National Geographic’s “Photo of the Day” is of our very own downtown Spokane! Check out the picture here http://on.natgeo.com/kuYglV
Today’s news that may be of interest to you:
The Markets Most Coveted by International Buyers
The Wall Street Journal | June 15, 2011
Internation home buyers are taking a shine to the Sunshine State. After analyzing online searches by international users, the real-estate search engine Trulia.com found that Florida cities rank among their preferred U.S. destinations.
CoreLogic Analyzes Negative Equity and Default Trends
DSNews | June 15, 2011
Underwater borrowers have become a focus of numerous industry surveys and analysis, and a growing concern for market participants due to the potential of negative equity to trigger default.
U.S. Homeowners Gain Equity With 15-Year Loans
Bloomberg | June 16, 2011
While millions of U.S. homeowners have negotiated lower monthly mortgage bills in an effort to avoid foreclosure, Cecelia Kirchman hapilly added $250 to her payment when she refinanced last August.
More Homes Listed and Lingering, Data Show
The Wall Street Journal | June 16, 2011
More homes hit the market in May but asking prices dropped, providing further evidence of a disappointing run for the spring sales season.
From the National Association of Realtors®:
Priciest U.S. Listing Reportedly in Escrow
Candy Spelling, the widow of a famous TV producer, stood firm for two years on the $150 million price tag for her 4.7 -acre estate. Her wait may have finally paid off as the country’s highest-priced home reportedly now is in escrow.
REO Auctions Should See Uptick Soon
Because of regulatory and political pressure, banks may turn to auctions to clear REOs out of their portfolios.
Foreclosures Facing More Court Challenges
The industry is keeping a close eye on court rulings involving the Mortgage Electronic Registration Systems, which could throw the validity of thousands of foreclosures into question.
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
Please remember to choose Stewart Title of Spokane on your next transaction!