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This will come as sweet music to the ears of any homeowner currently having trouble selling their home: the Washington Post reports that the head of the National Association of Realtors admits he didn’t listen to his agent and didn’t sell his house quick enough last year — and one year later, there it still sits, unsold, no buyers in sight. Let me correct myself: ONE of his houses. If you read deep enough into the article, you realize he has already moved into a new home — now worth $2.8 million — and the house he can’t sell is the old house he’s owned since 1979. But still…
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.