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Monthly Archives: February 2012

Real Estate News 2-29-2012


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

Top Ten Higher-End Items Builders Will Likely Omit in 2012
Ted C. Jones Blog | February 21, 2012
The National Association of Home Builders surveyed their membership on what features will likely not be included in 2012 construction as much as in the past.  Builders were asked to rate these amenities from 1 to 5 with 5 being more likely to be included.

Housing Prices at Lowest Level Since ’02
Washington Post | February 29, 2012
The nation’s home prices have fallen to their lowest level since 2002, according to a private report, casting a troubling shadow over what has otherwise been a brightening economic recovery.

Where Housing Is Headed
The Wall Street Journal | February 28, 2012
The stage is set for a housing bottom in more markets, as prices have fallen modestly and inventory has dropped sharply. But two big questions loom: Will buyers’ confidence improve enough to increase sales? And will more homes hit the markets as banks process more foreclosures and traditional sellers move off the sidelines?

A Look at Case-Shiller by Metro Area.
The Wall Street Journal | February 28, 2012
The national composite, which covers the entire country and is only released on a quarterly basis, was down 4% from a year earlier and fell 3.8% in the fourth quarter compared with the third.

Refi Plan Under Way, But Disagreement on Future Changes
The Wall Street Journal | February 28, 2012
Two top U.S housing officials say the early results of a newly expanded refinancing program show it could indeed be a boost for the ailing housing market. At the same time, a federal housing regulator did not appear inclined Tuesday to enact further changes.

FHA to Review New Condo Restrictions
HousingWire | February 28, 2012
The Federal Housing Administration may revise recent regulations some say are hurting purchases and refinances for condominiums.

Risks Remain for FHA Insurance Fund, Donovan Says
HousingWire | February 28, 2012
Despite the unprecedented efforts of the administration to alter the trajectory of the Federal Housing Administration, considerable risks remain, Housing and Urban Development Secretary Shaun Donovan said.

Regulation Fuels 21% Surge in Bank Checking Fees, Javelin Says
Reuters | February 28, 2012
Consumers pay about 21 percent more in fees for basic checking accounts than they did six years ago, according to a study released today.

Las Vegas Loses Standing as Mortgage-fraud Capital
Las Vegas Review-Journal | February 28, 2012
Las Vegas, once identified as “ground zero” for mortgage fraud, is no longer among the nation’s top five regions for mortgage fraud per capita, according to an analysis by CoreLogic, a consumer financial information and research firm.

Anthony Carollo

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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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Real Estate News Today 2-28-2012


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

2-year old email chain still just as false
HousingWire | February 27, 2012
Internet rumors never die — especially when they concern Obama’s healthcare plan.
(Spokane, WA makes the news, though not in a good way.  I’m not saying I’m a fan of the health care plan, but I’m not a fan of false and misleading information either.  You need to read the article. ~Athony)

A U.S. Boon in Low-Cost Borrowing
New York Times | February 27, 2012
These are the best of times for the world’s most ravenous borrower, the United States of America.

Buyers Face Higher Fees At FHA
New York Times | February 27, 2012
Mortgages backed by the Federal Housing Administration — which allows a smaller down payment and has less stringent credit requirements than traditional mortgages — are about to get a bit more expensive. But whether the higher costs will damp demand for these mortgages remains to be seen, experts say, since many borrowers have nowhere else to turn.

Housing Regulator Starts Program to Sell Off Foreclosed Houses
The Hill | February 27, 2012
A federal housing regulator announced Monday that it will start selling foreclosed homes to investors in areas hit hardest by the housing crisis to provide stability to the ailing sector and boost the economic recovery. 

Contracts To Buy Homes At Nearly 2-Year High
NPR | February 27, 2012
The number of Americans who signed contracts to buy homes rose in January to the highest level in nearly two years, supporting the view that the housing market is gradually coming back.

Cash Buyers Squeezing Out Traditional Home Seekers
NPR | February 27, 2012
Not everyone wants to buy a mold-infested foreclosure, but Dan Grohs does. He and his Realtor are walking through a three-bedroom house in Minneapolis. The copper pipes have been stolen by vandals and the heat doesn’t work, but Grohs recently bid on the house — and he sees potential.

Fannie Mae Begins Marketing Foreclosed Homes as Rentals
The Wall Street Journal | February 27, 2012
Fannie Mae plans to sell nearly 2,500 foreclosed properties to investors in the first phase of an initiative to aid the U.S. housing market through bulk sales of distressed homes.

Today in the “just for fun” category, here you can watch the PSA spot that actor Michael Douglas, aka Godon Gekko, recorded for the FBI to warn investors about insider trading.

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

 

 

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Real Estate News Today 2-27-2012


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

Despite Falling Prices, Housing Burden Still High for Middle Class
The Wall Street Journal | February 24, 2012
Though home prices have fallen dramatically as a result of the housing bust, paying the monthly cost of owning or renting a home hasn’t become any easier for many middle-income Americans families, a new study finds.

Are Real Estate Agents Dinosaurs?
The Wall Street Journal | February 24, 2012
I got a surprising e-mail from a real estate broker this week. The topic: How real estate agents have become “dinosaurs,” done in by technology and a growing do-it-yourself ethos. It isn’t often that I hear from a stranger heralding her own profession as obsolete, so I called her.

Where Are All the Home Sellers?
The Wall Street Journal | February 24, 2012
Inventories of homes listed for sale in January dropped by 6.6% from December to 1.77 million, the eighth straight month that listings have declined. For-sale listings are 23.2% below year-earlier levels and at the lowest point since the housing bust accelerated five years ago, according to data from Realtor.com.

Economists: 2012 is Looking Up
Washington Post | February 26, 2012
Economists are increasingly confident that some pillars of the economy will improve this year, but they still remain cautious in their expectations on the overall pace of economic growth.

Wells Fargo to Expand GSE-Free Mortgage Lending
HousingWire | February 24, 2012
Wells Fargo finalized a new division built to originate mortgages outside of Fannie Mae and Freddie Mac guidelines.

Buffett Says Banks Victimized by Excesses of Evicted Homeowners
Bloomberg | February 27, 2012
Warren Buffett, who controls the biggest shareholding of the No. 1 U.S. mortgage lender, said banks were victimized by some homeowners who refinanced their loans before getting evicted.

Nearly 1 in 4 Households Use Over 1/2 of Income for Housing Costs
DSNews | February 24, 2012
Even with falling home prices, a study from the Center for Housing Policy found that affordability is still becoming increasingly out of reach for homeowners and renters.

Bank of America Scales Back Its Involvement in Mortgage Market
The Washington Post | February 26, 2012
Bank of America’s decision to stop selling new mortgages to Fannie Mae seemed a surprising move in a government-backed market in which few other options exist. But even before Thursday’s announcement, the bank had been scaling back its share in the mortgage market dramatically in the past year.

Beware: Mortgage Fees Are Rising
The Wall Street Journal | February 26, 2012
Increased fees are sneaking into the overall cost of most mortgages. But given the ultralow interest rates these days, it’s likely few borrowers will notice.

Anthony Carollo

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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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Real Estate News Today 2-24-2012


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

Bank of America Breaks With Fannie Mae
The New York Times | February 23, 2012
Bank of America said Thursday that it would no longer sell new mortgages to Fannie Mae, underscoring tensions in a fight between giants of the home loan market over billions in losses in the housing bubble.

Ranieri: The Case for Converting Foreclosures to Rentals
The Wall Street Journal | February 23, 2012
One of the pioneers of the U.S. housing-finance system is strongly endorsing government efforts to convert foreclosed homes into rental properties.

FHFA: 4Q Home Prices Down 2.4%
HousingWire | February 23, 2012
U.S. home prices fell in the fourth quarter of 2011 from a year earlier, according to the Federal Housing Finance Agency’s purchase-only house price index.

MBA: Rising Rental Costs May Drive Home Sales Up
HousingWire | February 23, 2012
Home sales could turn out sunnier than expected this spring based on data coming out of the rental market, according to economists at the Mortgage Bankers Association.

Moody’s: Big Banks Unlikely to Suffer From AG Mortgage Settlement
HousingWire | February 23, 2012
The $25-billion mortgage servicing settlement is expected to result in little financial impact on the nation’s big banks, Moody’s Investors Service said.

JPMorgan Places $72 Billion Bet on Global Homeowners
Bloomberg | February 23, 2012
JPMorgan Chase & Co. (JPM) has more than tripled its holdings of mortgage securities without U.S. government guarantees to $72 billion as the nation’s biggest bank bets on borrowers from outside the country it calls home.

Figuring Out How to Attract New Business
New York Times | February 23, 2012
We recently took a step back to look at the clients we have on our roster and how they got there. Interestingly, the majority did not enter our stable via our outbound marketing efforts, our list of targets to go after. Why was that, we wondered. A recent new business initiative may have provided the answer.

Revenue Eases Budget Pain for U.S. States
Bloomberg | February 23, 2012
For the past four years, U.S. states struggled to close more than $500 billion of budget shortfalls caused by the recession, ushering in tax increases, spending cuts and clashes with public-employee unions. With the economy recovering, officials gathering in Washington today for the National Governors Association winter meeting are beginning to face a welcome choice: how to spend extra money.

From the National Association of Realtors®:

How 23 Laws Impact Real Estate
New infographic shows when and how two dozen laws affect the real estate transaction. [This is a pretty good visual aid on all of the different laws that come into play.  Three issues come to mind worth mentioning: 1) This doesn't even begin to cover state and/or local laws, these are all federal, 2) what a great way to show a Realtor's value to clients who are thinking FSBO is the way to go, and 3) if you are a newbie or a veteran, I'll bet there is at least one on here you didn't know anything about. ~Anthony]
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

 

 

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How I use LinkedIn


Here is how I use LinkedIn:

·         I log in every day to view my home page and see what my connections are doing.  When appropriate, I comment or hit like.

 

·         I connect my Twitter account and my blog so that they both show up in my profile every time I post and they also show up on my connections home page when I post.

 

·         I scroll through the contacts of my new connections to see who THEY know that I also know that I can connect with.

 

·         I allow others to see my connections so that makes my profile more valuable to them and connecting with me more valuable.

 

·         I do NOT connect with my competition.  This is simply a personal preference.  That way my competition is NOT scrolling through my connections.

·         I use the feature called “Who’s viewed your profile?”  Sometime folks that I would like to connect with or start a conversation with have recently viewed my profile.  This is like a warm lead.

 

·         I am connected with folks from all over America.  I promote Spokane whenever I get the chance.

 

·         My LinkedIn profile contains everything my resume’ would.  I am always viewing other profiles to see what kind of life/work experience my connections have.  I assume they are doing the same with my profile.

 

·         Using LinkedIn, I have connected or reconnected with over 1,300 folks, many of which I am not connected with in any other way.

 

·         I have LinkedIn connected to my Outlook address book so I can easily look folks contact information up from my phone.

 

Description: Anth_09_headshot

Anthony V. Carollo
President
Stewart Title of Spokane
606 W. 3rd Ave., Spokane, WA  99201
509-321-3939 | M 509-999-7050 | F 509-329-0202
www.stewartspokane.com

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Please consider using Stewart Title on your next purchase, sale, or refinance

 
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Posted by on February 23, 2012 in Real Estate news

 

Real Estate News Today 2-23-2012


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

FHA to Announce Premium Changes Soon
HousingWire | February 22, 2012
The Federal Housing Administration will announce additional premium changes to its mortgage business and streamlined refinance programs in the coming days.

Home Resales Climb Higher
The Wall Street Journal | February 22, 2012
Sales of previously owned homes in the U.S. rose last month to the highest level in nearly two years, and the inventory of unsold homes contracted to a level considered healthy by economists, positive signs for the housing market.

Housing Takes Another Step Out of The Cellar
The Wall Street Journal | February 22, 2012
Wednesday brought further evidence that housing has climbed out of the sub-basement. But it’s a long way from heading up the stairs to expansion.

5 Markets Beating the Housing Bust
The Wall Street Journal | February 22, 2012
Stocks aren’t the only investments returning to pre-downturn levels. In some cities, home prices have recovered and in some cases even surpassed 2008 levels.

Homeowners Roll Up Sleeves to Trim Costs
The Wall Street Journal | February 22, 2012
In a rundown church gymnasium in Far Rockaway a few rough blocks from the ocean, Walter Mullins, a retired banker, provides homeowners with some valuable but hard-to-come-by tools in the struggle to survive the worst housing downturn in a generation.

Tozer: Ginnie Mae Backs Nearly All FHA, VA Mortgages
HousingWire | February 22, 2012
The head of Ginnie Mae said the government corporation has increased its role in the mortgage market since the housing bust, backing virtually every new loan guaranteed or insured by the major federal housing authorities.

Realtors Slam Obama Foreclosure-Rental Plan
The Wall Street Journal | February 22, 2012
The National Association of Realtors took a public shot at the Obama administration on Wednesday, criticizing an effort to alleviate some the housing market’s woes by renting out foreclosed properties.

Surge in Identity Fraud Tied to Smartphone Use
Bloomberg | February 22, 2012
Nearly 12 million Americans were victims of identity theft in 2011, an increase of 13 percent over 2010, according to a report released on Wednesday by the research firm Javelin Strategy & Research.

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

 

 

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Real Estate News Today 2-22-2012


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

FHFA Releases Plan for Freddie, Fannie Exit
The Washington Post | February 21, 2012
A federal housing regulator on Tuesday released a plan for beginning to scale back mortgage giants Fannie Mae and Freddie Mac — just as the Obama administration is pressing the taxpayer-backed companies to do more to help homeowners.

Grubb & Ellis Files for Bankruptcy
HousingWire | February 21, 2012
Commercial real-estate firm Grubb & Ellis filed for Chapter 11 bankruptcy protection as it faces liquidity problems and $30 million in debt that matures on March 1. Financial brokerage firm BGC Partners agreed to acquire the Santa Ana, Calif.-based firm with a $30 million credit bid.

Critics: Fed’s housing push crosses a line
The Washington Post | February 21, 2012
Senior Federal Reserve officials are injecting themselves into a noisy debate over how to solve the housing crisis, drawing criticism from some lawmakers who say the Fed has no business straying from its traditional role as the U.S. central bank.

Should Mortgage Rates Even Be Lower?
The Wall Street Journal | February 21, 2012
Mortgage rates are the lowest on record. But by a key historical measure, they should be even lower. Over the past year, a wide gap ripped open between the mortgage rates house hunters see and a benchmark interest rate investors demand to buy bonds backed by home loans.

Delinquency Rate Falls in January But Foreclosure Starts Rise: LPS
HousingWire | February 21, 2012
The delinquency rate on U.S. mortgages monitored by Lender Processing Services fell in January but foreclosure starts rose.

Under Volcker, Old Dividing Line in Banks May Return
New York Times | February 21, 2012
The Volcker Rule, and its limitations on bank trading, may have the unintended effect of dividing the world back into investment banks and commercial banks. The unusual twist here is that Goldman Sachs and Morgan Stanley may end up stuck on the wrong side of the fence, treated under the law as commercial banks instead of the investment banks they once were.

Moderate Growth Projected for 2012
DSNews | February 21, 2012

Overall, growth is expected to continue for the year, but at a modest rate, according to the Fannie Mae February 2012 Economic Outlook report.

IRS Releases the Dirty Dozen Tax Scams for 2012
IRS.gov | February 16, 2012
The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

From the National Association of Realtors®:

The 10 Most Popular Housing Markets
Find out which real estate markets garnered the most clicks at Realtor.com last month.

Is the Downsizing Trend Fading?
New homes built in 2011 were bigger in size and had more amenities and features compared to homes built in 2010, new Census data shows.

Anthony Carollo 2007 EMAIL  

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Find me on:   LinkedIn     Facebook

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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