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Real Estate Today 9-10-2012


Last week we talked about the Spokane Valley home that was vandalized as it sat vacant.  We received some excellent feedback from readers about how to better secure a listing from vandalism.  Check it out!

Real Estate Advice to Sellers from The Pros

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Deal to Avert U.S. Fiscal Cliff Could Start With Alternate Tax
Bloomberg | September 10, 2012
An expansion in the reach of the alternative minimum tax is the element of the U.S. fiscal cliff with the largest immediate effect on taxpayers and the most bipartisan appetite for a solution, creating the possibility that lawmakers could use it to propel Congress toward a deal.

Investors Cash-in on Land Deals as U.S. Housing Picks Up
Reuters | September 10, 2012
From the outskirts of Las Vegas to the coast of California, stretches of undeveloped land in some of the most depressed housing markets in the U.S. are in high demand.

Housing on Mend, but Full Recovery Is Far Off
The Wall Street Journal | September 9, 2012
Home prices during the first half of 2012 posted their strongest gains in six years, the clearest sign that more U.S. housing markets have hit bottom.

Are Short Sales Really That Bad?
FICO Banking Analytics | September 7, 2012
Critics assert that since short sales do not cost the bank as much money as foreclosures, the penalty to a credit score should be less, commensurate with the financial impact on a lender.

Breaking the Home-Buying Habit
The Wall Street Journal | September 7, 2012
Just how many cheap homes should an investor buy?

Let’s Not Get Carried Away with Home Price Increases
The KCM Blog | September 10, 2012
There has been a lot of excitement about home prices over the last few months. Though we agree that the housing industry is in a full out recovery, we also believe that there will still be price volatility over the next several months. We must realize home sales are seasonal and that fact impacts prices.

Multifamily Market Posts Strong Gains
RealtorMag | September 7, 2012
In the second quarter of this year, the apartment and condo market reached their highest levels since the second quarter of 2005, according to the Multifamily Production Index, released by the National Association of Home Builders.

Here’s the Dirt: Housing projects sprout in CdA
The Spokesman-Review | September 9, 2012
Multifamily housing projects continue to be popular in Coeur d’Alene, with developers proposing two new complexes with a total of 160 units.

 

 
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Posted by on September 10, 2012 in Real Estate news

 

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Real Estate Today 8-30-2012


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Will Housing Lead A U.S. Recovery?
Forbes | August 27, 2012
The residential real estate market appears to have been one of the few encouraging areas within the U.S. economy during the second quarter.

‘The Economy Stole My Retirement’
The Wall Street Journal | August 29, 2012
The uncertain economy has left millions of small-business owners in their 60s and 70s unable to retire and forced to hang on for a recovery that economists say could still be a long way off.

The Housing Recovery Is Looking Better and Better
The Wall Street Journal | August 30, 2012
One of the biggest economic stories this summer has been the gradual improvement in the battered housing market. Wednesday’s data further reinforces that point.

Fewer Americans are Late on Mortgage Payments: Fed Bank of New York
HousingWire | August 29, 2012
Fewer Americans fell behind on their mortgages, credit cards and auto loans in the second quarter of 2012, the Federal Reserve Bank of New York said in its Quarterly Report on Household Debt and Credit.

Housing Market Improvements Lessen Consumer Distress
The New York Times | August 30, 2012
Improvement in the nation’s housing markets has helped ease consumer financial woes, according to a quarterly report from a large credit counseling agency.

U.S. Pending Home Sales Highest Since April 2010
The Wall Street Journal | August 29, 2012
The number of U.S. home buyers who signed contracts to purchase previously owned homes rose last month to the highest level in more than two years, the latest sign of a strengthening housing market. (Was April 2010 at about the peak of the tax credit bump, or was that later for pending home sales? ~Anthony)

Baby Boomers About to Bust Out of Homes
The KCM Blog | August 30, 2012
There is little doubt that the baby boomer generation has had a major impact on the housing market as they proceed through the different stages of their lives. And they are about to go through the next stage – retirement. The opportunity that this next transition will create will be enormous. Let’s take a look.

Silicon Valley’s Boom Creates Shortage of $1 Million Homes
CNBC | August 29, 2012
The capital of high tech is now the capital of high-priced real estate.

Keep the responses coming and we’ll use them when we can!

Reader response to the article 2 must-have contingencies in a home purchase offer:
“In addition to that, the water should be tested and the septic (if there is one) should be both pumped and inspected.  Also:  If it is a rural or large lot — especially older property — there should be a boundary line survey if the property corner points cannot be located.  My verbiage goes something like this: “Seller shall locate & clearly mark the property points.  If points cannot be identified and a new pin must be placed, then seller will order and pay for both the survey and the re-recording of that survey prior to closing.”  Several times I have discovered, on behalf of my clients, that fence lines or barns are not on the property.“

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Posted by on August 30, 2012 in Real Estate news

 

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Real Estate Today 8-8-2012


Are you on Facebook?  We’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
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Recovery or Not, Home Prices Keep Rising
The Wall Street Journal | August 7, 2012
CoreLogic, a real-estate data provider, weighed in with its view of what’s happening with home prices. According to the firm, prices are up 2.5% in June.

U.S. Mortgage Application Volume Down 1.8%
The Wall Street Journal | August 8, 2012
The number of total mortgage applications filed in the U.S. last week slipped 1.8% as interest rates for 30-year fixed-rate mortgages crept higher, the Mortgage Bankers Association said Wednesday.

Is the Fed Eyeing a Housing Solution?
The Wall Street Journal | August 7, 2012
So, another big bond-buying program, a so-called QE3, might be the Fed’s way of riding that pony, pushing the housing market, and hoping that gooses the economy.

Record One-third of GSE Refinances Close Via HARP
HousingWire | August 7, 2012
One of every three refinances through Fannie Mae and Freddie Mac closed via the Home Affordable Refinance Program, the highest number since the program’s inception in April 2009.

Small Banks Dislike Rules
The Wall Street Journal | August 7, 2012
Executives at many small banks complain that Basel III could force them to cut back on lending, and they have been blunt in their criticism of the new rules.

Freddie Mac Posts $1.2B Net Income
The Washington Post | August 7, 2012
The government-controlled mortgage giant isn’t requesting any additional federal aid for the period.

Harder-Luck Foreclosures Grow as Funding for Help Wanes
BusinessWeek | August 7, 2012
Larrone Brown has been dodging foreclosure since losing his job in December 2010. He has twice been denied a mortgage modification and says he expects a foreclosure notice any day.

MetLife Fined by Fed Ahead of Exit From Banking
BusinessWeek | August 7, 2012
MetLife Inc., the insurer seeking an exit from banking to limit U.S. regulation, was penalized $3.2 million by the Federal Reserve for lapses tied to the servicing of loans and handling of foreclosures.

 
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Posted by on August 8, 2012 in Real Estate news

 

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Real Estate News Today 7-5-2012


Running a little behind this morning.  Many thanks to my friend Kevin Parker and Dutch Bros. for the kick in the pants today.  (:-)  Check out and Like their Facebook page! Facebook 

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

It Takes a Little Work to Take a Vacation
The New York Times | July 4, 2012
Of all the challenges small-business owners face, one of the toughest is taking a vacation. (As Realtors, you are in an industry that has the most difficult time taking a vacation.  What’s the secret, if there is one? ~Anthony)

The John Grisham of Real Estate?
RealtorMag | June 28, 2012
Noting the success of author/lawyer John Grisham in spotlighting his profession in fiction, C.M. Nevill thought it was about time real estate took the dramatic stage of the action-adventure novel. 

Multifamily housing bubble may be in the future
HousingWire | July 3, 2012
While single-family housing starts remain down, rental demand is driving new multifamily construction. But how long the demand will last is uncertain — an uneasy consideration for investors whose current investments may take years to hit the market.

Some Points about Points
The KCM Blog | July 5, 2012
One of the more frequent topics discussed between loan officers and borrowers center around discount points. So today, I decided to give you some information and some things to consider. (I really enjoy their blogs.  They consistenly provide value which is something we are constantly trying to do.  Today’s blog is no exception.  Lenders: is there anything you would add to this? Email me at acarollo@stewart.com ~Anthony)

Rents Increase as Vacancies Dry Up
The Wall Street Journal | July 4, 2012
Landlords boosted apartment rents to record levels in the second quarter as demand from tenants sitting out the home-buying market pushed vacancy rates to their lowest point in more than a decade, according to a report to be released Thursday.

Cybercriminals Sniff Out Vulnerability
The Wall Street Journal | July 4, 2012
With cybercriminals a greater threat to small businesses than ever before, more entrepreneurs are left asking themselves who is to blame for hacking attacks that drain their business accounts. 

Small Business Lending Recovers, Delinquencies Drop to Record Low
The Washington Post | July 5, 2012
The overall volume of loans to small companies rose 12 percentage points in May, marking the largest month-to-month increase in three years and nearly erasing four consecutive months of decline to start 2012, according to the latest data released by Thompson Reuters and PayNet. J.D. Harrison JUL 3 Lenders are warming up to small firms again, but is it enough to trigger investments and hasten

Struggling Homeowners Avert Foreclosure Via Mediation
Reuters | July 5, 2012
Verise Campbell was excited. She could finally help struggling homeowners negotiate deals with their lenders to avoid foreclosure, but the angry response to her first phone call shocked her.

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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 3-28-2012


We have a new clock hour class coming up at our Spokane office!  Check out “The Dark Side of Escrow” on our Facebook page.

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

This week Stewart lands itself on a Forbes list!
America’s Most Trustworthy Companies
Forbes | March 20, 2012
Over the last few years, corporate scandals, bailouts, and bankruptcies have greatly damaged investors’ trust in some of the country’s largest public companies. However, even today, many corporations are models of openness and integrity.

Rising Rates: Some Business Owners Face Increase
The Wall Street Journal | March 28, 2012
Business owners say they’ll face hundreds or thousands of dollars in higher yearly costs. (We all knew it was coming, right? ~Anthony)

Tweaks to Wall Street Overhaul Law Starting to Move
CNBC | March 27, 2012
Support is growing in Congress for tweaks to the 2010 Dodd-Frank financial oversight law, a possibility that until recently seemed remote given partisan acrimony over the law, as well as between Republicans and Democrats.

Housing Experts Optimistic, Despite Dismal Data
The Washington Post | March 27, 2012
There’s no shortage of depressing numbers about the state of the nation’s housing market. Home prices continue to fall, a key index showed Tuesday. Sales of new and existing homes recently declined.

Improving Your Financial Literacy is a Good Investment
The Washington Post | March 27, 2012
Survey after survey continues to conclude that consumers don’t have a good grasp of personal finance issues. There are good intentions behind these surveys. Their purpose is to find out how to create financial literacy programs to help people understand the importance of saving and investing, the devastating results of taking on too much debt, and how to avoid becoming a victim of fraud.

Supreme Court to Consider Medicaid Expansion
The Washington Post | March 28,2012
Justices will also consider whether the entire health-care law must fall if the individual mandate is found unconstitutional.

Q&A: The Prospects for Commercial Real-Estate Lending
The Wall Street Journal | March 28, 2012
Prudential Mortgage Capital is looking to grow its loan volume up to as much as $11.6 billion this year. An executive talks about where he sees commercial real-estate opportunities in the market.

Homeless Being Trained as Squatters?
Realtor Magazine | March 27, 2012
“The best properties are city-owned properties or bank-owned properties,” a board member to a New York City advocacy group reportedly told a homeless group in teaching them about “homesteading.” 

Freddie’s Haldeman: Would have been happy with $1 in exec pay
HousingWire | March 26, 2012
The outgoing CEO of Freddie Mac , Charles ‘Ed’ Haldeman, is in a state of reflection. He predicts he will leave by mid-year and is deeply dismayed at some of the things that happened in the short time he held the reins at Freddie Mac. (I had this article in yesterday’s issue, and last night I was thinking more about it.  I don’t often comment about an individual but today I’m saying “Hogwash!”  He says he would have taken $1 instead of his $900,000 annual salary, but I don’t buy the reason he gives for his change of heart. Not that I begrudge him the money, I don’t care what he makes.  There’s my two cents worth.  ~Anthony)

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 3-27-2012


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

FHA Bailout Risk Looming Larger After Guarantee Binge: Mortgages
Bloomberg | March 27 2012
The Federal Housing Administration won?t be able to earn its way to financial health this year, increasing the chance it will need a taxpayer bailout, based on an updated forecast from Moody’s Analytics, which provides the agency’s housing-market analysis.

Low Interest Rates Put Cash in Americans’ Pockets
USA Today | March 26, 2012
A historic drop in interest rates is helping save U.S. households more than $3,000 a year on average, allowing consumers to spend more even as their earnings fall.  (While the low interest rates DO help folks to spend more, here is another viewpoint that shows how those same rates hurt retirees. ~Anthony  How the Fed Hurts Retirees )

FHA to Deny Mortgage Backing for Credit Disputes Above $1,000
HousingWire | March 27, 2012
Beginning April 1, potential borrowers with ongoing credit disputes totaling more than $1,000 will not be able to get a mortgage insured by the Federal Housing Administration.

Lawsuit Against Fannie Mae, Freddie Mac May Give State Millions
Detroit Free Press | March 26, 2012
Michigan’s school aid fund could get a windfall of up to $100 million, and 82 of Michigan’s 83 counties could collectively claim millions more under a judge’s ruling last week that mortgage giants Fannie Mae and Freddie Mac illegally withheld payments of transfer taxes in property sales.

Fed Will Keep Interest Rates Low, Bernanke Signals
The Los Angeles Times | March 26, 2012
Though the labor market and the economy have improved in recent months, he stresses that labor-market conditions are “far from normal.”

White House, Democrats at Odds Over Obama-Backed Pro-Business Bill
The Washington Post | March 26, 2012
Obama allies are in uproar over pro-business legislation embraced by the president, exposing a new rift in his relations with Democratic lawmakers and supporters amid efforts to mend those ties.

Freddie’s Haldeman: Would have been happy with $1 in exec pay
HousingWire | March 26, 2012
The outgoing CEO of Freddie Mac, Charles ‘Ed’ Haldeman, is in a state of reflection. He predicts he will leave by mid-year and is deeply dismayed at some of the things that happened in the short time he held the reins at Freddie Mac. (While I don’t know much about the guy, Haldeman’s interview points about the focus of the two Congressional hearings is revealing. ~Anthony)

Market Has ‘Tall Order to Fill’ as $362B in CRE Loans Matures in 2012
DSNews.com | March 26, 2012
The commercial real estate (CRE) sector faces $362 billion in maturing debt this year, according to the latest estimates from Trepp LLC, a New York-based provider of commercial mortgage information and analytics.

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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 3-13-2012


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

Homebuilder spring selling season off to solid start
HousingWire | March 12, 2012
The homebuilder spring selling season just started, but reports from the field confirm that sales activity in communities are materializing in a way not seen in years, Barclays Capital said.

Deeply Underwater Homeowners to Get Most Aid from Foreclosure Deal
Los Angeles Times | March 12, 2012
Homeowners more deeply underwater on mortgages handled by five major U.S. banking firms are prime candidates for getting help from a $25-billion nationwide settlement over alleged foreclosure abuses.

Banks, Meet the New Foreclosure Monitor
The Wall Street Journal | March 12, 2012
The mortgage industry has a new cop on the beat: Joseph A. Smith Jr. Mr. Smith resigned his post last month as North Carolina’s top banking regulator to serve as the new monitor of the $25 billion mortgage settlement that was filed in federal court on Monday.

Hispanics Projected to be Mega-Consumer in Housing Market
DSNews | March 12, 2012
With Hispanics as the largest minority group in the U.S., mortgage industry professionals should also expect Latinos to be key players when it comes to America’s home buying future, according to the 2011 State of Hispanic Homeownership report released by the National Association of Hispanic Real Estate Professionals.

Americans Grow More Confident in Housing Recovery
BusinessWeek | March 12, 2012
Potential homebuyers and sellers are growing more confident that the U.S. real estate market will begin to recover as soon as next year, according to a Prudential Real Estate survey.

Gov’t Trims Half of its Foreclosure Inventory
Realtor Magazine | March 12, 2012
“The GSEs sold REOs at a record pace in 2011,” HousingWire reports. Find out by how much Fannie, Freddie, and HUD trimmed foreclosure inventories.

Knock it out of the Park: Use Statistics
Inman Next | March 5, 2012
Imagine for a moment that you had $41 million to invest in your real estate business. Now imagine that another agent had $139 million available to compete against you in procuring closed transactions. With more than a 3-to-1 disadvantage, would you be able to generate as many sales or would your competition crush you with more available capital?  (Here is an excellent blog from Inman Next on the value of knowing your market -no matter what real estate function you perform-, and a different way of looking at the market stats. ~Anthony)

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Find me on:     LinkedIn     Twitter     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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