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Today’s Real Estate News 3-16-2011

16 Mar

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

Crisis Adds New Risk to Global Recovery
The Wall Street Journal | March 16, 2011
Mounting worries about Japan’s ability to contain and recover quickly from a nuclear disaster jolted the world’s financial markets and economy Tuesday, underscoring a sharp shift in recent weeks in the risks facing the global recovery.

Probe into Robo-Signing Scandal Finds ‘No Wrongful Foreclosures
DSNews | March 15, 2011
After the robo-signing scandal that rocked the mortgage servicing world late last year, servicers maintained that even if they had not followed proper procedure when foreclosing on homes, all of the foreclosed properties had mortgages that were seriously delinquent.

Top Housing Official to Take Lobbying Job
The Wall Street Journal | March 16, 2011
David H. Stevens, who last week said he would step down as commissioner of the Federal Housing Administration, will be named the next chief executive of the Mortgage Bankers Association.

Fed Sees Gains, Keeps Eye on Inflation
The Wall Street Journal | March 16, 2011
The Fed kept its easy-money policies intact as markets reeled from a series of global shocks, but it also offered reassuring words about the economic outlook and signaled vigilance on inflation.

Fewer CMBS Loans Make Scheduled Balloon Payments in February
HousingWire | March 15, 2011
Trepp, a provider of commercial mortgage-backed securities data, said 38.4% of CMBS loans made their scheduled balloon payments in February, compared to 38.7% a month earlier. Furthermore, delinquencies in the space are also rising.

Fed Sees Signs of Economic Recovery but Weakness in Housing
DSNews | March 15, 2011
The nation’s economic recovery is on “firmer footing” with conditions in the labor market “improving gradually,” the Federal Reserve said in a statement issued Tuesday following its regular monetary policy meeting.

Hidden Workforce Challenges Domestic Economic Recovery
The Washington Post | March 15, 2011
Overshadowing the nation’s economic recovery is not only the number of Americans who have lost their jobs, but also those who have stopped looking for new ones.

From the National Association of Realtors®:

More Banks Pay to Fix Up Foreclosures for Resale
Banks are no longer just putting up a for-sale sign on foreclosed homes. Some banks are spending thousands of dollars to spruce up the properties to help spur sales.

Nevada Posts Record Number of Vacant Homes
One in every seven houses in Nevada stands vacant, according to newly released U.S. Census data.

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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