Real Estate News Today 10-21-2011

21 Oct

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 | 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  

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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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