Today’s Real Estate News 5-6-2010

06 May

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

Many of my clients have asked over the years about how foreclosures work, what are the foreclosure timelines, what are the rights of redemption, etc.  Some have asked me about other states’s laws.  Here is a pretty decent website on foreclosures within each state.  You choose the state, and it briefly summarizes how foreclsoures are done there.  (Scroll down to “Foreclosure Laws”)

Still Betting on a Housing Recovery | May 4, 2010
If you are a “glass is half-empty type” when it comes to the future of real estate-and judging from my mail bag, a significant percentage of you are-there is a lot to hang your hat on these days.

Senate OKs Ban on Use of Taxpayer Funds in Bank Bailouts
Los Angeles Times | May 6, 2010
The Senate, opening debate Wednesday on amendments to the sweeping overhaul of Wall Street regulation, adopted a bipartisan compromise establishing new procedures for averting another financial meltdown like the 2008 crisis.

Geithner Says Can’t Take All Risks out of Banking
ABC News | May 6, 2010
Treasury Secretary Timothy Geithner said on Thursday that banks must be able to engage in some risk-taking to help their customers and it would be a mistake to remove their ability to do so.

Push to Keep Fed Small Bank Oversight Gains Backer
Reuters | May 5, 2010
A push to keep the U.S. Federal Reserve in the business of supervising smaller banks, a power it could lose in a congressional overhaul of financial regulation, gained an influential backer on Wednesday amid lobbying by top officials of the central bank.

Credit Still Tight Among U.S. Lenders: Fed Survey
DSNews | May 5, 2010
Banks have yet to loosen their tight grip on credit. The Federal Reserve’s latest survey of senior loan officers found that most banks maintained stringent lending standards in the first quarter, while some tightened lending terms further.

Senate GOP Proposes Alternative Consumer Plan
NPR | May 5, 2010
Republicans offered a weaker alternative to consumer protection measures that are central to President Obama’s Wall Street regulation plan, opening a new front Wednesday in the Senate debate over how to rein in financial institutions.

US in Recovery But Low Rates to Stay: Fed’s Rosengren
CNBC | May 6, 2010
The U.S. economy is showing signs of improvement but the recovery still has a long way to go and ultra-low interest rates are still needed, a top Federal Reserve official said on Wednesday.

Real estate investors: Changes to Tax Structure May Further Depress Market
Finance & Commerce | May 5, 2010
Developers and real estate investors weren’t really waiting for the other shoe to drop ? but it looks like that’s going to happen.

From the National Association of Realtors®:

NAR Grants Give Working Families a Boost
More than $3.4 million in downpayment and financial assistance programs have helped low- and moderate-income families own a home in communities with a high cost of living.

Mortgage Volume Rises for 3rd Straight Week
Purchase applications jumped 13 percent last week as buyers rushed to meet the tax-credit deadline, according to the Mortgage Bankers Association.

Green Buildings Owners Are a ‘Good Risk’
A major insurance company has announced it will start offering a “green” liability product for residential and commercial spaces.

Low Prices Attract Buyers to Historic Buildings
Unusual, historic properties are proving to be great deals for commercial investors.

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Anthony Carollo 2007 EMAIL  Follow acarollospok on Twitter

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

Please remember to choose Stewart Title of Spokane on your next transaction!



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