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Real Estate News Today 8-2-2012


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RBS: Underwater mortgages hold steady without eminent domain
HousingWire | August 1, 2012
A higher percentage of underwater borrowers are still making payments, specifically in areas considering eminent domain to seize the loans and write down principal, according to research from the Royal Bank of Scotland

CA Homeowner Bill of Rights ignores logic
HousingWire | August, 2012
While some of the California Homeowner Bill of Rights provisions are reasonable, given the recent problems resulting from an unprecedented wave of foreclosures in the state, many others will needlessly interfere with a process that has mostly worked as intended.

What Cities are Best for Seniors?
USA Today | August 1, 2012
Seniors looking for the best city to grow older in may be better off flocking to the Midwest than sunny Florida, according to a recent report.

How to Navigate Today’s Mortgage Doc Maze
Bloomberg | August 1, 2012
If you want a chance of grabbing a sub-4 percent mortgage the latest challenge is being prepared to run the document gauntlet and become a supplicant to the underwriting gods.

Smaller U.S. Banks Seeking Exemption From CFPB Mortgage Rules
Bloomberg | August 2, 2012
Community banks are lobbying the Consumer Financial Protection Bureau to be exempted from two forthcoming regulations on mortgages.

City of Spokane works to bring down ‘silos’
Spokane Journal of Business | August 2, 2012
You can’t see it when driving along Spokane Falls Boulevard, but according to Jan Quintrall, the silos are coming down at City Hall.

Recent moves hint of a housing recovery
Spokane Journal of Business | August 2, 2012
After years of looking for any sign that the housing market was doing anything other than bumping along the bottom, indications that a recovery is under way have emerged.

Most second homes would escape new 3.8 percent tax
InmanNews | August 1, 2012
The warm summer weekend at the lake brought out sailors, wake boarders and even some old-time slalom water skiers. The discussion on more than one dock also focused on an additional tax on second homes.

And today in the “just for fun” category,
we offer you the Olympic medal standings from NBCBy the way, how do you feel they’re doing on their coverage?  They seem to be getting more criticism than praise. Thanks for reading our newsletter today!

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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 6-13-2012


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

New Mortgages 20% More Likely to Default than Those from the ’90s
DSNews.com | June 12, 2012
Investors and lenders should expect loans currently originated to have a 20 percent higher chance of default than those originated in the ’90s due to current economic conditions, according to the University Financial Associates (UFA). (Keeping in mind that this is only one firm’s position, it does seem to me that the US homebuyer’s mindset has turned a corner. It used to be that foreclosure normally only happened to those folks that couldn’t afford their house payment.  ‘Strategic default’ is a now socially acceptable option if things get tight. This adds a whole new segment of consumers who will be foreclosed upon in the future.  ~Anthony)

Shortage of homes for sale creates fierce competition
Los Angeles Times | June 10, 2012
The newest problem for the slowly improving housing market isn’t a shortage of serious buyers, it’s a shortage of good homes.

Landlords Cash in on Higher Demand
RealtorMag | June 12, 2012
Taking advantage of an increase in home owners-turned-tenants, apartment landlords are raising their rents and expect to continue to do so.

Rental Market Still Tightening: Moody’s
DSNews.com | June 12, 2012
With vacancies declining and rental prices rising, the climate in the housing industry is clearly warming up to rental properties.

Wells Fargo to limit FHA Streamline participation
HousingWire | June 12, 2012
Wells Fargo will only accept new streamlined refinancing on Federal Housing Administration mortgages serviced in-house beginning June 19, according to an alert sent to lenders Tuesday.

US GDP – Not As Pretty As Otherwise Indicated
Ted C. Jones Blog | June 11, 2012
If you looked at the basic U.S. Gross Domestic Product (GDP) numbers, you would conclude that the U.S. is gaining economic ground. 

Trade Group to Call for CFPB Official to Resign After Remarks
DSNews.com | June 12, 2012
Sparking indignation in the mortgage broker community, Raj Date, deputy director of the Consumer Financial Protection Bureau laid the bulk of the blame for the housing crisis on brokers during a speaking engagement Monday. His statements have led at least one industry trade group to call for his resignation. (I know lots of really good and honest mortgage brokers who helped many, many of consumers. Like many industries, there was a segment that took advantage of some consumers and gave the others a bad name. ~Anthony)

Endless QE? $6 Trillion and Counting
Reuters | June 13, 2012
Many more years of money printing from the world’s big four central banks now looks destined to add to the $6 trillion already created since 2008 and may transform the relationship between the once fiercely-independent banks and governments.
 

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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Posted by on June 13, 2012 in Real Estate news

 

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Real Estate News Today 5-17-2012


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

Report: Sellers Boosted Prices in April
The Wall Street Journal | May 16, 2012
Median list prices rose by 0.7% in April from March to their highest level in nearly one year, even as the number of homes listed for sale stood at levels down nearly 19% from one year ago, according to a report released Wednesday.

US Housing Starts Rose to 717,000 in April
BusinessWeek | May 16, 2012
U.S. builders began work on more homes last month, evidence that the battered housing market is slowly healing.

Fed Officials Open to More Efforts to Stimulate Economy if Recovery Worsens
The Washington Post | May 16, 2012
Several members of the Federal Reserve’s policymaking committee said they would consider expanding efforts to stimulate the U.S. economy if threats to the recovery worsen, according to minutes of the panel’s April meeting.

CFPB To Mortgage Originators: We Hear Your Compensation Concerns
Reverse Mortgage Daily | May 16, 2012
The Consumer Financial Protection Bureau says it is listening to mortgage industry feedback in its loan originator compensation rule making. A federal official told industry members Tuesday that its recent rule making discussion is far from final, according to a report from National Mortgage News.

Mortgage Lenders Maneuver to Gain Market Share
HousingWire | May 16, 2012
Contrary to behavior by many of the too-big-to-fail financial institutions, other mortgage companies are expanding their origination lines to capture a bigger piece of the market.

HUD Studies Suggest Counseling Keeps Owners in Homes
DSNews.com | May 16, 2012
Buying a home is the biggest financial investment many people will ever make. It’s also an investment that, in recent years, has become lost for millions. According to data from CoreLogic, since September 2008, there have been 3.5 million completed foreclosures.

Check out this interest rate graph and where 2012 interest rates are compared to the previous two years; 2012 is in red.  Wow.

 

Rates pic week of 051312

 

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 5-2-2012


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

Mortgage Purchase Applications Rose Last Week
CNBC | May 2, 2012
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.1 percent in the week ended April 27. (Perhaps more importatly, 30 year fixed rates declined to 3.69% which is a decline from  3.72% the previous week.  See Thirty-Year Fixed Rate Mortgage Hits 3.69%: Zillow  from The MReport.com ~Anthony)

Ability-to-Repay Rule for Mortgages Nears CFPB Approval
Bloomberg | May 1, 2012
The director of the Consumer Financial Protection Bureau is aiming to discourage lenders from making home loans with risky features and outlining steps they must take to verify borrowers’ finances, as part of the “qualified mortgage” or QM regulation.

Wells Fargo Doubles Down on Housing
HousingWire | May 1, 2012
Wells Fargo has thrown caution to the wind and is aggressively writing new business in both residential and commercial real estate loans.

Renters Really Prefer Owning, Builder Survey Says
The Wall Street Journal | May 1, 2012
A survey from PulteGroup — one of the nation’s largest home builders — has found a surprising result: Many renters want to buy homes.

Bad Models Mistook Housing Bust for Dot-Com Bubble
Bloomberg | May 1, 2012
In a speech last month about the financial crisis, Federal Reserve Chairman Ben S. Bernanke trenchantly noted that the initial losses from the dot-com bust were about the same size as those from the housing meltdown — yet the two episodes had very different economic consequences.

Foreclosures Held Steady in March
Los Angeles Times | May 1, 2012
The number of U.S. homes struggling through foreclosure held steady in March but fell from a year earlier, new data show, indicating that the huge wave of foreclosures that some housing experts keep predicting isn’t even a whitecap yet.

Jobs Growth Seen Rebounding in April
Reuters | May 1, 2012
Hiring by U.S. employers likely rebounded in April, which could ease worries the economy has stumbled into a soft patch.

What Smart Buyers Should Know About Time Shares
USA Today | May 1, 2012
Timeshares may sound like an inexpensive way to live a little large once a year, but they will cost you for years to come unless you find someone to buy it.

Attacks Against Real Estate Professionals Surge
RealtorMag | May 1, 2012
The number of assaults against real estate professionals is on the rise, with the nature of attacks becoming more violent and sometimes deadly.  (There are some eye-popping numbers in here that should make us all a little more cautious.  One item of note is that the category includes landlords, appraisers, etc. It didn’t say anything about title/escrow people.  ~Anthony)

Anthony Carollo 2007 EMAIL

 

Join My List

 

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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