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Today’s Real Estate News 12-30-2010

30 Dec

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

Foreclosures Jump 31% in Third Quarter: OCC
HousingWire | December 30, 2010
Large banks and thrifts foreclosed on 382,000 homes in the third quarter, a 31.2% spike from the previous quarter, according to the Office of the Comptroller of the Currency.

Jobless Claims in U.S. Decreased More Than Estimated to 388,000 Last Week
Bloomberg | December 30, 2010
Initial U.S. jobless claims fell last week to the lowest level since July 2008, a sign that the labor market is improving heading into 2011.

Housing Price Declines Increase Strategic Default Risk
HousingWire | December 29, 2010
Home prices are expected to drop another 20% before hitting bottom, according to economists at A. Gary Shilling & Co., raising the risk that 40% of borrowers will walk away from their home in a strategic default.

John Hancock Tower Sells for $930 Million
The New York Times | December 30, 2010
The John Hancock Tower, a 62-story glass skyscraper in Boston’s Back Bay, was one of the first real estate trophies to run into trouble when the speculative property boom abruptly ended two years ago.

House Appraisals Under Fire
The Wall Street Journal | December 30, 2010
Home appraisals, which were blamed for being too generous during the housing boom, are now being criticized by some homeowners for being too stingy, preventing them from refinancing or borrowing against their houses.

Texas Bills Limit HOAs Power to Foreclose for Late Dues
HousingWire | December 30, 2010
Homeowners associations could see their power to foreclose on families for failure to pay dues limited under several bills filed in the upcoming session of the Texas Legislature.

From the National Association of Realtors®:

Officials Search for Fannie-Freddie Road Map
Top Obama administration officials are debating the future role of Fannie Mae and Freddie Mac, and whether the government should provide a guarantee for new mortgages when the market stabilizes.

Smarter Marketing Means More Money in 2011
Inman columnist Bernice Ross offers several suggestions for trimming money-wasters from your business and being more effective with your time.

Housing Starts Predicted to Hit 3-Year High
Job growth, an increasing U.S. population, and low interest rates could drive the construction of more homes in 2011, industry experts say.

HGTV Looking for Makeover Candidates
Starting this summer, a new HGTV show will be traveling across America in an 18-wheeler to fulfill ultimate home makeovers. Interested in taking part?

Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. Anthony Carollo 2007 EMAIL  

Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. Join My List

Find me on:   Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. LinkedIn   Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet.

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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