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Real Estate News Today 11-22-2011

22 Nov

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

Housing Inventories Fall to New Four-Year Low in October
The Wall Street Journal | November 21, 2011
The number of homes listed for sale fell for the fifth straight month in October, hitting the lowest level in more than four years.

Existing Home Sales Rise, Contracting Issues Prevent Full Rebound
HousingWire | November 21, 2011
Existing home sales increased 13.5% in October when compared to a year earlier and would be even higher if contract failures and cancellations plaguing the loan application process could subside, the National Association of Realtors said Monday.

What Panel’s Failure Could Mean for Economy
The Washington Post | November 21, 2011
Because the supercommittee could not agree on a budget plan, the tax cut, as well as unemployment benefits, could expire at the end of the year.

Housing Market at Bottom, Few Borrowers Qualify for HAMP: John Burns
HousingWire | November 22, 2011
Housing starts, sales and prices have been flat for months, suggesting housing has hit its bottom, John Burns Real Estate Consulting said Monday.

Freddie: HARP Changes to Boost Originations Nearly $300 Billion
HousingWire | November 21, 2011
Changes to the Home Affordable Refinancing Program could add between $200 billion and $300 billion mortgage originations over 2012 and 2013, according to Freddie Mac Chief Economist Frank Nothaft.

House bill establishes watchdog of bank examiners
HousingWire | November 21, 2011
A bill recently introduced in the House of Representatives would establish an independent office charged with investigating banks’ complaints about regulatory examiners.  (I included this article because it amazes me that we now think we need a new government office to watch over the regulatory folks who watch over the banks.  I’m not suggesting whether it isn’t or it isn’t needed, it’s just amazing to me! ~Anthony)

From the National Association of Realtors®:

Housing Affordability Hovers Near Record Levels
Low interest rates and stabilizing home prices continue to push housing affordability near its highest levels in more than 20 years.

Freddie Issues Rule Changes on Short Sales
As of Jan. 1, Freddie Mac will require all parties involved in a short sale to sign affidavits that will make them liable for any negligent or intentional misrepresentations in the transaction.

 

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

 

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