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Today’s Real Estate News 5-3-2011

03 May

When we lived in Corvallis, OR, lots of folks would buy rentals in town as an investment while their kids were going to OSU.  In Spokane we have three well-known colleges to draw investors in.  Have you seen an uptick in college parent/investors coming to your market?  Let me know on Facebbok at http://on.fb.me/h13cWz

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

Mortgage With 0% Down? Ask NASA
The Wall Street Journal | April 30, 2011
No-money-down mortgages are coming back, but it may take a rocket scientist to get one.

Banks Ease Lending Terms and Demand for Loans Rise, Fed say
The Washington Post | May 3, 2011
Banks eased lending terms in the first quarter as they forecast improvement in the U.S. economy and companies sought more loans, according to a Federal Reserve survey.

Banks Are Lending, but Pace Falls Shy
The Wall Street Journal | May 3, 2011
The willingness of banks to lend money to consumers rose more than it has in 17 years, but sluggish loan growth is weighing on a key measure of profitability.

Cash-flush Investors Still Cautious about RMBS
HousingWire | May 2, 2011
Despite plenty of cash on hand, investors remain tepid about the secondary residential mortgage market, according to a panel of experts at the Mortgage Bankers Association conference in New York.

Debt-ceiling Deadline Now Aug. 2
The Washington Post | May 3, 2011
Treasury Secretary Geithner says emergency measures to avoid a potential default begin Friday.

U.S. Commercial Property Prices May Fall, Apollo’s Azrack Says
Bloomberg | May 3, 2011
U.S. commercial property prices may fall within a year as building owners attempt to refinance $1 trillion in mortgages, according to Joseph Azrack, head of real estate for Apollo Global Management LLC.

From the National Association of Realtors®:

Home Owners to Congress: Leave MID Alone
Congress has debated trimming the mortgage interest deduction as part of ongoing budget talks. But a new opinion poll shows that more than half of home owners say Congress shouldn’t touch this tax incentive.

Pricey Real Estate, Great Schools Don’t Always Mix
Just because a home falls in an upscale area doesn’t necessarily mean the school will be better than in a less expensive area, finds a new study by Forbes.com and GreatSchools.

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
acarollo@stewart.com

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

www.StewartSpokane.com

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