Real Estate News – May 3, 2011

 Plenty of real estate news to go around today – be it good, bad or ugly…

The research firm Delta Associates says distress in the commercial sector is maintaining its plateau (via

Louisiana families who are still living in FEMA trailers after Hurricane Katrina, nearly six years ago, will now face $800 monthly fines from the agency. More than 350 Louisiana families still remain in the temporary storm shelter trailers and have not secured permanent housing, with nearly half located in New Orleans, officials say (via REALTORMag):

The Minneapolis City Council acted arbitrarily and capriciously in how it denied a developer’s proposal to erect a Loring Hill residential tower and must rehear the matter, an appeals court ruled Tuesday (via

For the second time in two years, South Carolina’s chief justice on Tuesday ordered a stop to all pending foreclosures until the parties involved can complete an intervention process – a move with the potential to affect thousands of people struggling to hold onto their homes (via

It’s the kind of news that seems to defy all logic we’ve ever been taught about financial responsibilities and rights in the real estate world. Now, says the Financial Times, banks are considering paying cash-strapped “homeowners” to vacate foreclosed properties (via

Some sellers, particularly in New York City, are deciding to not list their home formally, but they want buyers to know it’s still for sale. These small group of sellers work with a broker, who they rely on to bring them buyers, but seek to avoid the hassles of showing homes or fielding lowball offers (via REALTORMag):

The Justice Department accused Deutsche Bank AG of “recklessly” lying about the quality of loans made by a mortgage unit of the German bank and guaranteed by the U.S. government (via

Block E casino train leaving station soon (via