Today’s news that may be of interest to you:
Tax Credit Deadline Extension in Jeopardy
Approximately 180,000 buyers who signed sales contracts before April 30 could lose out on the home buyer tax credit if their deals are not complete by June 30 and Congress fails to pass an extension. (Anthony’s note: I heard today that the measure in the Senate to extend the tax credit failed late last week. Here’s a link to a brief article: http://bit.ly/9rocf2 )
Elizabeth Warren: Why Credit is Still Frozen
Bloomberg Businessweek.com | June 24, 2010
The congressional TARP watchdog says there’s no evidence that the $700 billion bailout boosted lending to small business.
Market Faces Major Change, But Suburbs, Small Cities May Hold Onto Their Advantage
Nation’s Building News | June 28, 2010
The worst of the housing downturn may be over, according to speakers at PCBC earlier this month in San Francisco, but builders are apt to find themselves on an unfamiliar path to recovery and can expect to see fundamental changes in what motivates prospective home buyers.
Top 10 States for Pending Tax Credit Closings
Inman News | June 28, 2010
The National Association of Realtors continued to lobby lawmakers today to pass legislation that would extend by three months the deadline for closing on a home purchase in order to claim the federal homebuyer tax credit.
The Slippery Slope of Short Sales
HousingWire | June 28, 2010
This past week, I received an email from one of my dearest friends that has really stuck with me. It illuminates perhaps one of the single largest shifts in borrower psychology likely to come from a push to short sales.
Good Schools, Bad Real Estate
The Wall Street Journal | June 25, 2010
Oh, the sacrifices parents make. Kiely and John Adams began their house hunt this spring with grand plans to upgrade from their small home in Cary, N.C., to a larger, four-bedroom house-preferably with an office and a bonus room-about 25 miles away in Chapel Hill, where Kiely plans on starting a Ph.D. program next fall.
Regulators Point to Improving Loan Performance Across The Board
DS News | June 24, 2010
Well before Congress reached agreement on the details of its financial overhaul legislation, industry lobbyists and consumer advocates started preparing for the next battle: influencing the creation of several hundred new rules and regulations.
Scamming the System for $8,000 Tax Credits
CNNMoney.com | June 25, 2010
Some homebuyers are angling to claim the $8,000 tax credit even though they missed the deadline. To claim the credit, buyers had to sign contracts by April 30 and close the sales by June 30. But real estate agents say some buyers are demanding quick closing dates to meet the June 30 deadline, even though they failed to meet the April 30 deadline.
From the National Association of Realtors®:
Banks: We’re Hiring
Banks are staffing up on loan originators to handle the predicted increase in mortgage lending over the next two years.
10 Most Recession-Proof U.S. Cities
See which cities the Brookings Institute’s Metropolitan Policy Program highlighted for keeping their labor and housing markets stable.
Analysts Question Fannie Mae Plan
A plan announced by Fannie Mae to sue delinquent owners who have the ability to pay is being questioned by industry experts.
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
Please remember to choose Stewart Title of Spokane on your next transaction!