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Today’s Real Estate News 1-27-2011

27 Jan

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

Falling Home Prices Reveal Limits of Recovery
The Wall Street Journal | January 26, 2011
U.S. home prices declined in November, falling to new lows in a handful of cities and underscoring that the housing sector has yet to join the nation’s broader economic recovery.

Google to Take Down Real Estate Listings
HousingWire | January 26, 2011
Massive search engine, Google , will take down real estate listings from Google Maps on Feb. 10.  Brian McClendon, vice president Google Earth and Maps, broke the story on the company’s LatLong blog Wednesday and said the real estate listing feature is simply not popular enough to justify its existence.

Sales of Apartments in 2010 Jumped 96%
MultiFamily Executive | January 21, 2011
It was the year of the apartment transaction resurgence, and 2010 ended with a bang with $6.1 billion sold in December, making it the most active month for sales since October 2007 (when Denver-based Archstone was taken private), according to New York-based Real Capital Analytics (RCA). Overall, the commercial research group said that sales of significant apartment properties jumped to $33.7 billion in 2010, which was an astounding 96 percent jump over 2009.

Boxer Introduces Bill to Lower Barriers to Refinance
HousingWire | January 26, 2011
U.S. Sen. Barbara Boxer (D-Calif.) introduced a bill into the Senate this week aimed at making refinancing more accessible to homeowners who are current on their mortgage payments.

Foreclosure Flood Spreads Beyond Hardest Hit Markets: RealtyTrac
HousingWire | January 27, 2011
Metro areas with the 10 highest foreclosure rates saw filings decrease in 2010, but for nearly everywhere else activity was on the rise, according to RealtyTrac, which tracked activity in 206 cities across the country.

Fed Faulted for Lax Mortgage Regulation Before Financial Crisis
The Washington Post | January 27, 2011
The Federal Reserve failed to forestall the housing bubble or prevent the abusive lending practices that contributed to it, the Financial Crisis Inquiry Commission said in a report, embracing a lesson that legislators have already tried to correct with new laws.

Subprime Loans by Fannie, Freddie Performed ‘Better’, FCIC Says
BusinessWeek | January 26, 2011
Fannie Mae and Freddie Mac’s portfolio of subprime loans “performed significantly better” than those packaged into mortgage-backed securities by private issuers, the Financial Crisis Inquiry Commission found in a report.

Two Mortgage Servicers Get Aggressive on Principal Writedowns in January
HousingWire | January 27, 2011
Mortgage servicers began aggressively writing down the principal on delinquent nonagency mortgages and even second liens in January, analysts at JPMorgan Chase said in a report Wednesday, yet the amount of foreclosed properties continues to rise.

Banking’s ‘Toxic Cocktail’ is Too Big to Forget: Simon Johnson
Bloomberg | January 26, 2011
As a senator from Delaware in 2009- 10, Ted Kaufman fought long and hard against the systemic dangers posed by large, highly leveraged U.S. banks. When he left the Senate, at the end of the last Congress, there were some who supposed that his arguments would now get less attention at least from mainstream thinking.

From the National Association of Realtors®:

Appraisals Increasingly Becoming ‘Deal Killers’
The seller has accepted the buyer’s offer but then the appraisal comes in lower than the accepted offer. The scenario is now common for real estate professionals.

New Home Sales Surge
The Commerce Department reported that new U.S. single-family home sales in December reached their highest level in eight months and that prices were the highest since April 2008.

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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