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STORIES:
HOA
Installs Radar, Issues Speeding Tickets - (www.consumerist.com) With no one but themselves to
police the speed limits of their gated a community, a homeowners association in
Colorado has set up a radar system and begun issuing tickets to speeders. Drivers
caught violating the max. 30 mph speed limit in the community will be subject
for fines from anywhere from $15 to $100, depending on how fast they are
driving. If the violating driver is a visitor of the subdivision, their ticket
will be given to whichever homeowner they are visiting at the time. As you
might expect with most HOA restrictions, some residents are not thrilled. “It’s just a little bit overboard for a
private community to be policing themselves,” one homeowner tells CBS Denver. Another
resident, who says she was almost hit twice in a night by speeding cars is
still against the measure. “No, that’s outside the boundaries of what the HOA
was established to do,” she explains. “That is within the boundaries of what
the law is supposed to do.”
Realtors
object to bulk foreclosure sales which do not pay Realtors commissions - (www.mercurynews.com) California Realtors are
strongly objecting to the bulk foreclosure sale program and calling for a
change of leadership at the Federal Housing Finance Agency, the agency that
initiated the pilot program. In a recent statement, the California Association
of Realtors objected to the Nov. 5 REO bulk sale transaction between Fannie
Mae, the FHFA and Colony Capital. The Santa Monica real estate investment
company won an auction by the federal government to purchase 970 foreclosed
homes in California, Arizona and Nevada from Fannie Mae for $176 million. "Fannie
Mae and FHFA's decision to move forward with the REO bulk sale in California
amounts to another gift to Wall Street at the expense of taxpayers," said
the state group president, LeFrancis Arnold. "The deal, which calls for
the sale of more than 400 foreclosed homes in Los Angeles and the Inland
Empire, not only hurts taxpayers and prospective home buyers, but will also
delay a full recovery in the housing market."
Million
dollars for a mice infested shack! - (www.cbc.ca)
A severe mouse infestation of
a million-dollar Winnipeg home has shocked people across the country, but a
local biologist says he's not surprised. The CBC News story from Monday has been viewed more than
100,000 times and commented on by more than 300 people as of
Tuesday. Many who saw the story expressed disbelief that a problem could be so
widespread without anyone knowing sooner. But James Hare, a biological sciences
professor at the University of Manitoba, says once mice get into a nesting
place, they start breeding fast — having up to five litters of six mice in a
year — and can stay quite well hidden. And the mice can always find enough food,
he said. "They could forage for anything, you know plant material, they'll
eat insects as well, whatever they can get. So there'd be lots for them to
eat," Hare said.
German Notes Sold at Negative Yield on Greece, U.S. Concern
- (www.bloomberg.com) Germany sold two-year notes at a
negative yield for the second time on record, with the Federal Finance Agency
saying the debate over Greece’s fiscal sustainability boosted demand for the
securities. The nation auctioned 4.3 billion euros ($5.5 billion) of the debt
at an average yield of
minus 0.02 percent, down from 0.07 percent when similar-maturity debt was
offered on Oct. 17, according to a statement from the Bundesbank today. It’s
the first time since July the rate has been below zero. A negative yield means
investors who hold the security until it matures will receive less than they
paid to buy it.
Real
estate investor Seaborne pleads guilty to bank fraud - (www.heraldtribune.com) Arthur R. Seaborne has
pleaded guilty to conspiring to commit bank fraud and could spend up to five
years in prison. The 69-year-old investor, who has already been stripped of his
real estate and mortgage licenses by the Florida Department of Business and
Professional Regulation, is expected to be sentenced in Tampa’s U.S. District
Court on Jan. 24. From March 2003 through July 2008, Seaborne lured investors
into a “no money down” real estate scheme by holding investment seminars in
Sarasota. He bought dozens of new houses in Ellenton and Venice, marked up the
price by $8,000 to $75,000, and sold them to the seminar attendees. He then
filled out mortgage applications for the investors using false information.
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