Today’s Real Estate News 7-13-2011

13 Jul

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

Zillow ‘Zestimate’ Shifts, Prompting Howls
Wall Street Journal | July 6, 2011
On June 14th, Bill Trumbo, a 68-year-old retired financial analyst in Phoenix, Ariz., logged onto his bank’s online personal financial management account and found that his house in Phoenix had lost nearly $100,000 in value overnight. 

CFPB to Unleash Bank Examiners on Dodd-Frank Anniversary
HousingWire | July 13, 2011
More than 100 Consumer Financial Protection Bureau staff members are ready to contact the nation’s large banks when the agency’s regulatory authority kicks in next week.

Effort to Refinance Underwater GSE Mortgages Gains Steam
HousingWire | July 12, 2011
A bill from Sen. Barbara Boxer (D-Calif.), which would allow borrowers who are current but underwater on their Fannie Mae or Freddie Mac mortgage to refinance into a lower-rate loan, gained more industry support but also stirred more concern from investors.

Ohio Representative Calls for Temporary Foreclosure Moratorium
DSNews | July 12, 2011
Rep. Marcy Kaptur, D-Ohio, submitted a resolution (H.Res. 344) calling for a temporary foreclosure moratorium to the House Financial Services Committee Friday.

Why the Housing Tax Credit Failed
The Wall Street Journal | July 12, 2011
Today’s Journal takes a look at how the Obama administration is going back to the drawing board on housing.

REITs Prove Profitable in First Half of 2011 | July 12, 2011
Real estate investment trusts (REITs) are proving profitable, outperforming the larger equity markets for the first half of the year, according to data from the National Association of Real Estate Investment Trusts.

12 Mortage Fraud Cases, Over $12M in Losses | July 12, 2011
Twelve defendants appeared in court around the country this week to answer for charges related to mortgage fraud, conspiracy to commit mortgage fraud, and making false information to financial institutions, among others. The estimated combined losses for lenders and families: some $12.4 million.  (There are some great lessons here.  Do you think if the debt doesn’t show on title or on the credit report, then the borrower doesn’t need to disclose it on the loan application?  Think again.  If the loan officer has knowledge, the loan officer can be held responsible! ~Anthony)

Home prices, inventory levels trend up: Altos Research
HousingWire | July 12, 2011
Home prices and inventory levels are trending upward in many U.S. cities tracked by Altos Research, according to the firm’s latest Housing Market Update.

From the National Association of Realtors®:

6 Best Places for Business, Careers
Forbes releases its 13th annual Best Places for Business list, revealing which cities offer the most jobs and lowest costs of doing business. See which cities topped the list.

Gov’t Program Aims to Revive 6 Struggling Cities
The Obama administration and HUD announced a pilot program that will bring federal officials together with local officials to trigger economic growth in some of the nation’s hardest hit cities.


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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