Fraud Prevention, Firsthand

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New book draws on author’s own experience surviving a mortgage-fraud ring that marauded his company
RISMEDIA, Jan. 18 ? (KRT) ? Denver real-estate agent Michael Richardson has published “An American Epidemic, Mortgage Fraud … A Serious Business.”

The book draws on Richardson’s own experience. He survived a mortgage-fraud ring that marauded his company and says he learned firsthand how to prevent mortgage fraud. Richardson, who operates PreventMortgageFraud.com, also offers fraud-awareness workshops.

State gains in relocations Colorado continued its three-year trend of more people moving into the state than out of it, according to a recent study. United Van Lines’ annual migration study found that nearly 2% more people moved into the state than in 2004. The survey is based on the 226,353 interstate household moves handled by St. Louis-based United among the 48 contiguous states and Washington, D.C.

Housing to slow The National Association of Realtors is forecasting a more balanced housing market for 2006. After setting a fifth consecutive annual record, projected to 7.10 million units for 2005, existing-home sales are forecast to ease to 6.79 million this year, the second-highest on record. New-home sales, which should be a record 1.29 million for 2005, are expected to decline to 1.21 million in 2006.

That also would be the second-best year in history. Total housing starts for 2005 are seen at 2.07 million units — the highest since 1972’s record — slowing to 1.94 million this year.

The national median existing-home price for all housing types, projected to jump 12.9% to $209,100 for 2005, is forecast to rise 5.1% to $219,700 this year. The median new-home price, which should be up 4.6% to $231,300 for 2005, is expected to increase 6% this year to $245,200.

Copyright ? 2006, The Denver Post

Distributed by Knight Ridder/Tribune Business News.

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