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Monthly Archives: April 2011

Today’s Real Estate News 4-29-2011


I’d like to hear your thoughts: Is now a good time to buy a vacation home?  Let me know in the comment section below or on Facebook at http://on.fb.me/h13cWz

Today’s news that may be of interest to you:

Fannie, Freddie Align Servicing Guidelines for Delinquent Mortgages
HousingWire | April 28, 2011
The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac Thursday to align their guidelines for servicing delinquent mortgages. Previously, the government-sponsored enterprises maintained different requirements for how their mortgage servicers would treat these loans.

Precursor to Existing-Home Sales Heads Higher
DSNews | April 27, 2011
Pending sales of existing homes rose again in March, according to data released Thursday by the National Association of Realtors (NAR).

Banks Rush to Improve Foreclosure Practices
The Wall Street Journal | April 29, 2011
The clock is ticking for the biggest U.S. banks to revamp their foreclosure practices. Under orders from U.S. regulators, 14 financial institutions have until mid-June to lay out plans to clean up their mortgage-servicing operations – and another 60 days to make the changes.

Weighing Whether to Buy a Vacation Home
The Wall Street Journal | April 29, 2011
With an increasing range of options – from managed resorts in the Maldives to a self-owned bungalow in Bali – deciding what type of vacation home to own, and what investment risks to take, is becoming a more complicated process.

Economic Growth Slows to 1.8% in First Months of 2011
The Washington Post | April 28, 2011
The economy’s growth slowed at the start of the year, according to new data that show the recovery is so weak that it doesn’t take much to knock it off its stride.

HUD Drops Harsh Rule on Reverse Mortgages
The Chicago Tribune | April 28, 2011
The Department of Housing and Urban Development has thrown out a rule it put in effect in 2008 for reverse mortgages that was causing grief for some homeowners and heirs.

FBI Says ‘Spoofing’ Covered up Real Estate Scam
The Kansas City Star | April 28, 2011
At first, Rebecca Smith was relieved when she got a phone call from an FBI agent. It was October, just a few months after Smith had spent $30,000 on a real estate investment. The woman who sold her the deal, Karen Hanover, hadn’t come through on any of her promises, and Smith was worried.

From the National Association of Realtors®:

Pending Home Sales Rise Again in March
The Pending Home Sales Index increased more than 5 percent from February, and NAR Chief Economist Lawrence Yun predicts continued growth due to favorable affordability conditions and job creation.

Cheaper to Buy Than Rent? In Most Cities, ‘Yes’
In 78 percent of the largest cities, it makes more financial sense to buy a home than rent, according to a quarterly report from Trulia. Find out the 12 cities where the value of buying is the strongest.

Discounted Prices Chip Away High Inventories
A key step to the housing recovery is starting to occur, economists and real estate agents say.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

 

Today’s Real Estate News 4-28-2011


If you watched the Bernanke news conference yesterday, I’d love to hear what you thought.  Feel free to post your comments on our Facebook page http://on.fb.me/h13cWz

Here is part I of the Bernanke press conference, it’s about 20 minutes long: http://yhoo.it/kcBK5f

Today’s news that may be of interest to you:

This must be the first time I’ve included an audio link in my daily news.  This is the latest Case Schiller index put to opera music as played on NPR’s “Planet Money”.  It’s great!  Thanks to our own Scott Montilla for sending it along.  http://n.pr/l1uBos

Five Markets You Wouldn’t Expect are on Road to Recovery
HousingWire | April 27, 2011
While prospects for the housing market are moderate, at best, several markets are showing signs of improvement – even some that endured the brunt of the crisis.

Freddie Mac Buys Fewer Mortgages
HousingPredictor | April 27, 2011
Already on a path to reduce the number of mortgages it buys, Freddie Mac purchased fewer loans in March, reducing its share of the mortgage Freddie Mac Building market as calls to eliminate the government sponsored lender increased in Congress.

Hiring Starts to Pick Up Pace
The Wall Street Journal | April 28, 2011
Hiring by the nation’s small employers is accelerating, a sign that the stubbornly slow overall job recovery may be poised to gain momentum.

Housing Crisis Continues to Batter Nation’s Homeownership Rate
DSNews | April 27, 2011
With the housing crisis still taking its toll, the nation’s homeownership rate slipped further during the first three months of this year.

Bernanke Meets the Press, Says Fed’s Monetary Easing not a ‘Panacea’ for Economy
The Washington Post | April 27, 2011
For Ben S. Bernanke, the past few weeks have included practicing answers for potential questions from reporters, getting comfortable behind a mahogany desk chosen as a set piece at the Federal Reserve’s first regular news conference, and, oh yeah, deciding what to do at a big meeting to set the nation’s monetary policy.

S&P: Revises Outlook to Negative on Certain US Housing Authorities
Reuters | April 27, 2011
The affected ratings benefit from a one-notch upgrade on the standalone credit profile based a moderate likelihood of support from the U.S. government to the public housing authorities in the event of an extraordinary circumstance.

Ex-Morgan Stanley Economist to Aid Geithner
Reuters | April 27, 2011
Morgan Stanley’s (MS.N) former chief U.S. economist is now serving as a counselor to Treasury Secretary Timothy Geithner and will advise him on a range of domestic finance issues, a Treasury official said on Wednesday.

How Warren Buffett Protégé David Sokol Lost His Way
BusinessWeek | April 28, 2011
Did the heir apparent leave Berkshire Hathaway for family reasons, or did trading improprieties involving Lubrizol have something to do with it?

From the National Association of Realtors®:

11 Cities Where Homes Sell the Fastest
Find out where homes spent the fewest number of days on the market in March.

Buyer Rush to Beat ‘Jumbo’ Mortgage Deadline
Buyers seeking homes in high-cost areas may be extra motivated this spring and summer to act ahead of an Oct. 1 deadline, when the government is set to scale back the size of “jumbo” mortgages it guarantees in pricey areas.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Today’s Real Estate News 4-27-2011


Federal Reserve Chairman Ben S. Bernanke

What is the best real estate smart phone app that you’ve used?  On my iPad I have Realtor.com, Trulia, Zillow, and Stewart My Files (it links to SureClose for your client files).  What are some others that are worth a look?

Today’s news that may be of interest to you:

Treasury Quietly Plans for Failure to Raise Debt Ceiling
The Washington Post | April 27, 2011
The White House is warning that catastrophe will strike if Congress fails to raise the limit on the national debt: With too little cash to pay creditors, the U.S. government would default. Interest rates would skyrocket. And the economic recovery would collapse.

Bernanke Prepares to Make History by Holding Open News Conference
The Washington Post | April 27, 2011
On Wednesday afternoon, Ben S. Bernanke will step in front of a lectern in a space across the hall from the Federal Reserve cafeteria and make history: He will be the first Fed chairman to take routine, on-the-record questioning from the media.

Fed’s ‘Extended Period’ Pledge May End in 2011, Economists Say
Bloomberg | April 27, 2011
Federal Reserve officials will probably prepare to pull back from record stimulus by dropping a pledge this year to hold the main interest rate near zero for an “extended period,” according to a Bloomberg News survey.

White House Eyes Warren Associates for Consumer Job
Reuters | April 27, 2011
The White House is zeroing in on close associates of law professor Elizabeth Warren, an outspoken critic of Wall Street, to head the new U.S. consumer financial agency, a source with knowledge of the discussions told Reuters.

Freddie Mac’s Delinquencies Decline for Fourth Straight Month
DSNews | April 26, 2011
The percentage of home loans going unpaid is steadily declining for the nation’s second largest mortgage company.

U.S. Mortgage Applications Fell 5.6% Last Week on Purchases
Bloomberg | April 27, 2011
Mortgage applications in the U.S. declined last week, led by the biggest drop in purchase requests in almost a year.

Realtor.com rolls out iPad app
Inman News | April 26, 2011
Property search site Realtor.com has launched a mobile application for the Apple iPad, site operator Move Inc. announced today.  Also today, the company announced the newest update to its iPhone app, which makes the iPad and iPhone apps more similar in appearance.  

From the National Association of Realtors®:

Is This Really a Buyer’s Market?
More buyers are referring to a “false buyer’s market” in real estate. “If you think prices are cheap, wait until you start putting offers in,” says one buyer.  

Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 
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Posted by on April 27, 2011 in economic news, news, real estate, Real Estate news, Uncategorized, US news

 

Today’s Real Estate News 4-26-2011


Are you seeing the rental market in your area tighten up?  Are good rentals more difficult to find and are prices/rents increasing?  I’d like to hear from you at the Stewart Spokane Facebook page below.  (:-) 

http://on.fb.me/h13cWz

Today’s news that may be of interest to you:

Commercial, Multifamily Originations Spike 44% in 2010: MBA
HousingWire | April 25, 2011
Commercial and multifamily originations for 2010 spiked 44% from the year before, the Mortgage Bankers Association said Monday.

Housing Market Fears Trump Ideology
The Washington Post | April 26, 2011
Shutting down Fannie Mae and Freddie Mac should fit seamlessly into the Republican drive to shrink government. After all, keeping the ailing mortgage giants afloat has cost taxpayers $150 billion and many in both parties want private lenders to finance a bigger share of the nation’s $11.3 trillion residential mortgage market.

Home Prices in U.S. Probably Dropped, Consumer Confidence Rose
Bloomberg | April 26, 2011
Residential real estate prices probably dropped in February by the most in more than a year, a sign the housing market is struggling to stabilize, economists said before a report today.

Industry Data Points to Record-High Level of Short Sales
DS News | April 26, 2011
An industry study released Monday shows that nearly half of home sales activity last month involved distressed properties, a trend that is likely to continue as the backlog of foreclosures and mortgage defaults make their way through the pipeline.

New-home Sales Up 11 percent in March
The Washington Post | April 25, 2011
More people bought new homes in March, giving the battered industry a small lift after the worst winter for sales in almost a half-century.

Homeownership Still Considered Best Long-term Investment: Pew
HousingWire | April 25, 2011
The housing crash seems to have had little impact on consumer confidence, as 81% of adults believe buying a home is the best long-term investment a person can make.

Affordable Rental Housing Scarce in U.S., Study Finds
The Washington Post | April 26, 2011
The share of renters who spend more than half their income on housing is at its highest level in half a century and it’s no longer just low-income tenants who are feeling the pain, according to a Harvard University study scheduled for release Tuesday.

Hey, Malls Here! Get Your Used Malls Here!
The Wall Street Journal | April 26, 2011
It is spring selling season for U.S. mall landlords, with property giants Westfield Group, Simon Property Group and General Growth Properties marketing 40 malls across the country.

Loan Middlemen Become a Big Draw
The Wall Street Journal | April 26, 2011
With tens of billions of dollars in underwater commercial real-estate loans coming due by the end of next year, some savvy investors are trying to get to the head of the line in the race to snap up distressed properties.

From the National Association of Realtors®:

Analysts Say Housing Is on the Way Up
Financial observers report that recent numbers suggest residential real estate has been improving and will likely continue to do so.

Sellers Offer Up Lavish Incentives to Buy
Buy a house, get a free new car? Sellers are trying fancy, expensive incentives to lure buyers to homes.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Today’s Real Estate News 4-25-2011


Today’s news that may be of interest to you:

See an article below that discusses rising gas prices.  Are you finding that your clients are concerned enough about the price of gasoline that it is affecting their buying or selling decisions?  Is it preventing them from buying or selling, or rather affecting where they choose to live or work?

Comments?  Stewart Spokane Facebook page ( http://on.fb.me/h13cWz )

Buyers’ Market? Stressed Sellers Say Not So Fast
The Wall Street Journal | April 25, 2011
Falling home prices should give aspiring homeowners the upper hand this spring, but in a growing number of locations, it doesn’t feel like a buyer’s market.

FHA Mortgages May Still Beat Loans Available from Private-sector Rivals
The Los Angeles Times | April 24, 2011
Although it has raised fees, the FHA continues to offer much higher and more flexible maximum debt-to-income ratios, far more generous underwriting and lower down payments than conventional lenders.

Sales of New Homes in U.S. Probably Climbed From Record Low
Bloomberg | April 25, 2011
Purchases of new houses in the U.S. probably rose in March from a record low, economists said a report today will show.

Growth Probably Slowed as Fuel Costs Rose
The Washington Post | April 25, 2011
The U.S. economy probably grew at a slower pace in the first quarter as a jump in gasoline prices caused consumers to cut back, economists said a report this week will show.

Short Sales and Foreclosures Equally Degrade FICO Scores
HousingWire | April 23, 2011
Distressed homeowners looking to preserve their credit are unlikely to gain a FICO-score advantage by launching short sales in lieu of foreclosure, according to a recent post on the credit score database’s Banking Analytics Blog.

Funding for Housing Help Gets Budget Ax
MarketWatch | April 25, 2011
Millions in federal funding for housing counseling services have been slashed for the 2011 fiscal year – funds that pay for U.S. Department of Housing and Urban Development-approved counselors to work with first-time home buyers, older homeowners considering a reverse mortgage and borrowers heading dangerously close to foreclosure.

Some Signs of Life in US Housing, Credit Drought
Reuters | April 25, 2011
On a recent sunny Sunday afternoon, in Leawood, near Kansas City, realtor Ted DeVore patiently waited inside an elegant ranch home priced at $344,900, eager to point out the lush backyard, new roof, remodeled kitchen and updated bathrooms.

From the National Association of Realtors®:

Rehabbed REOs Sell Faster, Study Finds
Banks that spend the extra cash to rehab a foreclosed property are more likely to sell it faster, according to a new study comparing rehabbed to non-rehabbed REOs. (This article is a shocker.  When you fix up a foreclosed house, it sells faster. (:-) ~Anthony)

More Borrowers Have ‘Strategy’ to Defaulting
A new study unveils the common behavior traits of borrowers who strategically default on their mortgage, even though they can afford to make the payments.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Today’s Real Estate News 4-22-2011


SOUTH SAN FRANCISCO, CA - MAY 04:  A sold sign...

We have two articles today which both point to a “Spring bounce”.  In the Spokane market, inventory is down from 2010 (that’s good!), but sales are also down from 2010.  Are you seeing a Spring bounce in your market or niche?  What about in the commercial market, is there such a thing as a Spring bounce?  Please feel free to post a comment on our Stewart Facebook wall: http://on.fb.me/eJJUMA or on my personal Facebook wall: http://on.fb.me/eNZQQT

Today’s news that may be of interest to you:

‘Strategic Defaulters’ Pay Bills on Time and Plan Ahead, Study Finds
The Washington Post | April 22, 2011
‘Strategic defaulters’ defy characteristics of most people whose loans go bad, analysts say.

Quarterly Mortgage Originations Down One-third at Big Four Banks
HousingWire | April 21, 2011
The big four banks originated a combined $186 billion in mortgages during the first quarter, down 33% from the $281 billion home loans written in the previous quarter, according to their financial statements.

Loan Uptick Could Aid Businesses
The Wall Street Journal | April 22, 2011
Small-business lending and the use of existing lines of credit, both slow to rebound after credit markets froze, are showing faint but intelligible signs of recovery, another indicator the credit crisis is on the mend.

No Place Like Home for Banks
The Wall Street Journal | April 22, 2011
Just a few years ago, banks in industrial states made ill-fated bets on piping hot markets in Florida and Nevada in search of growth. Now, they are finding it in their own gritty backyards.

FHA Offers New Energy Efficiency Loan
NASDAQ | April 21, 2011
Homeowners can borrow up to $25,000 for home energy improvements under a new FHA home equity loan program.

After Years of Red Flags, a Conviction
The New York Times | April 21, 2011
Lee B. Farkas, guilty in a $2.9 billion mortgage lending scandal, had this to say about his fraudulent operations: “It happens all the time.”

Multigenerational Housing Is a Real Estate Growth Niche
The New York Times | April 22, 2011
Multigenerational housing is specifically aimed at the booming immigrant population in the Bay Area, and is emerging as one of the few growth niches in a moribund housing market.

New Housing Data Shows A Springtime Bounce Back, Not A Double-Dip
Forbes | April 22, 2011
February housing numbers were as gray, gloomy and cold as the winter month they represented. Existing-home sales were down 9.6% month-over-month and new-home sales registered lows not seen in nearly 50 years. Some of my real estate reporter colleagues at other media outlets were quite fast to assume this data meant a housing double-dip was upon us.

From the National Association of Realtors®:

Has Housing Reached a ‘Recovery Path’?
Spring has sprung, but have the buyers too? “We’re clearly on a recovery path,” Lawrence Yun, NAR’s chief economist, says about the housing market.

4 Best ‘Shrinking’ Cities
Several U.S. cities are losing population, but that doesn’t mean they can’t be a great place to settle down. CNNMoney.com offers a list of the best shrinking cities to live.

Bernanke Pushes for More Fed Openness
In an apparent move toward greater transparency, the Fed chief will end next week’s policy meeting with a question-and-answer session with the press.

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Today’s News 4-21-2011


Today’s news that may be of interest to you:

In celebration of Earth Day tomorrow take a look at the “No More Utility Bills? More Builders Spotlight ‘Green’” article. Net-zero housing is a new “green” type of housing where a home produces as much energy as it uses. Do you think net-zero housing units would do well in the Washington market? How well do you think this type of net-zero housing would do in Spokane?

Home buyers Try to Beat ‘Jumbo’ Loans Squeeze
Reuters | April 20, 2011
Beginning on October 1, the government will dial back on the size of mortgages it guarantees in high-cost areas like San Francisco, New York and Washington.

Analysts Weigh in on NAR’s Existing-Home Sales Report
DSNews | April 20, 2011
The National Association of Realtors (NAR) reported Wednesday that sales of previously owned homes rose 3.7 percent last month, following the 9.6 drop recorded in February.

5 Steps to Make Your Property a Hot Rental
Reuters | April 21, 2011
If you have a second home that you’re considering renting out for extra income, there’s no time to waste. With summer vacation season just around the corner, now is the time to get it on the market and attract top dollar.

Obama: Housing Biggest Drag on U.S. Economy
Reuters | April 21, 2011
President Barack Obama on Wednesday said the sluggish housing market is probably the biggest drag on the U.S. economy right now.

No More Utility Bills? More Builders Spotlight ‘Green’
“Shiny granite can only go so far” to lure buyers from low-price foreclosures, says one housing expert. That’s why more new-home builders are betting on homes with ultra-low utility costs and ‘sustainability’ features to stand out.

From the National Association of Realtors®:

No More Utility Bills? More Builders Spotlight ‘Green’
“Shiny granite can only go so far” to lure buyers from low-price foreclosures, says one housing expert. That’s why more new-home builders are betting on homes with ultra-low utility costs and ‘sustainability’ features to stand out.

NAR: March Existing-Home Sales Rise 3.7%
All-cash sales were at a record market share of 35 percent, up from 27 percent in March 2010.

Top 10 Real Estate Web Sites
Which real estate web sites are garnering most of the traffic on the Web? Here’s the latest report.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Today’s Real Estate News 4-20-2011


Sales of Existing Homes in U.S. Probably Increased in March

I can’t say I’ve heard much about banks wanting to lend while there is little demand (see the article below).  What’s been your experience?  Do banks seem eager to lend?  Bankers and lenders, are you finding there is little demand for loans?

Today’s news that may be of interest to you:

Sales of Existing Homes in U.S. Probably Increased in March
Bloomberg | April 20, 2011
A gain in U.S. sales of existing homes during March probably failed to make up for a drop the previous month, a sign that the housing market is struggling to rebound, economists said before a report today.

Warren Says Consumer Bureau to Release Model Mortgage Forms
Bloomberg | April 18, 2011
Elizabeth Warren, the Obama administration adviser charged with setting up the U.S. Consumer Financial Protection Bureau, said the agency will soon release model mortgage forms that may become the basis of new regulations on home finance.

Unlocking the Loan Puzzle
The Wall Street Journal | April 20, 2011
Banks say they want to lend but there is little loan demand. Borrowers say they can’t get one. The experiences of one upstate New York banker give a clue to how both statements can be true.

Fed Offers up Two Options for Protecting Lenders
The Washington Post | April 20, 2011
The Federal Reserve unveiled a proposal that offers two options under which lenders would be protected from court challenges.

From the National Association of Realtors®:

New-Home Building On the Rise
Builders broke ground on more homes last month, a boost just in time for the spring buying season. Read more about what’s in store for the new-home market with the Commerce Department’s latest report.

More Americans Flock to the South, West
The latest Census data shows population growth mostly in Southern and Western states. But experts say that demographic changes will likely play less of a role in housing prices and relocation trends in the short term.

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Today’s Real Estate News 4-19-2011


Americans Shun Cheap Homes

Check out the article below on real estate websites and tell me:  What is the best real estate focused website you’ve used (aside from www.stewartspokane.com)?

Today’s news that may be of interest to you:

Bill Would Waive Retirement Plan Withdrawal Penalties to Buy REOs
HousingWire | April 18, 2011
A bill introduced in the U.S. House of Representatives would waive early distribution penalties on certain qualified retirement plans if the funds are used to buy a house that has been in foreclosure for a year or more.

Use of FHA Loans Declines With Tighter Lending Criteria
San Jose Mercury News | April 19, 2011
The share of borrowers using government-insured FHA home loans dropped to its lowest level in more than two years in February, based on a survey of 20 large housing markets nationwide. The trend likely reflects tighter lending criteria for the low down-payment loans, according to a recent report by DataQuick Information Systems.

Americans Shun Cheapest Homes in 40 Years as Owning Loses Appeal
Bloomberg | April 19, 2011
The most affordable real estate in a generation is failing to lure buyers as Americans sour on the idea of home ownership. At the end of 2010, the fourth year of the housing collapse, the share of people who said a home was a safe investment dropped to 64 percent from 70 percent in the first quarter.

Builders Probably Broke Ground on More U.S. Homes in March
Bloomberg | April 19, 2011
A gain in housing starts in March probably failed to make up for ground lost the prior month as U.S. homebuilders continued to struggle almost two years into the economic recovery, economists said before a report today.

Could Debt Worries Accelerate Fannie, Freddie Overhaul?
The Wall Street Journal | April 19, 2011
Most Washington pundits don’t expect any major political action on mortgage giants Fannie Mae and Freddie Mac before the 2012 election, but growing jitters over the nation’s debt illustrate one potential catalyst that could keep the current conservatorship of the firms from dragging on indefinitely.

Home Builders’ Pessimism Deepens
The Boston Globe | April 19, 2011
Builders are more pessimistic about the housing market this month, a dismal sign at the start of the spring buying season.

Zillow Files for IPO, Eyes Raising $51.8 million
BusinessWeek | April 18, 2011
Real estate listing and information service Zillow Inc. has filed documents with securities regulators for an initial public offering.

List: 7 Real Estate Sites Honored by the Webbys
The San Diego Union-Tribune | April 18, 2011
The folks at the Webby Awards – given to the best of the best on the Internet every year – have announced their 2011 picks of what they consider excellent sites in the real estate market.

From the National Association of Realtors®:

Commercial Market Exceeds Forecasts
After a sluggish few years, the commercial market is posting a dramatic recovery, far more quickly than analysts ever expected.

HUD Offers Grants to Remove Home Hazards
The U.S. Department of Housing and Urban Development is offering grants to help eliminate housing-related health hazards from low-income homes.

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

 
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Posted by on April 19, 2011 in Uncategorized

 

Today’s Real Estate News 4-18-2011


 

The first quarter of 2011 Spokane home sales were down compared to 2010, and yet in the first article below Freddie Mac is predicting that nationally sales will increase in 2011 over 2010.  What do you foresee in your market area compared to 2010?  An increase, a decrease, or for sales to remain flat?

Today’s news that may be of interest to you:

Freddie Mac Market Outlook Predicts an Increase in Home Sales
DSNews | April 15, 2011
Freddie Mac forecasts a 5 percent increase in 2011 home sales over 2010, according to its U.S. Economic and Housing Market Outlook for April.

Bair: Dodd-Frank Can Restore Market Discipline
HousingWire | April 15, 2011
Gone are the days of the financial crisis, but Chairman of the Federal Deposit Insurance Corp. Sheila Bair said there are specific aspects of the industry that need improvement before the financial system can again be called stable. Furthermore, Bair said new financial regulations under Dodd-Frank can serve as a cornerstone to maintaining economic integrity.

Commercial Real Estate’s Improving Health Exceeds Forecasts
USA Today | April 17, 2011
The once-dismal commercial real estate market is turning around far more quickly than analysts expected, with troubled loans falling, occupancy rising and office building sales surging in the largest markets.

Bernanke Briefings May Offset Fed Hawks With Words as New Tool
The Washington Post | April 18, 2011
When Federal Reserve Chairman Ben S. Bernanke convenes his first press conference next week, he may emphasize a point the markets seem to have forgotten: He’s serious about keeping interest rates low for an “extended period.”

Risk Retention will Produce Higher Quality Mortgages, Depress Housing: S&P
HousingWire | April 15, 2011
The new risk-retention rule will produce higher quality originations, as intended, but will also constrict lending and further depress the housing market, according to Standard & Poor’s.

Banking With Smartphone Calls for Caution
The Columbus Dispatch | April 17, 2011
Remember when using your home computer to do your banking was a big innovation? That’s so 2010. These days, the hot trend is “mobile banking” – that is, using smartphones and other Web-enabled devices to access accounts.

Home Sales, Construction Probably Rose: U.S. Economy Preview
Bloomberg | April 17, 2011
March increases in home sales and construction probably failed to make up for the ground lost the prior month, showing the U.S. residential real estate market continues to struggle almost two years into the economic recovery, economists said before reports this week.

From the National Association of Realtors®:

IRS Loses $513M to Tax Credit Cheaters
A government investigation has revealed that the IRS likely paid more than half-million dollars in federal money to people who did not even qualify for the home buyer tax credit, such as prison inmates and taxpayers younger than 18.

House Flippers Return, Still Finding Profits
More investors are returning to the risky business of flipping homes for fast money, finding that even in a downturn profits can be made.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

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