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Today’s Real Estate News 9-21-2011

21 Sep

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

Sales of Previously Owned U.S. Homes Probably Climbed From Eight-Month Low
Bloomberg | September 21, 2011
An increase in sales of previously owned U.S. homes in August probably failed to make up for the prior month’s decline as rising unemployment and foreclosures weighed on the industry, economists said before today’s report.

Bernanke Has Few Tools to Heal Economy Amid Weak Housing
Bloomberg | September 21, 2011
Low interest rates, the traditional medicine for a flagging economy, aren’t helping housing, which since 1982 has aided every recovery except the current one.

Banks Pledge $20 Billion in Small-Business Loans
The Wall Street Journal | September 20, 2011
Some of the nation’s biggest banks on Tuesday pledged to boost government-backed lending to small firms by an extra $20 billion over the next three years.

‘Buffett Rule’ on U.S. Taxes Seen as Easier Said Than Done
BusinessWeek | September 20, 2011
Turning the “Buffett rule” proposed yesterday by President Barack Obama from a political concept into real-world tax policy aimed at the highest-earning U.S. households will prove logistically and mathematically difficult.

Construction is Less Than Half the Level that Economists Say is Needed for a Healthy Economy
The Washington Post | September 20, 2011
The Commerce Department said Tuesday that builders began work on a seasonally adjusted 571,000 homes last month, a 5 percent decline from July and a three-month low. That’s less than half the 1.2 million that economists say is consistent with healthy housing markets.

From the National Association of Realtors®:

Fannie, Freddie May Hike Fees in 2012
In overhauling Fannie Mae and Freddie Mac, the government may require more private mortgage insurance from borrowers and charge lenders higher fees –moves that could increase borrowing costs.

Jobless Mortgage Relief Program Off to Slow Start
A $7.6 billion federal program to help unemployed home owners avoid foreclosures has only distributed about 1 percent of its money in the last 16 months.

Seller Throws in Unusual Incentive to Buyers
A home seller in Glenview, Ill., was desperate to get her townhome to standout from the bunch so she decided to make a unique offer to potential buyers.

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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

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