A Long, Slow Recovery

Included herein is a link to an article located at the International Business Times website. The content is basically that the recovery will not be a quick touch of the bottom and then an immediate rebound, but rather a prolonged trough. good news is that we have most likely hit bottom, but it may take a longer to get off the bottom than we first realized.

International Business Times

Short Sale Article in The Courier Journal

Attached hereto is an interesting article about short sale deals in our area. Notice that Mike Pitt is quoted within.

The Courier Journal

Indiana Good Funds Statute

The statute, Indiana Code 27-2-3.7, prohibits a closing agent from making disbursements from an escrow account in connection with a real estate transaction unless the funds received for the transaction are good funds. Funds received from any party to the transaction in an amount of $10,000 or more must be wired funds that are unconditionally held by and irrevocably credited to the closing agent's escrow account. Funds received from any party in an amount less than $10,000 may consist of other good funds as defined in the statute, including irrevocable wire, cashier's check, certified check, check drawn on the escrow account of another closing agent, check drawn on the trust account of a real estate broker licensed under Indiana Code 25-34.1, or a personal check not exceeding $500.