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Today’s Real Estate News 12-27-2010

27 Dec

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

(Anthony’s Note: I know that many times the news we read seems to be contradictory.  The economy is up, the economy is down; you don’t know what to believe.  That seems to be symptomatic of this crazy recovery.  Today’s news is no different, there are actually several articles that seem to contradict one another.  C’est la vie’!)

Home Prices Probably Fell, Baring Weak Link in Accelerating U.S. Recovery
Bloomberg | December 26, 2010
Home prices probably dropped in October, a sign housing will remain a weak link as the U.S. recovery accelerates into the new year, economists said before reports this week. (The economy is down!) 

New Voters May Sway Fed Actions
The New York Times | December 26, 2010
As the Federal Reserve debates whether to scale back, continue or expand its $600 billion effort to nurse the economic recovery, four men will have a newly prominent role in influencing the central bank’s path.

Moody’s Predicts Another Rocky Year for Servicers in 2011
DSNews | December 23, 2010
The 2011 Mortgage Servicers Outlook published mid-December by Moody’s predicts more troubles ahead for servicers regarding irregularities in foreclosure practices and documentation. (The economy is down!) 

Tough Times Breed Financial Cons
The Wall Street Journal | December 27, 2010
Hard times are generating a growing number of financial scams in which victims are tempted to invest money on the false promise of big returns, often from supposed caches of overseas money.

Bull vs. Bear: Will Housing Rebound?
CNN Money | December 27, 2010
It’s a question many Americans want answered: Will the value of my home rise or fall next year? Smart minds fall in both camps – here are both sides of the coin on real estate.  (The economy is up and the economy is down!  This article discusses both sides.)

Modest Pay Increases Expected in Year Ahead
The Wall Street Journal | December 27, 2010
Raises in 2011 are set to be better than last year, but not by much. Companies plan to raise their salary budgets a median of 2.8% in 2011 after giving median 2.4% raises in 2010, according to a survey by management consulting firm Hay Group. (The economy is up!) 

Job Offers Rising as Economy Warms Up
The Wall Street Journal | December 25, 2010
As the economy gradually recovers, some big U.S. companies are cranking up their recruiting and advertising thousands of job openings, ranging from retail clerks and nurses to bank tellers and experts in cloud computing. (The economy is up!) 

Prediction: Mortgage Delinquencies Will Decline in 2011
DSNews | December 23, 2010
The annual consumer credit forecast from U.S. credit bureau TransUnion predicts a 20 percent drop in national mortgage loan delinquencies by the end of 2011. (The economy is up!) 

Tax Package Opens Small Window for Business Sellers
Reuters | December 26, 2010
Small business owners thinking about selling or ceding control of their companies to relatives should be getting their ducks in a row before 2012, cautioned experts, before the extension expires and tax rates likely become less favorable.

From the National Association of Realtors®:

2011’s Strongest and Weakest Markets
Research firm Veros Real Estate Solutions predicts that home prices will go up in 40 percent of U.S. metro areas next year. But many markets, particularly in Florida and Nevada, may not see a rise in values.  (The Tri-Cities, WA area made the up list but then Boise/Nampa and Reno/Sparks made the down list.)

Economists Predict Flat Home Prices
A group of economists say home prices will be held back by lingering unemployment next year. (The economy is down!) 

Economic Growth Exceeds Forecast
Increases in consumer spending and a drop in layoffs suggest that 2011 may be better than expected. (The economy is up!) 

Founder of Foreclosure.com Defaults
A co-founder of the Web site Foreclosure.com has “strategically defaulted” on her California home.

Anthony Carollo 2007 EMAIL  

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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!

www.StewartSpokane.com

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