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Today’s Real Estate News 1-28-2011

28 Jan

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

For those of you in our beautiful state of Washington, the Department of Revenue is seeking business input on tax simplification in this online survey.
From the State’s press release “ Revenue Director Suzan DelBene said the goal is to lay a strong foundation for the private sector to grow and create family-wage jobs.”

Report Details Wall Street Crisis
The Wall Street Journal | January 28, 2011
Twelve of the 13 largest U.S. financial institutions “were at risk of failure” at the depth of the 2008 financial crisis, while at least 50 hedge funds tried to capitalize on it, according to a report released Thursday by a U.S. panel investigating how the financial system unraveled.

Commercial Mortgage-Backed Securities to Rebound in 2011
HousingWire | January 27, 2011
This year is positioned to be a stronger year for commercial mortgage-backed securities, as industry analysts say the sector hit bottom in 2010. Although, the market still remains far short of its highest point.

National Association of Mortgage Brokers asks Fed for Reg Z delay
HousingWire | January 27, 2011
The National Association of Mortgage Brokers sent a letter to the Federal Reserve asking for a 12-month delay in enforcing changes to Regulation Z and for further clarification to loan originator compensation.

Pending Sales of Existing Homes Rise 2%: NAR
DSNews | January 27, 2011
The number of contracts signed for purchases of previously owned homes rose again in December, according to data released by the National Association of Realtors (NAR) Thursday.

Fannie, Freddie Got $20.9 Billion From Loan Buybacks, FCIC Says
Bloomberg | January 27, 2011
Fannie Mae and Freddie Mac have received about two-thirds of the $34.8 billion they’ve demanded from lenders for mortgages that failed to meet quality standards, the Financial Crisis Inquiry Commission reported.

Rate on 30-year Fixed Mortgage Rises to 4.80 Pct.
BusinessWeek | January 27, 2011
The average rate on the 30-year fixed mortgage rose slightly this week, following increases in bond yields.

Consumer Spending Seen Helping Quarterly Growth
Reuters | January 28, 2011
The U.S. economy probably gathered speed in the fourth quarter, with the biggest gain in consumer spending in four years offering the clearest signal yet that a sustainable recovery is under way.

From the National Association of Realtors®:

Foreclosures Jump in Unexpected Cities
Cities that were not severely affected by the initial foreclosure crisis now are reporting some of the highest jumps in foreclosure rates in the country.

Global Survey: U.S. Homes Are Most Affordable
Real estate in the United States is a good deal: Homes in the Untied States are the cheapest relative to incomes among English-speaking nations. So which country is the most expensive then?

GOP Blames Housing Bubble on Financial Crisis
Following the release of a mostly Democratic congressional panel report detailing the reasons behind the financial crisis, the Republicans will release their own minority report, citing the housing bubble as one key factor.

Distressed Properties Spur Remodeling Rebound
A rebound is looming for the remodeling industry, but the traditional market for home improvement isn’t expected to generate the uptick, a new report shows.

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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