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Today’s Real Estate News 11-24-2010

24 Nov

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

Banks Seek Exemption From Dodd-Frank for Foreign-Exchange Swaps
Bloomberg | November 24, 2010
The biggest Wall Street banks are pushing the U.S. Treasury Department to exclude foreign exchange derivatives from new regulations, a move that would leave a $42 trillion market largely outside of federal oversight.

Fed Lowers Economic Expectations for 2011
The Washington Post | November 24, 2010
Unemployment is set to remain higher for longer than previously thought, according to new projections from the Federal Reserve that would mean more than 10 million Americans remain jobless through the 2012 elections – even as a separate report shows corporate profits reaching their highest levels ever.

FDIC’s List of “Problem” Banks Grows to 860
DSNews | November 23, 2010
The FDIC said Tuesday that it added 31 banks to its so-called “Problem List,” bringing the total number of institutions under the agency’s watchful eye to 860.

Home Sales Fell 2.2% in October
The Wall Street Journal | November 23, 2010
Sales of previously owned homes fell in October amid weak demand and concerns about the foreclosure process, putting sales for 2010 on pace to close at their lowest level in 13 years.

Commercial Real Estate: Price Rise Is a Record
The Wall Street Journal | November 23, 2010
Commercial real-estate prices rose in September, as measured by the Moody’s/REAL All Property Type Aggregate Index, which posted a 4.3% increase.

Delinquent Borrowers Would Rather Rent: Fannie Mae Survey
HousingWire | November 23, 2010
Half of homeowners who are delinquent on their mortgages would rather rent than buy a home, according to Fannie Mae’s third quarter national housing survey.

Freddie Mac Delinquencies Increase for First Time Since February
HousingWire | November 23, 2010
Freddie Mac’s 90-plus day delinquency rate increased for the first time since February, according to the government sponsored enterprise’s monthly summary. The delinquency rate for single-family residences was 3.82% in October, up from 3.8% in September.

Mediation Urged to Limit Foreclosures
ABC News 4 | November 23, 2010
The Department of Justice and HUD are promoting expanded use of third-party mediation as a way to prevent foreclosures, saying the approach has proven effective in states and municipalities where it has been tried.

Two Years of “Shadow Inventory” Looming Over Md.’s Housing Market
November 24, 2010 | The Baltimore Sun
In today’s topsy-turvy housing market, the number of homes that soon could be for sale is just as important to know as the number that actually are.

From the National Association of Realtors®:

Google’s Real Estate Plans
As Google hires more, they plan to increase their corporate headquarters with much buzzed-about corporate housing.

Existing-Home Sales Decline in October
Following two monthly gains, the more recent sales dip may be a sign of things to come, according Lawrence Yun, NAR chief economist.

Market for Commercial Property Increases
Moody’s Investors reports that commercial property prices had big gains in September.

Green Building Shows Innovation
At the Greenbuild Expo, major manufactures debut their plans for more environmentally friendly windows, drywall, and energy generators.

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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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