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The property mirage that defined a decade
http://www.independent.ie/lifestyle/the-property-mirage-that-defined-a-decade-29942139.html
The property mirage that defined a decade 'Against stupidity, the gods themselves contend in vain," observed the German poet-philosopher Frederich von Schiller. Welcome to Ireland in the Noughties, when the country mutated into a new entity best described as Irelandistan.

Wells Fargo Selling 42 Smaller Regional Insurance Offices to USI
http://www.insurancejournal.com/news/national/2014/01/24/318278.htm
Wells Fargo & Co., the largest U.S. home lender, has agreed to sell more than 40 percent of its insurance brokerage locations to focus bricks-and-mortar operations on higher-growth regions and bigger clients. Lexington, Louisville; (Mich.) Grand

Fitch: Raised Countercyclical Buffer Eases Swiss Property Risks
http://www.reuters.com/article/2014/01/23/fitch-raised-countercyclical-buffer-ease-idUSFit68649120140123
A larger capital cushion for unexpected losses will help offset the build-up of credit risks at banks from a mortgage market growing more quickly than GDP. Mortgage loans increased by 4.4% on an annualised basis in the first nine months of 2013

Pacific Continental Corporation (PCBK): Pacific Continental's CEO Discusses Q4 ...
http://seekingalpha.com/article/1964611-pacific-continentals-ceo-discusses-q4-2013-results-earnings-call-transcript
Such forward-looking statements including statements about suggested future profitability, loan growth, problem asset resolution, changes in the net interest margin, and anticipated cost savings, results, and performance of acquisitions of other

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Interest rates and other troubling signs give Lane County housing market some jitters

“They are still in the driver seat but you have to do smart real estate,” said Marcia Edwards, a real estate broker in Eugene. ”Pricing is going to become strategic.”

Edwards, with Windermere Real Estate, says it's just taking a little longer for some sales to happen.

“A decrease is not necessarily bad,” said Edwards. “In fact, it can be very good because what we're looking at is a sustainable marketplace. We've got in every transaction, we have a buyer and a seller.”

The drop was from $290,000 in October, to just over $277,000.

What about those recent interest rate hikes from the fed?

“They've been a threat but they haven't had a big impact,” said Edwards. “People that are refinancing have settled into their spot.”

For mortgage lenders locally, fed action has apparently not hurt their business.

“Really, the higher interest rates are not affecting peoples' payments as much as they thought it would,” said Denise Montgomery. “So they are continuing to buy and refinance.

Back from the Dead

Jonathan Baker bought his house in Eugene’s Jefferson Westside neighborhood for a dollar.

The previous owner’s husband had died in 2010, and after 18 months of disagreement about mortgage payments with JP Morgan Chase Bank, she abandoned the house. From 2012 to the end of 2015, the house lay vacant, wasting away, undead — a zombie house.

When a homeowner ceases mortgage payments, banks often fail to maintain the property post-foreclosure and sometimes even stop foreclosure proceedings — without notifying the owner after the house is empty. The defaulted property racks up fines as well as the costs of maintenance, security and legal fees.

When banks keep possession but cede responsibility for maintenance, the resulting zombie houses stress delinquent owners, create a persistent neighborhood blight and often cost cities and counties money.

“We have not dealt with the wreckage of the 2008 housing crisis. Buying these homes out of foreclosure and short sales is very difficult,” Ted Coopman says. Coopman is a Jefferson Westside Neighbors councilor.