Today’s Real Estate News 6-22-2010

22 Jun

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

U.S. Reports Fewer Enrollees, More Dropouts in Federal Mortgage Relief Program
The Washington Post | June 22, 2010
The Obama administration’s marquee foreclosure-prevention initiative continues to struggle, as government data released Monday show that fewer homeowners are enrolling in the program and more are losing their federal mortgage aid.

Government Gives Itself High Marks on New Housing Scorecard
DSNews | June 21, 2010
The U.S. Treasury and HUD on Monday released a new monthly scorecard, touting the success of the administration’s full scope of efforts to stabilize the nation’s fraught housing industry.

Battles in California Over Mortgages
The New York Times | June 22, 2010
As the housing market continues to sputter, the real estate industry is increasingly split on the responsibilities of overextended and foreclosed homeowners.

Opposing View on Real Estate: It’s Still the American Dream
USA TODAY | June 21, 2010
There’s a reason homeownership is called the American Dream. U.S. history is replete with instances of government support of homeownership, from the Homestead Act during the Civil War to the G.I. Bill after World War II.

Real Estate Owned Inventory to Peak in Summer 2011: BarCap
HousingWire | June 21, 2010
The amount of REO inventory held by lenders is expected to peak in August 2011 at 545,000 properties, according to analysts at Barclays Capital. (Anthony’s note: It’s hard to imagine that we’re still 1 year away from the peak.)

From the National Association of Realtors®:

Top 10 Fastest Growing U.S. Counties
Suburban areas reign over urban centers when it comes to the 10 fastest-growing counties throughout the nation.

Developer to Pay Taxes on Unfinished Project
A Wisconsin Supreme Court ruling says that developers must pay taxes on condos approved for development, but not yet built. (Anthony’s note: This one surprised me.  Really?  Pay taxes on unbuilt condos?)

Insurance Scarce in Flood-Prone Areas
Congress expects to reauthorize the expired National Flood Insurance Program, and home owners who need flood insurance are being encouraged to apply now.

Single Buyers Choosing Suburbia Over Cities
In a survey of 1,000 unmarried buyers, 52 percent decided to move to the suburbs largely due to cost effectiveness and shorter commutes, according to a Coldwell Banker survey.

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
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