Today’s Real Estate News 8-29-2011

29 Aug

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.


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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

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