Today’s Real Estate News 1-20-2011

20 Jan

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

Existing-Home Sales Soar to Seven-Month High
DSNews | January 20, 2011
Sales of previously owned homes surged 12.3 percent in December, according to data released by the National Association of Realtors Thursday.

U.S. Housing Starts Fall 4.3% in December from November
Los Angeles Times | January 20, 2011
The month-over-month decline in new-home construction was worse than economists had expected. Housing starts fell 8.2% from December 2009, the Commerce Department reports.

K&L Gates: Fighting MERS Could Lead to Credit Card Rates for Mortgages
HousingWire | January 19, 2011
If local governments succeed in the fight against how banks have recorded the transfer of mortgage notes through the Mortgage Electronic Registration Systems, home loans could become as expensive as credit cards, K&L Gates Partner Laurence Platt said Wednesday.

Sales of Existing U.S. Homes Likely Rose for Second Month
Bloomberg | January 20, 2011
Sales of U.S. previously owned houses probably rose in December for a second month as demand struggled to rebound from a decade low, economists said before a report today.

FDIC’s Bair Warns of Double-Dip if Servicing Problems Aren’t Remedied
DSNews | January 19, 2011
FDIC Chairman Sheila Bair warned mortgage bankers Wednesday that failure to take immediate and decisive action to deal with the foreclosure crisis and breakdowns in servicing procedures will trigger a double-dip in U.S. housing markets and keep the industry deeply mired in a cycle of credit distress.

House Votes to Repeal Health-Care Law
The Washington Post | January 20, 2011
In the first major act of the new Congress, the Republican-led House voted Wednesday to repeal the Democrats’ health-care overhaul, fulfilling a pledge that GOP candidates made during the fall midterm campaigns.

Real Estate: Finally a Good Investment?
The Wall Street Journal | January 18, 2011
Everyone hates residential real estate. That may make it a bargain.
(Anthony’s Note: I don’t like the negative tone of the statement that “everyone hates residential real estate”.  That said, I do think this is generally a good article where the message is that real estate is still a great investment and there are some bargains to be had out there!)

From the National Association of Realtors®:

Owners, Renters Favor Owning a Home
A survey of home owners and renters conducted by NAR and Harris Interactive shows both groups believe that home ownership is a better long-term decision.

Americans Are on the Move, Study Shows
Long-distance moves hit a record low in 2010, but a new study shows more households are packing up and moving again. Find out where they’re moving to.

Global Property Investments on the Rise
Worldwide commercial real investments such as in malls, offices, and industrial properties are expected to rise 20 percent this year, led by a sharp rebound in the United States.

2 Men Charged for Hacking Into 120,000 iPads
Two men are accused of hacking into AT&T computer servers to steal e-mail addresses and personal data of thousands of iPad users.

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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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