Real Estate News – May 10, 2011

Scammers are taking advantage of the real estate market, changing their schemes to take advantage of a distressed real estate market. Reports of mortgage fraud in 2010 reached the highest level on record, the Treasury Department reports (via REALTORMag):

Arizona homeowners associations are losing a few more of their powers (via

Bolts fan outfoxes HOA in yard-sign dispute (via

Evidence is amassing rather quickly this year that cross-border acquisition activity is heating up in the commercial real estate sector (via

The number of home owners who owe more on their mortgage than their house is worth continues to increase. About 28 percent of homes with mortgages are now underwater, according to’s latest Home Value Index. That is up from 27 percent reported during the last three months of 2010 (via REALTORMag):

Complaints about foreclosure fraud are pouring into The Florida Bar, with four times more cases pending today than six months ago, as property owners trying to save their homes increasingly take on their banks and their lenders’ lawyers (via

Foreclosed homes could be used to provide temporary housing to victims displaced from the deadly tornadoes that ripped through Alabama April 27 (via REALTORMag):