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Article: Real estate slowdown spurs title firms' belt-tightening.(Overview)
- Article from:
- Arkansas Business
- Article date:
- November 3, 2008
- Author:
CopyrightCOPYRIGHT 2008 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TITLE COMPANIES IN NORTHWEST Arkansas are feeling the pain of the real estate slowdown more sharply than firms in other areas of the state. As the volume of property sales and refinancing deals has declined, so has the demand for real estate document services, title insurance and more.
"We've had several people in our market letting people go because of a lack of sufficient business," said Blake Hanby, president and CEO of Waco Title Co. of Lowell. "I don't think we're done seeing that. There's not enough pie to go around, and there's too many title companies in northwest Arkansas."
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The region saw two rounds of title ...