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Real Estate News Today 7-30-2012

30 Jul

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Designing your own mortgage
Chicago Tribune | July 27, 2012
Here’s an appealing idea: What if you could design your home loan so the house is paid off exactly when your kids go off to college or when you retire? Or if you could refinance for 10, 12 or 17 years, instead of the standard 15- or 30-year terms on most fixed-rate mortgages?  (I’m curious if any of the loan officers or bankers reading this offer this kind of option.  Are borrowers showing interest?  If you are a borrower, is this something you would be interested in doing? ~Anthony)

The Economy’s Impact on Housing
The KCM Blog | July 30, 2012
With the economic recovery sluggish at best, many ask what impact this has on housing. Over the last several years, most economists believed that housing would not recover until the overall economy recovered. However, it now seems that the housing sector may be a driving influence in the recovery. Here are four reports released in the last 30 days affirming this point.

Housing Isn’t a Horror Show Anymore
The Wall Street Journal | July 27, 2012
Housing is finally contributing to economic growth in a sustained way.

Why Do Investors Pay Higher Mortgage Interest Rates?
The Wall Street Journal | July 27, 2012
Investors pose added risks to lenders—and they pay the price.

Chicago Considers Eminent Domain to Seize Underwater Mortgages
HousingWire | July 27, 2012
The idea first came under consideration in San Bernardino County, Calif. Venture capital firm Mortgage Resolution Partners is pitching the idea to several cities across the country.

Where Homes Are Selling the Fastest
Realtor Mag | July 27, 2012
The average number of days homes are spending on the market has dropped by nearly 10 percent nationwide in the last year, according to June housing data from Realtor.com.

Home Owners Torn on Strategic Default: Right or Wrong?
RealtorMag | July 27, 2012
Forty-five percent of Nevada home owners recently surveyed say “there is nothing wrong” with walking away on your mortgage obligations, according to a new report, “Face of Foreclosure,” released by the Nevada Association of REALTORS®. On the other hand, an equal number of home owners say home owners have a “legal and ethical obligation to pay their mortgage if they can.” 

Warren Buffet Wants Your Mortgage Payments: Street Whispers
The Street | July 30, 2012
Few Americans are aware of it, but Berkshire Hathaway has been quietly positioning itself to take over an important role played by Bank of America in the mortgage market.

Another Top-10 List: Largest Asking Price Increase
Jones on Real Estate Blog | July 25, 2012
The big story in housing is actually two stories (which are related): 1. Rising Listing Prices 2. Shrinking Inventory  (A fine analysis from Dr. Ted Jones on why listing prices are going up. ~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

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