News Alerts, Aug. 29, 2013, Afternoon Edition, 3 New Articles, Real Estate +, Don’t Miss Them

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  1. Singapore-U.S. Trade High to Persist on Record FDI Level – Bloomberg

    Will Singapore, including its [once] extremely hot real estate market, be able to weather the emerging-markets storm? This report still has it as mostly a well-set economy.

    Singapore’s trade with the U.S. in 2013 will probably exceed $50 billion for a third year after the nation attracted the most investment from American companies in the Asia-Pacific region.

    “U.S.-Singapore relations are generally at an all-time high,” U.S. Ambassador to Singapore David Adelman said in a Bloomberg Television interview. He gave the trade target for the two countries, saying “Southeast Asia has become increasingly important to American multi-national corporations as they continue to increase their participation in the global economy.”

    “Singapore, like every country around the world, has its basket of challenges,” Adelman [“U.S. Ambassador to Singapore David Adelman”] said. “It’s a small country and small countries are always going to be challenged by their lack of resources and by the importance of getting the policies right, because the margins for error are much tighter.”

    Read the source article … https://www.bloomberg.com/news/2013-08-2 5/singapore-u-s-trade-high-persists-on-r ecord-fdi-southeast-asia.html


  2. How And When To Use An Escalation Clause | Bankrate.com

    Good advice:

    While all agents agree that buyers should only use an escalation clause when there is a possibility of multiple offers, it doesn’t necessarily follow that a buyer should always include an escalation clause just because the market is competitive.

    “If you decide to offer any amount above asking price and waive the appraisal valuation, you’re going to be agreeing to purchase the home regardless of what an appraisal will come in at,” says Skojec [“Jamie Skojec, founding principal of Home Source Realty in Northern Virginia”]. “If the lender’s appraisal comes in lower than the amount offered, you’re going to be paying the difference from your own funds.”

    For that reason, Skojec says it’s a good idea for buyers to write an escalation clause that retains an appraisal contingency, meaning that the actual purchase price will conform to the lender’s appraisal.

    Read the source article … https://www.bankrate.com/finance/real-es tate/escalation-clause.aspx


  3. Why the new homes plunge doesn’t tell the full story

    As expected:

    While government housing data is often subject to large revisions, the reading was well below expectations and could be a sign that a recent surge in mortgage rates is weighing on the economy.

    The data could weaken the case for the U.S. Federal Reserve to reduce its support for the economy by the end of the year. It also casts doubt on Wall Street expectations that the Fed will begin reducing monthly bond purchases next month.

    Read the source article … https://www.cnbc.com/id/100983583

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