Today’s Real Estate News 5-24-2011

24 May

What do you think is the single best reason a consumer would choose to buy a house right now? 

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

April New Home Sales Rose 7.3%
HousingWire | May 24, 2011
Sales of new single-family homes rose 7.3% in April from a month earlier, easily topping most analyst estimates.  The Commerce Department said the seasonally adjusted rate of 323,000 units last month was up from 301,000 for March, which was revised upward slightly. April new home sales were down 23.1% from 420,000 a year earlier.  (By comparison, in the Spokane MLS we had 42 new home sales in April compared to March when we had 29.  That’s about a 44% increase! ~Anthony)

Mortgage Defaults do not Predict Poor Credit Behavior: TransUnion
HousingWire | May 24, 2011
Troubled borrowers who default on their mortgages are less likely to develop long-term poor credit behavior, when compared to those who default on other kinds of loans, according to a new study from TransUnion.

Will Banks be Held Accountable for Fraud and Misbehavior?
The Chicago Sun-Times | May 23, 2011
It isn’t clear what is worse: the housing crisis that keeps deepening or the reports of pervasive banking fraud that keep getting exposed.

CMBS Issuance to Top $40 billion in 2011
HousingWire | May 24, 2011
Commercial mortgage-backed securities are gaining steam with $9 billion issued in the first four months of the year and $40 billion expected by the end of 2011, according to Jones Lang LaSalle.

From the National Association of Realtors®:

Will REOs Hamper a Housing Recovery?
The glut of foreclosures across the country has sparked banks to take ownership of more than 872,000 homes. How will this affect a real estate recovery?

10 Most Searched Real Estate Markets
Which real estate markets were most searched for on the Web last month? See if your market made the list.

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!



3 responses to “Today’s Real Estate News 5-24-2011

  1. Susan Ashe

    May 24, 2011 at 10:11 am

    Anthony, are there still good deals for first-time home buyers in our local market? What are banks/credit unions providing, if anything, in terms of incentives? Thanks.

    • avcarollospok

      May 26, 2011 at 5:24 pm

      It is a great time to buy a home in Spokane! Rates are low and so are prices which makes the homes affordable. That said, i’m not sure I can answer your question about what banks and credit unions are doing in terms of incentives.


  2. Greg Britton

    May 24, 2011 at 3:29 pm

    To answer your question regarding single best reason to buy, I’ll tell you about a meeting withba first time buyer I had last night. He was looking to buy the home he was currently renting. He was convinced his rent was a bargain at $700. His total payment if he purchased with FHA was $525.


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