Today’s Real Estate News 4-4-2011

04 Apr

Many of you emailed me and others posted comments on my blog from Friday’s news to tell me your thoughts on this question:  If there were ONE thing you could change about our current real estate environment/economy, what would it be?

If you’d like to go look at the posted responses, or offer your own thoughts, the blog is here:   Thanks to all those that responded!  The highest number of responses told me job creation was the one issue they would change if they could.

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

Extra Interest Charged to Pay Off FHA Loans Early Comes Under Fire
Los Angeles Times | April 3, 2011
Could the federal government’s booming FHA mortgage program be forcing homeowners to pay tens of millions of dollars of extra interest charges when they sell their houses or refinance their loans?

Fed Exit Means No Pain for Obama as Foreigners Take Up Slack
The Washington Post | April 4, 2011
Treasuries are signaling that the $9 trillion market will weather the end of the Federal Reserve’s quantitative easing program in June without suffering a selloff that drives long-term borrowing cost higher.

Subprime Bonds Are Back
The Wall Street Journal | April 1, 2011
Subprime and other residential mortgage bonds that helped trigger the financial crisis are back in vogue with long-term investors, in the latest sign that American credit markets are healing after the worst downturn in a generation.

GOP Aim: Cut $4 Trillion
The Wall Street Journal | April 4, 2011
Republicans will present this week a 2012 budget proposal that would cut more than $4 trillion from federal spending projected over the next decade and transform the Medicare health program for the elderly, a move that will dramatically reshape the budget debate in Washington.

New Jobs Might Not Signify Housing Market Recovery
HousingWire | April 4, 2011
Although the slight increase of nationwide jobs in 2010 may have some believing there is light at the end of the tunnel, the president of Local Market Monitor said this might not directly indicate an end to the real estate market recession.

More Customers Exposed as Big Data Breach Grows
Reuters | April 4, 2011
The names and e-mails of customers of Citigroup Inc and other large U.S. companies, as well as College Board students, were exposed in a massive and growing data breach after a computer hacker penetrated online marketer Epsilon.

Taylor Bean Ties to Freddie Mac Loom in Mortgage-Fraud Trial
Bloomberg | April 4, 2011
Lee Farkas, the former chairman of Taylor, Bean & Whitaker Mortgage Corp., heads to trial today as the accused mastermind of a $1.9 billion fraud conspiracy. Looming in the background will be the company’s relationship with the bailed-out federal mortgage financier, Freddie Mac.

From the National Association of Realtors®:

Bargain-Seeking Home Buyers on the Hunt
The spring selling season is heating up as investors make more cash buys, foreign buyers increase, and other buyers look to snag a good deal.

Home Owners See Big Value in Remodeling
Nearly 40 percent of home owners say that a major home improvement is the best long-term investment you can make, according to new research by Mintel.

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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