Results tagged “mortgage”

"Pending sales of single family homes in King County surged in April," reports the Seattle Times. "Pending sales...were up 25 percent from March." But what's this in the bottom half of the story: "But the number of closed single-family home sales in King County in April--1,004--represented just 60 percent of the pending sales reported in March, an unusually low share." Seattle Bubble breaks it down for you (with charts): "[P]ending sales are rapidly becoming a totally useless measure of actual market activity." Meanwhile, Aubrey Cohen notes that about 21 percent of Seattle homeowners are underwater.

It's not a good day for a bank when the Seattle Times story on the crater your stock fell into begins like this:

Your money is safe if its in an institution insured by the FDIC. The Federal Deposit Insurance Corp. covers up to $100,000 per institution, and even may provide additional coverage for IRAs in those banks.

Today in two-newspaper town coincidences: real estate made the front page of both the Seattle Times and the P-I. "King County home sales edge up in June," says the Times, while the P-I makes a stronger claim for temperature-based sales, "Local housing market warming up with the weather."

Business Week scores yesterday's WaMu shareholders meeting, "activists three, bank zero." The Seattle Times settles for "contentious," while the P-I has this leading question for CEO Kerry Killinger from Lee Lannoye, a shareholder and former WaMu executive vice president: "You have destroyed the company--why are you not being held accountable?" MSN Money captures the executive team in action at Benaroya Hall like so:

"I just want people to calm down and have a little faith," said CEO Kerry Killinger at the company's annual shareholder meeting late Tuesday. "We will get through this."