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Today’s Real Estate News 6-21-2010

21 Jun

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

Cost of Seizing Fannie and Freddie Surges for Taxpayers
The New York Times | June 19, 2010
Fannie Mae and Freddie Mac took over a foreclosed home roughly every 90 seconds during the first three months of the year. They owned 163,828 houses at the end of March, a virtual city with more houses than Seattle. The mortgage finance companies, created by Congress to help Americans buy homes, have become two of the nation’s largest landlords.

Tracking Real Estate Fallout of Gulf Spill
Inman News | June 21, 2010
A mortgage technology company is seeking data from Gulf Coast real estate professionals as it develops a website tracking the BP oil spill’s impact on home values.

Altos Index Shows Rise in Home Prices, First in Nine Months
DSNews | June 18, 2010
Analysis by Altos Research shows that home prices in most major U.S. cities have broken free of the downward spiral. The company’s 10-city composite index was up 0.2 percent in May – the first monthly increase recorded by Altos in nine months.

Economy Weak, Data Look Even Weaker
MarketWatch | June 20, 2010
The economic data to be released in the coming week are expected to be a mixed lot, while the Federal Reserve holds its regular meeting to assess how much progress is being made in the economy. The likely conclusion from the Federal Open Market Committee? Not enough.

Lenders Reclaim $10 Billion of Commercial Property: Report
DSNews | June 18, 2010
Distressed commercial real estate is being reclaimed by lenders at a rapid pace, but relatively few assets are being marketed and re-sold.

From the National Association of Realtors®:

Buyers Drive Hard Bargains in a Tough Market
Some industry experts complain that buyers have unrealistic expectations. But buyers counter that they’re just taking advantage of a favorable market.

Rates on 5-Year ARM Hit Record Low
Interest rates on five-year adjustable-rate mortgages averaged 3.89 percent this week, the lowest level since Freddie Mac began tracking them.

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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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