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Today’s Real Estate News 5-4-2011

04 May

In your market, is it now cheaper to buy a house than it is to rent the same home?  Let me know what you think on our Facebook page: http://on.fb.me/h13cWz

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

Buying Beats Renting in 80 Percent of U.S. Cities
U.S. News | May 3, 2011
Thanks to falling home prices and rising rents, would-be home buyers have the upper hand this house-hunting season. In nearly 4 out of 5 major U.S. cities, it’s now cheaper to buy a home than to rent. That’s up from 72 percent of cities last quarter, based on the Rent vs. Buy Index released by online real estate resource Trulia.

Recovery Efforts Could Speed Dollar’s Decline
The Washington Post | May 3, 2011
The U.S. government has pulled out all the stops to try to get the economy back on track after the Great Recession: It is running a huge budget deficit, the financial sector has been bailed out, and the Federal Reserve is keeping interest rates ultra-low.

Homebuyers Don’t Know Mortgage Basics: Zillow
HousingWire | May 3, 2011
Most Americans are confident with in their knowledge of the mortgage industry, but a new study found that nearly half don’t know what they’re talking about.

Facebook Is Tops for Small Business
The Wall Street Journal | May 4, 2011
About seven in 10 small-business owners say they “strongly agree” that social media is important to their business, recently released data show. But they prefer to use some social platforms far more than others.

Foreclosures Trapped by a Lack of Lawyers
The Wall Street Journal | May 4, 2011
Moves by banks to ditch law firms snared in the “robo-signing” mess are spreading delays and confusion to borrowers, while angering judges grappling with thousands of foreclosure cases now trapped in limbo.

Shadow Inventory will Keep Housing Recovery at Bay for Three to Four Years
HousingWire | May 3, 2011
A full housing recovery is three to four years off as the nation grapples with a shadow housing inventory of 4.5 million distressed properties, according to Michael Fratantoni, vice president of research and economics for the Mortgage Bankers Association.

Loan Portfolios Shrinking at Regional Banks: FBR
HousingWire | May 3, 2011
Although the banking industry experienced moderate loan growth in the quarter, analysts at FBR Capital Markets aren’t convinced the market is rebounding.

U.S. Sues Deutsche Bank, Alleging Mortgage Fraud
The Washington Post | May 3, 2011
U.S. prosecutors filed a civil suit Tuesday against Deutsche Bank, saying it repeatedly lied to the government and used shoddy lending standards that cost taxpayers hundreds of millions of dollars.

From the National Association of Realtors®:

Buyers Bypass ‘Fixer-Upper,’ Want Move-in Ready
More buyers are looking at “as-is” properties and looking the other way. Instead, they’re showing a preference toward homes that are move-in condition and won’t require a lot of extra work.

Construction Spending On The Rise
U.S. construction spending grew 1.4 percent in March to $768.9 billion — the first gain in four months and the biggest improvement since April 2010.

Did You Know Your iPhone Could Do All of This?
Real estate pros have embraced smartphones, including the iPhone, to keep them connected to their business. Here are a few hidden features on your iPhone that you probably don’t even know about.

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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