Today’s Real Estate News 12-8-2010

08 Dec

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

Courtesy of CNNMoney, we can see that Spokane is expected to see a median home price increase from Q1 2010 to Q1 2011 of .3%, and by Q2 2012 we’re supposed to be up another 5.1%.  Check out your city or market here.

Mortgage Applications in U.S. Fall as Refinancing Declines
Bloomberg | December 8, 2010
The number of mortgage applications in the U.S. fell last week as higher lending rates led to a fourth straight decline in refinancing.

U.S. Mortgage Delinquency Rate Could Fall to 5% in ’11
The Wall Street Journal | December 8, 2010
The percentage of U.S. consumers who are delinquent on their mortgages could fall to about 5% by the end of 2011, from an expected 6.2% at the end of this year, according to a leading credit bureau. But it would still be well above historical levels.  (Anthony’s Note: The rate increases combined with the holidays and the snow we’ve had in Spokane are shaping up to make a tough December.  However, perhaps that will create pent-up demand for 2011!)

A Hint of Good Job Market News
The Wall Street Journal | December 7, 2010
Last Friday’s jobs report was disappointing, but a new data released today suggest that all hope is not lost. American job openings increased to 3.4 million in October from 3 million in September, according to the Labor Department’s Job Openings and Labor Turnover Survey.

‘Special Servicers’ Getting Creative
The Wall Street Journal | December 8, 2010
New Trails Blazed as the Pace of Resolving Distressed Mortgages Is Picking Up

Consumers Don’t Expect Housing Recovery Until 2013, Experts Agree
DSNews | December 8, 2010
Americans continue to grapple with uncertainty about the housing market, with 58 percent of U.S. adults expecting recovery to be at least another two years away, according to the results of a new survey conducted by Trulia and RealtyTrac, which tracks homebuyers’ attitudes toward foreclosed homes.

Fitch Predicts a Plain Vanilla Structured Finance Future
HousingWire | December 8, 2010
Simpler structures with increased credit and loan quality will be the norm for structured finance transaction next year, according to Fitch Ratings.

Industry Completes over 1.5M Loan Mods in First 10 Months of 2010
DSNews | December 7, 2010
New data from HOPE NOW shows that the industry completed more than 1.5 million loan modifications for at-risk homeowners from January through October of this year.

Package Would Give Obama Stealthy Stimulus
The Wall Street Journal | December 8, 2010
The tax package heading to Congress could give a noticeable boost to the economy next year, economists said, giving the Obama administration a second, stealth stimulus package without antagonizing lawmakers reluctant to spend more to spur growth.

Freddie Mac Plans Monthly Delinquency Disclosures on Home Loans
HousingWire | December 7, 2010
Freddie Mac, the government-supported mortgage company, said that it plans to begin providing monthly disclosures on the amount of delinquencies among individual pools of home loans within bonds it guarantees.

American Homebuyers Suffer from a Crisis of Faith: Survey
HousingWire | December 8, 2010
A housing conference call organized by real estate listing websites, Trulia and RealtyTrac, revealed 48% of potential homebuyers in America have lost faith in the ability of the mortgage industry and 24% percent lost faith in the ability of the government to manage said market.

From the National Association of Realtors®:

10 Best Places for Military Families to Retire ranks the best cities for service members to live after duty.


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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

Please remember to choose Stewart Title of Spokane on your next transaction!





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