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Monthly Archives: August 2011

Today’s News 8-31-2011


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

Will Refinancing Stimulate the Economy?
The Wall Street Journal | August 30, 2011
It sounds like an easy way to stimulate the economy: The government, working through mortgage finance companies Fannie Mae and Freddie Mac, could refinance millions of American homeowners’ loans at today’s rock-bottom interest rates and put more money in Americans’ pockets at a time when the economy is staggering.

LPS Puts Average Delinquency+Foreclosure Timeline at 599 Days
DSNews | August 30, 2011
The average mortgage loan in foreclosure has been delinquent for 599 days, according to Lender Processing Services (LPS). (Check out this statistic! The company says on average, at the current rate of foreclosure sales, judicial foreclosure states would require 111 months (9 years!) to work through inventories of loans that are 90 or more days delinquent or in foreclosure as compared to non-judicial state, which would be able to clear their inventories in approximately 32 months.)

How to Rescue the Housing Market: Foreclosures!
CNN Money | August 30, 2011
If the Obama administration really wants to save the housing market, it should speed up the foreclosure process – not prolong the inevitable, experts say.

From the National Association of Realtors®:

HUD Extends Unemployed Mortgage Relief Program
HUD has once again extended its deadline for a program that provides mortgage relief to unemployed and medically ill home owners who are struggling to make payments.

More Banks Offer Incentives to Unload REOs
More banks desperate to sell off large inventories of REOs homes are offering incentives in the hopes of accelerating sales.

‘Most Efficient’ Labels Debut for Appliances
The Energy Star program has been criticized for allowing too many home appliances to boast energy efficiency labels. Now, a new “most efficient” label is debuting, reserved for the utmost energy efficient appliances.

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!

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Today’s Real Estate News 8-30-2011


In the article Social Networking Reaches New Milestone states there has been an increase in the use of social networking sites. A survey reported 43 percent of the people intereviewed check social networking sites daily, while six years ago only 5 percent of adults used social networking sites. Have you seen an increase in your use of social networking sites? In what way do you use social media? To keep in touch with past clients or to meet new clients? Let me know by posting your thoughts on Stewart Title’s Facebook page or my Blog www.avcarollospok.wordpress.com.

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

FDIC: Mortgage Delinquency Rate Drops to Lowest Level Since 2009
HousingWire | August 29, 2011
The combined delinquency rate on mortgages held by major banks dropped to 6.68% in the second quarter, the lowest level since the third quarter of 2009, according to Federal Deposit Insurance Corp. data.

Bernanke Speech Weighs on Dollar in Thin Trading
BusinessWeek | August 29, 2011
The dollar was falling against the euro in light trading Monday, following Federal Reserve Chairman Ben Bernanke’s speech last week.

HUD Extends Application Period for EHLP
DSNews | August 29, 2011
The U.S. Department of Housing and Urban Development (HUD) is once again accepting applications for its Emergency Homeowners’ Loan Program (EHLP). The new deadline for applications is September 15.

For Small Firms, Disaster Prep Starts at Home
The Wall Street Journal | August 29, 201
While boarded up storefronts were a common site as Hurricane Irene moved up the East Coast this weekend, a recent Wells Fargo survey indicates that many small-business owners tend to focus disaster preparedness efforts on their homes – not their workplaces.

A Scramble to Finalize Jobs Plan
The Washington Post | August 30, 2011
The White House scrambled Monday to finalize a new jobs initiative as President Obama nominated the last member of the economic team that will be charged with carrying it out.

From the National Association of Realtors®:

IMF Chief to Policymakers: Do More to Help Housing
IMF chief Christine Lagarde urged U.S. policymakers at an economic conference over the weekend to do more to stop “the downward spiral of foreclosures, falling house prices, and deteriorating household spending.”

2011 Good Neighbor Finalists Announced
Finalists for REALTOR(R) Magazine’s Good Neighbor Awards have been recognized for volunteer efforts.

5 Real Estate Markets Offering the Most Business
Some real estate professionals are still seeing high-dollar volume in home sales. Inman News finds the best markets for practitioners.

Social Networking Reaches New Milestone
Half of all American adults now say they use a social networking site, according to a new survey by the Pew Research Center. Find out who the “power users” are.

 

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

 

 

Today’s Real Estate News 8-29-2011


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

Consumer Fears Put Economy on the Brink
The Washington Post | August 28, 2011
While the Dow Jones industrial average and the unemployment rate get more attention, the shoppers outside a Wal-Mart in Northern Virginia offered a taste of what some economists believe is the more immediate reason that the U.S. economy may be on the verge of another recession.

Damage from Irene Appears to be Less than Feared; Economy Could Benefit from Rebuilding
The Washington Post | August 27, 2011
Tropical Storm Irene’s trek up the East Coast caused less damage than many had feared, a bit of reassuring news for a fragile economy. Insured damages from the storm will likely range between $2 billion and $3 billion, and total losses will likely be about $7 billion, according to preliminary estimates from Kinetic Analysis Corp., a consulting firm.

Ginnie Mae to Allow Trial Modification Repurchases
HousingWire | August 26, 2011
Ginnie Mae will allow issuers to repurchase mortgages from its guaranteed securities if the loan completes a three-month trial modification, according to guidance released Friday. Modified loans were not previously eligible for repurchase.

HUD Mulls Reimbursing Servicers More for Extended FHA Forbearance
HousingWire | August 27, 2011
The Department of Housing and Urban Development promised the country’s largest mortgage banking trade group it would look into altering its recently extended minimum forbearance period for unemployed borrowers, which could result in higher reimbursements to servicers.

From the National Association of Realtors®:

Banks Agree to More Short Sales
Banks are agreeing to more transactions at prices below the outstanding mortgage balance, offering a “glimmer of hope that lenders are getting more realistic,” says a RealtyTrac executive.

LinkedIn’s Growth Soars, Survey Reveals How It’s Used
LinkedIn’s successful IPO earlier this year has stirred plenty of buzz, and real estate professionals are no stranger to the social networking site in using it to connect. A new survey reveals how most people use the site.

Top 10 Fastest-Growing Real Estate Co.’s
Inc. Magazine ranks 5,000 of the fastest-growing companies in the country, with 52 real estate companies making it on the list. Find out the top 10.

 

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

 

Today’s Real Estate News 8-26-2011


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

The PMI Group Stops Writing New Policies
Insurance Networking News | August 23, 2011
The PMI Group has halted the writing of all new insurance policies.

Bernanke Seen Stopping Short of Pledge for QE3
Bloomberg | August 26, 2011
Those expecting Federal Reserve Chairman Ben Bernanke to pull a rabbit from his hat at a retreat for central bankers here on Friday may be in for a letdown.

Buying Foreclosures At A Bargain Price
The San Francisco Chronicle | August 25, 2011
If you have the cash, a steady job and the desire to become a homeowner, you may be tempted by the thought of buying a foreclosure. While there are some bargains to be found, you do need some education and some professional guidance before you jump into making an offer.

The Housing Market is Shrinking
CNBC | August 25, 2011
The foreclosure headlines today are that one third of all home sales in Q2 were of distressed properties (foreclosures and short sales), according to a new report from online foreclosure sale and data site RealtyTrac.

From the National Association of Realtors®:

White House Weighs Mass Refinancing Plan
The White House is considering a housing proposal that would allow millions of home owners with government-backed mortgages to refinance into lower interest rates, The New York Times reports.

Economists Say Recession Is Not Likely
Many home buyers have been sitting on the sidelines due to economic fears and threats of a double-dip recession. But a new poll shows that most economists say a recession is not likely within the next 12 months.

Economic Slowdown Impacts Commercial Markets
Commercial real estate vacancy rates are flat, and NAR’s projections for improvement have been moderated because economic growth and job creation have been weaker than expected
Many home buyers have been sitting on the sidelines due to economic fears and threats of a double-dip recession. But a new poll shows that most economists say a recession is not likely within the next 12 months.



 

 

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

 

Today’s Real Estate News 8-25-2011


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

U.S. May Back Refinance Plan for Mortgages
The New York Times | August 24, 2011
The Obama administration is considering further actions to strengthen the housing market, but the bar is high: plans must help a broad swath of homeowners, stimulate the economy and cost next to nothing.

Short Sales Surged in Second Quarter: RealtyTrac
HousingWire | August 24, 2011
Second-quarter pre-foreclosure sales jumped 19% from the previous quarter, suggesting more banks and distressed borrowers are searching for efficient ways to offload properties that are near foreclosure, RealtyTrac said.

FHFA: House Prices Dip 0.6% in 2Q
HousingWire | August 24, 2011
House prices dropped 0.6% in the second quarter and remain 5.9% below levels measured one year ago, according to the Federal Housing Finance Agency index.

Foreclosure Settlement Talks Hit Snag
The Washington Post | August 24, 2011
State and federal officials negotiating a settlement with the nation’s biggest banks over shoddy foreclosure practices are hung up on how they should deal with a Reston-based company that has acted as a proxy for financial firms throughout the country for more than a decade.

From the National Association of Realtors®:

Fannie Mae Revises Growth Estimate
Fannie Mae has revised downward its estimates for home sales this year and in 2012.

3 Myths to Social Networking
Many misconceptions persist about social networking and how to use it for business. Forbes.com recently highlighted a few of the most common myths.

Housing Slump? Not in These Markets!
California cities overwhelmingly dominated places with the most expensive median home sales prices from CNNMoney’s “Best Places” list.

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

 

Today’s Real Estate News 8-24-2011


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

Some Builders Are Ready for the Wave of Seniors
The New York Times | August 24, 2011
hen the housing market collapsed in 2008, construction of retirement and assisted-living housing ground to a halt, just as it did in most commercial real estate sectors, as access to capital evaporated. But a few companies kept their development teams intact in the recession, and are now building new facilities and expanding their operations.

Dollar Slips on Weak Housing Data
Associated Press | August 23, 2011
The dollar slipped Tuesday after new data in the U.S. showed sales of new homes fell in July for the third straight month. But a handful of better-than-expected economic reports, including Markit’s composite purchasing managers index, from Europe and China helped ease fears about the global economy.

FDIC’s ‘Problem Bank List’ Shrinks for First Time Since 2006
DSNews | August 23, 2011
Bad real estate loans from the heyday of the boom have weighed heavy on banks’ balance sheets, forcing 365 FDIC-insured institutions to close up shop over the last two-and-a-half years.  

Finding New Investors, in 140 Characters or Less
The Wall Street Journal | August 24, 2011
Having trouble landing investors? Try showing some attitude on Twitter.

From the National Association of Realtors®:

Which State Has Highest Foreclosure Inventory?
In one state, nearly one in four mortgages were either past due or already in foreclosure.

Report: ‘Fixing Housing Crisis Will Create 1 Million Jobs’
A new report argues that if banks wrote down the mortgage principal of underwater borrowers it could generate $71 billion per year into the economy and create more than 1 million jobs annually.

Short Sale Fraud Rising, Freddie Mac Wants Your Help
Freddie Mac is reaching out to the real estate community, educating them about the signs of short sale fraud and asking for agents’ help in reporting suspicious activity when they spot it.

Foreclosures Down, But Delinquencies Back Up
While bank repossessions dropped during the second quarter back to 2007-levels, the news was overshadowed by a slight uptick in the number of borrowers who have missed at least one payment on their mortgage.

 

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

 

Today’s Real Estate News 8-22-2011


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

HUD Extends Higher Conforming Loan Limit for Reverse Mortgages
HousingWire | August 19, 2011
The Federal Housing Administration conforming loan limit on forward mortgages is set to drop in October but not so for reverse mortgages.

Delinquencies on Commercial Real Estate Loans Fall Again in July
HousingWire | August 19, 2011
Delinquencies for securities backed by commercial real estate loans fell in July for the third consecutive month, according to Fitch Ratings.

Looking Ahead to Economic Reports This Week
The New York Times | August 22, 2011
Data this week will include new-home sales for July, durable goods for July and weekly jobless claims (Thursday).

From the National Association of Realtors®:

Housing Affordability at Highest in 20 Years
“Home ownership is within reach of more households than it has been for more than two decades,” says the National Association of Home Builders’ chairman. Find out which areas are the most and least affordable.

Mortgage Rates Reach All-Time Lows Again
Mortgage rates continue to free fall, reaching record lows yet again this week and pushing home affordability even higher.

Buyers to Sellers: Just How Low Will You Go?
“Unless we get a steal, we’re not going to buy any house,” says one buyer, which seems to reflect a growing sentiment among home shoppers today.

5 iPhone Apps to Help Manage Documents
Inman News recently featured the top iPhone apps for helping you better manage your real estate documents while on-the-go.

 

Anthony Carollo 2007 EMAIL  

 

Join My List

Find me on:   LinkedIn     Facebook

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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