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Today’s Real Estate News 3-2-2011

02 Mar

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

HSBC Suspends All U.S. Foreclosures
DSNews | March 1, 2011
HSBC Holdings PLC has suspended all foreclosure actions in the United States, according to the company’s annual regulatory filing with the Securities and Exchange Commission (SEC).

Mortgage Applications in U.S. Fell Last Week as Purchases Slid
Bloomberg | March 2, 2011
Mortgage applications in the U.S. fell last week, reflecting declines in purchases and refinancing that signal a lasting housing recovery will take time to develop.

Fed Chief Discusses Exit From Stimulus
The Wall Street Journal | March 2, 2011
Federal Reserve Chairman Ben Bernanke, after spending much of the past six months formulating and then defending a new central-bank effort to stimulate the economy, is turning his eyes toward an eventual exit from the program.

Freddie Mac Mortgage Purchases Down 23% in January
HousingWire | March 1, 2011
Mortgage purchases and issuances at Freddie Mac fell to $38.8 billion in January, down from $49.7 billion in December, according to Freddie’s latest monthly loan volume summary.

Budget Agreement is Just a Band-Aid
The Washington Post | March 2, 2011
The House took the first step Tuesday toward averting a government shutdown, passing a two-week bill to fund the government past Friday. But even with the Senate expected to follow suit this week, Congress is merely kicking the can down the road, and the real budget fight still looms in the immediate future.

From the National Association of Realtors®:

More Americans Confident About Home Ownership
Americans, especially younger adults, are more optimistic about the stability of housing prices and about home ownership in general, finds a Fannie Mae national housing survey.

NAR Bus Tour to Spark Home Ownership Dialog
Month-long bus tour, which kicks off in Chicago this week, will give consumers a chance to discuss home ownership with real estate practitioners and local government officials.

Stubborn Sellers Stand Firm on Price
Some sellers are refusing to lower the price even if it means their house sits on the market. Housing experts say such lingering properties are causing the real estate market to rebound slower in some communities.

Celebrities Face Foreclosure Too
Fame doesn’t inoculate you against foreclosure. A quarter of all home sales involve a foreclosure, and celebrity homes are among them.

 

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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!

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