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Today’s Real Estate News 4-22-2011

22 Apr

SOUTH SAN FRANCISCO, CA - MAY 04:  A sold sign...

We have two articles today which both point to a “Spring bounce”.  In the Spokane market, inventory is down from 2010 (that’s good!), but sales are also down from 2010.  Are you seeing a Spring bounce in your market or niche?  What about in the commercial market, is there such a thing as a Spring bounce?  Please feel free to post a comment on our Stewart Facebook wall: http://on.fb.me/eJJUMA or on my personal Facebook wall: http://on.fb.me/eNZQQT

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

‘Strategic Defaulters’ Pay Bills on Time and Plan Ahead, Study Finds
The Washington Post | April 22, 2011
‘Strategic defaulters’ defy characteristics of most people whose loans go bad, analysts say.

Quarterly Mortgage Originations Down One-third at Big Four Banks
HousingWire | April 21, 2011
The big four banks originated a combined $186 billion in mortgages during the first quarter, down 33% from the $281 billion home loans written in the previous quarter, according to their financial statements.

Loan Uptick Could Aid Businesses
The Wall Street Journal | April 22, 2011
Small-business lending and the use of existing lines of credit, both slow to rebound after credit markets froze, are showing faint but intelligible signs of recovery, another indicator the credit crisis is on the mend.

No Place Like Home for Banks
The Wall Street Journal | April 22, 2011
Just a few years ago, banks in industrial states made ill-fated bets on piping hot markets in Florida and Nevada in search of growth. Now, they are finding it in their own gritty backyards.

FHA Offers New Energy Efficiency Loan
NASDAQ | April 21, 2011
Homeowners can borrow up to $25,000 for home energy improvements under a new FHA home equity loan program.

After Years of Red Flags, a Conviction
The New York Times | April 21, 2011
Lee B. Farkas, guilty in a $2.9 billion mortgage lending scandal, had this to say about his fraudulent operations: “It happens all the time.”

Multigenerational Housing Is a Real Estate Growth Niche
The New York Times | April 22, 2011
Multigenerational housing is specifically aimed at the booming immigrant population in the Bay Area, and is emerging as one of the few growth niches in a moribund housing market.

New Housing Data Shows A Springtime Bounce Back, Not A Double-Dip
Forbes | April 22, 2011
February housing numbers were as gray, gloomy and cold as the winter month they represented. Existing-home sales were down 9.6% month-over-month and new-home sales registered lows not seen in nearly 50 years. Some of my real estate reporter colleagues at other media outlets were quite fast to assume this data meant a housing double-dip was upon us.

From the National Association of Realtors®:

Has Housing Reached a ‘Recovery Path’?
Spring has sprung, but have the buyers too? “We’re clearly on a recovery path,” Lawrence Yun, NAR’s chief economist, says about the housing market.

4 Best ‘Shrinking’ Cities
Several U.S. cities are losing population, but that doesn’t mean they can’t be a great place to settle down. CNNMoney.com offers a list of the best shrinking cities to live.

Bernanke Pushes for More Fed Openness
In an apparent move toward greater transparency, the Fed chief will end next week’s policy meeting with a question-and-answer session with the press.

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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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