Today’s Real Estate News 8-24-2011

24 Aug

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.


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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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