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National

Despite new rules, appraisers say pressure remains

By Joe Eaton

It’s been more than six weeks since new rules went into effect to clean up systemic abuses in the home appraisal business, but don’t ask an appraiser if things have changed. Many say there’s still no reputable oversight of their industry and they still have no way to report violations.

National

New appraisal rules lack enforcement

By Joe Eaton

Nine days before new rules radically changing the appraisal industry are set to take effect, appraisers, lenders and real estate agents are asking the same question — who will enforce them?

National

The appraisal bubble

By Joe Eaton

In 2004, years before plummeting real estate values turned Fort Myers, Florida, into a top five foreclosure capital, appraiser Mike Tipton faced a dilemma.

National

Homebuilders leave trough hungry, despite lobby blitz

By Joe Eaton

All fingers point at the housing mess as a primary trigger for the current recession, but so far the homebuilding industry has been left in the cold as the economic stimulus bill moves through Congress, despite a blitz by its lobbyists.

National

Outsiders target Indian land for risky business

By Joe Eaton

Deep in the foothills, miles above California’s Sacramento Valley, the 640-acre home of the Cortina Band of Wintun Indians lies empty except for six houses, a graveyard, and the spot where the band’s ceremonial roundhouse once stood.

A sign at the gate warns off outsiders, but on a recent afternoon there is no one inside to drive visitors away. All but 20 or so of the band’s 160 members live elsewhere. Most are scattered throughout California and the West. Some moved as far away as Tennessee and Canada.

The land is beautiful, but it’s hard to live on and harder yet to make a living from. Electric lights replaced lanterns only a few years back. Phone service cuts in and out. In summer, the communal well dries up.

Hilly, parched, and carpeted with prickly star thistle, the Cortina land isn’t much good for farming or running cattle. It isn’t good for much, but two outside developers have found a way to make the Cortina land pay.

In 2007, the band began leasing nearly 70 percent of its land to be used for a landfill by a joint project between a Canadian venture capital company and a California waste hauler. The company plans to truck in 1,500 tons of municipal waste a day and bury it deep in Cortina’s canyons.

The Cortina landfill is one among dozens of projects across the country for which developers and Native Americans are using Indian sovereignty to bypass state and local regulations and build projects that other communities shun – projects ranging from landfills, big box stores and a massive power plant to casinos, motorcycle tracks and billboards. Neighbors are paying the price.

In California, the Cortina tribal leadership calls its landfill deal a financial savior, but like the people who live near other controversial Indian land projects, the farmers and ranchers who live below the Cortina land, and some tribal members, fear the landfill will leak and ruin the local environment.