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Monthly Archives: October 2011

Real Estate News Today 10-31-2011


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

NAR Adds Multifamily to Online Listings
HousingWire | October 29, 2011
A leading real estate website is capitalizing on the rebirth of rental housing by adding apartment communities to its online listings.

U.S. Economy Revives as Consumers Still Spend
Bloomberg | October 30, 2011
While household-sentiment measures are at levels typically observed during a recession, an increase in spending during the third quarter boosted growth to the highest level of the year, Commerce Department figures showed Oct. 27.

Credit Unions Pounce After Banks Raise Fees
The Washington Post | October 30, 2011
At Lafayette Federal Credit Union in Kensington, officials wasted no time in taking aim at Bank of America’s decision to levy fees on debit cards. Within two weeks of the megabank’s Sept. 29 decree, the credit union placed ads in area newspapers telling consumers:

In Real Estate, Simple Wins
The Wall Street Journal | October 29, 2011
In the cycle of investment life – boom, bust and aftermath – the lessons only become clear after it’s too late.

The Most (and Least) Expensive Cities
The Wall Street Journal | October 28, 2011
The Council for Community and Economic Research (C2ER) released its third-quarter cost of living index today, outlining the most and least expensive cities in the country.

Wall Street Reform Law Bogged Down
October 30, 2011 | Politico
President Barack Obama signed the Dodd-Frank financial reform bill into law 15 months ago, saying he was anxious to put new rules of the road in place for Wall Street.

From the National Association of Realtors®:

Survey Reveals 5 Home Buying Myths
While buyers tend to be overall knowledgeable about the home purchasing process, a new survey finds the areas where they’re still confused.  (This list really stunned me.  I would not have guessed any of these issues that home buyers are confused about.  It causes me to rethink how we communicate to home buyers. ~Anthony)

Is the New-Home Market Finally Leveling Off?
The nation’s largest home builders are starting to see a gradual turnaround in sales, which may signal the worst is finally behind them, according to a new article at The Wall Street Journal.

Supersized Homes: States With the Largest Houses
Where is square footage the biggest? Find out five states that boast the largest homes.  (This top 5 list also surprised me!  None of the states that I thought would be on this list are there. ~Anthony)

 

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

 

 

Real Estate News Today 10-28-2011


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

First the bad news:
Pending Sales Decline Despite Signs of Economic Recovery
DSNews.com | October 27, 2011
Despite indications of economic recovery – such as job growth and some stabilization in home values – pending home sales dropped for the third consecutive month in September, according to the National Association of Realtors(NAR).

And now the good news:
Pending home sales up 6% from last year
HousingWire | October 27, 2011
Pending home sales based on contract signings in September increased 6% from the year before, according to the National Association of Realtors.  The index is based on signed sales of existing single-family homes, condos and co-ops. The transactions have yet to close, making it a forward-looking projection from the trade group.

Needless to say, we’re conflicted!  (:-)

Big Four Set to Participate in HARP 2.0
DSNews | October 27, 2011
The industry’s four largest mortgage servicers all say they will be taking part in the revamped Home Affordable Refinance Program (HARP).

Americans ‘Hooked on Government’ as Record Number Get Benefits
Bloomberg | October 28, 2011
Political dysfunction is often blamed for Congress’s inability to curb the U.S. budget deficit. An even bigger obstacle may be the American public.

U.S. Economy Picks Up Pace, Averting a Stall
The New York Times | October 27, 2011
Economic growth in the United States picked up in the last quarter in the latest encouraging sign that the recovery, while painfully slow, had not stalled.

Boehner Rejects Democrats’ $3 trillion Deficit Reduction Proposal to ‘Supercommittee’
The Washington Post | October 27, 2011
House speaker rejects Democrats’ request because it contains $1.3 trillion in new tax revenue; he gives his most pessimistic outlook to date that supercommittee would achieve deficit target by its Thanksgiving deadline.

Delaware Attorney General Files Lawsuit Against MERS
HousingWire | October 27, 2011
Delaware Attorney General Beau Biden filed suit against Merscorp Inc. and its Mortgage Electronic Registration Systems, claiming the company obscures data from borrowers making it difficult for them to save troubled loans.

From the National Association of Realtors®:

5 Housing Markets Poised for Biggest Rebounds
Keep a close eye on these housing markets. These five cities are expected to see some of the strongest home appreciation in the country within the next year.  (Will we see a big rush of migration to Bismarck or Honolulu?  Hmmmm, which to choose? (:-) ~Anthony)

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

 

 

Real Estate News Today 10-27-2011


Yesterday I had a client call me asking if I’ve heard whether residential new construction prices were struggling against the value of resale pricing.  Given the current market conditions, I have to believe they are, but I haven’t really heard anyone talking about it.  What can you tell me?  Feel free to reply to comment on my blog!

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

New Home Sales Strike a 5.7% September Stride
The MReport.com | October 26, 2011
New single-family home sales snagged a September updraft to crest at their highest perch in nearly half a year, but remain below sales seen during the same period last year.

Real Estate Agents Go All Out to Market Luxury Homes
The Los Angeles Times | October 26, 2011
Real estate agents listing an $8-million home in Santa Monica wanted to ensure a good crowd for an open house last month, so they hired a stilt walker, shirtless male jugglers and a contortionist who floated in the pool, encased in a clear plastic bubble.

Commercial Real Estate Players Expect Slow Recovery in 2012
The Los Angeles Times | October 26, 2011
Commercial real estate players say they expect a grindingly slow recovery of their business next year as economic conditions marginally improve.

Fannie Mae Multifamily MBS Issuance Surpasses 2010 Levels
HousingWire | October 26, 2011
Fannie Mae, the largest provider of multifamily mortgage financing, issued $16.7 billion in multifamily mortgage-backed securities in the first nine months of 2011, bypassing total issuance for 2010.

Share of Americans on the Move Falls to New Historic Low Amid Continuing Housing and Job Woes
The Washington Post | October 26, 2011
Americans are staying put more than at any time since World War II, as the housing bust and unemployment keep young adults at home and thwart older Americans’ plans for a beachfront or lakeside retirement.

Mortgage Regulator Edward DeMarco at Home with Criticism
Politico | October 26, 2011
Depending on whom you ask, federal housing finance czar Edward DeMarco, described as the most powerful man in Washington housing policy, is preventing a desperately needed rebound of the national housing market – or is instituting long-overdue fiscal discipline to the government’s role in the mortgage market.

From the National Association of Realtors®:

 

Suburbs Reshaped? Poverty Soars in Suburbs
“For the first time, more than half of the metropolitan poor live in suburban areas,” says a researcher at the Brookings Institution.

Baby Boomers Seek Smaller, Affordable Homes
Baby boomers who plan to move for retirement are looking for smaller, affordable homes that are easily accessible to medical care and near their family, finds a new poll.
 

 

 

 

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

 

 

Real Estate News Today 10-26-2011


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

HARP’s Rep and Warranty Waiver: Will It Spark a Refinancing Frenzy?
DSNews | October 25, 2011
With the Federal Housing Finance Agency’s (FHFA) retooling of the Home Affordable Refinance Program (HARP), one change in particular may hold the answer to just how much of an impact the initiative will have – FHFA’s decision to waive certain representations and warranties on loans refinanced through the program.

Rep. Neugebauer: Move the Properties not the Mortgages
HousingWire | October 25, 2011
Rep. Randy Neugebauer (R-Texas) said the Obama administration should be focused on helping the private market move through the backlog of foreclosures instead of merely shifting wealth from investors to borrowers in the new refinancing changes announced this week.

Apartment Values Rise, as Do Rents
The Wall Street Journal | October 25, 2011
Strong growth of rents and occupancy levels of rental apartments have pushed some building values to record levels as Americans shift away from home ownership.

Wild Ride of the 1%
The Wall Street Journal | October 25, 2011
The once-stable incomes of America’s biggest earners now fluctuate dramatically from year to year. And as go the rich, so goes much of the economy.

The annual “Emerging Trends in Real Estate” report, released late Tuesday, ranks the Seattle metro area sixth among the nation’s top 51 markets for commercial and multifamily investment next year.

From the National Association of Realtors®:

Renters Spending 5% More Than Home Owners
Rising rents are forcing renters to outspend home owners on housing costs, according to a new study.

Rental Market Posting Record Gains
Some real estate companies are expected to have their highest gains since 2006 in property net income in the next two years due to the increase in rental demand and costs, The Wall Street Journal reports.

 

Anthony Carollo

 

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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

 

 

Real Estate News Today 10-25-2011


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

FHFA Mortgage Refi Boost Expected to be Modest
HousingWire | October 24, 2011
Analysts expect results from the changes to the Home Affordable Refinance Program announced Monday to be modest, but the Obama administration said it is working to expand the number of reachable borrowers even further.

Fed Wants to Ensure Housing Affordability, Dudley Says
Bloomberg | October 25, 2011
Federal Reserve Bank of New York President William C. Dudley said the central bank wants to keep mortgage interest rates from rising too much and may do more to hold down borrowing costs.

Home Prices in U.S. Likely Fell More Slowly
Bloomberg | October 25, 2011
Home prices in 20 U.S. cities probably fell at a slower pace and consumer confidence hovered near a two-year low, highlighting the obstacles facing the recovery in its third year, economists said before reports today.

After 4 years of Housing Crisis, Voters Giving up Hope for Help from Politicians, Government
The Washington Post | October 25, 2011
Across America, despite the hundreds protesting for limited government or more government action, a broad swath of the middle class hit hard by the crash in housing prices is quietly resigned, given up on seeing any relief – particularly from politicians.

The Home Affordable Refinance Program (HARP): What You Need to Know
The Washington Post | October 25, 2011
Here’s a quick breakdown of what you need to know about the changes.

A Surge in Poverty Is Reshaping Suburbs
The New York Times | October 25, 2011
The poor population in America’s suburbs rose 53 percent last decade, double the 26 percent increase in cities, confronting communities with unaccustomed challenges.

From the National Association of Realtors®:

Homeownership Rate Second-Highest on Record
The homeownership rate is at its second-highest level on record, according to a new Census Bureau report. Find out which regions and cities have the highest rates.

Study: Better to Live Near Vacant Home Than Foreclosure
Living near an occupied property in foreclosure can bring down home prices nearly twice as much than just living next door to a vacant home, a new study finds.

Nevada Law Threatens Mortgage Servicers With Felony
Foreclosures have slowed in Nevada since a new law took effect that says servicers could face felony charges for any mistakes made in the processing of foreclosures.

 

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

 

 

Real Estate News Today 10-24-2011


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

Mortgage refi plan targets hard-hit borrowers
MarketWatch | October 24, 2011
President Barack Obama on Monday is due to unveil a changed mortgage refinance plan that would allow homeowners who have suffered steep price declines on their properties to get cheaper loans.

Obama’s Efforts to Aid Homeowners Fall Short
The Washington Post | October 24, 2011
Housing woes continue to plague the U.S. as the president plans to visit today the foreclosure capital of the nation, Nevada, and mention a program that will reduce monthly payments for some underwater borrowers.

Twelve Questions on Obama’s Refi Plan
The Wall Street Journal | October 23, 2011
The Obama administration is revamping a program that’s designed to let more homeowners refinance their mortgages even if they don’t have any equity.

Zillow: Case-Shiller Likely Fell 3.8% in August
HousingWire | October 21, 2011
Two key indices of home prices likely fell in August, suggesting large numbers of foreclosures and continued high joblessness are acting as a drag on the market, according to a new forecast.

Fannie, Freddie Overseer Looks to Boost Ailing Housing Market
The Hill | October 23, 2011
Housing policy could take center stage next week if a federal regulator and the Federal Reserve move forward with plans to help struggling homeowners.

Swiss Banks May Pay Billions to U.S., Disclose Client Names
Bloomberg | October 23, 2011
Swiss banks will likely settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts, according to two people familiar with the matter.

HUD Offers REO Homes For $100 Down in Select States
DSNews.com | October 24, 2011
HUD has approved a program aimed at putting foreclosed homes back into the hands of owner-occupant buyers.  In select states, from now into October of next year, buyers need a down payment of only $100 to purchase a HUD-owned REO home.


From the National Association of Realtors®:

Investors See Bigger Profits From Rising Rents
It’s a good time to be a landlord, investors are finding. Rental demand and prices are rising, allowing more investors to cash-in on their rental properties.

Incentives Grow to Get Struggling Home Buyers Moving
With distressed properties accounting for 30 percent of existing-home sales, more real estate professionals are finding a growing part of their job is offering struggling home owners “cash for keys

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

 

 

Real Estate News Today 10-21-2011


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

Senate Votes to Extend Higher Limits on Federally Backed Mortgage Loans
The Washington Post | October 20, 2011
The Senate has voted to extend higher limits on federally backed mortgage loans for two more years.

Debate on Housing Restart Raises Questions Over 30-year Fixed-Rate Mortgages
HousingWire | October 20, 2011
Lawmakers continue to inch toward a new structure for housing finance in the U.S., one that may conceivably herald the end of the hugely popular 30-year, fixed-rate mortgage.

Sales of Existing U.S. Homes Fell as Forecast in September
The Washington Post | October 20, 2011
Sales of existing homes fell in September, extending a pattern of declines and gains that show the industry continues to be buffeted by consumer pessimism and unemployment above 9 percent.

Median Wage in 2010: $26,363
The Washington Post | October 21, 2011
It’s well below the average wage and shows the increasing income gap in the United States.

Bottom Line on Rentals: Expect to Pay More
The Wall Street Journal | October 20, 2011
It seems as though each passing week brings a new report showing that the for-sale housing market’s pain is the rental market’s gain.

New U.S. Housing Plan Expected Soon – Congress Aide
Reuters | October 21, 2011
The Obama administration and the regulator for Fannie Mae and Freddie Mac are expected to unveil new steps to help distressed homeowners in the next week or two, a senior congressional aide said on Thursday.

Housing Market Stumbles, Again
CBS Money Watch | October 21, 2011
Two weeks ago, mortgage rates fell to new all-time lows and I suggested this might mean we’re on our way to a double-dip recession.

MBA: Multifamily Lending Jumps 31% Over 2010
The MReport.com | October 20, 2011
More than 2,000 multifamily lenders financed five-unit apartment buildings to the tune of $68.8 billion over the course of 2010, according to a Mortgage Bankers Association (MBA) report released Wednesday.

Altos names top-three real estate markets for investors
HousingWire | October 21, 2011
Analytics firm Altos Research named Las Vegas, Chicago and Pittsburgh as the top-three cities real estate investors should target – but for different reasons.

From the National Association of Realtors®:

Are Banks Getting Better on Short Sales?
Some home owners are reporting that banks are now not only more willing to consider short sales, but are even offering incentives to owners to complete these transactions instead of letting properties go into foreclosure.

Can Where You Live Affect Your Health?
A new study lends more support to the idea that where you live can affect your health.  (The shocking news to me here is that we taxpayers actually paid to relocate thousands of people to affluent neighborhoods to live for 20 years for a health study! ~Anthony)

America’s Priciest ZIP Codes
The priciest ZIP code in the country boasts a median home price of more than $4.5 million.

Anthony Carollo 2007 EMAIL  

Join My List

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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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