Today’s Real Estate News 1-21-2011

21 Jan

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

Size Matters-How Americans are downsizing their homes and what that means for the future of the Inland Northwest
The Pacific Northwest Inlander | January 20, 2011
It’s hard to remember this – mainly because so many homebuyers nowadays weren’t even alive then – but in the 1950s and ’60s, most people thought it was normal to have one bathroom in a house, or to have kids share a bedroom. Remember the Brady Bunch, where all three girls were in a room, and the boys were in another? (And this is considering that the Brady home was quite grand by their contemporary standards. Mr. Brady was an architect, after all.)
(Anthony’s Note: This is a good reflection on the downsizing of America.  It’s written in a local {Spokane} paper, but it could have been written in any city.  My favorite paragraph is the one above.  I remember thinking the Brady kids were rich.  They even had a housekeeper.  Thanks to Michelle Nichols for passing along the article.)

Banks Want Pieces of Fannie-Freddie Pie
The New York Times | January 20, 2011
As the Obama administration prepares a report on the future of Fannie Mae and Freddie Mac, some of the nation’s largest banks are offering a few suggestions.

Fannie Mae Delays Foreclosures 45 Days for Hardest Hit Fund Programs
HousingWire | January 20, 2011
Fannie Mae directed its mortgage servicers to delay scheduled foreclosure sales 45 days for borrowers that have been approved for assistance through the Hardest Hit Fund.

Federal Reserve Leaders Face Encouraging Yet Unnerving Picture Ahead of Meeting
The Washington Post | January 20, 2011
As the Federal Reserve gears up for its first policy meeting of 2011, its leaders face the challenge of making sense of an economic picture that is encouraging – including upbeat reports Thursday on housing and unemployment – yet still unnerving.

U.S. Economy: Home Sales, Leading Index Show Gains
Bloomberg | January 20, 2011
Sales of previously owned U.S. homes and the index of leading indicators exceeded forecasts, signs the expansion is gaining momentum at the start of 2011.

A National Gauge of the Housing Market
St. Louis Post-Dispatch | January 21, 2011
Home prices are dropping in the nation’s largest cities and are expected to keep falling in 2011 as fewer people purchase homes and millions of foreclosures come on to the market. Explore a heat map of the month-to-month percent change in the Standard & Poor’s/Case-Shiller 20-city home price index, including the most recent figures of New Home Sales and Existing Home Sales.

Gains in Private Sector Employment an Encouraging Sign for Industry
DSNews | January 20, 2011
The unemployment rate, while still languishing at a discouraging 9.4 percent, has seen improvement in recent months that is encouraging for many sectors of the industry.

LPS: 6.87 Million Mortgages Delinquent or in Foreclosure
DSNews | January 20, 2011
As of the end of December, 6.87 million mortgages in the United States were delinquent or in the process of foreclosure, according to Lender Processing Services (LPS).

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
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