Today’s Real Estate News 6-9-2011

09 Jun

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

Fannie, Freddie may never pay back the government
HousingWire | June 8, 2011
The Treasury Department paid $164.4 billion to Fannie Mae and Freddie Mac since placing them into conservatorship in September 2008, but that money may never be paid back.

Federal Proposal Would Toughen Debt Restrictions on Mortgages
The Washington Post | June 9, 2011
Applicants with high debt-to-income ratio are less likely to get favorable rates under new federal proposal.

Where Real Estate Listings Fail
The Wall Street Journal | June 9, 2011
As buyers wade back into the market, there’s plenty of information to be found online. And that may be more trouble than it’s worth.

Clear Capital: Stability Ahead as Distressed Property Prices Rise
DSNews | June 8, 2011
The real estate valuation firm Clear Capital sees signs of market stability as we move into the summer months.

Economy’s Woes Shift the Focus of Budget Talks
The New York Times | June 9, 2011
Recent signs that the economic recovery is flagging have introduced a new tension into the bipartisan budget negotiations, giving rise to calls especially from liberals to limit the size of immediate spending cuts or even to provide an additional fiscal stimulus.

Fed’s Beige Book Shows Home Sales, Prices Remain Muted
HousingWire | June 8, 2011
Residential real estate sales and home prices remain mired in a downward spiral, as rental markets are strengthening, according to the Federal Reserve.

Michigan County Approves Funding to Help Homeowners fight MERS, DocX Cases
HousingWire | June 8, 2011
The Ingham County Board of Commissioners in Michigan approved up to $60,000 in Legal Aid funding to represent borrowers affected by allegedly improper foreclosures and possible documentation fraud.

Lawmakers Ask HUD for Records on Affordable-Housing Projects
The Washington Post | June 8, 2011
Two key federal lawmakers are calling for a detailed accounting of more than 1,000 affordable-housing construction projects funded by the Department of Housing and Urban Development amid concerns about delayed and defunct development deals nationwide.

Home Builders’ Economist Lowers 2011 Housing Market Forecast
The Wall Street Journal | June 8, 2011
With the housing market faring poorly, the top economist at the National Association of Home Builders lowered his forecast for home construction this year.

California Foreclosure Prevention Program Gets Support of 20 Servicers
DSNews | June 8, 2011
The California Housing Finance Agency said Wednesday that 20 mortgage servicing companies are now participating in the state’s Keep Your Home California program to assist families struggling to remain in their homes and avoid foreclosure.

From the National Association of Realtors®:

Housing Shortage Is Likely Coming, Report Says
Within the next decade, 16 million new housing units will be needed to meet projected population growth and shifting demands, a new report says.

NAR Backs Comprehensive GSE Reform
Congressional bill protects the 30-year mortgage, shields taxpayers from unnecessary bailouts, and ensures the availability of mortgage capital.

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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