Today’s Real Estate News 4-26-2011

26 Apr

Are you seeing the rental market in your area tighten up?  Are good rentals more difficult to find and are prices/rents increasing?  I’d like to hear from you at the Stewart Spokane Facebook page below.  (:-)

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

Commercial, Multifamily Originations Spike 44% in 2010: MBA
HousingWire | April 25, 2011
Commercial and multifamily originations for 2010 spiked 44% from the year before, the Mortgage Bankers Association said Monday.

Housing Market Fears Trump Ideology
The Washington Post | April 26, 2011
Shutting down Fannie Mae and Freddie Mac should fit seamlessly into the Republican drive to shrink government. After all, keeping the ailing mortgage giants afloat has cost taxpayers $150 billion and many in both parties want private lenders to finance a bigger share of the nation’s $11.3 trillion residential mortgage market.

Home Prices in U.S. Probably Dropped, Consumer Confidence Rose
Bloomberg | April 26, 2011
Residential real estate prices probably dropped in February by the most in more than a year, a sign the housing market is struggling to stabilize, economists said before a report today.

Industry Data Points to Record-High Level of Short Sales
DS News | April 26, 2011
An industry study released Monday shows that nearly half of home sales activity last month involved distressed properties, a trend that is likely to continue as the backlog of foreclosures and mortgage defaults make their way through the pipeline.

New-home Sales Up 11 percent in March
The Washington Post | April 25, 2011
More people bought new homes in March, giving the battered industry a small lift after the worst winter for sales in almost a half-century.

Homeownership Still Considered Best Long-term Investment: Pew
HousingWire | April 25, 2011
The housing crash seems to have had little impact on consumer confidence, as 81% of adults believe buying a home is the best long-term investment a person can make.

Affordable Rental Housing Scarce in U.S., Study Finds
The Washington Post | April 26, 2011
The share of renters who spend more than half their income on housing is at its highest level in half a century and it’s no longer just low-income tenants who are feeling the pain, according to a Harvard University study scheduled for release Tuesday.

Hey, Malls Here! Get Your Used Malls Here!
The Wall Street Journal | April 26, 2011
It is spring selling season for U.S. mall landlords, with property giants Westfield Group, Simon Property Group and General Growth Properties marketing 40 malls across the country.

Loan Middlemen Become a Big Draw
The Wall Street Journal | April 26, 2011
With tens of billions of dollars in underwater commercial real-estate loans coming due by the end of next year, some savvy investors are trying to get to the head of the line in the race to snap up distressed properties.

From the National Association of Realtors®:

Analysts Say Housing Is on the Way Up
Financial observers report that recent numbers suggest residential real estate has been improving and will likely continue to do so.

Sellers Offer Up Lavish Incentives to Buy
Buy a house, get a free new car? Sellers are trying fancy, expensive incentives to lure buyers to homes.

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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