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Today’s Real Estate News 10-4-2011

04 Oct

For Spokane residence the new excise tax rate for Millwood goes into effect today. It is 1.78.

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

US Banks Could Face New Source of Mortgage Losses
Reuters | October 3, 2011
A federal housing insurance program may be forced to deny bank claims for money lost in home loan foreclosures, costing them another $13.5 billion in mortgage-related losses, according to a report on Monday from bank analyst Paul Miller of FBR Capital Markets.

Review of Foreclosure Mistakes Is Set
The Wall Street Journal | October 4, 2011
Millions of current and former homeowners will have a chance to get their foreclosure cases examined to determine whether they should be compensated for banks’ mistakes, under a wide-ranging review being planned by federal regulators.

If You Want Lower Property Tax Rates, You’ve Got to Ask
Reuters | October 3, 2011
For years, the mantra of American homeownership was to count on home appreciation. Every year like clockwork the value went up and houses were a growing source of wealth.

Housing Market Failing to Clear: The Ticker
Bloomberg | October 3, 2011
The market isn’t doing a very good job of cleaning up after the housing bust, more evidence that this is a place where government intervention could help.

 

From the National Association of Realtors®:

 

Incentives Attract Buyers, But Do They Close Deals?
More home owners are offering up incentives, including everything from fancy new cars and pricey gift cards to their pets, to lure buyers. But real estate pros say it’s the price that will get buyers to sign on the dotted line.

6 Top Cities for Young Professionals
The average college student with up to three years of work experience earns about $41,900 a year. That money has to stretch with housing. So where are the best cities for twenty-somethings?

Appraisals Blamed for More Deals Falling Through
“When an appraisal comes in low, it puts doubt in the mind of the buyer as to the true value of that property,” says one real estate professional. But are appraisals the fundamental issue?



 

 

 

 

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

 

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