Another casualty of the housing slump: Alliance Title closes
Posted by admin under: Main Dec 20
Alliance Title, based in nearby Campbell, officially shut down last week. With over 200 branch offices and 2,000+ employees, there had been rumors of its demise, but the move was very unexpected and horrible timing given the holidays.
I’ve been in this business under 10 years, but all the seasoned veterans tell me this is one of the slowest markets they’ve seen in a long time (not including Cupertino, Sunnyvale, etc.). So not only are we seeing Realtors quit the business, but more and more we’re seeing lenders, title companies, vendors shutting down as well.
With the economy nearing a possible recession, we realize how closely tied the housing economy is to the general well being of the overall economy. My heart goes out to those people that are losing their homes and jobs because of this downturn. I am confident that the market will pick back up again…hopefully by this time next year.
Source: Another casualty of the housing slump: Alliance Title closes
Thursday, December 20th, 2007 at 12:26 pm and is filed under Main. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.