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Real Estate Today 8-22-2012

22 Aug

In today’s news you’ll read that Zillow shows July real estate sales up, the wealthy are now turning toward investing in real estate funds, things to consider when refinancing a vacation home, applying the serenity prayer to real estate, and more.

‘Short Sales’ to Get a Boost
The Wall Street Journal | August 21, 2012
Homeowners could soon have an easier time selling their homes for less than what they owe on their mortgages, under new guidelines from a federal housing regulator and mortgage-finance giants Fannie Mae and Freddie Mac. (More on this at the FHFA site: http://www.fhfa.gov/webfiles/24211/ShortSalesPRFactFinal.pdf )

Best Places to Live
CNN Money | August 21, 2012
These terrific small cities offer what American families care about most – strong job opportunities, great schools, low crime, quality health care, and plenty to do.

Zillow: July Sees More Home Value Gains, Market to Cool in Fall
DSNews | August 21, 2012
Zillow released on Tuesday its Real Estate Market Reports for July, revealing that the company’s Home Value Index hit $151,600 for the month, a 0.5 percent gain from June and a 1.2 percent increase year-over-year.

Cities Have Long Been Skeptical of Economic Development Spending
The Wall Street Journal | August 22, 2012
To the long list of policymakers who have debated the wisdom and efficacy of cities and states using grants and tax breaks to attract companies, add Albert Weigel.

Rich Folks Go Where Pensions Dare Not
The Wall Street Journal | August 21, 2012
As big institutional investors pull back from investing in high-risk real-estate funds, these funds are turning to a new source for capital: rich people.

How the Serenity Prayer Applies to Real Estate
The KCM Blog | August 22, 2012
You may be wary of either buying or selling a home in today’s market. You may feel powerless to the process. How could YOU possibly know whether the current good news about housing will continue?

Refinancing a Vacation Home
The New York Times | August 16, 2012
Homeowners who want to take advantage of historically low mortgage rates and refinance a vacation home should be prepared for stricter loan requirements, especially if they rent out the property.

Americans showing better use of credit
The Spokesman Review | August 22, 2012
Americans continue to do a better job paying off their debts, with a leading index of defaults on mortgages, credit cards and auto loans dropping in July for the seventh straight month.

If you read the short sale article above, I’d love to hear what you think: Will the changes they’re making on short sale rules help the consumer and the agent get transactions done?  What’s the downside to these new short sale rules? ~Anthony

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Posted by on August 22, 2012 in Real Estate news

 

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