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Today’s Real Estate News 7-27-2011

27 Jul

Some real mixed news today, things are up, things are down.  The first article makes you think:  Is the state of California being wise in making an effort to make sure they pay their bills, or are they being foolish by borrowing more money?  Let us know what you think by commenting on my blog!

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

California takes out $5.4B bridge loan ahead of federal debt crisis
Sacramento Business Journal | July 26, 2011
The state of California secured a $5.4 billion bridge loan today to help the state cope should the federal government fail to raise the debt ceiling by next Tuesday.

CoreLogic: Nondistressed Home Prices Stabilizing
HousingWire | July 26, 2011
Stabilizing nondistressed home prices, a declining shadow inventory and stronger foreclosure auctions should lead to lower distressed sales and less downward pressure on prices, according to CoreLogic.

U.S. Home Price Rise Fails to Lift Housing Gloom
Reuters | July 26, 2011
Prices for new U.S. single family homes rose to a five-month high in June even as sales slipped, but recovery for the broader housing market continues to be frustrated by an oversupply of properties.

U.S. June New-Home Sales Fall More Than Estimated to 312,000 Annual Pace
Bloomberg | July 27, 2011
Sales of new U.S. homes unexpectedly fell for a second month and a gauge of property values also dropped, showing the industry that sparked the recession is stagnating.

BofA Donates Then Demolishes Houses to Cut Glut
Bloomberg | July 26, 2011
Bank of America Corp., faced with a glut of foreclosed and abandoned houses it can’t sell, has a new tool to get rid of the most decrepit ones: a bulldozer.

Housing Market Remains Weak, Data Show
The Washington Post | July 26, 2011
The housing market remains weak, according to new data released Tuesday, indicating that home sales and prices are struggling to recover this year.

Case-Shiller Levels Hopes for Price Rebound
The MReport.com | July 26, 2011
A Standard & Poor’s/Case-Shiller Home Price Index released Tuesday revealed slight bumps in home prices across composites collected for some 20 cities, with the nation’s Capitol leading the way with an upward arc, even as existing-home sales flat-lined in June and single-family starts showed nominal signs of life.

From the National Association of Realtors®:

New-Home Market Shows Signs of Stabilizing
New-home sales dropped in June, but a sharp increase in prices and declining inventories may be signs the sluggish new-home market is finally showing signs of rebounding, the Commerce Department reports.

New Grant for Military First-Time Home Buyers
Spread the word to your customers: You can help active-duty military personnel or vets get financial aid to help purchase their first home through a new national program.
 

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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