PCS POSTS

Almost every indicator and statistic is saying that the U.S. housing market is slowing, sellers are fretting, buyers are canceling, lenders are firing, REALTORs are struggling, and title underwriters’ revenues are flatlining.
1. A title company’s copy-and-paste error ended up conveying the whole subdivision to one family who intended to only buy a house in the neighborhood. NY Post (h/t to Merrell Bailey)
2. A developer forgot to convey a subdivision road to the homeowners, so one homeowner got the whole street plus the streetlighting power bill that goes with it. KWTX TV (another h/t to Merrell Bailey)
3. A Kissimmee real estate agent and her husband were indicted on federal mortgage fraud charges earlier this month. They now face up to 152 years in prison. The Legal Description
4. A Virginia husband-and-wife REALTOR team is going to prison for 15 months after creating fake title agencies so they could get multiple commission advances on fake contracts. DOJ
5. Of the ten cities where home prices are still increasing, only one (number 1) is in Florida. Realtor dot com
6. But one place where property prices are collapsing: the metaverse. The Real Deal
7. Atlanta-based Angel Oak Investors is paying an SEC fine of $1.75 million for misleading investors in its $90 million fund dedicated to lending to investors in fix-and-flip deals. The Legal Description

If you run across an interesting or funny real estate related article, video, or podcast, please share with me by replying to this e-mail. I love giving hat tips!

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PCS Posts is a blog from PCS Title President, Joe Seagle. Each edition, Joe presents details from the top of the news feed that affect our industry. This info ranges from real estate closing form changes to updated laws to trending topics. Joe breaks each idea down into manageable pieces and highlights the facts you won’t want to miss. Please subscribe to our email list for the latest blog.

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