Today’s Real Estate News 3-31-2011

31 Mar

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

California Estate Sold for $100 Million
The Wall Street Journal | March 31, 2011
A Russian billionaire investor paid $100 million for a French chateau-style mansion in Silicon Valley, marking the highest known price paid for a single-family home in the U.S.

Buffett Jolted as Aide Quits Berkshire
The Wall Street Journal | March 31, 2011
David Sokol, widely seen as the leading contender to succeed billionaire Warren Buffett at the helm of Berkshire Hathaway, resigned unexpectedly amid surprising revelations about his personal stock trading.

Geithner: Inflexible Currencies are Biggest Monetary Problem
Reuters | March 31, 2011
Tightly controlled exchange rate regimes are the main flaw in the international monetary system and the solution is simple, U.S. Treasury Secretary Timothy Geithner told a G20 meeting on Thursday.

FHA Taps Bob Ryan as Acting Commissioner
The Wall Street Journal | March 30, 2011
Bob Ryan, the chief risk officer of the Federal Housing Administration, will become the agency’s acting commissioner, the agency said on Wednesday.

Treasury Now Sees Profit From Bailouts
The New York Times | March 31, 2011
When it comes to calculating the bill for the government’s bailout of banks, insurers, automakers and the ailing housing market, the numbers have been all over the map.

Shadow Inventory Drops but Supply to Remain High for Extended Period
DSNews | March 30, 2011
The industry’s shadow inventory of repossessed and soon-to-be repossessed homes that aren’t visible as properties for sale has contracted, according to CoreLogic.

Republicans and Democrats Begin Negotiating Possible Budget Agreement
The Washington Post | March 31, 2011
After weeks of arguing, Republicans and Democrats on Capitol Hill began negotiations Wednesday on a possible budget agreement that would slash federal spending by as much as $33 billion and avert a government shutdown.

From the National Association of Realtors®:

NAR Opposes High Down Payment Requirement
Federal regulatory agencies are proposing a 20 percent down payment requirement for the qualified residential mortgage exemption, which NAR says could hold back housing recovery.

Vacation-, Investment-Home Shares Hold Even
According to NAR’s 2011 Investment and Vacation Home Buyers Survey, vacation- and investment-home market shares held steady in 2010 despite tight lending conditions.

7 Great Places to Retire
Forbes releases its top picks for the best places to retire, taking into account such factors as tax burden and cost-of-living. See which cities made the list.

Millennials: ‘The New Lifeblood’ for the Industry
About 51.5 million millennials born between 1979 and 1991 are reaching prime home buying age. Are you ready for them?

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

Please remember to choose Stewart Title of Spokane on your next transaction!


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