Real Estate News Today 10-28-2011

28 Oct

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

First the bad news:
Pending Sales Decline Despite Signs of Economic Recovery | 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

Please remember to choose Stewart Title of Spokane on your next transaction!



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