Today’s Real Estate News 4-19-2011

19 Apr

Americans Shun Cheap Homes

Check out the article below on real estate websites and tell me:  What is the best real estate focused website you’ve used (aside from

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

Bill Would Waive Retirement Plan Withdrawal Penalties to Buy REOs
HousingWire | April 18, 2011
A bill introduced in the U.S. House of Representatives would waive early distribution penalties on certain qualified retirement plans if the funds are used to buy a house that has been in foreclosure for a year or more.

Use of FHA Loans Declines With Tighter Lending Criteria
San Jose Mercury News | April 19, 2011
The share of borrowers using government-insured FHA home loans dropped to its lowest level in more than two years in February, based on a survey of 20 large housing markets nationwide. The trend likely reflects tighter lending criteria for the low down-payment loans, according to a recent report by DataQuick Information Systems.

Americans Shun Cheapest Homes in 40 Years as Owning Loses Appeal
Bloomberg | April 19, 2011
The most affordable real estate in a generation is failing to lure buyers as Americans sour on the idea of home ownership. At the end of 2010, the fourth year of the housing collapse, the share of people who said a home was a safe investment dropped to 64 percent from 70 percent in the first quarter.

Builders Probably Broke Ground on More U.S. Homes in March
Bloomberg | April 19, 2011
A gain in housing starts in March probably failed to make up for ground lost the prior month as U.S. homebuilders continued to struggle almost two years into the economic recovery, economists said before a report today.

Could Debt Worries Accelerate Fannie, Freddie Overhaul?
The Wall Street Journal | April 19, 2011
Most Washington pundits don’t expect any major political action on mortgage giants Fannie Mae and Freddie Mac before the 2012 election, but growing jitters over the nation’s debt illustrate one potential catalyst that could keep the current conservatorship of the firms from dragging on indefinitely.

Home Builders’ Pessimism Deepens
The Boston Globe | April 19, 2011
Builders are more pessimistic about the housing market this month, a dismal sign at the start of the spring buying season.

Zillow Files for IPO, Eyes Raising $51.8 million
BusinessWeek | April 18, 2011
Real estate listing and information service Zillow Inc. has filed documents with securities regulators for an initial public offering.

List: 7 Real Estate Sites Honored by the Webbys
The San Diego Union-Tribune | April 18, 2011
The folks at the Webby Awards – given to the best of the best on the Internet every year – have announced their 2011 picks of what they consider excellent sites in the real estate market.

From the National Association of Realtors®:

Commercial Market Exceeds Forecasts
After a sluggish few years, the commercial market is posting a dramatic recovery, far more quickly than analysts ever expected.

HUD Offers Grants to Remove Home Hazards
The U.S. Department of Housing and Urban Development is offering grants to help eliminate housing-related health hazards from low-income homes.

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Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
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Posted by on April 19, 2011 in Uncategorized


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