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China: Don't pay real estate agents!, Appraising a Jail and New 2010 Lows

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Real Estate Appraiser with Appraisal Solutions

 

 

China Tells Banks To Stop Paying Fees to Real-Estate Agents
http://online.wsj.com/article/BT-CO-20100112-717752.html?mod=WSJ_latestheadlines 
Aren't you glad you aren't a Realtor in China?

"China has told banks to stop giving commissions to real-estate agents for introducing mortgage customers, on growing concerns that competition for borrowers has led to less stringent lending practices and surging property prices."

Hardin Jail Appraisal
http://www.kulr8.com/news/local/81193317.html 
$5,000 fee to appraise a jail.

Home Price Reductions Levels Hit New Lows in 2010
http://www.dsnews.com/articles/index/home-price-reduction-levels-hit-new-lows-in-2010-2010-01-12
"While the overall picture looks positive, luxury homes continue to be hit the hardest by price reductions. Luxury homes represent less than 2 percent of all current listings on Trulia but are responsible for 24 percent of the $21.2 billion in home price reductions.