing recovery is &#8220;fragile at the moment.&#8221;<\/p>\n<p>B of A Taken to Court for Loan Non-Modification<\/p>\n<p>Two Washington state homeowners are taking Bank of America to court for not being particularly interested in modifying their mortgage despite its acceptance of $25 billion in bailout funds. The case, filed in U.S. District Court in Seattle, claims that the bank is systematically thwarted the homeowners&#8217; requests to make mortgage adjustments that would prevented their home from being foreclosed.<\/p>\n<p>According to the complaint, Bank of America played dirty pool with Seattle residents Kamie and Daniel Kahlo, who were told they could get a modification, but later discovered that no changes were actually made to their mortgage. <\/p>\n<p>&#8220;Bank of America came up with every excuse to defer the Kahlo family from a home loan modification, from stating they &#8216;lost&#8217; their paperwork to saying they never approved the new terms of the mortgage agreement,&#8221; said Steve Berman, managing partner of Hagens Berman Sobol Shapiro, the lawyers handling the suit. &#8220;And we know from our investigation this isn&#8217;t an isolated incident.&#8221;<\/p>\n<p>Florida RE Blues Inspire German-Retiree Vigilantism<\/p>\n<p>Three German retirees have been sentenced to various terms in prison or probation for kidnapping their American investment advisor in an ill-thought-out bid to recoup some $1.4 million of theirs that they say he lost. The retirees abducted James Amburn in the German city of Speyer last June and forced him to send a transfer order for more than $2.7 million to their accounts from his bank in Zurich.<\/p>\n<p>The joke was on them, since there was no money in that account, and police freed Amburn after he managed to fax a plea for help. How had he supposedly lost money for the retirees? In Florida real estate.<\/p>\n<p>Wall Street had an up day again on Tuesday, with the Dow Jones Industrial Average gaining 102.94 points, or 0.95 percent. The S&amp;P 500 was up 0.72 percent and the Nasdaq advanced 0.83 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales of existing U.S. homes dropped 0.6 percent in February according to the National Association of Realtors on Tuesday.<\/p>\n","protected":false},"author":936,"featured_media":1004018544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742],"tags":[],"class_list":["post-1004018543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Economy Watch: Existing Home Sales Take Another Dip - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Existing Home Sales Take Another Dip\" \/>\n<meta property=\"og:description\" content=\"Sales of existing U.S. homes dropped 0.6 percent in February according to the National Association of Realtors on Tuesday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-03-24T15:43:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T00:30:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"404\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/\",\"name\":\"Economy Watch: Existing Home Sales Take Another Dip - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg\",\"datePublished\":\"2010-03-24T15:43:36+00:00\",\"dateModified\":\"2022-12-06T00:30:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg\",\"width\":\"500\",\"height\":\"404\",\"caption\":\"Courtesy Flickr Creative Commons user lavocado@sbcglobal.net\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy Watch: Existing Home Sales Take Another Dip\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249\",\"name\":\"Allison Landa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"caption\":\"Allison Landa\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Economy Watch: Existing Home Sales Take Another Dip - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/","og_locale":"en_US","og_type":"article","og_title":"Economy Watch: Existing Home Sales Take Another Dip","og_description":"Sales of existing U.S. homes dropped 0.6 percent in February according to the National Association of Realtors on Tuesday.","og_url":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2010-03-24T15:43:36+00:00","article_modified_time":"2022-12-06T00:30:45+00:00","og_image":[{"width":500,"height":404,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg","type":"image\/jpeg"}],"author":"Allison Landa","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/","url":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/","name":"Economy Watch: Existing Home Sales Take Another Dip - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg","datePublished":"2010-03-24T15:43:36+00:00","dateModified":"2022-12-06T00:30:45+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg","width":"500","height":"404","caption":"Courtesy Flickr Creative Commons user lavocado@sbcglobal.net"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-existing-home-sales-take-another-dip\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Economy Watch: Existing Home Sales Take Another Dip"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249","name":"Allison Landa","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","caption":"Allison Landa"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/03\/lavocado@sbcglobal.net_.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004018543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/936"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004018543"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004018543\/revisions"}],"predecessor-version":[{"id":1004620101,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004018543\/revisions\/1004620101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004018544"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004018543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004018543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004018543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}