Today’s Real Estate News 6-30-2010

30 Jun

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

House Moves to Extend Tax Credit Closing Deadline
DS News | June 29, 2010
The U.S. House of Representatives passed a bill Tuesday that would give homebuyers who are eligible for a federal tax credit three extra months to close on their loans.

Banks Return to Commercial Mortgage Bonds
The New York Times | June 30, 2010
Once dominant, and then dormant, commercial real estate loans are beginning to show signs of life on the trading floor after a two-year slump, Jotham Sederstrom reports in The New York Times.

Beijing’s ICBC to Enter U.S. real Estate Loan Market: WSJ
MarketWatch | June 30, 2010
Industrial & Commercial Bank of China is planning to enter the U.S. commercial real estate lending market, offering loans of more than $100 million to commercial clients, according to a published report Wednesday.

U.S. MBA Mortgage Applications Index Increased 8.8% Last Week
BusinessWeek | June 30, 2010
Mortgage applications in the U.S. rose to an eight-month high as a drop in mortgage rates propelled gains in refinancing requests.

Foreclosures Accounted for 31% of Q1 Home Sales: RealtyTrac
DS News | June 30, 2010
RealtyTrac released a new industry report Thursday, which shows that homes already foreclosed or somewhere in the process accounted for 31 percent of all residential sales in the first quarter of 2010.

Stabilizing U.S. Debt is the Greater of Two G-20 Challenges
The Washington Post | June 29, 2010
An international push to cut deficits in half by 2013 may sound impressive, but the United States already is on track to meet that target without significant policy changes. The harder task for President Obama will be achieving a second goal adopted by the nation’s largest economies over the weekend: stabilizing the soaring U.S. debt.

From the National Association of Realtors®:

Renting Can Be a Good Option for Sellers
If home owners have been unsuccessful for more than a year at selling their property, they may want to consider renting it out.

Prices Rise as Consumer Confidence Declines
A survey by the analysts at Bloomberg reveals that home values are gaining, but buyers are still concerned about purchasing now.

Ratio of Debt-to-Value Influences Walk-Aways
A report by the Federal Reserve Board reveals that home owners are likely to default on their mortgage if the equity of their home falls below 50 percent.

Strip Mall Developers Try Different Tenant Mixes
Health clubs, children’s play areas, theaters, and medical offices are popping up in retail centers.

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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

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