Today’s news that may be of interest to you:
Occupied Oakland Promotes Occupying Vacant Properties
DSNews.com | November 4, 2011
The Occupy Oakland group is starting a new wave of occupations. They intend to occupy vacant properties. The Occupy Oakland group announced on Twitter earlier this week that its general assembly “just passed a proposal to encourage the occupation of bank-owned/foreclosed and abandoned properties across #Oakland.” (While I withhold comment on the whole “Occupy” movement, I will say that this strategy will NOT help the real estate and housing economy to recover; and would in fact hurt the chances of reselling those properties and getting those asset dollars back into the working economy. ~Anthony)
Lobbying Titans Square Off Over Loan Limits
The Wall Street Journal | November 4, 2011
Influential housing and banking industry lobbying groups are clashing on Capitol Hill over whether to restore higher limits on the size of government-backed mortgage loans.
Home Price Growth Has Dissipated With the Summer Heat: Clear Capital
DSNews | November 4, 2011
Temperatures are falling, and so are home prices in most local markets. Clear Capital says it’s expecting another long winter as the housing industry tries to cope with the downward forces of weak demand, record-low consumer confidence, and distressed inventory.
First-Time Defaults in Private-Label MBS Edge Up in October
HousingWire | November 4, 2011
First-time defaults on private mortgages edged up to a rate of 0.89% in October, a slight increase from this segment’s default rate of 0.86% in September, a new report from Amherst Securities Group said Friday.
More Problems are Found With Home Buyer Tax Credits
The Los Angeles Times | November 6, 2011
An audit shows the IRS has been sending notices to taxpayers that either inform them they owe no repayments on their credits when they actually do, or demand repayments from recipients who legally owe nothing.
USDA Mortgages an Affordable Option
NASDAQ | November 5, 2011
If you’re looking for an affordable and obtainable mortgage, don’t overlook a USDA Rural Development Loan.
Lower Mortgage-loan Limit has Yet to Kill Off Market
The Seattle Times | November 7, 2011
Potential homebuyers are now looking for financing from generally higher-cost, private sources with stricter lending guidelines if they need to borrow more than $506,000.
Finding More Flaws in HUD’s Accounting of HOME Program
The Washington Post | November 6, 2011
The calls started in mid-May, two weeks before a looming congressional hearing. Staff members across the vast U.S. Department of Housing and Urban Development were racing to check in with hundreds of local agencies to determine the status of housing construction projects for the poor.
From the National Association of Realtors®:
More Adult Children Move Back in With Parents
The “doubling-up” trend of adult children moving back to their parents’ home cuts into the formation of new households and is being felt in the housing market, says the chief economist for Moody’s Analytics.
Android Users: Beware of QR Codes, Expert Says
The scannable bar codes have become a popular marketing tool but one security expert is telling Android smartphone users to watch out before they scan.
Maximize Your Business Potential on LinkedIn
LinkedIn is filled with business potential for real estate professionals. Start by creating a strong profile to make a great first impression. From there, utilize LinkedIn’s resources to connect with potential clients. Here are some tips from RealtyBizNews. (Once you’ve done all that, then connect with me at http://www.linkedin.com/in/anthonycarollo ~Anthony)
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
Please remember to choose Stewart Title of Spokane on your next transaction!