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Today’s Real Estate News 6-6-2011

06 Jun

I was genuinely surprised at the number of responses I got on the Facebook question: Should the government help fix residential real estate or should they let the market self-correct?  Take a look at the responses and even take the time to respond or comment yourself.  It’s been great to see so much passion on both sides of this one issue!  If you’ve already responded, thanks for taking the time to share your thoughts!  On Friday I also posted a new one: Do you believe prices in your market are stabilizing?

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

U.S. Tries to Reduce More Homeowners’ Mortgages
Reuters | June 4, 2011
The Obama administration wants to help more struggling Americans stay in their homes by reducing the amount they owe on their troubled mortgages, a top Treasury official said on Saturday.

Fed Exit Should Start ‘Long Before’ Jobs Recovery Is Assured, Plosser Says
Bloomberg | June 6, 2011
Philadelphia Fed President Charles Plosser said an exit from stimulus measures should start “long before” a recovery in the U.S. jobs market is assured.

Dollar Gains Seen Evaporating as Fed Maintains Stimulus While Growth Slows
Bloomberg | June 6, 2011
The dollar’s best monthly performance since November may prove fleeting as a slowing U.S. economy and falling short-term interest rates encourage investors to use the currency to fund investments in higher-yielding assets.

Swing States Still Struggling After Housing Bust Pose Challenge to Obama Reelection
The Washington Post | June 5, 2011
And right now it is tough to find work in Florida, particularly in Flagler County, which in recent history has a near-perfect record of voting for candidates who are victorious in state and presidential elections. Right now, fixing the economy is the central question for voters here.

Efforts to Spare Unemployed from Foreclosure Stall
The Boston Globe | June 5, 2011
The Obama administration’s main program to keep distressed homeowners from falling into foreclosure has been aimed at those who took out subprime loans or other risky mortgages during the heady days of the housing boom. But these days, the primary cause of foreclosures is unemployment.

Disappointing Economic Reports Do Not Point to Double-dip: Barclays
HousingWire | June 2, 2011
Reports about the U.S. economy were generally negative this week, with jobless claims stagnating and the unemployment rate rising. But Barclays Capital assured Friday these signs do not indicate a double-dip back into recession.

HUD to Re-Foreclose on REO Homes in Michigan
DSNews | June 3, 2011
HUD says foreclosures will have to be re-filed on some of its REO homes due to a Michigan court ruling.

Role Reversal: Homeowner Forecloses On Bank Of America Branch
Business Insider | June 5, 2011
Five months ago Bank of America filed foreclosure papers on a Florida couple who didn’t owe anything on their home. Now, those homeowner’s have foreclosed on Bank of America.

From the National Association of Realtors®:

Americans: Home Ownership Still a Great Investment
Despite the reported drop in values, Americans aren’t turned off by home ownership. A recent survey shows a majority hold optimistic views about owning a home, even among those who are underwater on their houses.

Real Estate’s ‘Clearance Sale’?
“We don’t imagine a stampede of buyers, like outside of Macy’s on Black Friday,” says Pete Flint, CEO of Trulia. “We see this more akin to January sales where retailers are trying to get rid of stock before it gets stale.”

On Housing, Don’t Believe the Doom
An analysis from Barclays Capital says non-distressed sales have started to stabilize, and predicts home prices could turn positive soon.

 

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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