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A lot sure has happened since my last DealWire: unemployment numbers came in lower than expected, domestic growth came higher than expected, the Central Bank lowered rates once again, and I just heard that some analysts are calling for Bank of America to walk away from the Countrywide deal. Wow, talk about a roller coaster. At least those people scaring consumers into believing we are in a recession are quiet, for now.

I am not sure if you are a big Sunday Newspaper reader, but I am. This past week the Sunday circular, Parade Magazine, ran an article on the housing market. In there, it listed some geo-specific market trends. Of all the places mentioned, only the Washington DC Metro area had seen a net increase since 2004. So, that got me thinking, what other places in the US have seen net home price increases? After some quick research I found that the National Association of Realtors tracks some of this data. Among the areas that have seen such increases are parts of Washington (upwards of an 18% increase), parts of New York (upwards of a 14.8% increase), and parts of Maryland (upwards of an 19% increase). We have available transfers in these areas, so call me if you want to jump on this bandwagon.




Bloomberg
Countrywide Falls on Concern Bank of America May Walk
Countrywide Financial Corp., the largest U.S. mortgage lender, declined the most in two months of New York trading after Friedman, Billings, Ramsey & Co. said Bank of America Corp. should abandon its takeover. Full Story


MSNBC
Stocks End Mostly Higher
Optimism over better-than-expected jobs and factory orders reports appeared to trump worries about resurgent oil prices and a Countrywide credit downgrade Full Story


Forbes
Services Buck Up
The Institute for Supply Management, a trade group of purchasing executives, reported Monday that its service sector index jumped to 52.0 in April from March's 49.6, according to the consensus estimate of economists surveyed by Thomson Financial/IFR. Analysts had expected the index to be only 49.3 for April. Full Story


Parade
What Your Home Is Worth
After a year of nervous headlines, the story is familiar: The country is in the grip of a housing crisis that has put millions of Americans out of their homes and threatens to dispossess millions more. Full Story








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