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Today’s Real Estate News 7-19-2011

19 Jul

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

Study: Tax Credit Had ‘Fleeting’ Effect on Housing Markets
The Wall Street Journal | July 18, 2011
Critics of last year’s $8,000 tax credits for home purchases routinely argued that the credits were unlikely to do more than offer sellers the chance to boost their sale price by the amount of the tax credit.  (I would be surprised if anyone can point to a situation where the seller actually raised the price because the buyer was getting the tax credit.  {That’s not to say the TC hasn’t been fraudulently used in a variety of situations.}  Certainly the benefits of bringing 2-4 years worth of first time homebuyers forward into 2009-2010 were short-lived. ~Anthony)

Obama Administration Not Planning Another Big Housing Program
The Washington Post | July 18, 2011
The Obama administration has no plans to introduce another large-scale program for relieving the troubled housing market, despite the president’s recent admission that his past efforts have not solved the problem, according to a senior administration official.

Homebuilder Confidence in U.S. Rises More Than Estimated,
Bloomberg | July 19, 2011
Confidence among U.S. homebuilders improved in July from a nine-month low as executives turned less pessimistic on the outlook for sales.

U.S. Housing Starts Probably Rose in June as Industry Struggled to Rebound
Bloomberg | July 19, 2011
Housing starts in the U.S. probably rose in June for a second month as the industry struggled to recover in the face of foreclosures and rising unemployment, economists said before a report today.

Freddie Mac Says Housing Sector Unlikely to See Double Dip
HousingWire | July 18, 2011
Despite uncertainty about the debt ceiling and an unemployment rate that remains stubbornly higher than 9%, Freddie Mac said the housing market is unlikely to experience a double dip.

Trepp Report: Commercial Real Estate Pay-Offs Rebound
TheMReport.com | July 18, 2011
On the heels of two consecutive months where the percentage of commercial realpay-offs fell, June is seeing a jump in the percentage of loans paying off on their balloon date, according to the Trepp June Pay-Off Report.

JPMorgan Chase overhauls troubled mortgage unit
MSNBC | July 18, 2011
JPMorgan Chase & Co is putting on a kinder, gentler face as it overhauls a unit that negotiates with borrowers whose homes are headed into foreclosure.

From the National Association of Realtors®:

Bill Calls for Extending Jumbo Loan Limits
A bill has been proposed to extend the conforming loan limits for Fannie and Freddie by another two years in order to sustain a recovery in residential real estate.

Are Couples Staying Together for the House?
A new study from the American Economic Review shows a correlation between declining home values and falling divorce rates.

 

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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