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Monthly Archives: March 2010

Today’s Real Estate News 3-31-2010


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

Home Prices Inch Up, but Analysts Fear Rebound is Fading
The Washington Post | March 31, 2010
Home prices rose modestly in January, according to a closely watched index released Tuesday, but some housing industry analysts remain concerned about the sustainability of the housing sector rebound.
Freddie’s Not Afraid Of Post-Fed Mortgage-Backed Market
Forbes | March 31, 2010
As of March 31 the Federal Reserve is no longer buying mortgage-backed securities (MBS), terminating a large component of its effort to stabilize and stimulate the economy.

CMBS Delinquencies Increase to 6 Percent in February
DS News | March 30, 2010
The delinquent unpaid balance for commercial mortgage backed securities (CMBS) increased to $47.82 billion in February, soaring $1.87 billion from January, according to the latest Monthly CMBS Delinquency Report released Sunday by investment rating agency Realpoint, LLC.

Consumers Slowly Show Signs of Springing Back
The Associated Press | March 31, 2010
A partial rebound in consumer confidence, a positive report on January home prices and an expected strong March from retailers suggest Americans are cautiously perking up.

House Flippers in U.S. Crowd Courthouse Steps in Hunt for Deals
BusinessWeek | March 31, 2010
During the U.S. housing boom, even amateur investors could buy and sell a property within a couple of months and turn a profit. Today there’s nothing amateur about house flipping.  (Editor’s Note: Everyone in our industry should spend one morning of their life at the local County Court House to watch the Trustee’s Sale process.  It’s fascinating to see.  In Spokane, that happens to be Friday mornings at 10:00 am inside the lobby of the Spokane County Court House on W. Broadway.  I may spend one morning down there in the coming with some of our sales staff just to observe.  Let me know if you would be interested in joining us.  If there is enough interest, we’ll plan ahead and let you know.)

From the National Association of Realtors®:

MLS Group Seeks Top-Level .MLS Domain
Fifteen multiple listing services have come together to form a nonprofit to build a .MLS for the Internet.

Loan Changes Could Alter Market
Next week, the FHA will raise upfront mortgage insurance premiums, which could have an adverse effect on the market.

Geithner: Commercial Troubles Can Be Managed
Though dozens of banks may collapse due to commercial real estate losses, Treasury Secretary Timothy Geithner says “we can manage through this process.”

Investors to Pick Up Slack in Mortgage Backs
Private investors are expected to begin purchasing mortgage securities after the Federal Reserve stops their program at the end of the week, which should keep rates about the same. 

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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!

 
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Posted by on March 31, 2010 in Uncategorized

 

Today’s News 3-30-2010


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

Foreclosure Fund Gets $600 Million to Help Residents of 5 More States Save Homes
The Washington Post | March 30, 2010
The Obama administration announced Monday that it is expanding by $600 million a fund aimed at helping states tackle the foreclosure crisis with locally tailored approaches.

Financial Reform Closer to Ending ‘Too Big to Fail’: Geithner
CNBC | March 29, 2010
The financial reform bill is moving closer to guaranteeing its two most important functions: that taxpayers will never again have to spend billions of dollars to rescue failing banks, and that institutions will never be considered too big to fail, Treasury Secretary Timothy Geithner told CNBC Monday.

Spurt of Home Buying as End of Tax Credit Looms
The New York Times | March 29, 2010
Nine hundred days after putting their house on the market, Andrew and Jane Palestini were beginning to think they might be stuck in Iowa forever. The looming expiration of the government’s housing tax credit pushed them into action.

Half of Commercial Mortgages to Be Underwater: Warren
CNBC | March 29, 2010
By the end of 2010, about half of all commercial real estate mortgages will be underwater, said Elizabeth Warren, chairperson of the TARP Congressional Oversight Panel, in a wide-ranging interview on Monday.

Cheap Mortgages May Last as Investors Take Over When Fed Leaves
Bloomberg | March 30, 2010
The Federal Reserve’s completion this week of its program to buy $1.25 trillion in mortgage bonds probably won’t mean significantly higher U.S. home loan rates as investors return to the market, replacing the Fed.

Homeowners Balk as Property Tax Bills Stay High
USA Today | March 30, 2010
Javier Hyland was furious when he got his latest property tax bill from Miami-Dade County. First, the county put the value of his ocean-view apartment at $417,000. He can’t see any way the place is worth more than $400,000 after a meltdown in the South Florida real estate market. Worse, the county assessed his neighbor’s bigger, nicer, newer flat at only $407,000: “Is that fair?” asks Hyland, a pricing manager for a shipping company.

 
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Posted by on March 30, 2010 in Uncategorized

 
 
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