Real estate news update: 6-29

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Home tax credit closing extension dead
CNBC:
Tighter lending standards, new appraisal rules and general banking backlogs are making a two month contract-to-closing period very difficult.
Housing on life support
Seeking Alpha: Among the negative factors pressuring the market, a series of weak real estate releases seemed to create the highest level of concern.
Homebuyer tax credit: Is it better to laugh or cry?
Forbes: The hardest bit to swallow is not so much that the homebuyer tax credit is a boondoggle. It is that it was a totally predictable waste of money.
Realtors now a fount of market realism?
Boston Globe: A survey found 75 percent of homeowners are haggling over the recommended listing prices, arguing their homes are worth more.
Like others, rich falling behind on their mortgages
CNBC: Now, growing numbers of well heeled Americans, their portfolios hammered by depressed markets, have stopped repaying loans or even walked away from mortgages.
Financing rules complicate search for dream condo
Washington Post
: If youve been looking to buy a condo in the Washington area, you know there are deals to be had. But a multitude of rules could block your way.

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