Today’s Real Estate News 12-22-2010

22 Dec

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

Sales of U.S. Previously Owned Homes Probably Rose in November
Bloomberg | December 22, 2010
Sales of existing homes probably rose in November as the industry that triggered the worst recession in seven decades struggled to recover, economists said before a report today.

Home Loan Demand Drops, Lowest in Nearly 1 Year
Reuters | December 22, 2010
Mortgage applications tumbled to their lowest level in nearly a year as a six-week-long rise in interest rates took a significant toll on demand, an industry group said on Wednesday.

Commercial Property Prices Up 3.2% from Last Year: Moody’s
DSNews | December 21, 2010
Moody’s Investors Service says its gauge of commercial property prices rose 1.3 percent from September to October, marking the second consecutive monthly increase recorded by the New York-based research firm.

Open Letter to Regulators: Develop National Mortgage Servicing Standards
HousingWire | December 21, 2010
Mortgage finance industry executives are asking regulators to adopt national standards for the securitization of home loans as soon as possible, starting with the disclosure and risk retention rules outlined in Dodd-Frank.

Fannie Mae, Freddie Mac Foreclosures Double Modifications in 3Q
HousingWire | December 21, 2010
Servicers started 339,000 foreclosures on Fannie Mae and Freddie Mac mortgages in the third quarter, more than double the 146,507 modifications completed, according to data from the Federal Housing Finance Agency.

Wells Fargo Making Mortgage Changes in California
The Wall Street Journal | December 21, 2010
Wells Fargo & Co. agreed to make an estimated $2.4 billion in mortgage modifications for California homeowners with “pick-a-payment” adjustable-rate loans, as part of an agreement with the state’s attorney general.

Elizabeth Warren
Newsweek | December 21, 2010
Obama tapped her to set up the new Consumer Financial Protection Bureau. Can she create a more honest market?

In a Sign of Foreclosure Flaws, Suits Claim Break-Ins by Banks
The New York Times | December 22, 2010
When Mimi Ash arrived at her mountain chalet here for a weekend ski trip, she discovered that someone had broken into the home and changed the locks. 

From the National Association of Realtors®:

Research Firm Forecasts Fall in Home Prices
Altos Research predicts the housing market will not recover until unemployment stabilizes, which may not begin before 2012.

Counselors Help Troubled Borrowers
A study by the Urban Institute reveals that home owners who worked with a housing counselor were less likely to re-default.

 Carollo Christmas tree cutting

Carollo Family cutting the tree  

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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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