Today’s Real Estate News 4-13-2011

13 Apr

Today’s question: Both the Dems and the GOP have talked up the huge budget cuts they made in passing the budget bill last week.  In your opinion, did they do enough?

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

Mortgage Industry Workforce Plummets 51% Since 2006
HousingWire | April 12, 2011
The number of employees in the mortgage industry declined 51% between February 2006 and February 2011, which equates to a loss of 257,000 jobs. 

Piece of the Empire State Building Could Be Yours
The New York Times | April 13, 2011
People who have always wondered what it might be like to dabble in a little New York real estate may soon be able to dabble in a lot of it – by buying a piece of its most famous skyscraper, the Empire State Building.

Budget Deal Holds Pain for Housing
The Wall Street Journal | April 13, 2011
Housing programs targeting everyone from veterans to Native Americans will take a hit under some of the largest spending reductions in U.S. history.  (Both sides of the aisle have touted the historic cuts they made, but the reality is this is one of the top two largest budgets ever proposed, second only to last year!  My own household budget this year is definitley not in my top two highest.  Here’s a good Wikipedia article on the Federal budget ~Anthony)

FDIC to Replenish Deposit Fund by Year’s End
HousingWire | April 12, 2011
The Federal Deposit Insurance Corp. is halfway to reaching certain goals mandated by the Dodd-Frank Act.

Mortgage REITs on a Tear As High Yields Fuel Demand
The Wall Street Journal | April 13, 2011
A few years ago, real-estate investment trusts that bought and sold residential-mortgage securities were a dying breed. Today, they are one of the hottest REIT sectors in the industry.

Deficit Speech Will Be Lightning Rod
The Wall Street Journal | April 13, 2011
Obama will describe his plans for long-term deficit reduction Wednesday, in a move likely to kick off a months-long debate with Republicans while alienating some members of his own Democratic Party.

From the National Association of Realtors®:

Zillow Acquires Listing Syndication Site Postlets
Zillow has purchased the popular listing syndication site, which helps real estate professionals promote their listings for free to multiple real estate and social media sites.

New Facebook Feature May Result in Big Mistake
Want to turn your Facebook friends into fans? Facebook’s new tool can help you change a personal profile page into a business page, but some who’ve made the switch say they’ve made a big mistake.

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
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Direct Fax: 866.652.8834

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


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