Real Estate News Today 11-23-2011

23 Nov

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

Banks Chip Away at REO Inventory
HousingWire | November 22, 2011
The inventory of foreclosures held by private banks dropped for the fourth straight quarter to $50.4 billion worth of properties at Sept. 30, according to the Federal Deposit Insurance Corp.

Fed Seeks to Boost Banks with Stress Tests
Bloomberg | November 23, 2011
The Federal Reserve sought to bolster confidence in the U.S. banking system as concerns over the European sovereign-debt crisis roil financial markets and pose risks to the economic expansion.

Broad Tax Cut and Long-term Unemployment Benefits Still Up in the Air for 2012
The Washington Post | November 22, 2011
A tax cut that reaches 160 million Americans and government aid for the long-term unemployed will expire at the end of the year – sucking $165 billion out of the economy next year – unless Congress takes action.

Revised GDP Figures Offer Hope for Final Three Months of 2011
The Washington Post | November 22, 2011
The U.S. economy grew more slowly in the summer than earlier thought, according to new data. But the reason could bode well for the final months of the year.

The Fannie Mae Quagmire
CNN Money | November 22, 2011
Lower interest rates are supposed to spur the economy and give homeowners a break, but instead they’re causing more losses at the government’s troubled mortgage giants.

Loan Limits Steady, Except in Connecticut
The Wall Street Journal | November 22, 2011
The maximum size of loans that can be purchased by Fannie Mae and Freddie Mac will be unchanged next year in every U.S. county, except Fairfield County, Conn.

FDIC: Bank balance sheets stronger, earnings up 48% in 3Q
HousingWire | November 22, 2011
Earnings at financial institutions insured by the Federal Deposit Insurance Corp. continue to strengthen on lower loan-loss provisions with 63% of the banks reporting higher third-quarter results.

Take advantage of expiring tax deductions
Inman News | November 22, 2011
There are several tax credits and deductions set to expire at the end of the year, and given the federal deficit problem, there’s a good chance they won’t be extended. If you want to take advantage of them, you need to act before Jan. 1, 2012.

HomeSteps® Adds Six States to Winter Sales Promotion With Closing Cost Assistance, Selling Agent Bonuses
PRNewswire | November 22, 2011
HomeSteps, the real estate sales unit of Freddie Mac (OB: FMCC), is expanding its winter sales promotion to include Alaska, Kansas, Kentucky, Missouri, Oregon and Washington.  The HomeSteps Winter Sales Promotion is now active in 33 states and the District of Columbia.  (Many thanks to Mark for passing this along! ~Anthony)

From the National Association of Realtors®:

Does Your Client Want to Dump You?
A home seller or buyer may no longer think you’re the right person for the job. Here’s what likely went wrong, and how you might be able to still salvage the relationship.

More Agents Report Deals Falling Through
One-third of real estate professionals say they’ve had at least one contract that has been canceled in October, up from 18 percent in September.

Solar Powered Homes Becoming Standard in SoCal
KB Home is making solar power a standard home feature in almost all of its Southern California developments starting next year, the company announced.

The 32 Rules of Thanksgiving Touch Football
WSJ | November 21, 2011
Thanksgiving is Thursday and there’s no avoiding it—make the drive, eat the turkey, pass the cranberry goo, and try not to say something you regret. If you can survive until dessert without crying at the table or sticking a fork in someone’s arm, you’re home free—just inhale the pecan pie, hit the couch, and pass out watching the NFL.  But for the love of Lombardi, go outside and play some Thanksgiving touch football.
(We have an annual game at our house with friends and every eyar on Black Friday I am so sore!  But it’s worth it.  This article is worth a read.  (:-) ~Anthony)

This year we raised 10 turkeys on our little ranch, and this one got a Presidential pardon.  “Pollyanna” now resides with the chickens and has started to lay eggs.  She wishes you a Happy Thanksgiving, and asks that you please travel safely.  (:-)  Thanks to Debbie Carollo for the picture!

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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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